A lot of US folks in here calls themselves "anarcho-capitalists". I explain them that's an oxymoron, that anarchism is against capitalism by definition, because capitalism is hierarchical and coercitive by nature.
This. The Rothbardian "definition" mentioned earlier was simply made up when some capitalists tried to co-opt the word. Anyhow, sorry for the OT lucif, please show us some bearish triangles  This  |
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Proud member Some of these threads will be great bumps. |
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Does the tax only apply when converting from coins to fiat? In that case I would never convert the coins to fiat but instead buy my villas directly with bitcoins.
You'll just get taxed on the market value of your capital gains. |
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If users would take a few minutes to learn the basics of Ripple, they won't be scammed like morons.
People *are* morons. And assholes too. And greedy. Sure. Which is why this has nothing to do with Ripple. |
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I didn't realize this was the ripple thread. Excuse me while I go look for the MtGox thread.  No. But only foolish people who care so little about money not to do a basic level of research will fall into this. If someone is careless enough to simply assume that extending trust is meaningless, without doing a modicum of research, he shouldn't be using Ripple. My advice to newbies: if you aren't willing to learn about Ripple, don't use it. Same goes for bitcoin -- lots of lost coins out there due to very careless people.
You should only trust an established business. If you want to trust your friend, just like IRL, he may never pay you back. I don't understand this idea that people need to trust everyone they know. That's just part of a marketing scheme to make Ripple more relevant to the average user. If my friends or family needed money, we'd figure out a way to get it to them. I don't need to extend trust to every single person (so that I never know whether or not my funds are liquid). If someone needs BTC, I can get them where they need to go easily and without any risk via Ripple.
I would agree insofar that people will make mistakes and get burned. Just like with everything else.
But that's just it. Ripple is being marketed as a social network not a trusted exchange backbone system. Totally. I don't advocate for how it is being marketed. I don't like OpenCoin and I think the way Ripple was rolled out was pretty scummy. Still, I see great potential. www.ripplescam.orgalso tradefort's btc giveaway  ripple is a long term scam with serious problems. i could steal over 100 btc today if i wanted to, using its flawed system to trade fake ious with legit ones seamlessly out of peoples wallets. to compare ripple to bitcoin is like comparing unicycles to ferraris. Well aware of ripplescam.org and tradefortress. Nothing new there. With the former, again, I disagree with many aspects of Ripple's launch, but I don't see the issues outlined as exhibiting inherent flaws in the protocol -- not at all. And what about tradefortress? If users would take a few minutes to learn the basics of Ripple, they won't be scammed like morons. And I am quite sure that you couldn't steal "over 100 btc today" through a trust scam. Make me a wager! You couldn't get anywhere close. The only reason more than a negligible amount of BTC were stolen in the tradefortress fiasco was because a user offered up over 9 BTC, announced it on the forum, and told tradefortress to make his point. Hence, the IOUs were stolen. |
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Ripple is great, IMO. It has incredible potential as a payment system and is far more versatile than bitcoin in that regard. In that way, since you can move in and out of so many currencies and IOU issuers, Ripple could be very useful for arbitraging. Too early at this point, though.
Ripple will either end with a whimper, as people realize what a bad idea it is, or with a bang, as people find out what a bad idea it is. Bad idea, why? Do tell. If, like most detractors, you base this on the debt/trust system's potential for collapse, you should probably stay away from bitcoin exchanges as well. So trusting a registered, established business is just as risky as trusting someone you don't know anything about who happens to be a friend of a friend of a friend? No. But only foolish people who care so little about money not to do a basic level of research will fall into this. If someone is careless enough to simply assume that extending trust is meaningless, without doing a modicum of research, he shouldn't be using Ripple. My advice to newbies: if you aren't willing to learn about Ripple, don't use it. Same goes for bitcoin -- lots of lost coins out there due to very careless people. You should only trust an established business. If you want to trust your friend, just like IRL, he may never pay you back. I don't understand this idea that people need to trust everyone they know. That's just part of a marketing scheme to make Ripple more relevant to the average user. If my friends or family needed money, we'd figure out a way to get it to them. I don't need to extend trust to every single person (so that I never know whether or not my funds are liquid). If someone needs BTC, I can get them where they need to go easily and without any risk via Ripple. I would agree insofar that people will make mistakes and get burned. Just like with everything else. |
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Ripple is great, IMO. It has incredible potential as a payment system and is far more versatile than bitcoin in that regard. In that way, since you can move in and out of so many currencies and IOU issuers, Ripple could be very useful for arbitraging. Too early at this point, though.
Ripple will either end with a whimper, as people realize what a bad idea it is, or with a bang, as people find out what a bad idea it is. Bad idea, why? Do tell. If, like most detractors, you base this on the debt/trust system's potential for collapse, you should probably stay away from bitcoin exchanges as well. |
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I really wish transfer between BTCe and Gox was easier.
Never though I would say this, but I really wish somebody could create Pegcoin, all the advantages of instant, decentralized transfer of bitcoin, but pegged to fiat currency value. Obviously I prefer something with a limited supply like bitcoin, but for now it would certainly make arbitraging a lot easier... Probably not a viable idea to implement though (not to mention the legal issues). Ripple? I haven't really looked into Ripple decently, but isn't it a lending system? Not really. Money is held by ripple gateways in the same way that money is held by bitcoin exchanges. So when you send Bitstamp $1000 and move it to your Ripple wallet, they "owe" you $1000 the same way they'd owe you if you kept in on Bitstamp. Ripple is great, IMO. It has incredible potential as a payment system and is far more versatile than bitcoin in that regard. In that way, since you can move in and out of so many currencies and IOU issuers, Ripple could be very useful for arbitraging. Too early at this point, though. |
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I think we might be talking past each other (probably because I didn't sufficiently read the initial post to which Brunic was responding). In my book, 2013 was a bubble the same way 2011 was a bubble, but bitcoin will over the term of a few years still do well, and will not only be able to sustain these values, but add to them (though in the short run my guess is it will go down some more). Perhaps we are only quibbling over timelines here.
Likely. I'm not saying that the bubble top is not sustainable long term. |
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Even though Bitcoin uses the Internet, it is not fundamentally the stuff of the Internet; fundamentally, it is sound money -- and this is the major difference which renders the comparison moot. It's like saying mobile phone adoption is a bubble and the same will happen to it that happened to home phones.
Your personal view of "sound money" has no effect on the real world. You're just fantasizing. |
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This is not your typical finance though; this is really and truly revolution, on a bigger scale than has ever been comprehended.
The dot-com bubble crashed and was based on Internet. If the whole Internet wasn't strong enough to prevent any bubble crash, how something smaller like Bitcoin is supposed to do that?!?! How does the dot-com bubble relate to the price of bitcoin? Bitcoin is not a dot-com startup. Well, the dot-com was a bubble and Bitcoin is also a bubble. If the dot-com, an economic ecosystem that based its potential on the Internet(which is the biggest revolution of mankind until now) was not able to sustain a bubble, I don't see how Bitcoin can sustain any bubbles either, whatever the potential of Bitcoin could be. "Because it's Bitcoin" is not a good reason enough to change basic economics rules. "Because it's a bubble" isn't much of an argument either... This point only applies if you ignore how a bubble is generally defined. We are past the point of being able to retrospectively identify the 2013 bubble as such. Perhaps you call a parabolic rise and fall something else, but maybe you could explain why it wasn't a bubble, since it is clear to so many that it was. |
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Releasing funds for a big btc buy over next few weeks.
I expect 200usd per coin to be reached by Xmas.
This will be seen as the time latecomers had their faith tested...
The only thing to be released are the gox withdraws. Bankrun anyone? LOL, this! |
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What makes you say that the speculators are gone? We're just not in the run-up to bubble anymore. Lots of speculators holding (......who will later capitulate).
They will buy on lower prices, not sell. Why sell lower when you could've sold higher? That's really easy to say in hindsight, isn't it? Why would I sell at 100 when I could have sold at 260? Why would I sell at 50 when I could have sold at 100? Because I didn't sell, and I fear the price will go lower yet and I will lose even more value. Ergo, panic. That's the capitulation mindset... and you just assume it won't happen. That's fine, but if you're 100% BTC right now, I suggest rethinking that. A lot of panic selling has happened, yes. Point still remains. |
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This channel will be broken in the next days.
Do you see a flash crash or a long slow slide with bull traps along the way? |
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What makes you say that the speculators are gone? We're just not in the run-up to bubble anymore. Lots of speculators holding (......who will later capitulate).
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We won't be here for long. And still, the perma-bulls never give up.
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This is not your typical finance though; this is really and truly revolution, on a bigger scale than has ever been comprehended.
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According to Moody, there are bids totaling more than $50 million in the $0 - $2.50 range.
It isn't difficult to manipulate the total bid sum. All you need to do is place lots of bids far below where you expect sales.
You need the cash... Yes, but bids in that range obviously aren't real support. They will never get filled, so this must be taken into account when looking at total bid sum. |
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Price rise was too high, too quick. We are in a consolidation phase.
We're past consolidation and clearly broke downward. Long slow slide time.  |
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