It's impossible to say bitcoin is a failure when it has always been number 1 and no signs of stopping
is the total failure to rally and continual selling pressure not a sign? or the continual centralization of miner power? whether people like it or not, superior technology is going to supplant bitcoin at some stage. sooner is more likely than later. YUP +1 |
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I sold on the way up.. sold off my last bit of ltc at 38.95. I did okay but was never involved for monetary gain.
It is a good time to buy back in now, but if you don't care about monetary gain then I guess it really doesn't matter.  No its not, price has been falling for 10 months the down trend continues. Its a terrible "investment" |
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Bitcoin functions as a digital collectible not currency.
So bitcoin is an asset not a currency. But what kind of asset is it? Can you eat it? live under it? drink it? can bitcoin keep you warm at night? how does it compare to other asset classes? and is there any compelling reason to collect a digital collectible?
It's an asset that I have complete control over. It can not be seized without my permission, and I can transfer it to whomever I want without anyone preventing that from occurring. If you don't understand the value in that, then I don't know what to say. I have complete control over the dump I took earlier today, no one is gonna seize it without my permission and I can transfer it to whom ever I want and there is a limited supply, guaranteed to less than 21 million in circulation, It is a deflationary dump and you are an idiot if you cant see the value in my dumps. I dont know what to tell you if you dont see the value in investing in my bowel movements, I can even make a digital representation of my dumps each day. My dumps have POS mining (proof of shit) It proves work was done in the production of each of my dumps. I add or remove laxatives to keep them produced at a steady rate. Invest in my digital collectible dumps if you dont you hate free markets! Resorting to nonsense due to lack of a good argument is pretty childish. I'm regretting taking you off my ignore list. I had hoped that there might be some value in having a conversation with you, but apparently not. Its not nonsense shitcoin and my dumps have a lot in common.. point is that it's an asset not a currency and that it is a shitty asset. I would much rather grains or oil to bitcoin. |
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Still waiting for the wrath of kelticfox to rain down on me.
Ready to admit I am no scammer?
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Where were all the naysayers when bitcoin went from 35 dollars to 2 dollars in 4 months? then sat at 4 dollars for like 6 months... I think too many people are too anxious and want mass adoption yesterday. this will take time, I personally think its ahead of schedule..
I am a naysayer at any price, Bitcoin is a failure no matter the manipulated value. Fine, if you, being a hero member of this forum, now believe that Bitcoin is failure then what a hell you are doing here? Leave us alone, let us stay in our delusion. I am here because I want to remove the money power from the state and return it to the people. That has always been my motivation, if you stay delusional we cant move forward on a concept that will work. |
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Where were all the naysayers when bitcoin went from 35 dollars to 2 dollars in 4 months? then sat at 4 dollars for like 6 months... I think too many people are too anxious and want mass adoption yesterday. this will take time, I personally think its ahead of schedule..
I am a naysayer at any price, Bitcoin is a failure no matter the manipulated value. |
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I sold on the way up.. sold off my last bit of ltc at 38.95. I did okay but was never involved for monetary gain.
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Good news doesn't need to have a positive effect on price. People buying does.
There should be a alot of people buying through the ETF, thus it is good news plus buying.  Also, I think we already noticed a nice little spike in price (although short lived) when GABI said that they are finally starting to invest. Granted, it seems like they are only buying once a month? I am not sure. I will have to look it up. But that should help too. Final Balance 6.2001 BTC hoq long you been holding that 6.2? losing money like mad  I feel like someone is stalking me looking at my address. But it should be worth $6,200,100 in a few years now. HODL!!!! Its all public record here this is my primary Transactions No. Transactions 628 Total Received 478.98136673 BTC Final Balance 0.00001 BTC |
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Good news doesn't need to have a positive effect on price. People buying does.
There should be a alot of people buying through the ETF, thus it is good news plus buying. Also, I think we already noticed a nice little spike in price (although short lived) when GABI said that they are finally starting to invest. Granted, it seems like they are only buying once a month? I am not sure. I will have to look it up. But that should help too. Final Balance 6.2001 BTC how long you been holding that 6.2? losing money like mad |
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Bitcoin functions as a digital collectible not currency.
So bitcoin is an asset not a currency. But what kind of asset is it? Can you eat it? live under it? drink it? can bitcoin keep you warm at night? how does it compare to other asset classes? and is there any compelling reason to collect a digital collectible?
It's an asset that I have complete control over. It can not be seized without my permission, and I can transfer it to whomever I want without anyone preventing that from occurring. If you don't understand the value in that, then I don't know what to say. I have complete control over the dump I took earlier today, no one is gonna seize it without my permission and I can transfer it to whom ever I want and there is a limited supply, guaranteed to less than 21 million in circulation, It is a deflationary dump and you are an idiot if you cant see the value in my dumps. I dont know what to tell you if you dont see the value in investing in my bowel movements, I can even make a digital representation of my dumps each day. My dumps have POS mining (proof of shit) It proves work was done in the production of each of my dumps. I add or remove laxatives to keep them produced at a steady rate. Invest in my digital collectible dumps if you dont you hate free markets! |
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100% wrong. There is nothing about a deflationary currency that guarantees anything about the price.
Just to clear this up, deflationary currency is worth more vs goods over time, that's the definition. 2014 has been an inflationary year for bitcoin. Increasing money supply does not in and of itself guarantee inflation, and neither does having a fixed supply guarantee deflation. Smarter than most around here. Realizes that inflation/deflation is a function of both supply and DEMAND! |
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I found this chart to be the best description of bitcoin's use so far, everyone would understand without difficulty  The dollar being shit isnt a defense of bitcoin being shit. Do the same chart over the last 10 months, fuck do it over the last 2 months, The dollar is up and bitcoin is way down. |
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2. The Abundance Model. A promise of something specific from someone specific made valuable by its redemption in real production. The value of this type of money is defined by the promised redemption in goods and/or services. As such, this type of money is promises of an indefinite number of non-uniform commodities in indefinite supply and, unlike the limited quantity "coin" concept of money, the total quantity of these credits in circulation does not affect their value, because the value of a credit is defined by what its issuer will redeem it for in real goods and/or services. Examples are: business-to-business barter credits, customer rewards, travel points, discount coupons, mutual credit systems.
I hope you aren't presenting this as a superior option. This type of money is not fungible and therefore completely vulnerable to censorship. If you read the proposal it is fungible. https://www.youtube.com/watch?v=XyWfUqEyIZchttp://www.moneyasdebt.net/Money Power In You E.C Riegel, Private Enterprise Money, 1944 "There is a treasure buried in your consciousness. If you will dig it up from the debris of superstition and fear that covers it you will gain a freedom and self-mastery that will lift your life to a higher plane. This is the money power in you. The power to create money with which to purchase wealth, health and happiness actually lies dormant within you. You have thought of the money power as something remote from you and beyond your grasp. You have dreamed of the good you could and would do if you had money power. You have blamed others for not accomplishing this good. You have blamed them for evil economic and political conditions; for unemployment, for poverty, for crime, for war. It is quite logical to blame these maladies upon the malfunction of the money power, but you have not suspected that the money power resides in you and because of your failure to exert it the world is afflicted with miseries. You have the power; you have the responsibility. The power and responsibility to banish poverty, unemployment, insecurity, misery and war rests entirely with you. You, in cooperation with other intelligent persons, can drive economic and political evils further and further from the area of your life and ultimately they may be driven from the face of the earth. You can do this by the money power in you, expressed first in your own prosperity and happiness, and radiating to others. You can do it and you must do it. There is no power outside of you that can bring these blessings to you. Petitioning the Government is like writing to Santa Claus. You need no laws — there is a law, a natural law that governs your money power. You need no government aid. You need only cooperation with and from persons who, like you, have resolved to exert the money power inherent in us all. This power in each of us needs only the recognition and respect of our fellows to spring forth and exert its blessings. We need not petition Congress and we need not waste time to denounce bankers, for they can neither help nor hinder our natural right to extend credit to each other, and this is the perfect basis for a money system." |
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I know I am telling the congregation that Jesus was just a man.. when I say bitcoin is a failure in this forum, but was hoping there would be a few people who could see the light.
First, I agree with you that Jesus was just a man. Just a regular religious jew in fact who adhere to judaism that led a movement to overthrow the Roman empire that somehow turned into what we know now as christianity but has never in his entire lifetime preached christianity or even know what the heck is christianity but judaism which is his original religion and nothing more. But I digress. Something that is a failure means no one wants anything to do with and would likely be forgotten and buried and moved on to other things. Apple Lisa was a failure. Microsoft Zune was a failure. Nokia N-gage was a failure. THQ uDraw was a failure. Bitcoin? Infrastructure is expanding, merchants are adopting, VCs are investing, people are buying, how can that be possibly be categorized as a failure? "Infrastructure is expanding, merchants are adopting, VCs are investing, people are buying, how can that be possibly be categorized as a failure?" Merchants adopt to get the press coverage but their sales are pathetic, VC are not investing at least not for the last 10 months those guys make money not through it down a hole, Fools might be buying but I doubt it no one wants an asset that loses 60 percent of its value in a few months https://blockchain.info/charts/estimated-transaction-volume-usd?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= |
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Just wondering how many people are ready to admit that it isn't gonna have main stream adoption?
I want to talk about why and what can be changed to fix bitcoin, but first we have to admit there is a problem.
Who cares about mainstream adoption? Do you think the world's governments are doing a good job? Yet, the people get the government they deserve. Think about that for a while and then realize why mainstream adoption of Bitcoin isn't going to happen until people are ready for a change in the way things work around here (Earth). The average debt slave has no need for Bitcoin nor do they even comprehend how it could benefit their lives. I know the free market terrifies you sublime5447. You've warned me before and I'm still perfectly fine with it. There is nothing free about the bitcoin market and if people wanted a change from the status quo bitcoin cant offer that. Bitcoin is the status quo and its model has been the status quo for thousands of years.. There is no difference between bitcoin and the USD. They dont change because it has nothing to offer, just another controlled money regime. It doesnt even have a market price! It violates the regression theorem! it's not currency! Two Kinds of Money 1.The Scarcity Model: A single uniform quantity in limited supply made valuable by its own scarcity. In other words, the value of this type of money depends on the supply of, and demand for, the money commodity itself. Conventional definitions of money define money only in terms of this model, a "medium of exchange". Examples are: cowries, gold and silver, fiat cash and coins, bank credit, and now, in the model's purest and most spectacularly speculative form, Bitcoin. 2. The Abundance Model. A promise of something specific from someone specific made valuable by its redemption in real production. The value of this type of money is defined by the promised redemption in goods and/or services. As such, this type of money is promises of an indefinite number of non-uniform commodities in indefinite supply and, unlike the limited quantity "coin" concept of money, the total quantity of these credits in circulation does not affect their value, because the value of a credit is defined by what its issuer will redeem it for in real goods and/or services. Examples are: business-to-business barter credits, customer rewards, travel points, discount coupons, mutual credit systems. |
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I know I am telling the congregation that Jesus was just a man.. when I say bitcoin is a failure in this forum, but was hoping there would be a few people who could see the light.
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Yeah there is a problem... Almost noone uses bitcoin and bitcoin is valued at $400... Can you fix this sublime5447?
No I cant but reality can and is the process of doing that now. It was 1200 10 months ago, it takes a while for reality to set in. |
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I hold bitcoins because it allows me to store and transfer value without the help of a middleman or the permission of an authority.
wrong. It doesn't allow you to store value Did it have value in the past? Yes. Does it still have value today? Yes. Will it have value in the future. I'm obviously betting (if you want to call it that, I've done my homework) it will. Just because a currency has a floating exchange rate does not mean that it can not store value. Perhaps experimental currencies are not for you. Come back in twenty years when things have normalized a bit. Currency doesn't have value it represents value, if bitcoin has value it is not a currency . Saying that currency has value, is like saying an inch has length. You can keep harping about "units of account" until you are blue in the face. Bitcoin functions. I can trade it for other things. It has properties unlike any other asset on the planet and those properties are useful and valuable to me. I personally don't care how you or anyone else classifies it. Bitcoin functions as a digital collectible not currency. So bitcoin is an asset not a currency. But what kind of asset is it? Can you eat it? live under it? drink it? can bitcoin keep you warm at night? how does it compare to other asset classes? and is there any compelling reason to collect a digital collectible? |
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you know, it's kind of funny because most people talk about how bitcoin is going to save everyone from tyranny, but they're always talking about the price. it seems like people are looking for it to explode within a relatively short amount of time, and when that doesn't happen, it's a "failure." nevermind that we are getting tons and tons of venture capitalist money, or that we have some really big companies accepting bitcoin.
I am not talking about its price I am talking about its lack of utility and a market price. I am also pointing out that BTC had its day in the sun and people dont want it, but why dont they want it? because it doesn't fix any problems in their lives. Bitcoin has nothing to offer. |
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