Cconvert2G36
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February 23, 2015, 08:12:49 AM |
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Notice I didn't say everyone else must not ignore him.
I think the guy's funny.
And I'm bullish on BTC's long term future... imagine that. I can ride this thing to 0, or 10k, and someone typing on a forum has nothing to do with it.
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silverfuture
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central banking = outdated protocol
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February 23, 2015, 08:32:28 AM |
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Notice I didn't say everyone else must not ignore him.
I think the guy's funny.
And I'm bullish on BTC's long term future... imagine that. I can ride this thing to 0, or 10k, and someone typing on a forum has nothing to do with it.
Ok, carry on then. Different strokes for different folks ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Edit: there was one pic notlambchop posted that made me lol so I will give him that. P.S. Are you truly a newbie or have you been around for a while? You seem to be quite reasonable and knowledgeable about the forum.
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silverfuture
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central banking = outdated protocol
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February 23, 2015, 08:32:56 AM |
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pretty pathetic bear raid attempt by the greedy noisy, bearpig trolls ... seems like it had to be done though as price was breaking out sideways so they are getting extremely desperate now, as we can tell from the synchronised hating fest that seemingly came from nowhere in time for the quietest time of the market ... chinese NY over tomorrow and fiat starts hitting the exchanges again, need to paint the tape for that
The beartrolls are scammers of the highest order. Worse than neobee or a host of other failed or scammy bitcoin ventures and are just as fraudulent in trying to scare emotionally or financially weak people out of their coins. At least the outright scams asked nicely instead of using fear or emotional engineering. They lie about their objectives and try to obfuscate the truth by making it seem like their motivations for posting are out of moral duty to save fools from losing their money when in fact they are not ethical agents, just greedy book talkers or seriously confused dipshits
The short term price movements mean little in the face of what bitcoin has done in a very short time. Amateur hour is pretty much over. Stronger hands that are capable and ethically motivated are gearing up the engines and the real crooks are looking to game or exploit this experiment (which is expected and necessary).
However bad the first wave has been (Hello MagicalTux!), they did bootstrap a whole transparent world value ledger and multibillion dollar value economy to this point and must be lauded for their fearlessness of living on the lunatic fringe that also happen to be the spearhead of innovation. Here's to the ones crazy enough to think they can change the world.
TL;DR for newbies : Trollbear trader scammers want to cheat you out of your chance of a decent future stake in the most exciting technology/economy shift since the internet itself. Don't be stupid and put yourself at risk in the short term markets and risk another gox, wait for legitimate and secure exchanges or even better just spend them directly when it is ubiquitous. Do this instead FTW!:
1. Buy as much as is comfortable and healthy for your budget at as close to the bottom of long term bear cycles as possible. 2. Put duplicate private keys in cold storage in multiple safe locations and forget about them for a while.
3. learn and grow as an individual learning about economics, ethics, business, blockchain tech, etc. and develop your self discipline so when you have a lot of wealth you can use it wisely instead of what often happens to lottery winners, successful thieves or scammers, or other instantly rich, soon to be poor folks who often get very sick from not knowing how to handle all the stresses and temptations of managing wealth.
4. Have a long term vision and set goals for it, filling in the short term steps and details along the way.
5. Profit and enjoy your wealth and life with people who love you properly, building good things to exchange and taking on challenges to the benefit of yourself and your fellow humans. Where is the "like" button. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Wisdom is hard to find in a world of foolishness. #1- Check (always wishing I had more to invest on the bottom of these cycles but that is the way it goes I guess) #2- Check (thanks to technically minded husband) #3- Check (this thread can be difficult to learn much on but I have actually learned quite a bit on other threads here! I feel like I have had a crash course in Economics in just the little under 2 years I have been involved in the BTC community. So much to learn) #4- Check (Patience is a virture. Long term thinking is key.) #5 Check (Had some "profit" but nothing really life changing yet. The goal is to at least pay for our kids private college without any debt with the help of our BTC investments, God willing.) Edit: I did use a small amount of BTC, some of which was even gifted to me by one benevolent community member here, to go on an amazing and life changing trip to India a few months ago. I am looking forward to doing even more world-wide outreach when the funds are available to do so. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Great to hear Bitchick, I missed your reply in the scuffle earlier and don't only want to waste energy on that when there are better contributing members like yourself to respond to. Sounds like a plan for success for you and proof for any who would question it that there are plenty of longer term bitcoiners with level heads and a moral compass who may not be as vocal as the assclown posse are. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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ChartBuddy
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February 23, 2015, 08:59:32 AM |
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billyjoeallen
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February 23, 2015, 09:29:00 AM |
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Not saying you're wrong or right, but include context. Or ignore it all because it is wholly meaningless.
I don't see how any of that makes the originally quoted statement any less xenophobic. Whatever my moral flaws
It's less "moral flaws" and more "stunning amounts of ignorance." Save your Ayn Rand bullshit, too. I've said it before and I'll say it again: the last time a bunch of people followed the teachings of a shitty fiction writer, the world got Scientology. Xenophobic? Of course I am! Xenon is dangerous stuff ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Rand is influential, but her work is far from my favorite. You should read "The Moon is a Harsh Mistress" by R. Heinlein. Puts both Ayn Rand and L. Ron Hubbard to shame. The character Dr. Bernardo de la Paz is philosophically the polar opposite of Jorge, but it's who I picture in my mind whenever I think of him.
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ChartBuddy
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February 23, 2015, 09:59:30 AM |
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Afrikoin
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February 23, 2015, 10:00:39 AM |
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Half-true article on the history of money. Szabo did it better, but this is more entertaining. http://www.zerohedge.com/news/2015-02-21/why-does-fiat-money-seemingly-workBy contrast, in a fiat money system in which interest rates are administered by a bureaucratic central economic planning agency the signals sent by interest rates to entrepreneurs about expected future consumer demand and the true cost of capital are continually falsified, and thereby encourage malinvestment of scarce capital. Phases during which the supply of credit and money expands strongly and malinvestments proliferate are known as “economic booms”, and everybody loves them. When a boom turns to bust and the liquidation of malinvested capital becomes necessary, few people are aware that the preceding boom is at fault. And so the cry for more monetary and fiscal intervention arises, which lengthens and deepens the malaise by putting malinvested capital on artificial life support. A near-textbook explanation of Austrian Business Cycle Theory. In Austrian economics, the capital structure of an economy is key. Booms and busts are caused/amplified by distortions in the market rate cost of money (interest). The fact that these distortions are intentionally caused by Central bankers implementing Keynesian policy is why Austrians and Keynesians have such animosity towards each other. The bitcoin economy is currently experiencing a bull market in the fiat asset class due to deflation/ credit contraction in the fiat world. Central banks have hit the zero bound (interest rates can't go below zero or people will just hold onto their money) and have also resorted to outright counterfeiting (quantitative easing), but the consumer still won't spend. They tools they used to boost aggregate demand merely pushed demand forward and now there is little else they can do. The bitcoin bear market looked at from the other direction is a fiat boom that will inevitably bust, but Keynes was right about one thing: Markets can stay irrational longer than you can stay solvent, which is why leveraged speculating is so dangerous even if you get the fundamentals right. " We asked him where he thought the gold price will be in five years and he said “measurably higher.” In private conversation I asked him about the outstanding debts… and that the debt load in the U.S. had gotten so great that there has to be some monetary depreciation. Specially he said that the era of quantitative easing and zero-interest rate policies by the Fed… we really cannot exit this without some significant market event… By that I interpret it being either a stock market crash or a prolonged recession, which would then engender another round of monetary reflation by the Fed. " http://www.zerohedge.com/news/2015-02-22/alan-greenspan-warns-there-will-be-%E2%80%9Csignificant-market-event-something-big-going-hapAlso, this sounds like creative destruction - schumpeter. Everything on this planet runs on polarity. Ying and Yang. No booms without busts.
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billyjoeallen
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February 23, 2015, 10:10:11 AM |
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Half-true article on the history of money. Szabo did it better, but this is more entertaining. http://www.zerohedge.com/news/2015-02-21/why-does-fiat-money-seemingly-workBy contrast, in a fiat money system in which interest rates are administered by a bureaucratic central economic planning agency the signals sent by interest rates to entrepreneurs about expected future consumer demand and the true cost of capital are continually falsified, and thereby encourage malinvestment of scarce capital. Phases during which the supply of credit and money expands strongly and malinvestments proliferate are known as “economic booms”, and everybody loves them. When a boom turns to bust and the liquidation of malinvested capital becomes necessary, few people are aware that the preceding boom is at fault. And so the cry for more monetary and fiscal intervention arises, which lengthens and deepens the malaise by putting malinvested capital on artificial life support. A near-textbook explanation of Austrian Business Cycle Theory. In Austrian economics, the capital structure of an economy is key. Booms and busts are caused/amplified by distortions in the market rate cost of money (interest). The fact that these distortions are intentionally caused by Central bankers implementing Keynesian policy is why Austrians and Keynesians have such animosity towards each other. The bitcoin economy is currently experiencing a bull market in the fiat asset class due to deflation/ credit contraction in the fiat world. Central banks have hit the zero bound (interest rates can't go below zero or people will just hold onto their money) and have also resorted to outright counterfeiting (quantitative easing), but the consumer still won't spend. They tools they used to boost aggregate demand merely pushed demand forward and now there is little else they can do. The bitcoin bear market looked at from the other direction is a fiat boom that will inevitably bust, but Keynes was right about one thing: Markets can stay irrational longer than you can stay solvent, which is why leveraged speculating is so dangerous even if you get the fundamentals right. " We asked him where he thought the gold price will be in five years and he said “measurably higher.” In private conversation I asked him about the outstanding debts… and that the debt load in the U.S. had gotten so great that there has to be some monetary depreciation. Specially he said that the era of quantitative easing and zero-interest rate policies by the Fed… we really cannot exit this without some significant market event… By that I interpret it being either a stock market crash or a prolonged recession, which would then engender another round of monetary reflation by the Fed. " http://www.zerohedge.com/news/2015-02-22/alan-greenspan-warns-there-will-be-%E2%80%9Csignificant-market-event-something-big-going-hapAlso, this sounds like creative destruction - schumpeter. Everything on this planet runs on polarity. Ying and Yang. No booms without busts. Well yeah. The only way to fix the capital structure is for the good bad capital managers to go broke so the capital gets transferred to the good capital managers. You could attempt to do this through central planning but you would fail due to the economic calculation problem. So basically I agree. There is no way to for interest rates to normalize w/o a crash.
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tarmi
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February 23, 2015, 10:12:49 AM |
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...
the next big squeeze is on the shorts
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I could be wrong though
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![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fimg1.wikia.nocookie.net%2F__cb20140611160252%2Fvideogames-fanon%2Fimages%2F6%2F6f%2FYou_don%27t_say%253F.jpg&t=665&c=SIsyM-7G5Zq01w) tarmi, are you bullish? no. I see some buliish signals, but I am not convinced yet.
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ChartBuddy
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February 23, 2015, 10:59:30 AM |
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ndnh
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February 23, 2015, 11:10:29 AM |
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...
the next big squeeze is on the shorts
...
I could be wrong though
...
![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fimg1.wikia.nocookie.net%2F__cb20140611160252%2Fvideogames-fanon%2Fimages%2F6%2F6f%2FYou_don%27t_say%253F.jpg&t=665&c=SIsyM-7G5Zq01w) tarmi, are you bullish? no. I see some buliish signals, but I am not convinced yet. I am bullish. Can't go down anymore below 210. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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LFC_Bitcoin
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February 23, 2015, 11:54:14 AM |
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Good morning gentlemen!
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NotHatinJustTrollin
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February 23, 2015, 11:57:20 AM |
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Did you listen? Whoa big drop all of the sudden! What's going on?
Since when is a 10$ drop a big one? Btc was boring for last 2 days and big traders decided to make some money... Simple as that. Back to 245$ in next few hours, there is to much shorts and people will start closing them if this doesn't drop lower in an hour or two ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Don't think so: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FB-dH2XPIEAAgtjF.png%3Alarge&t=665&c=Bi0pgCJFRKWfaA) A few more dumps and the line will be totally breached. It's over. Get out. Feel free to ignore that advice, hodl and lose tho.
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ChartBuddy
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February 23, 2015, 11:59:33 AM |
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8up
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February 23, 2015, 12:30:32 PM |
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LIN vs. LOG![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fwer8hzD.png&t=665&c=h7bGCLCjBBgYYQ)
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NotHatinJustTrollin
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February 23, 2015, 12:35:29 PM |
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LIN vs. LOG![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fwer8hzD.png&t=665&c=h7bGCLCjBBgYYQ) Linear scale is useless for drawing lines.
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LFC_Bitcoin
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February 23, 2015, 12:48:14 PM |
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Bullish - Another Wall Street Journal Mention February 23, 2015 4:04 AM Rakuten ‘Probably’ to Accept Bitcoin By TAKASHI MOCHIZUKI Japanese e-commerce giant Rakuten is considering accepting the virtual currency bitcoin as payment, founder and Chief Executive Hiroshi Mikitani said. “We are thinking about it, and we probably will,” Mr. Mikitani said at the Rakuten Financial Conference in Tokyo, where panelists discussed crypto-currencies and other alternatives to cash and credit cards. “We would like to be open.” Mr. Mikitani declined to specify when the company might decide, saying it was a trade secret. Rakuten is one of the largest Japanese companies to take an interest in bitcoin and other digital currencies. It has formed a department to study digital currencies and invested in bitcoin-related ventures in the U.S., including San Francisco-based Bitnet Technologies. The number of bitcoin-related startups is rising in Japan, despite the failure last year of Tokyo-based Mt. Gox, then the world’s largest bitcoin exchange. They include BitBank Inc and Resu Press Inc., which offer user platforms for retailers and individuals. Bitcoin’s development in Japan has been supported by Prime Minister Shinzo Abe’s Liberal Democratic Party, which last year helped launch the industry’s self-governing body, the Japan Authority of Digital Assets. Still, bitcoin’s use by bigger companies such as Rakuten is important for consumer confidence it bitcoin is to go mainstream, said Yukio Noguchi, an economist who used to be a Ministry of Finance bureaucrat. http://www.wsj.com/articles/BL-JRTB-19290
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hdbuck
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February 23, 2015, 12:52:34 PM |
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Linear scale is useless for drawing lines. lol because log scale is useful.. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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ChartBuddy
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February 23, 2015, 12:59:33 PM |
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oda.krell
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February 23, 2015, 01:03:06 PM |
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Ok, I'm gonna step into this whirlpool and note that the likes of silverfurtune and billyjoeallen have been real intellectual boons to this thread. The trolls have went into hibernation when the bosses have taken hold of the reigns. Primarily, Mr SF ad BJA have made their points and are moving on to their next ones, soon. I just want to say thx to the bosses in due time.
Thanks, Man. Please don't feel the need to defend me against charges of racism, sexism or whatever the crimethink de jour is. Whatever my moral flaws, the reason why I advocate Bicoin is because it is money that doesn't need force or coercion in order to function. Which would y'all rather have as a neighbor, a racist sexist homophobic who believes in the NonAggression Principle or an egalitarian who wants to make everyone equal by sticking guns in their faces? Freedom means you have to put up with some unpleasant people with unpleasant ideas, but you don't have to put up with threats of violence by those who claim to be peaceful while having the State do their dirty work for them. Ideally, I'd have the egalitarian non-aggression principle abiding guy for a neighbor, but your point stands. Confirming what Ramsay said: good to read your stuff in this sea of troll bile. Don't always agree with it, but it's rarely lazy thinking (the worst crime, intellectually speaking).
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