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Author Topic: Bitcoin really is in trouble.  (Read 8693 times)
Barek
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November 05, 2013, 07:34:09 PM
 #41

Don't worry, I know this this thing is a super try-hard troll-inator. It replied, and had nothing to back up it's claims of "moving on to the real solution", just a bit of blatant sidestepping instead.

Oh, I understood you. I was just poking a little fun.  Smiley



[...]

* As gains were derived from Bankster style speculators driving up the price the resultant state fiat was disposed of in socially useful ways.
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RodeoX
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November 05, 2013, 07:55:03 PM
 #42

Bitcoin doesn't care who puts money into it.

it's the economic principles behind the open source protocol that resonates with the majority of ppl worldwide.

+1
Judging by the trading today, I would say a lot of people around the world are proving they believe in the concept. I don't think bitcoin is in trouble. What was discovered is a legitimate theoretical threat, but not the kind of thing that can be done easily (profitably?). It is also something that can be addressed. At least that's what I think, as I do not understand enough about the protocol to really know. Sybil concerns me like a creative 51% attack does. It could happen, but it is highly unlikely to happen or bring down the network.    


The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in ICELAND - https://bitcointalk.org/index.php?topic=1610684
BittBurger
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November 05, 2013, 07:56:34 PM
 #43

very few people seem truly committed to Bitcoin as a currency
You're a silly little man who intentionally doesn't consider all the facts.
You've cherry picked negative aspects and ignored the rest.
That makes everything you just said pointless.  How people do this will always confound me.
You'd think a person speaking would want their words to hold some water.
Yet they speak while knowingly ignoring facts which disprove their words.  Human beings are sad...
The opportunists who are trying to make money off Bitcoin right now are the very organizations which will thrust Bitcoin into the mainstream.
Greed is necessary to get Bitcoin out of the nerd circles and onto the main stage.
Greed doesn't always mean failure.  This is another reason why your viewpoint on reality is lacking.
Once those seeking to make money off mining hardware, merchant services, ATM's, etc have done their work, it will be at that point which those who will appreciate its positive aspects, can be used by billions of humans on earth.
There are over 6 billion people who don't have bank accounts.  And now they will.  For free.
Anyone who poo poo's this is foolish.


Bitcoin's true purpose defined in Satoshi's message on the Genesis Block:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
View it on the Blockchain | Genesis Block Newspaper Copies
revans
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November 05, 2013, 09:03:15 PM
 #44

very few people seem truly committed to Bitcoin as a currency
You're a silly little man who intentionally doesn't consider all the facts.
You've cherry picked negative aspects and ignored the rest.
That makes everything you just said pointless.  How people do this will always confound me.
You'd think a person speaking would want their words to hold some water.
Yet they speak while knowingly ignoring facts which disprove their words.  Human beings are sad...
The opportunists who are trying to make money off Bitcoin right now are the very organizations which will thrust Bitcoin into the mainstream.
Greed is necessary to get Bitcoin out of the nerd circles and onto the main stage.
Greed doesn't always mean failure.  This is another reason why your viewpoint on reality is lacking.
Once those seeking to make money off mining hardware, merchant services, ATM's, etc have done their work, it will be at that point which those who will appreciate its positive aspects, can be used by billions of humans on earth.
There are over 6 billion people who don't have bank accounts.  And now they will.  For free.
Anyone who poo poo's this is foolish.




Many of those same people don't have access to

The Internet
Computers
Electricity
Food
Water
Shelter

Not really seeing what advantages accrue to people in those circumstances by using Bitcoin.
StarfishPrime
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November 05, 2013, 09:18:57 PM
 #45

very few people seem truly committed to Bitcoin as a currency
You're a silly little man who intentionally doesn't consider all the facts.
You've cherry picked negative aspects and ignored the rest.
That makes everything you just said pointless.  How people do this will always confound me.
You'd think a person speaking would want their words to hold some water.
Yet they speak while knowingly ignoring facts which disprove their words.  Human beings are sad...
The opportunists who are trying to make money off Bitcoin right now are the very organizations which will thrust Bitcoin into the mainstream.
Greed is necessary to get Bitcoin out of the nerd circles and onto the main stage.
Greed doesn't always mean failure.  This is another reason why your viewpoint on reality is lacking.
Once those seeking to make money off mining hardware, merchant services, ATM's, etc have done their work, it will be at that point which those who will appreciate its positive aspects, can be used by billions of humans on earth.
There are over 6 billion people who don't have bank accounts.  And now they will.  For free.
Anyone who poo poo's this is foolish.




Many of those same people don't have access to

The Internet
Computers
Electricity
Food
Water
Shelter

Not really seeing what advantages accrue to people in those circumstances by using Bitcoin.

Well you may soon be in for a big surprise. Bitcoin will change everything in exactly those markets.

(and if $250+ is "really in trouble" ... bring on more trouble please)

                         
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                        ¦¦

.
TorCoin.....
¦
¦
¦
¦
  Fully Anonymous TOR-integrated Crypto
               ¦ Windows     ¦ Linux     ¦ GitHub     ¦ macOS
     ¦
     ¦
     ¦
     ¦
.
   ANN THREAD
     ¦
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     ¦
     ¦
[/center]
revans
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November 05, 2013, 09:28:15 PM
 #46

very few people seem truly committed to Bitcoin as a currency
You're a silly little man who intentionally doesn't consider all the facts.
You've cherry picked negative aspects and ignored the rest.
That makes everything you just said pointless.  How people do this will always confound me.
You'd think a person speaking would want their words to hold some water.
Yet they speak while knowingly ignoring facts which disprove their words.  Human beings are sad...
The opportunists who are trying to make money off Bitcoin right now are the very organizations which will thrust Bitcoin into the mainstream.
Greed is necessary to get Bitcoin out of the nerd circles and onto the main stage.
Greed doesn't always mean failure.  This is another reason why your viewpoint on reality is lacking.
Once those seeking to make money off mining hardware, merchant services, ATM's, etc have done their work, it will be at that point which those who will appreciate its positive aspects, can be used by billions of humans on earth.
There are over 6 billion people who don't have bank accounts.  And now they will.  For free.
Anyone who poo poo's this is foolish.




Many of those same people don't have access to

The Internet
Computers
Electricity
Food
Water
Shelter

Not really seeing what advantages accrue to people in those circumstances by using Bitcoin.

Well you're soon in for a big surprise. Bitcoin will change everything in exactly those markets.


Nonsense.

These people are penniless in their national currencies, and should they ever get access to Bitcoin they will be satoshiless .
StarfishPrime
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November 05, 2013, 09:35:36 PM
 #47

Somewhere out there, a garden is missing its troll.

                         
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             ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦
                        ¦¦

.
TorCoin.....
¦
¦
¦
¦
  Fully Anonymous TOR-integrated Crypto
               ¦ Windows     ¦ Linux     ¦ GitHub     ¦ macOS
     ¦
     ¦
     ¦
     ¦
.
   ANN THREAD
     ¦
     ¦
     ¦
     ¦
[/center]
revans
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November 05, 2013, 09:37:37 PM
 #48

Somewhere out there, a garden is missing its troll.


Gnomes, gardens have gnomes.
StarfishPrime
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November 05, 2013, 09:43:56 PM
 #49

Somewhere out there, a garden is missing its troll.


Gnomes, gardens have gnomes.

True, but I was picturing something far less cute, more like "chucky" clutching a dollar bill.

                         
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                        ¦¦

.
TorCoin.....
¦
¦
¦
¦
  Fully Anonymous TOR-integrated Crypto
               ¦ Windows     ¦ Linux     ¦ GitHub     ¦ macOS
     ¦
     ¦
     ¦
     ¦
.
   ANN THREAD
     ¦
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     ¦
     ¦
[/center]
revans
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November 05, 2013, 09:56:35 PM
 #50

Somewhere out there, a garden is missing its troll.


Gnomes, gardens have gnomes.

True, but I was picturing something far less cute, more like "chucky" clutching a dollar bill.


Whatever floats your boat.
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November 05, 2013, 09:56:55 PM
 #51

is it already going back up?
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bitcoin - the aerogel of money


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November 05, 2013, 10:54:01 PM
 #52

originality: 2/10
style: 3/10

GPG ID: FA868D77   bitcoin-otc:forever-d
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November 06, 2013, 12:02:05 AM
 #53

Hey all,
Just here for the worship service/ goat slaying.

Where do I get my uniform?

And where's the kool-aid???

PS   I <3 this cult!

PPS   Lets nominate Revans to high priestess.    He's obviously the smartest here AND he has a crystal ball!!!!!!!!!!!!!   (extra credit for gaming reference)

Trolololololo


The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion. – Albert Camus
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Fourth richest fictional character


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November 06, 2013, 12:30:53 AM
 #54

Too late guys, I already sold all my Bitcoins. Cheesy

Glad I got out at the top Smiley *phew!*
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November 06, 2013, 12:31:45 AM
 #55

Typically, Bitcoin cultists have dismissed the latest which demonstrates that Bitcoin has a fundamental vulnerability. Some salient facts pertinent to this issue largely ignored by this community of rampant speculators.


1. Despite what Bitcoin cultists claim, Bitcoin does have a central authority. Specifically, the group responsible for the most popular Bitcoin client wields as much power over Bitcoin as any central bank does over state fiat.

2. A fork of the most popular client with what we shall call a war miner module (extra credit for spotting the gaming reference) would quickly become popular with all those people who invested in ASIC hardware, but ended up  out of pocket as mining difficulty moved ahead of them.

3. There seems to be a foolish assumption that nobody would bother exploiting this systemic flaw in Bitcoin because to do so would destroy the very thing they would be investing in exploiting. Alas gentlemen, you shall be hoist be your own petard. For all the talk of a brave new world of cryptocurrency, free from the ruinous short-termism of state fiat, what you have is a community whose engagement with Bitcoin is entirely speculative in nature. It's all about riding the bubble and cashing out before it explodes, very few people seem truly committed to Bitcoin as a currency, rather a means to acquire more of the sate fiat they claim to detest. You've collectively recreated the very worst excesses of the Wall St. Mafia, and as a consequence there are plenty in the Bitcoin community who will seek to exploit this core vulnerability for profit.

The greed that created the bubble in Bitcoin will burn it to the ground just as quickly.
Oh Revans. You may have just outsmarted yourself. Now that you've rid yourself of all bitcoin and have no business here except your own, what is your next chapter in life?

We admire elephants in part because they demonstrate what we consider the finest human traits: empathy, self-awareness, and social intelligence. But the way we treat them puts on display the very worst of human behavior.
-Graydon Carter
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November 06, 2013, 02:22:51 AM
 #56


Quote
fundamental flaw? 


The fundamental flaw with bitcoin is that it is not a UNIT.  Currency is 3 things. 1. a store of value
                                                                                                           2. a medium of exchange
                                                                                                           3. a UNIT of account

Bitcoin is not currency because it is not a UNIT. Units are definable in objective terms and are a constant
Bitcoin is not definable and is not a constant. Bitcoin has the same problem as the dollar since 1971. It cant be defined.

For bitcoin to become currency it has to be defined and the limit has to be removed. The amount of bitcoin would then have to change in relation to demand for it to keep the definition true.   

COBINHOOD – ZERO TRADING FEE CRYPTOCURRENCY EXCHANGE 
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November 06, 2013, 02:35:11 AM
 #57


Quote
fundamental flaw?  


The fundamental flaw with bitcoin is that it is not a UNIT.  Currency is 3 things. 1. a store of value
                                                                                                           2. a medium of exchange
                                                                                                           3. a UNIT of account

Bitcoin is not currency because it is not a UNIT. Units are definable in objective terms and are a constant
Bitcoin is not definable and is not a constant. Bitcoin has the same problem as the dollar since 1971. It cant be defined.

For bitcoin to become currency it has to be defined and the limit has to be removed. The amount of bitcoin would then have to change in relation to demand for it to keep the definition true.  


Yeah.....see, your myopic focus on this unit pedantry doesn't make sense in your other threads either.

What about bitcoin lacks units? Just because the unit is defined at the protocol layer in binary...is that what's annoying you here? The inherent abstractness of digital assets? You're kinda sounding like an old-school gold bug who can't get his head around something non-physically-tangible...


Edit: Ugh...I can't believe I bumped this thread! Says to self: "Don't feed the trolls....don't feed the trolls..."

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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November 06, 2013, 02:43:39 AM
 #58


Quote
fundamental flaw?  


The fundamental flaw with bitcoin is that it is not a UNIT.  Currency is 3 things. 1. a store of value
                                                                                                           2. a medium of exchange
                                                                                                           3. a UNIT of account

Bitcoin is not currency because it is not a UNIT. Units are definable in objective terms and are a constant
Bitcoin is not definable and is not a constant. Bitcoin has the same problem as the dollar since 1971. It cant be defined.

For bitcoin to become currency it has to be defined and the limit has to be removed. The amount of bitcoin would then have to change in relation to demand for it to keep the definition true.  


Yeah.....see, your myopic focus on this unit pedantry doesn't make sense in your other threads either.

What about bitcoin lacks units? Just because the unit is defined at the protocol layer in binary...is that what's annoying you here? The inherent abstractness of digital assets? You're kinda sounding like an old-school gold bug who can't get his head around something non-physically-tangible...


Edit: Ugh...I can't believe I bumped this thread! Says to self: "Don't feed the trolls....don't feed the trolls..."


What is that definition? What is objectively equal too? It is not that it is not tangible. We have units of electricity and they are not tangible. The problem is it is not definable.

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November 06, 2013, 04:11:49 AM
 #59


Currency is 3 things. 1. a store of value
                               2. a medium of exchange
                               3. a UNIT of account

Bitcoin is not currency because it is not a UNIT. Units are definable in objective terms and are a constant
Bitcoin is not definable and is not a constant. Bitcoin has the same problem as the dollar since 1971. It cant be defined.


Mail is 3 things: 1. a mail box
                        2. an envelope
                        3. a mailman

SMTP is not mail cos you can't put the bits indide an envelope, and there's no mailman... So it doesnt fit the definition of mail despite the fact it has the same functionality.. Theres even people who call it "email"! What a bunch of fools!

Everybody knows that the definition of money is an static and immutable god-given concept. It cant evolve along the years! Whats this kind of sorcery? Let's call the spanish inquisition! I'm sending my carrier piggeon now...
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November 06, 2013, 04:16:19 AM
 #60

i think btc be price 300$

 Huh

you tallk about some small panic
about project bitcoin is die

you need call doctor

all people try/make big money

also a lot people invest a lot money for this procedure


 Roll Eyes

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