thezerg
Legendary
 Offline
Activity: 1246
Merit: 1010
|
 |
April 30, 2014, 03:02:58 AM |
|
Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it?  I see no irony there. I am not sure you understand the core values of libertairianism in light of this comment. Libertarians tend to defend what others call monopolies. Perhaps I don't. A monopoly is the opposite of free market by definition, so how can one be in favor of the latter without being against the former? If libertarians do not object to monopolies, why do they object to government, which has by defintion the monopoly in many fields (army, criminal punishment, money issuance, etc.)? I suppose libertarians might tolerate monopolies by competence not monopolies by fiat or force. Monopoly is a very tricky subject... |
|
|
|
|
|
|
|
|
|
|
|
|
|
"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
TeeBone
|
|
April 30, 2014, 03:49:00 AM |
|
Why is this not going below 400 or worse ? Here we are sitting like a rock at 440, which was unthinkable back in january. Is there any genuine short-term bull case, besides rockets and slogans ? I'm a tired bear, been at it for 5 months now, and tbh im worn out. I want to close my shorts, but i've gotta play the market. I see no reason to buy before May 10, and/or whatever deadline comes after that. I'll be needing some Bull rehab after this is done.  |
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
 |
April 30, 2014, 04:00:54 AM |
|
|
|
|
|
|
solex
Legendary
Offline
Activity: 1078
Merit: 1002
100 satoshis -> ISO code
|
|
April 30, 2014, 04:05:01 AM |
|
Why is this not going below 400 or worse ? Here we are sitting like a rock at 440, which was unthinkable back in january. Is there any genuine short-term bull case, besides rockets and slogans ? I'm a tired bear, been at it for 5 months now, and tbh im worn out. I want to close my shorts, but i've gotta play the market. I see no reason to buy before May 10, and/or whatever deadline comes after that. I'll be needing some Bull rehab after this is done. The longest bear market was June-November 2011, some 163 days. The current downtrend is 151 days assuming it is still intact and did not bottom out at $339 which would be 132 days. So maybe the trend is as worn out as everyone watching it. Won't be obvious until a decisive breakout is seen which is a return to the $550-$600 area. |
|
|
|
|
shmadz
Legendary
Offline
Activity: 1512
Merit: 1000
@theshmadz
|
|
April 30, 2014, 04:08:31 AM |
|
while I wish for the price to go lower, I fear that ideas are infectious. https://www.youtube.com/watch?v=gC4j-V585UgI thought this transparency of money argument is compelling. just wanted to share. |
|
|
|
|
|
TERA
|
|
April 30, 2014, 04:10:40 AM |
|
Why is this not going below 400 or worse ? Here we are sitting like a rock at 440, which was unthinkable back in january. Is there any genuine short-term bull case, besides rockets and slogans ? I'm a tired bear, been at it for 5 months now, and tbh im worn out. I want to close my shorts, but i've gotta play the market. I see no reason to buy before May 10, and/or whatever deadline comes after that. I'll be needing some Bull rehab after this is done. The longest bear market was June-November 2011, some 163 days. The current downtrend is 151 days assuming it is still intact and did not bottom out at $339 which would be 132 days. So maybe the trend is as worn out as everyone watching it. Won't be obvious until a decisive breakout is seen which is a return to the $550-$600 area. Time and depth lengths from trends of the distant past are proving again and again to be a bad way to analyze events in the present or predict events in the future. People are getting burned by this every day in here. TA is not about taking exact patterns from the past and saying they will happen exactly the same way again with the exact same parameters. TA is dynamic. |
|
|
|
|
|
|
shmadz
Legendary
Offline
Activity: 1512
Merit: 1000
@theshmadz
|
|
April 30, 2014, 04:17:10 AM |
|
Why is this not going below 400 or worse ? Here we are sitting like a rock at 440, which was unthinkable back in january. Is there any genuine short-term bull case, besides rockets and slogans ? I'm a tired bear, been at it for 5 months now, and tbh im worn out. I want to close my shorts, but i've gotta play the market. I see no reason to buy before May 10, and/or whatever deadline comes after that. I'll be needing some Bull rehab after this is done. The longest bear market was June-November 2011, some 163 days. The current downtrend is 151 days assuming it is still intact and did not bottom out at $339 which would be 132 days. So maybe the trend is as worn out as everyone watching it. Won't be obvious until a decisive breakout is seen which is a return to the $550-$600 area. Time and depth lengths from trends of the distant past are proving again and again to be a bad way to analyze events in the present or predict events in the future. agreed. you think this MIT thing is gonna flop as bad as auroracoin? http://venturebeat.com/2014/04/29/mit-is-about-to-become-the-worlds-first-bitcoin-economy/it will be interesting, bitcoin transactions are not that easy, and it would be funny if they all just cashed out for beers and eats at the local pub that accepts it (you know there will be at least one) It's what I would do, back when I was in school  :edit: come to think of it, it's a pretty ballsy experiment. Throw half a million dollars worth of internet money at a bunch of young kids and see what happens. |
|
|
|
|
podyx
Legendary
Offline
Activity: 2338
Merit: 1035
|
|
April 30, 2014, 04:21:46 AM |
|
|
|
|
|
|
|
|
|
Nightowlace
|
|
April 30, 2014, 04:32:52 AM |
|
This thread was so much better when the bulls were here |
|
|
|
|
|
JorgeStolfi
|
|
April 30, 2014, 04:33:07 AM |
|
Just in case someone doesn't know: May 1st is Labor Day in China too. May 1-3 (Thu-Sat) are national holidays: http://www.timeanddate.com/holidays/china/USUALLY that would mean a pretty boring market until Monday May 5, but... |
|
|
|
|
|
bobdude17
|
|
April 30, 2014, 04:35:43 AM |
|
Amazing. Didn't plan to watch the whole thing, but couldn't stop. Thanks for that. |
|
|
|
|
|
|
nioc
Legendary
Offline
Activity: 1624
Merit: 1008
|
|
April 30, 2014, 04:44:08 AM |
|
Why is this not going below 400 or worse ? Here we are sitting like a rock at 440, which was unthinkable back in january. Is there any genuine short-term bull case, besides rockets and slogans ? I'm a tired bear, been at it for 5 months now, and tbh im worn out. I want to close my shorts, but i've gotta play the market. I see no reason to buy before May 10, and/or whatever deadline comes after that. I'll be needing some Bull rehab after this is done. The longest bear market was June-November 2011, some 163 days. The current downtrend is 151 days assuming it is still intact and did not bottom out at $339 which would be 132 days. So maybe the trend is as worn out as everyone watching it. Won't be obvious until a decisive breakout is seen which is a return to the $550-$600 area. Time and depth lengths from trends of the distant past are proving again and again to be a bad way to analyze events in the present or predict events in the future. agreed. you think this MIT thing is gonna flop as bad as auroracoin? http://venturebeat.com/2014/04/29/mit-is-about-to-become-the-worlds-first-bitcoin-economy/it will be interesting, bitcoin transactions are not that easy, and it would be funny if they all just cashed out for beers and eats at the local pub that accepts it (you know there will be at least one) It's what I would do, back when I was in school :edit: come to think of it, it's a pretty ballsy experiment. Throw half a million dollars worth of internet money at a bunch of young kids and see what happens. Not that easy? We are talking about MIT students. I can easily transact with btc and I'm one level above slow. My daughter will miss out as she is a grad student there. |
|
|
|
|
cAPSLOCK
Legendary
Offline
Activity: 3738
Merit: 5127
Whimsical Pants
|
|
April 30, 2014, 04:46:21 AM |
|
Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it? I see no irony there. I am not sure you understand the core values of libertairianism in light of this comment. Libertarians tend to defend what others call monopolies. Perhaps I don't. A monopoly is the opposite of free market by definition, so how can one be in favor of the latter without being against the former? If libertarians do not object to monopolies, why do they object to government, which has by defintion the monopoly in many fields (army, criminal punishment, money issuance, etc.)? Now you're getting warmer. Libertarians tend to oppose coercive monopolies. From the party platform: 2.6 Monopolies and Corporations
We defend the right of individuals to form corporations, cooperatives and other types of companies based on voluntary association. We seek to divest government of all functions that can be provided by non-governmental organizations or private individuals. We oppose government subsidies to business, labor, or any other special interest. Industries should be governed by free markets. Now. Your comparison of bitcoin holders (even hoarders) to monopolies is another issue. How can you make this comparison? There is no monopoly there yet. In fact, the US Government's holdings will eliminate the possibility of any non government monopolistic BTC group even forming. There is no monopoly now, and it will be hard for there to be in the future. I think your political bias might be showing a tad. |
|
|
|
|
PoolMinor
Legendary
Offline
Activity: 1843
Merit: 1338
XXXVII Fnord is toast without bread
|
|
April 30, 2014, 04:48:49 AM |
|
agreed. you think this MIT thing is gonna flop as bad as auroracoin? http://venturebeat.com/2014/04/29/mit-is-about-to-become-the-worlds-first-bitcoin-economy/it will be interesting, bitcoin transactions are not that easy, and it would be funny if they all just cashed out for beers and eats at the local pub that accepts it (you know there will be at least one) It's what I would do, back when I was in school :edit: come to think of it, it's a pretty ballsy experiment. Throw half a million dollars worth of internet money at a bunch of young kids and see what happens. I am sure you are over generalizing most college entrants, whereas the general MIT student should not be classified as a young kid regardless of their actual age. Considering the criteria it takes to be accepted at MIT, I am sure they are more than capable of handling such a minuscule amount of virtual currency. http://collegeapps.about.com/od/GPA-SAT-ACT-Graphs/ss/mit-admission-gpa-sat-act.htm |
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
April 30, 2014, 05:00:54 AM |
|
|
|
|
|
|
|
Mythul
|
|
April 30, 2014, 05:25:50 AM |
|
Countless good news in the last few months, but all we care is the next China rumor......
Sad.
|
|
|
|
|
billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
|
|
April 30, 2014, 05:31:17 AM |
|
Why is this not going below 400 or worse ? Here we are sitting like a rock at 440, which was unthinkable back in january. Is there any genuine short-term bull case, besides rockets and slogans ? I'm a tired bear, been at it for 5 months now, and tbh im worn out. I want to close my shorts, but i've gotta play the market. I see no reason to buy before May 10, and/or whatever deadline comes after that. I'll be needing some Bull rehab after this is done. The longest bear market was June-November 2011, some 163 days. The current downtrend is 151 days assuming it is still intact and did not bottom out at $339 which would be 132 days. So maybe the trend is as worn out as everyone watching it. Won't be obvious until a decisive breakout is seen which is a return to the $550-$600 area. Time and depth lengths from trends of the distant past are proving again and again to be a bad way to analyze events in the present or predict events in the future. agreed. you think this MIT thing is gonna flop as bad as auroracoin? http://venturebeat.com/2014/04/29/mit-is-about-to-become-the-worlds-first-bitcoin-economy/it will be interesting, bitcoin transactions are not that easy, and it would be funny if they all just cashed out for beers and eats at the local pub that accepts it (you know there will be at least one) It's what I would do, back when I was in school :edit: come to think of it, it's a pretty ballsy experiment. Throw half a million dollars worth of internet money at a bunch of young kids and see what happens. auroracoin would seem to be a good comparison. |
|
|
|
|
|
Poll
