Really? Could you please explain how those 100'000 people get more "freedom from oppresive governments" by using bitcoin? Is "freedom" just evading taxes, or buying illegal drugs, weapons, child porn -- or is there something else?
Claim: in its 6 years of existence, bitcoin has caused 1000x more damage than benefits to the world.
Bitcoin has given me hope to be one day free from the ideas that governs your way of thinking. Thanks for continually remind me it with every post you make. There is a group of casinos near my property that has done 10000x more damage than Bitcoin. I've heard of so many families destroyed, homes lost, and gambling addiction leading to crime or worse. Casinos pay fines for cheating smaller than their take, so there is no incentive to do so. They cause drug cartels and organized crime to enter nearby towns and cities. Bitcoin could eliminate cheating casinos and replace them with provably fair ones. Silk Road already proved that Bitcoin prevents drug dealing and other crimes. The biggest problem with JorgeStolfi is he thinks too small. Its people like him that prevent the needed help from getting to victims of government abuse. I agree on the fact that gambling is a serious problem, but I don't get how is this related to Bitcoin risks.... in fact mix Bitcoin risks with gambling risks and you get a killer new risk that have never been introduced until Bitcoin inception. - First funny fact, there is no such as "fair gambling". - Second funny fact, gambling transactions makes a big piece of Bitcoin daily transactions volume, if not the biggest.... which really gives you a picture about how Bitcoin is used, and about the current user base. (excluding the hoarders and traders) - Third Funny fact, Silkroad is one of the sites that destroyed so many lives, even the lives of those idiots who did run it, thanks to Bitcoin. |
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Seems that Bitstamp is dying slowly.
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Someone is trying to squeeze shorts really hard... lets see how things develop if this really happens.
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I love bulls, this will end so bad for most of them... and to be honest, I kind of like it  BTW, I don't think it is going over 300 |
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WTF is wrong with this forum
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the price going up a bit is a good sign, I think it can go up to $260 then the next big dump will follow.
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Otoh is pumping his shitty investment, he bought almost 200K DRK (or even more) at the bubble last year, and now he cant sell on this thin market without crashing the price to 0, so the only thing left to do to save his investment from vanishing is to pump it and sell in batches.... and he don't seem ashamed about it.
What's the logic to pump thin market without real demand ? I guess he will learn about that the hard way, wont he ? Why do you think he's doing this in the hard way ? There are particular signs that DRK is preparing for the next surge after months of equilibrium. We'll see soon for sure. Really?!! what daily volume we are talking about ? ....I had around 5K DRK last year and it took me a whole week to sell it without moving the market, it is just pathetic, beside the whole anonymity things is just over sold, Bitcoin dark wallet will offer better anonymity without relying on centralized master nodes... so I will pass on DRK. |
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Otoh is pumping his shitty investment, he bought almost 200K DRK (or even more) at the bubble last year, and now he cant sell on this thin market without crashing the price to 0, so the only thing left to do to save his investment from vanishing is to pump it and sell in batches.... and he don't seem ashamed about it.
What's the logic to pump thin market without real demand ? I guess he will learn about that the hard way, wont he ? |
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Otoh is pumping his shitty investment, he bought almost 200K DRK (or even more) at the bubble last year, and now he cant sell on this thin market without crashing the price to 0, so the only thing left to do to save his investment from vanishing is to pump it and sell in batches.... and he don't seem ashamed about it. here your go: YVW! As promised, I've topped the Crsptsy wall back up to > 100 BTC now  So if anyone feels like unloading a few, please to feel free  Yes, the BTC there were temporarily tied up with day trading the > $300 jump, will edit to provide screen shot.  :p |
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And Longs are also dangers, in this case the longs are more dangerous than shorts, by looking at the charts bellow you can see that there are almost $15 M in longs, assuming these longs would be closed at today's price, this would create a selling pressure of 69000 BTC, this would bring the price to......zero, I don't know what bulls are thinking about when going long. in the other hand shorts are around 20.5K BTC which seems 3 times less than the longs but still dangerous.... with the price still going down there is a big possibility of longs squeezing then the other possibility . Longs Shorts |
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I' curious how finex will stand up against the other exchanges now...~3500k BTC @ 220 on Finex while the other don't really have any resistance....
Shorts are going up slightly, but longs are barely moving down, if the prcie continue this way, longs may get squeezed and a flash crash to sub $150 is very possible. Longs Shorts |
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The current average cost of production of bitcoins is in excess of $300. Purchasing a good below cost of production is considered cheap. Make the most, it wont last.
This is just ignorant statement, price is defined by demand and supply and not by the cost of production, even when assuming that the cost of mining a bitcoin today is $300, what about the bitcoins that were mined last year and the year before that and so on ? the cost would be so small that today's price seems crazy profitble.... even if we consider this to hold, cost is defined by difficulty factor and mining expenses (mainly electricity) and hardware cost, assuming that the expenses and hardware cost are fixed the difficulty will drop down until the mining operations are profitable, therefore the cost is acceptable. for someone who have been a long time around some of your statements are so ignorant, maybe it is only the fear talking....maybe you will be of those stuck holding the bag. |
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Look at the bears go 1-2% decline in price and they start gigglin like a schoolgirl It's cute True. Haha. -28.78% in last 30 days , still funny? +10000% in 4 years. Yep, hilarious yes, but did you buy 4 years ago @ $2 ? |
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mmitech is just butthurt he didn't get back into LTC ~$1.20 and missed the pump.
didn't buy it and not thinking about buying it, I have to admit LTC was the best performing coin in my portfolio, made good money with it but I don't see any reason for its existence... the pump and dump is over, and now it is just a bad copy of Bitcoin that doesn't want to change nor get special.... if I am going to ever invest in alts I would invest only in the promising v2.0 coins such as Ethereum, I would invest even in ripple and not LTC. |
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It makes sense, but I also like your theory about more trading = more fees.
I edited my post, the logic in the previous one didn't make sense, the edited one make more sense. |
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Weekend dump, or weekend pump? That's the question now.
Oay attention to the sell volume LTC/BTC. Its higher than the buy expect to see BTC//USD go up. your theory don't make any sense, I saw your previous posts and I still don't really get it, I think it is just a conspiracy theory you have there.... I think it makes sense. So take a look at what's been going on @ BTC-E for the last section of time. Right now: 1) they are Dumping bitcoin for litecoin. This is decreasing the cost of bitcoin and raising the cost of litecoin. 2) they are then selling litecoin for usd. 3) then they can buy bitcoin w/ usd, cheaper than what it was previously being sold at. The inverse also happens when pumping bitcoin to increase litecoin holdings. It's a nice little triangluar pattern that they've been doing since the last bubble. That combined with the massive amount of shorts has allowed market makers to increase holdings/profits while keeping others suppressed. IMHO What's even sicker is the trades seem to happen near instantaneously between ltc/btc and ltc/usd, which as Sitarow suggests, keeps value at equilibrium. I just wish I could understand it a little bit better to try and play the swings. 1) So they are swapping BTC for LTC, OK this doesn't decreases BTC but increase LTC price 2) Then they sell the bought LTC for USD which decreases the price of LTC to the previous price, now LTC price is decreased. 3) Then they buy Bitcoin cheaper, and somehow pump the price a bit, and then they repeat the same thing.... If all this hold for truth, all they are doing is pumping BTC and creating volume and volatility, so they are forcing traders to trade which grant them more fees.... it just happened to be LTC and BTC because they are the only coins they have any volume on their site. Besides, if only BTC-e was a market leader, I mean who even still trade at BTC-e ? |
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Weekend dump, or weekend pump? That's the question now.
Oay attention to the sell volume LTC/BTC. Its higher than the buy expect to see BTC//USD go up. your theory don't make any sense, I saw your previous posts and I still don't really get it, I think it is just a conspiracy theory you have there.... |
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Weekend dump, or weekend pump? That's the question now.
I think (80%) it is going to be a dump... |
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Good luck with your gamble to bully Coinbase into settling with you to avoid bad press Bay. I hope your lawyers are typical lawyers that do not worry about the law getting in the way of a good steamrolling, and you better hope they don't take it to court. Or worse, counter sue and steamroll you in the battle of "which lawyer is better".
I can see Coinbase's rep on the stand:
"it says in this article 'Bitcoin prices spike after news of first regulated U.S. bitcoin exchange'."
"Are you a bitcoin exchange?"
Coinbase Rep: "yes"
"Do you follow any regulations?"
Coinbase Rep: "yes, as a US business we face many regulations"
"So...what the fuck does this BayArea guy think he is doing?"
Coinbase Rep: "I have no fucking clue, we are counter suing him for being a dumbass"
Judge: "Case dismissed, counter suit awarded in the amount of one billion dollars (to be paid in bitcoins...Bitcoin to da moon!)"
hahahaha, bull's wet dreams... |
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I doubt the masses are interested in dealing with bitcoin when there are other alternatives like Applepay or ripple and others which are actually faster than bitcoin since it can take up to half an hour or more for the confirmations to go through. Sure some merchants accept 0 confirmation transactions but that's not secure, you don't need the blockchain if you have to trust strangers...
I don't see it replacing credit cards when you have to buy groceries or whatever. Especially in the eyes of the masses who don't put decentralisation above how fast/easy it is to use it...
Also bitcoin transaction fees will be eventually higher as block reward is reduced (long term as you say), that is one of the limitations of the bitcoin blockchain and his proof-of-work...
Maybe other cryptos like nubits or ripple or others will make it regarding fees, not sure about bitcoin.
Listen to this man. It's all about what your average consumer wants. They don't care about the blockchain, or decentralization, or cryptography, or any of these buzz words. It doesn't matter if the government runs it, a gigantic corporation runs it, or if it's driven by a block chain. They want something quick, easy, and reversible. If that's Bitcoin, fine. If that's a credit card, alrighty. Ripple, Applepay, etc? Doesn't matter, so long as their simple demands are met. Something to ponder: In the physical world, business moves at a certain pace. Anything internet-based is competitive beyond imagination and moves at an lightning pace. Whichever payment system survives, it will have to be flexible. That means new features being implemented in months, not years. That means not having to beg and plead for a miner consensus. Like it or not, delivering the latest and greatest features to the consumer will require centralization. Bitcoin must adapt, innovate, improve, compete, etc. or it will perish. We don't want reversible transactions.... Around October last year someone screwed me for around €7500 worth of BTC, I never saw that money again, if that money happened to be stolen/hacked from my Paypal account or Credit Card It would be back into my account in a matter of days, it hurts because I didn't find that money laying around somewhere, that amount of money is critical to many people, in fact it is critical for me as well but I didn't go bankrupt, and I learned my lesson... do I hate Bitcoin because of that, NO... will I recommend using Bitcoin to my family and friends, Hell no, not at this point. There are so many things that needs improving before Bitcoin can get the mass adoption it needs, right now it is just a hype get rich quick scheme for the delusional hopeless speculators. |
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