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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 608381 times)
maxcarjuzaa
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September 03, 2015, 08:43:27 PM
 #2921

I have never seen a boom and bust that wasn't perpetuated by government involvement. Bitcoin is immune from such things.



Oh Atlas, you really were a stupid little troll. Too bad your suicide was as big a failure as your life.

Tomorrow, the UK & USA decide to make investing in Bitcoin illegal, punished by life imprisonment.

Suddenly, Bitcoin crashes and becomes obsolete. Government wins.

Just because you think it would be unethical to do so, doesn't mean that the Government CAN'T and WON'T do something so dramatic.. I'll expect to see very strict regulation when companies start dealing in BTC more frequently and the governments catch wind that companies aren't paying tax. I expect that companies will be required to publicly disclose all bitcoin addresses they own to the government - and so the government will get involved.

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September 03, 2015, 08:46:44 PM
 #2922

I have never seen a boom and bust that wasn't perpetuated by government involvement. Bitcoin is immune from such things.



Oh Atlas, you really were a stupid little troll. Too bad your suicide was as big a failure as your life.

Tomorrow, the UK & USA decide to make investing in Bitcoin illegal, punished by life imprisonment.

Suddenly, Bitcoin crashes and becomes obsolete. Government wins.

Just because you think it would be unethical to do so, doesn't mean that the Government CAN'T and WON'T do something so dramatic.. I'll expect to see very strict regulation when companies start dealing in BTC more frequently and the governments catch wind that companies aren't paying tax. I expect that companies will be required to publicly disclose all bitcoin addresses they own to the government - and so the government will get involved.

There's never been a boom and bust that wasn't perpetuated by government involvement, except every one that's happened to Bitcoin. Yes Atlas, Bitcoin is so immune that it's no longer worth $1,200. lol

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September 03, 2015, 08:49:16 PM
 #2923

How is this thread still going from 2011...are you all really that salty that you can't stop talking about the price instead of talking about all the uses it still has?

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September 03, 2015, 09:23:14 PM
 #2924

How is this thread still going from 2011...are you all really that salty that you can't stop talking about the price instead of talking about all the uses it still has?

for a lot people the price is the most important aspect of bitcoin. their first priority is the potential profit that they can make. actual bitcoin usage comes second.
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September 03, 2015, 09:24:05 PM
 #2925

How is this thread still going from 2011...are you all really that salty that you can't stop talking about the price instead of talking about all the uses it still has?

Greed is good? Tongue

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September 04, 2015, 02:00:01 AM
 #2926

Even now in 2015, we are only at the tip of the iceberg.
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September 04, 2015, 02:22:00 AM
 #2927

 yes greed is good but a non fiat is better
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September 04, 2015, 08:11:14 PM
 #2928

I have never seen a boom and bust that wasn't perpetuated by government involvement. Bitcoin is immune from such things.



Oh Atlas, you really were a stupid little troll. Too bad your suicide was as big a failure as your life.

Tomorrow, the UK & USA decide to make investing in Bitcoin illegal, punished by life imprisonment.

Suddenly, Bitcoin crashes and becomes obsolete. Government wins.

Just because you think it would be unethical to do so, doesn't mean that the Government CAN'T and WON'T do something so dramatic.. I'll expect to see very strict regulation when companies start dealing in BTC more frequently and the governments catch wind that companies aren't paying tax. I expect that companies will be required to publicly disclose all bitcoin addresses they own to the government - and so the government will get involved.


If history has taught us anything is that Prohibition of anything doesn't actually work
Banning something popular has never worked with alcohol, weed, prostitution, piracy or anything else
They only fuel the consumption by driving it underground and putting control of it into the hands of organised criminals
Its better to semi regulate it so they can at least get some tax from the honest users and  companies

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September 04, 2015, 08:39:21 PM
 #2929

I have never seen a boom and bust that wasn't perpetuated by government involvement. Bitcoin is immune from such things.



Oh Atlas, you really were a stupid little troll. Too bad your suicide was as big a failure as your life.

Tomorrow, the UK & USA decide to make investing in Bitcoin illegal, punished by life imprisonment.

Suddenly, Bitcoin crashes and becomes obsolete. Government wins.

Just because you think it would be unethical to do so, doesn't mean that the Government CAN'T and WON'T do something so dramatic.. I'll expect to see very strict regulation when companies start dealing in BTC more frequently and the governments catch wind that companies aren't paying tax. I expect that companies will be required to publicly disclose all bitcoin addresses they own to the government - and so the government will get involved.


If history has taught us anything is that Prohibition of anything doesn't actually work
Banning something popular has never worked with alcohol, weed, prostitution, piracy or anything else
They only fuel the consumption by driving it underground and putting control of it into the hands of organised criminals
Its better to semi regulate it so they can at least get some tax from the honest users and  companies



Exactly this, if they wanted to ban it, they would have banned it until now. They wouldn't let all these investments pour into Bitcoin ecosystem and all these banks that have started looking and researching the blockchain technology.

Even if they decide to ban it tomorrow, they won't do s**t. You can't ban decentralized systems. Look at Internet, bittorrent, etc..
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September 11, 2015, 08:42:19 AM
 #2930

bitcoin will have a great future. all we need to do is have better consensus mechanisms.

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September 11, 2015, 12:28:37 PM
 #2931

Yeah, assuming bitcoin ever does become a stable currency. It's going to take decades because all the big profit maker would be at some point, they will try to sell their coins and to book the profits. I believe that speculation and to get rich quicker drive crashes too. Ultimately the market value of a coin is the only value of a coin.
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October 17, 2015, 03:10:41 AM
 #2932

I'm sure that there will continue to be bears in our midst, even while BTC prices are breaking out of the dull-drums. 

likely, we really are NOT out of the woods until $350-ish - and even then, I wonder.

I also wonder whether the early November Fed auction of 44,000-ish coins is going to hold off our "gentlemen" status for a little bit?

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October 17, 2015, 03:13:21 AM
 #2933


I also wonder whether the early November Fed auction of 44,000-ish coins is going to hold off our "gentlemen" status for a little bit?

Why? We know they go to serious bidders and even more serious bidders never manage to get their hands on them. They're a total irrelevance to active markets.

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October 17, 2015, 03:41:04 AM
 #2934


I also wonder whether the early November Fed auction of 44,000-ish coins is going to hold off our "gentlemen" status for a little bit?

Why? We know they go to serious bidders and even more serious bidders never manage to get their hands on them. They're a total irrelevance to active markets.

I don't really disagree with your point; however, I think that many times in these various threads on the forum, we frequently had been discussing the various fed auctions as affecting BTC prices.

Surely, each time we have an auction the circumstances are a bit different, and the affect may be quite different this time around.... at least, I have NO problem with the price going up and bidders to pay fair market value based on the then competitive rate.

I also don't really have any problem with the govt receiving the proceeds - except for some of the potential unjust circumstances of this whole matter concerning the treatment of Ross Ubricht and the ambiguities (and seeming selective enforcement of various laws). 

Anyhow, in the end, maybe we are all somewhat getting used to some of these BTC auctioning scenarios... and the BTC price point will accordingly be allowed to proceed upwardly, in spite of  such dynamics of additional btc coming into the space.

mtnsaa
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October 17, 2015, 03:50:09 AM
 #2935

If Bitcoin wasn't banned during the Silk Road fiasco then I find it very improbable that they will ban it now that it's accepted by companies like Microsoft, eBay and others. Plus there are a lot of other companies and billionaires that invested large sums on it. However, the nature of digital currencies and "anonymous" transactions will always appeal to money laundering activities in my opinion so it's not out of the question.
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October 17, 2015, 03:58:16 AM
 #2936

If Bitcoin wasn't banned during the Silk Road fiasco then I find it very improbable that they will ban it now that it's accepted by companies like Microsoft, eBay and others. Plus there are a lot of other companies and billionaires that invested large sums on it. However, the nature of digital currencies and "anonymous" transactions will always appeal to money laundering activities in my opinion so it's not out of the question.


We are NOT really referring to any kind of ban here (and yes, there is less worry about any kind of outright ban in recent years). 

Nonetheless many of us realize that there is plenty of hostilities from governments towards bitcoin - even though these various auctions seem to demonstrate, with facts, some of the opposite regarding the government's official recognition of bitcoin as something that can be auctioned off.

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October 17, 2015, 04:16:17 AM
 #2937

I have never seen a boom and bust that wasn't perpetuated by government involvement. Bitcoin is immune from such things.
Tomorrow, the UK & USA decide to make investing in Bitcoin illegal, punished by life imprisonment.

Suddenly, Bitcoin crashes and becomes obsolete. Government wins.
USSR banned dollars but it didnt stop them being used anyway.   I dont think its that simple, it depends on the bitcoin economy outside the reach of the ban.   Bitcoin is banned in some countries usually where dollars are restricted in their circulation
Also you have to weigh the usefulness of bitcoin between people in that banned country territory.  If somehow the currency saves them alot of work, stops losses from their flawed national currency then you have alot of demand and people will find a way usually.  Bitcoin wallets I think can be passed on usb sticks if need be though it requires more trust, its possible distribution continues anyway even if it were possible to restrict from any live network



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October 17, 2015, 05:05:08 AM
 #2938

I have never seen a boom and bust that wasn't perpetuated by government involvement. Bitcoin is immune from such things.
Tomorrow, the UK & USA decide to make investing in Bitcoin illegal, punished by life imprisonment.

Suddenly, Bitcoin crashes and becomes obsolete. Government wins.
USSR banned dollars but it didnt stop them being used anyway.   I dont think its that simple, it depends on the bitcoin economy outside the reach of the ban.   Bitcoin is banned in some countries usually where dollars are restricted in their circulation
Also you have to weigh the usefulness of bitcoin between people in that banned country territory.  If somehow the currency saves them alot of work, stops losses from their flawed national currency then you have alot of demand and people will find a way usually.  Bitcoin wallets I think can be passed on usb sticks if need be though it requires more trust, its possible distribution continues anyway even if it were possible to restrict from any live network

yes..ban something and it goes down in value, eg drugs.

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October 17, 2015, 08:39:28 AM
 #2939


I also wonder whether the early November Fed auction of 44,000-ish coins is going to hold off our "gentlemen" status for a little bit?

Why? We know they go to serious bidders and even more serious bidders never manage to get their hands on them. They're a total irrelevance to active markets.

When the overhang is cleared, price could rise.
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October 17, 2015, 10:44:18 AM
 #2940

Agreed with you that we are one of the new wealthy community. Previously many people sold their btc when it hits $1000 mark in order to book the profit, in coming days if the btc prices are increased then people will again sell their btc but the people who are holding the bictoins will definitely became the wealthiest in the long run.

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