 Show Posts
|
|
Pages: « 1 [2] 3 »
|
If the government outlaws Bitcoins, how are you going to buy goods? You can't go grocery shopping with them. You can't buy a house or car.
Falseness. Groceries = http://www.bitmunchies.com/House = http://www.builditbb.comCar = I'll sell you my 2010 Impreza for 550 Btc right this instant. PM me if interested. And the government can never stop people from buying pre-paid visa debit cards with btc. Thus, with a bit of effort, one can buy all of one's groceries with Bitcoins already. Regarding rent, give it some time. Remember also that creating a business is hard, and takes a while. It's to be expected that Bitcoins will skyrocket before the vendors have the time to create the businesses. There is a lag. But, you can bet there are hundreds of new businesses being created right this moment. I'm making one myself  A competitive business will never accept bitcoins unless the value of bitcoins becomes stable. Margins are too small to accept something that's value changes by 30% + in a minute. |
|
|
|
I'd love to buy puts on this turd but you have to trade in turds to do it. So even if I'm right I could still lose.
For that simple reason the game is rigged against bears.
If you wanna "sell short" the btc, you'll be looking to either write (not buy) a put, What are you talking about. I've traded plenty of options in my lifetime When you buy a put you are buying a contract to sell (put) the stock (security) at the strike price of the contract to the person who sold it the contract. Here's how it's rigged against the bears If I believe bitcoins are going down in value I purchase a puts The problem is if I am right and exercise my put contract I'm paid back in bitcoins but what if bitcoins are worthless how can I make any money. Do you see now how it's rigged against bears |
|
|
|
|
I'd love to buy puts on this turd but you have to trade in turds to do it. So even if I'm right I could still lose.
For that simple reason the game is rigged against bears.
|
|
|
|
|
You don't need to worry about governments destroying bitcoins. You need to worry about the users of bitcoins. The users of bitcoins will destroy the bitcoin system.
|
|
|
|
ah.
so the "hockey stick" graph - in re global warming - will also be crashing down, and the world will be just fine?
because you don't like such uninterrupted uptrends?
because it doesn't fit with your understanding of... what?
no.
Probably because that graph is also fueled by speculation |
|
|
|
Competition will make bitcoin stronger.
Like how strong Yahoo is now that Google is around |
|
|
|
Can you think of anything that makes the original better than clones?
I'm sure you can so tell me |
|
|
|
|
The first one to market hardly ever wins the race.
Since bitcoins is open source it would be easy for a large company to fork it.
Imagine DellBucks
Every new dell computer is sold with 600 mh/s of gpu power. The machines are marketed like "This computer will mine for DellBucks while you're not using it then you can trade your DellBucks for Cash or Services ". Dell puts up an exchange for money transfers and complies with all Money Service Laws.
They would be selling a Turnkey product with integrated hardware and software with an easy marketing pitch.
DellBucks are just like bitcoins just another name. Same software different name.
Which one wins in the end?
My money is on
DellBucks
IntelBucks
AmdBucks
GoogleBucks
AmazonBucks
EbayBucks
I think the current exchanges for bitcoins understand this even the new one that started today.
Notice how the word bit is not in their Company names. They're smart enough to know bitcoins won't be the only game in town.
|
|
|
|
But as silly as the topic is, given its factual record, for the Bitcoin to achieve same level of collapse it will have to trade all the way downto something like 0.0001 $ / BTC I don't think that's going to be a problem .0 /BTC is right around the corner |
|
|
|
|
More like Coming Soon: parity with a dog turd sitting in your yard
[
What an amazing ride.
[/quote]
|
|
|
|
When sending $$$ to mtgox (Japan???) thru Dwolla it passes thru Mutum Sigillum LLC. http://www.mutumsigillum.com/MUTUM SIGILLUM LLC — 2915 OGLETOWN ROAD, # 1085 — NEWARK, DE 19713 — U.S.A. Just curious if anyone can explain further.  I would guess it's a company owned by or tied to mtgox that allows mtgox to operate within the US regulations as a money changing business. |
|
|
|
I don't know for sure but it would be the cheapest way to destroy bitcoin and put a damper on any other virtual currency being adopted.
What happens if there are people who use Bitcoin that won't exchange it for fiat currency? That is the true purpose of it (just buy things with it) but at this time unless you're a miner you're not getting any without cash (sure you could sell something for it) The masses have decided this is a get rich quick vehicle or a store of wealth and they are all piling in right now running up the price too fast. The inefficiency of the major exchange is also causing the price to run up too quick. Look at the posts of people being pissed because it takes too long to get accounts funded and how they watched the price increase as they waited days to make a trade. Once they get their money in the account they pull the trigger because they just watched it go up 75% in 12 hours. This inefficiency in the exchange will have the same effect on the downside as people won't be able to fund their accounts fast enough to buy bitcoins and defend it's price. The recent rise in the last day is a recipe for disaster. Nothing but speculative. These new people don't give a rats ass about bitcoins or buying things with bitcoins. These people have $ signs in their eyes. If these new people lose money bitcoins will be dragged through the mud and masses may never adopt a virtual currency. |
|
|
|
They wouldn't buy them and hold them. They would dump them after some accumulation. You guys couldn't afford to make the price stable bitcoins crash people get burned. The media covers the story of how people got burned. Then everyone is afraid of any virtual currency.
Seems like someone should be a TV psychic with their own show. How do you 'know' any of this? The truth is, you're just pulling things out of your ass and presenting them as truth. Please don't mind us, we're just trying to run away from the smell. I don't know for sure but it would be the cheapest way to destroy bitcoin and put a damper on any other virtual currency being adopted. If they just seize the exchangers bank accounts they look like bad guys and create more interest in virtual currency and the development of better exchanges. |
|
|
|
I see so you guys have enough money to outspend the US government and defend bitcoins price.
My whole point here is people are going to get clobbered and lose lots of money which will hurt bitcoins future adoption. While the early adopters might be fine all the new people running in right now are going to get slaughtered.
Erm, no one would have to outspend the government. The point of such an exercise would be that they are buying, the existing owners are selling. In fact, if the government did insist on buying all the bitcoins, they would simply make all the existing owners terribly rich as they drove the price up and up. Then when they are the sole owner of bitcoins in the world, what will they have exactly? Some numbers on a hard disk. The value of bitcoins comes from their tradeability, they are not inherently worth anything. So; once we're all rich having sold bitcoins v1; what exactly would the government do with their new pile of bytes to stop us starting bitcoins v2 and beginning again? No... a government buying bitcoins would be the most monumentally stupid action they could possible take. Not only would nobody get clobbered, it would be the biggest advert for Bitcoins imaginable. They wouldn't buy them and hold them. They would dump them after some accumulation. You guys couldn't afford to make the price stable bitcoins crash people get burned. The media covers the story of how people got burned. Then everyone is afraid of any virtual currency. |
|
|
|
I don't think anyone needs to rack their brain to figure out a way to destroy bitcoins. Seems easy to me it just takes money.
I'm sure the US government has been a major buyer of bitcoins for months maybe even from the start.
All they have to do is dump it on the market. You guys couldn't afford to buy it all to stop the fall. 90% of you guys are weak holders you'll run away just a fast as you ran in.
Guess what happens when they get down to parity? We'll buy them all back. Have you ever traded before? Because the theories you are putting out there suggests otherwise. I see so you guys have enough money to outspend the US government and defend bitcoins price. My whole point here is people are going to get clobbered and lose lots of money which will hurt bitcoins future adoption. While the early adopters might be fine all the new people running in right now are going to get slaughtered. adding 75 million to bitcoins market value in 12 hours is not sustainable |
|
|
|
Would you continue to buy bitcoins if the US Government was regulating them? I'm sure there are plenty of people in various think tanks racking their brains to come up with a technological or legal fix for the "problem of bitcoin" or the "problem of cryptocurrency" in general. But really there's no "solution", because there's ultimately no problem. So your question is moot. I don't think anyone needs to rack their brain to figure out a way to destroy bitcoins. Seems easy to me it just takes money. I'm sure the US government has been a major buyer of bitcoins for months maybe even from the start. All they have to do is dump it on the market. You guys couldn't afford to buy it all to stop the fall. 90% of you guys are weak holders you'll run away just a fast as you ran in. |
|
|
|
Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.
So the biggest bitcoin exchange is legal. Why is that a bad thing? It actually is a very good thing. You didn't really think you could avoid paying taxes on dollar profits, did you? If you don't want to pay taxes, don't buy dollars with your bitcoins! Let your bitcoins rest or sell them for goods not for dollars. I'm not saying it's a bad thing. What I'm saying is a large portion of the people on this forum believe the value of bitcoin is it's ability to not be regulated or controlled by a government. Once they figure out they are wrong what's going to happen to the value of bitcoins? I say it becomes a paypal. Whats a paypal worth? Depends what currency you put into your account |
|
|
|
There really isn't a good way to regulate them... that's the point. How would you suggest they regulate them?
Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators. What the hell are you talking about? The "main exchange" is MtGox. It's located in Japan, not the US, so the US cannot "regulate" it. It is totally meaningless for Japan to "regulate" it as well, since regulation of Bitcoin is technologically impossible. What are they going to do, pass laws against math?  Furthermore, there is nothing that Jeff Garzik needs to do regarding "the government". Writing code is not a crime (yet), nothing he does falls under anything resembling US securities laws. You knuckleheads just never bothered to listen. Now you get to pay the price for not paying attention.
You are an idiot, and you clearly have no idea what you are talking about whatsoever. It is regulated. Every transaction you make at MtGox into a government currency is being tracked and recorded. Why do you think they have withdraw limits? They are a money changing business. The US government could seize their funds in a heartbeat. What good are your bitcoins if you can't easily trade them for cash. Go smoke some more weed |
|
|
|
There really isn't a good way to regulate them... that's the point. How would you suggest they regulate them?
Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators. See the price spike to $28+ that's called a blow off top. The cats out of the bag the US Government has their hands all over this. People will be trampling over themselves to get their cash out soon. The main exchange won't be able to handle the stampede which will perpetuate the crash. Bottom line Bitcoin can't be what you thought it could period. The main developers knew the the Government would need to be involved and hinted to such. You knuckleheads just never bothered to listen. Now you get to pay the price for not paying attention. |
|
|
|
|
