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Author Topic: Why I still h ave faith in bitcoin's value  (Read 3354 times)
dannickherpderp
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June 22, 2011, 07:33:07 PM
 #1

So we just had a pretty bad week.

me in particular.  I finally get real money invested in the system and the largest exchange crashes.  Fun fun, but I digress.

We had the largest exchange hacked, the market flooded, security compromised, prices drop to pennies, intentions of traders questioned, and all manner of horrors in a short period of time.

And yet bitcoins are still trading around 14-15 bucks each.  If bitcoins can survive that with really no total loss of value, then they're hardier than many people have given them credit for.

Long live the bitcoin!
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Desu
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June 22, 2011, 07:34:55 PM
 #2

+1
Bitcoins are like a religon,
They always have there little bumps.

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June 22, 2011, 07:35:36 PM
 #3

And yet bitcoins are still trading around 14-15 bucks each. 

Volume?
dannickherpderp
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June 22, 2011, 07:45:53 PM
 #4

And yet bitcoins are still trading around 14-15 bucks each. 

Volume?

And yet bitcoins are still trading around 14-15 bucks each.   Grin
Gabi
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June 22, 2011, 07:48:04 PM
 #5

Volume? Where are we going we don't need volume!
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June 22, 2011, 07:48:18 PM
 #6

+1
Bitcoins are like a religon,
They always have there little bumps.
Satoshi will reveal himself as the second coming of Christ in 2012.

1NwGKiLcAngD1KiCCivxT6EDJmyXMGqM9q

Ask not what Bitcoin can do for you - ask what you can do for Bitcoin.
dannickherpderp
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June 22, 2011, 09:43:51 PM
 #7

+1
Bitcoins are like a religon,
They always have there little bumps.
Satoshi will reveal himself as the second coming of Christ in 2012.

And satoshi pulls off his mask and it's THE REANIMATED CORPSE OF JOHN MAYNARD KEYNES OH GOD WE WERE SO FOOLISH NOOOOOOO
Litt
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June 22, 2011, 09:48:17 PM
 #8

Bitcoins are in fact like religion because the faith of the people who believe in it give bitcoin it's value. In that aspect bitcoin is very much like a religion. Only difference is that this religion will actually save lives when the world's fiat currencies start collapsing whereas others will tell them to pray for a change.
dannickherpderp
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June 22, 2011, 09:54:55 PM
 #9

Bitcoins are in fact like religion because the faith of the people who believe in it give bitcoin it's value. In that aspect bitcoin is very much like a religion. Only difference is that this religion will actually save lives when the world's fiat currencies start collapsing whereas others will tell them to pray for a change.

edited:  Derp.  Misread you.
CurbsideProphet
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June 22, 2011, 10:07:55 PM
 #10

Only difference is that this religion will actually save lives when the world's fiat currencies start collapsing whereas others will tell them to pray for a change.

How will bitcoins save you?  So let me get this straight, the fiat currencies collapse essentially causing mass panic and destruction but 1) you have electricity, 2) a working internet and 3) someone willing to exchange tangible goods for survival for your bits of code.

Hookay.  Goodluck with that.   

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Mark Oates
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June 22, 2011, 10:25:47 PM
 #11

Forcing everyone to invest in their own sustainable energy, and thus be more secure?

I think that's a fantastic idea.
Trader Steve
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June 22, 2011, 10:44:13 PM
 #12

Bitcoins are in fact like religion because the faith of the people who believe in it give bitcoin it's value. In that aspect bitcoin is very much like a religion. Only difference is that this religion will actually save lives when the world's fiat currencies start collapsing whereas others will tell them to pray for a change.

Yes, and here are additional reasons:

Bitcoin: A New Commodity Created To Serve Market Demand
http://economicsandliberty.wordpress.com/2011/06/22/bitcoin-a-new-commodity-created-to-serve-market-demand/
TraderTimm
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June 23, 2011, 02:27:03 AM
 #13

I find it funny too that the last trade is 15.40 on Tradehill, yet everyone thinks it is going to zero...

Oh, about volume, since it isn't the same volume as Mt.Gox, I guess it would be easier to crush to zero, but jeeze, just doesn't seem to be happening.

It's okay, we'll wait while all the CRASH CRASH CRASH fanatics readjust their theories... comon boys, if it is so easy - why am I not seeing it trade at 1? 0.50? 0.01?


fortitudinem multis - catenum regit omnia
imperi
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June 23, 2011, 02:28:50 AM
 #14

I find it funny too that the last trade is 15.40 on Tradehill, yet everyone thinks it is going to zero...

Oh, about volume, since it isn't the same volume as Mt.Gox, I guess it would be easier to crush to zero, but jeeze, just doesn't seem to be happening.

It's okay, we'll wait while all the CRASH CRASH CRASH fanatics readjust their theories... comon boys, if it is so easy - why am I not seeing it trade at 1? 0.50? 0.01?



+1
TiagoTiago
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June 23, 2011, 02:43:37 AM
 #15

It would be fun to read what they say about these events in the history books (or whatever they use by then) of some hundred years in the future

(I dont always get new reply notifications, pls send a pm when you think it has happened)

Wanna gimme some BTC for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX Smiley

The more you believe in Bitcoin, and the more you show you do to other people, the faster the real value will soar!

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Hook^
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June 23, 2011, 02:46:58 AM
 #16

+1
Bitcoins are like a religon,
They always have there little bumps.
You're cute Desu, but what is that plastic thingy you are wearing?
CurbsideProphet
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June 23, 2011, 02:49:38 AM
 #17

I find it funny too that the last trade is 15.40 on Tradehill, yet everyone thinks it is going to zero...

Oh, about volume, since it isn't the same volume as Mt.Gox, I guess it would be easier to crush to zero, but jeeze, just doesn't seem to be happening.

It's okay, we'll wait while all the CRASH CRASH CRASH fanatics readjust their theories... comon boys, if it is so easy - why am I not seeing it trade at 1? 0.50? 0.01?

I don't think BTC's will go to zero over this but you can't really make an assessment while the largest exchange is in a freeze.  You have thousands of users with cash and BTC's that they have no access to.  You can't trade what you don't have.

1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
TiagoTiago
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June 23, 2011, 02:50:20 AM
 #18

...
They always have there little bumps.
That's what she said ¬.¬

(I dont always get new reply notifications, pls send a pm when you think it has happened)

Wanna gimme some BTC for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX Smiley

The more you believe in Bitcoin, and the more you show you do to other people, the faster the real value will soar!

Do you like mmmBananas?!
bitprotection
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June 23, 2011, 02:51:26 AM
 #19

So we just had a pretty bad week.

me in particular.  I finally get real money invested in the system and the largest exchange crashes.  Fun fun, but I digress.

We had the largest exchange hacked, the market flooded, security compromised, prices drop to pennies, intentions of traders questioned, and all manner of horrors in a short period of time.

And yet bitcoins are still trading around 14-15 bucks each.  If bitcoins can survive that with really no total loss of value, then they're hardier than many people have given them credit for.

Long live the bitcoin!

+1 long live the bitcoin!

Working on protecting the community!
Bit_Happy
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June 23, 2011, 02:53:50 AM
 #20

I find it funny too that the last trade is 15.40 on Tradehill, yet everyone thinks it is going to zero...

Oh, about volume, since it isn't the same volume as Mt.Gox, I guess it would be easier to crush to zero, but jeeze, just doesn't seem to be happening.

It's okay, we'll wait while all the CRASH CRASH CRASH fanatics readjust their theories... comon boys, if it is so easy - why am I not seeing it trade at 1? 0.50? 0.01?



CRASH fanatic == Not me.
Realistically, we are in a long-term bull market and short to medium-term bear market. There are over 7,000 new coins produced every day, plus the vast majority of ones for sale are trapped at MtGox. IMO, $5 or $6 to $10 is not only realistic, but expected, short-term.

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