Irrelevant.

Once bitcoin is accepted as a currency, in and of itself, then the exchange of bitcoin for fiat money will no longer be necessary anyway. People will earn bitcoin for providing goods or services, and spend bitcoin in exchange for the same. No fiat will be needed whatsoever once enough people have confidence in the purchasing power of a bitcoin. And fiat currencies probably won't be around for much longer anyway.

A typical response from a fool.


And so what if it is 'declared' illegal? Who is going to declare this? By doing so, they are admitting their fear of bitcoin and it will only strengthen the cause. By making it illegal, they are reinforcing the ideals that drove the creation of the technology in the first place.

They tried to 'declare' alcohol illegal in the US at the start of the 20th century and look how that turned out. People who want to use it will continue to do so, legal or illegal. How can they be prevented from doing so? It is a decentralized system with no single point of failure. They cannot put you in jail or bring you to court for running a program on your PC or owning a virtual commodity that does not even exist in the tangible world of property. They might shut down an exchange or two, but new (more anonymous or else legally compliant) ones will arise.

Bitcoin is a deeply subversive technology, and the banks and governments know it. Nobody wants to broach the issue because they know they would appear powerless to do anything about it, while just giving bitcoin more attention. The elites fear bitcoin because it has the potential to take their power away and there is not a jot they can do but throw tantrums.

As for 'breaking the US democracy'... ummm, huh? What the hell are you talking about you moron? Assuming what I think you mean (and it's a BIG assumption, because its nonsense) - declaring a technology that is accepted as revolutionary by many people as illegal would be far more opposed to the ideas of democracy, don't you think? That was obviously a rhetorical, because I know you don't do much of that. Democracy in the USA is an illusion anyway - it is a plutocracy veiled behind a puppet show democracy.

I don't know why I am even bothering to respond to a post that is so far off the stupid scale that it could have been written by an amoebae.

Not yet...

Yeah, but there is not enough panic yet. That wall is simply there to fuck with us. It is supporting the price until enough bids have been placed, after which it will be abruptly pulled and further panic will ensue. I might be wrong, but I don't think any manipulator worth his salt would actually give his hand away by leaving that wall there for so long. Call me crazy.

You do realize that this is exactly what you are supposed to think? Don't fall for it.

That was the best laugh I have had in a while. Thank you proudhon!

I don't like it when innocent people are the victim of a crime either, but it doesn't turn me into a blithering, weepy mess. Just because you seem so willing to give your money away to those who do not think twice about sending their credit card details to a Nigeran Prince in exchange for $1 million, does not give you the moral high ground.

The chargeback process can be easily abused and is wide open to serious fraud itself, which gives scammers an even greater ability to defraud honest businesses out of money. And there is very little they can do about it, while stupid people can always be educated.

A fool and his money are easily parted. We should be trying to educate people to help them understand the best ways to keep their money safe and avoid scams in the first place, not give them the freedom to spend it as stupidly as possible and actively disincentivize financial prudence, while the rest of us are forced to foot the bill.

Crime can (and should) be dealt with by the legal system... not the financial system.

I suppose you could reduce it to that statement, albeit rather simplistically. Do you have a point?

Reasons for being scammed:
1) Falling for a confidence trick
2) Trying to get a too-good-to-be-true deal
3) Trying to turn a fast buck
4) Stupidity
5) All of the above

I have never in my life been scammed because I am cautious about who I give my money to, I know that if a deal sounds too good to be true it probably is, I make sensible investments and I have informed myself quite well thanks to a good education.

I feel bad for honest people who get scammed, but if people have a permanent false sense of security, then where is the incentive to be prudent with your money? If we keep giving people who get scammed their money back, they will never learn and the scam artists run riot. It's a tough but necessary lesson in economics.

I don't want to be footing the bill for the mistakes of others when I have gone to great lengths to ensure that I don't make those mistakes myself.

If they want a safety net, maybe all the idiots in the world can come together and create themselves some sort of 'idiot insurance'. I don't want any part of it though. If they want protection then they will have to pay the cost of their own stupidity themselves.

The discount levels are based on how much you download. If you download 20GB, you get 10% off.
When you buy bandwidth, you will not receive discount until you actually use it. It's just a convenience.

@2weiX: the bundle price is calculated based on your discounted rate.

Ok, so I am going to increase the price to 0.8 btc/gb for the time being. If anyone has any objections to this, please feel free to voice your opinion either in this thread or by PM to me personally. All comments are welcome, especially critical ones.

As a customer, why would you take risks on dodgy businesses in the first place?

You should trust those who you intend to transact with, if not - then find a trustworthy alternative. If you decide on a whim to take the risk anyway, why should I have to pay for your mistake when you get suckered out of your money?

By having to pay I am referring to the fact that I am forced to also concede to chargebacks as a business, or as a consumer am required to pay higher prices to cover the CC fees passed on to me by businesses to pay for the cost of the chargeback process.

Do your own due diligence. Expecting others to do it for you is naive.
When you throw caution to the wind, you cannot also expect to have a safety net if things don't go your way.

It's completely childish.
"MOMMY!!! The dodgy man lied to me. He told me these beans were magic!!! WAAAA"

Another new low recorded at 2.10. Keep your eyes on that $2 wall.

Be careful you don't get burned...

This one seems pretty accurate. /sarcasm

Not you unfortunately.
Nobody is going to buy those coins, when they can buy them for €1.67 on mtGox right now.

Look at the MACD. It's signaling a huge drop. The RSI is just about to touch 30, and momentum is -1. I'm not normally the biggest fan of technicals, but I honestly can't see how the price could manage a successful rally back to $3 under these circumstances.



Maybe in the medium to long term, but there is no reason whatsoever for the price to rise again in the short term.
Real demand is non existent. The only people buying right now are speculators who don't know what they are doing.

The only way the price will rise is if someone takes a huge gamble and buys a LOT of coins to start a momentum move.
It won't be real, and will quickly deflate again.
That's why it is not going to happen.

The price pumpers were only able to get it up to 2.27 this time. Nobody is taking the bait.
As soon as we hit that $2 wall, it's going to disappear.

I am going to have to increase the price of this service considering the recent drop of 25% in the exchange rate. I have not raised prices all the way down from $5. While I am willing to subsidize the fiat costs for the benefit of users, I am not willing to run this business at a loss for an extended period of time.

I am thinking of a base rate of around 0.08 btc/GB.
Could shareholders and users weigh in with their opinions on what a reasonable price would be?

Anyone who has already purchased bandwidth will not be affected by this price rise.

Misquote.

The price drop was due to the anticipation of imminent further falls.
Demand is basically non existent.
Sellers are realizing that they need to get out now before it's too late.

The chances of recovery are slim, in the short term.