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How do we get Adams suggestions before the people who can make it happen?
-Burger-
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What i want to know is, why is The Bitcoin Foundation backing coin validation and red-listing !?
For the exact reason I created this thread. They have to. They're in the USA. They are going to be pressured to comply. They're going to be tortured over whether to stick to the Bitcoin philosophy, or risk it being "shut down". This is why the foundation should NOT be in the USA. In the belly of the lion! |
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This was the problem in making the "Bitcoin Foundation" an American organization.
They had the opportunity to take on a new leadership member recently.
They were presented with candidates from around the world. All of whom spoke strongly about making the foundation a worldwide organization.
Instead, they chose the american girl who spoke heartily about keeping the Bitcoin Foundation an American central hub.
All other countries would simply house "Satellite Offices" of the American organization.
Clearly this pissed off many, and for good reason.
Now we have a clear example of why the Bitcoin Foundation being an American organization is a bad thing.
Why is the "hub" for decision-making on Bitcoin... in the belly of the Lion?
That has to be the worst idea ever. Right in the middle of "regulation central" ...
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This was the problem in making the "Bitcoin Foundation" an American organization.
They had the opportunity to take on a new representative recently and were presented with people from around the world, but chose the American Girl who spoke heartily about keeping the Bitcoin Foundation American and all other groups around the world just "satellite offices" of the USA Bitcoin Foundation.
Clearly this pissed off many, and for good reason.
Now we have a clear example of why the Bitcoin Foundation being an American organization is a bad thing.
Why is the "hub" for decision-making on Bitcoin... in the belly of the Lion?
That has to be the worst idea ever. Right in the middle of "regulation central" ...
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When the last coin is mined. And we will all be long dead on that date. Well, except for me, because im gonna get cryonic-ized in a vat of liquid nitrogen and get revived.  |
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Yeah. I'm not easily startled, but I consider this the first "real" threat to Bitcoin I know of since I joined this little club. I'm in a discussion with Mike Hearn right now on the btcfoundation forum. I get the impression he genuinely believes that a) it's a good idea to implement this, and b) won't do much damage to Bitcoin. I disagree with a), and vehemently disagree with b). Head over there yourself (if you are a member already. otherwise: pay up and join  ). Otherwise, arguments I can bring forward in the thread are very much welcome. Glad guys like you are having open discussions with them, and even more glad guys like Hearn are putting themselves out there to hear the feedback. I think this is a positive thing, given the comparison, which is corporation suits having zero interaction with those whom they affect. -Burger- |
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You don't seem to understand how trading, exchanges or currencies actually work, either that or you're trying to bait me O_O. Sorry no. I'm just a little retarded when it comes to numbers. Okay very retarded. Thanks for the explanation. |
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But again this is irrelevant to my trading strategy. I trade futures, options, forex etc, have been doing so for 15 years. You don't say. News flash: Bitcoin ISN'T a stock. But no wonder you keep acting like it is. It is subject to corrections like a stock. No. It's not. It's a technology that's being adopted. A stock in an established company CANNOT go logarithmic for 6 years straight but a brand-new technology CAN (difference between the early years of Microsoft and IBM during the same period). Massive difference. And one that experienced stock traders have complete blinders about. A couple months of logarithmic increase that is right on schedule (which follows 4 years of the exact same logarithmic increase that they weren't here for) and they panic sell and call everyone else idiots and throw up chicken little "sky is falling" warnings. Bitcoin husband nailed it. All these finance experts telling me what bitcoin is going to do, and have been wrong .. oh ... 100% of the time. The smartest of them finally acknowledged to me "This is something completely new. Its not following the rules"This is why their "knowledge" is going to be a stumbling block for them. Bitcoin is NOT a stock. ive been saying this over and over and over. there are some similar aspects, but many very important ones simply dont match, How can April happen again? Bitcoin hasn't spiked and then dropped. April happened. It didn't happen twice. Doesn't take a brain surgeon to see the different shape of the lines... |
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Well..... we hit $445 today so ....
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Extreme newbie question here:
Say a dude has $11,000,000 worth of coins (25,000 coins).
And he sells.
Where does all that wealth get moved to inside the Bitcoin system?
It all goes into the coffers of the exchanges, doesn't it?
Therefore, aren't the exchanges ultimately going to be the central banks of Bitcoin?
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If Bitcoin could disperse into a huge "sea" of love ... then it would truly be decentralized wouldn't it?
Shouldn't there be a central, owned-by-nobody, exchange?
A huge vast ocean of bitcoins that constantly grows, but is controlled by nobody?
You sell it, and it goes back into the "global pool" of coins ...
But that isn't the case. Someone is always holding the funds.
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Should Satoshi have created a Bitcoin "pool", rather than require that coins be held by someone at all times?
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Don't forget ......... CAPITAL GAINS !!!!!!!!!!!!!! If a dude is holding 350 bitcoins and makes $350,000 ...... Some such dudes are going to have to give $100,000 of it to the government "just because" .... Maybe the correct question is, how many people are applying for citizenship in Germany right now? |
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Sheesh... that is the wrong question.
The right question is, is the current price of Bitcoin, be it $1000 or $10,000 above it's true market value?
Then act accordingly.
Well since nobody knows the answer to that question, the second question, which we can answer, is how many people will bail at $1,000 |
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right now BTC is in a huge bubble LOL !! I love it. The never ending Bubble. At least now the bubble boys are calling it a "huge" bubble. Before it was just a "big" bubble ... Bubble boys .... this bubble sure is lasting a long time. At what point do you guys stop calling it a bubble and start recognizing it for what it is? Worldwide propagation of an ingenious new financial technology that is being adopted by tens of thousands of merchants as we speak, currently conducting over 86,000 transactions PER DAY by consumers, and is capable of providing 6 billion humans without a bank account the ability to hold and transact money for the first time in human history? Bitcoin. |
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I didn't add the option to cash out partially because i want to know how many people are bailing at $1,000.
I know most people will cash out partially...
Its honestly the most difficult question on earth right now for me. Its obvious as we approach $500 that this is going to be an issue on the table for all of us.
How does one look at thousands (hundreds of thousands?) of dollars earned on the most risky investment known to mankind, and not "Grab" it and run?
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Right now the prevailing mindset is that Bitcoin is limited to 21 million units. As we move along people will have to adapt to the reality of 2.1 quadrillion, and then maybe amounts even larger than that.
Okay so like I said: Your entire argument is the psychology of investors "learning its more than 21 million". Lets look at your logic for a second: You think people will run for the hills in fear, and the market will crash, because people who have poured millions of dollars into Bitcoin, know nothing about it.
----------------- I will repeat: Even if 21 million is erroneous, Bitcoin is still "scarce" and its production will always have a "limit". As opposed to the US Dollar. I will repeat: It takes all of 14 seconds to educate those who might be surprised by this news, that even the divided subunits are limited, and therefore scarce. More importantly, I highly doubt the majority of Bitcoin investers aren't already aware of its divisability. Whereas you believe the majority of Bitcoin investors (enough to make it crash!) don't even understand basic properties of Bitcoin. Only a fool would pour tens of thousands of dollars into something and not know the basics behind it. Therefore your premise is likely incorrect and your conclusion as well. -----------------
Bitcoins value is in its application, and what it can do for merchants and consumers alike.
I don't believe bitcoins value is influenced by a bunch of idiots who don't know how it works.
Therefore a sudden revelation to a bunch of idiots is a scenario that I don't think will ever happen.-Burger- |
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When exchanges start working in sub units it may dawn on people that the scarcity argument used to promote Bitcoin is disingenuous rubbish.
Let me try to tackle this - admittedly not being an economist. revans - if the Fed is able to print unlimited amounts of US Dollars. Bitcoin won't be made in unlimited amounts. Your argument is moreso how the pyschology of the investors will hold up when they realize 21 million is a false number. My response to that is this: 21 million is a false number, but the concept of scarcity is still intact.If one stops at a certain point, isn't it, by default, still supporting the scarcity argument? There is still going to be a limited supply. As opposed to the US Govt printing unlimited US Dollars. In 10, 20, 30 years, no matter what happens ... more BTC won't be made. So wouldn't investors realize that and still feel good about scarcity? Sure, some uneducated investors (who would pour thousands into something they know nothing about?) may have an initial "What?!" to the news that 21 million isn't the smallest subunit. But a quick 14 second education on the fact that Bitcoin is still going to be limited, should resolve that.I think your entire argument here is that when they realize 21 million isnt the number, everyone will run for the hills, with their ears plugged and eyes closed, while screaming.
I on the other hand believe human beings are a little smarter than that, and the 14 second chat about BTC being in limited supply, will resolve their concerns.In fact I think most investors already realize that BTC is divisible. The entire reason BTC is going up in value is because people are starting to *UNDERSTAND* it, and realize its potential. Im interested in your response to this. |
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Maybe we are not understanding his point.
revans could you possibly rephrase, and be more vebose about it, giving more examples ....
you are a fairly short writer. Lends itself to misunderstanding. Maybe everyone here is missing your point.
Could you take a moment and re-present your case with more detailed explanation?
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revans trolls anti-bitcoin gibberish on this forum all the time. Just look at his posting history. Revans I'd like to call attention to your fabulous prediction in May 2013 regarding the price of bitcoin:
"Some people are working really hard to push the price back up to $90. I expect a bloodbath when MtGox resumes trading, could be down to sub $5 this time tomorrow."
Your pearls of wisdom |
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it's 100% likely they split up their purchases into several addresses. for security and anonymity reasons. Oh ... duh. Good point superduh. |
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