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Author Topic: MAX BTC VALUE  (Read 1391 times)
BTCBUDDY1
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March 24, 2013, 05:17:37 PM
 #21

The most convincing thing ive heard, which pretty much disproves most predictions is that BTC, is not only a currency but a protocol, a commodity, a stock in essence, etc. etc. etc. which essentially makes it behave uniquely & differently PRETTY MUCH ALL other stocks.

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AnonyMint
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March 24, 2013, 05:35:09 PM
 #22

The most convincing thing ive heard, which pretty much disproves most predictions is that BTC, is not only a currency but a protocol, a commodity, a stock in essence, etc. etc. etc. which essentially makes it behave uniquely & differently PRETTY MUCH ALL other stocks.

The "it's different this time" is always a key ingredient to ponzi bubbles.

Okay now it is crystal clear now what Bitcoin *IS*.

The power elite need not worry at all.

As with ponzi bubbles, they usually go higher than the level-headed minds expect. See you at $1000... but I won't be invested.


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DannyHamilton
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March 24, 2013, 07:20:08 PM
 #23

All good ponzi starts with a "plausible" story. Sigh. You humans never learn.
- snip -

It is clear that you are a troll.  What is not clear is which of the following is true:

  • You have no understanding of what bitcoin is, or how it works, and are just spouting random stuff you've heard from other uneducated people.
  • You have no understanding what a Ponzi Scheme is, or how it works, and are just spouting random stuff you've heard from other uneducated people.
  • You understand exactly what a Ponzi Scheme is, and what Bitcoin is and how it works.  You therefore understand that Bitcoin is not a Ponzi Scheme, but you don't care.  You find it entertaining to lie and try to confuse and mislead people.


Luku
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March 24, 2013, 07:41:51 PM
 #24

All good ponzi starts with a "plausible" story. Sigh. You humans never learn.
- snip -

It is clear that you are a troll.  What is not clear is which of the following is true:

  • You have no understanding of what bitcoin is, or how it works, and are just spouting random stuff you've heard from other uneducated people.
  • You have no understanding what a Ponzi Scheme is, or how it works, and are just spouting random stuff you've heard from other uneducated people.
  • You understand exactly what a Ponzi Scheme is, and what Bitcoin is and how it works.  You therefore understand that Bitcoin is not a Ponzi Scheme, but you don't care.  You find it entertaining to lie and try to confuse and mislead people.



+1

Try to firstly learn, what Ponzi Scheme is.
AnonyMint
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March 24, 2013, 07:42:24 PM
 #25


+1

Try to firstly learn, what Ponzi Scheme is.

I think you need to!

http://en.wikipedia.org/wiki/Ponzi_schemes

Quote
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation

See my definition below, which matches perfectly with Bitcoin.

All good ponzi starts with a "plausible" story. Sigh. You humans never learn.
- snip -

It is clear that you are a troll.

WTF? What if anything have I written that is not genuinely intended to teach people about experience I had in my own life about losing massive amounts of money speculating?

 What is not clear is which of the following is true:

  • You have no understanding of what bitcoin is, or how it works, and are just spouting random stuff you've heard from other uneducated people.

Jesus Christ! Do you know that I programmed one of world's first WYSIWYG word processors, Word UP (google it) back in 1986 when you were probably still in diapers.

I was one of the first three programmers of what became Corel Painter, the first program that let you paint with a Wacom tablet and simulates real paints, canvas, with grain, bleed, pressure, tilt, etc.

Then I wrote arguably the world's first social network, CoolPage.com which download.com will confirm to you had million users back in 2001 when Yahoo GeoCities free hosting was big and at one time we have 335,000 sites made with the product as confirmed by AltaVista, back when the internet was 1/10 the size it is now.

Do I need to provide an exhaustive resume to convince you that I can program anything I want to and I do understand very well the technology of Bitcoin.

But this discussion isn't even about technology, it is about human psychology and economics. And again I am very well studied in that area too.

It doesn't matter what I say here, because you fools are going to go and speculate. The important matter is if I can make a correct judgement of whether there is a market here worth my pursuit.

One thing I have learned is that no P2P currency will prosper if it doesn't include an appreciating value, i.e. deflation.

People don't understand that deflation concentrates wealth to the rich, because the rich have a higher % of their income to save. If you can't put that simple math in your head, then don't bother me.

  • You have no understanding what a Ponzi Scheme is, or how it works, and are just spouting random stuff you've heard from other uneducated people.

A ponzi scheme is where there needs to always be new people bringing capital in, else the price collapses in a spiral. This is because there is no income model.

This is why I am saying a correct design (such as my design for AnonyMint.org AnonyCash.org AnonyCoin.org you can go read it) should discourage dormancy-- i.e. the measurement of how long the coins sit with one owner and are not traded.

If you know the Quantity Theory of Money (wikipedia is your friend), then you understand that the value of a currency is dictated by the money supply and the velocity of money, not just one of the two.

  • You understand exactly what a Ponzi Scheme is, and what Bitcoin is and how it works.  You therefore understand that Bitcoin is not a Ponzi Scheme, but you don't care.  You find it entertaining to lie and try to confuse and mislead people.

WTF? All the data says Bitcoin's ponzi interest is far outscaling its transactional value thus far. And the comments I see in this forum confirm the data. You fools are in the "it will go up forever" ponzi delusion.

Enjoy the ride!


MODERATORS PLEASE UNLOCK THE JAIL SO I CAN GET OUT OF THIS NEWBIE FORUM, I don't have time to waste on this nonsense.

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AnonyMint
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March 24, 2013, 08:00:37 PM
 #26

For those who want to learn some economics, here is the way you calculate the value of a currency:

http://bitcoin.stackexchange.com/questions/1163/how-can-determine-the-fundamental-theoretical-value-of-the-bitcoin-based-on-stea/8641#8641

For those who think the Quantity Theory of Money doesn't exist, then nothing for you here, just continue along your ponzi yellow brick road.

That is me. I am Shelby Moore III.

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DannyHamilton
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March 24, 2013, 08:55:41 PM
 #27

+1

Try to firstly learn, what Ponzi Scheme is.
I think you need to!

http://en.wikipedia.org/wiki/Ponzi_schemes
Quote
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation

I checked that link, here's what I found:

Quote
In a Ponzi scheme, the schemer acts as a "hub" for the victims, interacting with all of them directly.

Please identify for me the schemer who is acting as a "hub" for all these victims, interacting with them directly?

See my definition below, which matches perfectly with Bitcoin.

No, it doesn't, but more importantly it doesn't match the definition of a Ponzi Scheme either.


WTF? What if anything have I written that is not genuinely intended to teach people about experience I had in my own life about losing massive amounts of money speculating?

I thought I already made that clear.  You keep incorrectly calling Bitcoin a Ponzi Scheme.

Jesus Christ! Do you know that I

{redacted a bunch of trash that appears to be intended to impress me, but has no bearing at all whatsoever on your knowledge about bitcoin}

It doesn't matter what I say here, because you fools are going to go and speculate. The important matter is if I can make a correct judgement of whether there is a market here worth my pursuit.

A ponzi scheme is where there needs to always be new people bringing capital in, else the price collapses in a spiral. This is because there is no income model.

While this may be one attribute of a Ponzi Sheme, it is not a definition of a Ponzi Scheme.  If this is the definition of a Ponzi Scheme, then all currencies are Ponzi Schemes.  If all currencies are Ponzi Schemes, then what do you offer as an alternative to a Currency?

This is why I am saying a correct design (such as my design for AnonyMint.org AnonyCash.org AnonyCoin.org you can go read it) should discourage dormancy-- i.e. the measurement of how long the coins sit with one owner and are not traded.

Ah ha!  Now we get to the root of it.  What we have here is a troll with an agenda.  At that is my cue to put you on ignore.  It is clear that you will not have anything constructive, interesting, or useful to say in the future.


MODERATORS PLEASE UNLOCK THE JAIL SO I CAN GET OUT OF THIS NEWBIE FORUM, I don't have time to waste on this nonsense.

Unfortunately, you will probably get out of Newbie Jail eventually and have the opportunity to spew your nonsense all over this forum.  Such is the price of freedom.

AnonyMint
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March 24, 2013, 09:28:10 PM
 #28

Quote
In a Ponzi scheme, the schemer acts as a "hub" for the victims, interacting with all of them directly.

Please identify for me the schemer who is acting as a "hub" for all these victims, interacting with them directly?

That is an ancillary attribute that sometimes exists but is not required which is why it is not the first sentence of the Wikipedia page.

See my definition below, which matches perfectly with Bitcoin.

No, it doesn't, but more importantly it doesn't match the definition of a Ponzi Scheme either.

Yes it does:

http://bitcoin.stackexchange.com/questions/8671/any-counter-proof-that-satoshi-nakamoto-did-not-design-a-ponzi-scheme-on-purpose


WTF? What if anything have I written that is not genuinely intended to teach people about experience I had in my own life about losing massive amounts of money speculating?

I thought I already made that clear.  You keep incorrectly calling Bitcoin a Ponzi Scheme.

That doesn't make me a troll. You need to look up the definition of troll. I am stating what I believe to be facts.

A ponzi scheme is where there needs to always be new people bringing capital in, else the price collapses in a spiral. This is because there is no income model.

While this may be one attribute of a Ponzi Sheme, it is not a definition of a Ponzi Scheme.  If this is the definition of a Ponzi Scheme, then all currencies are Ponzi Schemes.  If all currencies are Ponzi Schemes, then what do you offer as an alternative to a Currency?

It is the essential requirement which is why it is the first sentence at Wikipedia.

And not all currencies must to have this property. Has it entirely flown over your head that the value of a currency is given by the velocity relative to hoarding? Learn the economics of the Quantity Theory of Money else STFU.

Btw, this extreme hoarding is why gold lurks at low price, the catapults higher when fear drives velocity, then crashes again as fear subsides.

You are a simpleton. You don't have the knowledge, so please STFU.

This is why I am saying a correct design (such as my design for AnonyMint.org AnonyCash.org AnonyCoin.org you can go read it) should discourage dormancy-- i.e. the measurement of how long the coins sit with one owner and are not traded.

Ah ha!  Now we get to the root of it.  What we have here is a troll with an agenda.  At that is my cue to put you on ignore.  It is clear that you will not have anything constructive, interesting, or useful to say in the future.

Please ignore me. Thank you.

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