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Damn that Icy- guy is a retard.
Anyway the OP hurts alot of people's feelings on this forum stating that 90 cents is the best price for Bitcoin to be of use. That's the reason for all the negative comments.
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You can't sleep or live with yourself unless you know what other people on this forum guess what the price will be?
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Aren't bitcoin idealists usually anarchists?
Hold on a second. Are you trying to say that anarchists are ok with theft, that they condone the violation of other people's property rights? I'm curious to know what to you constitutes an "anarchist" Are you thinking of anarchists in the navie "break store windows, and cause general havoc" sense? The very foundation of Bitcoin is anarchistic. The system does not allow recovery of bitcoins, there is no regulator or protector here. Just like in an anarchy, if your money would get stolen, no one is going to help you, you can only rely on yourself and family to hunt the thieves. I can't help it, this is the Bitcoin system. |
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I think having this post constantly on the front page is the worst thing that can happen for bitcoin. This forum is VERY popular and if this is the first thing new people see. Well ............. Since its already at the top I'm bumping it, but maybe we should stop talking about it.
My *selfish asshole alarm* just went off reading this post. |
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Not many have actually gone through the source code to see if the bitcoin encoding has any flaws, so there's no way to tell.
Most developers here work on functionality only, not the core protocol.
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Aren't bitcoin idealists usually anarchists?
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I feel like posting this again.  Hold that bag as tight as you can.  |
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Im surprised you take this lightly, losing 500k$+ and with no chance of getting it back.
I could only explain it with the assumption you have more bitcoins sitting somewhere or have other wealth. If not, you'll probably end up in a nuthouse now.
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Oh and if the limits gets raised just like that there will be a rush on the new client especially by miners
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Ya know releasing updates for clients isnt hard at all, and since Bitcoin is centralized to bitcoin.org, its even easier.
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So the 21 million limit is a joke? Wow that's huge. Getting to smell really like a pump a dump scam extremely hyped and overpriced.
People like to think 'oh people early took a risk', well you know, in pyramid scams the early guys also take a risk, it's the same thing.
This argument is backed up by proof of big dumpers currently on the MtGox markets, those big dumpers are the top of the pyramid. Selling to the late suckers that are buying. This is 100% compliant to the definition of a pump and dump scam.
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Or, you know, could just be a market correction due a rapid and unsustainable growth, exacerbated by those who wish to exploit it for personal gain?
So what you're saying is that it was, infact, a bubble? The word bubble is politically incorrect on the Bitcoin.org forums. So yes, it was a bubble. It's only politically incorrect here because there are a lot of room-temperature-IQ speculators who don't seem to comprehend that "a bubble" is not the same as "THE bubble" - bubbles happen in other markets all the time, but because those of us who aren't day traders don't hear about bubbles unless they destroy a market we assume the worst when we hear the term. It seems that what occurred recently was, in fact, a bubble but that doesn't necessarily mean it's THE bubble that everyone fears will kill the market. People need to understand that bitcoin isn't really any different than any other commodity. Commodities have only the value we ascribe to them. We are trading so many post-scarcity products (music, movies, pornography) at such ludicrous markups daily that it occurs to me that it should be OBVIOUS that so much in this world has only the value we ascribe to things with no inherent value. Bitcoin bubble theorists need to both learn some basic economics and perhaps the actual definition of the economic phrase "bubble": "trade in high volumes at prices that are considerably at variance with intrinsic values" In other words, a bubble occurs any time people are regularly paying considerably more for something than it is worth intrinsically, such as gold which has some industrial value but not so much as to merit its current lofty prices. Trade of gold as a "store of value" has increased its value purely via speculation and so it too is a "bubble" at present. Realistically it's just another rock we pull out of the ground that has some special properties (chemically inert, electrically conductive, etc.) which make it better for some tasks than other rocks. You seem to miss out important points such as jewelry and collectors demand, apart from industrial demand. Not to mention gold has served as a mean of value for humans for centuries, as it is shiny and beautiful and does not oxidate. Lord Banking Families such as the Rothschilds keep only gold in their vaults for a reason you know:  Wouldn't you want to give that a big hug? |
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Can you imagine those guys who bought thousands at 30$?
They must feel fucking terrible right now. (if they didn't sell yet)
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Speculators didn't bail. Speculators are the ones that are sitting now with their 100$ asks. It was only a very few bigholders who sold about 10k~20k of bitcoins, causing a price drop of 40% with a 10% bounce back. This market is super weak if you think about it. These bigholders are the early guys who got tons of bitcoins and not wanting to lose this chance of becoming rich. Imagine being the last to sell bitcoins and you bought at 0,50$, having had this huge chance to make triple digits returns. Backed up with proof: http://blockexplorer.com/address/1ER9ptGkdWSNeWY3pvbvNhNZS8ie5qEj2K |
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Most of you understand these things, but for those of you who haven't lived through the ups and downs of the stock market, housing market, etc: BTC don't "do" anything, only people do. If the price is dropping, that means (and can only mean) that there's someone trying to unload BTC below market price - which redefines the market price. For example, the 'mystery miner' is sitting on 49511.441 BTC; suppose he wants to cash some of that out, and puts a sell order on the dark market for 10000 BTC at $14 (even though the pride is $28). He doesn't care that it's below market; best case he makes $280k, worst case $140k. Do you really want to sell -right- when someone (with a hell of a lot more BTC than you) is seling too? Don't forget that for every person selling BTC at a given price, there is someone out there who is happy to buy BTC at that price. You may want to consider being one of the latter rather than the former. Finally, an awesome quote I saw elsewhere on the forum: "Buy when there's blood in the streets, even if the blood is your own." -Baron Rothschild (more advice here http://www.investopedia.com/articles/financial-theory/08/contrarian-investing.asp#axzz1OyivE5k2) Stocks give divident and are backed by a company, it's a totally different thing. The Bigholders of Bitcoins who just unloaded a few thousand bitcoins have interest in a bounce back to 20$, naturally, they do not dump all at once as they would get less for their bitcoins than if they let it bounce back 20$, consolidate, and sell again for higher price. |
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No people with 250.000 bitcoins in their wallet have effect on the markets. And they well know they aren't going to lose this chance of becoming rich, they wouldn't want to be the last ones with Bitcoins losing this chance of their lifetime.
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Lol @ people who think threads like these really have effect on the markets
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