You do NOT really support any argument that supposedly bitcoin is a cult by citing a 2 month old article that argues that bitcoin is a cult by stating that bitcoin is a cult.   It is just a stupid-ass argument to suggest that bitcoin enthusiast are following blindly and that they are true believers and that they are in a fantasy... blah blah blah.    The arguments are denigrating, superficial and selectively attempting to paint a picture with little to no evidence, besides maybe some anecdotal evidence and also some feelings that bitcoin feels like a cult.     

The involvement of people in bitcoin did start with technological people, yet there already exists more variations in the profiles of adopters, and those adopter profiles are going to become more and more varied as more and more adoptions takes place.. .it is just a phenomenon that is evolving, as you should know better, rather than spreading this superficial information.

You just did.   

In the past 5-6 months, I have found this news to be considerably amazing - like how could one city need or use so many bitcoin machines? 

If bitcoin were to become a central aspect of the Dubai economy, then 400 ATMs would make sense....

It just remains interesting to me about 400 ATMs going into place in one city when about 99% of the world's population likely does NOT even know what bitcoin is, or at least NOT even invested 1 satoshi into bitcoin.

To my lil doggie and me, it seems that you need to spank your monkey.  Sometimes I spank my lil doggie, when she engages in inappropriate/damaging behavior(s). 

I understand that there are some illusive aspects to free will, and I have done some of my own research into the topic over the years.  Why can't you explain your theory about why free will is illusive? 

Personally, I am NOT going to merely throw up my hands and act under some kind of simplified concepts that free will does NOT exist... even though there is a lot of framing and limitations of my circumstances and the circumstances of others by and because of a vast array of social / psychological circumstances.

Well, you are probably correct, overall, but still it is NOT really a good idea or practice to suggest someone is stupid, merely b/c s/he is religious or merely b/c studies say that it is likely that s/he is stupid or even one or two comments from him/her tend to support that the person may be stupid.  Even if, in the end, the person really is stupid, it does NOT seem to be a very good idea to call the person stupid, that just causes inflammation.. even if the assertion is true.

So, I do NOT necessarily disagree with you, that you may be correct, I just have some troubles with inflammatory oversimplification(s), but I will grant that sometimes inflammatory oversimplifications may make the point(s) more quickly, directly and clearly.   

Can you say the overall punchline of it, especially since it is in Italian? 

Was the proceeding positive? 

Was it just gathering evidence for consideration of the government concerning future legislation?

Can you help us out a little with some kind of overview?

Hey Blitz.... I am very excited to notice that you got rid of that misleading definition of FUD from your signature ... that is great!!!! 

In order that we can better understand the meaning of your statement, above, are you now back to using the commonly accepted meaning of FUD?  That is "fear, uncertainty and doubt"?

Even though the article appears to be pretty well written, the whole concept seems like the attempt to spread FUD and to place way too much weight on some kind of dark cloud that could exist, but is unlikely to exist in the real world.


Accordingly, Gizmoh, are you selling all your bitcoins while the price is in the $560s or are you just going to hang out here for a while (maybe a year or two) and edumacate us regarding the inevitable downfall of bitcoin (while the prices are going up.... hopefully, soon)?  Oh.. and Gizmoh.. .dont miss out on the next buying opportunity created from this various FUD spreading... so then maybe you can sell at $1k or $2k rather than selling at $560.

Probably, we are NOT getting rid of you soon...  That's too bad...   

It is NOT likely that we are going to agree on these various intellectual distinctions that you want to make in order to rationalize your behavior.  In the end, you have your various values and your various ways of conceiving your values and how to consider whether your money is appreciating or depreciating in value and whether that methodology is acceptable for you. 

Ultimately, it would probably be a big waste of time for us to attempt to sort this kind of thinking out and to make these kind of distinctions in this thread b/c these kinds of distinctions would probably confuse various readers (including  ourselves) beyond any utility that we may gain to better understand what we personally should do in order to apply an acceptable financial model or strategy for investing our money into various assets or asset classes.



Surely, each of us have various religious and/or ethical and/or perceived legal boundaries that will cause us to place limits on how far we will go to personally profit.. or whether we attempt to manipulate or influence the behavior of others or to merely make ourself (ves) as a role model for others to emulate.  To the extent that you are allowing various kinds of beliefs about the impropriety of earning interest or participating in forms of usury, these kinds of concepts and limitations seem to be much beyond the considerations of a lot of others participating in this thread and forum.  Surely, you can apply these kinds of concepts to yourself and proclaim to your self that you are a moderate all that you want; however, if you are incorporating these ideas into your approach(es) about bitcoin and/or your future planning concerning your bitcoin proceedings, it seems likely that most people here are going to be merely distracted by these kinds religious limitations concerning interest and whether one kind of investment is ok .and another kind of investment is NOT., based on religious beliefs...   In my humble bumble opinion, that just seems too personal to be muddying up the thread with those kinds of personal considerations.

You are engaging in very fuzzy logic if you are attempting to equate the pursuit of money as if it were a religion - even though both may share some components...   You are simply over-simplifying the matter.

Here we go again with these bullshit assertions that bitcoin believers or enthusiasts are some how engaging in religious and/or cultish behaviors....

You are ridiculous Blitz.. to be coming up with and spreading this baloney.. and you are supposed to be a moderator, no?  That's what it says next to your name... and avatar...

By the way Blitz... since you are a moderator and in the "know,"  can you make it so that I can have an avatar too?  (after I just insulted you... he he hehe?    )




HELLO!!!!!

Even though 0% and 1% were presented as current potential bank interest rate options, NO one, with any kind of financial astuteness above the level of a drunken teenager, should reasonably be considering keeping large sums of moneys in any bank account(s) for two years.. that seems to be very financially irresponsible, unless there is some kind of explanation concerning why that seems to be a necessary or prudent course of action.

Yes, but frequently religion, cultish beliefs or behaviors and/or superstitions are so ingrained into people's upbringing that I find it very difficult to blame them for it... especially, NOT right off the bat.  Now, if I engage with someone for a while, and they persist with certain kinds of idiocracy, then I may choose to engage them on the topic.. it depends upon the circumstances.. sometimes, it may be better just to live and to let live, rather than to engage (that goes for sex, politics and religion - and possibly some other personally sensitive topics, as well - eg. .. feelings about bitcoin.. hehehe.. just kidding..    )

I would NOT call any body stupid or their actions stupid b/c of religion, yet Gingermod seems to make a point (whether sufficiently sensitive or NOT).

I suppose that distinctions can be made - however, investing into bitcoin involves many similar financial principles as loaning money, especially given its limited supply.  You buy 100 BTC in 2012 for $10, and then you sell them in 2014 for $600.  The value of BTC has appreciated.. and can be considered a form of interest that is shared by the whole BTC community.

Anyhow, it does seem like your religion may be affecting your considerations (in possibly internally contradicting ways), and maybe also that is part of the reason that you are reluctant to get into specifics concerning your having had cashed out half of your stash to cover a two year period of time, when likely more financially prudent approaches could have been made and or considered.

Also, I am speculating somewhat that your religion may be causing you to fail and/or refuse to make some detailed and potentially internally contradictory analysis regarding your financial planning concerning bitcoin.

Again, that is for you to decide those boundaries; however, when you are posting on a board like this, hopefully you realize that many of us are considering these matters without RIBA type influences in our analyses (and investment considerations).

In a subsequent post you answered more of my question(s), and I have NO intent to ignore any of your response (on purpose), to the extent that any details are provided.  

Additionally, I have NO problem with each of us establishing a plan with which we are comfortable.  I am NOT really very clear about your plan, and I do NOT necessarily need to know many details - especially, if you are reluctant to share such.  Further, I have made my various points of concern regarding what I understood about your plan in my previous posts, and if you are comfortable that your plan is adequate, then so be it, for you.

By the way, I agree with you point about the considerations being greatly different for investors depending upon their average BTC buy-in price... and a guy in the red will be considering the matter differently from a guy in the black and a guy who is in the black by 10% will be thinking differently from a buy who is in the black by 4,000% or some other such number.  I do NOT concede that percentage ahead or behind completely changes the analysis, but it does bring additional considerations to any such analysis about how to proceed.

The best of my current bank accounts only pays about 1% interest, and possibly you could get 3 or 4% if you have some kind of premium bank account and if that is what floats your boat, then who am I to say?

Actually I have NO problems with people making choices for themselves about when to pull out or what is their risk/diversification tolerance(s).

MMItech's plan, on the other hand, seems to assume that his risks would be better diversified with half of his BTC stash in some NON-BTC investment (and spending it), but he never really stated what that was. He merely stated that he was going to spend his money for two years, which does seem like a form of blind bragging. 

And I was merely attempting to question what was his plan, and maybe I could have asked my question(s) more clearly or more politely (but seemingly bragging responses do kind of irk me a bit)? 

Anyhow, if one assumes that BTC is going to be stagnant for two years, then it would be prudent to pull out two years worth of spending,  but a prognosis of flat or down turned BTC prices seems a pretty improbably direction of BTC prices, and just an excited utterance to do something based on emotions of the moment rather than really having a decent plan (or at least sharing aspects of the plan wiht us).... ...

He said that he cashed out half of his BTC yesterday b/c he has a plan to play with the proceeds for two years.  I said that his plan seems to be very short sighted, especially given the likely direction of BTC in the next six months.  Therefore I asked him where he planned to put his investments, and he failed/refused to answer, and instead stuck to his original framing about how wonderful he is., etc etc etc.. for making so much money, while he left quite a bit on the table through neglect and/or lack of foresight, so it seems.

other posters mentioned morrowind and elder scrolls.... b/c I do NOT know WTF are morrowind and elder scrolls... even though those topics may be relevant.  


Regarding, "get a life"  Yes, we each have lives and we choose how to spend our lives, and part of my life, at the moment includes posting on this forum and responding to relevant issues... and attempting to contribute to the forum (thread) in a productive direction.

Yes, and you failed/refused to answer my various questions concerning where you are putting that money and the likely direction of BTC in the next six months..   To me it sounds as if you got anxious... but you do NOT really  have much of a plan for where you are going to put your funds, and if you do have a plan, you are NOT disclosing it, here.... b/c you are too focused on NOT answering my questions... and just bragging about how you made the right decision and about how much money, you supposedly made by your wise choice to cash out at this particular time.

I have NO problem(s) with diversification of risk, and I have NO problem(s) with raking profits.  And, also I have NO problem with guys deciding what they want to do with their own money... but to me, it seems as if you clearly left easy money on the table with your seemingly short-sighted anxiety.

In this regard, it just seems a bit lacking of perspective of the likely direction of BTC compared with other assets to rake half the BTC stash at this point, even if half the stash will provide 2 years of fun in the sun for you.

By the way, there are others, besides you, who have quit their jobs and do NOT really need to work for a living or ONLY work a small amount..  based on various investments that they have made over the years.   

A guy does NOT need to be overly optimistic to believe that your selling below $600 now for a two year plan to spend it seems pretty short sighted... NOW on the other hand, if the price does NOT go above $600 in the coming 6 months, then I will applaud your foresight and/or luck. 

Until then, I believe that the odds are greatly against what you did.  The odds seem much better to cash out smaller amounts slowly, rather than cashing out 2 years worth at this point with a market that will soon be going up (in less than 6 months).  In other words, if is very likely that we will be seeing $800 within the next 6 months... but my investment does NOT count on it.. b/c I am likely to be in for a couple more years b/c I sense that BTC is amongst one of the better places to put your money, at the moment. 

Where are you going to put your cashed out funds in the coming two years to preserve its value?  IN the stock market?  IN gold?  In silver?  in a bank account? under your mattress?  Do you even have a plan?  I hope so.