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61  Economy / Economics / Re: Economic Idiocy on: December 26, 2013, 01:45:41 AM
...
 Bitcoins are perfect example of a thing called Giffen good where as the price raises the demand gets higher and as price drops so does the demand. That's a thing that doesnt follow normal rules in economy and that is why economists dont agree that Giffen goods exist.
...

Bitcoin is a currency -- money.  Not goods.

Yes, the more money is worth, the more people want it.  All money, not just bitcoin.  Price of goods rising is the exact opposite of the price of currency rising.  That's why it helps to know a bit about economics.

Money in fact is a good that is used in transactions.. In economics good is describes something that satisfy human need, that needs to be obtained only difference is that bitcoins are intangible goods, like information... Bitcoins are goods in that way since atm they satisfy our need and greed, same as everything else before invention on money as a payment for a good. In the time when people used to trade items. So now you trade bitcoins for money or you use it to by something else.

So yes it helps to know a bit about economics....
62  Economy / Economics / Re: Economic Idiocy on: December 26, 2013, 01:06:13 AM
One of the reasons a lot of people on these forums don't care about economic theory is because it doesn't work.

Like everything to do with money once someone figures how to manipulate the system, the system stops working and ends up being something it was never intended to be.

The beauty of bitcoin is that once someone starts to manipulate it and it stops working right, people can simply abandon it for a different altcoin of some kind.

It's that simple...conventional economic theory is so yesterday.
Brilliant, yet another person who doesn't understand simple economics at all ("economic theory...doesn't work"), then states an ignorant conclusion without any support whatsoever.

Economics works regardless of the monetary system because it is how human beings live their lives, whether they are conscious of it or not. Every single decision, no matter how small, no matter how many each day, is made using cost/benefit analysis. You state that "it doesn't work", might I ask why you believe such a thing?

It's that simple...cost/benefit analysis is so every day.

Economy works in a modern life to some degree. It looks on system of production and trade and a need to satisfy the needs of millions. In a modern way it does work as I said, but economy is in the eye of beholder. Bitcoins are perfect example of a thing called Giffen good where as the price raises the demand gets higher and as price drops so does the demand. That's a thing that doesnt follow normal rules in economy and that is why economists dont agree that Giffen goods exist.

You can't apply rules you find in economy to everything in a real life. That is the reason what one day you can be worth billions and the next day lose everything.
63  Economy / Economics / Re: Economic Idiocy on: December 25, 2013, 12:36:47 PM
You don't need to know anything about economics to make money... With bitcoins many who made lots of money had luck. I know few friends who got into it just because someone told them it is funny and that some day it might be worth a lot. Some of them now have 2000-3000BTC
And also most of you I hope knows that money is like IOU, nothing else. It is a paper that is telling me/you how much we owe for something....
64  Bitcoin / Bitcoin Discussion / Re: Has it gotten better for you? on: December 23, 2013, 12:47:05 PM
I don't panic. I don't see the reason to do that. I invested some amount that I more then quadruple.
65  Economy / Goods / Re: Selling 110 sq.m. apartment for bitcoins on: December 21, 2013, 09:07:14 PM
Wow, do you have anyone interested?
66  Bitcoin / Bitcoin Discussion / Re: (Group-Buy) Small Country in Europe or sealand on: December 18, 2013, 06:14:16 PM
Il pass Smiley
67  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin support a country? on: December 14, 2013, 05:21:20 PM
Don't think so. Too much of a hassle.
68  Bitcoin / Bitcoin Discussion / Re: If confirmation takes 10 minutes, how will I buy coffee at Starbucks? on: December 12, 2013, 03:45:17 PM
I drink normal coffee not some flavored and such so i wouldnt chose starbucks, but assuming i sit and order coffee at 12:15 and i wanna pay with BTC i would pay as soon as i get my coffee, that way even if the confirmation is longer it wouldnt effect my time....
69  Bitcoin / Bitcoin Discussion / Re: In your old age what will you tell your grandkids about Bitcoin? on: December 09, 2013, 01:23:28 AM
I don't think I will reach old age...
70  Bitcoin / Bitcoin Discussion / Re: Lambo for BTC, what dealership is this?? on: December 05, 2013, 08:19:40 PM
Oh nice, I can buy it now Smiley
71  Bitcoin / Bitcoin Discussion / Re: Help on: December 03, 2013, 05:24:42 PM
If you are using Kaspersky Anti-Virus, then you can use the virtual keyboard in it to type anything without worrying about the key-loggers.

I am 100% sure that is not 100% safe Smiley
72  Bitcoin / Bitcoin Discussion / Re: What would you do "when" bitcoin hits 10,000......... on: November 30, 2013, 12:32:06 PM
Sorry guys, if it hits $10k/btc I'm cashing out my $200k usd and buying an ashotn martin or ferrari. That's the only reason i'm in this game  

And when you take it to mechanic after 1st year you will sell your kidney to pay for bills....

Nothing. Same as I am doing now.
73  Economy / Speculation / Re: Bitcoin will break $1000 USD today on: November 27, 2013, 02:51:44 PM
With this price you can make few K each day if you are wiling to risk it, well depending how much bitcoins you have. Buy low, sell high....
74  Bitcoin / Bitcoin Discussion / Re: Lmao @ people buying subway and etc w/ BTC!!! on: November 27, 2013, 12:24:15 PM
Are you f***ing serious?? lol.... You do realize that in a year or two, that BTC you just spent is gonna be worth a lot more... congratulations, you just bought a sandwich for $300 LOL!! These stores are smart to accept bitcoins and store as much as they can early on

Are you kidding me? Do you know anything about economy? Do you think bitcoin would have this insane price if no one would trade them?
75  Bitcoin / Bitcoin Discussion / Re: 194,993 BTC transaction on: November 23, 2013, 01:25:57 PM
I made a post but didn't see it was there already Sad

Also I looked a bit and noticed that someone also moved about 100,000 today
https://blockchain.info/address/13f6vcKNGZxp6xegD3e5vNYvHHPMSk7mxj
76  Bitcoin / Bitcoin Discussion / Re: Someone moving a lot of bitcoins ( about 200.000 ) ?!? on: November 23, 2013, 01:20:05 PM
Ups sorry, didnt know it is a repost ;(
77  Bitcoin / Bitcoin Discussion / Someone moving a lot of bitcoins ( about 200.000 ) ?!? on: November 23, 2013, 01:00:01 PM
I just found a bitcoin address and followed it on blockchain
https://blockchain.info/address/12sENwECeRSmTeDwyLNqwh47JistZqFmW8

Followed it and got to
https://blockchain.info/address/1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew
and
https://blockchain.info/address/13f6vcKNGZxp6xegD3e5vNYvHHPMSk7mxj  where someone moved 100.000

Who is that person Smiley

78  Economy / Economics / Re: Is it the end of BTC??? on: November 20, 2013, 04:54:26 PM
Any value that brings you profit is a good value. So even if its 50$ and you still earn money the price is OK. If you are sitting on 100k and you didn't sold for 750$ then that is your decision, just don't be crying if the price drops and never goes as high as that....
79  Bitcoin / Bitcoin Discussion / Re: Your Bitcoin Endgame on: November 20, 2013, 04:49:54 PM
I will sell the rest of bitcoins I have for some amount of money. I always try to keep certain amount for trade and "manipulating" market, the rest is converted into cash and spent/saved...
80  Other / Politics & Society / Re: Petition to stop minecraft server. on: November 20, 2013, 02:02:32 PM
Ok can explain why should we do it, rather then giving link to petition and asking us to sign if we wish....
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