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Why are people so worried about people "hoarding" bitcoins?
Is it because you think that there will be no more bitcoins left to spend?
Is it because you think we should all be spending all of our money?
Is it the 1% thing?
Do you think it is a huge conspiracy to later crash the price and destroy Bitcoin?
There are almost 11 million bitcoins out there. Even if there were only 100 bitcoins (less than created in the last hour), those 100 bitcoins could be used to run a small economy with the fact that each bitcoin is 100,000,000 satoshi. And if you are so worried about that, gather up at least 100 bitcoins for that purpose.
If you are worried about us not spending bitcoins, the more money that goes into the bitcoin economy, the larger the bitcoin market will be and the more incentive for someone to tap that huge market. How many technology pitches start with "X is a billion dollar a year industry...". Look at the video game market, millions are spent to get kids to come off of a few bucks to buy some game or another. Competing companies vying for the larger piece of the pie. People will spend their bitcoin. And if it turns us all into savers instead of spenders, then all the better. How much is consumer debt these days?
The 1% thing? Are you worried that only a few people will have control over the whole Bitcoin economy and be able to control things like the huge corporations and banks do now? The best way to prevent that is to start hoarding yourself and get as many other people to hoard as well.
Or is it all about crashing Bitcoin? The old pump and dump argument. Is everyone working together on this? Because I never got the memo. Bitcoin has hardly scratched the surface of adoption. If someone wants to dump their bitcoin, there are tons of people in line to buy at cheaper prices daily. Let them dump into our waiting wallets.
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In some ways, Bitcoin is less anonymous than the dollar.
All of your transactions are right there for the world to see.
And you mention Amazon, PayPal, etc. for the non-anonymity of the dollar.
I see your third party services and return with BitMit, bitcoin-otc, bitcointalk.
You can look at the address in my signature and see exactly where I have received and spent bitcoins. Can you do that with your dollars?
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Should we all enter politics and change some ******* laws?
Sure. Which laws will we all agree on?  End the Fed? |
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Problem is price has to stabilize for it to be useful as a currency. I have almost mined enough Litecoins to buy an oz of silver and I was thinking about waiting to buy it so I can spend less litecoins. Not good for people to be thinking about that for a currency.
Bitcoin may actually be the solution to people only buying what they need instead of just throwing their money away on random crap. |
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I recall that I originally posted this because it had gone from $7 to $12 quickly (a 70% increase). Then settled back down to $10.
Then after that all hell broke loose and it was every man for himself trying to pick away at any gains they could muster.
A similar increase today would push the price up to $270 and back down to $225. It would be pure chaos.
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 You have an explanation? I would say that someone photoshopped those black arrows. I do not think it is part of the original chart. Good enough explanation? |
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Parties and laws will be things that people with dollars worry about.
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The dollar is reaching the tipping point of its bubble.
Best to get rid of them while you still can.
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In this article: http://rt.com/op-edge/patent-lawsuit-bitcoin-exchanges-458/It is mentioned: "in the 1990s I developed a technology and market for creating price-discovery for future box office results for movies. The entrenched monopoly in Hollywood made sure that never succeeded; breaking up the company and selling the technology to Wall St. where it is warehoused out of reach of any good it might have done establishing freer markets benefiting the public's interest." Perhaps this is something that Bitcoin can facilitate. |
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I like how people speak of greed as if it is a bad thing.
The more people who put their money into Bitcoin, the more people will start to understand Bitcoin and be willing to use their bitcoins to spend.
Why would you go back to dollars once you understand how Bitcoin works?
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I believe they have Bitcoin-bongs for sale on Silk Road.
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One of the main criticisms of Bitcoin or other altcoins is that it has no intrinsic value.
It does have intrinsic value outside of just a currency. Coming soon. |
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With the recent HUGE spike in value over the last couple of months I've ran into very few people who are spending their BTC,
What are they spending then? Dollars (or whatever the currency is in their country). They are holding onto their BTC though. Most people I know who know what BTC's are having been purchasing BTC the last couple weeks and holding onto them. Why would they have dollars in the first place if bitcoins continue to increase in value? Why have a currency that loses value? |
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I have a buddy who one day just said "screw it". Instead of paying his rent that month, he took it and put it toward a cheap $800 van. He took out the back seats and made a bed out of them with storage underneath. He added a couple of solar panels on the roof and powers all of his interior stuff with that (laptop, small TV, phone, etc.).
... and they get food stamps so he is doing fine, his only bill is insurance on the van and his cell phone bill.
Well this is what I was asking about... how cheap would you be willing to live. Me? I definitely am not living out of a van sleeping in Wal-Mart parking lots. BUT The last line in the quote above is what I sure don't like... Why should I pay for him to live his nomadic lifestyle? If you choose to live like that then by all means go for it, but don't take government (taxpayer's) funds to help you live it. The dude is a hardcore socialist/communist. Even has the hammer and sickle tattooed on his arm. He is all about redistribution and all of that. I am not saying it is right, but at least he is helping to collapse a broken system. |
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I have a buddy who one day just said "screw it". Instead of paying his rent that month, he took it and put it toward a cheap $800 van. He took out the back seats and made a bed out of them with storage underneath. He added a couple of solar panels on the roof and powers all of his interior stuff with that (laptop, small TV, phone, etc.). He just drives the van to state parks and goes deep into the woods and just camps out for a few weeks at a time. His wife gets disability from the military for around $1500 a month and they get food stamps so he is doing fine, his only bill is insurance on the van and his cell phone bill. He will come by the neighborhood and he has enough friends that they usually let him just park his van at their place or he finds an empty lot nearby. He said that when he travels he will either stay at Walmart parking lots or just parked on the street, blending in with all of the other vehicles. He heads north in the summer and goes south in the winter. He will do odd jobs here and there to keep himself busy and make a bit of pocket change but he has all the free time he could ever want. He is always working on some new invention with electricity or some little device. He has the time to do it. I have considered it. But for me, I was considering buying something like this: http://www.sportsmobile.com/2_eb-110s.htmlI would do it if I could just have a business online. |
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It could reach Paypal levels in a couple years, that is what is scary.
How will you deal with it if BTC really does reach $1 million? What are you supposed to do?
Chances are by then most people will have spent theirs up and will be on LTC or PPC, but what if?
Everyone agrees at that point to add a couple of decimal points. Though, I suspect that if BTC does reach $1 million it will coincide with bread costing $1,000. |
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Im feeling generous so Ill buy his bitcoins for 20 a piece... I'll pay USD 21. I'll pay USD 22! USD 23 here It is over...I will pay $50 a piece. |
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Is there not some sort of exclusion for something that has been known by the public for a certain amount of time?
I know when I was going to file a patent, one of the regulations was that I could not patent something that I had publicly disclosed more than a year prior.
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