So you think you're going to start a Bitcoin business, right?

[ShireSilver]

Well, considering I can count to 31 on one hand, that's still a decent amount of them.

You know of 31 different people that you would willingly loan 10,000BTC? I can think of maybe 5.

That's your question?  I was wondering how he had 31 fingers on one hand...

Lol no he's using a binary that's basically 2^(number of fingers you use). On one hand, that means counting to 31. If he had 31 fingers, he could count to 2.1Billion!

Bingo!

[crazyates]

Well, take this with a grain of salt as I am not Nostradamus or Merlin or anything, but: Bitcoin started as some bullshit nonsense (not in fact, but in the eyes of the world). A year or so of diligent work by dedicated people (you know, the geeks working on client etc) slowly changed this, and suddenly a section of the general population felt very empowered. Any anonymous bank clerk thought himself promoted to bank manager because Bitcoin. Any half-literate chav felt ready to open a stock exchange. Because Bitcoin, and his own partial understanding thereof makes him special enough.

These people weren't rich, weren't educated, weren't experienced or intellectually sophisticated or more generally speaking...these people had no social value, practically (which explains why they sought their value in Bitcoin: same reason the US was originally colonized, same reason anything new happens). As such, they constructed the usual buildings of the stupid, creating fake agreement, inventing their own version of political correctness and so forth. The divergence between reality such as it was and the very limited abilities of representation that they possessed increased over time and eventually allowed swindlers slightly more savvy than the average rock to wreak all sorts of havoc.

The imaginary towers built on the shoddy representations of shoddy minds came tumbling down, and after Pirate you've seen all these wanna-bes collapsing one after another. They're too many to list here and possibly not worth the mention anyway.

The people that are left are...well...the people that are left. But for what it's worth I don't think intent enters much into it at all, so far. What we've had were idiots who honestly thought they're good enough, like Kludge, like Harnett, like who have you. They weren't good enough. That's pretty much all.

I don't necessarily disagree with you, but you make it sound like the glory days of Bitcoin are behind us. Sure, I was just a baby when a bunch of weirdos started playing their metal in the 80s, but it shaped the face of music for decades to come. As the excitement and novelty of Bitcoins wear off, we start to move toward an even more important phase: How are bitcoins incorporated into our everyday lives? We're just BARELY starting to get to that point.

[MPOE-PR]

I don't necessarily disagree with you, but you make it sound like the glory days of Bitcoin are behind us. Sure, I was just a baby when a bunch of weirdos started playing their metal in the 80s, but it shaped the face of music for decades to come. As the excitement and novelty of Bitcoins wear off, we start to move toward an even more important phase: How are bitcoins incorporated into our everyday lives? We're just BARELY starting to get to that point.

I'd have said the stupid days of Bitcoin are behind us. Sorta like how the Van Buren crisis brought an end to the stupid days of America.

[Inaba]

I'd have said the stupid days of Bitcoin are behind us. Sorta like how the Van Buren crisis brought an end to the stupid days of America.

We know that's not the case though... you're still here.

[digital]

lol

[Rassah]

Watching. Your original post made me rethink on how I should be pursuing my idea, regarding keeping it secret. Guess I'll have to post about it.
I'd like to think that the last 6 months have cleared out the incompetence from the community, too, but, alas, we have such things as newbies. They're everywhere, always arriving just in time to do something stupid and ruin everyone's day.

[paraipan]

Watching. Your original post made me retching on how I should be pursuing my idea, regarding keeping it secret. Guess I'll have to post about it.
I'd like to think that the last 6 months have cleared out the incompetence from the community, too, but, alas, we have such things as newbies. They're everywhere, always arriving just in time to do something stupid and ruin everyone's day.

lol, true but doing stupid things it's the only way we can learn some very good lessons and be able to watch out for ourselves, hence leaving the "nanny" state behind.

[MPOE-PR]

We know that's not the case though... you're still here.

Don't you have some nonsense to spout somewhere about that company of yours that everyone knows has recently failed, Rakim?

I'd like to think that the last 6 months have cleared out the incompetence from the community, too, but, alas, we have such things as newbies.

Ah but you see, it hasn't cleared out the incompetence, that's not something that can be done. It has however significantly dented the expectation of equality (two years ago people honestly thought that everyone can do everything just as well as everyone else) and it has pretty much wiped both the Bitcoin balances and the subjective courage of the idiots that found themselves propelled to the spotlight by the vagaries of chance.

[Rassah]

^^ TL,DR:  Dumbasses got propelled into the propellers of the Bitcoin capitalist engine. *Bzzzzzzzzzzzzz*

[Inaba]

We know that's not the case though... you're still here.

Don't you have some nonsense to spout somewhere about that company of yours that everyone knows has recently failed, Rakim?

I'd like to think that the last 6 months have cleared out the incompetence from the community, too, but, alas, we have such things as newbies.

Ah but you see, it hasn't cleared out the incompetence, that's not something that can be done. It has however significantly dented the expectation of equality (two years ago people honestly thought that everyone can do everything just as well as everyone else) and it has pretty much wiped both the Bitcoin balances and the subjective courage of the idiots that found themselves propelled to the spotlight by the vagaries of chance.

Tell me again out MPEx is worth 45 million dollars (or was that 4.5 Billion?   Your math was a little fuzzy) and how it's the most successful, valued company in the known bitcoin world, more than MtGox, Bitpay, et al.  I love to hear this fairytale, I can't get enough of it.  lol

[MPOE-PR]

^^ TL,DR:  Dumbasses got propelled into the propellers of the Bitcoin capitalist engine. *Bzzzzzzzzzzzzz*

Exactly.

Tell me again out MPEx is worth 45 million dollars (or was that 4.5 Billion?   Your math was a little fuzzy) and how it's the most successful, valued company in the known bitcoin world, more than MtGox, Bitpay, et al.  I love to hear this fairytale, I can't get enough of it.  lol

Your math has one thing in common with goat's math. For a cookie, guess what. For a slap with a trout, explain how come. For irony, pretend other people's math is "fuzzy" < done.

Carry on.

[digital]

^^ TL,DR:  Dumbasses got propelled into the propellers of the Bitcoin capitalist engine. *Bzzzzzzzzzzzzz*

Exactly.

Tell me again out MPEx is worth 45 million dollars (or was that 4.5 Billion?   Your math was a little fuzzy) and how it's the most successful, valued company in the known bitcoin world, more than MtGox, Bitpay, et al.  I love to hear this fairytale, I can't get enough of it.  lol

Your math has one thing in common with goat's math. For a cookie, guess what. For a slap with a trout, explain how come. For irony, pretend other people's math is "fuzzy" < done.

Carry on.

At the risk of getting pulled into an internet who-is-bigger contest, I just want to say, that I have never heard of MPEx until I happened to stumble into this thread.  And after watching it for a few days I decided to actually see what all the fuss was about. 

If the site were the highest valued, that would mean that it makes the most profit, or at least takes in the most revenue of all the btc related businesses (in my mind at least, I'm sure there are people who have other definitions in mind).  but if that were true, you would think they would be able to spend a little more time on the website at least (visually pleasing, aesthetic, and easier to use).  Hell that alone would bring in even more revenue, I should think...

Sorry, I know this is going to continue the debate, but just my 2 bitcents.

[Inaba]

But Digital, MPEx has a transaction volume over 2000 BTC!  It's the largest bitcoin business in the world!  How can you question the fact that it's worth more than 45 million dollars with 2000 BTC traded in the same few "stocks" traded over and over each day?  Isn't it obvious, MPEx is bigger than Amazon and Google!

I mean it is THE BTC stock exchange after all!  (Never mind it's basically the ONLY BTC stock exchange at the moment and was dwarfed by GLBSE when it was operating)  I mean, at least 10 people have heard of MPEx, maybe even 15!  It's HUGE!

[MPOE-PR]

If the site were the highest valued, that would mean that it makes the most profit, or at least takes in the most revenue of all the btc related businesses

Seen the revenue reports (they're in this forum)?

But Digital, MPEx has a transaction volume over 2000 BTC!

50-200k a month, noob. You know, as much as BFL took in once. Every month. In fact we've probably beat the million in overall trade so far. Who churned a million BTC that you know of? Who made 5k BTC in one single month that you know of?

[digital]

Seen the revenue reports (they're in this forum)?

Link please.

I'm interested, but not enough to have to wade through dozens of random threads to find it...

[Inaba]

If the site were the highest valued, that would mean that it makes the most profit, or at least takes in the most revenue of all the btc related businesses

Seen the revenue reports (they're in this forum)?

But Digital, MPEx has a transaction volume over 2000 BTC!

50-200k a month, noob. You know, as much as BFL took in once. Every month. In fact we've probably beat the million in overall trade so far. Who churned a million BTC that you know of? Who made 5k BTC in one single month that you know of?

HAHAH!  OMG this is one of the funnies things I've ever seen on the forum.  Are you seriously valuing your company in the millions of dollars because you have a few thousand BTC going round and round in circles every month?  Holy crap, you are even more disconnected from financial reality than I thought.

Christ, by that measure then MtGox is worth hundreds of millions of dollars!  I they churn upwards of 100k BTC ... PER DAY.  That means they are worth... hmm, lets be generous and say they do 75k on average per day. 

75000 * 30 = ~2.25 million

2,250,000 * 13.00 = $29.25 million per month

29.25 million per month * 12 = 351 million dollars a year.  So, at the very least, Mt. Gox is worth 351 million dollars .

The entire market cap of all the BTC is 141 million dollars... so by your math and being very generous with the numbers, Mt.Gox is worth 2.5x the entire market cap of the bitcoin universe.  Yep, makes perfect sense.

Delusional much?

[MPOE-PR]

Seen the revenue reports (they're in this forum)?

Link please.

I'm interested, but not enough to have to wade through dozens of random threads to find it...

See here.

[crazyates]

Wait, so MPOE had a transaction volume of 25,000BTC in the month of November. MPEx had a profit of 433BTC in the month of November. Somehow that means they're worth 45 million USD? I'm not seeing the math.

[MPOE-PR]

Wait, so MPOE had a transaction volume of 25,000BTC in the month of November. MPEx had a profit of 433BTC in the month of November. Somehow that means they're worth 45 million USD? I'm not seeing the math.

Looky here : http://live.coinbr.com/?mpsic=S.MPOE

That's the share price over whatever interval. Multiply the share price with the total number of shares and you have the implicit market valuation. Pretty basic stuff.

[Korbman]

Wait, so MPOE had a transaction volume of 25,000BTC in the month of November. MPEx had a profit of 433BTC in the month of November. Somehow that means they're worth 45 million USD? I'm not seeing the math.

Looky here : http://live.coinbr.com/?mpsic=S.MPOE

That's the share price over whatever interval. Multiply the share price with the total number of shares and you have the implicit market valuation. Pretty basic stuff.

Ok...I'm confused. How does transaction volume directly correlate to your monthly net income? I'm not terribly familiar with MPEx, but I presume you get a small fee per transaction? ...and share price x market cap doesn't mean that's what your company is actually worth. If that's the case, then I'd be worth 10,000 BTC.

Three primary aspects go into valuation: Assets, your market, and income.
Assets -- What does MPEx own of value?
Market -- Your company is tailoring to a niche securities market. Though this market has the potential for high growth, that isn't its current case.
Income -- You've provided a very, very, very basic "Revenue / Expense" sheet vaguely describing this.

I think it's easier to just sit down and explain things to people rather than post pictures and let them figure it out on their own...you'd see a lot less negativity toward your exchange if you did that.