It's a pity they don't allow altcoin speculation in this subforums. I sold 70% of my Litecoins yesterday and bought Peercoins. LTC has nothing to offer and is suffering from stagnation while Peercoin has some really promising projects under development (PeerShares and PeerUnity).

Africa just banned bitcoin! DOOM AND GLOOM EVERYONE, SELL!!!!

1. "keep away from bitcoin!"
2. (secretly buy shit load of bitcoins yourself)
3. "now buy bitcoin!"
4.
5. profit

That's a good example but I remember the ratio was 20% vs 80%. To bring more examples,
20% of men fuck 80% of women.
20% of women fuck 80% of men.
20% of programmers write 80% of code.

Someone should lose their job for being so stupid. Actually, there should be a law against making conceptually false statements for the wider public.

why? It's just advice.

Not true. Only people with the proper background knowledge will see too big to fail as something that will be bailed out by governments. Most people don't have the proper background and they will rely on the literal meaning of the term. Literal meaning of too big to fail has nothing to do with bailouts.

Although I personally have already lost track on what we are arguing about, I'd point out that "too big to fail" is a state after the vertical stage of the technology's adoption S-curve. Of course a black swan event can wipe out the whole population after it has met its upper limit but early-day threats no longer apply.

That's so obvious I wonder why you even cared to say it out.  If you want to take that route, I'd suggest you contact the authors of http://en.wikipedia.org/wiki/Too_big_to_fail and keep saying them the same you just told me (nothing physical is too big to fail). I hope you see the parallel.

When some technology reaches a critical threshold of adoption, it becomes too big to fail. Internet is too big to fail and potentially the same can be said for Bitcoin.

This is how terms are coined. Idiot once meant a person with a neutral opinion on something but not any more because someone like me decided to start using it in other context. There are no patents for coined terms and their meanings. I am free to mutate any term I want if I find the new definition more proper. "Too big to fail" should be a much broader term and without the stench of government bailouts.

Many people, especially uptight "scientists", would hate me for that but the feelings are mutual as some branches of science are grotesquely inbreeding themselves. Informally speaking, I'd ask them: "Do you guys fuck all your cousins or just the ones you find attractive?"

And what I mean is that once you have made an investment you must start protecting your investment. This comes from the common sense of a good investor -- it's pretty much the most important rule of investing. Incoming protection from wealthy entities is thus a very good thing for the whole Bitcoin economy. The protection itself can manifest in many ways. For example, if a powerful politician's cousin had a lot of bitcoins, the politician is less likely to sign some anti bitcoin act.

gox has nothing to do with it because Mark did not use his own money to buy a lot of bitcoins. He basically just stole the coins, it's a different thing.

thank you!

Also, it's good to see people investing big money into Bitcoin as it makes them obviously responsible for protecting their investment for the years to come. Soon Bitcoin will be too big to fail (if it already isn't).

Soon this will attract other millionaires too as they are already competing with each other in various metrics for "dick length". Bitcoin will be just another metrics for that

This Draper dude is the first locust to arrive to the crop field. It can easily grow into Tulip mania or dot-com analogue. Interesting times ahead. There will be losers and I just love to see the world burn. I'm already planning on building a fallout shelter.

Maybe he meant the Bitcoin Jesus?

My gut TA approves.

Good morning everyone! Literally as I just woke up and witnessed 30$ rise in a single spurt. No wonder I couldn't get sleep as I usually would have slept 5 more hours but today was somehow different and now it's clear why.

I talked to my friend yesterday and he was not interested in investing into Bitcoin because he thought the train is long gone and he would not be an early adopter anyway.

When looking at the normal price chart it always seems as the last bubble was the only bubble and before that the price was ridiculously small. This point of view makes everyone new to Bitcoin feel as if they have just missed the opportunity and thus they will not bother to buy Bitcoins any more. They couldn't be more wrong however because if they saw the logarithmic scale chart they would quickly see that there is plenty of investment opportunities left with Bitcoin.

The victim mentality of an average Joe makes him believe that yet again he has missed the boat and is a loser. Similar is the issue with the price. People think that Bitcoin is not divisible. I offered 0.1 Bitcoins to my other friend (6 months ago) as a gift and he refused because it seemed to him as a joke and argued that he would like to own exactly 1 Bitcoin or none at all.

Therefore, I'd suggest everyone to use the log scale chart as much as possible when illustrating the Bitcoin price as I believe it would provide better marketing for Bitcoin as a speculative investment.

For comparison...


Obviously this chart makes it much more convincing for an average Joe to buy some Bitcoins:

Yes, for programmers that would be the way to go. I personally don't need sms nor e-mail notifications and thus I did not implement the functionality.