No. Never. The value of Bitcoin will reach 3,000 max in the next 3 years. Then the value will dissipate into alt coins that are faster and don't require a unit such as 0.0001 for a cup of coffee.
true. Because of that gold is worth nothing, because how much is one cup of coffee in kg of gold? the software will change...... it will be 4000satoshis for a cup of coffee...... in time perhaps 400satoshis..... and maybe 40 satoshis. |
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To be honest, I didn't think it was going to happen so soon, my prediction was for a lot later but it looks like things were worse than I thought, either that or the federal reserve are going to yet again rush in and 'save' the day for awhile longer.
............Im digging around on news sites for sentiment.....and it seems like everyone is calling for a 'major top' in stocks. Well I dont know what to think about that because I think we are near one. what's the use of sentiment when you agree? A trend in sentiment Ive seen on a lot of blogs goes something like 'death to the dollar' - swiftly followed by tapering. Everyone thinks the fed is bluffing and will keep printing. that is consistent with a crash in stocks.... maybe we should look to the reaction from this weeks NFP. |
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if you know about bitcoin, you know it's not a ponzi scheme. If they call it a ponzi scheme then they must be ignorant. How can one argue with an ignorant person? I would love to have a witty answer but it simply doesn't work no matter how valid it is.
I reserve ad hominem for all these special people.
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Holy shit guys! It's getting much worse O_O S&P is taking a serious hit now too.
It has to come some time.... is this gonna cause a fast panic when it comes? there must be a lot of smart people with their finger on the trigger. |
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...The other issue is that the global elite don't really care about us one way or the other. They do what's in their own perceived best interests, and if Bitcoin becomes the best of their available options, they'll take it.
Exactly. The power brokers of the world do not behave like your jealous friend from high-school. If bitcoin will help them, then they will use it--if it makes you wealthy in the process, so be it. I would generally agree, but I dont believe for a second that the big bankers are an elite race. They can make mis-judgements, bad assumptions, and they do. The wealthiest are not so because they are smart, they are wealthy because they are bastards. There must be some bankers that see the value of bitcoin but certainly there must be some dinosaurs up there that will not have a word of it. I think a lot of banks have missed out. too bad for them they cant bend the rules this time. |
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Does it really matter? Overstock just sends Bitcoins to Coinbase and converts them to dollars at the price Coinbase posts for that 10 minute period
This is no longer correct. Overstock now keeps the bitcoins, does not sell them. Citation needed he may not keep them all, but he obviously keeps a lot. |
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I like alt coins and have owned a fair few over the last year.
Most of my current value is in Litecoin, but only because it actually has a real cash value away from bitcoin. I also like Peercoin and recently got very interested in Nxtcoin.
However, the trick is to realise that alt coins are the future. Bitcoin is currently doing the work of introducing crypto currency to the masses, but it isn't going to be the coin used by the mainstream. That is going to be an alt coin.
History teaches us that change comes through little differences. Technology is no different, and the past 20 years has seen so many examples of this. The internet started for the public with glorified text files. By today we can video chat with individuals while we watch live TV and shopping with international traders all on the same screen!
What bitcoin fanboys need to remember is that none of the above example can not be done with the glorified text file internet of 1992.
Bitcoin gives us structure
Nxtcoin gives us proof of stake and true decentralised trading
Just remember it took years of awful search engines before Google turned up and gave us everything we wanted. Nobody remembers the first search engines like webcrawler and Altavista - yet without them, Google would not exist.
The next alt coin will give us the next step towards everyday use, and the cycle continues.
If you are not diversified into alts, your bitcoin pension pot is going to be worthless! ;-)
This is so very possible its not funny. I also had a nightmare where google releases a pre-mined coin backed by a million GOOG shares. I mean it would murder bitcoin over night. So far, all the coins proposed by large organisations are centralised. JP morgan, google, and ripple. smart money will not flow to those, but I fear the same as you do, the ignorant would first support a google coin. It is a terrible test. the people have an opportunity to save themselves....... will they choose google coin? Id rather they choose dogecoin.... |
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the answer in the bitcoin universe is always.. always.... '2 weeks'
...........How long until we reach 1 trillion market cap? |
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can you blame him?
there are far too many people round here that have no philosophical grounding.
then there are people like proudhon... bless his soul.
the top dogs dont want all that.
Philosophical Grounding....? ......What a load of old bollocks. Bitcoin is driven by avarice and I suspect a creeping sense of power and control felt by those who make these markets. For this reason and this reason alone, the nominal valuation of Bitcoin has shot through the roof (limited supply), yet its' actual real world applications remain very limited, and perhaps an argument can be made that Bitcoin's overvaluation is now inhibiting it's uptake in the wider economy, despite the best attempts of certain whale entities to hold Bitcoin in a certain price range. Everyone with a bit of sense knows this, and who is going to place any of their eggs on a battered beaten up wagon that is being held together against all the laws of physics by the will of the wagon driver(s) to not allow it to break? The very same wagon drivers who were perhaps responsible for ripping the arse out of the whole thing to begin with? Bitcoin might be the first of a kind, the harbinger of a technological era credit transfer process, but when we get down to its bare bones, its just the same old market cornering shite that has always went hand in hand with finance throughout history and right now there is a lot of shaking down to be done and nobody will be shaking down any of my pennies, pounds, or dollars. Sorry, but anyone who wants to profess a 'philosophical grounding' in Bitcoin right now is a bit of a clown as far as I am concerned..unless of course they took their stake in the game nice and early, in which case they can afford such mental self-indulgences. do you know what philosophy is mat? it's the study of validity, consistency, entailment, plausibility. do these ring a bell? no? you have just presented me with a red herring fallacy. you are continually guilty of ad hominem and strawman fallacies. Really I try with you mat but your arguments just dont equate to anything. |
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Interesting what's going on in Australia.. unusual enthusiasm for BTC based on population and influence in the rest of the world. Good sign.
Im in New Zealand, and there are a few good local traders on Localbitcoins, but other wise we are very behind. There have been no reports for a long long time even mentioning bitcoin on mainstream television. I would say awareness of Bitcoin in NZ is as bad or worse than the USA.... We went on vacation to New Zealand (Drove from Queenstown to Auckland in two weeks!  ) in August and was looking for somewhere to use BTC or even trade USD for BTC but did not have much luck. It was probably better to hold on to BTC anyways but we were hoping to save a little on fees the banks charge just to exchange currency and thought we could spur the community on a bit while we were at it. New Zealand is the MOST beautiful place on earth BTW! At least of all the places I have been, and I have been to almost all of the USA, including Hawaii a couple of times. We have some family there so it was nice to visit them for the first time. Loved it and want to go back for sure. Yeah New Zealand is great, especially outside of Auckland! but anyway, come back in a few years when your BTC is worth 100x  and you can come sail on my 45ft yacht  when tourists drive about asking people if they accept bitcoin, that's a really good way to get the word out... it's all about repitition. when they hear the word 'bitcoin' enough they will eventually google it. We have much time still however. |
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Interesting what's going on in Australia.. unusual enthusiasm for BTC based on population and influence in the rest of the world. Good sign.
Im in New Zealand, and there are a few good local traders on Localbitcoins, but other wise we are very behind. There have been no reports for a long long time even mentioning bitcoin on mainstream television. I would say awareness of Bitcoin in NZ is as bad or worse than the USA.... |
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What defines a "top contributor"?
Bitcointalk has 200,000+ users. The new forum is aiming to get members from the 1,000 most prominent, knowledgeable, understanding, eloquent, smart, etc. among them. The most important criterion is deep interest in Bitcoin. No trolls. No lurkers. Later on some part of the forum will be made public so that the lurkers can also benefit from our work. that sounds so pretentious. and all this for a P2P network...  can you blame him? there are far too many people round here that have no philosophical grounding. then there are people like proudhon... bless his soul. the top dogs dont want all that. |
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What defines a "top contributor"?
Bitcointalk has 200,000+ users. The new forum is aiming to get members from the 1,000 most prominent, knowledgeable, understanding, eloquent, smart, etc. among them. The most important criterion is deep interest in Bitcoin. No trolls. No lurkers. Later on some part of the forum will be made public so that the lurkers can also benefit from our work. Im sorry that I trolled your post earlier mr. Rpietila. I wont do it again. Can you please tell me what a lurker is? |
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I think that a precursor to Amazon accepting Bitcoin will be a lot of insider buying. with this in mind, the price may drop soon after this is announced.
perhaps the insider buying has occurred....
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http://www.gizmodo.com.au/2014/02/100-bitcoin-atms-land-in-australia/that's a lot of atms..... how many months does it take to set these things up? This must be going on all over the place, soon a lot of people will have easy and secure access to bitcoin. (is that a good thing really in terms of speculation?) printing all these paper wallets must be the #1 cause of lost bitcoins these days....
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Looks like nothing happened.
Rome wasn't built in a day..... .....it wasn't destroyed in a day either. yeah but on 31st of january, which is in the topic of this thread, nothing happened, so your comment is a quintessence of stupid - it does not contradict the original post, it adds a useless and irrelevant historical reference, and it suggests that something bad will happen based on nothing. you would be better off to just not type anything next time if you have nothing to say. when in Rome, do as the Romans do...... Well that at least adds to the conversation because it has meaning  Still, it is sad watching this subforum turn into a steaming pile of crap posts. Maybe it's time to kick some roman ass! 31st has come and gone. nothing happened. this thread is history. (good call) - 'all roads lead to Rome.' |
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Looks like nothing happened.
Rome wasn't built in a day..... .....it wasn't destroyed in a day either. yeah but on 31st of january, which is in the topic of this thread, nothing happened, so your comment is a quintessence of stupid - it does not contradict the original post, it adds a useless and irrelevant historical reference, and it suggests that something bad will happen based on nothing. you would be better off to just not type anything next time if you have nothing to say. when in Rome, do as the Romans do...... |
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I agree with this, i think we're going to see $500-$600 range again. I'm still not convinced we can keep going up without the price bottoming out one more time, It's not unrealistic to expect this price. Especially if positive news come out of china, think about it big investors dont want to buy BTC for $800-$1000, they want to get in cheap to maximize their long term returns, so they will manipulate the market accordingly.
But i don't agree with those calling for $200-$300 , that will require a massive event that threatens Bitcoin's existence
the smart investors already had their cheap bitcoins......twice. 550 and 350. we could go back again, or we could be on the next wave. neither would surprise me. I think it's a pretty fair bet. |
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Ok, which chineze whale has the balls to push this sucker trough the 5k barrier.
thats just what F. Bernanke would say.... |
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Money printing IS credit creation.
no, it isn't directly.. credit creation creates more debt money that gets cancelled out when debt paid, money printing is an absolute increase I don't believe money printing is debt creation because we have seen a commensurate rise in bank reserves. we have also seen a rise in debt.... huge debt. the banks own the credit..... people own the debt.... |
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