thank you for your answer, but apparently you miss-took me for someone intelligent educated.

could you please explain or elaborate?

perhaps you mean that the voting class has some kind of protection from the ruling class? I just don't get it.

"now calculate" - hehe, yeah, right.

as a miner for 3 years now, I would say that my opinion of the "cost" of mining will closely correlate with the bitcoin price moving forward.

there will be significant lag, as there is a lot of sunk money in bitcoin mining, but my greatest hope would be the graph below:


credit to TERA for this nearly famous chart.  


such a scenario would dampen mining in a profound way. we really had a great push when asics were first realized, and then implemented, and now they have been executed.

Now we are reaching the boundaries of what is currently possible. The physical boundary of heat is IMO the biggest barrier at this time.

Until the next "quantum leap" in computing, mining bitcoin is going to get quite boring. (it already pretty much is)

altcoins keep it fun, kinda, and I can see the real innovation in trying to find new super-secure, energy-efficient, wipes-your-ass-for-you types of encryption.

the only problem is that with 5 years of accounting records behind it, bitcoin has a large incentive to stick around...

... sorry, I started out trying to pick a fight and now I don't even remember what I was mad about. isn't the internet great?

it's downright criminal is what it is

what exactly is a "protected class" anyways?

no kidding

at least we're done with the "first they ignore you, then they ridicule you" phase, we are now entering the transition to the "then they fight you" phase.

still a lot of ridicule out there, and I think the fight will be long and bloody as well, but eventually we will reach the "win" phase.

if we can't win against the vampire squids then I'll probably die trying.

asicminer is in china, right?

I don't hear much about them anymore...

anyways, I gotta get some sleep, so at the risk of being spammy I'll drop this link one more time.

http://youtu.be/XcGh1Dex4Yo?t=1h14m39s

good night now!

I would really love to see some cascading, blood-red waterfalls right now.

It's probably my strongest personal indicator that it is not going to happen.

Huobi is awesome at that, and they can do it both ways, down, and up.

I'll be sad when (if?) they're gone.

(edit, actually I guess it was btcchina that did the up stuff, so perhaps amend the above statement as a generalization of chinese exchanges.)

(second edit, hmm, why the other exchanges not following? are we finally reaching the bottom? I remember it took a long time before other exchanges stopped reacting to gox.)

you're welcome, and you should, it's from 2012 and I can't believe I hadn't seen it before now.

Vampire Squids

http://youtu.be/XcGh1Dex4Yo?t=1h1m12s

quite good little show (you might want to skip the first 30 minutes or so of remedial stuff if you're already aware what's going on)

this is the forgotten period of bitcoin history.

I listen to a lot of the bitcoin podcasts and stuff, and when they interview someone, they often ask "when did you first learn about bitcoin?"

The vast majority of the answers are either 2011, or 2013.

You never hear anyone say "oh, I heard about bitcoin in 2012 and I was instantly hooked"  

(*note* the guys that were around from before 2011 are almost never asked this question)

me too! once this puppy pops to the upside, I am hibernating my coins until we hit at least 2000.

It's certainly starting to feel like the weather is changing, I got tired of waiting for the rest of my tranche to get eaten so I removed the bid at 333 and bought some at 470 CAD this morning...

Still hoping for one last crash to 400 before liftoff, but I'm afraid we might not get the chance.

uh oh, looks like the ground is shaking... (huobi looks to be going up)

I really hope this is a bulltrap.

*edit* askwall coming down and flattening on huobi, probably false alarm, although if the 440 askwall at btc-e were to get eaten, things might get exciting.

L O F'n L

I totally missed who actually wrote that post. my apologies prof, I mostly glaze over the names and look just at the content, especially if there is no avatar giveaway.

kudos. trolled me good 

Thanks Jay, as soon as I saw that post I was gonna try to do the math to call him out on his absolute bullshit, but then I realized it wasn't worth my time.

also thanks for using NOT one annoying quirk in that entire post.

 

Thanks Adam, you always give the best advice

also, guess who wisdom added?

https://bitcoinwisdom.com/markets/vos/btccad

I have a feeling that perhaps he didn't sell all his coins back then.

I wouldn't shed any tears for proudhon, I get the feeling he's doing just fine.

still the only bitcointalk member that I know of that has had a song written about him. (other than satoshi of course.)

"what would it take for me to become a bull?"
hehe, nice question. I'm not exactly "your average bear" but I am not especially bullish for perhaps the next couple months...



that's a virtex chart I posted last week, if we break above that line and hold above it for a week or so, then I would still be cautious.

I can't remember why I came up with my target, but until we hold above 620 (CAD on virtex) for more than 24 hours I still consider us to be deep in the woods.

no technical backing at all, just my thoughts, take them with a grain of salt, they're tastier that way

ahh, but when you get old and you look back on this whole bitcoin thing, you will realize that anticipation was the best part.

the problem is that the rich people that we're trying to steal the money (power) from are much stupider than you give them credit for.

this will take some time.