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2041  Economy / Speculation / Re: Bitcoin is back up. on: September 23, 2014, 06:23:18 PM
TO DA MOON!!!!  Cool
2042  Economy / Speculation / Re: Shall I take out a high interest rate loan to buy more Bitcoin? on: September 23, 2014, 04:44:43 PM
What happens if you can't pay it? How much do you have to pay in interest rates? I'd never do that, but in some very rare cases, it may make sense.

Just take on another loan to fill the hole.
This way you essentially create infinite moneyz!!!

2043  Economy / Speculation / Re: You heard it hear 1st on: September 23, 2014, 11:21:21 AM
Bitcoin will be the next thing like mobile phones, the internet and computers. In the beginning they seemed stupid/useless but once widespread and adopted a trilliondollar business.

Can bitcoin be used by poor people? Mobile phones are used by the poor nowadays.

yes............  very much so
....
Billions of people on the planet have no access to bank accounts and, frankly, the banking system has shown no interest in them.

Already, mobile phone technology has moved in to fill the gap – by creating a whole new payment system that allows people to move money by text. The M-Pesa system in Kenya is the most developed example. In that country, 12 million people use a text message system developed by Vodafone to make transfers - that's more than a quarter of the population.


http://www.channel4.com/news/bitcoin-bank-of-england-super-rich-excluded-poor-internet-currency

http://cryptocrimson.com/2014/06/bitcoin-leveraged-bitpesa-makes-official-debut-kenya/

So are yout thinking poor people could have internet in their homes? have pc or laptop or even phones? You think the slums of India have internet?

There are enough and the numbers are growing fast. The poorest of the poor do not yet have their own but they will most probably know someone who has and have the opportunity to use that until they can get their own. Why would they? E commerce and remittance via sms saves money.

http://www.dazeinfo.com/2014/07/11/mobile-internet-india-2014-349-million-unique-mobile-phone-users-70-traffic-mobile-india-shining-infographic/

http://www.dazeinfo.com/2014/06/22/smartphone-apac-market-forecast-2014-2018-india-china-australia-japan-growth/


http://www.statista.com/statistics/257048/smartphone-user-penetration-in-india/



KNowing someone who was is not the same if you have you own

No..its not exactly the same..thats obvious..but it can be practically the same in many instances.

eg... They want to buy an air/bus ticket online to avail of the promo (up to 60% discount only available for online purchases)  they go to an internet cafe and book the ticket....so by having access via an internet cafe or a friends internet connection they achieve their goal of buying the ticket at the discounted rate ( goods/service whatever) on line that is not owned by them.

ditto for sending receiving money via sms..u generally need the code which is sent via sms and a valid ID to pick up the money.  It is therefore doable if you can borrow a cellphone.

It's fun to see my oneliner being quoted so many times Smiley

Don't expect Bitcoin to be worldwide over night. Look at mobile phones, banking system, internet, etc. it will take a good few years (atleast 5-10) to get the infrastructure up and running in the developed parts of the world. As long as the technology remains to have traction it will come.

Bitcoin has potential and the infrastructure is being built as we speak. It will survive as long as nobody (governments) forcefully try to kill it.
2044  Economy / Speculation / Re: bitcoin is a mystery on: September 23, 2014, 11:06:52 AM
so far I have been right.

Wow that's amazing with 7 posts  Roll Eyes

Of which your first post ever was a contradiction (Always false)

Quote from: LordSonjai
BIG RISK
=
BIG GAIN
=
BIG LOSS.

Ow you're the alt of another troll.... Oops sryz  Wink
2045  Economy / Speculation / Re: Shall I take out a high interest rate loan to buy more Bitcoin? on: September 22, 2014, 11:46:44 PM
Great idea you will have years and years of pleasure from it.
Why not throw in a kidney or a lung, they are redundant organs. You can buy them back once you're rich!!!

It's a win win !!! Cheesy
2046  Economy / Speculation / Re: Midweek massacre coming? on: September 22, 2014, 07:10:28 PM
21 million Bitcoins

  • 30 million okcupid users
  • More than 250 million linkedin users
  • More than 1 billion facebook users

Let use pretend that in the end-game scenario only 50 million people end up with Bitcoin wallets despite the fact that people visit many websites and many websites could accept Bitcoin...

In that situation is is impossible for everybody to hold half a coin... there simply isn't enough to go around.

Today it is still affordable for just about anybody that has a minimum wage job in the developed world to buy an entire Bitcoin. The idea of that is completely insane.

The huge investment that has gone into mining just goes to show how valuable this scarce commodity is.

The price of Bitcoin is undervalued on so many levels right now.

Bring on the massacre. I dare you.

We can always valuate products in picasatoshi so we still have a long long long way to go before divisibility becomes a problem.
Ow and don't start with the mBTC will inflate bitcoin and is the same as printing money crap Smiley
2047  Economy / Speculation / Re: $10,000 when? on: September 22, 2014, 07:07:30 PM
Im hoping for prices as low as 100, I need a lot more BTC before we hit 10k.

If we go $100 it's probably not going to go 10k anyday soon.
Maybe you can then buy a flying pig Smiley
2048  Economy / Speculation / Re: 250$ - Invest on BTC ? on: September 22, 2014, 04:46:17 PM
You could wait for the trend to go bullish before investing. But we simply do not know when (or if) it will happen.
If it happens, it usually goes skyhigh in a short time.

Bitcoin is high risk / high gain !!!

Only enter Bitcoin if you feel good about it and if you're prepared to wait >1 year for results.
2049  Economy / Speculation / Re: Will China's bitcointalk ban affect bitcoin's price? on: September 22, 2014, 04:43:38 PM
Atleast they aren't getting our FUD Cheesy
2050  Economy / Speculation / Re: How will the next recesion affect bitcoin price on: September 22, 2014, 04:40:59 PM
The US is not in a period of recession now, and it will not be for more than a decade from now.

LOL No recession (pssst print more money!!!)
2051  Bitcoin / Bitcoin Discussion / Re: Bitcoin to be pegged to gold on: September 21, 2014, 02:01:01 PM
You can't peg bitcoin to gold.
You can peg fiat to gold.

bitcoin has value due to scarcity like gold.
fiat like USD is an IOY which used to represent gold by being backed by gold. Now fiat is backed by a promise and the general consensus that it is worth something.

2052  Economy / Speculation / Re: Bitcoin Price and Mining on: September 21, 2014, 01:40:28 PM
If the price is below mining cost (which it is at now currently) then miners are simply mining at a loss, simple as that. But here's the dilemma. If they stop mining then other miners would gain because difficulty will be down and those miners still mining will be able to get more coins thus winning the competition. If they continue to mine even at a loss, then they'd better have extra (lots of it) funds to cover the losses while hoping prices will rise again where everyone profits. If not more and more mining corporations will go the way of BFL (bankruptcy).

Classic CATCH-22

Stopping with mining is also writing off hardware.
2053  Economy / Speculation / Re: $100,000 BTC before 2016 on: September 21, 2014, 01:39:04 PM
I agree with the OP be warned Cool

Aliens told me to invest!!
2054  Economy / Speculation / Re: Honeymoon savings... hold or sell? on: September 21, 2014, 12:52:14 PM
How do you figure I'm "on a series of bad decision making"?
You got married. Did you read my earlier post? You have a 50% chance to lose everything you own and most of what you earn for many years going forward. That's a way higher risk than bitcoin. Nobody ever think they will be the ones getting hit with divorce papers. That happens to other people.

well, marriage and religion has a lot to do with each other.  Most people that get divorced don't have strong religious beliefs.  So this is over generalizing.

This makes me think about statistical lies.

Religious people do get divorced just as much (or even more), there are a lot of contradicting sources.
Usually people get abandoned by their church or community because of the divorce, or they leave so they never have to see their ex, or they choose to leave the church to save the face of their family and church. I've seen this happen.

Thus making them statistically non-religious when you measure divorce rate and you can say that religion has a low divorce rate.

My 2cts
2055  Economy / Speculation / Re: Honeymoon savings... hold or sell? on: September 21, 2014, 12:37:58 PM
See the fact you'd gamble with honeymoon money is sending a huge message to the spouse to be.

This!!

Assuming your American a honeymoon and wedding is a BIG thing!!

I do hope she knows you were putting this money into bitcoin?

The last thing you want in your relation is distrust, the idea you're gambling with money that has been set aside for a purpose.
You might resort to even stupid ways to cover it up like taking out a loan. This only makes things worse.

Problem then is that "when" this comes out she will distrust you and divorce is just around the corner.
What will she think that you will do with the kids college fund, money for vacation, etc. ?

Next thing is that you will not be allowed to manage the money you earn Tongue
2056  Economy / Speculation / Re: College senior Bitcoin Perspective. on: September 21, 2014, 11:43:26 AM
Most of the kids at my local university are more focused on dogecoin. Not really sure if that is a good or a bad thing.

And people think marketing doesn't work
:')
2057  Economy / Speculation / Re: College senior Bitcoin Perspective. on: September 21, 2014, 11:40:53 AM
Ask the same question during the next bubble. People will make a run for the pot of gold Smiley
2058  Economy / Speculation / Re: Today I bought 80 BTC (+220 before = 300 total in four days) - Finished on: September 20, 2014, 08:14:10 PM
now give them away Grin
(especially to me Grin )

Just kidding,

how much did you pay?

Why would you like to have bitcoins if they are worth $0? Smiley

Bitcoin = 0 $    , yes  Roll Eyes .

It is impossibile to bitcoin to reach 0$ of value ,   all the actual miners must to be turn off their actual miner hardware ( almost impossible ).

If someone hacks the core secuirity fundementals of BTC it can go to $0.
However the technology has been keeping the internet secure for years.
2059  Economy / Speculation / Re: Is The Dumping of Stolen Coins Causing BTC Price to Fall? on: September 20, 2014, 05:10:29 PM
Just hang on until the next halving

Still quite some time away.  Smiley

Round about 2020 supply and demand will be the other way around. More coins needed than mined making bitcoin go sky-high Smiley
2060  Economy / Speculation / Re: Today I bought 80 BTC (+220 before = 300 total in four days) - Finished on: September 20, 2014, 05:03:36 PM
Update: +80 BTC.  Finished with buying.

So you just casually threw $100k at bitcoin?
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