If we have thousands of rich newbies willing to buy the coin at any price, then the answer is yes.
Yes , there are this type of newbies who are not interested at the technical things of bitcoin and just speculating the bitcoin price as they expect to earn a quick money. Making money sounds so paradoxically to me. Bitcoin is money. Making 'money' means for a lot of people making fiat (dollar, euro's, etc.) But for me making money in bitcoinland means making more bitcoin! |
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By a large margin, most bitcoins mined are not sold on exchanges. They are held.
I like the idea, but how do you know? Do have some proof? Most of the money on exchanges never saw a bitcoin wallet, they are only cash-in, cash-out traders.
Agree! People that know Bitcoin, know that it is worth far more than gamblers about its future.
I really hope so, because my bank account is showing triple digit fiat figures lately. |
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Reading things from 2011 just reminds me of all the things I was doing in that year that wasn't buying bitcoin.
Oh well, onwards and upwards.....
These were the years I got my kids. I can't blame them for getting into bitcoin as late as February 2013  I mean, the fun I had making them was also very valuable. But only the diapers!  I have my first little one on the way. Well.......in 4 months I'll be a dad. Hope everything goes well! I hope in 10-15 years I'll look back and think I'm glad I saw bitcoin's potential and bought btc whilst the price was reasonable.
Either that or it's worth nothing!
That's the spirit. Just like me, a proud hodler We'll tell our kids and grandchildren we were there and were pioneers and took risks for the greater good. Our kids could be using nothing but bitcoin in the future. Nobody knows....
Our kids will inherit bitcoin from us, at least from me! |
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Reading things from 2011 just reminds me of all the things I was doing in that year that wasn't buying bitcoin.
Oh well, onwards and upwards.....
These were the years I got my kids. I can't blame them for getting into bitcoin as late as February 2013 I mean, the fun I had making them was also very valuable. But only the diapers! |
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Well, the voting will probably get rigged just like the Scottish vote lately. |
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I do work for bitcoin with my second job. It's called a signature campaign! (Look below) Of course I can't live from it, but it's a start. It also helps to get convenient with the idea of getting paid in bitcoin. It's only 0,025 bitcoin a week(25 messages a week), but it's worth it. |
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The Winklevoss are giving a keynote at Money 20/20 in a week.
Is it possible they may announce the ETF? Does the SEC publish public documents upon approval, or do they privately tell them it got approved? In other words, will we know when the Winklevoss know?
The issuer can decide when to "go public" once approved. In other words, they manage their own announcement, not the SEC. They'll know first. We should see some front running insider trading then if this is the case. |
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Just got my first payment! Thank you very much. I will stick with this campaign |
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Thanks. I just paid for and ordered the DVD of this movie. Better to support than to steal Why do they always quote the price in dollars only. Why not quoting the price in bitcoin also? Why not quote the bitcoin price in bold large font and put the dollar price in smaller font between brackets? How is bitcoin ever gonna work when quote in stinking shit fiat. I know, it's the exchange rate. But then, just make the price a live price which updates ever second based on the fiat price (if it is fiat what you are living for) |
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When the panic buys come and there is no Mt Gox to sell fractional reserve coins, how much faster will the price rise?
Interesting angle. and no China to fake ban Bitcoin But Russia instead |
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Nothing. Deleted
You know there is a button to delete the complete post do you? Just next to the edit button |
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Well when everyone is telling you OMG OMG OMG BUY BUY BUY and WE WILL NEVER SEE <1000 AGAIN, what do you think the point of those posts is? To get people who missed the train to panic and buy, obviously, when the correct play is to say "fuck it I missed the train, wait for it to come back."
I actually gave that advise once. A friend of mine called me to ask for the easiest way to convert 10k into bitcoin. It was his boss wanting to 'invest'. (somewhere when bitcoin did 700 in november) I told him to call his boss an absolute idiot who could better flush his cash into the toilet. What a dumb fuck that was,.. I was even feeling angry at the time, how could anyone invest in something they did not understand? I felt that I had to protect someone who was too stupid to figure out how to typ "how do I buy bitcoin" into google. But of course the over-enthusiastic (and possibly over-invested) people won't ever tell you that, because they want it to keep going up on the back of greater fools.
Yes of course! Because without poor no rich! |
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I know:
That he's a dumb idiot who sooner or later lost all his 'money' anyway.
You'd best not be so judgmental, considering it's dumb idiots like him that you're going to need to fuel any future bubbles. Once enough of those idiots stop being idiots, what happens to the price, then? He sounds pathetic, he is loving that paper money way too much to feel bad about the investment. He even says he is not in any financial problem or anything like that. The only thing left is his investment is less worth than what it was when he started. Well, we all would be gazillionaires if we were able to catch the bottom. Everybody lost a trade because you can't win all the time, then you should be called JPMorgan or something (because *they* can) To anyone in the same situation: stop whining, count your coins and keep them safe. But you're right, we need the idiots. But he's asking to be judged because he posts his story on a website. |
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I know: That he's a dumb idiot who sooner or later lost all his 'money' anyway. |
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I am telling you sub $330 BTC will never happen again. If it does I will never post in this thread again. Huge pumps are incoming in the next few mins / hours.
Only a whale or a gambler can make such predictions. get some popcorn and watch the show I'm too broke to have popcorn. I'm pretty much out of fiat. Hope you're right, I've been buying again since 550. |
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I am telling you sub $330 BTC will never happen again. If it does I will never post in this thread again. Huge pumps are incoming in the next few mins / hours.
Only a whale or a gambler can make such predictions. |
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The quality of the people involved with the sdiechain whitepaper shows that at least some prominent knowledgeable Bitcoiners recognize that altcoins technology is pretty interesting and even superior in many aspects to Bitcoin.
Just as no one knew where bitcoin would be a couple of years ago, no one knows where altcoins will be over the horizon. And the horizon is not that far away
I always think about ipv6 and ipv4 in this comparison. ipv6 is vastly superior to ipv4 but few people really know anything about it or are using it. Why should I go for ipv6 when ipv4 also works (I know there are benefits and more ip adresses)? And to compare it with cryptocurrency makes altcoins even less interesting in my opinion because there is value involved with bitcoin. People want their precious bitcoins to be valuable so there is even less incentive to move to alts, how brilliant they are. ipv4 = bitcoin ipv6 = brilliant mega super duper other unicorn coin |
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I didn't say that having only two nodes would be a good thing. Of course it's nice to have a lot of nodes. While the number of nodes might have reduced, it's nowhere near a level to be concerned about.
The network does not "require many functioning nodes". It requires two.
I would say Bitcoin is rotten to the core when there are only 2 honest nodes against 1 million dishonest. Without understanding the technicals behind it many people would be scared to death. Even with only two honest nodes, it is possible to combat double spends 100%.
Isn't this the same as saying: "if everybody on earth would be fair and honest we would not need jails?" |
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As long as two honest nodes exist, the network will function. However, this would also most likely indicate that there are only two miners securing the network and that could be a concern.
You will not stay BTC rich with only 2 nodes. Quoted from BTCfeed:"The main idea behind bitcoin and the reason that it took off is because of bitcoin’s decentralized nature and its peer-to-peer (P2P) network. In order to keep bitcoin running and validate transactions there need to be bitcoin nodes available on the network.
Bitcoin nodes are different from bitcoin miners or bitcoin clients. Bitcoin nodes provide security, one of which is security from double spending – when a user attempts to spend the same coin twice. The bitcoin network chooses random nodes and then has them verify the transaction and make sure the coins were not double spent.
Bitcoin not only needs nodes, it requires many functioning ones – nodes that have the bitcoin core client. Anybody can run a bitcoin node as long as you have access to a high quality server. You will need atleast 2GB of RAM and atleast 20GB of storage in order to be able to run the bitcoin client" |
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