The biggest problem that I see with bitcoin is that by design, it is a deflationary currency. That's not a problem with bitcoin. On the contrary, Bitcoin's deflationary design is the SOLUTION to the deadly problem of inflationary fiat scrip. Due to all of the above factors, I personally believe that bitcoin will inevitably completely implode if it doesn't fade into obscurity first.
Bitcoin is a lottery ticket for its holders.  Lottery tickets never fade into obscurity.  No, bitcoin is nothing like the lottery. Lottery is - like fiat money - a scam for people who are bad at math. Bitcoin is in fact the inverse. Also, you should use less emoticons when conversing with adults. Overusing emoticons makes you look stupid and insecure. |
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Sometimes I think people on here are so against banks... Have you ever considered the possibility that there might be a reason ? |
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Yep, but not very much. Minimum limit to avoid bank fees.
Fiat is a depreciating asset, after all. Holding it costs money.
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I wish he would explain how Wall Street plans to monopolize on BitCoin since it is inherently decentralized.
It was invented to work without banks.
Anything can be monopolized and centralized with help from the government. Except porno! |
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I really don't like the idea of making any BTC non-fungible. That's a really dangerous precedent. If BTC is really money, then this is not an acceptable course of action, IMO.
This is a very dangerous precedent indeed. If we were to start by blacklisting the "FBI" coins then why would we not black list coins owned by a theif, or by someone who took advantage of others (but everyone agreed to the terms), or someone that had suspiciously good timing? Those who suggest that coins should be blacklisted are big government types, probably socialist and are to be avoided at all costs! Been gone for a while due to health issues but everything is OK now. Just kind of took a break from the madness of crypto! People that seriously have these kinds of views are extremists. I'd like to chime in as a social-anarchist with "extreme views". I don't support big government - I don't support any government. Because I don't support systematic violence, oppression, or exploitation. I am opposed to nation-states for the same reason I am opposed to capitalism - systematic hierarchy-based violence is ethically indefensible. We are not chimps - we know better. There is no excuse for this cruel and infantile behavior in 2014. We've had ethics and reason for far too long. It's well past time we socially evolve beyond a world governed by violence and embrace the gifts of reason and compassion. Regarding my perceived extremism... "The question is not whether we will be extremists, but what kind of extremists we will be... The nation and the world are in dire need of creative extremists." -Martin Luther King, Jr. "Civilization is based on a clearly defined and widely accepted yet often unarticulated hierarchy. Violence done by those higher on the hierarchy to those lower is nearly always invisible, that is, unnoticed. When it is noticed, it is fully rationalized. Violence done by those lower on the hierarchy to those higher is unthinkable, and when it does occur is regarded with shock, horror, and the fetishization of the victims." -Derrick Jensen "Whoever lays his hand on me to govern me is a usurper and tyrant, and I declare him my enemy." -Pierre Joseph Proudhon Yours in solidarity and compassion, World Citizen Beliathon |
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Are big bank/government shills real, or are there just a ton of bored motherfuckers on this forum...like any other forum? Government shills? I very much doubt it. They've got bigger problems... for now. Big bank shills? Wouldn't surprise me. Many of those major monopoly-bank-vampire-squids have more money than they know what to do with, so why not harass the competition? The usual internet assortment of trolls, morons, and scammers? Most definitely. |
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Is there any chance that this could lead to Bitcoin crashing or exploding?
All things are possible. There is a reason Bitcoin has leveled off - everyone is afraid to trade right now because of the uncertain impact of this auction. |
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Would it not perhaps be better to simply have bitcoin recognised as a currency in its own right by institution like the EU and the US? Seeking legitimacy from nation-states is both bad form and poor strategy. Nation-states CANNOT lend Bitcoin any legitimacy, because they have none to give. All nations derive their authority from violence, and are therefore illegitimate entities to be despised and resisted. Bitcoin is sovereign above all nations, because it does NOT depend on violence for its value. Bitcoin is the first form of money in the history of Earth with this unique and vitally important characteristic. Yours in compassion and solidarity, World Citizen Beliathon  |
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Not to be pedantic, but technically speaking, everything about fiat is bad for fiat and good for Bitcoin. Except perhaps current adoption during this historically brief transition period.
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maybe it's a FUD to make everyone sell bitcoin, haha.
do not care about China. : D bitcoin trend is still powerful.
Correct. Adoption is exponential. There is no stopping Bitcoin, and the Chinese will come around sooner or later - they have no choice. No one does. All fiat scrip will continue losing value, while Bitcoin continues gaining until fiat is little more than a bad memory.  You are here:  This game was over before it began. |
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I have read a different places that Satoshi holds 1M Bitcoin. Is there any definitive proof/explanation for the same ?
Is there anyone or any institution holding more coins than Satoshi Nakamoto, e.g. Winklevoss Brothers or GHash.IO ?
Satoshi Nakamoto holds 0 coins, but has given 1 million coins to the rest of us via deflation. |
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So what do you think about those numbers? Isn't safe to assume that half of the Bitcoins have been purchased at market price i.e. $600 and the other half at much lower price? 42 bidders is a very small number. I would guess that the other half have been acquired at <$500 and inevitably will be sold on Monday to the market driving the price below $500...
Any thoughts?
Just one. Anyone with enough financial leverage to afford a 1.5 million dollar buy should also have enough financial savvy to hold that investment for uber returns within a few shorts years. Only a retard would sell in the same week they bought, speaking as someone who bought my first BTC at ~$150 Q3 2013 and sold my first BTC at ~$800 Q4 2013... Even noobs know a few months patience can pay off big time in the world of Bitcoin. |
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I think Satoshi expected Bitcoin to be this small, for now, during this brief transition.
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who cares about him...
Because he's a genius? ..and by genius, I mean fucking retard. Unfortunately, we are constantly being programmed to worship these morons. Correct analysis. Celebrities are not our peers, they are our gods and goddesses. It's all the same bread and circuses, same old shit different era. |
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Paypal is a total scam/joke and they are integrating bitcoin only because Bitcoin would will put them out of business .. legacy payment systems will soon be are obsolete
Fixed that for you. |
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Most altcoins have a tiny market share  Most altcoins are losing value against Bitcoin  |
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