I still believe that without naming specific companies, it may be a bit much to say "for many," but maybe the subject does NOT matter too much? I mean if we are talking about a practice that is abused, o.k., But I cannot recall if we were talking about any particular company? So maybe i am losing the train of this topic or what was the original point.
well, Snapchat is one. Turned down 3 billion in cash despite having never made a penny. WhatsApp has over 600 million users, at $30 person value thats 18 Billion market cap.
If Bitcoin had even 60 million users at $30 person value is only 1.8 Billion, so it seems over valued now?
This is the quote that started it^ |
|
|
|
Relax buddy
Can you be more specific? He was referring to your long post about how btc isn't a ponzi and how i was generalising when I also said right after that that I was NOT calling btc a ponzi. lol |
|
|
|
btw I wasn't calling btc a ponzi at all, I was referring to the venture capitalists and their stakes in zero revenue tech companies with high userbases.
I already responded to your other post, but I doubt this really clarifies... b/c you are still throwing out a whole bunch of generalizations. There are a lot of varieties, some of these guys have good intentions and some are scams.. buyer beware,no? It does clarify because you responded with the assumption I was talking about bitcoin, which i wasn't. For many the process isn't about building a profitable company. It's literally build a userbase, get some VC money, hire people, get a nice office, try and get more users for the next round of VC investment, the whole aim becomes VC money rather than ever having an income outside of that. That's pretty ponzi-ish |
|
|
|
Now, you seem to be talking your book... and once you buy back in, you will fix this kind of language, hopefully? It's a bit charged to be throwing out the "nearly a ponzi" language.... b/c that is nearly total BS.
There are a lot of overhyped, overvalued companies that get investment, and go for round after round of seed money, and often time the only purpose of an investment in a business is the hope they'll raise more funds later on and thus make their stake more valuable. If the only purpose is to increase income then I think that is nearly a ponzi, isn't it? For one thing: Bitcoin is NOT a company, and the infrastructure and the space of BTC is much too complex and too many people involved in order to be characterized as a ponzi scheme. Even if you attempt to suggest that the earliest 100 or 1000 adopters are trying to get rich off the rest of us b/c they are just trying to cash out and there is NO value in BTC or the infrastructure. Those kinds of characterizing would be totally misplaced. Now maybe some of the companies within bitcoin could be ponzi schemes and some of the alt coins could be ponzi schemes b/c they are small and tightly controlled and sometimes scams and schemes.... but Bitcoin is not the various companies or the related companies or even some of the corrupt and greedy people within the space. I just believe that you should know better than to engage in such loaded and inaccurate assertions regarding the nature of bitcoin, and you lose credibility when you employ such loaded and inaccurate language. On the other hand, there are a lot of reasons that you could argue that you believe the price of BTC is going to continue to go down, but arguing ponzi scheme (or "near" ponzi scheme) is way out there and only triggers emotions based on incorrect facts/characterizations rather than making a more accurate assessment. Anyhow you believe what you believe, and if you truly believe BTC is a ponzi scheme or a near ponzi scheme then you certainly will want to be careful about whether and/or how much to invest. Dude you totally missed my point i wasn't talking about bitcoin I was talking about tech startups with unmonetized user bases who go for round after round of seed money |
|
|
|
I spend 20% of my income partying and traveling for football games.
This is extremely wise |
|
|
|
now my Bitcoin can't buy a Laptop!
You can get a chromebook or cheap laptop for $300 |
|
|
|
|
btw I wasn't calling btc a ponzi at all, I was referring to the venture capitalists and their stakes in zero revenue tech companies with high userbases.
|
|
|
|
Now, you seem to be talking your book... and once you buy back in, you will fix this kind of language, hopefully? It's a bit charged to be throwing out the "nearly a ponzi" language.... b/c that is nearly total BS.
There are a lot of overhyped, overvalued companies that get investment, and go for round after round of seed money, and often time the only purpose of an investment in a business is the hope they'll raise more funds later on and thus make their stake more valuable. If the only purpose is to increase income then I think that is nearly a ponzi, isn't it? |
|
|
|
I still don't really feel like we've had blood in the streets.
No one posted a suicide hotline on r/bitcoin yet
In other words, you are still holding out concerning when you are going to buy back in. You may want to be safe and buy back part, so that you are NOT gambling all of your stash.. but I have my doubts if prices are going lower than they did yesterday, any time in the near future.... though anything seems possible in bitcoinlandia. My income is entirely in btc. I did sell 60 this month at $380 but technically i'm buying in on a daily basis, to the tune of around $500-600 I have $20k that I haven't bought back in with yet. I'm actually more comfortable with the amount I have in btc right now (around 40 currently) so I can only assume I was overinvested, as I was far too emotional about it. I'll keep "buying back in" via my income in btc, but I think I'll put the $20k into a nice mutual fund or ETF |
|
|
|
WhatsApp has over 600 million users, at $30 person value thats 18 Billion market cap.
If Bitcoin had even 60 million users at $30 person value is only 1.8 Billion, so it seems over valued now?
are you being silly... 60 million people using bitcoin atm would mean almost no1 having a single coin... depending on distribution but really a terrible comparison Just comparing the users of whatsapp are worth money to advertisers. The users for bitcoin must increase from its current base to spread to survive. Then comes the problem will value increase? and why? because of limited availability like a commodity? which is opposite of what it was intended to be a medium for transactions with lower fees. In the end I think btc needs to be pegged to some definite value to be worth anything. Other than that the Fed is correct that it can only be a "storage" mechanism. We're currently in a bubble for "users" though. Companies with millions of users are bought up, with absolutely no idea how to monetize them. Snapchat anyone? Value in the billions, absolutely ZERO revenue. A lot of these companies are just VCs and investors playing hot potato, I invest $25m in the hope that somewhere further down the road a bigger fool will inject $250m and my stake is worth more than I paid. It's nearly a ponzi |
|
|
|
|
I still don't really feel like we've had blood in the streets.
No one posted a suicide hotline on r/bitcoin yet
|
|
|
|
Hello,
for some reason when I try to withdraw BTC I get "Waiting to be processed" for hours. Is there maintenance going on or something?
Thanks
No, bitstamp is just a shitty service |
|
|
|
|
Can you PM me your LBC profile please
|
|
|
|
|
is there blood in the streets yet? when do I buy?
it doesn't smell like desperation yet
|
|
|
|
since 800$ I'm telling bitcoin is the past and the it will crash. Ripple is signing several huge bank soon and you stil don't understand that the value web won't be bitcoin.
ya i can't wait til they give 80 billion ripple away for free, then to the moon right? right? how's that gonna work? |
|
|
|
Most important thing:
Will Silkroad switch to another coin if Bitcoin goes to 0$? Will it be Doge?
why would bitcoin goes to 0$??? You dear sir is right! It won't or shant go that low. The only (killer) argument to buy bitcon is to buy drugs. So it shall stabilise around $10 like it was for so long (the only true demand). But then again I could be wrong.. According to Adam Africa is buying BTC. We might indeed see $10k soon. Yeah! And because in Africa they nearly don't have smartphones or internet they will use the rockchain  Wait until they dump "all" their fiat to buy bitcoin.  Jokes aside, Africa needs lot of development before they can consider buying or using bitcoin. Now it is only for lucky people with internet access. Nah, you'd be surprised at the level of internet access in Africa, my somalian friend has been tryin to figure out a way to utilise btc to help his remittance business. This is somalia, third world, war torn shithole, and most people receive their remittances in USD to their smart phone. |
|
|
|
|
Actually glad I sold now.
I sold majority of my stash at $380, figured the downtrend would continue.
Just waitin til I feel right and i'll buy back in
|
|
|
|
I have some bitcoins I'd like to secure. Currently in paper wallets, but I'd like to set up a multi sig wallet.
What is the easiest & safest method to do this?
Thanks
What do you mean what is the method to do this? Go to BitGo or Armory, set up your wallets and send your coins there. I only use multibit and electrum, neither of which support multisig, so I was asking how to do it. I appreciate the help, but could you expand a tiny bit more? How do I do this with Armory? Is there an offline way to do this, as I'm not sure I trust a site like bitgo. I'll have to look at it more indepth |
|
|
|
Wait, hasn't this happened recently.
Price drops 5%. Everyone panics, shits their pants, it's the final capitulation, it's over. Oh noes.
Price stabilizes, rises a couple percent, everyones like wow this is over. TO DA MOON.
Price drops another 5%. Everyone panics, shits their pants, it's the final capitulation, it's over. Oh noes.
Price stabilizes, rises a couple percent, everyones like wow this is over. TO DA MOON.
Price drops another 5%. Everyone panics, shits their pants, it's the final capitulation, it's over. Oh noes.
Price stabilizes, rises a couple percent, everyones like wow this is over. TO DA MOON.
but the price is still dropping overall.
That is essentially the exact definition of a shakeout. Price falls, small recovery, price falls more, rinse and repeat until the whale thinks he has made all the weak hands sell their coins off. Then places massive buy orders to make the cheap buys and lets the market build the price up again. The question is when will the shakeout end |
|
|
|
|
Show Posts
