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Author Topic: Bitcoin, a true warrior beats all enemies !!!  (Read 1590 times)
MaTachi
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April 13, 2013, 07:05:42 AM
 #21

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Bitcoin isn't a currency. A currency is a liquid asset that can be exchanged for physical goods and services. Unless you have a hearty coke habit, bitcoin is a security to you (the investor). The price is driven by 100% demand. The nature of bitcoin's structure causes this you can't "ease" bitcoin. A security with pure speculative value (read: a stock without a company) is doomed to be a bubble in the short term and worthless in the long term. Look at how it moved 20-30% in 12 hours on LOW VOLUME. The only thing that could establish bitcoin as an actual "currency" is if businesses started accepting it as payment in a widespread manner, with the shadowy past and clear pump/dump history, good luck with that.

http://www.reddit.com/r/Economics/comments/1c7uee/bitcoin_is_ludicrous_but_it_tells_us_something/c9dwg29

@DanielJonss. On a long enough timeline, the survival rate for everyone drops to zero.
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April 13, 2013, 08:45:46 AM
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Bitcoin isn't a currency. A currency is a liquid asset that can be exchanged for physical goods and services. Unless you have a hearty coke habit, bitcoin is a security to you (the investor). The price is driven by 100% demand. The nature of bitcoin's structure causes this you can't "ease" bitcoin. A security with pure speculative value (read: a stock without a company) is doomed to be a bubble in the short term and worthless in the long term. Look at how it moved 20-30% in 12 hours on LOW VOLUME. The only thing that could establish bitcoin as an actual "currency" is if businesses started accepting it as payment in a widespread manner, with the shadowy past and clear pump/dump history, good luck with that.

http://www.reddit.com/r/Economics/comments/1c7uee/bitcoin_is_ludicrous_but_it_tells_us_something/c9dwg29

I prefer to think this way.
Whether Bitcoin succeeds or not is not based on someone's opinions.
Bitcoin's success is based on whether the users of a such system manage to build up infrastructures, markets, softwares, hardwares for it.
BitcoinLady
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April 13, 2013, 01:49:39 PM
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  Still thinking that Bitcoin is unsafe?

http://www.zerohedge.com/news/2013-03-24/another-gold-shortage-abn-halt-physical-gold-delivery

Herodes
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April 13, 2013, 06:05:33 PM
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Based on a letter to clients over the weekend, it appears Dutch megabank ABN Amro is changing its precious metals custodian rules and "will no longer allow physical delivery." Have no fear, they reassuringly add, your account will be settled at the bid or offer price in the 'market' and "you need to do nothing" as "we have your investments in precious metals."


How reassuring!  Grin
MaTachi
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April 13, 2013, 08:26:24 PM
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@DanielJonss. On a long enough timeline, the survival rate for everyone drops to zero.
hrkristian
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April 14, 2013, 04:49:16 PM
 #26

haha, that gif made me chuckle for a long time.
Bitcoin is just a huge gambling institution with potential for being more.

This $100 ride it's been on the last 24-48 hours is driving me nuts, there's no reason it won't drop further, but then again people have bought up a lot of bitcoins lately, the US stock has gone from 40k+ to 17k at the time of writing this, which means a lot of people have regained faith in it and perhaps enough to start driving the price up.
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