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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 508307 times)
jbreher
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July 26, 2015, 07:47:49 AM
 #2921

A link? You dont have anything to say about where i am wrong?

You have already named one use case where Bitcoin is uniquely valuable to you. Use your brain...

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.
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Hopalong
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July 26, 2015, 07:52:03 AM
 #2922

A link? You dont have anything to say about where i am wrong?

You have already named one use case where Bitcoin is uniquely valuable to you. Use your brain...

I never said bitcoin is not valuable or useful. It is a great tech.
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August 04, 2015, 05:47:15 AM
 #2923

Bitcoin may (barring another coin taking over, legal troubles,  fatal technical problems, or a fatal 51% attack ) possibly appreciate 'forever' given its fixed supply and growing demand.  Strong hands that realize this will profit greatly if true.
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August 14, 2015, 05:27:52 AM
 #2924

Bitcoin may (barring another coin taking over, legal troubles,  fatal technical problems, or a fatal 51% attack ) possibly appreciate 'forever' given its fixed supply and growing demand.  Strong hands that realize this will profit greatly if true.

If bitcoin is  more useful in the future, it will appreciate.
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September 03, 2015, 05:23:02 AM
 #2925

Very amusing.

What you fail to notice is the fact that BTC is in a slow descent, with no bottom in sight.

Let's talk through the scenario, BTC keeps dropping (down 49% since July 3rd) that's more than 10% a month.

In response to that what is happening?

People spending their BTC? NO!

People selling their BTC? YES!

People continuing to hoard BTC waiting for it to come back? YES!

People mining any great quantity of BTC on their own? NO!

People cloud mining making tiny BTC profits? YES!

These things above never change and if they don't then BTC will be $150 in 4 months, then it becomes cost prohibitive for anyone but the huge farms like KNC to mine.

By June BTC will be down in the double digits ($85ish) and no one will be interested in it any longer.

You heard it here.



Seems like you've lost your drive & hunger for Bitcoin....what you don't understand is Bitcoin isn't just about how much it's worth. It's a concept which at the moment is suceeding maybe not on a huge level but if someone told you about this new concept 6 years ago and said within this amount of time it would reach highs of $1000 you would of laughed.
All it takes at the moment is a whale to delve into Bitcoin and spend a huge amount which will raise the value and bring more attention from media which means more people will be interested in Bitcoin....or we have a major hack again or something similar of nature which would again bring media attention which would be seen by millions & again even though it's bad news many more people will of heard of Bitcoin and will search up on it.
You might be right it dropping down to double digits...but your not right on people not buying...a huge lot of people are buying Bitcoin. What I think is happening is a lot of people are using the payment processor bitpay which sells their Bitcoin for fiat as soon as they recieve it which decreases the value of Bitcoin. If people stop using bitpay & similar companies then we should see a rise again. Everyone thought bitpay was a great company but in actual facts it's damagining the Bitcoin value & community in general. There are a number of other major factors like more sell orders than buy order but thats obvious & talked about far more often than the point I brought up.



Pissedoff:   I agree with some of your assessment, but NOT all of it.

Personally, I believe what is causing the price to go down is manipulation, and there are some that want to continue to push the prices of BTC down so that they can continue to accumulate and at some point (maybe 1 month from NOW or maybe 6 months or possibly longer), there will be attempts to manipulate in the opposite (upwards direction)... One large whale would be within his/her power to manipulate the price upwards into the $3k to $5k territory, b/c was the price starts to go upward, there will be other whales ready and willing to jump on board.

Really, bitpay and similar are good for bitcoin because they cause liquidation opportunities - which people need to have in order to have additional confidence in BTC when prices go to the next upward level.   Surely, if people are NOW using bitpay and similar to liquidate and they are NOT replacing their coins, then surely, you are correct that those services are merely being used to sell coins... but really, I doubt that those services of bitpay and similar are what really is causing downward price pressures... you can watch the market and see that the downward pressure comes from the purposeful and strategic attempts to dump large quantities of coins on exchanges, and while that conduct remains profitable, that exchange dumping conduct is going to continue.

Additionally, some of these dumpers are accumulating coins on the sly.. so that they will have plenty of coins when the time comes for the upward momentum.


You don't have to agree with any of it, you just have to keep watching and realize I was right then, and I am right now.

BTC=$80 by June

Its down $100 since the last time I told you, in 2 months it will be down another $100

Looks like a little while since I had responded to you (and I'm just catching up on reading the latest posts in this thread), and I wanted to reiterate my current considerations.

I believe that btc prices  floating largely between $220 and $290 for more than 8 months now has shown us, for the most part, the bottom of btc prices.

I continue to NOT know for sure the short term direction of btc prices.

 Of course it's possible that Bitcoin will experience more than a few more days below $220; however, it seems more likely that the $220 to $290 range will remain the bottom, and the future (may take another several months) will find btc prices breaking up and out of the $220 to $290 range and into more prosperous territories.

That's where I'm currently placing my bets on the upward direction of btc prices (at least in what I believe to be, for my own financial position to be a hedged and cautionary way ).

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September 03, 2015, 04:55:17 PM
 #2926

Not sure if I said it in this thread yet, but 0.003 is about the fair share of BTC per person on the planet, so 0.3 puts you in the 1%

What you are saying is that top 1% on the planet Earth cannot have more than 0.3 BTC on average, but it does not say what % of their net work will be in bitcoin.
To be in the top 1% in the world, you need ~$780,000 in wealth
If only 5% of their wealth would be in BTC (similar % to gold), it would mean $39000 in BTC per each 1% person.
With 39K=0.3 BTC, it would mean price of BTC of $130000
In other words, for BTC value to be enough to represent just 5% in 1% wealthiest Earth inhabitants portfolio, the value of BTC HAS to reach $130000.
but every person in the top 1% doesnt buy btc, let alone throw 5% of their money in btc.

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September 03, 2015, 07:34:20 PM
 #2927

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.

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September 03, 2015, 07:38:43 PM
 #2928

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

http://lolpics.se/pics/482.jpg

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, 08:43:27 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.

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September 03, 2015, 08:46:44 PM
 #2930

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
 #2931

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?

randy8777
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September 03, 2015, 09:23:14 PM
 #2932

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
 #2933

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

Quote from: Gavin Andresen
I woulda thunk you were old enough to be confident that technology DOES improve. In fits and starts, but over the long term it definitely gets better.
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September 04, 2015, 02:00:01 AM
 #2934

Even now in 2015, we are only at the tip of the iceberg.
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September 04, 2015, 02:22:00 AM
 #2935

 yes greed is good but a non fiat is better
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September 04, 2015, 08:11:14 PM
 #2936

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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Move On !!!!!!


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September 04, 2015, 08:39:21 PM
 #2937

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..
killerjoegreece
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September 11, 2015, 08:42:19 AM
 #2938

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

★★★ GREEK★★★TRANSLATIONS ★★★
FAST ★★★ FLAWLESS ★★★ CHEAP ★★★ https://bitcointalk.org/index.php?topic=1175769.new#new
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September 11, 2015, 12:28:37 PM
 #2939

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
 #2940

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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