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The previous two posts must be the most stupid and unreflected ones I have read in this whole thread.
bitlane: use all of his huge profits solely to maintain an incredibly expensive lifestyle? Get serious.
psy: An appeal to authority as actual reasoning? So if I have 29381093 ratings, It is impossible for me to scam anyone? Cool story bro.
Congrats, you both have earned yourself the additional ignore. Oh, and for the record, I am betting with my money that he does not run a Ponzi, so this is not even coming from a detractor as you two will surely accuse me of.
edit: I apologize, I just don’t like the hostile tone you guys employ. I think we could and should remain civil here.
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Gold was used as a money. It only stopped being used because it is inferior to paper and electronic money since it is a pain to handle. Since, there is nothing to "represent" Bitcoin other than fiat (and we're trying to avoid fiat right?), the only storage Bitcoin is is for ...Bitcoin.
I still don’t get what you mean with the storage thing. In how far is Gold different? Gold cannot offer me certainty over its (future) supply. Gold cannot offer me the ability to transport and store vast quantities cheaply and without worries. Gold cannot offer me the ability to not have it confiscated by a government. Gold cannot offer me the ability to easily liquidate it at anytime. In short, Gold loses out in pretty much every respect in comparison to Bitcoin. The only two downsides are its short history so far and its dependance on the Internet. BTW, you are telling me Bitcoin is so volatile while promoting Silver and Gold as a store of value. You should take a look at both their long-term graphs, particularly silver. You can wait a few thousand years if you like, I for one consider Bitcoin a superior long-term store of value right now. |
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Bitcoin is in no way whatsoever superior to Gold as a storage device for value, since it is NOT A STORAGE DEVICE FOR VALUE (emphasis mine).
Why not? Because you say so? Bitcoin seems to work as a long-term store of value very well so far. I think Bitcoin makes Gold (as a money) obsolete. |
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Somewhere in the last few post the difference between Bitcoins and Gold was (re-re-re)discovered and (once again!) stated, so I will repeat:
Bitcoins are a means of MOVING value.
Gold/Silver are a means of STORING value (silver less so than gold imho).
With metals, I have no idea how much supply is around and how much will be found in the future (and at what rate). Counterfeiting can also be a problem. There are tons of other advantages since it is easy to store anywhere, cannot be confiscated etc. So technically, Bitcoin is superior to fulfill a role as a store of value. Also, have you looked at a long-term Bitcoin chart? I say Bitcoin is Gold 2.0. |
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I don’t read the Newbie forum either, so I would appreciate if people made suggestions in this thread when they see potential Atlases. After all, Hunting Atlas is a fun game for everyone!  |
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(Fixed link) Thanks a lot for the clue! I have never finished Bioshock, but Atlas definitely has, and some of his personas were based on characters like Andrew Ryan. Makes perfect sense. |
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the headache must be huge about now; btw, what's the score?  Will be picking up some gold once we get to BTC/AU parity. but what if they invert? One thousand ounces for a Bitcoin is fine too. First step: Silver parity. |
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the headache must be huge about now; btw, what's the score? Will be picking up some gold once we get to BTC/AU parity. |
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I believe it will just gap up a dollar or two within 24h someday, and then we enter a multimonth move.
For now though, the trend of trendlessness continues to rule.
as long as it holds right here that's BULLISH. and then you're right, we'll gap up. OK, agreed! Since it would be literally doing higher lows and higher highs (5.48>5.45). |
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I believe it will just gap up a dollar or two within 24h someday, and then we enter a multimonth move.
For now though, the trend of trendlessness continues to rule.
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last chance to buy Bitcoin under $5.
Final last ultimate chance this time before we never ever go back again?! I’ll just quote myself from this thread: |
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@Meni
Why is the maker-taker model broken? I think it is good for liquidity, and lots of exchanges use it (Bitcoin exchanges as well).
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Couldn’t agree more, rjk.
How about you people STFU besides telling friends/relatives who trust you the story and let Bitcoin either survive or die on its own merits and incentives? No need to push shit.
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Can I have the Movie Rights?
Hunting Atlas is a great title.
For the right amount of Bitcoins, anything can be had. |
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patiently waiting to be invited to 'The Island'.....
Yup, Pirate's going to take his largest depositors and start a cult on his island. We will be paid out in physical Bitcoins!  |
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If I exclude my personal Pirate deposit from the other stuff I do with bitcoin I am still making monthly returns comparable and higher to annual returns in local currency. While many people think Pirate is the lynch-pin for the lending and returns, that is simply not the case. Yes, it would certainly place a big hole in things, but other thefts have been larger and the economy survives.
Expectation: rates will come down, and I have that in my medium term plan. But while returns are still high elsewhere from productive activities, rates stay high. It is what the market is prepared to pay.
What kind of "other stuff"? If it is related to Bitcoin lending, there is the problem that the rates you can demand are affected by the availability of pirate interest rates. I have thought this over and must agree it can be viewed as a bubble. The relevant question for me is whether interest rates will be maintained for as long as possible, and collapse all of a sudden, or if they will gradually decrease. With regard to the BTC/USD price, I believe that the former option would be bearish, while the latter one would dampen price increases. |
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