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Author Topic: Everything looks fine on the logarithmic charts  (Read 5384 times)
terroh8er
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July 05, 2011, 02:50:53 AM
 #41

I hope everyone realizes this debate will never end. And at some point in the future the community will agree to have even more than 8 decimal places. When BTC is extremely valuable even 1 satoshi will be divided to 8 decimal places.

Regarding intrinsic value... it's in the network and software.

This is the dream that many bears, myself included, hope for. But you have to ask yourself, how likely do you think that scenario is?

When I think about the many things that can go wrong, and the fact that maybe not many people will think this idea is as cool as I do, and I pull out my inner pessimist and make him answer the question, I still feel like there is a 1% chance of bitcoins becoming really, really big. Now the real me, thinks there is closer to a 60% chance. But either way, it is still worth an investment.

It depends what you think really big is. Do I think the US government is going to dump the dollar for Bitcoins? No. Do I think it will be accepted at hookah lounges and hip coffee shops? Likely. It depends how well the younger generation realizes it's potential. A rebellious teenager used to egg houses on Halloween. Now they bring down government websites. There's only a certain subset of the population who will ever find Bitcoin appealing, and that group is growing every day. For those involved in the internet "underground", you know that it is booming. A chart can't tell you that. The truth is somewhere in the middle of the doom and gloom crowd and those dreaming that they'll be buying city blocks with their Bitcoins.

Also, put on your armchair psychologist hat for a second. When people hear about things once, they kind of put it in the back of their mind and it sits latent. Think Facebook and Twitter. When they hear about it a second time, they make a connection and sense a pattern. That's when they say, "Hmm.. maybe I should try this." For most people, the incident a few weeks ago was the first time they heard about it. Next time, we should see wider adoption. (For the record, I heard about Bitcoin once about a year ago. Then I heard it again on CNN a few weeks ago. I'm kicking myself.. My watercooled 5850 and Phenom x6 were just collecting dust.)

A great local business model for a college town or something right now would be start accepting Bitcoins. You'd get free word of mouth advertising, grassroots support, and people are eager to spend them. The market will figure it out soon.


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Smalleyster
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July 05, 2011, 02:53:28 AM
 #42

Can't buy anything with gold?

Way back in the day I took $10,000 worth of Krugerands as a down payment on a $25,000 CAD system. both myself and the buyer were very happy with the deal and some 25+ years later we are still friends. That deal was done the day we met.

Feel like investing in a Miner?:
http://bitcointalk.org/index.php?topic=30044.msg377773#msg377773
A soup to nuts newbee system for a secure, portable USB wallet (free instructions):
NoobHowTo: http://bitcointalk.org/index.php?topic=27088.msg341387#msg341387
bitsalame
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July 05, 2011, 02:55:38 AM
 #43

There are three kinds of debates that never ends:

1) Two (or more) knowledgeable people who share two (or more) valid points but in different ideological/theoretical positions.
Although they prefer their own vision, both usually recognize, acknowledge and understand the intellectual capacity and position of their opponent.
The debate is easily identifiable by the proper usage of terminology, sophisticated vocabulary and the higher level of debate.

2) One knowledgeable guy (who really know his stuff) Vs. one ignorant/stubborn/pedantic (who thinks he knows it all, although he barely could pass "TheTopic" 101).
The ignorant one usually thinks he is way ahead of the knowledgeable guy (or that he can even "beat" him through rhetoric and "logic"), and because he remembers better the textbook definitions of the terms. Expect a lot of both formal and informal fallacies from the ignorant person.

3) Two fools arguing each other, when both think they understand a subject after skimming through a dictionary and wikipedia.
Both idiots think that the other guy doesn't know anything. Usually they just repeat or recycle what they've read or heard, and make opinions without any grounds. More like a cockfight of egos, rather than a real intellectual debate. Expect a lot of misspellings and incongruity.

The funny thing is that in all cases the ignorant one is always oblivious of his pathetic ignorance.

speaking of pathetic. dont you have some nobel prize papers to write?

Exhibit number 1: the archetypal ignorant troll makes his appearance. Be aware of these creatures.
Thank you NO_SLAVE for your cooperation, now you can go back to your cage.

PS: I was right and that must be burning you inside.
I have many special tricks prepared for trolls like you.
myrkul
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July 05, 2011, 02:59:37 AM
 #44

There are three kinds of debates that never ends:

1) Two (or more) knowledgeable people who share two (or more) valid points but in different ideological/theoretical positions.
Although they prefer their own vision, both usually recognize, acknowledge and understand the intellectual capacity and position of their opponent.
The debate is easily identifiable by the proper usage of terminology, sophisticated vocabulary and the higher level of debate.

2) One knowledgeable guy (who really know his stuff) Vs. one ignorant/stubborn/pedantic (who thinks he knows it all, although he barely could pass "TheTopic" 101).
The ignorant one usually thinks he is way ahead of the knowledgeable guy (or that he can even "beat" him through rhetoric and "logic"), and because he remembers better the textbook definitions of the terms. Expect a lot of both formal and informal fallacies from the ignorant person.

3) Two fools arguing each other, when both think they understand a subject after skimming through a dictionary and wikipedia.
Both idiots think that the other guy doesn't know anything. Usually they just repeat or recycle what they've read or heard, and make opinions without any grounds. More like a cockfight of egos, rather than a real intellectual debate. Expect a lot of misspellings and incongruity.

The funny thing is that in all cases the ignorant one is always oblivious of his pathetic ignorance.

speaking of pathetic. dont you have some nobel prize papers to write?

Exhibit number 1: the archetypal ignorant troll makes his appearance. Be aware of these creatures.
Thank you NO_SLAVE for your cooperation, now you can go back to your cage.

PS: I was right and that must be burning you inside.
I have many special tricks prepared for trolls like you.

And here, Ladies and gentlemen, is a fine example of #3. Take note of the use of ad hominem attacks on both sides of the argument.

BTC1MYRkuLv4XPBa6bGnYAronz55grPAGcxja
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muyoso
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July 05, 2011, 03:03:31 AM
 #45

To those who think bitcoins are going to be worth a LOT more in the future and that business will accept them, I have to ask why?  Why would businesses accept bitcoins and all of the extra hassle that goes with them?  They aren't more convenient for the consumer, in fact they are much less convenient.  The only real positive is anonymity, and you aren't anonymous when you are face to face with a store clerk.  Why do you think the value of a bitcoin is going to skyrocket?  There are people with tens of thousands of bitcoins, if not hundreds of thousands, who will keep the price down for year and years to come selling them off.  There may be at least a couple people who have a gigantic amount of bitcoins who wait until the price does rise some, and then attempt to cash out to maximize their profit, and they will crash the market.  Why do you think that a currency/commodity that has such an overwhelming majority controlled by such a small minority will be skyrocketing in value?

I drink it up!
DamienBlack
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July 05, 2011, 03:05:54 AM
 #46

To those who think bitcoins are going to be worth a LOT more in the future and that business will accept them, I have to ask why?  Why would businesses accept bitcoins and all of the extra hassle that goes with them?  They aren't more convenient for the consumer, in fact they are much less convenient.  The only real positive is anonymity, and you aren't anonymous when you are face to face with a store clerk.  Why do you think the value of a bitcoin is going to skyrocket?  There are people with tens of thousands of bitcoins, if not hundreds of thousands, who will keep the price down for year and years to come selling them off.  There may be at least a couple people who have a gigantic amount of bitcoins who wait until the price does rise some, and then attempt to cash out to maximize their profit, and they will crash the market.  Why do you think that a currency/commodity that has such an overwhelming majority controlled by such a small minority will be skyrocketing in value?

Luckily, I just posted a long piece about just that. Have a look:

Bitcoin _is_ more convenient
http://forum.bitcoin.org/index.php?topic=26103.0

I trade bitcoin options at https://bitoption.org/ ... Join me.
I play poker at https://betco.in/ ... Join me.
Support the bitcoin economy, what do you do?
Tips: 1NfXhiTFEdKQTdLy49s6DYAP1K7MeFWyao
NO_SLAVE
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July 05, 2011, 03:09:17 AM
 #47

There are three kinds of debates that never ends:

1) Two (or more) knowledgeable people who share two (or more) valid points but in different ideological/theoretical positions.
Although they prefer their own vision, both usually recognize, acknowledge and understand the intellectual capacity and position of their opponent.
The debate is easily identifiable by the proper usage of terminology, sophisticated vocabulary and the higher level of debate.

2) One knowledgeable guy (who really know his stuff) Vs. one ignorant/stubborn/pedantic (who thinks he knows it all, although he barely could pass "TheTopic" 101).
The ignorant one usually thinks he is way ahead of the knowledgeable guy (or that he can even "beat" him through rhetoric and "logic"), and because he remembers better the textbook definitions of the terms. Expect a lot of both formal and informal fallacies from the ignorant person.

3) Two fools arguing each other, when both think they understand a subject after skimming through a dictionary and wikipedia.
Both idiots think that the other guy doesn't know anything. Usually they just repeat or recycle what they've read or heard, and make opinions without any grounds. More like a cockfight of egos, rather than a real intellectual debate. Expect a lot of misspellings and incongruity.

The funny thing is that in all cases the ignorant one is always oblivious of his pathetic ignorance.

speaking of pathetic. dont you have some nobel prize papers to write?

Exhibit number 1: the archetypal ignorant troll makes his appearance. Be aware of these creatures.
Thank you NO_SLAVE for your cooperation, now you can go back to your cage.

PS: I was right and that must be burning you inside.
I have many special tricks prepared for trolls like you.

And here, Ladies and gentlemen, is a fine example of #3. Take note of the use of ad hominem attacks on both sides of the argument.


lol, too easy.  a pseudo-academic twit and a bunch of fantasy zillionares late to the party.  Cheesy.
bitsalame
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July 05, 2011, 03:43:17 AM
 #48

There are three kinds of debates that never ends:

1) Two (or more) knowledgeable people who share two (or more) valid points but in different ideological/theoretical positions.
Although they prefer their own vision, both usually recognize, acknowledge and understand the intellectual capacity and position of their opponent.
The debate is easily identifiable by the proper usage of terminology, sophisticated vocabulary and the higher level of debate.

2) One knowledgeable guy (who really know his stuff) Vs. one ignorant/stubborn/pedantic (who thinks he knows it all, although he barely could pass "TheTopic" 101).
The ignorant one usually thinks he is way ahead of the knowledgeable guy (or that he can even "beat" him through rhetoric and "logic"), and because he remembers better the textbook definitions of the terms. Expect a lot of both formal and informal fallacies from the ignorant person.

3) Two fools arguing each other, when both think they understand a subject after skimming through a dictionary and wikipedia.
Both idiots think that the other guy doesn't know anything. Usually they just repeat or recycle what they've read or heard, and make opinions without any grounds. More like a cockfight of egos, rather than a real intellectual debate. Expect a lot of misspellings and incongruity.

The funny thing is that in all cases the ignorant one is always oblivious of his pathetic ignorance.

speaking of pathetic. dont you have some nobel prize papers to write?

Exhibit number 1: the archetypal ignorant troll makes his appearance. Be aware of these creatures.
Thank you NO_SLAVE for your cooperation, now you can go back to your cage.

PS: I was right and that must be burning you inside.
I have many special tricks prepared for trolls like you.

And here, Ladies and gentlemen, is a fine example of #3. Take note of the use of ad hominem attacks on both sides of the argument.

haha, actually it doesn't qualify... we are not discussing about the subject.
He is just trolling, and I gracefully accept the challenge of the lesser being Wink

PS: Btw, this is the last post related to NO_SLAVE, I don't want this thread to go off-topic.
NO_SLAVE
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July 05, 2011, 03:51:46 AM
 #49

There are three kinds of debates that never ends:

1) Two (or more) knowledgeable people who share two (or more) valid points but in different ideological/theoretical positions.
Although they prefer their own vision, both usually recognize, acknowledge and understand the intellectual capacity and position of their opponent.
The debate is easily identifiable by the proper usage of terminology, sophisticated vocabulary and the higher level of debate.

2) One knowledgeable guy (who really know his stuff) Vs. one ignorant/stubborn/pedantic (who thinks he knows it all, although he barely could pass "TheTopic" 101).
The ignorant one usually thinks he is way ahead of the knowledgeable guy (or that he can even "beat" him through rhetoric and "logic"), and because he remembers better the textbook definitions of the terms. Expect a lot of both formal and informal fallacies from the ignorant person.

3) Two fools arguing each other, when both think they understand a subject after skimming through a dictionary and wikipedia.
Both idiots think that the other guy doesn't know anything. Usually they just repeat or recycle what they've read or heard, and make opinions without any grounds. More like a cockfight of egos, rather than a real intellectual debate. Expect a lot of misspellings and incongruity.

The funny thing is that in all cases the ignorant one is always oblivious of his pathetic ignorance.

speaking of pathetic. dont you have some nobel prize papers to write?

Exhibit number 1: the archetypal ignorant troll makes his appearance. Be aware of these creatures.
Thank you NO_SLAVE for your cooperation, now you can go back to your cage.

PS: I was right and that must be burning you inside.
I have many special tricks prepared for trolls like you.

And here, Ladies and gentlemen, is a fine example of #3. Take note of the use of ad hominem attacks on both sides of the argument.

haha, actually it doesn't qualify... we are not discussing about the subject.
He is just trolling, and I gracefully accept the challenge of the lesser being Wink

PS: Btw, this is the last post related to NO_SLAVE, I don't want this thread to go off-topic.

Im just trolling you, because you are a pseudo academic twit, and pseudo academic twits like yourself will be the first dragged into the street when things "get rolling".
and before you look down upon this poor uneducated "troll", know that I have enough "paper" on my wall to roll you in it and smoke you.  The academy is a scam and and youre its joke.
billyjoeallen
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July 05, 2011, 03:57:21 AM
 #50

To those who think bitcoins are going to be worth a LOT more in the future and that business will accept them, I have to ask why?  Why would businesses accept bitcoins and all of the extra hassle that goes with them?  They aren't more convenient for the consumer, in fact they are much less convenient.  The only real positive is anonymity, and you aren't anonymous when you are face to face with a store clerk.  Why do you think the value of a bitcoin is going to skyrocket?  There are people with tens of thousands of bitcoins, if not hundreds of thousands, who will keep the price down for year and years to come selling them off.  There may be at least a couple people who have a gigantic amount of bitcoins who wait until the price does rise some, and then attempt to cash out to maximize their profit, and they will crash the market.  Why do you think that a currency/commodity that has such an overwhelming majority controlled by such a small minority will be skyrocketing in value?

Because trading your goods and services is the easiest way to acquire bitcoins.

insert coin here:
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