Erm why are we discussing drugs here ? Is BTCchina selling drugs now  For some reason people like to use drugs and prohibition to support an argument that the btc economy will retain the same strength even if bitcoin is banned by governments. I think drugs/prohibition and bitcoin usage is a loose and exaggerated relationship in that regard. So do I. Financial freedom is far, far more important than using recreational drugs. I think it might be difficult to enjoy this financial "freedom" when you're behind bars. Try to think about the mindset of the types of Chinese traders and investors we have been seeing - the ones really moving the price who are buying up 1,000 - 10,000btc a time. He is already rich and has millions. Now he wants to find a way to increase the size of his portfolio with an investment. He sees something called 'bitcoin' which is getting very popular, has historically done very well, and seems to have good fundamentals. It has risks also but this is outweighed by the hefty rewards. So he engages because he expects that he'll probably increase his portfolio and also the worst that can happen is that he loses some. Now things have changed. Let's say the Chinese government has actually banned bitcoin. First off it's going to more difficult for the Chinese man to get his money in - he is going to need to go through some underground channel, where is at risk of a total loss. Then once he is in bitcoin the movement is going to be a bit weaker and the fundamentals slightly less because governments are banning bitcoin. He is now in a market where the midterm trend has been down and prone to crashing. Then in order to withdraw money he is going to need to go through another undeground source where he risks total loss. During all of these steps, he is also at risk of being discovered and arrested by his government. So now an investment that was once medium risk high reward is now ultra-high risk and medium reward. There are mutliple vectors in which he can make a total loss of his money, and the worst that can happen is no longer that he loses some money but that he ends up behind bars! Now is it really worth it for the Chinese man to continue on with this type of investment? He is already rich, and was simply looking for a way to increase his portfolio. Now Bitcoin is no longer easy to do and has a chance to land him behind bars. Even is he became successful he would have to live a life of secrecy about how he did it. He was probably never interested in being a criminal. It's a completely different situation than before. Is it really worth it to take the risk of being behind bars to continue with this avenue of investment just to increase his portolio? I don't think so. I think he'd rather just move on to one of the other investment opportinities he was looking at which might have somewhat less returns but much less risk. Freedom isn't free. Sometimes you have to fight for it. Perhaps others think differently than I do, but the genie is out of the bottle with Bitcoin and I, personally, won't give up the power it provides to the individual. You seem to think the only reason to be involved with Bitcoin is as an investment opportunity. That's simply an unintended (although necessary) consequence in my book. No what I think is that the majority of chinese investors saw it as an investment opportunity. I don't that over the course of a few months there were all the sudden all these die-hard bitcoin enthusiasts in China who had learned all about the technicalities of bitcoin and bitcoin idealism overnight. It would seem like they need it more than most. I really have no idea though. |
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Did i miss something? Whats up with a 1k sell at bearstamp?
I don't see it. |
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Fairly big dump of BTC-e, other exchanges are slowly starting to follow... right into the panda bear trap. crashing like a china in a bull shop.
BTC-e BTC/USD correlates better with BTC-e LTC/USD than other BTC markets! We will see if Stamp follows or not. |
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Erm why are we discussing drugs here ? Is BTCchina selling drugs now For some reason people like to use drugs and prohibition to support an argument that the btc economy will retain the same strength even if bitcoin is banned by governments. I think drugs/prohibition and bitcoin usage is a loose and exaggerated relationship in that regard. So do I. Financial freedom is far, far more important than using recreational drugs. I think it might be difficult to enjoy this financial "freedom" when you're behind bars. Try to think about the mindset of the types of Chinese traders and investors we have been seeing - the ones really moving the price who are buying up 1,000 - 10,000btc a time. He is already rich and has millions. Now he wants to find a way to increase the size of his portfolio with an investment. He sees something called 'bitcoin' which is getting very popular, has historically done very well, and seems to have good fundamentals. It has risks also but this is outweighed by the hefty rewards. So he engages because he expects that he'll probably increase his portfolio and also the worst that can happen is that he loses some. Now things have changed. Let's say the Chinese government has actually banned bitcoin. First off it's going to more difficult for the Chinese man to get his money in - he is going to need to go through some underground channel, where is at risk of a total loss. Then once he is in bitcoin the movement is going to be a bit weaker and the fundamentals slightly less because governments are banning bitcoin. He is now in a market where the midterm trend has been down and prone to crashing. Then in order to withdraw money he is going to need to go through another undeground source where he risks total loss. During all of these steps, he is also at risk of being discovered and arrested by his government. So now an investment that was once medium risk high reward is now ultra-high risk and medium reward. There are mutliple vectors in which he can make a total loss of his money, and the worst that can happen is no longer that he loses some money but that he ends up behind bars! Now is it really worth it for the Chinese man to continue on with this type of investment? He is already rich, and was simply looking for a way to increase his portfolio. Now Bitcoin is no longer easy to do and has a chance to land him behind bars. Even is he became successful he would have to live a life of secrecy about how he did it. He was probably never interested in being a criminal. It's a completely different situation than before. Is it really worth it to take the risk of being behind bars to continue with this avenue of investment just to increase his portolio? I don't think so. I think he'd rather just move on to one of the other investment opportinities he was looking at which might have somewhat less returns but much less risk. Freedom isn't free. Sometimes you have to fight for it. Perhaps others think differently than I do, but the genie is out of the bottle with Bitcoin and I, personally, won't give up the power it provides to the individual. You seem to think the only reason to be involved with Bitcoin is as an investment opportunity. That's simply an unintended (although necessary) consequence in my book. |
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This is what we(in the I.T. business) refer as to as a error 4.
The error is roughly 4 inches in front of the screen.
An old saying "A fool and his money are soon parted."
ID 10 T error. PEBKAC |
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Erm why are we discussing drugs here ? Is BTCchina selling drugs now For some reason people like to use drugs and prohibition to support an argument that the btc economy will retain the same strength even if bitcoin is banned by governments. I think drugs/prohibition and bitcoin usage is a loose and exaggerated relationship in that regard. So do I. Financial freedom is far, far more important than using recreational drugs. |
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Yuck why would you want China back? China is like a poison for Bitcoin. Too many people are excited over this.
Everyone deserves financial freedom. |
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They all lost their hard drives or passwords.  It was a tragic boating accident. |
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Have you drained the tank lately to remove built up sediment? It might not fix the problem, but it couldn't hurt.
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think they are living in New York or Paris have a very good times  Except you just picked two of the shittiest places on Earth... |
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I think your question is so broad that you are going to get a lot of different answers.
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fonzie do you short BTC if so at what price? Else if you got 0 btc why are you here again?
He wants to protect those involved with Bitcoin, especially those who hold bitcoins. He is a humanitarian. |
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Because the vulnerability centralisation of mining creates has been solved by POS crypto-currencies.
Except for first mover advantage Bitcoin is already worthless/obsolete.
Proof of Stake coins have been around long enough that if what you are saying is true, the market would already reflect this. Well... it doesn't. |
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Btw whatīs way scarier than the possible china ban is MTGox. It seems that their problems are gettin even worse.
A lot of the people havenīt heard from the support in the last 3/4 days.
Almost 30000BTC are stuck/lost in tx....
Anyone who was around when Gox was 80%+ of the exchange volume, and they were hacked, and they caused a flash crash, and they shut down for a couple weeks, is certainly not concerned about the ramifications of total Gox failure in today's market... But if you think it's scary, well... maybe we should take it more seriously! Edit: Oh wait, why are you scared again? 50% doge 50% ripple 0% Bitcoin  Oh... you are scared for us. Well thank you very much. Now I don't have to be scared knowing that you have it all taken care of! |
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for anyone who takes offense to someone jumping into this to make a quick buck, I'm sure you're not holding on to any coins at all?
The point is, if you want to continue to use your hardware investment to make a quick buck in the future, you might want to consider the health of the network which is paying the bills. Perhaps even, if the network was in a healthier state, there may be more investor confidence, and you could be earning even more today. But, by all means, do as little as you can to earn a quick buck today with no regard for tomorrow. |
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"It has to walk and talk like bankers".
Yes he said it. (An Ex Federal Reserve employee)
Just like email has to walk and talk like a post office. This video will come back to haunt that guy. unfucking believable. No, it's exactly what I expect from established bankers banksters. Their days are numbered... Adapt or die. Dinosaurs go extinct. It's what they do! |
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So why are you all so angry. I thought your main intention is that BTC will be used as a curreny. What is your problem if the Bitcoin price would 1$ or 50$. Why does it have to be Bitcoin and not another cryptocurrnecy? I thought itīs all bout the protocol and itīs possibilities. Maybe Google will use the Protocol, so what. In the end you would have won. (Of course not if you hodl Bitcoin  ) Who is angry?  Quite a lot in here it seems :-D Well... I'm not. Regulators gunna regulate. This is why I use Bitcoin.  That Chairman was loving Bitcoin, btw. |
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So why are you all so angry. I thought your main intention is that BTC will be used as a curreny. What is your problem if the Bitcoin price would 1$ or 50$. Why does it have to be Bitcoin and not another cryptocurrnecy? I thought itīs all bout the protocol and itīs possibilities. Maybe Google will use the Protocol, so what. In the end you would have won. (Of course not if you hodl Bitcoin ) Who is angry? |
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