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The population is not in a bubble but rather in the vertical rise stage of the S-curve. The rise will gradually slow down at some point. Of course, doomsday is also a possibility.
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You can whip me all you want, White Devil, but you will never devaluate my bitcoins!
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6 Message by Support Tech Jax on Fri, 20th Jun 2014 3:37 pm Hello Erich, I will forward your comments onto the appropriate department. Please note, if you wish to share an opinion, idea or suggestion, please visit the Steam for Mac section of the Forums, found here: http://steamcommunity.com/discussions/forum/2/This forum is regularly read by Valve's development team. I think someone who uses Mac should also raise the Bitcoin issue in their Mac forums. It is relevant now that Apple has endorsed Bitcoin. |
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The fact that US is seen as an evil country for their oil wars, federal reserve banking and NSA spying does not make them a polar opposite to Russia and China. In fact, all of these giants are crooks and US could very well be just the lesser evil.
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The lending part is pretty interesting concept. Of course there are a lot of people by now who think that they should borrow money to buy bitcoins. Now they are waiting to break even and the only way for them to default would be a longer than expected consolidation. The lenders must feel uncertainty and fear before they turn successful, otherwise it would be too easy.
A whale who knows that a lot of bitcoins have been bought with borrowed money will keep the prices down until the lenders are under water and forced to start paying back the loans. When lenders have turned unsuccessful a new rally begins as it is now profitable for the whales.
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People with big pockets are coming.
That's what people were saying when I joined this forum over a year ago. Some people speculate that the big players are already buying BTC slowly at what they consider to be the current low prices, but there's not much proof supporting that theory. I've always suspected that people with big pockets are butthurt that they missed the boat when bitcoin was cheap. So, instead of buying in late they intend to create their own bitcoin (call it ripple or ether for example). |
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What an unprofessional exchange, it turns out. Money greedy bastards. Rounding for your favour is a criminal act. Book keepers have went to jail for that in the past. Although I have a verified account in Bitstamp, I hope to never use their services again. Asking dumb questions about my money was one thing, but stealing in the given way destroys all trust I had for them.
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Dafar? More like JAFAR!!
GTFO non-believer
Smite the heretic! |
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I got the reply from customer service (see the first post in this topic). It was completely useless copy-paste answer  so I wrote them a reply, now let's see how it goes. If any of you find this issue important, I'd suggest you contact Steam the same way I did, because it would increase the chance to make a difference. You started off with pretty bad intonation. Instead of what you wrote, you could gave them hints on other large companies accepting BTC and how it would benefit them (even tho, i think they already know that). Your fist message is kinda "bullish" so...i wouldnt expect much out of it. I'm sick and tired of fake politeness everywhere and I don't care. That's why I'm not the right person for this task, I know. Still, it's a step to the right direction, to say the least. |
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I got the reply from customer service (see the first post in this topic). It was completely useless copy-paste answer so I wrote them a reply, now let's see how it goes. If any of you find this issue important, I'd suggest you contact Steam the same way I did, because it would increase the chance to make a difference. |
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I have a corollary event to this but I would be called a permabear.
Please post, the perma-realist's always have open ears and minds to your comments Corollary to a rally that never retraces would be a crash that never bounces or recovers. I'm not predicting that this will happen but it is probably equally as likely as the former. True. If the price reaches the vertical rise stage of the S-curve, it can very well grow into a bubble, reaching its global ATH that it is never going to be touched again after the bubble has burst. However, it should be easy to recognize the vertical rise stage and assume that it is a one time event in the history of Bitcoin. Knowing that, everyone should be prepared for the upcoming giant bubble. The vertical rise stage probably dwarfs all the previous rallies. So, instead of a single order of magnitude growth we will see several of these occurring within the same rally. |
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If only Bitcoin was originally created as Peercoin, we would have none of these discussions a part of me even wants all the PoW coins to crash and burn due to 51% issue because then Peercoin would get its chance to shine. |
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Any of you TA specialists competent enough to pull some TA magic using Markov Chains? I think what bores people is the obvious TA and drawing straight lines on charts, let it either be bullish or bearish. Moon cycles is actually a pretty interesting concept, so I'd suggest using female menstrual cycles next. I have heard they synchronize for a group of women living in the same area.
Having some bears in the equation is a good sign for me. I expect the next rally this Summer because it would match perfectly with my personal situation at this moment in life. I also expect a black swan event just for the irony of it, something like a massive surge in price but no major correction (crash). Everyone is so tied up with the idea of the price crashing immediately after a parabolic rise that such an event would teach them a good lesson -- something life is good at.
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I just find the topic odd simply because it would be a bad investment the 51% attack took place, so why would people put their investment at risk by not simply mining elsewhere? Probably something I've overlooked but hey I don't mine BTC in the first place.
no, you're completely right. they wouldn't do it. it would be pointless, unless your point was to destroy bitcoin and the wealth of all the miners involved. the retards like failing seem to think some 'organization' is going to 'take control' of ghash and essentially perform a very expensive terrorist attack on bitcoin. its not to make money, even though the only reason they've cited has been 'greed'. but those guys are VERY dumb so i wouldn't take much of what they say into consideration. Also, even if they did it and all PoW coins crashed to 0$. Peercoin would still remain working as if nothing happened. Thus, they cannot destroy crypto currencies as a concept by performing a 51% attack. All sane bitcoin investors have diversified between alts long time ago, so even their wealth cannot be damaged by such an attack. All in all, 51% attack is not a realistic threat. At least not for the (s)perma-bulls. |
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What makes me sceptical about this is the fact that everyone now expects 10 fold increase as it has turned to be a yearly pattern. I would be surprised if the next peak is ~4000$ and everyone called it more or less perfectly, cashing out during the rally from 3k to 4k. Having said that, I recall a friend of mine who looked at the parabolic rise of Bitcoin a year ago and said as if he was an old and wise man " if history was to repeat itself, now would be the time to sell" and price has just passed 100$ per Bitcoin. Selling at 100 turned out to be quite a risky business because after the bubble burst, the price did not go much below 100 anyway. Anyone would have pulled their hair out looking the price climbing to 250$ after having cashed out at 100$  Hence, I'd suggest the price goes 2x higher than expected during the next bubble and if it bursts (might not happen for the sake of irony) most people who sold in hope of catching the top will hardly break even when buying back in. |
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If steam accepted Bitcoin then many of the games they feature might also integrate Bitcoin payments individually. For example, you want to unlock some specific ability in the game and it will cost you bitcoins. Right now you pay for whole games and downloadable content but then you could choose to pay for even smaller scale aspects of the game. Seems like a perfect use case for Bitcoin.
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Several sites, e.g. Coingas, have been selling steam codes for BTC (and other cryptos) for ages. What exactly would change if Valve would accept BTC directly? Pretty much nothing?... To my understanding they lag behind. I have used such services in past and they did not have all the games listed and the waiting period was quite disturbing. I'd rather have Bitcoin supported directly because they already have like 12 payment methods so clearly there is no upper limit. |
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So far new merchants adopting Bitcoin has not have very strong impact on the price. However, now that there are solid examples of known companies accepting Bitcoin there could be a real chance that Steam starts to feature it too, don't you think? For that reason, I created this support ticket today: https://support.steampowered.com/view.php?ticketref=1948-TUPB-3999In case the link does not work for others except myself, here's the content:  Now the question is, would this event be any more significant than for example Overstock accepting Bitcoin? To me it would be obviously more significant as I'm a video game developer and occasional player. But then again, it would be just another possibility to dump bitcoins as Valve probably converts them to dollars right away. This is the customer service dialogue so far: 1 Message by you on Mon, 16th Jun 2014 5:51 am
When will you integrate Bitcoin payments? I can see Paypal and other parasitic middle men listed as payment methods you accept but no Bitcoin. I am tired of paying to other people so that they would gift me the game I want to play on Steam.
In case you did not know, services such as bitpay.com can handle bitcoin payments for you and your company will immediately receive the transferred value in dollars. This way I get to pay for your games with Bitcoin and you will still receive dollars.
Erich
2 Message by Support Tech Jax on Tue, 17th Jun 2014 11:11 am Hello Erich, Thank you for contacting Steam Support. We accept the following forms of payment: Credit/debit cards Visa MasterCard Discover American Express JCB PayPal For more information on PayPal, please visit http://www.paypal.com/ClickandBuy For more information on ClickandBuy, please visit http://www.clickandbuy.com/Visa Electron Please contact your card issuer to ensure that your Visa Electron card is enabled for online purchases before attempting to purchase games on Steam. Gift Cards It is possible to order through Steam with a gift card from one of the credit card issuers listed above, however, we require that the address information and CVV2 information for the card be an exact match to the gift card or virtual card issuer's system. We recommend that you inquire with the card issuer to ensure you have the correct address and CVV2 information to complete the transaction. PaySafeCard For more information on PaySafeCard, please visit http://www.paysafecard.com/Please Note: PaySafeCard Junior cannot be used to purchase video games of any kind. If you are over 18, you may contact PaySafeCard and exchange your card for one without this restriction. Carte Bleue Please contact your card issuer to ensure that your Carte Bleue card is enabled for online purchases before attempting to purchase games on Steam. For more information on Carte Bleue, please visit http://www.carte-bleue.com/iDEAL For more information on iDEAL, please visit http://www.ideal.nl/consument/Sofortüberweisung For more information on Sofortüberweisung, please visit https://www.payment-network.com/WebMoney For more information on WebMoney, please visit http://www.wmtransfer.com/Skrill/Moneybookers For more information on Moneybookers, please visit http://www.moneybookers.com/Steam Wallet Codes For more information on Steam Wallet Codes, please visit https://support.steampowered.com/kb_article.php?ref=1122-RTSC-0478#whatcodesIf you have any further questions, please let us know - we will be happy to assist you. 3 Message by you on Wed, 18th Jun 2014 3:56 am I know what forms of payment you accept but that was not the question at all. The question is: When will you integrate Bitcoin payments? You might be interested in knowing what the Bitcoin community thinks about such a move: https://bitcointalk.org/index.php?topic=654752.0There are several good points brought out in the discussion, explaining why Steam would be a perfect use case for Bitcoin payments, outperforming all the others by the new possibilities it introduces to the gaming world. For example, with Bitcoin it would be possible to make in-game purchases (unlock special abilities during the gaming session on demand). The latter IS NOT POSSIBLE with Paypal and others but Bitcoin supports it natively. In fact, it was one of the suggested main use cases for Bitcoin when it was created. Why is it so? Because Bitcoin transaction fees are so small that they are practically for free. With Bitcoin, one can make micro payments such as paying only 0.01 dollars worth of Bitcoins in order to unlock some special feature in the game and the transaction fee would be 0.001 dollars in that case. Next time, please don't give me a copy-paste answer but instead make it plausible to assume that you have actually read what I have written. If you as a customer service worker feel incompetent to continue this discussion then please consider forwarding the issue to a higher level of your company's reasoning. Erich 4 Message by Support Tech Jax on Thu, 19th Jun 2014 10:35 am Hello Erich, No information is currently available for this payment method. Please refer to the Steam News section for the latest news and updates. Steam News http://store.steampowered.com/news/Thank you for your interest. 5 Message by you on Fri, 20th Jun 2014 3:39 am
Will you forward this as a new feature request? Is it already in the queue?
Erich
6 Message by Support Tech Jax on Fri, 20th Jun 2014 3:37 pm Hello Erich, I will forward your comments onto the appropriate department. Please note, if you wish to share an opinion, idea or suggestion, please visit the Steam for Mac section of the Forums, found here: http://steamcommunity.com/discussions/forum/2/This forum is regularly read by Valve's development team. |
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Something to consider is that social security exists, ultimately, to cover rich people's asses. Keeping the poor fed keeps the rich alive. From that perspective moving to some country where you're part of a conspicuously rich upper class seems like a risky proposition. If the shit ever hits the fan, who do you think is going to be the first to get their assets confiscated? The rich foreigner who was kissing up to the previous regime for tax exemptions, of course.
If you're going to go someplace, trying to integrate is a good safety net.
That's exactly what I suspect. Such a small country probably doesn't have any military force either so that US could swallow those islands with no problem, should some global chaos and crisis arise. I would rather see such offerings in Island or some other cold climate country because they are less desirable to sack and pillage during tough times. |
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I can see that racism is a far more attractive topic than bitcoin price speculation. It's somewhat a comparable phenomenon to fart jokes. I personally have no hard feelings towards various skin colours but I sure scorn hipsters and radical anti-racists to the extent of pouring oil into the fire whenever possible  . |
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