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1  Economy / Economics / Re: Higher price. More people should sell. on: February 09, 2013, 06:41:38 PM
At least thats how it works in stock market. But it doesn look like too many players wanna get rid off their coins. I guess most people with coins go with the flow.
What is reason you are not selling?

I suppose it's reasonable to assume bitcoin fundamentals are quite different than that of stocks. Then to answer your question, I'm planning on supporting the bitcoin ecosystem and I'm only going to spend my bitcoins at merchants accepting them. I'm not interested in holding government controlled currencies Smiley I'm not speculating; rather I'm transferring wealth into bitcoin. It's a one-way ticket.

As long as bitcoin is around, that's where my wealth will be too.
2  Bitcoin / Hardware / Re: Avalon is (unfortunately) a scam. Here is why. on: January 29, 2013, 09:18:56 PM
I'm going to push the envelop here.

In my mind, all the evidence to date points to Avalon not delivery as promised. Therefore, I openly invite Team Avalon to sue me. Simply have your lawyer contact me (PM/email). I will then provide them my real name, address, etc., so that they can properly serve me papers.

To make the libel suit official--Avalon is a scam!

If I don't hear from their lawyer within 24 hours, then what I stated above is indeed fact.

By 3:00 CST tomorrow, I will report back here to state that either I have been contacted by their lawyers, or no-joy. If I'm not contacted, then the age-old adage "buyer beware" is in force, and anybody purchasing Batch #2 are ____________ (refrained from completely the sentence, though the last word can easily be surmised).

~Bruno K~

PS: Somebody quote me. I am not drunk and this account has not been hacked, which can be verified by the admins of this forum if proof is needed.
3  Other / Beginners & Help / Re: Mt.Gox out of money on: January 24, 2013, 11:50:49 PM
Totally didn't know that! Thanks.
4  Bitcoin / Project Development / Re: [ANN] cbitcoin 2.0 - A Bitcoin Library in C on: January 24, 2013, 05:39:49 PM
Props on your progress Matthew, and I applaud your listening ear. I've been keeping an eye on this project Smiley
5  Economy / Long-term offers / Re: Starfish BCB - Loans and Deposits on: January 24, 2013, 05:36:24 PM
Just thought I would follow up on this one; after giving things time to settle down. 

It makes more sense to close down once all incentives to stay are removed.  Hence, I expect any reasonable individual who gets a Bitcoin talk scammer tag, and can't remedy the situation after considering all the facts, they will eventually stop interacting with the Bitcoin talk community. 

I have to say anyone who gets banned, has even less reason to stick around. 

Starfish BCB was probably run by an individual who had the very honest intentions, but his understanding of western banking lacked.  It's sort of sad because of the social nature of bitcoin talk. So far, the scammer tag is the only way moderators have come up with to administer punishment for promises that are broken.  For a person that truly believes they are honest, receiving a scammer tag must be very painfully.  Expecting someone to stick around to face the pain is not something normal people would do.

In some ways, it's really a moral weakness in the Bitcoin world.  What I mean by this, is there is no way to punish only the business side, ie spare the individual.  It's a step backwards in time, since the scammer tag is the same as social isolation via a bitcoin debtors prison.  I also happen to think this system appeals to some bitcoin supporters.

Banks are really, a systemic problem within Bitcoin.  Banks as we know them cannot function in the world of bitcoin in the same way.  Banks function in the western world because they can obtain funding based on their deposits, ie loans from a central bank, which multiples their ability to lend and make money; they use this multiplier to boost profits, which in turn allow them to write down bad loans and not reduce their capital base.  Plus, there is no way efficient way to recover funds from a bad debt, not to mention the lack of statistics to even calculate loan loss provisions for a given business type/size.

Great post.

It's really a tragic story, because Patrick and his wife really do/did volunteer at and donate to a homeless shelter. If you do enough digging online you can find an article about Wendy. I think Patrick was a nice man who ended up between a rock and a hard place. Unfortunately he appears to have disappeared for good, which makes him more of crook than just a bankrupt man.

Though a petty analogy, it's far better that the "bitcoin bank" fail than to receive a bailout from the government. Amen?
6  Other / Beginners & Help / Re: Mt.Gox out of money on: January 24, 2013, 05:27:38 PM
It cracks me up that such a successful business originally sold anime trading cards. I'm glad someone brought that up before I did. So funny.
7  Economy / Speculation / Re: Buyers like lemmings driving a spike to $19 on: January 24, 2013, 05:23:23 PM
I hate the phrase "Bitcoin moves from weak hands to strong hands," because unfortunately my hands are always the weak ones in times like these. I pour all my spare USD into bitcoin and have been ever since I discovered bitcoin nearly a year ago, but unfortunately as a student my spare USD has tipped toward the negative. Enjoy the bitcoins I sell while I perennially hope for a world where bitcoins are still affordable after I graduate and establish a career. I've been telling everyone around me to buy bitcoins for a year, and every month that goes by they have all regretted not buying. You will never go wrong buying bitcoins, even if their value in USD falls. I bought my first bitcoins at a huge mark-up at VirWox, at around 6 dollars a bitcoin. At the time it was a rip-off but not a moment goes by when I regret the purchase. I don't regret selling either, because times change and immediate needs arise, but believe me when I say that in the grand scheme of things, you will not regret buying bitcoins. Even if a drop in price is around the corner.

HB
8  Economy / Speculation / Re: How much would it cost to drive BTC to $100? on: January 24, 2013, 05:12:29 PM
I suppose you exaggerate a bit about infinite demand. There are ways to quantify final demand, for example here:

http://cs702.wordpress.com/2011/05/29/on-the-potential-adoption-and-price-appreciation-of-bitcoin-in-the-long-run/

Yep, ultimately nothing is infinite, but hyperbole just sounds so much more exciting Smiley.  The angle I was going for is that since BTC carry no holding costs, adding one more BTC to one's wallet will always be a welcome event with no conceivable drawbacks (unlike gold, which requires storage or fees).  Hence the greed dynamic with BTC, although not infinite, is potentially even stronger than with gold, so I think the optimistic case for Bitcoin as a store of value results in a higher number than the one referenced in the (quite good) blog post you link to.

My opinion is that bitcoin as an asset is closer in its characteristics to gold rather than UST paper. As such, it does not really need price pumping or artificial backstops to appreciate as its adoption grows.

Agree completely.  I started buying Bitcoin heavily once it finally sunk into my brain that it was basically digital gold.  The bull market in BTC will continue for as long as governments wage war against freedom and privacy, i.e. for as far as the eye can see.  There will be big volatility, corrections, and scary moments along the way, but I consider BTC more of an insurance than a speculative vehicle, so I won't be selling a single Satoshi unless the macro political outlook reverses 180 degrees.


Interesting, thanks for this post. I too see it as insurance. I worry little about the eminent collapse of the U.S. dollar. While such an event would have major global economic implications, with bitcoin I need not be afraid for my own financial security.
9  Bitcoin / Bitcoin Discussion / Re: Why $17? Because this is happening... on: January 24, 2013, 04:57:28 PM
Price is irrelevant, bitcoin's mainstream adoption is priceless. Utility FTW!

THIS!!!

I'm not going to get rich from my bitcoins, but more importantly, as Erik has said in his essays, society is made richer as a whole via adoption. Someday I, and many others, will be paid in bitcoin. Which is far more exciting to me than any return on a speculative investment.
10  Economy / Speculation / Re: why this rally? on: January 18, 2013, 06:22:45 PM
I just keep siphoning off the increase to pay bills, it's awesome. I've been living almost exclusively off bitcoin savings since october.
11  Other / Beginners & Help / Re: Easy to use portable Bitcoin client on: January 18, 2013, 06:19:50 PM
Ideally there needs to be some kind of bitcoin software source/checksum volunteer auditing board.
12  Other / Off-topic / Re: Has anyone considered a decentralized social network? on: January 15, 2013, 09:10:54 AM
Yep, Diaspora is cool.
13  Economy / Services / Re: BitCoinTorrentz.com - Torrent Download Service on: January 14, 2013, 01:38:13 AM
introduced a friend to btc because of it

same!
14  Economy / Goods / [WTS] 2x Concert Tickets JEFF MANGUM in Oklahoma City, OK on Jan. 19 on: January 12, 2013, 10:17:35 PM
Asking $200 in BTC for both, or best offer.

Jeff Mangum is the former frontman of Neutral Milk Hotel.
15  Economy / Service Announcements / Re: VIRCUREX !!! IMPORTANT !!! on: January 11, 2013, 08:32:53 PM
I'm not sure if I feel worse for bitcoin, vicurex, the people with funds there, or ruby on rails.
16  Economy / Digital goods / Re: bitcoin VPN [30% off sale!] on: January 10, 2013, 11:43:49 PM
http://torguard.net/aff.php?aff=069

This guy is promoting his affiliate links. Is that allowed here? He should have mentioned that his links were affiliate links and provide optional clean links.

Somebody's jealous
17  Bitcoin / Press / Re: 2013-01-08 torrentfreak - PayPal Demands Invites to Private BitTorrent Trackers on: January 09, 2013, 04:43:29 AM
They've been digging their own grave for a long time. It's a losing battle.
18  Economy / Scam Accusations / Re: Find Trendon Shavers in person thread... [BTCST, BTS&T, pirateat40] on: January 08, 2013, 08:51:54 AM
  • Imagine you had some drinks at a bar. Who the heck writes then in almost perfectly spelled English after some drinks (or did he enjoy only non-alcoholic beers Roll Eyes )?
C'mon, this is dumb. Who loses their ability to spell after a few beers? I certainly don't and neither does anyone else that I know. I think it would take a pretty serious bout of drinking to damage spelling for most people. You'd need to be completely wasted.

You can think it is dumb, I think it is reasonable. You can not deny the effect of alcohol on your preciseness, etc.. 
If this was a email conversation, ok, then I could say he used spell correction or read his written text again - but this was a chat where you do write quite fast.

I have my doubts, given that it was at night at 4:20 AM and he came from a bar... fits more towards 3:20 PM in Texas...  Lips sealed 



FWIW:

I write some of my best stuff after a few drinks. Also, I can see the authenticity of the story going both ways.
19  Economy / Games and rounds / Re: Open a crate, get programming coupons. (~11 btc value) Free to play. on: January 06, 2013, 06:52:13 AM
B
20  Other / Off-topic / Re: To MPOE-PR on: January 02, 2013, 11:13:48 PM
So I'm back from my little vacation, boys and girls. How did everyone's Xmas+NewYear+FailedEndOfTheWorld go?

Sure did! Look what Santa put in my stockings:



Santa gave you backwards feet?
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