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Author Topic: $236 - What BS - Selling OUT today!  (Read 7310 times)
bonker
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April 10, 2013, 08:23:19 AM
 #81



This is an important note. We have to keep cashing out to keep the economy growing. While some people may be loading up their positions, many of the people who buy your coins will be first time purchasers. We need to get whole BTC distributed as widely as possible, as quick as possible. The 8 decimal places is what will give us our depth, eventually. Right now though, we need not people to have as many as possible, but as many people as possible to have some.

This is true, we need a better Bitcoin wealth distribution. Same goes with mining, that's why ASICs make me nervous, too much centralisation is a BTC killer.

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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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April 10, 2013, 08:28:41 AM
 #82


This is true, we need a better Bitcoin wealth distribution. Same goes with mining, that's why ASICs make me nervous, too much centralisation is a BTC killer.

Again...


17ELzzeG5bQnzRrCNhuVFQkSA34zqb5VcR
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April 10, 2013, 08:38:21 AM
 #83


This is true, we need a better Bitcoin wealth distribution. Same goes with mining, that's why ASICs make me nervous, too much centralisation is a BTC killer.

Again...


17ELzzeG5bQnzRrCNhuVFQkSA34zqb5VcR

So since we already have bitcoin millionaires, bitcoin beggars are a logical next step. Waiting for bitcoin whores personally Smiley Casascius 1BTC coins would come in handy.

i am satoshi
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April 10, 2013, 09:01:22 AM
 #84

Maybe you should put your money into a alt coin before you give up completely?

I would have thought Litecoin can only rally on this news!

The only purpose of LTC that I can see is to trade for BTC. LTC will not last long.
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April 10, 2013, 09:11:00 AM
 #85

I'm not going to sell my bitcoins for euros or dollars, no matter what price. Sure, should there be an extreme case and I quickly need some fiat money I might sell some coins.
But basically I'm happy to have my bitcoins and don't really give much about current exchange rates.

Why? Because I think the bitcoin system is great and I want to use bitcoins for financial transactions. I don't wanna use bitcoins to gather more dollars or euros.

So I'm happy to see the bitcoin price at $250, but I would also be happy at $1,000 or $50 –  because one bitcoin always stays one bitcoin.
It might take some time but I hope that at some point the BTC/$ exchange rate won't play such a big role in people's minds anymore.

(I know that the OP is in the speculations sub board, so my position might appear weird to some)

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April 10, 2013, 09:24:57 AM
 #86


This is true, we need a better Bitcoin wealth distribution. Same goes with mining, that's why ASICs make me nervous, too much centralisation is a BTC killer.

Again...


17ELzzeG5bQnzRrCNhuVFQkSA34zqb5VcR

So since we already have bitcoin millionaires, bitcoin beggars are a logical next step. Waiting for bitcoin whores personally Smiley Casascius 1BTC coins would come in handy.

Yes I've seen people begging for bit coins via an address in their signature since I came here.  I only as in this thread as people seem to be advocating a "fairer distribution " of coins.  I personally think this is a bad idea.  But if people want to spread it around I'll post an address...  Like you have in your sig.
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April 10, 2013, 12:38:02 PM
 #87

Keep in mind the oldest of miners never really had anything to do with their coins until now as there were barley any merchants accepting them, but that is changing rapidly with new media exposure and saving the asses of many Cyprus investors.

ASICs represent a serious hardware investment, and ups the game and difficulty in calculating blocks. Miners will begin to fall into a couple different categories going forward-

1. Garage mines go Pro, level up with ASIC as a real business venture instead of a hobby, and compete with other professional miners in a neo-goldrush, go big or go home
2. Some will invest a little into ASIC for residual income but go no further
3. Garage miners not wanting to invest that much will convert to LTC/TRC mining instead as GPUs are still viable there, so those currencies will get a natural power boost in the wake of Bitcoins evolution
4. Fold up shop and keep their BTC locked away for later, play the markets with some of it perhaps.

But, I think most are gearing toward the first two options, and that wealth will come seeping back out to fund new hardware and business structure as more merchants accept them. Mining is about to become a full blown cottage industry.

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April 10, 2013, 02:27:07 PM
 #88

lines on graphs that go up don't have to (a) keep going up unsustainably, or (b) turn in the opposite direction. This is a false dichotomy / false choice fallacy. They can level out at a nice even range with minimal volatility once adoption + realized application is sufficient.
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I tweet crypto nonsense: https://twitter.com/DunningKruger_
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April 11, 2013, 04:22:55 AM
 #89

OP is a genius
tryingtobeperfect
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April 11, 2013, 04:39:16 AM
 #90

Smart move. Now u can start buying(If at all, someone is ready to sell).Smiley
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April 11, 2013, 04:54:46 AM
 #91

... im letting my last block go today....
Doob

Remember the reason you got involved in the first place save a few coins for your grand kids at least 10%.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
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April 11, 2013, 04:56:48 AM
 #92

https://bitcointalk.org/index.php?topic=172985.0

Very long @ $168. 

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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jojo69
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April 11, 2013, 05:04:35 AM
 #93

So OP

your newsletter?

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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April 11, 2013, 07:59:33 AM
 #94

OP has now quit his day job to become a full time financial advisor Smiley
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