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Author Topic: Speculators have bailed, good, PLEASE start building bitcoin businesses now  (Read 4663 times)
WeCreatedAMonster
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June 11, 2011, 05:31:10 PM
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I am seriously disgusted with anyone that thought the price was just going to go up and up. I believe in Bitcoin but what I've seen in recent weeks is selfishness on a level I didn't expect. I saw the price soar from 10.00 to 30.00 within a week and regretted every dollar it gained because I knew that when I glanced at this page https://en.bitcoin.it/wiki/Trade almost no businesses had been added. Are you fucking serious? Bitcoin's STABILITY is built on enterprise, NOT popularity, forget miners, they are a CONSTANT. Why people compare miners and price, or price and difficulty is anyone's guess. Popularity is the bane of the free market and everyone jumped for it, hook, line, and sinker. The only thing that matters is economy growth, y'know business, people trading, mom and pop stores, niche markets, fuck, even newspaper sellers, if there is no adoption of Bitcoin as a trusted currency by those businesses that are willing to give it a shot. Bitcoin. Is. Dead. Speculators need to grow up. Enthusiasts need to grow up.

I think you all need to take a good hard look at yourselves and ask yourself, what does Bitcoin mean to me.
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June 11, 2011, 05:34:30 PM
 #2

I am seriously disgusted with anyone that thought the price was just going to go up and up. I believe in Bitcoin but what I've seen in recent weeks is selfishness on a level I didn't expect.
Selfishness? Money is a selfish game, pal. I don't think you know how people work

I saw the price soar from 10.00 to 30.00 within a week and regretted every dollar it gained because I knew that when I glanced at this page https://en.bitcoin.it/wiki/Trade almost no businesses had been added. Are you fucking serious? Bitcoin's STABILITY is built on enterprise, NOT popularity, forget miners, they are a CONSTANT.
Well, get off your high horse and go start an enterprise. Holy shit.

Why people compare miners and price, or price and difficulty is anyone's guess. Popularity is the bane of the free market and everyone jumped for it, hook, line, and sinker. The only thing that matters is economy growth, y'know business, people trading, mom and pop stores, niche markets, fuck, even newspaper sellers, if there is no adoption of Bitcoin as a trusted currency by those businesses that are willing to give it a shot. Bitcoin. Is. Dead. Speculators need to grow up. Enthusiasts need to grow up.
Sure is Keynesian in here.

I think you all need to take a good hard look at yourselves and ask yourself, what does Bitcoin mean to me.
I think you need to take a good look at yourself and realize how much of a hypocritical self-righteous moron you are.
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June 11, 2011, 05:35:41 PM
 #3

Hyperbole much? I agree that bitcoin needs to stop being the investor's plaything, but the events thus far are still not out of the ordinatry based on past exchange performance. Hopefully investors will realise bitcoin isn't the "sure thing" people thought it was, and start to develop some interesting stuff.
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June 11, 2011, 05:54:54 PM
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I am seriously disgusted with anyone that thought the price was just going to go up and up. I believe in Bitcoin but what I've seen in recent weeks is selfishness on a level I didn't expect.
Selfishness? Money is a selfish game, pal. I don't think you know how people work

I saw the price soar from 10.00 to 30.00 within a week and regretted every dollar it gained because I knew that when I glanced at this page https://en.bitcoin.it/wiki/Trade almost no businesses had been added. Are you fucking serious? Bitcoin's STABILITY is built on enterprise, NOT popularity, forget miners, they are a CONSTANT.
Well, get off your high horse and go start an enterprise. Holy shit.

Why people compare miners and price, or price and difficulty is anyone's guess. Popularity is the bane of the free market and everyone jumped for it, hook, line, and sinker. The only thing that matters is economy growth, y'know business, people trading, mom and pop stores, niche markets, fuck, even newspaper sellers, if there is no adoption of Bitcoin as a trusted currency by those businesses that are willing to give it a shot. Bitcoin. Is. Dead. Speculators need to grow up. Enthusiasts need to grow up.
Sure is Keynesian in here.

I think you all need to take a good hard look at yourselves and ask yourself, what does Bitcoin mean to me.
I think you need to take a good look at yourself and realize how much of a hypocritical self-righteous moron you are.

As I saw people openly admitting they were dropping their life saving into Bitcoin my stomach dropped. Kindly and sincerely sir I am a poor student and can't help these people, but I guess the same could be said of yourself, these forums over the last year have been a pirranah pit of "it will hit $100 in no time", "sell, sell, sell,", "buy NOW!", "oh it goes up and down all the time" ... but I see very few, if anyone actually wanting to drive Bitcoin from commodity to currency, because, c'mon don't kid yourselves, commodity is numbers for numbers, curency is goods/services for numbers. Ask yourself, when did you stop looking at MtGox or bitcoinwatch.com and at the trader page to REALLY see where Bitcoin was heading.
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June 11, 2011, 05:58:04 PM
 #5

I am seriously disgusted with anyone that thought the price was just going to go up and up. I believe in Bitcoin but what I've seen in recent weeks is selfishness on a level I didn't expect.
Selfishness? Money is a selfish game, pal. I don't think you know how people work

I saw the price soar from 10.00 to 30.00 within a week and regretted every dollar it gained because I knew that when I glanced at this page https://en.bitcoin.it/wiki/Trade almost no businesses had been added. Are you fucking serious? Bitcoin's STABILITY is built on enterprise, NOT popularity, forget miners, they are a CONSTANT.
Well, get off your high horse and go start an enterprise. Holy shit.

Why people compare miners and price, or price and difficulty is anyone's guess. Popularity is the bane of the free market and everyone jumped for it, hook, line, and sinker. The only thing that matters is economy growth, y'know business, people trading, mom and pop stores, niche markets, fuck, even newspaper sellers, if there is no adoption of Bitcoin as a trusted currency by those businesses that are willing to give it a shot. Bitcoin. Is. Dead. Speculators need to grow up. Enthusiasts need to grow up.
Sure is Keynesian in here.

I think you all need to take a good hard look at yourselves and ask yourself, what does Bitcoin mean to me.
I think you need to take a good look at yourself and realize how much of a hypocritical self-righteous moron you are.

As I saw people openly admitting they were dropping their life saving into Bitcoin my stomach dropped. Kindly and sincerely sir I am a poor student and can't help these people, but I guess the same could be said of yourself, these forums over the last year have been a pirranah pit of "it will hit $100 in no time", "sell, sell, sell,", "buy NOW!", "oh it goes up and down all the time" ... but I see very few, if anyone actually wanting to drive Bitcoin from commodity to currency, because, c'mon don't kid yourselves, commodity is numbers for numbers, curency is goods/services for numbers. Ask yourself, when did you stop looking at MtGox or bitcoinwatch.com and at the trader page to REALLY see where Bitcoin was heading.
I see nothing wrong with it. Bitcoin is a competing store of value and its far better than the centrally-controlled crap that's out there. Let it be traded exclusively as a commodity. When people are ready to use it for serious commerce, they will.
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June 11, 2011, 06:14:18 PM
 #6

Jesus freakin Christ... is every other thread here started by a troll? Seriously.
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June 11, 2011, 06:18:00 PM
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Jesus freakin Christ... is every other thread here started by a troll? Seriously.
Gov't unleashed their lapdog/trolls, i guess.
overpaid agents/pr in action.
Synaptic
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June 11, 2011, 06:19:27 PM
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Jesus freakin Christ... is every other thread here started by a troll? Seriously.

Why?  Because some people have differing opinions than you?

Life is a fucking Troll, when you have that attitude...but we all love you deeply, so on your behalf I'll make a PSA:

"Alright everyone! Let's stop having differing opinions about bitcoin because SOMEONE HERE *wink wink* thinks we should all be completely enamored with it and talk about nothing but how great it is and will make us all rich!  TOO GOOD TO FAIL. TOO GOOD TO FAIL, EVERYONE."

Grow up.
YoYa
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June 11, 2011, 06:26:00 PM
 #9

*Lights cigar with 50$ bill*

I speculate that I'll not be going anywhere soon....
brunner
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June 11, 2011, 06:31:30 PM
 #10

Trust me.  There are many people who are actively working on building bitcoin businesses that have nothing to do with speculation.

My partners and I, for example, are employing 12 programmers and designers to bring our next project to market before mid July.  We have other projects in the oven, as well, that are actively being developed by a completely different set of programmers.

Our goal is to increase the utility of bitcoin...

I'm working with others whom the Bitcoin veterans would recognize.  If you're *already* working on something, and would like to explore working on something with us, please contact me.

If you only have ideas, but wouldn't follow through on your own, please do NOT contact me -- I do not want to work with you.  If you've got something in the works and think your contribution might complement ours, or that we might be able to use our resources to bring something (that you're already working on) to market faster, please contact me.
Synaptic
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June 11, 2011, 06:33:24 PM
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Jesus freakin Christ... is every other thread here started by a troll? Seriously.
Gov't unleashed their lapdog/trolls, i guess.
overpaid agents/pr in action.

And oh great gods of Valhalla what delicious, delicious government over-payments they are. Right now my Gubmint over-payments are outpacing my BTC mining by a wide margin, so I guess you could say I just have a diversified portfolio!
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June 11, 2011, 06:39:41 PM
 #12

I see nothing wrong with it. Bitcoin is a competing store of value and its far better than the centrally-controlled crap that's out there. Let it be traded exclusively as a commodity. When people are ready to use it for serious commerce, they will.

+1

I bought some initially as a speculative investment a month ago. I'm planning on buying a steady amount over time for investment. I'm planning on buying an increasing amount over time to spend as the opportunity arises.

Marc_Stevens_NSP
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June 11, 2011, 06:40:57 PM
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I just posted my site on the wiki page https://en.bitcoin.it/wiki/Trade#Other
kiba
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June 11, 2011, 06:49:53 PM
 #14

This is completely boring. Anyway, here's the reason why bitcoin isn't a bubble, followed by a bitcoin bubble comic which illustrate the bitcoin bubble siren song that been going on since the beginning of the currency.

Anyway, it's normal for the price of bitcoin to decline 30% or even more overnight, just as it is normal for bitcoin to jump 30% or more overnight.

Good day.

Durr
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June 11, 2011, 06:54:20 PM
 #15

Speculators didn't bail. Speculators are the ones that are sitting now with their 100$ asks.

It was only a very few bigholders who sold about 10k~20k of bitcoins, causing a price drop of 40% with a 10% bounce back. This market is super weak if you think about it.

These bigholders are the early guys who got tons of bitcoins and not wanting to lose this chance of becoming rich. Imagine being the last to sell bitcoins and you bought at 0,50$, having had this huge chance to make triple digits returns.

Backed up with proof: http://blockexplorer.com/address/1ER9ptGkdWSNeWY3pvbvNhNZS8ie5qEj2K

Help this puppy survive: http://larrycorreia.files.wordpress.com/2011/06/mr-snuggles.jpg

Donate to 1Gvzk3L3oLjeK5m6y4B82kFvLEZbqQnUWs
Synaptic
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June 11, 2011, 06:56:38 PM
 #16

I'm a small business owner myself (programming/design/hosting), and I considered accepting bitcoins for services.  I no longer consider it a viable option in the least.

Why?

Because for all the ephemeral philosophical jesting about decentralized money and how we're all paving the way to a grand and glorious future of Utopic, regulation free financial anarchy, the fact is it makes ZERO business sense to accept bitcoins.

It's a fools errand to accept a form of currency that can render your services a very expensive favor.

I currently charge a base rate of $162/hr. with additional compensation based on project scope. If I began accepting bitcoins and doing even a fraction of business in them (say 10%), then month to month my actual income could have such a wide variance as to make my life a living hell of watching market tickers and having to waste my time day trading to ensure I got fair compensation for my work.

As far as any real and profitable businesses are concerned, accepting bitcoin is an idiotic proposal, UNLESS the owner of that business is merely speculating on future returns.

My bet is that businesses aren't going to gamble with their profits on the feel good nature of crypto-currency's war on the evil fiats of the world...

Paypal fees aren't that bad...hell, neither are credit card fees, really.  Certainly not when compared with BTC lol.

"Paypal without the fees!"

HAHAHA...
Man From The Future
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June 11, 2011, 07:01:17 PM
 #17

Do t-shirts count as serious commerce? Cheesy
kiba
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June 11, 2011, 07:04:52 PM
 #18

I'm a small business owner myself (programming/design/hosting), and I considered accepting bitcoins for services.  I no longer consider it a viable option in the least.

If you don't want to stay in the bitcoin economy, that's fine.

Synaptic
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June 11, 2011, 07:08:45 PM
 #19

I'm a small business owner myself (programming/design/hosting), and I considered accepting bitcoins for services.  I no longer consider it a viable option in the least.

If you don't want to stay in the bitcoin economy, that's fine.

Oh I'm very happy to stay in the bitcoin economy.  I'm minting free money on the hopes and dreams of amateur investors with the computer sitting next to me, after all...

foxmulder
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June 11, 2011, 07:21:52 PM
 #20

This forums is not bitcoin central 'government' lol, Bitcoin is not decentralized if you are whining about the availability of goods and services under bitcoin in this forum it done no good other than ridiculed, if you support bitcoin concept and has something and even power and will to make slight changes do it, act on it don't just whining, perhaps before invest on anything you should at-least analysis on your targeted investment.

Seriously this is just your mind tricking you, if you expect btc always in the same parity as the $, you should read the bitcoin paper again, it would be never happened.

Please  donate me : 1Cxa2JZ1CE4DUSLtg3j7xaNBNiqjbjQtcG

Die hard x-files fans should use bitcoin, like mulder's says "Bitcoin is out there!".
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