Bitcoin is a game of conviction

[Robert Paulson]

Its as simple as that, whoever has the conviction to believe in honest money will eventually end up very wealthy.
its hard to hold through all the booms and busts, just ask anyone who bought at 1$ and sold at 10$.

[Amph]

in other simple words, keep holding and you will become rich right? that's what every one should do, leave the whales eat each other, while we hold forever

[umairsaleem]

Its as simple as that, whoever has the conviction to believe in honest money will eventually end up very wealthy.
its hard to hold through all the booms and busts, just ask anyone who bought at 1$ and sold at 10$.

It's hard to say, for those who bought at 1~10$ and sold at 1000$, Bitcoin is already a gold to them while for those who bought at 1000$ and sold at 200 or so, Bitcoin is still nothing or shity to them.

[unsoindovo]

here's a basic misunderstanding.
The wealth of bitcoin is decentralization!!!
Many people just want to get rich with bitcoin buying to $ 1 and selling at $ 10.
but at the end, will only have dollars ... and will always be slaves of central power of the banks.

that's all.

[futureofbitcoin]

here's a basic misunderstanding.
The wealth of bitcoin is decentralization!!!
Many people just want to get rich with bitcoin buying to $ 1 and selling at $ 10.
but at the end, will only have dollars ... and will always be slaves of central power of the banks.

that's all.

What's your definition of slave? You can equally say that bitcoiners are slaves of bitcoins.

[Mervyn_Pumpkinhead]

In the mind of a bitcoiner, "honest money" is about making a bunch of speculators rich, who do nothing but buy, and then sit on their arse and hope really-really hard to become successful.

It's not like a honest monetary system should be about rewarding those, who actually contribute something useful to society. Let's all start to feed the honest leeches that are called bitcoiners. Their virtuous quests for easy riches are full of honesty and integrity.

[unsoindovo]

here's a basic misunderstanding.
The wealth of bitcoin is decentralization!!!
Many people just want to get rich with bitcoin buying to $ 1 and selling at $ 10.
but at the end, will only have dollars ... and will always be slaves of central power of the banks.

that's all.

What's your definition of slave? You can equally say that bitcoiners are slaves of bitcoins.

absolutely NO!
if you wan to do a payment, you do not need a third part bank services...
you manage your wallet.
you manage the payment.

remeber: decentralization it is the key!

that's all.

[uki]

Its as simple as that, whoever has the conviction to believe in honest money will eventually end up very wealthy.
its hard to hold through all the booms and busts, just ask anyone who bought at 1$ and sold at 10$.
-snip-

Whereas I agree in general with what you wrote the fact is that most of the rise behind Bitcoin so far was driven by illegal, or semi-legal businesses and pure speculation which has very little to do with the 'honest money'.

[futureofbitcoin]

here's a basic misunderstanding.
The wealth of bitcoin is decentralization!!!
Many people just want to get rich with bitcoin buying to $ 1 and selling at $ 10.
but at the end, will only have dollars ... and will always be slaves of central power of the banks.

that's all.

What's your definition of slave? You can equally say that bitcoiners are slaves of bitcoins.

absolutely NO!
if you wan to do a payment, you do not need a third part bank services...
you manage your wallet.
you manage the payment.

remeber: decentralization it is the key!

that's all.

I don't need a bank to manage my wallet either. I use a bank because it gives convenient services. Decentralization is completely overrated.

[Whitehouse]

Its as simple as that, whoever has the conviction to believe in honest money will eventually end up very wealthy.
its hard to hold through all the booms and busts, just ask anyone who bought at 1$ and sold at 10$.

Some say conviction others say delusion. I think there's a good chance that those who believe in bitcoin will see a great return at some point in the future but its by no means guaranteed. I certainly believe in the potential of bitcoin but the real question is do the rest of the world? Sadly the general public don't seem to be the smartest among us.

[redsn0w]

Let me ask you one thing:

Who is that gives value to a "thing"? I think we are giving value to each thing in our life. The problem with the fiat value is that people are giving value to a piece of sheet so Why can't we give value to a byte (data)?

[Robert Paulson]

In the mind of a bitcoiner, "honest money" is about making a bunch of speculators rich, who do nothing but buy, and then sit on their arse and hope really-really hard to become successful.

It's not like a honest monetary system should be about rewarding those, who actually contribute something useful to society. Let's all start to feed the honest leeches that are called bitcoiners. Their virtuous quests for easy riches are full of honesty and integrity.

honest money is a type of money where you can't just print more of it and redistribute the purchasing power arbitrarily.

you have to understand that an economy can not function properly when capital is allocated according to the whims of politicians and bureaucrats at a central bank.
it has to be allocated according to supply and demand so that production of what people demand can occur.

in particular the interest rate has to be set by the market according to the supply and demand of savings.

the people who understand these basic truths and understand why bitcoin is more functional than gold will make a fortune.

[dropt]

honest money is a type of money where you can't just print more of it and redistribute the purchasing power arbitrarily.

you have to understand that an economy can not function properly when capital is allocated according to the whims of politicians and bureaucrats at a central bank.
it has to be allocated according to supply and demand so that production of what people demand can occur.

in particular the interest rate has to be set by the market according to the supply and demand of savings.

the people who understand these basic truths and understand why bitcoin is more functional than gold will make a fortune.

Don't quote the trolls unless you want to end up on ignore lists with them.

[Anotherthing]

>Re: Bitcoin is a game of conviction

As in "becoming a convict" you mean?  Like Charlie Shrem, the Vice Chairman of Bitcoin Foundation?

[Mervyn_Pumpkinhead]

honest money is a type of money where you can't just print more of it and redistribute the purchasing power arbitrarily.

Your "honest money" is something that lacks dynamic supply. Dynamic supply that is ESSENTIAL for any currency to have stable and predictable value in a dynamic economy.

you have to understand that an economy can not function properly when capital is allocated according to the whims of politicians and bureaucrats at a central bank.
it has to be allocated according to supply and demand so that production of what people demand can occur.

I agree that the rules of the economy should be neutral from politics and corrupts that goes with politics. But if bitcoin would actually replace fiat, then those same corrupt politics would have a lot more power then they had before. Bitcoin is valued almost purely on speculation, so in the Game of Bitcoin, the winners are those who have more and those know how to manipulate the markets. Bitcoin wouldn't solve the problem of concentrated power, but it would make it a lot worse. If you are currently unhappy how the sharks of the stock markets are getting rich at others expense, then these sharks would be the absolute rulers of the economy.

in particular the interest rate has to be set by the market according to the supply and demand of savings.

the people who understand these basic truths and understand why bitcoin is more functional than gold will make a fortune.

Gold has always been a terrible way to store value or transfer value.
Gold has been good for several things, like: 1) Electronics 2) Jewellery 3) Speculation
Because bitcoin lacks the mechanism to keep a stable and predictable value, it's a very low quality currency, that is only good for one thing - speculation. Gold will remain valuable because of 1) and 2), and speculation will still last over this metal through centuries. Bitcoin will get old and boring pretty fast though. New practical forms of digital currencies will come out, and they will attract people with it's easy and safe use, not by it's promises of easy riches. These currencies will spread fast because of their practicality. No cults will be needed and no promises will be made for the lazy, that by joining, they would become rich without working.

[Robert Paulson]

neither supply nor demand of anything are predictable and stable why should prices be?
prices need to reflect the change in supply and demand, thats why any attempt to make prices stable is nothing but a distortion of the market and the will of consumers.

its exactly because bitcoin's supply is completely predictable and not dynamic that its such a good form of money, things priced in bitcoin reflect exactly the balance between supply and demand without anyone manipulating it by increasing or decreasing the amount of money.

[unsoindovo]

Let me ask you one thing:

Who is that gives value to a "thing"? I think we are giving value to each thing in our life. The problem with the fiat value is that people are giving value to a piece of sheet so Why can't we give value to a byte (data)?

maybe because the majority of people are blind...
and the bitcoin community will educate to this new currency protocol,

then people will understand.

[Amph]

Let me ask you one thing:

Who is that gives value to a "thing"? I think we are giving value to each thing in our life. The problem with the fiat value is that people are giving value to a piece of sheet so Why can't we give value to a byte (data)?

not to a piece of shit, but to something that is losing value, that's the funny thing, it is as if you eat your vomit

you see the no sense, that the government has build in all those years? completely stupid

[coolbeans94]

90% of all the gold in the world is owned by the Vatican. Buying gold just gives them more power. They literally own 10x as much gold as all the rest of the worlds gold supply. -source: assasinated ex Jesuit Priest Roberto Rivera

[ElectricMucus]

not a cult, not a cult, not a cult