Put a buy in a $4 as its all the gox bux I have. Lets see if it gets filled.
However with these prices and residing in Japan with access to a "faster" deposit I am seriously considering injecting a little fiat.
Talk me out of it?
Having the same thought... So talk us both out of it. It is a tantalizing thought especially if you've been in Bitcoin a while and have realized gains over initial investment. |
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i just cannot understand the logic for selling at these prices - it makes no sense
I haven't heard that fiat withdrawals have stopped for anyone outside the U.S. So if someone in the vast world believes Gox will not resume BTC withdrawals then perhaps he is selling his BTC for any amount he can to get out. It's panic at the disco. I wouldn't rule out something shady either, however, though it'd be pretty disappointing. While over the years it has been oddly run, it has been one of the few relatively safe havens in the Bitcoin realm. |
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These prices are insane. If it enables withdrawles, than what?
Since you and several others continually butcher this, let's give this a shot... withdraw: verb. Use: "I wish I could withdraw from Gox." withdrawal: noun. Use: "I wish Gox would enable withdrawals." Next week we'll work on "cow." The cow goes mooooooo. |
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Windy is a millionaire...he's stated it here before.
I am Bill Gates. |
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[Bitcoin] may work better with "permission" from government, banks, but it doesn't need permission.
That was the common belief before China showed how easily it can be done. I do not see how the blockchain could be maintained if the US government decided to stop Bitcoin. A government can ban Bitcoin but that doesn't mean it stops. This honey badger doesn't need your permission. I used Google when it was still a student's project based at Stanford; I did not consider it a "risk" then, but now I see it as a huge risk for all mankind.  I see why you say your students ignore you. Perhaps they too see a dinosaur braying at a meteor shower. |
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I welcome Jorge but I ask that he moderate his negative views until he has a better understanding and until he has some way to substantiate the basis for his negative claims. But I must admit, I do like Jorge and I hope that he stays with us in the forums.
bingo! |
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Would he need to download the software and/or create a private wallet in order to open an account at Huobi? No offense intended but you seem to have a very tenuous grasp on how Bitcoin works. Before you start making grand predictions about it's future maybe you should spend some more time educating yourself about its inner workings. +1 |
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I have yet to see a convincing model (with numbers) of the bitcoin economy in the bright future; much less how we can get from here to there without being steamrolled along the way by banks, governments, and other competitors like Apple and PayPal. (I read somewhere that PayPal is already blocking any payment related to bitcoin.)
Having trouble believing you're who you say you are yet don't remember how the internet grew, or more importantly what it grew from? It didn't just spring to life as we know it today. Your trouble understanding how Bitcoin could (not necessarily will) survive all this shows you still need to do research into how/why it works. It may work better with "permission" from government, banks, but it doesn't need permission. The fast increase in value, for example, seems to have attracted a lot of undesriable players (greedy speculators, shady investors, incompetent businessmen, scammers...) which are already harming the project's image.
Again, a professor of computer science and you're not aware of how technology grows? Fledgling technologies are rife with just the type of participants you mention above. Don't forget drugs, porn and pedophiles while you're trying to besmirch crypto. By the way, it weren't for those awful greedy speculators Bitcoin wouldn't be worth anything. Dang man, have you done zero research? This has all been covered. I would expect more from a teacher, which is why I believe you're here to spread bear FUD under the guise of "academic purposes." Again, I'm sorry your purchase at $1200 didn't pan out in a few months as you expected. Just hold tight. It'll rise again. |
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Exactly, I think you are saying that fundamentally Bitcoin will fail, but you don't give us a reason why. Why does it have no future?
His argument boils down to "crypto will fail because there's lots of crypto." And he wants us to respect his opinion because he's a teacher. Appeal to authority fallacy doesn't work well around here. |
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Sigh. Bitcoin was an excellent investment, in hindsight - for those who bought before nov/2013 and will be smart enough to sell before it collapses.
Yes, for those who bought for the 4-5 years before 11/2013, it's good. For those who bought in the 4 months since 11/2013 it has been bad. Maybe I don't understand why you're going on and on about an investment of 4 months that hasn't paid off yet. Anyway, don't feel bad about your bad buy timing, the price seems likely to increase from here and there are few reasons to believe it will decrease. |
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Those corpcoins will look superficially like bitcoin in the way people will use them, but of course will not be anything like the libertarian dream. For 99.9% of the population, that will not matter.
This wouldn't be much different than Frequent Flier Miles. If each corp wants a coin they'd then also have to deal with all the computer processing necessary to secure its blockchain. What corp wants to put such resources into essentially an internal "points" program? Why not use Bitcoin whose "points" might be spendable everywhere by then? There are many things wrong with that argument, but one of them is that there is an infinite number of cryptocoins, and they all are in principle as good as bitcoin for the purpose of low-fee payments via internet.
No crypto coin is as good as Bitcoin until a people trusts one as a currency outside its niche. This requires network effect plus massive computing power for security. Only the top dog will have the most security of processing power, which may be fine for Sally's GerbilCoin to risk but wouldn't be fine for SearsCoin. |
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the bottom is when the price smashes against a certain level for a good amount of time and there's an unlimited amount of support until it starts slowly creeping up. Like gox did at 300, and then there's multiple additional high volume tests and they are all supported at gradually increasingly higher levels, until an explosion happens. a huge vertical wall of support continues to build behind the action as a new base.
So how long is a "good amount of time" and what do you mean by "unlimited support"? We've smashed into the ~$530 level twice now (stamp), the second time with a lot more volume. Are you saying that can't be the floor or is it just too soon to tell in your opinion? ... Maybe he will share with you if you share with us what "substantial" and "for a while" and "something major" means ... So where is the bottom in this market?
I get the funny feeling it won't be until GOX dies
The bottom is in. The lows from here on out will be higher than previous lows, but we're not going up substantially either. Not for a while unless something major happens. |
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[Gox] deserve to go down because either they don't have the coins or they try to manipulate the market to make a profit.
If you don't like Gox don't use them and move on with your life. |
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Jorge, you're the voice of sanity here...
In his previous 2 posts Jorge said Bitcoin is a bad investment and to survive it would need to get rid of all altcoins. Are you sure you want to attach the "voice of sanity" to him? To date Bitcoin has for many been one of the best investments in human history, monetarily. It could still be an incredible monetary investment -- how many investments offered 800% return in 6 months? 12,500% in the last 1-2 years? As a social investment it's possible it could become nearly unparalleled. Sure it could go bust. Every investment offers a downside. Calling Bitcoin risky is fair but writing it off as simply bad shows no foresight or possibly is simply revealing Jorge for a pleasant bear (if you couldn't already tell). Sure, he isn't invested himself and he's here for academic reasons only...  Bitcoin has also survived altcoins since around the Oct. 7, 2011 launch of LiteCoin. There will probably be thousands of altcoins in the future. Whether Bitcoin will stand the test of time no one knows however more and more groovy stuff is being built on top of Bitcoin so that it gets harder and harder for alts to have any significance beyond niche currency level. |
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note: this was before the DDOS attack ,and except for Gox, I NAILED IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
note: I sold the bounce and bought the DDOS dip too!!!!!
This is like yelling at the roulette table that you called red and won.. Maybe he has Tourette's syndrome? |
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note: this was before the DDOS attack ,and except for Gox, I NAILED IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Except you didn't call the bottom for any exchange since the bottom was 2 days later. You've mysteriously disqualified what you believe is a "ddos attack" from being the bottom? Are we certain a few hours ago was even the bottom; you don't want to wait a day or so to declare that? Of course then you are quick to tell us you bought the "ddos bottom" as well even though you seem convinced you're correct about the earlier dip being the "real" bottom. You're a true Scotsman. Kudos for being in the ballpark though, you deluded thing, you. |
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ANd the foundation have all their bitcoins on Gox...  I guess none of the officers were into risk management? |
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I cannot imagine what is dishonest about insider trading.
What seems dishonest to me is to hide from the market your knowledge, by declining to trade on it.
Life is insider trading and crony capitalism. We all want to help ourselves, family and friends thrive and to take advantage of opportunities to get ahead; it's just survival instinct. I guess when we become public figures/traders we're expected to curtail it to seem fair. Tough to override survival instincts though. |
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You mean N.S., or do you suffer confirmation bias?
Well, in hiragana it would be Na. Sa., but why would NASA start this bitcoin thing? Obviously they want to take Bitcoin "to the moon." Edit: you beat me to it! |
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