Who's expecting to see above 1000 USD on MtGox within a week? I am!!!  up uP UP! it grow by 80$ since yesterday and only 40$ to 1000$. So bitcoiner get conservative? You did you mean 10 000$ within a week?  I stand corrected. Above 1000 USD on MtGox Today!!! We need slow growth, hehe.  I'd say next 5 hours!! |
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I hope you paid for that donkey with BTC!
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someone is buying.. the steady 20 btc buys and the odd 160 every now and then will have us over 870 pretty soon.
HODL!!! sorry.. couldn't resist! |
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Did someboday sell themselves (a lot of) their own coins for $1500??
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and removed...
Nah.. it was eaten surely? SOmeone bought 550 in one chunk. |
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Is it diesel or lpg for you?
Bwaahaha.. Nah.. seriously.. i was glad to have work to do today, because it was pretty boring in truth. |
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My response is to the article, not to the OP and discussion that followed. They are two separate things and I decided to leave the latter as there are plenty doing a good enough job refuting the OP's points. This refers to Eric Tymoigne:
Rarely has one who 'knows' so much understood so little!
Greenspan couldn't get his head around 'no intrinsic value' either but at least he didn't take forever to get to it!
'Bitcoin is supposed to be this and here's a complex equation that proves it isn't this therefore Bitcoin is rubbish'!
This is a classic, even beautiful illustration of how those stuck in incompatible economic paradigms will be the last to accept this thing simply works!
The bolded part.. thank you for that. My feelings exactly. |
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Bitcoins have ZERO established value.
This is patently false. If even two people have Bitcoin wallets, the value has been established. One phone on earth is useless, as is one computer with internet, but once there are two, things get interesting. I did not say they have NO VALUE, I said they have no "established value" which is completely different. Market forces determine the value mate. This is how it is established. Therefore, because there are exchanges.. because there is a 'going rate' determined by the 'market price'.. this is in fact established value. The value established by market forces. |
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To send value whatever it is you are sending needs to first have value.
Yes, any other cryptocurrency can displace bitcoin, but so far there is no strong reason for that to happen. If one is created which actually makes improvements on bitcoin, people will sell bitcoins to obtain these new coins.
Will those new improved coins also have a fair price of $0 because some day a better coin may take it's place? No, for the same reason that isn't true of bitcoins today.
Top, top answer. +1. Succinct and to the point. |
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Does anybody have the link for that website were you can graphically see the coins being sold to each country?
fiat leak.. here you go.. http://fiatleak.com/ |
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there is an option. just click on preferences in the top right hand of the page and switch it back to BTC.
Thanks.  |
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I'm not convinced that mBTC is a good idea. Seems like some people just want to fool the market and noobs into thinking that bitcoins are cheaper than they are. One thing about Bitcoin is that it is the first 100% honest money. If it costs $1100 for each coin, then so be it!
I think it's evolution, not just for the noobs. Unless you look at it as commodity, not money. When my friends ask me how much have I paid for something in BTC, answering something like 0.055 sounds geeky, but that doesn't serve a purpose. I think its fine for websites and shops to use mBTC. But the exchanges are a different story. Google shares are $1050, Platinum oz is $1350, Berkshire Hathaway shares are $172k. Let's see Bitcoin pass this sucker: http://finance.yahoo.com/q?d=t&s=BRK-AI agree with this. I think there should at least be a link on bitcoinity to switch back. I personally don't like it so much. I looked at the live ticker and thought holy shit, someone just bought 13,000 bitcoins.. .. no, wait.. ah right. Confusing for my poor hungover noodle this morning. Also, when i looked over and saw a volume spike on Dec 1-2 for 50 Million.. i was also like.. whoah.. that's a lot... no.. wait a min. Would be nice to at least have the option for the old way too. |
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No matter what bitcoin does or becomes congratulations are certainly due to cypherdoc on the call.
+1. +2 |
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The price was $958 yesterday at one point. Since then we have gone up $266 Previous ATHs are now just daily rises... C-r-A-z-Y-ness.. unreal Bitcoin!!!.. Gold Parity coming up. Unreal. |
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I'm not entering a guess or trying to win anything.. but it looks like it will happen in the next hour.
All i can say is WOW! That happened pretty fast.
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Yep, just read it. Surprised? No. I've read many like it. Old school establish ecconomists dismissing bitcoin as just another tulip story.. or just another blah blah.. Yeah.. spare me please. The comments section is even worse. Everytime i read comments on a bitcoin story on the web.. you see the same ill-informed opinion, and the same questions raised again and again. Though it is hardly surprising that these are questions raised by people who have not done any research into it. What is it backed by?? Cryptography and maths. How do we know there will only be 21 Million ever?? Cryptography and maths. Yes agreed. The concern is the general public (read potential future bitcoiners) are put off by the negative aspect of articles like this. Unfortunately not everybody understands cryptography or maths.... but however this is a short term problem that will be overcome as bitcoin becomes more user friendly, just like the early internet. I read the first couple of comments then dismissed them after reading somebody trying to say that 'they' (whoever 'they' are) can increase the 21M limit at will. What a piece of crap that economist is saying!!!! Read this: The big advantage of Bitcoin as "stateless money" is that when it collapses, the government won't have to bail it out. Who is the government in a democratic country? Its people! And they have to bail out f... banks (trust me on this one, I am Greek)!!!! So, I trust banks with my money, they fuck it (as they are doomed to do because of their very existence) and then I have to bail them in or out or whatever. To make it short, I bail out myself because I am a fool in that I trust what is doomed to fail (that is banks)!!!! Well, silly me then!!! NO MORE Yeah.. he'S the old school type, will never get it.. then he will, but won't admit it. Then he will admit it when it is far too late for him. Anyway.. he almost makes me ashamed to be Irish. |
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Munch Munch Munch... $1000 Munched!!
And it's up Up UP!!!
$1010 now.. and nothing really to stop it (if it kept at this rate!)
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Yep, just read it. Surprised? No. I've read many like it. Old school establish ecconomists dismissing bitcoin as just another tulip story.. or just another blah blah.. Yeah.. spare me please. The comments section is even worse. Everytime i read comments on a bitcoin story on the web.. you see the same ill-informed opinion, and the same questions raised again and again. Though it is hardly surprising that these are questions raised by people who have not done any research into it. What is it backed by?? Cryptography and maths. How do we know there will only be 21 Million ever?? Cryptography and maths. |
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What do you think will happen at 999.99 on stamp:
1: Wall eaten in 10 seconds
2: Wall slowly eaten
3: Wall withdrawn
4: Bouncing for several hours from wall
Make your guess quick!
4: Bouncing for several hours from wall Coz, that would be more like Stamp |
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