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Author Topic: Bitcoin Shrinking - The Long View  (Read 17743 times)
Synaptic
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July 15, 2011, 06:05:27 PM
 #61

Again, thank you everyone for your very well reasoned and informative posts.

In classic forum.bitcoin.org fashion you have once again displayed the level of intelligence and reasoning ability of bitcoin proponents.

Kudos.
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Piper67
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July 15, 2011, 06:05:46 PM
 #62

And a rapidly growing community means exactly jack shit to such a supposedly AMAZING financial instrument where there NO ECONOMY backing it up.

The Silk Road has thousands of members. Welcome to reality.

Silk Road members should all be thrown in jail and forgotten about along with you for wanting to profit off the gains of the Cartels.

If I have dollar bills, am I profiting off of cartels? Also I was talking about the existence of their business, not personal opinions about drug prohibition and enforcement.

Yes, BillX, and I'm not sure you want to go down the slippery slope of who should be held accountable for who else profiting from what... if you live in the US, UK or pretty much any industrialised nation and reap the rewards thereof, you might be shocked at what you have been profiting from.
Synaptic
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July 15, 2011, 06:06:02 PM
 #63

And a rapidly growing community means exactly jack shit to such a supposedly AMAZING financial instrument where there NO ECONOMY backing it up.

The Silk Road has thousands of members. Welcome to reality.

Silk Road members should all be thrown in jail and forgotten about along with you for wanting to profit off the gains of the Cartels.

Not to hijack this quality thread but...

I mined thousands of coins in 2010 and I should be thrown in jail because now there is demand for the coins?  Who cares where the demand is coming from, if I can exchange them for USD then that is my prerogative.  I don't see that as a reason to throw someone in jail just because criminals to US law want them.

http://en.wikipedia.org/wiki/Racketeer_Influenced_and_Corrupt_Organizations_Act
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July 15, 2011, 06:07:13 PM
 #64

Again, thank you everyone for your very well reasoned and informative posts.

In classic forum.bitcoin.org fashion you have once again displayed the level of intelligence and reasoning ability of bitcoin proponents.

Kudos.

yes because until bitcoin shrink to 0 it wont have a chance to expand in a long term. thank you for very sound and logical POV
imperi
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July 15, 2011, 06:08:07 PM
 #65

Having coins != being part of an organization.
BitcoinHoarder
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July 15, 2011, 06:08:40 PM
 #66


Ok, this is just blatant trolling.  It must be Friday.
Synaptic
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July 15, 2011, 06:08:53 PM
 #67

Having coins != being part of an organization.

What about miners?
BitcoinHoarder
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July 15, 2011, 06:09:28 PM
 #68

What about miners?

What about bananas?
Synaptic
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July 15, 2011, 06:09:45 PM
 #69


Just saying, if we're to say that the primary economic value of bitcoins are illegal transactions...
supersonic3974
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July 15, 2011, 06:10:28 PM
 #70

Here are some headlines for you.

BITCOIN STILL GOING STRONG AFTER HACKING!

ILLEGAL GOODS MARKET STILL ONLINE DESPITE WIDE PUBLICITY!

MAN BUYS CAR WITH BITCOINS!

MAN BUTS HOUSE WITH BITCOINS!

CHARITIES NOW ACCEPTING BITCOIN DONATIONS!

WE THOUGHT IT WOULD DIE! - BITCOINS STILL ALIVE... AND GROWING!
SlaveInDebt
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July 15, 2011, 06:10:39 PM
 #71


No this is blatant trolling on Friday
http://video.id.msn.com/watch/video/worst-song-ever-friday-by-rebecca-black/1j56fr3hl

"A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain." - Mark Twain
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July 15, 2011, 06:11:29 PM
 #72

cliff-notes of OP:

I WANT TO BUY CHEAP BITCOINS! THANK YOU VERY MUCH!

</thread>
supersonic3974
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July 15, 2011, 06:16:07 PM
 #73

Just because you can't think of any potential newsworthy events, that doesn't mean there aren't any.  It just means you have a limited imagination.
Synaptic
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July 15, 2011, 06:18:05 PM
 #74

Here are some headlines for you.

BITCOIN STILL GOING STRONG AFTER HACKING!

ILLEGAL GOODS MARKET STILL ONLINE DESPITE WIDE PUBLICITY!

MAN BUYS CAR WITH BITCOINS!

MAN BUTS HOUSE WITH BITCOINS!

CHARITIES NOW ACCEPTING BITCOIN DONATIONS!

WE THOUGHT IT WOULD DIE! - BITCOINS STILL ALIVE... AND GROWING!

Every single one of those headlines is obviously from the perspective of someone with a direct stake in bitcoins, appealing to an audience who are versed in bitcoins and also hold a direct stake in bitcoins.

Notice that when the EFF and wikileaks started accepting bitcoin there wasn't any attention given to it by the MSM.  The wider public has NO IDEA about these inconsequential happenings, which to bitcoin proponents are news.

No one in the corporate media cares about that dude who is traveling around using only bitcoins.  No-one in the corporate media cares that someone traded a steaming paper bag full of their own shit for a yacht.

Also, I LOVE that with ILLEGAL GOODS MARKET STILL ONLINE DESPITE WIDE PUBLICITY! you don't directly mention bitcoins but you DIRECTLY imply that bitcoins are what keep this market functioning.

You people are wonderful.
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July 15, 2011, 06:18:12 PM
 #75


Just saying, if we're to say that the primary economic value of bitcoins are illegal transactions...

This is pure bullshit and heresy! Got any numbers to back that up or are you just assuming shit from what you read in big media?
Please tell me, who in their right mind will run to SR to get illegal drugs after such huge media exposure?  there will more official agents honey-potting shit for buyers and sellers than there ever was on craiglist posing as escorts and men seeking women.  anyone thinks silkroad is a safe place to get their fix is INSANE
imperi
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July 15, 2011, 06:19:20 PM
 #76


Just saying, if we're to say that the primary economic value of bitcoins are illegal transactions...

This is pure bullshit and heresy! Got any numbers to back that up or are you just assuming shit from what you read in big media?
Please tell me, who in their right mind will run to SR to get illegal drugs after such huge media exposure?  there will more official agents honey-potting shit for buyers and sellers than there ever was on craiglist posing as escorts and men seeking women.  anyone thinks silkroad is a safe place to get their fix is INSANE

What's not safe about it? If you knew anything about you would know it's pretty secure. You only buy from sellers who have high ratings and good feedback. (btw I don't do drugs)
grod
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July 15, 2011, 06:19:51 PM
 #77


And, I assume that was the thread on anand tech about mining, which is why you're here - to get your small slice of the pie.  Well, good luck. Just like all the other "grassroots" newcomers, you might eventually pay off a portion of your gaming rig. Kudos.


Shows how little you know and how much you assume.  *MY* analysis showed BTC overbought.  I started selling as quickly as my rig was producing BTC.  At 24 on 13th of June, 22, 20, 19.5, gox pause,several x 16, 15, 14 and the last ones at 13.88 yesterday, 14th of July.  Another got produced last night, and a couple more are in a NMC<->BTC trading account.

So for me, my investment in video hardware including power was paid for in about 12 days, with the past 18 being pure profit (granted, I didn't make anywhere near as much during the past 18 as the first 6).  Oh, and the hardware was bought for entertainment, not income.  I'm really looking forward to mining not being viable any more so I get to enjoy it guilt-free.  This is the first time my hardware hobby ever paid for itself directly.

If BTC prices (and most likely difficulty) crash hard but I feel BTC itself is still viable you know what I'm going to do?  Gamble several 10s of K on a rack setup and industrial power rates at a co-lo facility.  I may not be an early adopter but there's still plenty of pyramid to be built under me, and there are far riskier investments which don't yield anywhere near as well.
Synaptic
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July 15, 2011, 06:20:16 PM
 #78

Just because you can't think of any potential newsworthy events, that doesn't mean there aren't any.  It just means you have a limited imagination.

And what about your imagination?

I just responded to someone who took a shot and took the piss out of him easily.

C'mon everyone, try it.  Let's all use our imaginations to come up with something that might show up in THE ECONOMIST again, or THE NEW YORK POST, or TIME.  Or really any publication that has a wide audience.
imperi
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July 15, 2011, 06:21:13 PM
 #79

Just because you can't think of any potential newsworthy events, that doesn't mean there aren't any.  It just means you have a limited imagination.

And what about your imagination?

I just responded to someone who took a shot and took the piss out of him easily.

C'mon everyone, try it.  Let's all use our imaginations to come up with something that might show up in THE ECONOMIST again, or THE NEW YORK POST, or TIME.  Or really any publication that has a wide audience.

So if there aren't daily articles in the New York Times about Bitcoin, it's dying?
Synaptic
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July 15, 2011, 06:21:54 PM
 #80


And, I assume that was the thread on anand tech about mining, which is why you're here - to get your small slice of the pie.  Well, good luck. Just like all the other "grassroots" newcomers, you might eventually pay off a portion of your gaming rig. Kudos.


Shows how little you know and how much you assume.  *MY* analysis showed BTC overbought.  I started selling as quickly as my rig was producing BTC.  At 24 on 13th of June, 22, 20, 19.5, gox pause,several x 16, 15, 14 and the last ones at 13.88 yesterday, 14th of July.  Another got produced last night, and a couple more are in a NMC<->BTC trading account.

So for me, my investment in video hardware including power was paid for in about 12 days, with the past 18 being pure profit (granted, I didn't make anywhere near as much during the past 18 as the first 6).  Oh, and the hardware was bought for entertainment, not income.  I'm really looking forward to mining not being viable any more so I get to enjoy it guilt-free.  This is the first time my hardware hobby ever paid for itself directly.

If BTC prices (and most likely difficulty) crash hard but I feel BTC itself is still viable you know what I'm going to do?  Gamble several 10s of K on a rack setup and industrial power rates at a co-lo facility.  I may not be an early adopter but there's still plenty of pyramid to be built under me, and there are far riskier investments which don't yield anywhere near as well.


What?

You just proved my assumption correct...

Jesus fuck, you people.
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