it all comes down to. is bitcoin useful / how useful
doesn't matter what speculation does to the price, if bitcoin is not useful its not worth anything...
if we wake up and find that we've had a 51% attack and will require a year for the blockchain to "catch up" as huge sums of double spend bitcoin start to vanish!
just how useful will bitcoin be then?
You ought to start thinking in the other direction. Bitcoin is useful. Very useful. If it gets up into the area of real companies, we are talking the bicoin network being $100 billion (hell ebay is $75bil, visa $100bil+, apple has $100bil in cash on hand, etc) So what is $100bil divided by 21mil coins? How rapidly would the price of a bitcoin need to double for us to make it there in 3 years? how about a year and a half? Social media spreads awesomeness like wildfire and bitcoin is spreading from the geeks and early adopters to the sneezers ... the sneezers will take us over that tipping point. yes i agree! but we've had a 51% attack b4, and it can happen again ( everything that can go wrong WILL go wrong)... for all we know its happening now, no way to know... don't dismiss this so fast, their will always be the die hard fans tho, and the blockchain will eventually recover, but so much damage will have been done and theirs no stopping this from happening again... infact if price starts to drop hash rate will drop to making it even easy to do this 51% attack... the protocol isn't as robust as they would like you to believe!  Umm...so you're saying there's risk? Is there risk in storing wealth in fiat? PMs? Commodities? Where can I store my wealth that maximizes liquidity & stability, and totally eliminates risk? Don't worry I won't hold my breath in anticipation of your answer. I'm just pissed off because i sold on BOTH bear traps.... Put a sign next to your computer to remind you why you got into BTCs to begin with. Fiat sucks, so dumping BTC to obtain more of it should have a purpose other than "BTC has gone up and is due to drop relative to fiat." There's never been anything like BTC before. LOL that would be useful! I'm saying bitcoin is more risky then people think, WAY more risky! The price right now is not reflecting the risk. because they hear people say that the protocol is more safe then banks... as long as you know how to keep your bitcoin safe you'll be fine... More then fine! which is simply not true, because of 51% attack ( which doesn't need 51% at all to work, 51% means it will work ALL the time ) as asci comes online and GPUs drop out, its the prefect conditions for the perfect storm. |
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I'm just pissed off because i sold on BOTH bear traps....
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it all comes down to. is bitcoin useful / how useful
doesn't matter what speculation does to the price, if bitcoin is not useful its not worth anything...
if we wake up and find that we've had a 51% attack and will require a year for the blockchain to "catch up" as huge sums of double spend bitcoin start to vanish!
just how useful will bitcoin be then?
You ought to start thinking in the other direction. Bitcoin is useful. Very useful. If it gets up into the area of real companies, we are talking the bicoin network being $100 billion (hell ebay is $75bil, visa $100bil+, apple has $100bil in cash on hand, etc) So what is $100bil divided by 21mil coins? How rapidly would the price of a bitcoin need to double for us to make it there in 3 years? how about a year and a half? Social media spreads awesomeness like wildfire and bitcoin is spreading from the geeks and early adopters to the sneezers ... the sneezers will take us over that tipping point. yes i agree! but we've had a 51% attack b4, and it can happen again ( everything that can go wrong WILL go wrong)... for all we know its happening now, no way to know... don't dismiss this so fast, their will always be the die hard fans tho, and the blockchain will eventually recover, but so much damage will have been done and theirs no stopping this from happening again... infact if price starts to drop hash rate will drop to making it even easy to do this 51% attack... the protocol isn't as robust as they would like you to believe! |
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it all comes down to. is bitcoin useful / how useful
doesn't matter what speculation does to the price, if bitcoin is not useful its not worth anything...
if we wake up and find that we've had a 51% attack and will require a year for the blockchain to "catch up" as huge sums of double spend bitcoin start to vanish!
just how useful will bitcoin be then?
In a grumpy mood after some bad trades man ? i need to smoke a joint man.... |
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it all comes down to. is bitcoin useful / how useful
doesn't matter what speculation does to the price, if bitcoin is not useful its not worth anything...
if we wake up and find that we've had a 51% attack and will require a year for the blockchain to "catch up" as huge sums of double spend bitcoin start to vanish!
just how useful will bitcoin be then?
no charge backies!... but if you accept a double spent coin, and we find out about it after 4200 confirmations... its gone!
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Ive literally never read a post that was a correct trading decision coming from adam
its only lately I've been thinking price would go down when its keeps going up! up! up! at 5$ i started this thread and was chanting 8$ 8$ 8$ ( people called me crazy ... ), i call the top 12.5 then bought back in short after only to sell at 15,I predicted we would plunge down once we rebounded to 13-14. I called bottom at ~10$ ( i traded all these calls...) and then i had some... what seems like bad move right now, selling off as we go higher and higher. buy your 26$ bitcoin and they will double in value next year! ... good luck with that. |
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It pays until each share gets back the BTC0.1 ipo price. Then each share represents 1/400,000 of the company.
i just dont understand why owning 1/400,000 of the company, is worth anything at all... most of their shares are private, what good does it do to anyone owning a small % of a mining company and not getting any of the profits? even if they are super profitable its not like any of the share holder get anything out of that... so why would anyone want to buy a share? why dose any non dividend paying stock have value is what I'm asking, i guess... |
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It pays until each share gets back the BTC0.1 ipo price. Then each share represents 1/400,000 of the company.
i just dont understand why owning 1/400,000 of the company, is worth anything at all... most of their shares are private, what good does it do to anyone owning a small % of a mining company and not getting any of the profits? even if they are super profitable its not like any of the share holder get anything out of that... so why would anyone want to buy a share? why dose any non dividend paying stock have value is what I'm asking, i guess... |
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Can't buy the chips. (not yet anyhow. they will launch a retail side eventually I think) ASICMINER is a public company from the GLBSE (they will be deploying their own trading platform soon) so you buy shares in the company instead of hardware. Stock thread here: https://bitcointalk.org/index.php?topic=99497.0so you buy some of their stock and it pays you dividents untill it has payed out a total of 0.1BTC/unit, then no more dividends. ...once it stops paying dividends why would anyone want to buy their stock? |
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It has been officially confirmed that the big miner on BTCguild is in fact ASICMINER 2TH rolled out in the last day or so and ramping up to 12 Pre Update
The deploying is in process. We are stress testing on btcguild with a portion of our devices. The current computation power is close to 2TH/s.
We have been working day and night and still are. The real update will be given in a few hours.
This is excellent news! the less profitable / more distributed bitcoin mining is, the more stable the price should be. where and when can we buy one of these miner? |
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I feel significance resistance ahead... but support is unbelievable so it very likely we will be making new highs. keep watching for that lose of momentum, if we start seeing high low volume with less price increase ... we could be in big trouble! all the new investors could get stuck buying high and selling low ( just like the last bubble... )
signs are still pointing UP! but i feel a change in the wind.
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Why isnt Gox going higher?
Come on we All saw it recover like a pro from that dump, we should blast off to 50 RIGHT NOW
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Coinbase shows future price, get ready   lol wtf? LOL WTF?! lol wtf?! |
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  good work! I like that you can bring a lot of enthusiasm ( sometimes people just run thought all the facts and its so dry no one can stand to watch for half a min...) However, i feel you need some video editing to do b4 you send these out, you repeat yourself, or maybe throw in to much of your opinion and because of that the facts are harder to catch and the video is unnecessarily long. a few cuts here and there would be good you could probably save yourself alot of work by just starting a new thread every week " What do you want to see talked about on the next BitCoin Weekly " that my 2 cents. thanks!
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fuck this i'm going to make all my bitcoin back by playing some poker  |
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It was a massive, cruel beartrap.
I think it was funny.  Not for those in it though. Seriously, if one were even slightly bearish/not bullish enough, he would probably fall for it, it was a bloodbath.
Day trading! a day in the life I see the price fall... i can feel a knife coming. i place a ask at 25.5 on virtex and it fills! Yaye i got out Just In Time Price crashes down! down! Down! Ok watch for bottom... looks like 21's not breaking Quick Quick Place bid at 22 .... out bid Quick Quick Place bid at 22.3 .... out bid Quick Quick Place bid at 23 .... out bid .... out bid .... out bid .... out bid ops i think... i fucked up...  |
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did mtgox's 6 confirmations slow down the plunge?
felt like it went down and back up in less the 6 conf. |
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