Quote: "I will work to do so feverishly"  |
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Yeah posted the rotters link here a few day back... quite a read... and bullish for crypto imo Sounds like a quote taken out of context. It is pretty normal for infrastructure to be funded by pension funds who then obtain a long run return in excess of government bonds. You buy a tunnel that has 100,000 cars go through it per day @ $2 each = $200k per day. As long as the pension fund does not pay too much (which is always the trick) then they are golden. The original - http://www.reuters.com/article/2014/02/12/us-eu-banks-savings-idUSBREA1B1ZI20140212 |
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That's a thoughtful analysis. The reason I doubt corpcoin will unseat Bitcoin is because so few companies are able to leverage their market position into other growth industries. Microsoft had max leverage and gave us Office and XBox, but almost all of their other dozens of attempts fell flat. Google gives us Google Plus and almost as many other failed examples. MySpace didn't get creamed by Yahoo, but by another nimble startup, FB. There's danger in straying too far from your core competencies. There are exceptions, of course. Who would have thought 20 years ago that Apple would be a phone company? Still, Apple and Facebook are the exceptions that prove the rule.
MS still rules the roost in operating systems and Bitcoin will likely do the same for Crypto. The differences are they are at vastly different stages in their life-cycle, but more importantly Bitcoin by virtue of being a distributed autonomous corporation is immune to rent-seeking behavior of it's management.
I am inclined to agree with you as far as corpcoin and made a similar point myself earlier about the "ones that got away" for Google. |
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Yeah posted the rotters link here a few day back... quite a read... and bullish for crypto imo |
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my guess: mtgox and karpeles are under criminal investigation by u.s. authorities and by japanese authorities (either the same cases or additional cases) they told him he is not allowed to give any statement about solvency (thatīs why he started is saying it is confidential; and i cannot imagine under which other circumstances it would be confidential for a company to say it is solvent). the foundation knows about the investigations and that is why the same step down took place as with shrems investigations. gox may not be insolvent, but the investigation may cause freezing of all funds on gox for months/years/ever. some early adopter (foundation?) knows all this and is very angry with gox and sells parts of his trapped goxbtc for any price, bringing the goxbtc rate down. some insiders knows all this and they will dump & dump (& dump) on stamp. disclaimer: this is not meant to be fud. i just want to figure out what is going on. just speculating...  We should instigate "plan x" and do a hostile takeover of the MtGoxtakover group and Mtgox and the foundation, and of starbucks - IPO being launched IPO Plan = http://youtu.be/mUP3A9imOYU sillyness : )   |
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To an extent I agree I do not think this is a Higlander scenario
There can be more than one
Money is the ultimate network effect. How is any other crytpcoin supposed to have less volatility than the one with the largest market cap? If volatility slows adoption, and I think we all agree that it does, then it's a huge hurdle to overcome. Money is the ultimate network effect. I hear you and I am a true beliver in the power of the network effect if a company/coin is lucky enough to ride that wave (after wave, after wave, eeek Tsunami) But A coin that was more evenly distributed with no huge holders, that traded on an exchange with high liquidity or a decentralised peer to peer exchange between wallet holders, with a baked in exchange into the client.... may have less volatility. Also I think that volatility is what caught a lot of peoples attention to Bitcoin... so it is a double edged sword. Also something great may come along, I am already diversified, I like Bitcoin but I also like some other cryptos that are popping up, dare I mention them here but like Nxt and Mastercoin, Protoshares that I think may have some potential , especially with the DAC's and colour coins etc... there is the potential to create some stable currencies using those protocols, as well as peer to peer exchange, and also like it or not as a concept, as a business the forging aspect of Nxt, if they can continue to grow and develop, is quite interesting, especially if you have a large number of Nxt, so there is reason to invest in the network and "forge" from there if the platform develops into something of use, which people can build onto , which is the idea, and if the community can reach out and encourage adoption because it provides solutions and profitable opportunites, then yes I can see another crypto doing quite well... does that mean it will dwarf Bitcoin, no... infact I am more inclined to think that the next "big and useful" coin we see will not get its next leg up, until Bitcoin has its next leg up... ie if Bitcoin jumps to $5000 and drags the marketcap up to 60 billionish then I can see coins like Litecoin, Nxt ** etc catching a ride on the coattails and increasing their marketcaps potentially by several billion+ ......which then would have a knock on effect, money is the ultimate network effect... and those development bounties that are out there would all suddenly have a lot more bang for their respective crypto buck, which means they can spend more on developing more , more marketing etc... Also as Bitcoin becomes more mainstream it is carving the path, and in doing so , doing a lot of the grunt work.. if people do get comfortable with Bitcoin, they are more likely to give another crypto a go that goes for traders/merchants and individuals even the media. I am playing devils advocate here ! and I do think that Bitcoin remains the mothership for now, and most likely for sometime, the network headstart is huge, and so is the headstart for adoption rates, ecosystem, investment rates, public awareness, vested interests, regulations, users, marketcap, etc but never say never is my moto. The other thing is that some Goliath of a corporation could try to give it a go.. one with a huge market share already in a symbotic industry that could evolve a concept and role it out to the masses with their already in place marketing machine and vast funds to throw at it and the masses would lap it up, and not care that it was not decentralised and not care that it was funded by "the usual suspects" that is also possible.. **Yes even dare I say it Ripple and fcking Dogecoin because wow |
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Look mum - Blindfolded!  |
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derp we already have multiple types of crypto. Doesn't change the fact bitcoin has the most money flowing in to development
You just can't comprehend, that the money isn't flowing into bitcoin, but into the development of handling cryptos in general? Are you advising people to diversify? if so good idea yeah going into Cryptos itself indeed.... and Bitcoin is the mother egg right now and will remain so until there is a good reason for it not to be taking into account everything. You cannto say defo Bitcoin will not kick ass and dominate the market for a good length of time it is perfectly possible. Again I think there will end up being more than one. All quite simples, the market will decide and that will be based on some rational factors and some not so rational ones, right now we as in you and I simply do not know! that much I comprehend - also the 3- 4 year head start really does matter, for several good reasons, it is not the be all and end all but it does have several implications on several levels. Also in all honesty none of us in Europe know which one of our banks will still be running in 5 years time- that is a cold hard fact, a few of them will not be I am quite sure - there are no "certain bets" |
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So do you think that the 3-4 year head start of the network and community means nothing ?
I agree that there maybe a better coin and it may do well and it may be competition to Bitcoin... but then the same is still true of Apple and Google
If wishes were horses
Beggars would ride:
If turnips were bayonets
I would wear one by my side
I agree that it means something, but if you want to develop into the range of 100bil.$+ market cap, then it's very little something. It would be great if bitcoin could get it's act together and would speed up code development and the development of the market system. Patience young grasshopper |
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no they're building bitcoin infrastructure not googlecoin infrastructure..( some of this is proprietary). It has nothing do with being to big to fail.. its just we're strengthening it by making use of it in business.
It doesn't matter that they are building bitcoin infrastucture, because if "googlecoin" would be created, and it would be of better code quality, then they can easily just take in "googlecoin" aswell. What I am telling you is that the support services are not dependent on bitcoin. So, it does not mean that the funds invested into the industry will guarantee the success of bitcoin. Bitcoin is like the worlds first computer game. The entire industry won't concentrate in developing this single game. The industry will build many games with increasing levels of complexity and depth. The industry is not dependent of this one first game. But Bitcoin is a protocol and therefore it is more sensible to compare it to the history of other protocols rather than computer games? To an extent I agree I do not think this is a Higlander scenario There can be more than one |
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no they're building bitcoin infrastructure not googlecoin infrastructure..( some of this is proprietary). It has nothing do with being to big to fail.. its just we're strengthening it by making use of it in business.
It doesn't matter that they are building bitcoin infrastucture, because if "googlecoin" would be created, and it would be of better code quality, then they can easily just take in "googlecoin" aswell. What I am telling you is that the support services are not dependent on bitcoin. So, it does not mean that the funds invested into the industry will guarantee the success of bitcoin. Bitcoin is like the worlds first computer game. The entire industry won't concentrate in developing this single game. The industry will build many games with increasing levels of complexity and depth. The industry is not dependent of this one first game. Google the following: Google lively Google print and radio ads Dodgeball Google video Google answers Google wave Actually Google do not have a magical Midas touch |
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You clearly have no clue what kind of money is being put in to developing bitcoins business infrastructure. Open source code like this doesn't foster persay private industry development because they can't patent and or sell the code as their own. However bitcoin is inadvertently being funded by all of us when we help build its infrastructure.
So, you see that good old "it's too big to fail" will hold up bitcoin. You clearly have no clue that by building support services, then you are not dependent on bitcoin and you can jump cryptos with relatively easy reconfiguration. It's smart, because this idea has potential and they don't have to worry if bitcoin fails. There will always be a better coin, that can be pumped and marketed. Creating a new coin has a lot of marketing value. If google would create a free open sourced coin, then it would profit enough from everyone calling it as "googlecoin". Open sourced project could be funded for advertisement perks. I think that Bitcoins pride and joy is Armory, that makes bitcoin different from other alts. Armory is the program that let's you store your coins with cold wallet security and relative comfort at the same time. For instance, if someone would adopt Armory to an altcoin, then that altcoin would probably go to da m00n. If someone can create a secure system with even better speed, usability and stability, for another coin. Then that coin would probably overtake bitcoin soon. Currently the market is raw and stupid, and the price is 95% made up from hype. But in the future the quality of code will decide the winner coin. This idea is important, so bitcoin will be facing some though competition. So do you think that the 3-4 year head start of the network and community means nothing ? I agree that there maybe a better coin and it may do well and it may be competition to Bitcoin... but then the same is still true of Apple and Google If wishes were horses Beggars would ride: If turnips were bayonets I would wear one by my side |
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Gox just admitted insolvency...
You are not a Fudster normally? |
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I am a true believer, which, considering I rejected both patriotism and Christianity as both insufficiently supported by the evidence, should give you pause. These were beliefs I was indoctrinated with since birth. Empirical skepticism is my modus operandi. So I wouldn't be betting my life savings on something just because I WANT it to work. It will work. If I made a wrong call and the market drops from here, you know who will bail me out? That guy with the sexy mother who hates my guts. He'll buy lower and someone else will buy lower than him. That's anti-fragile. The worse the price gets, the more attractive it is for someone looking to get in cheap.
Well, you can always hope. You also hoped that 530 was the bottom that marked the start of an uptrend. Let's see where these hopes will get you. I only find it amusing that you present your personal hopes as solid speculations. If it's your goal to amuse people with this entertainment, then no problem. Forum retard, billyjoeallen has been hoping on the wrong side of the trade to come good all the way down from the ATH, and ramming his 'hopes' down everyone elses throats in the process. Do what I do. Just remind the fanny that he has lost over 50% of his net worth due to his own stupidity.how has he done that ? Holding. With the D prev to the L bja will speak for himself, but I've been doing roughly the same things at the same times as far as I can tell, and I've been profiting modestly. Since his projections seem to be somewhat better than my own, I would expect him to be profiting more than I, if his execution is comparable to my own. Since my own execution is generally inferior to my projection, it seems likely that his execution is better than my own. In which case his value is likely to have increased substantially more than my own. But, I would say that encouraging BJA to engage in a pissing contest is not a constructive posture. I had to put him on ignore because I couldn't tolerate his manners, and if you start a pissing contest he's going to splatter all over, and ignore won't protect me. Oh I know... you are right of course.... I have no idea what came over me... I have heard this a lot over the years though " the market went down , you lost half your value" which is true but only if you are cashing out when the market is low right? which yeah I agree there maybe time when you need to liquidate, but most of the time in true trading fashion one buys low and sells high (or shorts etc) I guess a pissing contest is one thing... but when each side resorts to bending the "facts" to win an argument regardless then we are just in the playground. I enjoy both Matt and Billys posts most of the time... I enjoy yours more though : ) |
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I am a true believer, which, considering I rejected both patriotism and Christianity as both insufficiently supported by the evidence, should give you pause. These were beliefs I was indoctrinated with since birth. Empirical skepticism is my modus operandi. So I wouldn't be betting my life savings on something just because I WANT it to work. It will work. If I made a wrong call and the market drops from here, you know who will bail me out? That guy with the sexy mother who hates my guts. He'll buy lower and someone else will buy lower than him. That's anti-fragile. The worse the price gets, the more attractive it is for someone looking to get in cheap.
Well, you can always hope. You also hoped that 530 was the bottom that marked the start of an uptrend. Let's see where these hopes will get you. I only find it amusing that you present your personal hopes as solid speculations. If it's your goal to amuse people with this entertainment, then no problem. Forum retard, billyjoeallen has been hoping on the wrong side of the trade to come good all the way down from the ATH, and ramming his 'hopes' down everyone elses throats in the process. Do what I do. Just remind the fanny that he has lost over 50% of his net worth due to his own stupidity.how has he done that ? Holding. With the D prev to the L Ah... I see so using a crystal ball then. |
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I am a true believer, which, considering I rejected both patriotism and Christianity as both insufficiently supported by the evidence, should give you pause. These were beliefs I was indoctrinated with since birth. Empirical skepticism is my modus operandi. So I wouldn't be betting my life savings on something just because I WANT it to work. It will work. If I made a wrong call and the market drops from here, you know who will bail me out? That guy with the sexy mother who hates my guts. He'll buy lower and someone else will buy lower than him. That's anti-fragile. The worse the price gets, the more attractive it is for someone looking to get in cheap.
Well, you can always hope. You also hoped that 530 was the bottom that marked the start of an uptrend. Let's see where these hopes will get you. I only find it amusing that you present your personal hopes as solid speculations. If it's your goal to amuse people with this entertainment, then no problem. Forum retard, billyjoeallen has been hoping on the wrong side of the trade to come good all the way down from the ATH, and ramming his 'hopes' down everyone elses throats in the process. Do what I do. Just remind the fanny that he has lost over 50% of his net worth due to his own stupidity.how has he done that ? |
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If you had any clue about this market, you'd know that nothing short of zombie apocalypse could destroy Bitcoin. Do you know what "anti-fragile" means?
Well, you are "a true believer".. what can I say. There is no point in converting someones religion. What I see, is that the majority already has doubts that bitcoin is an pyramid/ponzi scheme. When it turns out that people lost their money on gox, then the media won't care if mtgox is to blame. The story that will get published is that people lost their money who invested in bitcoin, because this is the hot subject. Bitcoin will be known as a tool for crooks like Karpeles for scamming people. Bitcoin enthusiasts will be ridiculed as cultist or just as simple-minded victims. Companies together with serious investors will want to distance themselves as much as possible. I believe that bitcoin won't entirely die by this, because there will be loads of religious people left behind who won't give up their beliefs. But it will regress into the play money status that can be used to buy drugs. Basically the same it was 2-3 years ago. Actually a pretty impartial reporting on the BBC about the situaiton... it is quite clear that MtGox is the excange in trouble and not Bitcoin - according to the BBC anyhow... so yeah... guess not. Also pay attention , the illicit uses for Bitcoin are becoming less and less... ps If there are "religious" believers, does that make you a Satanist? |
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But... it's uncanny. Am I seeing things? Double double bottom fractals!  Brilliant |
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25K BTC volume on Bitcoinbuilder.
the owner of that website is making MILLIONS just by having a website and "guaranteeing" the trades. He processes them manually. He makes 2% on each trade, on both sides of the trade. Even for bitcoin standards, this is an astonishing easy way of becoming a fucking millionaire. I bet he is praying for Gox stalling the situation indefinitely To be honest I thought about this the other day and thought... BigBitBuilder - or some such name - same identical business model, 1.5% fees each side of trade.. Even thought about IPO'ing the idea on here and getting the thing up and running in days... Alas I am to busy to take on a project atm. Anyone else? |
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