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81  Alternate cryptocurrencies / Altcoin Discussion / Re: Warning to Litecoin investors on: July 06, 2013, 11:23:28 PM
As long as there's fontas, Im sure litecoin will remain high.

Maybe it should be renamed "fontas coin"
82  Economy / Speculation / Re: Thank you to all the Terrified BTC Sellers! on: July 06, 2013, 07:14:14 PM
Someone please move this drivel to speculation..
83  Economy / Speculation / Re: The reason BTC is dropping in price. on: July 06, 2013, 12:18:06 PM

Btw, I expect the same thing to happen soon in the stock, bond and most other financial markets - when people realize how crazy the politicians and central bankers are, and that practically every financial market is in a bubble.


Well if sheeple like you think that then it's probably not going to happen LOL


Most people think that it won't happen. I cant find a single person I know who thinks that we are looking at a big deflation in the financial markets soon. Most people seem to think there is some kind of "recovery" going on.
84  Bitcoin / Bitcoin Discussion / Re: Mailchimp is unfriendly to bitcoin on: July 05, 2013, 09:50:06 PM
How sad this is happening. I recommend everybody stop using mailchimp or any related service and run your own mailing list on your own VPS.

Let them censure that!!
85  Economy / Speculation / Re: The reason BTC is dropping in price. on: July 05, 2013, 08:31:17 PM
Its bubble deflation. Speculators are getting flushed out.

Get ready for $30 Cheesy

Btw, I expect the same thing to happen soon in the stock, bond and most other financial markets - when people realize how crazy the politicians and central bankers are, and that practically every financial market is in a bubble.

Watch from the current BTC collapse and learn. It's called "bubble deflation". This type of collapse, currently affecting bitcoin, is coming to all other financial markets soon
86  Bitcoin / Development & Technical Discussion / Re: A bitcoin blockchain parser in a few hundred lines of C++ on: July 05, 2013, 07:07:33 PM
This is pretty cool! Thanks for doing this. I'll check it out over the weekend.
87  Economy / Speculation / Re: BTC $66, seems everyone is dumping? on: July 05, 2013, 07:02:29 PM
Oh dear. Bitcoin is dead
88  Bitcoin / Bitcoin Discussion / Re: Once again, what about the scalability issue? on: July 05, 2013, 10:17:15 AM
Yes this is the number 1 issue with bitcoin

No it hasn't been solved

All posts about SPV can be ignored; the idea of SPV is fundamentally flawed

Right now bitcoin remains unscalable, this issue still hasn't been solved

As a side note, just because a developer is well known and established in the community, it doesnt mean everything he says is correct. The only proven genius behind bitcoin is Satoshi, who created it, and he left the project long ago.

Yes what Im saying is controversial. I've been saying the same thing for months now. Anyway, deal with it.
89  Economy / Speculation / Re: The LTC effect on BTC on: July 04, 2013, 06:38:27 PM
Is this thread part of the LTC "IPO" or, in other words, massive litecoin pump and dump scheme?

Stay clear of litecoin unless you want to get seriously burnt. There is some big market manipulation going on there.
90  Economy / Speculation / Re: Things are happening behind closed doors, very important for Bitcoin things. on: July 04, 2013, 03:31:17 AM
Well sir, the arrow of time tells us many things, amongst them:  "Slaves Shall Serve"
Let's try to be fairer to them in this more intellectual and airy Age of Aquarius, to differentiate from the Age of Aries, when spoken language was relatively new and anyone that could bark commands was looked upon as a god.
Let's be even different than the most recent (and rapidly fading -- Murdoch?) world masters of the Age of Pisces -- those that pretended to care, but impotent and ignorant in technology were not able to manifest such benevolence, no matter how honestly wished for.
The masters of this new age will have in their grasp the technology to FULLY master the environment of the slaves, and hopefully their ignorance will truly be bliss.
"It takes all kinds"

Please translate to English?
91  Economy / Speculation / Re: Things are happening behind closed doors, very important for Bitcoin things. on: July 04, 2013, 03:20:03 AM
So why is the price not going up like crazy because of this???  Are people just clueless?  I would buy more if I could right now!

Market is irrational

Traders are irrational

People trade on their emotions

Bubble deflating

Somebody manipulating the market

Also, let's be honest; this announcement doesnt remove the risk involved with bitcoin. If regulations are changed between now and when the ETF is launched, well this announcement really won't mean anything. 18 months is a long time in bitcoin world.
92  Economy / Speculation / Re: Things are happening behind closed doors, very important for Bitcoin things. on: July 04, 2013, 01:45:46 AM
LOL


So Vladimir, you are friends with Winklevii?
93  Other / Beginners & Help / Re: Bitcoin is Dead on: July 04, 2013, 01:39:10 AM
I agree that bitcoin will have to move away from P2P. Although I disagree with the OP's reasons for it - because of ASIC... I think it will be because of the blockchain size.

Anyway.

The point about bitcoin is anyone can set up a miner, anywhere (providing they can afford it). What I mean is, they can be totally 100% anonymous and do not require any government control or authorization. This is different to the existing banking system. Also, as long as the network doesnt depend on 1 miner, it's all cool.

What this means is that the network can & will always be supported by 1 or more parties, even if governments turn hostile to it. It's like tor...

So, I do not support OPs claims bitcoin is dead. Infact, I think its more alive than ever..
94  Economy / Service Discussion / Re: Here's how the Gox debacle plays out over the next few days on: July 04, 2013, 12:55:09 AM
+1.


I also think that the whole LTC in July announcement was meant to create a distraction to take the attention off of the freezing of USD withdrawals.


What are the exchanges that you deal with?
I know people hate the fees, but Coinbase is pretty solid. I've done quite a bit of business with them (seriously, A LOT of business) and they've never let me down. If you can get an account with them (and that's a big IF) Tradehill has also treated me right. I have a good account manager there and they have never failed to send me a bank wire on time.


What's going on with Tradehill? Seems the site has been down now for a while. (last price: $100)

I'm also looking for an alternative exchange to MtGox..
95  Economy / Speculation / Re: I predict BTC/USD will fall to $2 by December 31, 2013 on: July 04, 2013, 12:52:33 AM
Its nice to finally see someone that isn't doing drugs, and think that we're going to hit $1k or $1M.


+1



Probably even lower than that.
Overall, my outlook is bearish these days. The price will fall for a while - I've accepted it.

But every time I see people talking about the price falling below $2/coin, I wonder what's going on inside their brains.

Compare today's world to the world of late 2011. The USD/BTC rate had only spiked once, followed by a long and depressing bear-market, and there was a good chance that over-$10/coin was a one-time thing, an accident never to come again. Other than Silk Road, there was very little you could do with BTC.

In that world, in a world where a good argument could be made that Bitcoin was on its way out, the exchange rate tested $2/coin in enormous volume, and $2/coin proved itself sound.

If $2/coin was an impenetrable wall of value-confidence back then, what on earth could break that value-confidence today, in a world where high BTC prices have come twice ("and why not again?"), in a world where there are institutional investors dipping their toes into the market, in a world where you can buy food and shelter with your bitcoins?

I'm bearish, sure. It's my guess (granted, one that I refuse to trust, or else I'd be shorting like mad) that the bottom will be somewhere in the $11-30 range, which is way lower than what we have today. But barring something that shatters the Bitcoin network itself, I do not think that we will see $1.95/coin again.

+1


96  Economy / Speculation / Re: Bitcoin will reach $10 on: July 04, 2013, 12:28:17 AM
Hi guys, I have been predicting this 'deflation' in the bitcoin price for a while now. I recommend people *not to sell* , but equally not to buy (as it will go lower). The target for bitcoin now is $30. I don't believe it will go to $10.

So why would you recommend people don't sell ?

Surely the best thing to do is sell it all and buy back cheaper if it's going to continue doing down.

Because its not totally clear it will go down. It may well go up again in the future. Certainly its not a great time to sell when other people are selling.

Mind you, I have been saying for a while (since the crash in April actually), there is no reason for the price to go up and that it would only go down from there in the short term. (from $120 where it was recently trading)

However, bitcoin is now in the public consciousness. It is not going away at this stage - without a change to the technical fundamentals. I think talk of a deflation down to $10 are ridiculous. Therefore I would advise to hold right now.

If you are so desperate to sell, at least wait until the price starts going up again before selling (it will at some point).
97  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: July 03, 2013, 11:50:12 PM
Now that bitcoin's collapsing, where is Cypherdoc to bump up his own posts?Huh
98  Economy / Speculation / Re: Bitcoin will reach $10 on: July 03, 2013, 04:13:39 PM
Hi guys, I have been predicting this 'deflation' in the bitcoin price for a while now. I recommend people *not to sell* , but equally not to buy (as it will go lower). The target for bitcoin now is $30. I don't believe it will go to $10.
99  Economy / Economics / Re: The end is near on: July 01, 2013, 09:59:59 PM
Wow.. I kind've wish this thread would disappear.

Although I still feel very bad about the economy

Memo to avoid creating any similar threads

I would just post this for any similar Austrian economists, who haven't already heard it before. Or anybody who's just reading this from top to bottom. It gives you something to think about.

The owner of a ship noticed that his ship was filling with water. Being an educated man (if not nautically trained) he knew there were many possible causes for water in a ship: leaks in the hull, the bilge pump being broken, waves washing over, condensation, and even the crew urinating in the hold. He heard the bilge pump running, he saw water from waves pouring in the open hatches, but worst of all he smelled urine in the hold! Being sensible, he ordered the crew to shut the hatches and then gave them a lengthy, stern harangue on hygienic use of the head. While he was lecturing the crew, his ship sank due to a combination of causes: large, unobserved leaks in the hull, a bilge pump that was running but not pumping correctly, and condensation that had shorted out warning circuitry.

http://critiquesoflibertarianism.blogspot.co.uk/2009/05/parable-of-ship-why-austrian-economics.html

Personally I reject this in the current economic situation..... but, things may just be more complicated than we all realize.

You need to be aware of the people around you. Assassins can be kind, stupid can appear smart, honest can appear to be lying and friends could be foes. It is always an mistake to assume you know the people around you without ever having questioned them. But honestly when you open up with "perhaps I am preaching to the choir" you set yourself up for a rude awakening.

Sorry, Im not sure I understand what you're saying.

To be clear, I still believe things are in a very very big mess. I reject this situation above.

I didn't assume knowing anybody? Infact, I posted because I wanted to see if anybody held the same views.

I believe we could be , as Peter Schiff says, in the "eye of the storm". Things are not getting better in the economy, it seems to be the opposite. It's just a matter of time before people realize.

Having said that, the disclaimer above sort of says that I am not a professional economist, I do not spend hours looking at all the different facts and statistics. I am not qualified in economics and I have not experience working at a hedge fund or government department, although I do follow the news closely. I have worked in investment banking for a while, but I currently do not work as a market professional. Therefore I would be classed as an amateur speculator. Despite this, I believe that sometimes one can just use intuition and boldness to be right when other people are wrong. Technical analysis isn't everything. Sometimes the facts really are obvious. I believe now is one of those situations..
100  Economy / Economics / Re: The end is near on: June 30, 2013, 01:29:38 AM
Wow.. I kind've wish this thread would disappear.

Although I still feel very bad about the economy

Memo to avoid creating any similar threads

I would just post this for any similar Austrian economists, who haven't already heard it before. Or anybody who's just reading this from top to bottom. It gives you something to think about.

The owner of a ship noticed that his ship was filling with water. Being an educated man (if not nautically trained) he knew there were many possible causes for water in a ship: leaks in the hull, the bilge pump being broken, waves washing over, condensation, and even the crew urinating in the hold. He heard the bilge pump running, he saw water from waves pouring in the open hatches, but worst of all he smelled urine in the hold! Being sensible, he ordered the crew to shut the hatches and then gave them a lengthy, stern harangue on hygienic use of the head. While he was lecturing the crew, his ship sank due to a combination of causes: large, unobserved leaks in the hull, a bilge pump that was running but not pumping correctly, and condensation that had shorted out warning circuitry.

http://critiquesoflibertarianism.blogspot.co.uk/2009/05/parable-of-ship-why-austrian-economics.html

Personally I reject this in the current economic situation..... but, things may just be more complicated than we all realize.
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