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Author Topic: bitcoin article (gizmodo) one more media source stating the death of bitcoin  (Read 2467 times)
Littleshop
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August 08, 2011, 08:59:01 PM
 #21

With the value of Bitcoin being derived almost exclusively on optimism of increased value via speculation, Bitcoin's value is precisely what its exchange value is. There is nothing else you can effectively do with Bitcoin. No goods/service economy to speak of. No widespread adoption. Bitcoin = exchange value, and its drop is because (1) people are pulling their money out of the game and (2) Bitcoin's are suffering tremendous inflation as Bitcoin's continue to be mined and dumped onto the market. All the defationary glory comes after mining ends, not now.

Lol.

Dead? Rofl! Bitcoin != exchange rate

You can eat though bitmunchies.com.  You can be clothed with many people's shirts and you can go online for a year with bitcoin via my clear USB sticks.

There is plenty of economy. 


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Shinobi
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August 08, 2011, 09:14:54 PM
 #22

Phew, I'm starving. I think I'll wait 3 days for an order from Bitmunchies! I'm in the mood for some fresh vegetables and meat. Uh oh...

Please.

With the value of Bitcoin being derived almost exclusively on optimism of increased value via speculation, Bitcoin's value is precisely what its exchange value is. There is nothing else you can effectively do with Bitcoin. No goods/service economy to speak of. No widespread adoption. Bitcoin = exchange value, and its drop is because (1) people are pulling their money out of the game and (2) Bitcoin's are suffering tremendous inflation as Bitcoin's continue to be mined and dumped onto the market. All the defationary glory comes after mining ends, not now.

Lol.

Dead? Rofl! Bitcoin != exchange rate

You can eat though bitmunchies.com.  You can be clothed with many people's shirts and you can go online for a year with bitcoin via my clear USB sticks.

There is plenty of economy. 



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TraderTimm
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August 08, 2011, 09:37:57 PM
 #23

wait gizmodo does something beside aapl keynote coverage??

I did not know that.

Hahahaha, nice.

Gizmodo has it's tongue so far up Apple's ... interface, you wonder if they are just a PR-Arm for them. Maybe it was part of the plea-bargin to keep the idiot who broke the iphone 4 story out of jail.

fortitudinem multis - catenum regit omnia
Littleshop
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August 08, 2011, 10:00:41 PM
 #24

Phew, I'm starving. I think I'll wait 3 days for an order from Bitmunchies! I'm in the mood for some fresh vegetables and meat. Uh oh...

Please.

Go to the Meze grill then!  They will serve you up quick. 

Look, I do not care if you do not like all of the services and products out there that can be bought for bitcoin.  But to say they don't exist is a lie. 

ampirebus
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August 08, 2011, 10:09:16 PM
 #25

am i the only one who clicked the source article gizmodo referenced... apparently

http://www.theatlantic.com/technology/archive/2011/08/the-bitcoin-economy-is-collapsing-with-no-sign-of-recovery/243253/

if everyones argument is going to be "well gizmodo had it out for bitcoins anyway theyre just a _insert tech company name here_ fanboy"...

the gizmodo article basically re-wrote the atlantic article but more dumbed down. The atlantic is completely unbiased and one of the award winning publications of the modern era. its articles have a higher standard of reporting than most... the facts proposed are legitimate. the value of bitcoin has gone down substantially and is at this point in time showing no signs of recovery...

wareen
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August 08, 2011, 10:29:02 PM
 #26

There is nothing else you can effectively do with Bitcoin. No goods/service economy to speak of.
So amazon.com doesn't offer any goods to speak of - interesting world view you have there Wink
I alone spent ~70BTC on Amazon since spendbitcoins.com went live but yeah - nothing to speak of...

Funny how people were all excited about Bitcoin's price a little over two months ago when it traded at about 8 USD as well. We had a bubble, the price was hyped and now we've come back to the price level before the bubble again - so what? Gavin predicted this would happen and quite frankly: we all should have known.

The "value" of Bitcoin can't be determined by a quick glance at the current price from Mt. Gox. Give it a few years time and then lets talk again.

Let's face it: the blockchain isn't going to go away - Bitcoin is here to stay.
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