Bitcoin Jesus has spoken: http://www.bloomberg.com/news/2014-06-15/-bitcoin-jesus-calls-rich-to-tax-free-tropical-paradise.htmlWho finds this idea appealing and why? Having Chinese and Russian whales buying bitcoins to buy their second citizenship seems like a bullish signal to me. To be quite honest, I got pretty interested in this possibility as it seems like a nice way to "disappear", should a need for that arise one day. However, what got me concerned was the safety of my property in St. Kitts. Do they have their own military and police? Also, their population is 90% blacks. Not that I'd be keeping my bicycle there but in a worldwide eceonomic depression scenario the island would not be a safe place to dwell I suppose. Right? |
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What if Bitcoin has become too big to fail?
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If apple started accepting for everything and launched their own super fast low rates exchange, that would get $700 but we all dream.
Or if Obama announced " Start buying bitcoin or you are going to die!" |
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Is it just me or does this entire post sound like a dude trying to sound like what he thinks a chick would sound like?
You are probably right and it's not just you. I'd definitely ask for a photo with a timestamp if it really mattered for something  . |
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Ohhmy gawd yall need to stop being such pussies I swear  Would one of you fine gentlemen (or ladies) please explain to a girl what I'm missing here? I thought the entire point is "buy low, sell high" and btc is an alternative currency. FBI stole BTC in the raid, now it wants to get rid of it...that means bitcoin is back in the bitcoin environment, fiat goes out, bitcoin goes in. I do understand the concept of dumping but I seriously do no see the basis for the paranoid fear mongering that zomg bitcoin is dooooomed...or that the fbi or whoever has that kind of power to wreck bitcoin. If they did, I doubt seriously people would be investing millions of dollars in Monopoly money. So the price drops..why is that a bad thing? I'd think it'd be the best thing ever...especially if the price conveniently plummets the day of the auction. I mean hard crash to 20 bucks level or lower...so the feds end up fucked for trying to cash in on their theft to begin with, they get shit...and once the btc are moved back in the economy, everybody will jump in to buy them and it'll sail right back up. The only ones who get fucked are the FBI like they deserve. The auction alone seems pretty clear they think btc is bullshit and they'd rather have fiat...so give them fiat. If they had any sense they'd USE bitcoin and pass it around and pay some debt or something. Nope, they want to sell the secure currency for bs fiat. I think a massive network coordinated crash would be beautifully sweet...let the price go waaaay up, 900 bucks even and the day of the auction when they're locked in, massive sell off so the price bottoms out and what little they get, serves them right. Because the price and value will go up. Buy LOW...remember? So what part am I not getting here that makes some of you so sketchy about what the government does? Thank you kindly! You expect special treatment because of your gender? Parts of sentences such as Ohhmy gawd and zomg bitcoin is dooooomed are repulsive and you're not getting an excuse for the supposed female anatomy you deem to present. Aside from that, I believe this little downtrend is very healthy for the longer term rally to continue because at least now we have some bears in the equation while a week ago there were only bulls which made me a bit paranoid about the rally --- the majority of people cannot be right, right? |
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There is almost no chance that bullish China Anti-FUD will we be released before Monday, so i would say we drop at least 24h more (and maybe crash even harder if we should get a negative announcment from the chinese exchanges). 300$ soonish?   But if we go by the normal life-cycle of China-FUD we should soon hear something like 5th payment processor now enabled, everything is OK It's funny how the last bubbles was very much like the Chinese regulators waking up scared by their own fart like a sleeping dog. |
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The ghash.io thing where people keep joining ghash faster it gets closer to 51% reminds me of the movie Untraceable where a serial killer ties up his victims and puts them on a Youtube feed with a system where the more people that are watching a video, the faster the victim dies, and then millions of viewers exponentially pile in to watch, brutally killing the victim.
Is it a good movie or it's just gore like saw?? There is some gore but it's not a just a gore movie - it is a movie about human psychology and how greedy people are, because everyone insists on watching the movie, which contributes to the victim dying. it's a pretty good movie, i remember watching it with my ex. but it's indeed a bit like the GHASH situation indeed, but in their defense, GHASH is still the best pool by far. <tinfoilhat> What if GHASH pays other pools to remain unattractive to miners? </tinfoilhat> |
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Fact is, people are stupid. They can't think for themselves and they are cowards. This is why any swimming against the main stream will get you angry expressions such as you shouldn't break the rules and no one has ever done that!
However, these machine-obedient people hunger for the success stories of famous people and millionaires in hope of imitating them or discovering some magical key to success. Why do people give a shit what drugs Jobs and Gates did in past? I sure don't but there are many of us who devour such information with lust. The bottom line is that these sheep are waiting for some famous organization, innovator, public idol or millionaire to praise the shit out of Bitcoin.
When that happens, shit will officially hit the fan. It can very well be the next and final major event in the history of bitcoin bubbles.
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Same thing is the observer effect with people who stand by when someone is in a crisis, and same thing as people who don't vote. People only think about their individual impact and aren't confident about the collective impact as a group - everyone feels they are an exception.
People who still vote are suckers. In the states it's the people who fund elections that have the real power, and in EU countries the only vote of any meaning is the vote to get out of EU. And we don't get to vote on that. Even in a hypothetical world where votes actually counted, we can't reverse the current decline in less than 50 years. Democracy should replace voting with a Proof of Human Work inspired by Bitcoin and that work should be hard, like lifting weights in the gym. |
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Let's change the protocol and fuck these greedy miners. I'm a miner myself, using P2P mining pool but I'd sacrify my equipment to punish the suicidally greedy bastards.
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Bitcoin lately has this way of 'playing possom' during a crash/decline and acting like there is no support to give you the feeling that there is going to be no rebound. Nobody shows their hand and the buyers just wait around until a few minutes after the sellers are finished dumping. Then someone caves and they all start rushing in and market buying. After seeing this happen enough times you learn not to be fooled and not to panic.
 Nice parallel. Not honey badger but a possum! |
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pathetic sell off, whoever sold will regret later
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It's funny how they love to use physical bitcoins as illustrative figures everywhere in the news, yet they fucked the guy who produced them with regulations and licenses.
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why not track down miners and destroy their equipment in a criminal act?
or at least the miners who are those imbeciles mining as a horde under the same mining pool. or maybe it would be possible to disable centralized mining from bitcoin altogether?
If bitcoin 0.9.2 was to come out with the hard fork so that newer versions no longer allow centralized mining I would rather support it and have everyone forced to use P2P mining.
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If the impossible happens, thus breaking the law of logic, the world ends.
correction: the world, as we know it, ends |
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That's a cool story and can happen very easily. After all, this is probably the only reasonable way for Bitcoin to fail now. Let's say Bitcoin was invented by "the bad guys". Why not build ASIC right away before even releasing Bitcoin and keep manufacturing them the whole time in secret? Then, when the time is right, just plug in the ASIC army and sink all the SHA256 PoW coins including Bitcoin. The only safe haven I see is PeerCoin. Bitcoin can be compared to the very Internet itself by the degree of its novelty. It is known that the Internet was originally invented by US military. Bitcoin can fall into the same category. This is why I trust Peercoin and Primecoin more than Bitcoin --- their creator Sunny King is a real person who did not remain anonymous. Maybe thanks to him the bad guys haven't pulled the plug on Bitcoin yet, as they know that people would just switch to PeerCoin, should pure PoW coins fail. |
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The real danger is pool operator corruption not a single pool getting >50% hashing power. Take gigahash and some other leading mining pool. Combine their hashing power and Bitcoin is done. DEAD. All hail to peercoin, you should start buying peercoins already ( http://imgur.com/a/dG66c) as this coin is much more resistant to 51% attacks. Someone controls the pool, right? That someone has a family to be tortured in order to bring down Bitcoin. If money won't corrupt the pool operator, there are other things that can be done. Those who know history, might even look back to Molotov–Ribbentrop Pact which may very well happen in the context of leading pool operators. 1. Develop a 51% attack proof altcoin. 2. Bring down Bitcoin with the analogue of the Molotov–Ribbentrop Pact amongst pool operators. 3. Everyone switches to 51% attack proof coin. 4. Profit I diversified to peercoin long time ago and been stake-mining for a year now.  |
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Why does everyone use Ghash?
Probably because it's the easiest and/or most profitable to use. Or because people just don't know better alternatives. Easiest? NO. P2Pool is the easiest because you don't have to register any account. Why the hell people still use centralized mining if everyone could just switch to p2p mining. |
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If Bitcoin gravitates towards 666 then it also must gravitate towards Saturn as it is the planet of Satan. http://www.factsbehindfaith.com/Satan-astrology.htmlHence, if moon was 1000$, then Mars is 10 000$. Jupiter would be 100 000$ and finally, Saturn is 1 000 000$. Will we not leave our star system then? Well we can always think of the prices as comparison of known astral objects by their mass in orders of magnitude. Something inspired by that: https://www.youtube.com/watch?v=fX7IUjjwbCIedit: TO DA VY CANIS MAJORIS! |
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If Bitcoin gravitates towards 666 then it also must gravitate towards Saturn as it is the planet of Satan. http://www.factsbehindfaith.com/Satan-astrology.htmlHence, if moon was 1000$, then Mars is 10 000$. Jupiter would be 100 000$ and finally, Saturn is 1 000 000$. |
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