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Now is the time to go all in!
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No actually it's just you and me. I am an ELIZA bot and operate 99.9% of Bitcointalks forums accounts. Also I stalked you home last night. |
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if it would have been informal it wouldn´t appear in all newspapers.
Did you actually read the articles? It says just that. |
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FYI the is a) pretty old news and b) not recognition as such, just an informal response to an inquiry regarding the legal status of Bitcoin.
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There is currently not enough evidence to point bitcoin is in bubble as there are many buyers, not only the mtgox, but may be dangerous as the market is not fully ready to use mathematical being to count.
I currently notice three major players, two in my place and the btc-e. The btc-e has been doing better than gox at the panic time.
It does not really look like a bubble. You still haven't told us how you think a bubble does look like. |
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EM's PR tips for Gox:
Publish Bank statements of your USD funds, these don't have to include the funds you actually own just the ones of your clients.
Run a blog concerning all your current legal issues, you don't have to include every detail just keep everyone updated.
Change your system so that the amount of Bitcoin funds can be audited by everybody people need to know which addresses store their funds.
Don't ever invite Roger Ver again.
Common sense is, if things were all hunky dory, they would do just that. Bullseye. you could say the same thing to the FED
The thing is, their 'clients' didn't enter their Business relationship voluntarily. In principle you are right and it even sounds much to ask from a common business perspective (even for gox) However I think we can and should set a higher standard. After all this is supposed the future of finance, isn't it? |
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EM's PR tips for Gox:
Publish Bank statements of your USD funds, these don't have to include the funds you actually own just the ones of your clients.
Run a blog concerning all your current legal issues, you don't have to include every detail just keep everyone updated.
Change your system so that the amount of Bitcoin funds can be audited by everybody people need to know which addresses store their funds.
Don't ever invite Roger Ver again.
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EM will never shut up or get his facts straight
haters gonna hate. |
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Bitcoin price increases, the only reason anybody in the Bitcoin 'Economy' does anything.
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3 million isn't that a small number. Look at the orderbook ATH, it's shy over 20 million.
I don't think there is or was any significant amount above that ever on mtgox.
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good call
now for my 180
you mean MY 180   |
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Wasn't there a failed Bitcoin ransom demand out our midst a few months ago?
Something about Mitt Romneys tax returns, a USB stick and a Cat?
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This might be the most autistic thing posted on bitcointalk to date.
I laughed hard at this comment. It does seem that bitcoins attract quite a bit of the "intellectual" crowd. I'm a hardware hacker myself and I get inspiration from things like this. Well done Mr. Schroder. Well that mainly concerns it being called The Bitcoin Fluid Dispenser. Fluid Dispenser? Really? That yields an obvious punchline, and the fact that he doesn't even snicker a little when mentioning it throught the video lets me think he really is a genuine Aspie. Geez, lets call it Gas Dispenser, or maybe Fuel Dispenser. |
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I never understood the desperate need on behalf of so many in the community to 'prove' the 'Bitcoin is money'.
If you put it this way I can agree with it. I actually expect Bitcoin to retain a value based on being collectible for a very long time, just not some ridiculous number which would be required for it to be money. |
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The problem with compounding interest and the problem with deflation are essentially the same. Both choke off money velocity. The only excuse I've heard is that "It's actually good people don't spend their money." This stands in contrast to every economic theory, even Austrian Economics. Only "Bitcoin Economists" have come to this strange conclusion.
EM, the problem with the hoarding theory is that everyone disagrees with when to jump off the train. you, for instance, probably sold @ $2 after it bottomed @ $1.96 on the way back up. and it certainly isn't stopping everyone from buying new pc's. Actually I had a bitcoinica long position @2. The reason why everybody still buys PCs are because they provide value over the transistors their chips are made of. No matter how far down moores law, it's still a PC. This is actually an interesting comparison. Bitcoin could have been fixing the money supply to the total amount of processing power dedicated to it, or better the logarithm of it, this would have resulted in a sound limit enforced by physical limitations rather than the arbitrary 4 year halving period. As for me "giving up", lets see if Bitcoin hasn't been superseded with a superior design within a decade. |
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The problem with compounding interest and the problem with deflation are essentially the same. Both choke off money velocity. The only excuse I've heard is that "It's actually good people don't spend their money." This stands in contrast to every economic theory, even Austrian Economics. Only "Bitcoin Economists" have come to this strange conclusion.
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Like it or not, every cyprus-like event extents the longevity of the system exponentially. It reduces the deteriorating effects of compounding interest to the point of negligibility.
This is why Bitcoin will never replace the status quo and there is nothing you can do about it.
It likely never will but it doesn't need to replace the status quo either. It needs to retain value and nothing on the horizon is showing a change in that for now. Most of this value retaining properties come from the false promise of being able to replace the system with itself. This is why ultimately when it comes down to it it's a scam, not because of it's ponzi like properties but because of the deception encoded into the genesis block. Yes I am attacking the golden goose. What is "the deception encoded into the genesis block" ? Something about Greece and bank bailouts. In a sense Satoshi promised to solve the problems associated with that, he does not. |
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Like it or not, every cyprus-like event extents the longevity of the system exponentially. It reduces the deteriorating effects of compounding interest to the point of negligibility.
This is why Bitcoin will never replace the status quo and there is nothing you can do about it.
It likely never will but it doesn't need to replace the status quo either. It needs to retain value and nothing on the horizon is showing a change in that for now. Most of this value retaining properties come from the false promise of being able to replace the system with itself. This is why ultimately when it comes down to it it's a scam, not because of it's ponzi like properties but because of the deception encoded into the genesis block. Yes I am attacking the golden goose. |
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All im gonna saying is a many will suffer painful loses before any fuckin $1000 day.
Only the whales come out victorious...
No it will be the terminators.  |
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Like it or not, every cyprus-like event extents the longevity of the system exponentially. It reduces the deteriorating effects of compounding interest to the point of negligibility.
This is why Bitcoin will never replace the status quo and there is nothing you can do about it.
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