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vokain
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July 04, 2013, 02:41:16 AM
 #121

It will, just not enough..yet. I got several calls yesterday asking if they should purchase in light of this announcement, and it reminds me of the same thing happening a few months back. Adoption rate is a time function...

but we can't just sit on our asses here. Get friends with businesses to accept Bitcoin (coinbase makes it dead easy, also point them towards the lower fees and the instant demand they get from this community. it's at least worth a sale or two in the short term), start your own business. Hell, start mining even, if that's something for you. We can't sit here watching the price expecting to get rich. Our time is worth much more than that.

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July 04, 2013, 02:45:25 AM
 #122

Awesome thread.  I've been following it from the start.

To the guy above that says "well then why isn't ... " blah blah blah

Because look (as someone surely already explained):  Me <--  I am bitcoin savvy.  And this is news to me.

You kids with your nintendos and your hula hoops and your mac donalds, think time is nonexistent anymore... well guess what?  stuff takes time.

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July 04, 2013, 02:55:51 AM
 #123

Awesome follow up.

Kudos Vlad.
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July 04, 2013, 03:09:58 AM
 #124


So why is the price not going up like crazy because of this???  Are people just clueless?  I would buy more if I could right now!

^ that is exactly the reason. The vast majority of people ARE clueless about Bitcoin. Out of the few who own Bitcoin, the present market makers are currently mired to the price, who are currently panicking. People like you who know better have already possibly expended their capital, possibly because they already believed in the long term, unable to counter the downward pressure.

The general population is insanely ignorant about Bitcoin - and here's proof.

ugh... ouch... i am seriously wincing over here... this is a PAINFUL thread to go through
and I thought the speculation subforum is so much painful BS... jesus hay soos OMG
is there any hope for the youth, the generations of tomorrow?
god ffs I am only 33 and this is so effing painful to read

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July 04, 2013, 03:14:05 AM
 #125


So why is the price not going up like crazy because of this???  Are people just clueless?  I would buy more if I could right now!

^ that is exactly the reason. The vast majority of people ARE clueless about Bitcoin. Out of the few who own Bitcoin, the present market makers are currently mired to the price, who are currently panicking. People like you who know better have already possibly expended their capital, possibly because they already believed in the long term, unable to counter the downward pressure.

The general population is insanely ignorant about Bitcoin - and here's proof.

ugh... ouch... i am seriously wincing over here... this is a PAINFUL thread to go through
and I thought the speculation subforum is so much painful BS... jesus hay soos OMG
is there any hope for the youth, the generations of tomorrow?
god ffs I am only 33 and this is so effing painful to read

Tell me about it, this is my generation.

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July 04, 2013, 03:20:03 AM
 #126

So why is the price not going up like crazy because of this???  Are people just clueless?  I would buy more if I could right now!

Market is irrational

Traders are irrational

People trade on their emotions

Bubble deflating

Somebody manipulating the market

Also, let's be honest; this announcement doesnt remove the risk involved with bitcoin. If regulations are changed between now and when the ETF is launched, well this announcement really won't mean anything. 18 months is a long time in bitcoin world.
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July 04, 2013, 03:20:17 AM
 #127

Quote
accessibility of Bitcoin investments to general public will be ubiquitous.

I guess 1 btc will cost too much, how it will be unaccessible otherwise, never mind they will invest in LTC

Tom Waits: We should just start as soon as possible cause we might catch a rabbit before we have our pants on. (Juxtapoz)
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July 04, 2013, 03:21:26 AM
 #128


So why is the price not going up like crazy because of this???  Are people just clueless?  I would buy more if I could right now!

^ that is exactly the reason. The vast majority of people ARE clueless about Bitcoin. Out of the few who own Bitcoin, the present market makers are currently mired to the price, who are currently panicking. People like you who know better have already possibly expended their capital, possibly because they already believed in the long term, unable to counter the downward pressure.

The general population is insanely ignorant about Bitcoin - and here's proof.

ugh... ouch... i am seriously wincing over here... this is a PAINFUL thread to go through
and I thought the speculation subforum is so much painful BS... jesus hay soos OMG
is there any hope for the youth, the generations of tomorrow?
god ffs I am only 33 and this is so effing painful to read

Tell me about it, this is my generation.

Well sir, the arrow of time tells us many things, amongst them:  "Slaves Shall Serve"
Let's try to be fairer to them in this more intellectual and airy Age of Aquarius, to differentiate from the Age of Aries, when spoken language was relatively new and anyone that could bark commands was looked upon as a god.
Let's be even different than the most recent (and rapidly fading -- Murdoch?) world masters of the Age of Pisces -- those that pretended to care, but impotent and ignorant in technology were not able to manifest such benevolence, no matter how honestly wished for.
The masters of this new age will have in their grasp the technology to FULLY master the environment of the slaves, and hopefully their ignorance will truly be bliss.
"It takes all kinds"

10% off at CampBX for LIFE:  https://campbx.com/main.php?r=C9a5izBQ5vq  ----  Authorized BitVoucher MEGA reseller (& BTC donations appreciated):  https://bitvoucher.co/affl/1HkvK8o8WWDpCTSQGnek7DH9gT1LWeV5s3/
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July 04, 2013, 03:30:47 AM
 #129

Oh I fully realized that. I'm patient and willing to help them realize themselves (knowing I was like that at one point) but that doesn't mean I can't let off a little steam Smiley

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July 04, 2013, 03:31:17 AM
 #130

Well sir, the arrow of time tells us many things, amongst them:  "Slaves Shall Serve"
Let's try to be fairer to them in this more intellectual and airy Age of Aquarius, to differentiate from the Age of Aries, when spoken language was relatively new and anyone that could bark commands was looked upon as a god.
Let's be even different than the most recent (and rapidly fading -- Murdoch?) world masters of the Age of Pisces -- those that pretended to care, but impotent and ignorant in technology were not able to manifest such benevolence, no matter how honestly wished for.
The masters of this new age will have in their grasp the technology to FULLY master the environment of the slaves, and hopefully their ignorance will truly be bliss.
"It takes all kinds"

Please translate to English?
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July 04, 2013, 03:35:34 AM
 #131

Well sir, the arrow of time tells us many things, amongst them:  "Slaves Shall Serve"
Let's try to be fairer to them in this more intellectual and airy Age of Aquarius, to differentiate from the Age of Aries, when spoken language was relatively new and anyone that could bark commands was looked upon as a god.
Let's be even different than the most recent (and rapidly fading -- Murdoch?) world masters of the Age of Pisces -- those that pretended to care, but impotent and ignorant in technology were not able to manifest such benevolence, no matter how honestly wished for.
The masters of this new age will have in their grasp the technology to FULLY master the environment of the slaves, and hopefully their ignorance will truly be bliss.
"It takes all kinds"

Please translate to English?

Arrow of time.  Looked upon as a god.  New Age. . .

Perhaps I should get out of Bitcoin? But not because of the "impending crash."  I did not know I was in some sort of cult here. Wink

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July 04, 2013, 12:35:44 PM
 #132

Well,

While having absolutely no idea what Vladimir is talking about,

I can confirm that very big, positive things for bitcoin are happening behind closed doors Smiley



So... Did you know this?

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July 04, 2013, 12:41:14 PM
 #133

Quote 1:
...the accessibility of Bitcoin investments to general public will be ubiquitous.

Quote 2:
hedge funds get their name because they hedge their positions on the market
example go long on oil futures and long on airlines stocks
1 if oil goes up let the oil futures run in profits cut the airlines stock
2 if oil goes down cut the futures and let the airlines stock run in profits how you hedge in bitcoin world?
Originally hedge funds used to hedge, as in your example, but nowadays any strategy goes. Being long in BTC is a possibility. The problem however, is that they normally want to buy financial products within a strict legal framework. The Coinlab deal is a first step towards making this possible, the ultimate goal would be a Bitcoin ETF.

Quote 3:
"'While silver can get to $15 or $20 before it's all said and done, the actual launching of the silver ETF could mark a short-term top for silver,' added Peter Grandich, noting that the silver ETF could represent a 'buy the rumor, sell the news' trade." /.../ "Analysts are also warning about potential confusion over the tax structure of precious-metals ETFs. Under current tax law, long-term gains from the sale of silver are taxed as 'collectibles' like artwork. Therefore, if held for more than a year, gains on the silver ETF would be taxed at a maximum rate of 28%, compared with 15% for so-called long-term gains on stocks. If sold in less than a year, gains are taxed as ordinary income.'
- Ben Jones. Metals Dip On Profit Taking, ETF Worries. April 04, 2006.
http://moneyandmetals.blogspot.com/2006/04/metals-dip-on-profit-taking-etf.html

Quote 4:
The gold ETF is being proved to be a sham, not convincingly so, but enough to anyone harboring a suspicious mind. Stories abound within ETF’s regarding shorting gold via futures, buying 10 cents worth of gold per dollar held, lack of transparency, unaccountability under the false guise of security concerns, and avoidance of SEC requirements enough to earn a formal investigation. Eventually, we will learn that on a good day, a fractionally managed gold ETF is right on target with their reality. My uglier view is that ETF’s will morph into non-producing hedge firms, simple queer adjunct skeletal illicitly controlled shams linked to the hedged mining firms themselves, whose certificates are fully mixed, those valid vaulted very real with those leased vanished never to be seen again. For smart people to trust the ETF offerings is evidence of utter complete stupidity in my book. Jim Turk’s original suspicions might have been met with calls of competitive bias, but no more. His concerns have all been borne out as authentic. He is a true gold patriot. For the precious metal community to embrace the upcoming silver ETF is beyond my comprehension.
Such trust reminds me of the Iraq War and calls of weapons of mass destruction. Now Iran is a nuclear threat. Have we learned anything about disinformation? How intelligent is the gold community? Don’t confuse zeal and stubbornness for intelligence and craft. If Fanny Mae launched an ETF for housing investors, would we trust it? A credible argument can be made that the hedged gold institutions (within the establishment of the goomba World Gold Council to manage the gold ETF) is akin to the mafia managing the lending operations for the Teamster’s Union retirement fund. How is that working out? The streetTRACKS gold ETF (GLD) will have a similar fate someday, in managed receivership by some official steward.
- Jim Willie CB. Why USFed Hikes, Unspoken. February 16, 2006
http://www.freemarketnews.com/Analysis/65/3825/2006-02-16.asp?nid=3825&amp;amp;amp;fb=1&wid=65&ntyp=EMA
http://economicrot.blogspot.com/2006_02_01_economicrot_archive.html#114037421219143602

Quote 5:
It's like fractional reserve banking....one bar "owned" by 10 different entities.
Bottom line is if you own precious metal ETF's you own PAPER!
- thinkiam Jul 15 01:14 PM Comment on an article "Warnings to Precious Metal ETF Investors - Buyer Beware!"
http://seekingalpha.com/instablog/121744-mark-anthony/13311-warnings-to-precious-metal-etf-investors-buyer-beware


Nice call.

Bitchick: there's no more buying going on because the masses understand only one thing: the price is going Up UP UP, hop on the train before it's too late!

Which is obviously not the case while a bubble deflates.

Price is at a very healthy level considering how shitty is the current infrastructure and at what price BTC was traded one year ago. Just chill.

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July 04, 2013, 03:06:25 PM
 #134


Bitchick: there's no more buying going on because the masses understand only one thing: the price is going Up UP UP, hop on the train before it's too late!

Which is obviously not the case while a bubble deflates.

Price is at a very healthy level considering how shitty is the current infrastructure and at what price BTC was traded one year ago. Just chill.

I am completely bullish and have not sold anything.  I would be buying if I did not have all my cash tied up at the moment.

So yes,  just chilling. Wink

I guess I am a little surprised more people were not buying on the Winklevii news.  That is all.

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July 04, 2013, 03:45:56 PM
 #135


Bitchick: there's no more buying going on because the masses understand only one thing: the price is going Up UP UP, hop on the train before it's too late!

Which is obviously not the case while a bubble deflates.

Price is at a very healthy level considering how shitty is the current infrastructure and at what price BTC was traded one year ago. Just chill.

I am completely bullish and have not sold anything.  I would be buying if I did not have all my cash tied up at the moment.

So yes,  just chilling. Wink

I guess I am a little surprised more people were not buying on the Winklevii news.  That is all.

Those news (like Cyprus or "Bitcoin is on CCTV") have just a marginal impact on short term price. Very marginal. I wonder why people gives them so much importance, like they need to believe the price of a speculative asset like Bitcoin has some "rational" behind it.

Plus, even if someone that is not yet into Bitcoin decided to invest because saw the Winkle-twins initiative, it will take time for him to figure out how to wire his hard-earned money to Magic The Gathering Online Exchange to trade on their crappy engine.

The fact is that the only significative news is: "the price is consistently going up uP UP!", which as soon as turns to "OMG Bitcoin broke all time high, hop on the train because its leaving the station!!!" leads to media hype and speculative mania -> prices go UP UP UP quicker, and there you have the hype loop leading to a bubble.

The bubble is now deflating. That "news" ("prices are going DOWN Down down!!") are much more relevant to the market NOW than two twins filing a S-1 that may or may not be accepted in the mid-long term. In this scenario people is just willing to realize their profits/cut their losses, and probably look for a better entry point. Just old market psychology at work.

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July 04, 2013, 04:07:59 PM
 #136

For what is worth. Based on some information that is not public and that I have no intention to disclose, things are happening behind closed doors. There are some serious projects are being underwritten and financed and negotiated right now. If these projects come to fruition, which is likely to happen within 2 years time frame, the accessibility of Bitcoin investments to general public will be ubiquitous.

Anyone parting with his coins at current silly prices is going to deeply regret it by year 2015.


That's a pretty fucking sleezy post.  It adds absolutely  nothing to the consciousness of the situation, there is no information, only blarney and it is a blatant attempt at manipulating the price for a quick gain. I'm embarrassed for you.

And I'm a bitcoin enthusiast!

You appear to be a manipulating opportunist.

He's saying there are several multi-million dollar groups working on everything from new currencies to compete with bitcoin, new exchanges, new this and that, interfacing with banks, bitcoin investment funds on the nasdaq, whatever. It's just common sense.

In general these groups have nothing to do with this community and no incentive to disclose their plans anyway until they have something to put on the market so you never hear about them.
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