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I think its a reasonable article. As someone above points out he was writing this at the height of the dotcom boom. Secondly doesnt anyone see the irony in an article titled 'why economicts predictions are always wrong?' Like, he is an economist, making a prediction ... and it was wrong. hee hee hee.
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Really, how was the tulip boom and bust traceable to central planning? 'Tulipmania' was the result of government meddling. The government passed laws leading to massive expansion of the money supply, which created the bubble. Conspiracy theorists and libertarians sh*t me to tears. |
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Really, how was the tulip boom and bust traceable to central planning? 'Tulipmania' was the result of government meddling. The government passed laws leading to massive expansion of the money supply, which created the bubble. Funny thing this "government" concept eh ? We do not need them, they need us, yet they have all the power. Just goes to show how the masses truly are sheep. You are a tool of the highest order. |
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I think you will be okay but keep hassling. The site has been under immense pressure and the stated time for withdrawals is 2 weeks. As far as the support goes I think the issue there is people with limited english. But, as you say, the answers could just have easily come from a bot which doesnt really inspire confidence.
My suggestion is just to keep hassleing through AML and support.
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ByTeCee, How does the market learn exactly? By keeping the scope of the state strictly limited, the responsibility for and consequences of bad decisions rests on the bad decision makers.... not the tax payer. That is what you have with a free market. That is what we haven't seen in over a hundred years.... particularly since the rise of government controlled fiat currencies. The causes of all major booms and busts can be traced to central planning. Really, how was the tulip boom and bust traceable to central planning? |
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Its really pretty simple market behaviour. Nothing new. Its all happened before. I will be using crypto currency for a long time to come and I suspect a lot of other people will do too. |
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Ive used spend bitcoin a fair bit. Go into bank with cash. Deposit to your address va la. Banks dont require ID or anything like that to deposit.
Having said that I notice the rates on spend bitcoin are now way out of whack with the Gox.
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How does the market learn exactly? Oh thats right the tech boom it learnt after that one ... oh right ... after the housing bubble ... surely must have learnt after that one ... of course it MUST have learnt after Black Monday in 1929 or Black Tuesday in 1987 ... oh wait then there was tulip mania, GFC jeez ...
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what was bitcoin meant to be?
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you dont need to worry about exchanges syncing their prices
guys will code arb bots
and they will exploit and arbitrage differences between the exchanges, thus putting them at the same prices
and bitcoin needs lots more exchanges, and much better exchanges than mt gox too.
+1 and I wish I could code arb bots. How do I do that? |
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I'm bookmarking this thread so I can bump it when we hit $300.
BUMP |
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To all of you panic buying because you missed the "greatest thing ever", mark this post, within 6 months you will be able to buy in much lower, I have a large buy order at $35 (just above the 2011 high).
if this were an established commodity like gold, copper, soybeans, or a currency cross, which I have been trading for 15 years, that is the smart buy point - not at $159
you just need to look at the naivete of the posts on this board to know this is a sucker rally.
"i'm loaning money to ....."
" I save $200 a month and im putting it all in bitcoins ...... "
"we are revolutionaries......."
good luck to all the future bitcoin millionaires :-)
I know the guy is arrogant but he is right, I hopped out at $137 on the way up (no lag on the Gox at that stage). Guys, a few of you are gonna learn some harsh lessons but trust me it is better long term that you do. I do think this has a future as a currency but I am not interested in trading it long term to be honest. For a start, as a few have pointed out, the trading platforms are useless. I just lucked into this rally cause I only use bitcoin for 1 purpose and had a few stocked up so I didnt have to keep depositing all the time ... then ... kaboom!! ... fortunately for me I have been in equities for about 7 years so I recognised the pattern straight away. |
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I read in another thread on this forum some people have had trouble using the bank transfer method through Mt Gox. That it takes a long time and they had to follow up with Gox several times before anything happened and even then they needed to verify the account through AML. (Even though it specifically says you dont need to do this on the site). Those experiences, were I believe, before you could add your own details: https://mtgox.com/press_release_20120418.htmlAnyone got some experience on this they care to share? Works smooth? Or other. |
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Been interested in BTC since I found out what it could help me buy. Its a damn interesting ride so far.
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Be careful guys. In the world of equity (stocks) not even professional traders try to time the market.
Exactly. It's dangerous to your wealth trying to trade BTC right now. Its time to cash out, sit back and watch. |
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You're in a bubble if you think about Bitcoin all day, and night.
I wouldn't go about superimposing the old-fiat world's structure to what is now Bitcoin.
LOL!!!!!!!!! Yeah, BTC isnt like any other market at any time or in any place. Get real. |
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I've been bouncing back and forth between this site and reddit. Like I said, I'm in no way an expert nor do I have any insight whatsoever beyond heresay and speculation. The main personal insight I'm going by is that Bitcoin provides a specific, useful service that mainstream currencies do not provide and as popular as it has become, there is a vast user-base still waiting to be tapped. I think service-providing websites will become more user-friendly (demand side) in the next year or so, which will encourage bitcoin use. So, I'm just going to wait it out patiently. Maybe I'm wrong, but I'm not spending enough to be worried, just interested for technological and sociological reasons.
Bitcoin is supposed to be a currency not a store of value. Unless I missed something. It is actually quite useful so I disagree with some in the MSM who say it has no intrinsic value but it does fall down on a few points. I read (I think someone on here) saying that its intrinsic value is how useful it is in transactions. If it wasnt for BTC I would not be able to purchase certain items so to me, very useful. However, the main thing for a currency to be is liquid and relatively stable. At the moment BTC is neither so is failing that test. Its not fair on vendors or buyers to be exposed to such great currency risk. All they want to do is sell a product for some profit and buyers to buy at a reasonable price. We do not want to be day traders of the currency which is effectively what is happening now. (And before anyone tells me if I only entirely used BTC this wouldnt be a problem ... well dont please.) |
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As I posted previously I think Mt Gox will have liquidity issues. If you can xfer BTC and use another exhange do it. I cashed out a few days ago but pretty sure that getting the fiat from Mt Gox is going to be near impossible or take a loooonnnnnngg time. Its a herd of elephants heading for the door scenario.
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