How I feel with people desperately buying above the $55 resistance...

[ruski]

With nothing strongly binding the value of your currency Roger, it will trade freely exactly the same as BTC. With something binding it, nobody would use it, because that's what they have fiat for.

[ManBearPig]

I don't like charts, trend analysis, fundamentals or mass psychology.

I prefer bias and hot-linked images from films.

Sometimes I think I've wandered into Reddit by mistake.

To the world, this forum is the face of Bitcoin.

I do wonder what they think

[ruski]

I don't like charts, trend analysis, fundamentals or mass psychology.

I prefer bias and hot-linked images from films.

Sometimes I think I've wandered into Reddit by mistake.

To the world, this forum is the face of Bitcoin.

I do wonder what they think

Isn't that guy with the serial killer grin holding a BTC up in sharp focus also the "face" of bitcoin?

[ManBearPig]

I don't like charts, trend analysis, fundamentals or mass psychology.

I prefer bias and hot-linked images from films.

Sometimes I think I've wandered into Reddit by mistake.

To the world, this forum is the face of Bitcoin.

I do wonder what they think

Isn't that guy with the serial killer grin holding a BTC up in sharp focus also the "face" of bitcoin?

Not if you Google "bitcoin discussion"

[Meman]

its not meant to be a get rich quick scheme.  its still better than holding fiat IMO.

It's great to trade goods and services with. It's not good as a store of value. Mark my words.

[RogerR]

With nothing strongly binding the value of your currency Roger, it will trade freely exactly the same as BTC. With something binding it, nobody would use it, because that's what they have fiat for.

Well, but it is backed by a pool of ever-increasing fiat funds. With a rising pool comes a rising value. In a way it would more resemble a stock than a fiat as the profits of the pool (raised through bid/ask spreads), would slowly raise the value of the money. Also, people could eventually buy themselves into the pool, thus further raising the wealth of the ecosystem (at minimally growing amount of coins in circulation). This isn't the same as fiat at all, that's the whole point.

[Wuji]

its not meant to be a get rich quick scheme.  its still better than holding fiat IMO.

How is that?  Even at its worst most people in Cyprus will not have lost as much purchasing power or stored value as people who bought above $100.  Fiat, in most countries, is a much, much safer place to store money than bitcoin.

Hey man stop being realistic.  Don't you know it is the bears posts on the forums that are making the price go down.  One Bitcoin is clearly worth a billion dollars.  Us fools are just too in touch with reality to get it.  

[steamboat]

With nothing strongly binding the value of your currency Roger, it will trade freely exactly the same as BTC. With something binding it, nobody would use it, because that's what they have fiat for.

 (at minimally growing amount of coins in circulation).

And who is to control the increase of coins? Everything you've written suggests building a "new" monetary instrument built on the foundation of the current monetary system.

We do not need a central bank.

Bitcoin is in the early stages of price discovery, and as such, will have massive volatility as the FREE market discovers its value.

We have been given a means to throw off the shackles of repression, and many on this forum, and the public at
large, continue to call for it to be chained up. If you don't believe in bitcoin, don't use it. If you're allowing market manipulation to sway your views, you deserve to lose your freedom.

[BitcoinAshley]

You simply can't do shit with your Bitcoins yet other than hold and/or sell back to fiat

MYTH

Please, allow me to school you. Here are some things I can do with my bitcoins:
-Buy food at restaurants (one service contracts with over a thousand atm)
-Buy tons of random shit at sites like bitcoinstore and bitmit - computers, clothes, etc.
-Send money to relatives in other countries instantly
-Pay for a VPN and other internet services
-Buy a car (heck, buy ANYTHING from an individual who uses bitcoin)
-Operate an OTC exchange/broker service
-Buy precious metals like silver, gold, platinum, etc
-Buy from thousands and thousands of online merchants through bitpay (YES, BTC is currently too volatile so many merchants peg to USD, your point?)
-Evade income taxes so I don't have to pay for innocent children to get slaughtered by ObamaDrones (disclaimer: I don't even have to evade income taxes since my deductions allow for a TI lower than the minimum, no law-breaking here)
-Donate to many charities and non-profit organizations, as well as your favorite open-source projects
-Send money past borders in countries that have capital controls such as Cyprus and Argentina
-The current year's increase in price is appetizing
-Hedge against central bank inflation (deflation = people don't spend is a myth, gold and silver were used for thousands of years)
-Oh yeah, buy drugs and guns from sketchy .onion sites, and tits on stripcoin of course.

COMMON FUD MYTHS SPREAD BY PEOPLE OF QUESTIONABLE INTELLIGENCE ON THESE FORUMS

1) Bitcoin can't be used for anything except drugs and child porn
2) Deflation is bad, inflation is good
3) The iniquity of central banksters is replaced by the iniquity of early adoption, so we should have a central-bank-like mechanism in bitcoin, further reducing its decentralization
4) Fiat is good!
5) Bitcoin is guaranteed to fail, here's my sketchy, vaguely-defined alt-coin concept that rests on my complete misunderstanding of monetary theory, and that requires a manipulating regulatory body, that is also vaguely defined, but when you accuse me of making a Fedcoin or a centralized fiat, I flatly deny it.

etc. etc.

[Richy_T]

I don't have the time right now to do it myself [...]

[...] I am still waiting for arguments as to why such a system would fail.

I think you have your answer. You have to have an incentive.