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The level of delusion on this board is sometimes staggering.
So is the number of trolls. Oh yes, I forget that anyone who doesn't toe the party line here is a troll... Come on, it is a silly question, Bitcoin cannot survive if what people see when they come in to research are silly comments like that one. BTC (or more likely another type of crypto-currency) might emerge as an alternative payment method, but it won't take over the entire world's economy, this is not only an unrealistic goal, it fails to recognise how economies work. |
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You can't even convince a few sites to accept Bitcoins now, how are you going to convince the world to move to Bitcoins?
The level of delusion on this board is sometimes staggering.
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Can bitcoin fill the void in a bank run? No. Next question?  |
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Right now it looks like a close at just under $12 USD is not out of the question. The 5 day chart looks pretty grim.
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And people wonder why the general public are staying out of Bitcoin  |
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And I have every right to be sick of their whining. Life is unfair, boo-hoo.
Man up and take your loss, never use them again, fashion a dartboard target and use it regularly. Perhaps move on with your life.
I love this response. Hi, welcome to Bitcoin. Thanks for your money. NOW FUCK OFF! Gee, I wonder why the general public is turned off by this. +1 |
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Waiting for Goxdot
I don't think that there's many people getting that Beckett reference in this forum  Ah, the curse of the cultured |
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Nw showing:
Waiting for Goxdot
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Well we'll see, I'll definitely be notifying their state's securities regulators and that LLC directly exactly who they're processing payments for, and then they can judge themselves if they want to accept liability or just cut them off.
I'm getting my money back.. nearly 1000$ (not bitcoins) and they wont even respond to my emails. Someone's gonna fucking pay.
Payment intermediaries are not liable for anything done by MtGox, period. Do read the case I cited, it is a simple Google away, you cannot sue intermediaries for what MtGox did or did not do. Don't you think that international litigation will cost you more than $1k USD? |
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I bet you I can sue these guys.. wanna bet? I will post the details on here step by step instructions and get a case number for you - we can use that arbitration service to settle the wager lol, anyone know the name of the LLC/state it operated in that handled their US payments? I'll get on the horn first thing monday.. I got provable damages in US dollars over small claims amounts too
You cannot sue their payment intermediaries in the United States (well, you can, but you are not likely to be successful) , there is a considerable body of case law that declares intermediaries are not liable for actions committed by their customers unless the intermediary is a direct party to the transaction (for a good example, see Tiffany v eBay 576 F.Supp.2d 463 (2008) ). |
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bitcoin doesn't change any of this. the inflation of fiat currencies, and its effects, are very poorly understood on these forums in general.
the income from interest came from the participation of your savings accounts in the growth of the economy. the income from the hoped-for deflation of your bitcoins (based on bitcoin's future monetary policy, because of course bitcoins are right now substantially more inflationary than any fiat currencies, monetarily speaking, and they will remain so for some time) will come from exactly the same source. if the economy does not grow in real terms, there's no way that everyone can receive positive risk-free returns; there's nothing to do but shift the existing or dwindling wealth from person to person.
i still bristle when i see people in these forums angry at the inflation of fiat currencies. the comparison to bitcoins is misleading. nobody received a dollar in 1913 and expected it to have the same purchasing power in 1999. and during the inflation that the original poster's chart shows, the united states was, with a handful of exceptions, both prospering and increasing its prosperity; the inflation of the money supply did not stop that. moreover, as i've tried to explain before, monetary policy does not force inflation's effects on people; anyone could purchase other assets (though not with infinite flexibility, given the outlawing of private holding of gold, which is a more serious regulatory intrusion than monetary inflation) with their cash if they wanted to avoid the effects of inflation. other regulations, including tax laws, have imposed limits on people's abilities to invest arbitrarily, but that is not the fault of monetary policy. the anger at the 'inflation' of 'fiat currencies' is, for these reasons, rather bizarre, and honestly the frequency with which it's repeated here increases the amateurish and fringe feel of the community.
there are a lot of things to be angry at central banks for. that the dollar inflated throughout the 20th century is not one of them.
Just wanted to congratulate you on a very sound analysis. It is good to see someone who understands monetary policy beyond Tea Party soundbites. |
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Bitcoin could have prevented many things if it would have been around in the past. I think it would have been impossible for Hitler to go as far as he did, if he wasn't able to confiscate the "hard funds" that he took from every country he conquered.
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Come on Anduril, you troll, defend the dollar and fiat currencies.....
Allude to other threats with weaponry and drugging people. That's what the US does is it not. The value of the dollar down the barrel of a gun..... Nice.
Your quote has nothing to do with what I said BTW, I think you replied to the wrong post. However, the xkcd cartoon is in jest to exemplify that the currency can be as secure as you can make it, and there will still be problems with security (like with unencrypted wallets and website exploits). Just as with everything in the world. It is simply a reminder that all of this hubris must be met with sanity. By the way, look up tu quoque fallacy. Just because there are problems with fiat currencies it does not validate BTC. And ffs people, not everyone who is critical of Bitcoin is a troll. I am very interested in it from various perspectives, yet it seems like it has become impossible to even post a cartoon without receiving an insult! |
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I think we should ban together to hit mt gox with a class action law suite any thoughts
on anyone lost over $500 can claiim against them and they are bound by some usa laws as well as HK laws so they can be sued and for loss and profits and keeping us from our revenues,
Where are you going to sue exactly? |
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Heh, good point. But instead of a $5 wrench, you just use OS or website exploits.
Indeed. BTC currently is only as strong as the exchanges (because there is hoarding and no liquidity), and let's face it, they are amateurish at best (and no, I'm not equating BTC with Mtgox, but the others do not fill me with confidence either). |
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We are creating an entirely new web of powerful encrypted transactions that not even the best hackers in the world can crack. Tell me how that's not value people?
I posted this elsewhere, but it bears repeating:  The technical hubris in this thread is quite amusing. |
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John, if these problems are as classic as you claim, then surely their solutions are also classic, and will be straightforward to implement.
What then is the issue here?
That you may not like the solutions. |
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People are so stupid. No one cares about your pathetic analysis. You know nothing about this technology, and the reason for the speculation and market bumps is because people like YOU.AKA People who don't understand what this is, and will probably never will. Just keep "speculating", god knows that's what you do best. You do know that in order to be taken seriously outside of the geek circles, Bitcoin needs people like the OP, right? Understanding the technology does not a viable currency make. |
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People need to remember this: |
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