shmadz
Legendary
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Activity: 1512
Merit: 1000
@theshmadz
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May 25, 2014, 12:30:58 PM |
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Can't take money out of our pockets without creating volume.
SecondMarket is doing just that. They earn money from keeping bitcoins locked up. Can't create volume without price appreciating accordingly.
Can't have price appreciating without us early parasites adopters becoming rich. Filthy rich! To da moon filthy rich!
If old coins get dumped on the market, volume will probably go up, at least for a while, while price goes down. We saw that in every past crash. Exchanges will make more money during price crashes, than when the price is stable. BitPay will make money even if the BTC price falls, as long as there are people buying with bitcoin. SecondMarket's BIT could make a lot of money with falling BTC price, if they didn't actually buy the coins when clients invest in them, but only when they liquidate. I don't know the exact terms of their contract (they are revealed only to investors) and whether they could be prosecuted for failing to honor it. Did you buy a coin yet, old man?  And ruin my trading record? Not likely soon... Hey prof, I know you got your own thing going on, but I think that if you wanted to be serious about investigating this bitcoin thing then you should at least try it out. You could simply make a public address and ask for donations (I'm sure you'd probably get quite a few) by having a public address, everyone who donates to your "research project" would be able to see exactly what you decide to spend the bitcoin on. (As long as you spend the bitcoin donations on other public addresses.) I suspect that many businesses will start to use public addresses in order to allow charities to prove where they are spending. These businesses that accept bitcoin in this way would be well served to give a discount to the charity and also take advantage of every opportunity to remind consumers of their charitable actions. Or even corporations. Some competitor to whole foods will crop up and have provably organic food, bought from organic farms that accept bitcoin. It's late and I'm rambling again, but having a provably accurate open ledger of account brings up so many possibilities. Hoping for a brighter future. |
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"Governments are good at cutting off the heads of a centrally
controlled
networks like Napster, but pure P2P networks like Gnutella and Tor seem
to be holding their own." -- Satoshi
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Miz4r
Legendary
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Activity: 1246
Merit: 1000
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May 25, 2014, 12:31:41 PM |
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Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.
Learn bitcoin. The train IS going to the moon ($5000-$6000 in this case most likely). This is what bitcoin does. The deep correction will be in August, down to a "low" of $2000 at least by December. The moment you think you know what Bitcoin does is the moment Bitcoin does something completely different. I can assure you what you say will happen will not happen. What will happen I do not know either, but I am prepared for everything.  |
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Mythul
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May 25, 2014, 12:48:59 PM |
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Its so nice to be in a bull market again. I wonder what could cause the next crash ? Although I think we might never see 400s since it took almost the perfect storm to get the Bitcoin price to that level. The chance of a similar storm is not that big anymore...
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CoinRocka
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May 25, 2014, 12:50:22 PM |
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Cant go up forever!
Someday we'll reach the vertical of the adoption curve and you'll see that we seemingly CAN go up forever. It will be the bubble to end all bubbles. What event will trigger the "vertical" climb? I'm guessing a horrible market crash and the resulting run on the banks. I envision very long lines at the Bitcoin ATM akin to the gas lines back in the late 70's. |
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JorgeStolfi
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May 25, 2014, 12:51:20 PM |
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Hey prof, I know you got your own thing going on, but I think that if you wanted to be serious about investigating this bitcoin thing then you should at least try it out. You could simply make a public address and ask for donations (I'm sure you'd probably get quite a few)
by having a public address, everyone who donates to your "research project" would be able to see exactly what you decide to spend the bitcoin on. (As long as you spend the bitcoin donations on other public addresses.)
Dear @shmadz, thanks for the offer and the suggestion, but I will rather pass for now. All the best. |
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CoinRocka
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May 25, 2014, 12:53:03 PM |
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Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.
Learn bitcoin. The train IS going to the moon ($5000-$6000 in this case most likely). This is what bitcoin does. The deep correction will be in August, down to a "low" of $2000 at least by December. The moment you think you know what Bitcoin does is the moment Bitcoin does something completely different. I can assure you what you say will happen will not happen. What will happen I do not know either, but I am prepared for everything. Agreed. A single piece of news creates trends. We're early in this thing. |
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magicmexican
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May 25, 2014, 12:54:23 PM |
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Is it time for China to ban bitcoin again or not yet?
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dreamspark
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May 25, 2014, 12:56:48 PM |
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Is it time for China to ban bitcoin again or not yet?
Probably, the drops from these 'news' gets smaller and smaller, I think even some China fud wouldn't see us below $490 ish for long. |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 25, 2014, 01:00:37 PM |
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oda.krell
Legendary
Offline
Activity: 1470
Merit: 1007
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May 25, 2014, 01:01:18 PM |
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Hey prof, I know you got your own thing going on, but I think that if you wanted to be serious about investigating this bitcoin thing then you should at least try it out. You could simply make a public address and ask for donations (I'm sure you'd probably get quite a few)
by having a public address, everyone who donates to your "research project" would be able to see exactly what you decide to spend the bitcoin on. (As long as you spend the bitcoin donations on other public addresses.)
Dear @shmadz, thanks for the offer and the suggestion, but I will rather pass for now. All the best. Okay, so ignore the part where he suggests you get a public address. Comment on the part where he makes a compelling argument why, all speculative/regulatory/technical issues aside, having the possibility for the first time in human history to work with such a thing as a distributed, tamper proof, public ledger, is kinda a big deal :) |
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JorgeStolfi
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May 25, 2014, 01:02:32 PM |
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Is it time for China to ban bitcoin again or not yet?
Who knows? These well-separated buying spurts smell like insider trading to me. Some Chinese traders got news that made them want to buy well above market. Others see the price rising and just follow along. Still others are diffident and take time to raise their bids. |
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dreamspark
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May 25, 2014, 01:04:14 PM |
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Is it time for China to ban bitcoin again or not yet?
Who knows? These well-separated buying spurts smell like insider trading to me. Some Chinese traders got news that made them want to buy well above market. Others see the price rising and just follow along. Still others are diffident and take time to raise their bids. lol I'm going to start storing some of these. Could be gold. Could be right but I'm going with gold. |
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JorgeStolfi
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May 25, 2014, 01:13:10 PM |
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I'm going to start storing some of these. Could be gold. Could be right but I'm going with gold.
Well, they are already stored here for posterity. And signed with my real name even. |
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BitchicksHusband
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May 25, 2014, 01:13:19 PM |
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Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.
Learn bitcoin. The train IS going to the moon ($5000-$6000 in this case most likely). ... Trains don't go to the moon. No tracks, weird gravity, other stuff. I'm super serious.  Where we're going, we don't need tracks.  |
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BitchicksHusband
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May 25, 2014, 01:14:36 PM |
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Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.
Learn bitcoin. The train IS going to the moon ($5000-$6000 in this case most likely). This is what bitcoin does. The deep correction will be in August, down to a "low" of $2000 at least by December. Since this IS a fact according to you can i assume you took a huge loan, sold your house, your car, really anything you could to put this money into Bitcoin. Considering this is a fact you'd be crazy not to. Right? Or did you mean to say it's a possibility? You know, I don't really have time to discuss this with you right now. I'll talk to you in a couple months after I retire from my one year investment because then I'll have a lot more time on my hands. |
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Ivanhoe
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May 25, 2014, 01:14:47 PM |
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Jorge is just looking for things that confirm his current worldview, instead of challenging it. That's why he fails so hard |
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ag@th0s
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May 25, 2014, 01:16:14 PM |
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Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.
Learn bitcoin. The train IS going to the moon ($5000-$6000 in this case most likely). ... Trains don't go to the moon. No tracks, weird gravity, other stuff. I'm super serious. Okay, attack the metaphor ... Take the train by the horns and block that metaphor!!1 Trains don't have horns! Oh yes they do! http://www.bnsf.com/communities/safety-and-security/train-horn/ |
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dreamspark
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May 25, 2014, 01:16:18 PM |
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I'm going to start storing some of these. Could be gold. Could be right but I'm going with gold.
Well, they are already stored here for posterity. And signed with my real name even. Yeah but its hard to sift through thousands of posts just a small collection with some of the best, could help you if you end up writing a master thesis of how right you were  |
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wachtwoord
Legendary
Offline
Activity: 2324
Merit: 1125
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May 25, 2014, 01:16:46 PM |
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Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.
Learn bitcoin. The train IS going to the moon ($5000-$6000 in this case most likely). ... Trains don't go to the moon. No tracks, weird gravity, other stuff. I'm super serious. Where we're going, we don't need tracks. The choo choo shoe! https://www.youtube.com/watch?v=D9fYdkuoXkc |
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