Haven't logged into my MtGox account in over a year. I've bought and sold many bitcoins in that time and find the alternatives to be quite good. I don't see how not trusting MtGox is a huge problem. I hope they lose more trust and marketshare.
just curious, did you use the mtGox price as a baseline? thanks. Nope, I base my prices on what I can replace them for on the markets I do use. |
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sublime17, are you here to spread FUD or do you genuinely believe that the dollar will deflate? The Fed will not let that happen in any circumstance, they'd hyperinflate if they had to.
The Federal reserve can easily inject trillions into the economy at the first sign of widespread deflation. Banks were forced to take the bailout durning the GFC, btw.
The labor force will only tolerate this strategy for so long. In the framework of Adam Smith there are three types of stakeholders in any venture: labor, capital, and land. Labor earns wages, capital earns interest, and land earns rent. All these roles may be filled by one person, or by several separate entities. Many Americans fall into the category of labor only. In the face of technological progress, the demand for labor falls as machines displace workers. Capitalists see a short term bump in the interest they can earn (the rich get richer). Landholders are who sees long term gains due to the finite amount of land (similar, but smaller gains happen with other durable assets but land is crucial for survival and you have to pay to use what you don't own). High unemployment drives down wages and meanwhile businesses are figuring out how to do more with less. $22k robots that can be shown what to do by unskilled workers will soon make us competitive with China in manufacturing, but unemployment will only go up until labor can be trained for the new jobs that didn't exist previously. Many will be too old to recoup an investment in training and some will be unwilling or unable. Things will get nasty as these laborers choose between low wage positions doing delicate things like clearing tables that will only exist temporarily and seeking alternative means of survival like crime. Consumer demand will decline and prices will fall. If this segment realizes the politicians are keeping prices artificially high heads will roll. Hopefully only metaphorically. See Chapter 11 of book one of Wealth of Nations for more. There is a tl;dr conclusion section at the end. |
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It needs stable, real, market, pricing and it needs to be treated as currency not a commodity. I will say it one more time BTC is in a bubble the price is way out of line.
Yeah, preferably centrally governed, right? Welcome to the actual free market, stop jumping to silly conclusions, just observe if you are not participating. I participate. I Sell btc and yes I am for the free market. Btc is not a free market it is a manipulated market. BTC temporarily enjoys a monopoly, that will change. The same people who cry about the gold and silver manipulation are manipulating the btc market. Soon... It will crash soon. And we will see who is not participating. I am in digital currency for completely different reasons that the community on a whole. I am in it because I believe in it can be a force for good for all the world. I am so crazy I think it can topple government, financial industries and stop war (very crazy I know). Most of this community doesnt know their ass form a hole in the ground and are in it because they are greedy, selfish, speculators. I am in it to change the world whether or not make a ton of money. BTC is a free market you cant even get f!@#ing BTC. And there it is. Now that I know where you stand I can relate to most of your frustration with the bitcoin community. I'm just not sure why the infrastructure is giving you such trouble. I have been here for quite some time so it seems easier than fiat banking to me. I would be interested in hearing some constructive ideas on how those of us that can build these things can make it easier for nontechnical users. |
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Haha KEEP SELLING.
Agree. I'd like to see a daily red candle for a change. I'd like to see a few... My next paycheck will be here the 15th. |
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Hate to break it to you, but before or after asics, there will still be only 25 BTC per block that are mined. To a large extend, I suspect they will even be mined by the very same people.
25 per block, but until difficulty adjusts a significant rise in the network hashrate would yield more blocks a day than usual. Currently, looking at blockexplorer.com, the last 20 blocks seem to average around 6 minutes each. You'd have to look at a bigger sample to see if it's just a fluke, but keeping an eye on the rate of block discovery might be informative. When's the next retarget anyway? Looks like we're about halfway there: http://bitcoin.sipa.be/ |
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Helicopter Ben and his pals probably won't allow deflation. They seem to have a pathological fear of the 1930s.
With most of their balance sheet being bonds and the interest rates continuing to creep up, I'm not sure they can stop it. Possibly not, but then again, they can print as many $$$ as they want. Ask Gideon Gono, he knows a thing or two about that.  Who will help them support the bond market if they devalue the dollar? Certainly not me. |
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#5 is ridiculous. You don't exactly kill bitcoin by buying up a large amount of bitcoin.. that just increases the value of everyone else's.
Sure you can kill (well not kill, it will live on at a much lower price) btc buy buying up a bunch. You buy a ton the price goes up you hold then off the market prices goes high and higher. Then you have a massive sell of. People buy into the hysteria, other sellers are no longer willing to sell they think they are going to get rich and say things like "we are all going to be weathy men" and the "price can only go up" and "there is always a bigger fool". So delusional IMO. Let SR shut down and see what it does to price. I was selling 50-100 a day to my customers and when the price started shooting up I sold below spot. The reward should come from sharing BTC with the world not stashing it away like a troll. I stopped buying at 19, because I cant risk the volatility. I cant buy coins one day to have them devalue the next. If I were a seller on SR I would be looking for other options. It is great on the way up but, say you sold a lot and had all of your funds in BTC and while waiting for escrow to release of funds to transfer the bottom falls out, not a good position to be in. The speculation also punishes customers. The prices are not automated on SR So if sellers aren't changing the price every couple hours it inflates the price of their goods. Treat it like money! Give it to the world. Stop being a bunch of greedy trolls. I promise the person/people that give it to the world are the ones who will windup rich. The person who gives the most number of people what they want will be the wealthy ones. "It is not a good deal unless it is a good deal for everyone involved" I've not used it, so I could be mistaken, but I was pretty sure I read that SR provides free escrow to sellers including an option to hold the funds in USD during the escrow period. There are other options for hedging exchange rate as well. |
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Helicopter Ben and his pals probably won't allow deflation. They seem to have a pathological fear of the 1930s.
With most of their balance sheet being bonds and the interest rates continuing to creep up, I'm not sure they can stop it. |
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Is time running backwards now? |
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Cool if you trade there maybe you can ask why rbecker gets to steal my name and leave neg feedback without trading with me?
Probably because you're good at rubbing people the wrong way and he decided to let you know that you can't run around being needlessly hostile without consequences. He can't auth as you and he can only steal your name if you don't register it. A poor workman blames his tools, but sometimes he just needs to learn how to use them properly. It is kinda funny that you mention having the wrong tools. I was a auto tech/ engine specialist for 10 years, so I know all about tools and how worthless poor quality tools are. You are saying I am the lazy one, but what kind of forum allows you to steal someone elses name? What kind of community lets people do that? Bictoin otc is a joke and a cruel on if you are new to BTC. I shouldnt have to be a programmer or web developer to get btc. And how many of you really think that serious business people are going to hold up licences and signs with a shoe on their head? I do have a way of rubbing people the wrong way. I have been told that I am brutally honest or honest to a fault, but you always know what you are going to get with me. I dont mind telling people what they dont want to hear. So i have not made to many friends there, a few though. Because I think that bitcoin-otc is the worst market place I have ever attempted to shop in. It is awful and a joke to me. IRC has always been that way. It is not a forum, it is a chat protocol that has been used since the late 80s. If you register your name nobody can take it without your password, but you obviously have not done that. It was not intended to be the main market for bitcoin, it just happens to be convenient for those of us who use IRC every day for other reasons. I respect that you can acknowledge your occasional brashness. Actually, I'm coming to respect you more the more I read from you. You're just a bit rough around the edges like most of us. At least you don't spam my inbox like iamag  . |
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matt, I like how you stay bearish for what, 3rd year now, even though history is trying hard to teach you a lesson, but you just would not listen would you? what history? you mean where bitcoin was created and worth nothing... then it ran up to 32... then it fell down to 2... and now it appears to be running up again... and if history repeats... He's a miner. He can make a pretty nice profit with much lower risk by being bearish. Not my style, but I imagine my life is very different from his. |
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25.22 USD Bid for 223 BTC on BitFloor.com
I wonder if anyone will ever actually sell  The ask side has been pretty thin for a while on bitfloor. I usually spend before I sell, but I don't know why more sellers don't use it. |
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Cool if you trade there maybe you can ask why rbecker gets to steal my name and leave neg feedback without trading with me?
Probably because you're good at rubbing people the wrong way and he decided to let you know that you can't run around being needlessly hostile without consequences. He can't auth as you and he can only steal your name if you don't register it. A poor workman blames his tools, but sometimes he just needs to learn how to use them properly. |
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Never ever miss the bitcoin train. Buy & hold Bitcoin is the best strategy.
Yep. Dollar cost average with each paycheck. Spend a few when you are sitting on enough profit that you start to feel uncomfortable. |
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the only logical answer that was said here was supply and demand,
I dont understand how greed would come into play here, and like most who have followed bitcoin the situation we are in now is 100000000000x different than the crash we experienced 1 year ago, the run up and down happened in such a short period of time and back then all it took was one big sell/buy to cause the market to panic in either direction because of how few were involved in bitcoin
What does greed have to do with this at all? or the reference with musical chairs?
bitcoin aside of getting press from some decent sources mainly because of how well it is performing to other financial assets, securities, you name it bitcoin is beating it. but where does greed fall into the mix? its not like MTGox,someone who has a insane amount of coins or DPR of SR are going around on every forum advocating to the world how amazing bitcoin is, the world is just slowly realizing it one by one as people see the true benefit to bitcoin
Lol @ your comments man seriously, Gold and Silver being over priced? it just makes sense when something that is limited in supply starts being bought up, not to mention that a majority of the stuff is stashed away in banks or reserves so what there is available to be bought is limited, as well as the limited amount of new gold/silver being introduced, With a setup like this how can the price not go up?
Bitcoin is essentially the same as gold, it is mined, big stashes of it are stored away by big players, and now people are beginning to notice it, its only a matter of time til bitcoin destroys its last high of 32 and it will hopefully get there in a slow and steady fashion like it has been doing the past year,
You say that anyones guess is good but that isnt true when someone also says one of the options is wizards,
Bitcoin is going up. Why ? Because fundamentally it has to just like gold and silver did,
The musical chairs reference is a perfect example of demand exceeding supply. Also when you start making statements like "how can the price not go up" you have found the sucker. He's the one looking back at you from the mirror. |
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I usually buy $200 worth with each paycheck regardless of the price. So at $200/btc I will stop buying 1 bitcoin and start buying fractions of a bitcoin
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Sorry, i didn't realize it was unclear. I'm simply trying to build a rep on my nick for the WOT, or here on the forums so that i may buy/sell/trade in the future without the hassles i'm experiencing now. Every one had to get their start some way, i'm asking for some tips to work towards getting a positive reputation.
Seeking to build rep is a mark of a scammer. Normal people want to buy and sell goods and services. Just do that, in small amounts at first, and every successful trade will earn you a bit of trust from whoever you trade with. Earning a reputation takes a huge amount of time, and it can be lost in an instant. Focus on the trades you want to make or the services you'd like to use/provide. If you're an honest person trust will take care of itself. Thanks for this. I just performed my first BTC buy via p2p on bitcoin-otc, so im working towards the very thing you mention! I have bought and traded on btc-e.com in the past. Also, i wasn't talking just selling the things i have (my Etsy sales are doing really well), i was just talking about doing any transaction. I'm looking to buy some LTC and BTC and it's like pulling teeth! Looks like slow and steady wins this race, so thank you all for the helpful tips! Have you tried https://localbitcoins.com? I sell locally for cash through them fairly often. |
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Religion dissapears after war?
During war and system changes people start believing and do not quit...
Why should religions dissapear after war?
Ps: i believe in logic and not god
You've simply made logic your god, and your hardware has an error rate higher than a computer. You should obviously let a computer make decisions for you. |
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