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magicmexican
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January 14, 2015, 01:32:19 AM |
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Even when stupid people are right, it does not make ignoring them a bad option at all.
The price going down does not automaticly give every troll out there a credit and make them smart and all knowing.
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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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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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mrkavasaki
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January 14, 2015, 01:32:45 AM |
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how high do you guess are the chance to go sub $200?
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magicmexican
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January 14, 2015, 01:35:49 AM |
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how high do you guess are the chance to go sub $200?
I recall there are some sites where you can bet on BTC price range, right? Kinda like bookies who offer crypto market lines. I would guess the odds of btc going below 200$ would be something like 1.4, this looks about right to me. |
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Sitarow
Legendary
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Activity: 1792
Merit: 1047
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January 14, 2015, 01:36:06 AM
Last edit: January 14, 2015, 01:46:28 AM by Sitarow |
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how high do you guess are the chance to go sub $200?
If I would speculate on some facts I would look at perhaps a new mining option offered by https://megabigpower.com/ running new Bitfury hardware. The key is that when it becomes profitable to buy BTC vs hardware, business opportunities do present themselves. As far as the bear market shorting works even for newbies on a downtrend. How many will be able to cope with a reversal? |
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mrkavasaki
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January 14, 2015, 01:39:48 AM |
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how high do you guess are the chance to go sub $200?
I recall there are some sites where you can bet on BTC price range, right? Kinda like bookies who offer crypto market lines. I would guess the odds of btc going below 200$ would be something like 1.4, this looks about right to me. just only 1.4? really? |
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magicmexican
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January 14, 2015, 01:41:45 AM |
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how high do you guess are the chance to go sub $200?
I recall there are some sites where you can bet on BTC price range, right? Kinda like bookies who offer crypto market lines. I would guess the odds of btc going below 200$ would be something like 1.4, this looks about right to me. just only 1.4? really? 1.4 odds would be something like 71%, too low? |
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Chalkbot
Legendary
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Activity: 896
Merit: 1001
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January 14, 2015, 01:42:50 AM |
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The best thing a bulltard could do right now is to remove all the "trolls" from the ignore list and just fucking listen to some arguments.
Ignorance is not bliss.
This is sinking faster than the Titanic and the bulltards are happily singing on their violins, because they removed all the negativity which, for most of the time, was justified.
Well, most of them are ignored because they failed to make any argument whatsoever. Just saying price is going to 0 over and over is not an argument. |
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twiifm
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January 14, 2015, 01:46:38 AM |
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how high do you guess are the chance to go sub $200?
I recall there are some sites where you can bet on BTC price range, right? Kinda like bookies who offer crypto market lines. I would guess the odds of btc going below 200$ would be something like 1.4, this looks about right to me. just only 1.4? really? You're asking what the delta on a 200 strike put is? I don't know how to calculate but you can calculate using black scholes formula |
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JorgeStolfi
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January 14, 2015, 01:47:35 AM |
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But mainly I do not like scammers and sleazy people who lie to take other people's money. Perhaps because I am rather easy to fool myself. And I have never seen a community so packed with crooks and criminals as the bitcoin community. Politicians, judges, cops, bankers, even professors -- there is plenty of corruption among them, but nowhere near as much as among the bitcoiners.
What? How did you determine the density of scammers among the bitcoiners? This is exactly the opposite of my experience with bitcoin and the community surrounding it. I've never been scammed by anyone here, and in 90% of all of my own transactions, I've opted not to use any type of escrow. OK, I cannot say much about the "common bitcoiner". I have yet to meet one in person. However, judging by what they post on forums and twitter, they behave like Amway reps at their worst. (I don't know how it is in the US, but in the 1990s Amway started an aggressive MLM scheme down here, that forced the courts to intervene.). They push bitcoin even to people who cannot possibly understand the risks, even their own family members. It is hard to believe that those bitcoiners are doing so because they firmly believe that it is a good investment. People who buy Apple stock or Treasury bonds do not try convincing everybody else to do so. The self-interest is obvious: every bitcoiner knows that his profit depends on lots of other people buying the thing for more than he bought it. But my comment above was mostly directed to bitcoin entrepreneurs and other Famous Persons in the bitcoin commuity. I have yet to see one such person that I could suspect of being honest and sincere. Many of them must know that their optimistic predictions and one-sided descriptions of bitcoin are bullshit. Many of them are revealed as crooks by their past (and by their lack or remorse or shame about it). Also, the entire notion that a scammer would only accept a specific currency is ridiculous. A scammer will take whatever you'll give him. I get emails every week from scammers trying to scam, and I've yet to see one requesting bitcoin as the payment mechanism.
YEs, of course, scammers and criminals will use whatever currency they find appropriate. But the fact is that they love bitcoin, much more than cash or any other payment method, for obvious reasons. Look at the current epidemic of ransomware, for example: that "business" would hardly be viable if it were not for bitcoin. [/quote] |
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octaft
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January 14, 2015, 01:48:26 AM |
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Even when stupid people are right, it does not make ignoring them a bad option at all.
The price going down does not automaticly give every troll out there a credit and make them smart and all knowing.
You could say the same about bulls and the price going up when we hit $1000. I remember reading posts like "look at these idiots selling at $900." Someone who yells "up-up-up" and "to-da-moon" all the time is no more a genius when the price rises than a so-called "doom-and-gloomer" is when the price drops. And in the bull case, it's not even a question anymore that they were wrong, considering we never hit $10k/$100k/$onemillionbillionquadrillionk. We're still in the process of figuring out if the doom-and-gloomers are correct, and honestly, I think we have a way better chance of them being correct relative to hitting 100k or whatever ridiculous prices bulls were shouting back when the bubble was inflating. |
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BlindMayorBitcorn
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Activity: 1260
Merit: 1115
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January 14, 2015, 01:49:17 AM |
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how high do you guess are the chance to go sub $200?
If I would speculate on some facts I would look at perhaps a new mining option offered by https://megabigpower.com/ running new Bitfury hardware. The key is that when it becomes profitable to buy BTC vs hardware, business opportunities do present themselves. As far as the bear market shorting works even for newbies on a downtrend. How many will be able to cope with a reversal? What's a 'reversal'  |
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Sitarow
Legendary
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Activity: 1792
Merit: 1047
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January 14, 2015, 01:51:47 AM |
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how high do you guess are the chance to go sub $200?
If I would speculate on some facts I would look at perhaps a new mining option offered by https://megabigpower.com/ running new Bitfury hardware. The key is that when it becomes profitable to buy BTC vs hardware, business opportunities do present themselves. As far as the bear market shorting works even for newbies on a downtrend. How many will be able to cope with a reversal? What's a 'reversal' Market Reversals And How To Spot Them By Matt Blackman |
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coins101
Legendary
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Activity: 1456
Merit: 1000
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January 14, 2015, 01:53:05 AM |
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Dumper finished.
Crook managed to get more than a guv paper thief would get on every $.
Even digital bank robbers do better with Bitcoin.
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JorgeStolfi
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January 14, 2015, 01:53:34 AM |
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The good news is that the network distribution is well balanced.  Weeeelll, yes, all the top 4 companies would have to collude in order to launch a 51% attack (e.g. to take 100% of the rewards, by ignoring blocks mined by other miners and thus orphaning them). |
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Sitarow
Legendary
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Activity: 1792
Merit: 1047
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January 14, 2015, 01:57:42 AM |
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The good news is that the network distribution is well balanced. Weeeelll, yes, all the top 4 companies would have to collude in order to launch a 51% attack (e.g. to take 100% of the rewards, by ignoring blocks mined by other miners and thus orphaning them).  indeed and then loose the faith of the community and go bankrupt for what? People that adopt BTC as a trading platform should understand that many Bitcoin participants from all over the world with great minds are working on the tech to satisfy ego, rather then the speculative opportunities. |
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BlindMayorBitcorn
Legendary
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Activity: 1260
Merit: 1115
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January 14, 2015, 01:58:11 AM |
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how high do you guess are the chance to go sub $200?
If I would speculate on some facts I would look at perhaps a new mining option offered by https://megabigpower.com/ running new Bitfury hardware. The key is that when it becomes profitable to buy BTC vs hardware, business opportunities do present themselves. As far as the bear market shorting works even for newbies on a downtrend. How many will be able to cope with a reversal? What's a 'reversal' Market Reversals And How To Spot Them By Matt Blackman It was complicated. Reads like a bull trap |
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Sitarow
Legendary
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Activity: 1792
Merit: 1047
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January 14, 2015, 01:59:58 AM |
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how high do you guess are the chance to go sub $200?
If I would speculate on some facts I would look at perhaps a new mining option offered by https://megabigpower.com/ running new Bitfury hardware. The key is that when it becomes profitable to buy BTC vs hardware, business opportunities do present themselves. As far as the bear market shorting works even for newbies on a downtrend. How many will be able to cope with a reversal? What's a 'reversal' Market Reversals And How To Spot Them By Matt Blackman It was complicated. Reads like a bull trap It is an important tool used by many bears. |
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ChartBuddy
Legendary
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Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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January 14, 2015, 02:00:03 AM |
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Bitfinex  Bitstamp  Explanation |
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cbeast
Donator
Legendary
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Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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January 14, 2015, 02:00:13 AM |
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The good news is that the network distribution is well balanced. Weeeelll, yes, all the top 4 companies would have to collude in order to launch a 51% attack (e.g. to take 100% of the rewards, by ignoring blocks mined by other miners and thus orphaning them). Which is very overt and public. They don't do that because it would only cause a temporary disruption and would end their businesses and all future profitability. |
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Wandererfromthenorth
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January 14, 2015, 02:02:10 AM |
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The good news is that the network distribution is well balanced. Weeeelll, yes, all the top 4 companies would have to collude in order to launch a 51% attack (e.g. to take 100% of the rewards, by ignoring blocks mined by other miners and thus orphaning them). indeed and then loose the faith of the community and go bankrupt for what? People that adopt BTC as a trading platform should understand that many Bitcoin participants from all over the world with great minds are working on the tech satisfy ego, rather then the speculative opportunities. What if a bad actor paid them to attack the network? It's a big flaw of bitcoin's design. It doesn't matter if "there is no incentive" (although I have doubts about that), you cannot allow something like this to theoretically happen IMHO. Mining centralisation is just another big problem with bitcoin and his POW, by design. |
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