 Show Posts
|
|
Pages: [1]
|
Warren Buffett - Chairman and CEO of Berkshire Hathaway Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful. http://www.berkshirehathaway.com/letters/2004ltr.pdfBLOOD RED CANDLES MAKE GRASS GREEN CANDLES GROW!!!!!!!!!!!!!!!!!!!!!!!!!!!  you should start taking tips for your funnies |
|
|
|
Warren Buffett - Chairman and CEO of Berkshire Hathaway Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful. http://www.berkshirehathaway.com/letters/2004ltr.pdfok then. i dare you to buy a ton of bitcoin right now. see if your balls dont sweat when it keeps going down. buffet is leveling everyone to lose all their money while he gains an edge in making that statement. why the hell would one as ruthless as him would tell everyone his secrets in trading? there are no secrets to trading. what buffet says is right, but that statement leaves out one important topic...manage your risk properly so that you are ABLE to deploy funds when others are fearful and you are ABLE to take profits when others are greedy. Managing your money is the secret to trading. But this really isn't a secret. Just ask any grandmother how it's done. |
|
|
|
|
I blame the buyers and the sellers
|
|
|
|
Great discussion but it needs a little more depth from the big picture!  What is the time frame for success? Everyone using bitcoins tomorrow? Next year? by 2020? Without a goal, we have nothing! Secondly, as many people have pointed out, Bitcoin is the Internet circa 1992 - I was there, it was awful. If we use this as a guide, then we have a number of hurdles to deal with. Firstly, we are beyond the technical issues, bitcoin works as it should, and it can be tweaked for scale, just like the interest in 1992. The current problem is legal, which the internet also had to deal with. Online copyright was a huge problem in 1992 - who owned what? What laws counted? Who was responsible if? etc - these are the same questions that bitcoin needs to address. Once that happens, then its the next stage, mass adoption. In the UK, we had a number of ISPs who gave us the push to make the internet popular, the most famous being Freeserve. The downside of this popularity was that the freeservers knew nothing, and blocked up the bandwidth! Who will be the market makers for bitcoin? We need to grow the current market from its 2 million users to at least a billion, if not more before bitcoin becomes something. With mainstream we got economies of scale, and finally e-commerce stared making sense - and this only really stated happening in the last 10 years. Bitcoin needs to find its niche, which I agree is probably micro payments of less than $100 a deal. It needs to be better, and cheaper than paypal - and be able to prove it to anyone who doubts it. There is a huge difference between being an asparagus type geek who can handle the foibles of bitcoin, and the rest of society. The mindset change needed to turn bitcoin into a a must have useful and appealing tool of the mass market is so big, I can't even start to describe it. We are talking about thinking like a 15 year old girl, and getting her to expect to use bitcoin everywhere - because she finds it better than anything she currently uses! Please don't think I'm being ageist or sexist or whatever offensivist I might be! The point is that mainstream take up has far more 15 year old girls than it have technical libertarian geeky types. Once we turn that corner, then the son of bitcoin will be in every digital wallet on the planet, but in reality, its not going to happen until at least 2025! +1 |
|
|
|
|
College is the perfect environment for widespread bitcoin adoption. I would like to see a bitcoin club/meetup in every major university this upcoming semester. Try to get the little things that students pay for everyday, food, laundry, books, etc. to accept bitcoins. These products are the perfect products to accept btc because they are generally small purchases that never have any need for a chargeback and don't require trust because the consumer already has to be a student on campus to purchase these things. And these on campus stores and cafeterias are usually run by students themselves so it would be easier to convince the student run business to accept bitcoins than to convince a 40 year old coffee shop owner in town.
Oh and the travel with bitcoins is a great idea too. Isn't there a place in Ecuador that does the hyuasca (sp?)therapy that accepts bitcoin?
|
|
|
|
Check out the historical chart at http://bitcoin.clarkmoody.com/ (put the time frame on D1). Aside from the parabolic run up into the USD 200's, the level of 100 seems to be, for now, a new baseline valuation. When markets don't know what things are fundamentally worth, they tend to trade around "round numbers." Currently 1BTC = 1 Barrel of oil, approximately. hmmm interesting...not saying that 1 btc should equate to a barrel of oil, but would like to see the cost of mining one btc compared to the cost of drilling for one barrel of oil. of course the costs of mining one btc cannot be broken down like that and the costs of producing one barrel of oil cannot actually be determined what with all the government intervention in oil markets...but it would be a good thought experiment nonetheless. |
|
|
|
|
The OP was actually asking where bitcoin was heading in terms of economic and world impact, not price predictions.
|
|
|
|
|
Just my take on this...
Selling is constant. Miners have to sell on a daily or weekly basis to earn fiat to cover their real world costs (electricity, rent, food)
Buying comes in waves. People learn about bitcoin, and get involved in bitcoin, and buy bitcoins, in non-linear time frames. Events and news usually cause these buying spikes, as we saw with the Cyprus events from earlier this year.
It looks like we are in a quiet buying period combined with a constant selling cycle.
Just my two bits...
Tips if you found this info informative or entertaining. 1DQGTLJxiKnvRaYizpRo1Cy4hcHa4HqKqo
|
|
|
|
Nakamoto, SAtoshi
The clues were always there, people don't wanna see it...
Maybe it's NASA ( NAkamoto SAtoshi) using the hashing power of both Bitcoin and SETI@Home to hide the existance of aliens together with the Men in Black. And the lizards, they're the ones who're really behind it all!   |
|
|
|
I've got a great name. I will never change it. Even if some bank who has the same letters as I do sues me.
HongkongShanghaiBitCoin
It's kind of long though. you could just use my abbreviated letters HSBC |
|
|
|
|
I've got a great name. I will never change it. Even if some bank who has the same letters as I do sues me.
HongkongShanghaiBitCoin
|
|
|
|
|
I thought I'd start a thread for the newbies who have questions regarding BitcoinQT. I'm currently downloading the client as this was recommended as the original wallet. My question is....how long is this going to take...I've been downloading for several days and it seems to go so slow since I got to the 90% complete mark.
I hope to get an answer to my question and to see future questions from newbies regarding bitcoinqt answered here in this thread by some of the more knowledgeable and experienced members of this forum.
|
|
|
|
Nakamoto, SAtoshi
The clues were always there, people don't wanna see it...
ROFL that's a good one. |
|
|
|
|
second that on ASICMiner. Avalon might be able to ship periodically. Definetly stay away from Butterfly Labs. They've been pre-ordered for numerous products for 6 months and they have yet to ship anything. AND they are still taking more pre-orders for the same products they haven't been able to ship for 6 months.
|
|
|
|
|
ebay is very anti-bitcoin. there is a thread on reddit somewhere where someone was selling mining equipment, not bitcoins, but computer hardware, and the auction got shut down.
|
|
|
|
|
