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583
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 28, 2014, 10:31:24 AM
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Mervyn, Are you saying bitcoin doesn't create wealth?
Yes, exactly! Bitcoin doesn't even aim to create wealth. It aims to store and transfer wealth, but because of it's overly simplistic financial properties, it fails to succeed in it's goals. Without a mechanism to keep stable unit value, bitcoin is a gimmick of an currency, that is more of an innovative gambling platform, then a serious financial tool. Why do you bother with it then? |
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593
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Bitcoin / Bitcoin Discussion / Re: Has anything ever outperformed bitcoin returns?
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on: June 24, 2014, 08:13:58 PM
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governments get oil for free by shooting iraqi's, and sell tanker trucks of the stuff for thousands surgeons do operations on people for the cost of 2 scalpals, a bunch of sutures. and receive a $10k per operation bill payment companies bottle water, where the main cost is a couple cents for the plastic bottle. and sell it for a couple dollars jokes aside.. a red paper clip bartered its way to buy a house http://en.wikipedia.org/wiki/One_red_paperclipSurgeons had invested hundred of thousands on education and they operate in hospitals that cost tens of millions to build and they operate with medical robots that costs as high as millions so I would say it's a preety big investment before you can actually operate someone. They have 6 and 7 figure insurance policies as well. |
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595
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Economy / Speculation / Re: A Single Bitcoin will Worth $100K - Do You Believe it?
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on: June 24, 2014, 08:44:12 AM
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Someone gives me a commodity investment with really good fundamentals (well as of today in 2014 at least) and tells me that due these fundmanentals ,a destiny has been obtained. That's it. I don't have to do anything. The investment doesn't have to do anything (except reach more users). No real effort has to be imparted at all by myself or bitcoin.
How is this different to the situation with gold? |
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599
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Economy / Speculation / Re: I AM HODLING
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on: June 21, 2014, 09:39:20 AM
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lol. my job is boring me to death.. but darn what would one do if not work..
Wonder how you ever found time for it.  |
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600
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 21, 2014, 08:05:34 AM
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The chances of them dumping it all immediately are the same as Ghash using their occasional 51% to attack us.
Why would someone heavily invested in bitcoin make a concerted effort to destroy it?
Who said anything about destroying bitcoin? It would just be a trade, and once the trade is complete they wouldn't be invested anymore. However, I don't see anyone doing this unless they can buy at least 30% below market rates. In my opinion they sure WILL be able to buy it atleast 10-20% under these market rates, wich means anybody that would sell it would still get almost instant profit of 10-20% it just trully depends on the buyer and we can only hope. That's only a theoretical profit. You have to account for all the risks involved in bitcoin and in the purchase, the risk of market movement inbetween your purchase and when you will actually be able to trade, and the amount that you are going to drive down the market when you are selling. That is why I add an extra margin to make it 30% instead of 10-20%. And then there's the IRS. I believe there's a bigger hit if they sell sooner rather than later. |
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