It's getting harder and harder, because it seems like your douchebaggery is growing exponentially. :/
Sky’s the limit!  |
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Zero. Zilch. Nada. None. Sell into all rallies.
Surely you must be very short then at this moment? |
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thats quite amazing. never go over there. no, no interest in Bitcoin. not a bit... Please, make no mistake. I would be interested in running any software if it is profitable to do so. Wanting to make money has nothing to do with interest in Bitcoin. |
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This is really interesting... Do you think the large sell offs on the way down were the "markets" correcting for the faulty design?
Yes. I believe the design led to disproportion in people with (much) more Bitcoins than they really want vs. people with less Bitcoins than they really want. I’m afraid it’s not working very well though (perhaps the market cap is too low and it’s too easy to corner now?), because the selling volume is actually increasing, leading to this huge 380k volume spike to 1.99. I guess this will go on as long as people haven’t made up their mind whether they want BTC or USD.  |
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Capitalism is fair.
No...its not. Individuals are only free on the condition that the great mass of people taken collectively- are not. We could not have capitalism without a working class and they are not free within the capitalist system to cease being wage laborers. A people's capitalism is nonsense. Wage laborers are only victims because your "collective" that I call the state artificially raises the cost-of-living. People can live on $60 a month in other countries for a reason and it's because the state doesn't make everything overpriced. GTFO TO YOUR PLAYGROUND @ Politics & Society. I DON’T CARE ABOUT YOUR LOLBERTARIAN RAMBLINGS AND PHILOSOPHY ABOUT EVERYTHING. I WOULD LIKE TO DISCUSS THE FAIRNESS OF BITCOIN. THANK YOU |
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Without remorse say "Fuck them." You got yours and be damn proud of it.
Yeah. FUCK YOU GOT MINE! YOU FILTHY HIPPIES! |
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I pledge another 1 BTC for the 100,000 viewer.
And if this can't be tracked in time, we will postpone to the 111,111 viewer or 150,000 ...
WOOO, the bounty is up to... 2 whole BTC!!!  hey, if you believe that 1 btc will be worth >$1000 at some pt soon in the future you'd be all over this. edit: since you don't see any value in this, then if you win, we'll give the 2 btc to someone else. how's that? Hey, if you believed that, you would sell everything for Bitcoins and take a loan (shorting fiat). Oh wait, this has already happened in summer. |
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I bring it up because I don’t like the way people think it’s perfect [...]
Bitcoin is a currency. It is not a wealth redistribution system. Therefore, it does not have to be perfect, nor even good, at allocating wealth. It’s not about redistribution, it’s about creating a basis that is not absolutely fucked up. Our basis is fucked up because the difficulty was 1 for a whole year, and the price was also very low, but then the user base exploded and the money supply couldn’t react, so humans had to – and we’ve seen how good humans are at that. In any case, I don't think it matters that much. As bitcoins become more ubiquitous, fewer people will know or care about who jumped in early, and how well they've done.
I don’t think you understand, my point is that the market is struggling with this initial allocation and trying to spread it out, but in doing so lowering its usefulness. (you can’t tell me that the huge volatility we have seen and are seeing is NOT largely due to this, and NOT reducing Bitcoin’s value overall) My theory with the sigmoid curve is that naturally, as the reward/block grows over time, the incentive to adopt Bitcoin actually grows, and the growth of the community will adapt to it. It simply spreads out more Bitcoins to later people (this is exactly what the market has done the past 6 months!) while still maintaining its basic properties, as "peak bitcoin" would eventually be hit. BTW, it’s unfortunate I can read Atlas’ bullshit while answering, even though I have him on ignore.  I wish he would stop making a new account every day. |
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I know an alternative that wouldn’t have done so. It’s called a sigmoid curve ...
fair enough. indeed, Bitcoin could have been allocated differently. but you do understand that the past is history, and that we are not going to change it, don't you? No, and I’ve said so before, that would undermine the whole system, obviously. I don’t think we will ever have a chance besides with this block chain. It’s funny because it’s almost extortion when you think about it. I think noone has discussed a sigmoid curve in 2009 or 2010. The people back then either knew their role in the system and didn’t want to decrease their individual piece of the cake (yay rational actors), or they just didn’t foresee possible "problems" the initial allocation might bring. I bring it up because I don’t like the way people think it’s perfect, and I think it might be good to reflect and learn what could have made Bitcoin more robust, so that the market doesn’t have to go from 32 to 1.99 to (as I think, eventually) surpassing the former high. As I’ve said the additional volatility it brought is actually decreasing usability and trust. I guess the only advantage this brings is that it attracts a whole lot of speculators who are now correcting what has gone "wrong" with the monetary policy. Maybe this leads to growth that exceeds the damage, but I doubt it. |
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- An alternative that tries to "solve" this "issue" of speculation profits defeats the purpose of the scarcity concept, rendering the new currency unstable and therefore unreliable.
I know an alternative that wouldn’t have done so. It’s called a sigmoid curve and it happens with all extractions of resources, except for Bitcoin which was designed completely inelastic in a 4 year period, so that the gold miner Satoshi, who didn’t even own a pickaxe (CPU mining) in the beginning, could just carry home 1% or 10% of the total money supply. I do think it would have been justified to use the assumption that surely, at the beginning there will be LESS adopters than later on, and I do think it would have spared us a lot of headaches because we would have seen LESS of a misallocation which the market had to weed out (and maybe still is), and by doing so, actually decreasing trust and usefulness (volatility etc.) of Bitcoin over a longer time period. Can anyone explain why the Bitcoin mines should produce the same amount of Bitcoins on day #1 where 3 guys on a cryptography mailing list know about it, as on day #1000 where tens of thousands do? |
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I have tried to warn you. The more joy you get, the more pain will come. The irrational bulls have declared victory, so surely we have topped out now at 3.38. The crash to below $1 will come anytime now. Just wait.  |
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It’s good to see true long-term bulls with conviction. I think that’s, on a much larger scale and time frame, all it takes to make Bitcoin a true store of value.
You can’t believe how I nearly shit my pants when it crashed from 1$, yet I just bought more at the time.
Quite the bear trap …
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more relevantly, i traded in most of my gold and silver for Bitcoin and continue to be happy i've done that.
Really? If you timed the transition badly, you could have missed out on a lot of Bitcoins … but I guess it might be worth the assurance that you didn’t miss a possible train. I don’t have very much yet (and not that much anymore thanks to the long, slow slide, which hit me bad as I expected a major crash and often interpreted everything else as bullish), but my main form of saving will continue to be Bitcoin until I see something better. (Un?)fortunately, I still don’t. Probably won’t be upping my percentage anytime soon though, unless I can, once more, get my hands on some sub dollar BTC. |
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All we can do is keep building services and shops. People will come around when they consistenly hear about positive improvement in our economy without bad news to temper it. We fucked ourselves letting it spike like we did and the only choice now is patience.
Do you even know what an economy is? Also, the most high volume business Bitcoin has is most likely Silk Road. Why? Because they it offers them an advantage. "Building services and shops" is completely useless as long as Bitcoin only serves as a middleman as in in USD => BTC => USD. This creates useless overhead and makes no sense. If the businesses decided to use a certain percentage of BTC funds to pay expenses, however, it would be a different story. |
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Weekend is coming.  |
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Anytime now. Enjoy your last minutes of hope.  |
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Surely Bitcoin will crash to and below $1 soon. This "rally" is nothing but a temporary distraction. Just wait.  |
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Hitler was voted in with a 97% vote. The Jews proudly wore their stars
Are you serious? On both claims. |
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I'm sorry you got involved during a price bubble, but if you're going to "invest" in something you better be ready for years of volatility.
A bubble?! I thought the libertarian teachings convey that bubbles are impossible in a free market with "sound money", and that only the government can create bubbles through credit. Weird! |
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