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Question: Are You a Bitcoin Believer?
Yes, Bitcoin is the future - 57 (80.3%)
No, I'm just here while it's hot - 12 (16.9%)
It's a Ponzi scheme! - 2 (2.8%)
Total Voters: 71

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Author Topic: Bitcoin: Believer, or not  (Read 2178 times)
benjamindees
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April 25, 2013, 12:51:15 AM
 #21

I'm a believer, but the number of people actively trying to turn Bitcoin into a ponzi scheme is starting to wear on me.

How are they doing that??
I think he means the pump-and-dump attempts.

Specifically, I mean those trying to push up the price via regulation.  It can only end badly.

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ArbitrageX
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April 25, 2013, 01:05:21 AM
 #22

I see the value going to $0.00.

XRP will overtake.  Is this not obvious?  Do people really like waiting 10 minutes for a transaction?
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April 25, 2013, 01:12:46 AM
 #23

Specifically, I mean those trying to push up the price via regulation.  It can only end badly.

Trying to push the price up via regulation?

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Rassah
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April 25, 2013, 02:06:18 AM
 #24

I see the value going to $0.00.

XRP will overtake.  Is this not obvious?  Do people really like waiting 10 minutes for a transaction?

You do know XRP is not actually money, is not suppose to be worth anything, and is just placeholders for IOUs, right? I hope you didn't sell all your bitcoins to "invest" in XRP  Undecided

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April 25, 2013, 02:18:07 AM
 #25

I see the value going to $0.00.

XRP will overtake.  Is this not obvious?  Do people really like waiting 10 minutes for a transaction?

You do know XRP is not actually money, is not suppose to be worth anything, and is just placeholders for IOUs, right? I hope you didn't sell all your bitcoins to "invest" in XRP  Undecided
In other words, it's just like FRNs?

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Rassah
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April 25, 2013, 02:24:41 AM
 #26

I see the value going to $0.00.

XRP will overtake.  Is this not obvious?  Do people really like waiting 10 minutes for a transaction?

You do know XRP is not actually money, is not suppose to be worth anything, and is just placeholders for IOUs, right? I hope you didn't sell all your bitcoins to "invest" in XRP  Undecided
In other words, it's just like FRNs?

FRN is supposed to be money that's supposed to hold value at least. XRP can be made worthless at any time due to the company behind Ripple holding billions of them and just giving them out for free (I got 20,000 just yesterday)

benjamindees
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April 25, 2013, 05:12:53 AM
 #27

Specifically, I mean those trying to push up the price via regulation.  It can only end badly.

Trying to push the price up via regulation?

Yes.  I'm surprised you don't recognize this.  The US currency (the global reserve currency) is a centralized, money-printing extortion racket.  Bitcoin only has value in terms of this racket if it can be controlled, and if it can be used to control others.

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.

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myrkul
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April 25, 2013, 05:18:25 AM
 #28

Specifically, I mean those trying to push up the price via regulation.  It can only end badly.

Trying to push the price up via regulation?

Yes.  I'm surprised you don't recognize this.  The US currency (the global reserve currency) is a centralized, money-printing extortion racket.  Bitcoin only has value in terms of this racket if it can be controlled, and if it can be used to control others.

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.
Ah. Well, I've not really followed the bitcoin foundation much. I tend to ignore anyone who presumes to think he can tell me what I can and cannot do with my property.

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April 25, 2013, 02:51:17 PM
 #29

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.


Controlling it how? Are they running a mining pool?

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April 29, 2013, 03:06:23 AM
 #30

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.


Controlling it how? Are they running a mining pool?
No.  They are the Illuminati.

Set against us.

The Inebriati.
Snowfire
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April 30, 2013, 01:37:29 AM
 #31

Do the Inebriati drink single malt, or cheap rotgut?

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Spendulus
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April 30, 2013, 11:48:25 AM
 #32

Do the Inebriati drink single malt, or cheap rotgut?


Many feel the calling, but few are chosen.

After Initiation into the Inner Sanctum, when one feels the spirits come over him, then forth they proceed with only the finest VSOP Cognacs.

Thus shall ye be guided by the Spirits.
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May 02, 2013, 03:24:08 PM
 #33

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.
Controlling it how? Are they running a mining pool?

Unless BTC exchanges remove any fiat money from trades, controlling (manipulating) BTC prices will be so easy for the big (bad) guys. So, they don't need a mining pool at all.

US options trader and ancap
Rassah
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May 02, 2013, 04:01:42 PM
 #34

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.
Controlling it how? Are they running a mining pool?

Unless BTC exchanges remove any fiat money from trades, controlling (manipulating) BTC prices will be so easy for the big (bad) guys. So, they don't need a mining pool at all.

By "controlling" I guess you mean "buying and selling on the open market?" That method of manipulating prices doesn't really work, since it results in selling your stash to others on the market, who will just take your thrown away money and keep it.

myrkul
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May 02, 2013, 04:08:21 PM
 #35

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.
Controlling it how? Are they running a mining pool?

Unless BTC exchanges remove any fiat money from trades, controlling (manipulating) BTC prices will be so easy for the big (bad) guys. So, they don't need a mining pool at all.

By "controlling" I guess you mean "buying and selling on the open market?" That method of manipulating prices doesn't really work, since it results in selling your stash to others on the market, who will just take your thrown away money and keep it.
I suppose option 2 for "controlling" a market valued in fiat is to inflate and deflate your currency, so as to manipulate the price, as valued in that fiat. Seems a bit excessive, though.

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Walter Rothbard
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May 02, 2013, 06:00:25 PM
 #36

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.
Controlling it how? Are they running a mining pool?

Unless BTC exchanges remove any fiat money from trades, controlling (manipulating) BTC prices will be so easy for the big (bad) guys. So, they don't need a mining pool at all.

By "controlling" I guess you mean "buying and selling on the open market?" That method of manipulating prices doesn't really work, since it results in selling your stash to others on the market, who will just take your thrown away money and keep it.

Shh!  You're interfering with our ability to blame boogeymen!

Rassah
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May 02, 2013, 08:53:14 PM
 #37

Shh!  You're interfering with our ability to blame boogeymen!


But... but... but... market efficiency  Cry

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May 04, 2013, 07:23:50 PM
 #38

Shh!  You're interfering with our ability to blame boogeymen!


But... but... but... market efficiency  Cry

Is why Inebriati always win.
Zaih
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May 05, 2013, 01:18:05 AM
 #39

Cryptocurrencies are the future!

I'd be more than happy with Bitcoin being the ONE though. But that seems some what unlikely.
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May 05, 2013, 02:37:23 AM
 #40

Where's the 'I believe in Bitcoin but I think it's probably going to be superseded by something better' option?
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