Davyd05
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February 26, 2014, 07:45:41 PM |
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happy to say I'm spam free < perhaps I should check the parents
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KFR
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February 26, 2014, 07:54:03 PM |
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...and me using bitcoin cannot possibly tell me anything relevant to the sources of my skepticism.
So wrong Jorge. With the best will in the world you should really know better. Would you expect the same from a student? Seriously. Download Bitcoin-QT. Sign up to an exchange. Buy yourself 0.1 BTC and spend some of it on junk. To continue to plough this much time and effort into researching cryptocurrencies without having gone through that simple step seems daft.
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kkaspar
Full Member
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Activity: 140
Merit: 100
banned but not broken
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February 26, 2014, 07:56:24 PM |
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People speculate on the BTC/USD pair (or BTC/crypto) just like they speculate on EUR/USD for instance. They all do it to make more money, because that's what speculators do. Now Bitcoin is a very young currency and still in its volatile growth phase, so it makes sense that more people are holding on to their coins for a longer period of time compared to Euros or Dollars for instance. This is going to change eventually as merchant adoption and the userbase grows. It won't be as easy to move the price around as much when BTC is a trillion dollar market.
Ok, I'll try to explain with more clarity. Maybe there is a language barrier that confuses you. Currencies at forex = attractive for tradingBTC = Attractive for investmentFiat currencies are unattractive as investments because they are inflationary and there is a good logic behind it. People are not making money on forex by investing into a currency, but they are making money by trading currencies with one another and make profit by value fluctuation. People at forex are not investing, but they are trading. I tried to be as clear as possible.
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mmitech
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Activity: 1148
Merit: 1001
things you own end up owning you
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February 26, 2014, 07:57:15 PM |
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Gosh, like we need that now, after all this shit....
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JayJuanGee
Legendary
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Activity: 3780
Merit: 10533
Self-Custody is a right. Say no to"Non-custodial"
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February 26, 2014, 07:57:44 PM |
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I think that these are the kinds of shenanigans that could keep BTC prices low and BTC in a state of slower growth and volatility... ... I think some lawmakers believe that they need to do something about BTC while it is still fairly small... ... but they do NOT realize that the cannot stop BTC ... but only to drive it underground.... Once we get past this stage and some of these shenanigans... then we are going to be looking at 10K+ BTCs
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kurious
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Activity: 2590
Merit: 1643
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February 26, 2014, 07:58:14 PM |
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Full of holes, but still depressingly scary. Wonder who funds his campaigns - they certainly don't know enough about bitcoin to write a letter for him.
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podyx
Legendary
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Activity: 2338
Merit: 1035
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February 26, 2014, 07:58:43 PM |
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fuck this guy, he's just mad he didn't buy in early tragic
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podyx
Legendary
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Activity: 2338
Merit: 1035
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February 26, 2014, 08:00:00 PM |
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is that really Mark Karpeles??
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kkaspar
Full Member
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Activity: 140
Merit: 100
banned but not broken
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February 26, 2014, 08:01:53 PM |
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I wouldn't be surprised that the senator actually invested in bitcoin and held his money at gox. There will be a lot of hate towards bitcoin from people who got scammed by gox. And they won't care that mtgox is not bitcoin. They will tell that they were invited to buy bitcoins with promises of great wealth. And they know that they did everything right, since they googled bitcoin, found the main trustworthy hub to be bitcoin.org, that directed them straight to gox. People here underestimate how much will bitcoin be blamed if people will lose their money.
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JayJuanGee
Legendary
Offline
Activity: 3780
Merit: 10533
Self-Custody is a right. Say no to"Non-custodial"
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February 26, 2014, 08:02:29 PM |
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...and me using bitcoin cannot possibly tell me anything relevant to the sources of my skepticism.
So wrong Jorge. With the best will in the world you should really know better. Would you expect the same from a student? Seriously. Download Bitcoin-QT. Sign up to an exchange. Buy yourself 0.1 BTC and spend some of it on junk. To continue to plough this much time and effort into researching cryptocurrencies without having gone through that simple step seems daft. WOW... I agree with this!!! I cannot see how anyone who is spending lots of time with BTC should at least have a little bit to play around with in order to see how it really works... to open up a few accounts... too... People speculate on the BTC/USD pair (or BTC/crypto) just like they speculate on EUR/USD for instance. They all do it to make more money, because that's what speculators do. Now Bitcoin is a very young currency and still in its volatile growth phase, so it makes sense that more people are holding on to their coins for a longer period of time compared to Euros or Dollars for instance. This is going to change eventually as merchant adoption and the userbase grows. It won't be as easy to move the price around as much when BTC is a trillion dollar market.
Ok, I'll try to explain with more clarity. Maybe there is a language barrier that confuses you. Currencies at forex = attractive for tradingBTC = Attractive for investmentFiat currencies are unattractive as investments because they are inflationary and there is a good logic behind it. People are not making money on forex by investing into a currency, but they are making money by trading currencies with one another and make profit by value fluctuation. People at forex are not investing, but they are trading. I tried to be as clear as possible. GREAT explanation...
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ChartBuddy
Legendary
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Activity: 2240
Merit: 1780
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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February 26, 2014, 08:02:48 PM |
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threecats
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February 26, 2014, 08:03:12 PM |
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Last paragraph, he says "weary" instead of "wary". So the article is either FUD, or both a US Senator's staff plus the magazine staff cannot proof a one page letter to the federal government. Don't know which makes me more weary and wary both.
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jojo69
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Activity: 3234
Merit: 4439
diamond-handed zealot
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February 26, 2014, 08:03:26 PM |
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lol, let's ban buttsex and downloading torrents while we're at it
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bassclef
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February 26, 2014, 08:04:54 PM |
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Sounds more like "when they have never sung at the opera." I do exactly that for a living. Learning an opera would be akin to learning cryptography or how to code. Seriously, how many times do I have to write that I believe that cryptocoins can be great payment methods, and wish them all the success at that? My skepticism has nothing to do with those aspects of cryptocoins, and me using bitcoin cannot possibly tell me anything relevant to the sources of my skepticism. Agree to disagree
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bitcodo
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February 26, 2014, 08:05:00 PM |
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LOL is that really Mark Karpeles?? His cat name is Tibane. Tibane must be his passwords too. Lets see if I can log to mtgox admin panel...
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fonzie
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February 26, 2014, 08:05:19 PM |
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meanig
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February 26, 2014, 08:05:47 PM |
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I urge the regulators to work together, act quickly, and prohibit this dangerous currency from harming hard-working Americans.
Hahaha what a tool. Any politician that uses the "hard working" sound-bite is a moron.
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podyx
Legendary
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Activity: 2338
Merit: 1035
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February 26, 2014, 08:05:56 PM |
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"and prohibit this dangerous currency from harming hard-working Americans." 'im doing it for the people cliche' god, couldn't this guy come up with something more original?
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