Working on getting more people into Bitcoin must involve finding and promoting plausible use cases. I will not recommend buying bitcoins to anyone outside this forum who doesn't understand the risk involved and/or doesn't need it. Purely stating that "If 5M people hold 2 Bitcoin (in addition to the stash that Satoshi has and such) the supply would be much lower than the demand" promotes a pyramid scheme way of thinking, and that is definitely not what we need. Those 5M 500M people should have a real reason to hold buy and use 2/5/10BTC.
I'm not saying that people should be holding. I'm saying that they are. You should look around the forums more. The people around here see Bitcoin as an asset not a currency. Did I just not say that we should bring more people to Bitcoin? I've been following the price more closely in the past. The market isn't just as exciting as it used to be. In the last 6 months we've hit $400 only once. I only June/July 2015 would be the same as June/July 2014. I clearly don't understand your original criticism then. Nor do I understand your reply to my retort. |
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nothing-better-to-do user
If only you had something better to do. If Stolfi hadn't withdrawn to academia in '92 we would all still be exchanging floppy disks and people would still have phone tables.  |
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If BTC gains traction as a kind of linux for financial transactions then $50/$250/$1250 is cheap as peanuts. I know I'm beating on an old drum here but I am baffled by people who always wants ever cheaper coins. One of the few things that can crash this train is if prices go so far down that the infrastructure around BTC crumbles (I know that's an oversimplification of cause/effect, but you get the point). I'm not knocking on Tarmi or other's who wants BTC to "get rekt!", those are entirely consistent in wanting to crash the price.
I think that the community shouldn't be focusing on the price so much right now. We should rather work on getting more people into Bitcoin. The adoption is just not there yet (not talking about merchants). We don't need people hoping on the train when a spike occurs and then jump off. The price can go pretty high easy. If 5M people hold 2 Bitcoin (in addition to the stash that Satoshi has and such) the supply would be much lower than the demand. Well... "Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion" I'm sorry, the WO thread is the most off-topic thread there is, but I genuinely disagree with what you are saying. The train hoppers are here already, and more will come. Bitcoin needs to be robust enough to deal with it now. Not when "the community" thinks it is mature enough. A lot of people have invested in BTC and to brush them off is disrespectful to them and destructive to the whole project. Working on getting more people into Bitcoin must involve finding and promoting plausible use cases. I will not recommend buying bitcoins to anyone outside this forum who doesn't understand the risk involved and/or doesn't need it. Purely stating that "If 5M people hold 2 Bitcoin (in addition to the stash that Satoshi has and such) the supply would be much lower than the demand" promotes a pyramid scheme way of thinking, and that is definitely not what we need. Those 5M 500M people should have a real reason to hold buy and use 2/5/10BTC. |
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Bear whale needs to push this thing to below 100 for some fireworks to happen and more media attention before anything interesting will develop.
A headline such as "Bitcoin goes from $1200 to below $50 and now back to $400" would bring a lot of attention.
Anything is possible xiaoxiao, but do you really believe the price will drop another 80% from here, just to let you buy in and make 10x your money? Markets don't work like that. And if bitcoin did reach 50$ you would certainly would not want to buy. When the price was 1200 and someone said would you buy coins at 160 or 250 next year you would have jumped at the chance, right? But now the price is down here all you can see is an opportunity to buy coins even cheaper. What is amusing is you then expect other people to suddenly buy it back up 10x so you can profit.  If BTC gains traction as a kind of linux for financial transactions then $50/$250/$1250 is cheap as peanuts. I know I'm beating on an old drum here but I am baffled by people who always wants ever cheaper coins. One of the few things that can crash this train is if prices go so far down that the infrastructure around BTC crumbles (I know that's an oversimplification of cause/effect, but you get the point). I'm not knocking on Tarmi or other's who wants BTC to "get rekt!", those are entirely consistent in wanting to crash the price. |
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 The bearwhale is close to waking up!!!! Not so sure about that  |
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I start feeling that I care less and less about the daily changes in bitcoin price... I feel as though it won't matter in two years, because my coins (well, my 1/6th of a coin) will be worth at least twice what I bought them at ($280-ish). Now, I'm watching the market with not a care in the world. I feel a bit liberated. Time will tell if I'm wrong.
That's because we know now that there is a bottom to the price other than zero. |
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Shorts rising, Longs flat.
26k shorts. Hmmm... things better go their way soon or they might freak out. In which case: ka-ching! |
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DO NOT BE AFRAID TARMI
of what? of sneaky bulls that are trying to start something on eastern sunday? no. they will fail miserably. Cut your loose!!! |
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It will be a small group of half a dozen miners, but it will have more than half of the global hashpower.
That's about the stupidest thing I've ever heard. Even with Memristor technology it would take more than a small group to jam out the global hashpower. There's billions in infrastructure and it would require trillions to topple. Not worth the effort. If you had trillions why bother with taking over the bitcoin hash, just buy most of it up and it's yours.
True, just rape the market and buy most of the coins. Much easier. Hey!... Tarmi! Are you trying to take over Bitcoin? |
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Do not panic bears!!
This is just the usual blip upward before this market resumes its march to oblivion.
Keep adding more shorts!!!
Remember:
"The price always goes back down"
I can't wait till we reach minus territory, that's where the real shorting starts. To Hades!!! |
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You speak in what if's with little knowledge of the subject or that mater what "miners" want. No alts for starters... A larger block size would solve transaction limits as was the original intent.
Did you read the posts? Adam wrote that it was so difficult to get consensus on even trivial changes like increasing block size, imagine on postponing the halving. I just pointed out that the miners will have no monetary gain with larger blocks, but would have a huge one with the postponement. Last time I checked, the top 4-6 miners had more than 51% and were all in China. Do we know what they may want? Since that "attack" would not be risk free, the top miners will not want to risk it unless they have much more than 51%. Also, if the price more than doubles before that, say 800 $/BTC by early 2016, they would probably regain a comfortable profit margin and may be happy with it. But with the price at 800 $/BTC, on the other hand, postponing the halving would give them ~500 M$ of extra revenue per year... Sorry but thats bullsh*t, if the block halving changed the price would crumble. So they would have no monetary gain at all. It makes no economical sense, you suggest that the miners could agree on it and everyone who pays their bills (the buyers) would just be like ah okay. Not gonna happen. Edit: Lets also not forget that 51% is where it becomes possible, its still a hard thing to do and to pull off succesfully would likely require much more than that. I might have fallen and hit my head, but I thought the 51% attack was related to transactions. To change the halving you would have to change the bitcoin client. Those "bad miners" would be mining an alt. |
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Price goes down for 10$ and bulls demand silence, since its only a 10$ drop, nothing that value attention. Price goes up for 10$ and the same idiots claim bears to close their shorts.
The exchange price is above his alleged short entry. say again you fag! but this is nothing...I will see you in the underworld. your Hades! Poor Tarmi! I am not poor! I am a king bear!  Lol! Simba must get rekt!!! |
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Price goes down for 10$ and bulls demand silence, since its only a 10$ drop, nothing that value attention. Price goes up for 10$ and the same idiots claim bears to close their shorts.
The exchange price is above his alleged short entry. say again you fag! but this is nothing...I will see you in the underworld. your Hades! Poor Tarmi! I don't understand what gays or cigarettes ever did to you, but I understand that you are frustrated. I'm on my mobile but if someone could post a bear hug gif/meme that would be nice. |
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This thread is pure genious. It's like troll-flypaper. It's meta-trolling.
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how long am I going to have to wait??? huh?
Yesterday I was feeling bearish- VERY bearish. I felt the most bearish I have ever felt. I even went online and was looking for a high paying job. Bitcoin was failing me. Perhaps the fact a permabull like me was feeling this way is a true sign we reached full capitulation and we are finally on our way up? Hopefully the wait is over!  Keep looking for that job. Bitcoin will not save you from needing to work for your money. If you don't think so, then that is a true sign the worst is still to come. It isn't like I don't work, however, as a mostly "at home" mom I don't work full-time. I do a real estate transaction here and there and some other side jobs. I was just thinking of finding something more permanent and full-time. It would actually put a strain on the family to do so though. Another Bitcoin bubble would make things just a little easier. I am sure I am not the only one on here that feels that way.  I wouldn't mind it being a more sustainable trend than a bubble. I think we will have a few more bubbles until we get to that point. But what do I know? I admit that I have been repeatedly surprised by BTC since when I first bought in 2013. Depends on rate of adoption and who adopts. Wall Street can only get us so far. To quote someone I don't remember who: we can't all make a living cutting each others hair. |
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@Wary
Ok, thanks! I was really curious as to how you thought about these things. It seems like an interesting idea with a lot of the same obstacles as socialist anarchism, but from a completely different angle. Will be interesting to see if they can get any of the social experiments in South America off the ground.
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nice & slowly.  That does not sound like shnappy to me. More stabby I'd say  Tarmi seems frustrated. I think we all should be a bit more encouraging to him.  |
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how long am I going to have to wait??? huh?
Yesterday I was feeling bearish- VERY bearish. I felt the most bearish I have ever felt. I even went online and was looking for a high paying job. Bitcoin was failing me. Perhaps the fact a permabull like me was feeling this way is a true sign we reached full capitulation and we are finally on our way up? Hopefully the wait is over! Keep looking for that job. Bitcoin will not save you from needing to work for your money. If you don't think so, then that is a true sign the worst is still to come. It isn't like I don't work, however, as a mostly "at home" mom I don't work full-time. I do a real estate transaction here and there and some other side jobs. I was just thinking of finding something more permanent and full-time. It would actually put a strain on the family to do so though. Another Bitcoin bubble would make things just a little easier. I am sure I am not the only one on here that feels that way. I wouldn't mind it being a more sustainable trend than a bubble. |
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Democracy is an oxymoron. Demo-cracy mean power of people, but power over whom? Over themselves? It makes no sense, like horse riding on itself.
In reality it's state having power over people. By force and deception. Police is the force, democracy is the deception. As for relations between judges and police, it may be true, but it doesn't matter. They are parts of single entity: the state, and this entity is your collective owner. They are ultimate owners of your money, freedom and life. They can take it from you, if they decide to.
Hi again Wary, But how would you suggest that society should arrange itself? Through contract jurisdictions. Cancel territorial monopoly of states. States currently form a cartel, they divided all land (along with people that live on this land) between themselves. We should break this cartel, force them compete for us, the customers, and let us, the customers, choose (choose for themselves and themselves only). Any state should be able to provide their services to everyone, and everyone should be able to subscribe to services of any state, without relocating. Just like you subscribe to an internet provider. Results of such arrangement: -No "cracy". Nobody will have power over honest person. If your "protection provider" leans on you, you just go to their competitor. -Fees instead of taxes. You pay not % of your income, but $ for services provided. -"Save and protect" (i.e. police and judges) becomes real service, rather than hypocrisy. -Apart from protecting you from thugs&crooks, no other services from states. They won't mess with health, education, currency, pension, religion, sex, marriage etc etc etc. -States will be doing the only thing, but will be doing it much better than now, and much cheaper (as always happens when forced monopoly is replaced by free competition). To see the scale of possible improvement, try to imagine how would it look if we were choosing boots the same way as we are choosing presidents: one size/shape/color for the whole country, elected from just two options once in 4 years. tl;dr; Let market forces improve the states, like they improved other sides of life.More details - in numerous ancap writings. Like old, but still good D.Friedman's "Machinery of freedom". With states, are you talking about sovereign states or federal states (Like the states of the USA)? And how does your system of changing "protection provider" differ from migration, and how is it achieved? |
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how long am I going to have to wait??? huh?
Yesterday I was feeling bearish- VERY bearish. I felt the most bearish I have ever felt. I even went online and was looking for a high paying job. Bitcoin was failing me. Perhaps the fact a permabull like me was feeling this way is a true sign we reached full capitulation and we are finally on our way up? Hopefully the wait is over! If someone actually starts using this thingy we won't need capitulation. |
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