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fonzie
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February 09, 2015, 07:36:28 AM |
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Remember kids... the price doesn't matter, bad news doesn't matter, China doesn't matter. Nothing matters in BTCland other than pictures of honey badgers and walls of text proclaiming the NWO. Lemme save you the time. He says that money only has value because we believe it has value. I suppose that's true in a certain context but useless. Economics professors (he's a prof) only have value because we believe they have value also. What determines MARKET value for anything is supply and demand and what determines the value of something to an individual is marginal utility. Any Econ Prof worth his salt will tell you that the first week of Econ 101.
BillyJoeAllenRedneck firefighter who can't spell his own home state correctly
And of course even those with an education are wrong, wrong, wrong. So, make sure to keep buying BTC with your credit card...if Cletus here says its good, why worry.  |
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octaft
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February 09, 2015, 07:38:46 AM |
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Remember kids... the price doesn't matter, bad news doesn't matter, China doesn't matter. Nothing matters in BTCland other than pictures of honey badgers and walls of text proclaiming the NWO. Lemme save you the time. He says that money only has value because we believe it has value. I suppose that's true in a certain context but useless. Economics professors (he's a prof) only have value because we believe they have value also. What determines MARKET value for anything is supply and demand and what determines the value of something to an individual is marginal utility. Any Econ Prof worth his salt will tell you that the first week of Econ 101.
BillyJoeAllenRedneck firefighter who can't spell his own home state correctly
And of course even those with an education are wrong, wrong, wrong. So, make sure to keep buying BTC with your credit card...if Cletus here says its good, why worry. DAAAAAAAYUMMMMMM! https://www.youtube.com/watch?v=95SYdjRVCR0 |
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12345mm
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February 09, 2015, 07:56:30 AM |
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cucumber wata for customer only !
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ChartBuddy
Legendary
 Online
Activity: 2660
Merit: 2364
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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February 09, 2015, 07:59:53 AM |
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caga
Full Member
 Offline
Activity: 238
Merit: 100
www.secondstrade.com - 190% return Binary option
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February 09, 2015, 08:04:51 AM |
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 it seem price has staibilized it self above 220 mark ? im happy with this... i hope 220 all the way to 2016, agree ? Depends. Inflation is always good. And for people into mining they would definitely want it to increase. |
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noobtrader
Legendary
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Activity: 1456
Merit: 1000
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February 09, 2015, 08:12:49 AM |
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it seem price has staibilized it self above 220 mark ? im happy with this... i hope 220 all the way to 2016, agree ? Depends. Inflation is always good. And for people into mining they would definitely want it to increase. with inflation then the price of bitcoin should be lower and lower... |
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Phillis
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February 09, 2015, 08:13:26 AM |
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meh more sideways, I want some volatility!
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600watt
Legendary
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Activity: 2338
Merit: 2106
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February 09, 2015, 08:38:19 AM |
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meh more sideways, I want some volatility!
let´s beat the downtrend by moving sideways through all the downtrend lines the chartists can draw  it will take another four weeks. if we are still above 200 in 4 weeks... mooooooon! |
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noobtrader
Legendary
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Activity: 1456
Merit: 1000
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February 09, 2015, 08:47:06 AM |
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meh more sideways, I want some volatility!
let´s beat the downtrend by moving sideways through all the downtrend lines the chartists can draw it will take another four weeks. if we are still above 200 in 4 weeks... mooooooon! i can agree with that |
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ChartBuddy
Legendary
Online
Activity: 2660
Merit: 2364
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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February 09, 2015, 08:59:54 AM |
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caga
Full Member
Offline
Activity: 238
Merit: 100
www.secondstrade.com - 190% return Binary option
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February 09, 2015, 09:01:18 AM |
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it seem price has staibilized it self above 220 mark ? im happy with this... i hope 220 all the way to 2016, agree ? Depends. Inflation is always good. And for people into mining they would definitely want it to increase. with inflation then the price of bitcoin should be lower and lower... Why is that ? |
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hdbuck
Legendary
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Activity: 1260
Merit: 1002
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February 09, 2015, 09:04:28 AM |
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it seem price has staibilized it self above 220 mark ? im happy with this... i hope 220 all the way to 2016, agree ? Depends. Inflation is always good. And for people into mining they would definitely want it to increase. with inflation then the price of bitcoin should be lower and lower... Why is that ? because there is more bitcoins entering the market day after day.. |
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macsga
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Activity: 1484
Merit: 1002
Strange, yet attractive.
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February 09, 2015, 09:19:21 AM |
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The catalyst needed for many more people to enter BTC is something that proves the fiat system is collapsing. It's the story everybody wants to say it's true (especially those working into the financial sector), but nobody says it because their salary depends on it. Don't lose time searching miners dumping their coins, or companies manipulating the price. This was, is and will be here for long time to come. Articles like this http://www.ft.com/cms/s/0/8fd55736-ae0a-11e4-919e-00144feab7de.htmlis what I find more important, since Cyprus last year. Doubt it? Just wait and see. |
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JorgeStolfi
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February 09, 2015, 09:23:52 AM |
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Another news report on the mycoin.hk mining ponzi below, only a few more details: https://www.techinasia.com/bitcoin-pyramid-scheme-hong-kong-387m-investors-money/I did not know the amount of the GBL scam: The broader points of the sceme look very similar to GBL, a bitcoin exchange also based in Hong Kong that went dark in November 2013 with about US$4.1 billion of investors’ money. I suppose that the figure is computed from BTC at the Mv/2013 price? Anyway that would make GBL the largest bitcoin-related scam of all time. I recall reading, some time later, that the GBL owners had been caught by the Chinese poliice, somewhere in the Mainland. That also makes GBL one of the few (only two?) bitcoin scams whose authors were caught and tried. |
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JorgeStolfi
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February 09, 2015, 09:37:00 AM |
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Another random news post: BitXChange.ro, a Bitcoin exchange in Romania, fired their chief programmer last October, and he has been holding their servers and user account hostage since then. Exchange owners advised clients to withdraw everything, and claims to have been processing all withdrawals by hand since then. https://www.btcxchange.ro/news |
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Newar
Legendary
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Activity: 1358
Merit: 1003
https://gliph.me/hUF
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February 09, 2015, 09:44:30 AM |
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Another news report on the mycoin.hk mining ponzi below[...] Another random news post: BitXChange.ro, [...] Both without influence on the price. |
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ChartBuddy
Legendary
Online
Activity: 2660
Merit: 2364
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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February 09, 2015, 09:59:52 AM |
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JorgeStolfi
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February 09, 2015, 10:04:37 AM |
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Another news report on the mycoin.hk mining ponzi below[...] Another random news post: BitXChange.ro, [...] Both without influence on the price.Well, before closing for good, mycoin.hk had set the price of bitcoin to ~1.5 USD for the purpose of calculating client payouts. The BitXChange.ro case highlights another kind of risk of the exchanges. While their servers may be replicated and protected against external hackers, they may still have a single programmer who could do similar damage. Indeed, like MtGOX and several other examples, their software team often consists of only one programmer. Blockchain.info seems to be another example, given that they uploaded the buggy RNG without any internal review of the code. |
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Elwar
Legendary
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Activity: 3598
Merit: 2386
Viva Ut Vivas
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February 09, 2015, 10:13:02 AM |
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Another random news post: BitXChange.ro, a Bitcoin exchange in Romania, fired their chief programmer last October, and he has been holding their servers and user account hostage since then. Exchange owners advised clients to withdraw everything, and claims to have been processing all withdrawals by hand since then. https://www.btcxchange.ro/newsThat was early December when that happened. They were hoping to have it back up in January but it looks like it will not return. |
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Newar
Legendary
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Activity: 1358
Merit: 1003
https://gliph.me/hUF
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February 09, 2015, 10:27:04 AM |
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Another news report on the mycoin.hk mining ponzi below[...] Another random news post: BitXChange.ro, [...] Both without influence on the price. Well, before closing for good, mycoin.hk had set the price of bitcoin to ~1.5 USD for the purpose of calculating client payouts. Doesn't show on the charts. The BitXChange.ro case highlights another kind of risk of the exchanges. While their servers may be replicated and protected against external hackers, they may still have a single programmer who could do similar damage. Indeed, like MtGOX and several other examples, their software team often consists of only one programmer. Blockchain.info seems to be another example, given that they uploaded the buggy RNG without any internal review of the code.
Anything you don't control the private key are IOUs at best. Nothing new here. |
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