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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 507889 times)
Anon136
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October 05, 2014, 03:31:37 AM
 #1941

The time is coming...

We are only 3-6 months away from the next massive spike... and it will exceed all of your wildest dreams.

baaa, it's almost touching the 200's now....depressing...where's the spike you promised?

Did you read my post? I said 3-6 months before it happens minimum.

Jeebus christ, Bitcoin is practically guaranteed to go to the moon next year and you guys are whining about cheap coins.

Either take advantage of the current situation or don't.

I think people often confuse bitcoin for crypto in general. The writing is on the wall for crypto. It solves myriad real world problems that nothing else that has ever been invented can, or anything that will be invented for quite some time likely will. To confuse crypto currency in general for bitcoin specifically however might end up getting a lot of people burned.

You are NOT being very specific in your critique, and what are the possible solutions to this?  Educate people about different crypto currencies?  They have NO incentive to be educated until they become more invested in the ideas and/or practices of crypto, no?    Are you proposing any forward direction?


I'm only suggesting that if sufficiently superior technology comes along than it will unseat bitcoin. The markets arn't going to wait until this actually happens to price in this risk. They are already pricing it in. Infact i think its very unlikely that such a sufficiently superior technology will not emerge at some point in the future. Bitcoin security cost is high, non adaptive and wasteful. Anonymity is expensive and perhaps even at large cost involves counter-party risk and/or is potentially insufficient for certain tasks. And perhaps there is the opportunity to develop blockchains like systems that scale better. Those are just some examples. What do you do about it? Keep your ear to the ground.

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited? Is there any process, procedure or ritual through which an immoral action can be legitimately transformed into a moral one with out changing the character of the action itself?
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October 05, 2014, 03:59:50 AM
 #1942

The time is coming...

We are only 3-6 months away from the next massive spike... and it will exceed all of your wildest dreams.

baaa, it's almost touching the 200's now....depressing...where's the spike you promised?

Did you read my post? I said 3-6 months before it happens minimum.

Jeebus christ, Bitcoin is practically guaranteed to go to the moon next year and you guys are whining about cheap coins.

Either take advantage of the current situation or don't.

I think people often confuse bitcoin for crypto in general. The writing is on the wall for crypto. It solves myriad real world problems that nothing else that has ever been invented can, or anything that will be invented for quite some time likely will. To confuse crypto currency in general for bitcoin specifically however might end up getting a lot of people burned.

You are NOT being very specific in your critique, and what are the possible solutions to this?  Educate people about different crypto currencies?  They have NO incentive to be educated until they become more invested in the ideas and/or practices of crypto, no?    Are you proposing any forward direction?


I'm only suggesting that if sufficiently superior technology comes along than it will unseat bitcoin. The markets arn't going to wait until this actually happens to price in this risk. They are already pricing it in. Infact i think its very unlikely that such a sufficiently superior technology will not emerge at some point in the future. Bitcoin security cost is high, non adaptive and wasteful. Anonymity is expensive and perhaps even at large cost involves counter-party risk and/or is potentially insufficient for certain tasks. And perhaps there is the opportunity to develop blockchains like systems that scale better. Those are just some examples. What do you do about it? Keep your ear to the ground.

I largely agree with what you are saying here; however, I will take a bit of an exception to what seems to be your assertion that bitcoin could be so jeopardized by some kind of better technology. 

In this regard, there remains a considerable advantage to first mover advantage and accordingly there would be various impediments to evolving redundant systems.  I cannot recall the exact computing power of the bitcoin network, but it is like a very large multitude the computing power of the top 500 computers in the world.  Surely, it would NOT be easy to transfer over to newer, better crypto systems because it would take a while to develop such systems, including network power.   Further, regarding some technological improvements, it would be possible for the bitcoin network to absorb some of these improvements with side chains or changes to the protocol or forks or some other adaptations... maybe NOT possible in all instances, but NOT out of the question.

I agree with your proposed solution to keep our ears to the ground because it is very likely that we would recognize some changes or needs to convert our investment into new systems b/c evolution of new systems is NOT likely to take place in a flash (and/or without some warnings). 

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October 05, 2014, 04:35:08 AM
 #1943

The time is coming...

We are only 3-6 months away from the next massive spike... and it will exceed all of your wildest dreams.

baaa, it's almost touching the 200's now....depressing...where's the spike you promised?

Did you read my post? I said 3-6 months before it happens minimum.

Jeebus christ, Bitcoin is practically guaranteed to go to the moon next year and you guys are whining about cheap coins.

Either take advantage of the current situation or don't.

I think people often confuse bitcoin for crypto in general. The writing is on the wall for crypto. It solves myriad real world problems that nothing else that has ever been invented can, or anything that will be invented for quite some time likely will. To confuse crypto currency in general for bitcoin specifically however might end up getting a lot of people burned.

You are NOT being very specific in your critique, and what are the possible solutions to this?  Educate people about different crypto currencies?  They have NO incentive to be educated until they become more invested in the ideas and/or practices of crypto, no?    Are you proposing any forward direction?


I'm only suggesting that if sufficiently superior technology comes along than it will unseat bitcoin. The markets arn't going to wait until this actually happens to price in this risk. They are already pricing it in. Infact i think its very unlikely that such a sufficiently superior technology will not emerge at some point in the future. Bitcoin security cost is high, non adaptive and wasteful. Anonymity is expensive and perhaps even at large cost involves counter-party risk and/or is potentially insufficient for certain tasks. And perhaps there is the opportunity to develop blockchains like systems that scale better. Those are just some examples. What do you do about it? Keep your ear to the ground.

I largely agree with what you are saying here; however, I will take a bit of an exception to what seems to be your assertion that bitcoin could be so jeopardized by some kind of better technology. 

In this regard, there remains a considerable advantage to first mover advantage and accordingly there would be various impediments to evolving redundant systems.  I cannot recall the exact computing power of the bitcoin network, but it is like a very large multitude the computing power of the top 500 computers in the world.  Surely, it would NOT be easy to transfer over to newer, better crypto systems because it would take a while to develop such systems, including network power.   Further, regarding some technological improvements, it would be possible for the bitcoin network to absorb some of these improvements with side chains or changes to the protocol or forks or some other adaptations... maybe NOT possible in all instances, but NOT out of the question.

I agree with your proposed solution to keep our ears to the ground because it is very likely that we would recognize some changes or needs to convert our investment into new systems b/c evolution of new systems is NOT likely to take place in a flash (and/or without some warnings). 

Notice my very specific use of the word sufficiently. I too give a lot of weight to the value of bitcoins network and infrastructure. That's why i still own a lot of it Smiley

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited? Is there any process, procedure or ritual through which an immoral action can be legitimately transformed into a moral one with out changing the character of the action itself?
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October 05, 2014, 04:59:56 AM
 #1944

The time is coming...

We are only 3-6 months away from the next massive spike... and it will exceed all of your wildest dreams.

baaa, it's almost touching the 200's now....depressing...where's the spike you promised?

Did you read my post? I said 3-6 months before it happens minimum.

Jeebus christ, Bitcoin is practically guaranteed to go to the moon next year and you guys are whining about cheap coins.

Either take advantage of the current situation or don't.

I think people often confuse bitcoin for crypto in general. The writing is on the wall for crypto. It solves myriad real world problems that nothing else that has ever been invented can, or anything that will be invented for quite some time likely will. To confuse crypto currency in general for bitcoin specifically however might end up getting a lot of people burned.

You are NOT being very specific in your critique, and what are the possible solutions to this?  Educate people about different crypto currencies?  They have NO incentive to be educated until they become more invested in the ideas and/or practices of crypto, no?    Are you proposing any forward direction?


I'm only suggesting that if sufficiently superior technology comes along than it will unseat bitcoin. The markets arn't going to wait until this actually happens to price in this risk. They are already pricing it in. Infact i think its very unlikely that such a sufficiently superior technology will not emerge at some point in the future. Bitcoin security cost is high, non adaptive and wasteful. Anonymity is expensive and perhaps even at large cost involves counter-party risk and/or is potentially insufficient for certain tasks. And perhaps there is the opportunity to develop blockchains like systems that scale better. Those are just some examples. What do you do about it? Keep your ear to the ground.

I largely agree with what you are saying here; however, I will take a bit of an exception to what seems to be your assertion that bitcoin could be so jeopardized by some kind of better technology.  

In this regard, there remains a considerable advantage to first mover advantage and accordingly there would be various impediments to evolving redundant systems.  I cannot recall the exact computing power of the bitcoin network, but it is like a very large multitude the computing power of the top 500 computers in the world.  Surely, it would NOT be easy to transfer over to newer, better crypto systems because it would take a while to develop such systems, including network power.   Further, regarding some technological improvements, it would be possible for the bitcoin network to absorb some of these improvements with side chains or changes to the protocol or forks or some other adaptations... maybe NOT possible in all instances, but NOT out of the question.

I agree with your proposed solution to keep our ears to the ground because it is very likely that we would recognize some changes or needs to convert our investment into new systems b/c evolution of new systems is NOT likely to take place in a flash (and/or without some warnings).  

Notice my very specific use of the word sufficiently. I too give a lot of weight to the value of bitcoins network and infrastructure. That's why i still own a lot of it Smiley


Noted... accordingly, our thinking is probably NOT too far apart, then.   Wink Wink

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October 05, 2014, 07:58:50 AM
 #1945



Pages of wealthy elite discussion
JayJuanGee
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October 05, 2014, 09:17:12 AM
 #1946



Pages of wealthy elite discussion

I'm NOT feeling too wealthy or elite at the current BTC prices.. currently, hovering in the $310s....

And, I am also feeling 99, rather than 100.   Cheesy Cheesy

testerx
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October 05, 2014, 12:12:41 PM
 #1947

Well, I'm mostly staring at heavy losses at this point and unfortunately it looks like I'd still be taxed on mining gains that don't actually exist since the price collapsed.  Kinda depressing at this point so definitely not feeling like any wealthy elite but fuck it, I'm gonna hold this till the bitter or not so bitter end. 
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October 05, 2014, 12:13:33 PM
 #1948

I'm NOT feeling too wealthy or elite at the current BTC prices.. currently, hovering in the $310s....

And, I am also feeling 99, rather than 100.   Cheesy Cheesy

Stop worrying about how many units of fiat currency (i.e. dollars) your BTC are "worth".  That just shows how brain-washed you are by the central-banker-ruling-elite you are.

Don't feel offended by my comment, bro.  You have lots of company.  Cool

You are in a maze of twisty little passages, all alike.
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October 05, 2014, 12:15:18 PM
 #1949

I'm NOT feeling too wealthy or elite at the current BTC prices.. currently, hovering in the $310s....

And, I am also feeling 99, rather than 100.   Cheesy Cheesy

Stop worrying about how many units of fiat currency (i.e. dollars) your BTC are "worth".  That just shows how brain-washed you are by the central-banker-ruling-elite you are.

Don't feel offended by my comment, bro.  You have lots of company.  Cool
Kinda hard not to worry when they collect taxes based on how much they're worth when you mined them.
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October 05, 2014, 12:17:45 PM
 #1950

I'm NOT feeling too wealthy or elite at the current BTC prices.. currently, hovering in the $310s....

And, I am also feeling 99, rather than 100.   Cheesy Cheesy

Stop worrying about how many units of fiat currency (i.e. dollars) your BTC are "worth".  That just shows how brain-washed you are by the central-banker-ruling-elite you are.

Don't feel offended by my comment, bro.  You have lots of company.  Cool
Kinda hard not to worry when they collect taxes based on how much they're worth when you mined them.

I'm confused.  Why are you reporting something that no one has any way of knowing about? 

You are in a maze of twisty little passages, all alike.
lucky88888
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October 05, 2014, 12:18:44 PM
 #1951

i kind of really need this bitcoin rally going again! so bring it on!

Fuck Mt.Gox! Fuck Mintpal! Fuck Bter! FUCK kyc! Protect yourself use MGW! SUPERNET!
Recommended ASSET ->InstantDex : Lead Dev Jl777 (decentralized multi currency instant exchange)
Recommended ASSET -> Jinn : Lead Dev Come-from-Beyond (ternary processors!)
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testerx
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October 05, 2014, 12:24:56 PM
 #1952

I'm NOT feeling too wealthy or elite at the current BTC prices.. currently, hovering in the $310s....

And, I am also feeling 99, rather than 100.   Cheesy Cheesy

Stop worrying about how many units of fiat currency (i.e. dollars) your BTC are "worth".  That just shows how brain-washed you are by the central-banker-ruling-elite you are.

Don't feel offended by my comment, bro.  You have lots of company.  Cool
Kinda hard not to worry when they collect taxes based on how much they're worth when you mined them.

I'm confused.  Why are you reporting something that no one has any way of knowing about?  

Probably because I don't feel like going to jail, lol.  If bitcoin really went to $100,000 each someday it'd be nice to have evidence that I mined it at a certain price lol.
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October 05, 2014, 01:18:10 PM
 #1953

I'm NOT feeling too wealthy or elite at the current BTC prices.. currently, hovering in the $310s....

And, I am also feeling 99, rather than 100.   Cheesy Cheesy

Stop worrying about how many units of fiat currency (i.e. dollars) your BTC are "worth".  That just shows how brain-washed you are by the central-banker-ruling-elite you are.

Don't feel offended by my comment, bro.  You have lots of company.  Cool
Kinda hard not to worry when they collect taxes based on how much they're worth when you mined them.

I'm confused.  Why are you reporting something that no one has any way of knowing about?  

Probably because I don't feel like going to jail, lol.  If bitcoin really went to $100,000 each someday it'd be nice to have evidence that I mined it at a certain price lol.

Society hasn't advanced any since medieval times. We're still worried about the feudal lord throwing us in the dungeon if we don't share our crops with him.

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October 05, 2014, 02:40:13 PM
 #1954

Alright me too Smiley

Smiley
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October 05, 2014, 02:42:09 PM
 #1955

Society hasn't advanced any since medieval times. We're still worried about the feudal lord throwing us in the dungeon if we don't share our crops with him.
Well, it's advanced some. Violence-based slavery has evolved into indoctrination/deception/coercion based wage-slavery. But the fundamentals of society remain the same: legitimized violence governs all from the top down.

"Civilization is based on a clearly defined and widely accepted yet often unarticulated hierarchy. Violence done by those higher on the hierarchy to those lower is nearly always invisible, that is, unnoticed. When it is noticed, it is fully rationalized. Violence done by those lower on the hierarchy to those higher is unthinkable, and when it does occur is regarded with shock, horror, and the fetishization of the victims. The property of those higher on the hierarchy is more valuable than the lives of those below. It is acceptable for those above to increase the amount of property they control—in everyday language, to make money—by destroying or taking the lives of those below. This is called production. If those below damage the property of those above, those above may kill or otherwise destroy the lives of those below. This is called justice."
-Derrick Jensen

I believe this is going to change within our lifetimes, though. I believe the information age we have just entered is the exit from a world governed primarily by violence and secondarily by reason.

Hopefully we'll survive long enough to see a society governed solely by reason, with violence becoming universally repugnant instead of hyper-fetishized as it is now.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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October 05, 2014, 02:43:20 PM
 #1956


Here is your average internet girl:




That is hillarious!!!   Cheesy Cheesy Cheesy And, even if there happens to be a girl or two on the internets, these one or two girls should also find this post to be funny... but how am I to get into the mind(s) of the fairer ones?

Yep Smiley I Look prettier than that though....

Smiley
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October 05, 2014, 02:56:17 PM
 #1957

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October 05, 2014, 04:06:08 PM
 #1958


Here is your average internet girl:




That is hillarious!!!   Cheesy Cheesy Cheesy And, even if there happens to be a girl or two on the internets, these one or two girls should also find this post to be funny... but how am I to get into the mind(s) of the fairer ones?

Yep Smiley I Look prettier than that though....

I hope so. You would need some sort of birth defect to look worse.  Grin

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October 05, 2014, 04:55:15 PM
 #1959


Here is your average internet girl:




That is hillarious!!!   Cheesy Cheesy Cheesy And, even if there happens to be a girl or two on the internets, these one or two girls should also find this post to be funny... but how am I to get into the mind(s) of the fairer ones?

Yep Smiley I Look prettier than that though....

I hope so. You would need some sort of birth defect to look worse.  Grin



birth defect, you mean, like a weiner...?

Smiley
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October 05, 2014, 05:09:51 PM
 #1960

Yeah, that might do it. lol

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