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888
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 14, 2015, 09:21:37 AM
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For the people lamenting how horrible the fall of the long term log trendline is, and how that's never happened before, here's a blast from the past (in two ways  ): A multi-year long term trend line break. No, it never happened before. Bro, do you even fractals? Edit: Actually, that trendline of mine is multi year too. 2 years. Mtgox trend line: End of 2010 - end of 2011. --> 1 year. Stamp trend line: End 2011 - beginning of 2015 --> 3 years I wouldn't talk about fractals for long term trend line, when the actual lenght matters. Yet the length doesn't matter. The underlying principle is the same. Let's agree to disagree. He doesn't seem to know the definition of a fractal. No dimensions matter. |
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889
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Economy / Speculation / Thank You Whalebears!
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on: January 14, 2015, 09:11:59 AM
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Dear Whalebears,
You have given so much. You have donated many cheap bitcoins to us poor Hodlers. I just wanted to start a thread to show my appreciation for you! In spite of having lost bitcoins due to scams, thefts, and bad security practices, you have helped us replace our losses, and for that you deserve our deepest thanks! On behalf of my fellow Hodlers, I hope we give you a warm feeling inside and I also hope that they join me in showing their appreciation as well!
In the spirit of hodling, I raise a glass to you fine Sirs!
HODL!
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892
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Economy / Speculation / Re: rpietila Calling the Bottom
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on: January 14, 2015, 06:27:07 AM
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Really? Could you please explain how those 100'000 people get more "freedom from oppresive governments" by using bitcoin? Is "freedom" just evading taxes, or buying illegal drugs, weapons, child porn -- or is there something else?
What a loaded question. Claim: in its 6 years of existence, bitcoin has caused 1000x more damage than benefits to the world.
The number may be exaggerated, but can you dispute it? If you add MtGOX and all the other bitcoin scams and thefts, add the use of bitcoin in financing crime, all the people who had their life ruined for believing in the fantastic price predictions or gambling in online casinos -- you will get easily a billion dollars of damages inflicted on mankind. Even if you subtract the cases of thieves stealing from other thieves, crooks scamming other crooks, and scumbags profiting at the expense of other scumbags, you are still left witha balance of hundreds of millions transferred from those who worked for that money to those who did nothing to deserve it, by the force of misleading claims and impossible promises.
Such hysterics. Any detrimental side of this Wild West is short term and can be tamed by technological advancement. This isn't some pie in the sky prediction. Stuff is getting solved. And what good has bitcoin brought to mankind? Savings of a few % in the purchases of trinkets from Newegg and Overstock?
A complete distortion. Bitcoin is mostly a Chinese thing now: they make the most ASICs, they have the most miners, their exchanges have most of the volume. But hwat has bitcoin done for human rights in China? Or in any part of the world? Perhaps bitcoin will one day make good on its promise to bring freedom and productivity. But so far its score is not good at all.
At least you give it some chance to do so. We must me making progress here. At least some of us appreciate your efforts and/or troll baiting.  |
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894
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Economy / Speculation / Re: rpietila Calling the Bottom
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on: January 14, 2015, 05:40:47 AM
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JorgeStoffli's arguments are textbook examples of Platonic dualism. Educators typically use these arguments because they are constrained to a curriculum and become inculcated with facts as presented by their textbook publishing firms. They are incapable of their own critical thought. Again, no disrespect intended, but he is typical of many bored tenured educators and venturing way outside his field of expertise and pretending to wield some authority. Add to that he has never offered any constructive criticism beyond his pass/fail mindset. In fact, he hasn't even mentioned that he has even thought about how cryptcurrencies will affect his field. That to me indicates he is just plain bored with his work and probably needs a hobby rather than obsess over something he has no interest in providing any meaningful contributions. As long as you keep quoting him, I'll see hist posts, but until he has anything interesting to say he will go back on ignore.
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896
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Economy / Speculation / Re: rpietila Calling the Bottom
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on: January 14, 2015, 04:19:51 AM
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It's like you're arbitrarily defining some kind of universal limitation on the success of Bitcoin because of, or due to the lack of, perfection in some quality that doesn't require perfection to function. (see the perfectionist fallacy: http://www.mhhe.com/mayfieldpub/ct/ch06/glossary.htm ) No, nothing that abstract. I belive that bitcoin cannot be more than a great technical experiment, because: You are such a dualist. |
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897
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 14, 2015, 03:01:54 AM
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What are [the "trolls"] gonna do with their lives if Bitcoin really does die?...
I don't think that bitcoin will die so soon. Bitcoin does not need to be worth more than 0.10$ to fullfill its purpose of a proof of concept, and will find plenty of volunteers to keep it running, even at that price. What may die is the economy that was built on top of it, that assumed it would replace national currencies replace paypal replace Western Union become the 'gold backing' for a multitude of better altcoins. Everyone will lose interest in this and every other public forum. The next crypto will be supported and premined by central banks. There will be nobody that cares about your trolling then. |
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898
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 14, 2015, 02:00:13 AM
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The good news is that the network distribution is well balanced.  Weeeelll, yes, all the top 4 companies would have to collude in order to launch a 51% attack (e.g. to take 100% of the rewards, by ignoring blocks mined by other miners and thus orphaning them). Which is very overt and public. They don't do that because it would only cause a temporary disruption and would end their businesses and all future profitability. |
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899
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Economy / Speculation / Re: This is not the end of bitcoin people.
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on: January 14, 2015, 01:43:52 AM
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It's a great entry moment for newbies like me i'm going to buy $1500 worth this week after my bank transfer clears. Bitcoin is becoming more popular & over the next few months the people who were hesitant to get involved because of the high price should have no fear buying at these low prices. Overall adoption will expand further from this drop and be good in the long run.
they are getting desperate, creating newbie accounts to fake a btc rush?  Says the brand new account who's first post is to slam Btc.... I see that too. They are likely the same person. |
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