buttcoin.org

[BombaUcigasa]

I assume that bitcoin will grow until the world is using it, how can it crash if it's the only currency?

How would we know if it crashed if it's the only currency, indeed...

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[Astro]

Why can't this site stay on-line?  I rely on it to give me the obese aspie perspective on bitcoin.

edit: and it's back from 404

[Mark Oates]

Can someone explain to me what "institutional investors" are? (nm, I found it on this site on the internet called google.com)

Also, buttcoin.com's awesome.

[tymothy]

Can someone explain to me what "institutional investors" are?

Also, I the site's awesome.

Any non-individual making purchases. Basically investment groups, financial management sites, hedge funds, corporations, etc. Lots of $$$.

[bitcoinBull]

Dear buttcoin.org,

Nice effort.  It is a funny drama, I have to admit. 

And thanks for bursting the bubble.  A lot more could've gotten hurt (or rich).

Now permit me to add something about bubbles?

Quoting you: "Oil hasn’t crashed (it did, also in the 80′s)?"

And in 2008.



Bubble come, bubble go.  and Bubble come.

This is not the last you've seen of the Bitcoin Bubble.  Lucky you, you'll probably get the chance to do another "told you so" dance in the near future, when BTC falls from $100 to $30.

Of course, I could be wrong.  But the market will be right.  At the least, we can agree on that.

[Current-C]

His point about telling me that oil didn’t crash and then showing a graph where oil crashed is just ripe to be explored further, but unfortunately the bitcoin site has limited discussion of anything bitcoin related to the “old miners” now. Newbies are no longer welcome in the world of buttcoin.

EDIT: I just noticed he’s trying to prove oil didin’t crash in the 80′s by showing me a graph of oil dropping in 2008. What a useless bag of hot air. How about a new graph you sack of sh**.

He wasn't trying to prove that oil didn't crash.  The point is that ***NEWSFLASH*** volatile markets are volatile!  There is a big difference between a bubble and thin-market volatility.  People who have little understanding of markets and even less understanding of monetary systems will call bitcoin a "bubble" or a "Ponzi" or any number of mediocre pejoratives they can think of just so they can remain comfortable in their own little worldview free from tyrannical governments and disruptive technologies.  And when their arguments grow desperate as reality sets in they will defend their delicate egos by resorting to childish name-calling. 

The rest of us meanwhile will take advantage of pullbacks when they come, sell when the price gets ahead of itself, and be thankful we can see the value in bitcoins that so many overlook. 

[buttcoin]

He wasn't trying to prove that oil didn't crash.  The point is that ***NEWSFLASH*** volatile markets are volatile!  There is a big difference between a bubble and thin-market volatility.  People who have little understanding of markets and even less understanding of monetary systems will call bitcoin a "bubble" or a "Ponzi" or any number of mediocre pejoratives they can think of just so they can remain comfortable in their own little worldview free from tyrannical governments and disruptive technologies. 

Listen, I don't know shit about markets. I don't own stock. But Oil had a boom and bust, Gold had a boom and bust, even Beanie Babies had a boom and bust. People lost money in all those instances when the bubbles in the respective industries burst (and looking at the breakneck price increase I don't know how you can call it anything but a bubble) and that's what I'm getting at. Bitcoin's current value is it's popularity, nothing more. The reason the price jumped up so quickly is because people went "bitcoins? what the" and jumped in. Also, "tyrannical governments and disruptive technologies", I'm sorry but a useless hash isn't going to topple the government anytime soon.

And when their arguments grow desperate as reality sets in they will defend their delicate egos by resorting to childish name-calling. 

That's my writing style, I find it funny and your shit doesn't stink.

The rest of us meanwhile will take advantage of pullbacks when they come, sell when the price gets ahead of itself, and be thankful we can see the value in bitcoins that so many overlook. 

Your bitcoin is nothing more than a useless string of numbers that your video card farted out. I have a sock drawer filled with Coke Rewards Points that at least will get me a free Coke Zero.

[bitcoinBull]

Your bitcoin is nothing more than a useless string of numbers that your video card farted out. I have a sock drawer filled with Coke Rewards Points that at least will get me a free Coke Zero.

My bitcoin will get me dollars, a lot more dollars than I paid for them (at the moment).  Maybe others are not so lucky.  They should probably just wait, like I did.

I would see your point if you think the string of numbers in your paypal/dwolla account, or the string of numbers of on your bank statement are equally useless.  I guess for some people it takes a leap of logic to understand that there are some strings of numbers which can get a person a lot of Coke Zeros.

I agree with you on the Bitcoin thing, but your inability to read between the lines on an elementary (school) level just makes me sad. You could try showing your writing to someone else before posting, just to catch this sort of things. Try this in your pipe: “Oil crashed” in 2008, in 1980, in 1920, etc., whatever. “Oil” itself never crashed for good, that’s what “Bubble come, bubble go” means; we’re still using oil.

...

Of course, this a totally different parallel universe from the one where Bitcoin lives; it’s completely useless to begin with, and equipped with a system that can be judged as unusable by a five-year-old.

What a multi-polar world.  Bitcoin proponents are greedy geeks peddling a crypto-scam.  Bitcoin buyers are foolish speculators with less sense than five-year-olds.  And bitcoin detractors can't read on an elementary level.

Which brings me back to bubbles.  Bubbles burst when they run out of foolish buyers.  So by the bubble analysis, the bitcoin bubble has less to do with the supply and demand of bitcoin and more to do with the supply and demand of fools.  When the supply of fools exceeds the demand, the price of BTC goes up.  But when there's no more fools to sell to (demand for fools exceeds the supply), BTC crashes.

Therefore, anyone predicting an imminent crash of the bitcoin bubble believes the world will soon run out of fools.  But the only thing on which everyone can agree, is that they are all fools.  

What a paradox.

[jostmey]

Ha!

My database shows that these guys where using my BTC Economy plugin for a few minutes. They must have removed the plugin because it is no longer there. I guess the plugin was showing that the bitcoin economy is legitimate.

- Jared

[buttcoin]

Ha!

My database shows that these guys where using my BTC Economy plugin for a few minutes. They must have removed the plugin because it is no longer there. I guess the plugin was showing that the bitcoin economy is legitimate.

- Jared

Your plugin was terrible and I couldn't resize the box you meathead

[buttcoin]

Just celebrated Buttcoin's 1 year anniversary. Thanks guys!