if bitpay integrated it, then suddenly tons of sites including Wordpress would be accepting LTC.
If anyone created a payment processor that accepts LTC in exchange for fiat into a merchant's bank account Litecoin would be no longer "just another alt coin". I do this. You can sell me litecoin for paypal and get cash. I started a litcoin friends page of facebook. If you like our page and send your wallet address I will give you a free litecoin. Because of the price volatility of bitcoin i do not feel safe holding large quantities of btc. I am going to look into litcoin as a method for my customers to get btc. If the prices is more stable or rising at a more believable rate I think I am going to hold litecoins and let my customers buy them and convert to btc. Just a thought right now but i am going to look into it more. I am not buying any btc at these prices I believe it is over valued and due for a major correction. I am not sure what is going to happen to ltc when btc tanks but will be watching. |
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You dont create wealth by holding bitcoins you create wealth when you sell btc and buy something real. You are describing consumption, which is actually the opposite of wealth creation. In truth, you create wealth when you acquire bitcoin. And if you hold them, you are abstaining from consuming that wealth, which makes all of us wealthier. So, go on and "hoard" guys! Looks like you only know one way to spend money. When I spend money most of the time I am not consuming, I am investing, Holding bitcoins does not create wealth it doesn't create a thing when you acquire btc. . When I invest in my business that creates wealth. When you hold bitcoins you create nothing! Really a poor post here I am guessing this is sarcasm. |
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Has that been fixed? It cost 1/10 to send a ltc coin?  |
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you somehow immediately disqualify yourself, when you make the allegation, that bitcoin is a series of bubbles while it is currently at a sma30 all time high (or something like that).
questions for your homework:
1. maybe people in general want to buy a different kind of products than "hardware" as you sell? e.g. i'm thinking of web-space, hosting, VPN, music, video, games, in-game-items, ... ever thought of that?
2. why is it a problem, that "the coin isnt acting like money"? hint: it doesn't need to "act like", because there is no need to "act".
bitcoin was in a bubble in 2011 it is in one now. If it keeps acting like this people wont use it. I dont even know what to say to way is it a problem that bitcoin inst acting like money. Money that you cant use like money. Why would that be a problem? Products do not conform to money money conforms to products. The wealth is the product bitcoin is just the representation of a promise anything can represent a promise. Seem like what I keep seeing again and again is people wanting other people to conform to bitcoin it has to be the other way around. |
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Well seeing that i sold 125k of boat parts last year I dont think that is the problem. Sorry i cant sell weed on the SR. My products are in demand they sell in dollars. The problem is the coin isnt acting like money.
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There is no double top. A double top has peaks separated by weeks to months.
...
Those peaks are on the 1st and 4th of Feb, which is three days. The pattern being formed is pretty clearly a bullish wedge. Not a guarantee that we'll break $21.5/$22, but an indicator that its likely.
http://bitcoincharts.com/charts/mtgoxUSD#rg30zigHourlyztgSzm1g10zm2g25zvThere is absolutely a bullish wedge on the hourly chart. Also, look how fast the retrace is out of the dips. Like a cat on a hot tin roof. Bitcoin is already putting a floor in at $21... Yep, just waking up and seeing this. I think we've already touched $22.00/BTC. To me, this is both exciting and disappointing. It's exciting because I'm holding a good bit of BTC in my wallet. It's disappointing because I fear that we might be heading into the "danger zone". A bunch of amateur speculators buying something like crazy rarely ends well. Another Bitcoin bubble and crash could be very bad for the BTC's long-term future. --ATC-- Very surprised by your analyses, I think we might be in complete agreement. I am very bearish btc right now. I was getting bearish at 19. |
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Specifically people can stop hoarding coins and use them as currency not just a speculative investment. You can help encourage that by offering goods or services for sale in bitcoin. Do so profitably, and you help everybody, including yourself. I do my part. I sell boat parts for btc (no one has bought), I ran an ad on bitmit for glass tobacco pipe (no one has bought) I started a business makeing it easy to get bitcoins for paypal. I was selling on ebay. I have given over 200 new wallets their first coin, I have 500 business cards for bitcoin, I have a facebook page with almost 200 followers for bitcoin friends and have 16 for litecoin friends. We just started litecoin friends and are giving away a free litecoin for liking our page. |
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I think that the major problems for bitcoin stem mostly from the monopoly status. Markets work because of competition, when btc has a alternative it will start to act right until then it is the gold rush the fools gold rush.
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It is hard to tell you what asset class to get into. In a fiat debt based monetary system it is difficult to find undervalued assets. I would recommend 10% silver 20% cash 40% real estate 30% digital currency. I believe that the world is going to enter into a huge deflationary collapse in the next decade. You should have a strategy of preserving wealth. I would not be 100% invested in btc! and I would not buy now. (22.37)
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I respect you opinion but I do disagree. People dont hoard tulip bulbs any more. Computer code is not the way to hold wealth but is an excellent way to send it. So when a coin is out there that is used and not held it will win out, if bitcoin can become it will grow if not it will end quick as myspace.
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I think this is truly sickening, and I am very sorry to hear about it. If normal people make mistakes that end up in financial loss, then there is the suggestion that you need to be "superman" in order to avoid this. Well I for one am not!
Goldmoney, and most banks banks do offer better security here, and (in my view) the reason this happened is because MtGox is not offering reasonable security here. Other exchanges such as Bitstamp are equally vulnerable.
Goldmoney sends an email pin, and disallows email changes. (Or maybe slows them down, I dont remember.)
I think IP address locking is also very useful. You could also do it based on geo-location based on IP address. Someone in Sweden wants a withdrawal? Well I live in the USA and sometimes fly to London, so do not accept it from anywhere else!! Challenge response is also useful.
There are lots of ways to do this well it seems to me and it seems to me that many Bitcoin exchanges are not doing it well right now. The non-reversability of Bitcoin means it needs to be done better than the companies doing fiat transactions do!!
100% agreed couldn't have said it better. It bugs me when someone has been taken advantage of and there is a huge outcry blaming the victim. Basically the claim goes like this.. It is your fault for not being a big enough tech nerd. It you read wired magazine everyday and spent 90 percent of your time online learning about bitcoin like I do then you wouldnt have gotten scammed. Bitcoin is beyond reproach and the community shares no blame. |
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Mark my words holiday you will lose it all. Why should you not hold bitcoins? because there are no barriers to entry, it can be done better, it is volatile. The wealth isnt the bitcoin. Bitcoin will not just go forever. You dont create wealth by holding bitcoins you create wealth when you sell btc and buy something real.
The money is an illusion the wealth is real, an investment is not an investment if it doesn't make you wealth.
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Specifically people can stop hoarding coins and use them as currency not just a speculative investment. Specifically people can start saying what can I do for bitcoin not what can bitcoin do for me, but that is not going to happen. What is going to happen is another coin will compete with bitcoin driving the price way down and crushing a lot people in the process. Bitcoins are just hot potatoes right now someone is going to get burned. Deals aren't good deals if they aren't good for everyone. What I am complaining about is not "just the way it has to be" it is just the way users have made it. Bitcoin can and will do better it just might have to be forced into doing what is right.
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No you dont get it at all. I love bitcoin  . Seriously I think it is the coolest most powerful thing that I have ever seen. I am a true believer in P2P currency. It really think that it is going to radically change the world. I am so crazy that I think it will end war and government and distribute the wealth more evenly. I think individuals being their own bank is awesome I mean truly awesome. What I dont like is how a bunch of assholes are ruining it and driving people away. |
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Bitcoin is in a greed and speculation induced bubble. The bitcoin community is full of crooks. I think that there are unrealistic expectations and a lot of ignorance fueling this mania. It is starting to look like a bad ending to me, series of bubbles and burst new adopters abandoning the currency for a simpler to use, secure and more stable. Maybe competition would help to level bitcoin out. Right now there is a monopoly on anonymous digital currency I hope that changes fast. I am going to be pushing ltc and any other digital coins that come out. I dont know if you can tell but i dont like what is being done with bitcoin.
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Procreation of the most greedy, or "survival of the fittest", is a myth perpetuated by sociopaths who don't understand evolution. On both a biological level and a societal level, the rule of thumb is "survival of the most cooperative." Mutual aid and benefit is the only way organisms thrive in an environment. It starves and goes extinct if it eats the last bit of its food source, so for long-term success it must act in a way that is mutually beneficial to its food source.
Same with humans; acting greedy might be advantageous in the very short-term, but to thrive long-term requires acting in cooperative ways that are mutually beneficial to the social environment. If not, you'll be a societal outcast and have nobody to trade with, and you'll starve if you aren't jailed/killed.
"the rule of thumb is "survival of the most cooperative." Mutual aid and benefit is the only way organisms thrive in an environment." This is what the greedy bitcoin community needs to learn. Selfishness is a virtue if you realize that helping other people is a act of selfishness. If the quality of life of your neighbor is better your quality of life will be better. Markets reward the individuals that do the most good for other people and punish the greedy and selfish. If you think you are going to game the system and hoard the coins and make millions you are a fool the market will punish you.
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Pay pal locks out based on IP address, If I try to access from a strange IP it ask me a security question. MT gox doesn't give a shit because they have zero liability. To all the tech guys talking about yubikeys and 2fa nerd stuff you dont get it people aren't going to do that. This thing only works if people use it. I am shocked to see the bitcoin faith in here. It is all worthless if people dont adopt it. If you think bitcoin is a retirement plan you are out of your mind.
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No one cares about that, what people care about is being able to use it as money. Thefts and scams are black eyes for bitcoin. Every person who loses 4k because of scammy bitcoin tells 100 people about it and do you know what they say?....They say well f@#$ bitcoin they dont ask.. well was it double encryption with yubikey did you have finger print verification, did you have retinal scans? did you print out your paper wallet then bury it in your back yard?
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