I was just trying to inject some humor into the conversation. No one is on my ignore list. Although, I do not consider all opinions to be valid, I do consider them to be interesting. It is important to be aware of other people's misconceptions. Besides, you never know when they may have a valid point.

I see some people have an ignore with a yellow rectangle around it....but why is your ignore red and blinking? 

+1

When I was a kid, my family lived in the mountains with some other families.

They wanted a road.

They pooled some money.

They rented a bulldozer.

They made a road.

50 years later and it is still there.

Just two questions:

1) What is the cap on the quantity of Aussie dollars?

2) Who has the power and desire to prevent any more from being created?

 

Happening right now, crashing right through $900....$1000 before the week is over.

A long time ago, there was this saying called "property poor". It referred to someone that had like a million dollars worth of property, but barely had enough cash flow to make their mortgage payments. They might even have a slight negative cash flow, but held on waiting for inflation and rising rents to turn things around. Eventually, many years later they were very well off.

Anyway, I know at least one person that has a double digit number of bitcoins, yet is homeless. Another is surviving off of food stamps and sub-minimum wage jobs. All are hanging on to their bitcoins for dear life. It is their ticket to economic salvation.

I would loosely term anyone as being "Bitcoin Poor" if they have over a dozen bitcoins, but the rest of their assets are less than $1000 and they are barely surviving.

Anyway, just wondering how common this phenomenon is in the Bitcoin community. A couple of us locals were talking about this subject recently.

Every once in a while, I will buy another small fraction (.05) on coinbase. But I am done investing any major money now. I am bullish, but feel the speculators are really ahead of the infrastructure right now.

I was watching bitcoinwisdom.com off and on the last couple days. I watch mtgox and bitstamp. Occasionally, I would see a decent size sell pull the price down in just seconds, only to see it rise back to around $800 within 15-20 minutes. $800 feels like a good consolidation price to me, till we get ready for a next updraft within the next few months or sometime next year.

 “People don't hate you for your weaknesses, they hate you for your strengths.” - Ayn Rand

When I read this, suddenly a whole bunch of things in my life made sense.

A lot of people are really going to hate Bitcoin.

The top experts recovered 99% of the data off the Challenger HD after the explosion, fall the sky, and sinking to the bottom of the ocean. I can't imagine your hard drive being in worse shape than that.

Even if it isn't economical to recover it now. Just save your HD. Years from now, the best experts will be willing to recover it for a small portion.

http://www.computerworld.com/s/article/9083718/Shuttle_i_Columbia_s_i_hard_drive_data_recovered_from_crash_site_

Oh shit...I slept through the great crash. It has already recovered.

If Bitcoin crashes 800 to 400 and then recovers back to 800 while I am sleeping, did it really happen?

When I can start spending bitcoins locally, I will convert all of my fiat paycheck into bitcoin and spend bitcoin at those local places. For now though, I only convert about 25% of my paycheck into bitcoin each month and just save it.

If you feel that Bitcoin is a pyramid scheme, but that cryptocoins are good in theory, then find an altcoin that you believe in. They are all going to go up for the next few years.

The money that us early adopters are putting into Bitcoin is helping to build the infrastructure. Those who choose to ignore Bitcoin or wait till full adoption, don't deserve the gains that we do. We are doing the work and taking the risks of failure.

I feel that I am finally being rewarded now for my years of studying philosophy, economics, computer science, and mathematics. This knowledge is freely available to everyone in all the major 1st world countries at free libraries. Anyone who acquired an education and took the time to examine Bitcoin would have realized how world changing this techonology was going to be. For that matter they still can do so.

My only regret is that the 3rd world may only get a tiny sliver of the Bitcoin pie. The more I think about it though, the more that I suspect that 3rd world countries may benefit greatly too. Repaying loans will become easier due to high inflation as fiat money dies.

3rd world countries will also benefit greatly from the ease of foreigners spending money locally. Relatives working abroad will be able to send money to relatives much easier.

For the last 100 years, the world has been using currency that loses value over time. We are so use to it that we cannot even imagine a world that uses real money anymore. Bitcoin will change all that and I am excited to be living in this new dawning age of mankind.

The future looks bright.

If you submit your private keys, your coins ARE NOT SECURE!

How many places have been hacked? How much do you trust their employees?

When a bunch of customers using CoinValidation discover that their bitcoins are missing...I am just going to laugh. 

OMG, bitcoins were only six cents each? Next I will be hearing crazy things like that you could just mine them with a regular computer. 

Retrospectoscope? Please sell me one. Even if it could only look one day into the past, it sure would help me to avoid a lot of regrets!

I was a Goldbug (actually more of a Silverbug), but when I discovered the distributed nature of Bitcoin, I realized that I was now obsolete.

Reality hurts sometimes, but it is always best to face it. These people would rather deny it and then get angry at those who face it. It is a stupid way to live.

I hope to see some major coverage of this event in the media. Pretty cool thinking about a bitcoin being worth as much or more than a 1 oz. gold coin. For me, the next milestone will be when a bitcoin is worth a 10 oz. bar of gold. I think I just might buy one for decoration.