China was in on it on the way to 266. It's the gambling culture over there that's interested, buy low sell high... they are in it for the extra yuan.
Even if all they do is gamble, they need to buy in first to start gambling. They already have. All of them? I guess you ask them. |
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Yup, this 85 year old man has heard about bitcoins. That suggests that we are reaching mainstream time. 1000 by December? This by the way would mean that bitcoins has a market cap of only 11 billion. Isn't that no more than the yearly profits of one major bank? No it suggests that we have reached market saturation. We're out of suckers. |
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Yes, but those sites need to buy Bitcoins,too.
As ElectricMucus said, they already have. so everyone in China already knew about bitcoin before this CCTV event?  LOL. Everyone that matters at this point. proof? Not exactly. You can't prove this either way, but you can use common sense. They are reporting on Chinese already involved in BTC and their stories, plus a little bit of what goes on overseas. I suggest you also look at the client downloads and node statistics from way back. What also helps is look through the descriptions of the process a potential Bitcoin user goes through, you can also remember your own... As I said downloading the client is a far way from buying coins. whats more relevant are the client DL stats from today that have it up from 10k to 30k and the top country being China with 42% of all downloads. http://sourceforge.net/projects/bitcoin/files/stats/timelineNice tunnel vision you have there. http://sourceforge.net/projects/bitcoin/files/stats/timeline?dates=2008-11-09+to+2013-05-04 |
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Bitcoinia
I see what you did there. |
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Yes, but those sites need to buy Bitcoins,too.
As ElectricMucus said, they already have. so everyone in China already knew about bitcoin before this CCTV event? LOL. Everyone that matters at this point. proof? Not exactly. You can't prove this either way, but you can use common sense. They are reporting on Chinese already involved in BTC and their stories, plus a little bit of what goes on overseas. I suggest you also look at the client downloads and node statistics from way back. What also helps is look through the descriptions of the process a potential Bitcoin user goes through, you can also remember your own... As I said downloading the client is a far way from buying coins. |
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I can't imagine anything better than the debit card system. If I can't imagine it, then not one else can either, so it most certainly cannot ever happen. Who cares? Buffet doesn't invest in things he cannot understand. Funny considering the popularity of the Fear&Greed quote here. Do I sense a slight bit of hypocrisy here? |
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Yes, but those sites need to buy Bitcoins,too.
As ElectricMucus said, they already have. so everyone in China already knew about bitcoin before this CCTV event? LOL. Everyone that matters at this point. |
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China was in on it on the way to 266. It's the gambling culture over there that's interested, buy low sell high... they are in it for the extra yuan.
Even if all they do is gamble, they need to buy in first to start gambling. They already have. Why do they need to download the clients then? Seeing what this curiosity is all about. What this does is helping to establish a bottom, not make the prices rise. People who are downloading the client are far from buying coins. |
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China was in on it on the way to 266. It's the gambling culture over there that's interested, buy low sell high... they are in it for the extra yuan.
Even if all they do is gamble, they need to buy in first to start gambling. They already have. |
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How does that work? I win if I take the longest, right?
I think so. |
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This China hype machine is roaring now.
Bulls grasping yet another straw. |
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China was in on it on the way to 266. It's the gambling culture over there that's interested, buy low sell high... they are in it for the extra yuan.
Did you actually read the translation of the CCTV piece? It's not exactly what I would call "bullish".
In fact they even conclude that it's a bubble at the end.
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I don't really know what to expect.
There are 2 bearish and 1 bullish scenario I can tell you about.
The bearish ones either result in a ~90% price depredation from the top like it was in 2011 or a 99%+ one over about 2-3 years. The latter one is the only really bearish one which would imply however that bitcoin is going to be replaced by something else.
The bullish scenario shall work out like last year after the pirate crunch, a few months of stability in the current region before a gradual take off. That would imply however that the "captains of the industry" get their shit together.
If the status quo doesn't change I think we are in for scenario modeled after 2011.
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I'd say about half of the short term rallies can be attributed to this forum.
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The battle of the walls, see who'll keep more nerves in our next episode or download special report for 14BTC only from our website  Yeah what is that extra coin for?  13BTC |
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God damn you people are stupid.
BTC is already quite popular in China, but not the way you might think. The Chinese are into trading it and it comes form the large gambling culture there. Buy it low sell it high that's what it is about.
They are no "investors", they are in for the extra yuan, if anything they gonna siphon money off you guys.
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Quote: "Today $1.00 is worth about 100 bitcoins" see how quickly they have impacted the market! They even got me beat by expectations. |
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This is just in: Taxes and other expenses rise proportionally! You are nitpicking something I wasn't even concerned about, well done. Oh here you have it: You're right. |
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A fun social experiment might be to do something like the following:
1) Announce the creation of PnDcoin, which is 4x FeatherCoin or something...
2) Announce that the P stands for "Pump" and that the D stands for "Dump".
3) Announce a viable staged marketing plan for the coin, stating very clearly what channels you're going to hit when, etc...
4) Outline a plan of when to sell out to maximize profits.
I'll bet people would still jump in, on the greater-fool reasoning... After all, many of Pirate's "investors" knew that it was a ponzi, but figured they'd just get out before the next guy.
Making the pump-n-dump process and plan as explicit as possible up-front and seeing what kind of activity results would be amusing to watch.
This kind of rhetoric is becoming really tiresome. It applies the same exact way to BTC as it does to its forks. That it was first doesn't mean squat. The principle remains the same. Thought experiment: If two coins have exactly the same properties, but one has existed longer and has significantly more adoption, in terms of users, merchants, financial services, etc, which has more utility? This an obvious network effect. I assume you're now going to tell me that the network effect is irrelevant; that's fine, please educate me. For the record, I think other coins that bring new features to the table (eg, PPCoin, Namecoin) are genuinely interesting and have a place, and perhaps an innovative alt may ultimately dominate. I just see nothing interesting or compelling about coins that are direct forks with some constants changed, either intellectually or from a market perspective. Yes I think that innovation is an important factor for alt-coins, but that doesn't mean they do not have a place. And most importantly they are no more a pump&dump scheme than BTC already is. There are some coins with malicious features like pre-mine, taxes or else (Solidcoin, Freicoin, ...) which should be avoided, but other than that they have their place, if only for a short time. I get the point of things like feathercoin, china coin, ru coin,.. aren't particularly useful if they do not include any new unique featureset. They are often short lived see IXcoin and I0Coin but that doesn't mean they have to. |
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