here we go... human 'greed' to blame... funny how it is never about ignorance

[bitterbug]

I'm posting this as a response to this post:

https://bitcointalk.org/index.php?topic=173557.20

Most of the posters are bemoaning the slump in price of bitcoin over the last day or so.

These posters are making more sense to me:

odolvlobo
Wekkel
BitBuster
Severian

I think people are missing the bigger picture i.e. the reason the bubble formed in the first place was due to the logically traceable consequences of central planning. Cyprus is a taste of things to come i.e. monetary panic. If governments - and their not-so-private stooges - can make up the rules as they go along... people will flee into what they perceive as more stable currency.... even though there are problems with that currency which are due to a globally monopolised monetary system.

Unlike governments, the free market learns from it's mistakes - even when they are not of its own doing.

[ByTeCee]

How does the market learn exactly?  Oh thats right the tech boom it learnt after that one ... oh right ... after the housing bubble ... surely must have learnt after that one ... of course it MUST have learnt after Black Monday in 1929 or Black Tuesday in 1987 ... oh wait then there was tulip mania, GFC jeez ...

[earthwormjim1]

nothing is being destroyed.  Bitcoins are pump and dump just like every other crypto coin.  As long as they are volatile and unspendable in real places they will continue to be traded like cards.  I do wish we could get an exchange with  some real commodity options though.  Wheres the stop loss at ?  some basic trading tools are not too much to ask 

[bitterbug]

ByTeCee,

How does the market learn exactly?

By keeping the scope of the state strictly limited, the responsibility for and consequences of bad decisions rests on the bad decision makers.... not the tax payer. That is what you have with a free market. That is what we haven't seen in over a hundred years.... particularly since the rise of government controlled fiat currencies.

The causes of all major booms and busts can be traced to central planning.

[Crenel84]

...the responsibility for...

Hush! The "r" word has been a naughty word for decades, didn't you get the memo? We don't need that archaic concept, we just need to trust the government to comprehend, care about, and provide for our wants and needs.

[bitterbug]

Hush! The "r" word has been a naughty word for decades, didn't you get the memo? We don't need that archaic concept, we just need to trust the government to comprehend, care about, and provide for our wants and needs.

Preeeee-cisely!
 

[ByTeCee]

ByTeCee,

How does the market learn exactly?

By keeping the scope of the state strictly limited, the responsibility for and consequences of bad decisions rests on the bad decision makers.... not the tax payer. That is what you have with a free market. That is what we haven't seen in over a hundred years.... particularly since the rise of government controlled fiat currencies.

The causes of all major booms and busts can be traced to central planning.

Really, how was the tulip boom and bust traceable to central planning?

[bitterbug]

Really, how was the tulip boom and bust traceable to central planning?

'Tulipmania' was the result of government meddling. The government passed laws leading to massive expansion of the money supply, which created the bubble.

[yyrkoon]

Really, how was the tulip boom and bust traceable to central planning?

'Tulipmania' was the result of government meddling. The government passed laws leading to massive expansion of the money supply, which created the bubble.

Funny thing this "government" concept eh ? We do not need them, they need us, yet they have all the power. Just goes to show how the masses truly are sheep.

[ByTeCee]

Really, how was the tulip boom and bust traceable to central planning?

'Tulipmania' was the result of government meddling. The government passed laws leading to massive expansion of the money supply, which created the bubble.

Funny thing this "government" concept eh ? We do not need them, they need us, yet they have all the power. Just goes to show how the masses truly are sheep.

You are a tool of the highest order.

[ByTeCee]

Really, how was the tulip boom and bust traceable to central planning?

'Tulipmania' was the result of government meddling. The government passed laws leading to massive expansion of the money supply, which created the bubble.

Conspiracy theorists and libertarians sh*t me to tears.

[yyrkoon]

Really, how was the tulip boom and bust traceable to central planning?

'Tulipmania' was the result of government meddling. The government passed laws leading to massive expansion of the money supply, which created the bubble.

Funny thing this "government" concept eh ? We do not need them, they need us, yet they have all the power. Just goes to show how the masses truly are sheep.

You are a tool of the highest order.

Really ? Is that the best you can do ?

Yeah wow, toss out a hard to grasp concept ( I guess ? ) and suddenly the "smart people" start tossing 5 letter words, 8 word sentences at ya . . . I guess thinking for ones self truly is a rarity.

[yyrkoon]

Really, how was the tulip boom and bust traceable to central planning?

'Tulipmania' was the result of government meddling. The government passed laws leading to massive expansion of the money supply, which created the bubble.

Conspiracy theorists and libertarians sh*t me to tears.

Perhaps you should try pulling your head out sometime.

[bitterbug]

You are a tool of the highest order.

Conspiracy theorists and libertarians sh*t me to tears.

What's it called? ... when you fail to address the argument but attack someone's character instead? Ad Hominem? Isn't that it?

[yyrkoon]

I'm posting this as a response to this post:

https://bitcointalk.org/index.php?topic=173557.20

Most of the posters are bemoaning the slump in price of bitcoin over the last day or so.

These posters are making more sense to me:

odolvlobo
Wekkel
BitBuster
Severian

I think people are missing the bigger picture i.e. the reason the bubble formed in the first place was due to the logically traceable consequences of central planning. Cyprus is a taste of things to come i.e. monetary panic. If governments - and their not-so-private stooges - can make up the rules as they go along... people will flee into what they perceive as more stable currency.... even though there are problems with that currency which are due to a globally monopolised monetary system.

Unlike governments, the free market learns from it's mistakes - even when they are not of its own doing.

Funny thing is though Cyprus was the tip of the so called iceberg. So with that in mind I think there will be more to follow. Who knows who is really next. But I think it is a given that more *will* follow.

What do I mean by this ? I mean that "we" will get to do this all over again, when the next economy collapses. So . . .buy low, sell high, and wait for it.

[Crenel84]

You are a tool of the highest order.

Yeah! That'll learn 'em! When logic and facts fail, call names instead. Winning strategy every time.

[AlgoSwan]

Neither tulip mania nor fiat manias resonates BTC. Why?

1. Limited supply
2. No regulation
3. Highly sophisticated

Last two weeks price actions wasn't about anything greed or human error. Very thin market moved both directions with spikes and chrash-like (someone called it panic selling). Hell no! BTC market made record highs and chrash in one day because of majority of the traders are so small for the manipulator. I mean manipulator as an insider. An insider could be a manufacturer of ASICs or unregulated exchange owner or some secret alliance formed by pool owners who knows. One thing we should focus on, BTC is the new medium no matter its prices,,, we all know BTC is not fiat, limited supply and no central governing body to manipulate its prices. They can't take your BTC's if you don't sell it or make a donation to a scammer.

So, mining and holding BTC's and not selling around $260 wasn't greed show by BTC users. It simply means, BTC miners and holders had no interest on neither trading nor speculation. You know the main philosophy of BTC and other cryptocurrencies is very very different than fiat even tangible gold and silver. And BTC exchanges will never become another casino.

Mine it,
hold it,
spend it,
pay it,
thats it!