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Author Topic: Did you read this!?!??!  (Read 904 times)
Leandro César
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August 08, 2011, 09:58:17 PM
 #1

What a hell!!!!

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

L.

Leandro César
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The Script
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August 08, 2011, 11:44:16 PM
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This is the standard procedure from the mainstream media.  They have been decrying the end of bitcoins for some time now.  The irrational fear and hatred of bitcoins is astounding, everyone in the mainstream wants to see it fail.  We'll see who has the last laugh.
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August 09, 2011, 04:00:42 AM
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This is the standard procedure from the mainstream media.  They have been decrying the end of bitcoins for some time now.  The irrational fear and hatred of bitcoins is astounding, everyone in the mainstream wants to see it fail.  We'll see who has the last laugh.

Agreed. Remember, no one has busted Bitcoin itself, it's just wonky websites and sleezy people that are going down. The light attracts bugs.

Annona ad! Please keep in mind that there is nothing wrong with Bitcoin itself. All it's scandals are caused by wonky websites and sleazy people exploiting it. The light attracts bugs.

When all this bullshit drys up and blows away, Bitcoin will be stronger than ever.
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August 09, 2011, 04:19:38 AM
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Yeah, this is the sawm guy that had another article saying essentially bitcoin wont succeed because they have no intrinsic value, that was a poor article.

This article is even worse in quality, essentially he says bitcoin is going down....for good, and doesn't even give any reasons why, never mind that he doesn't mention any of the reasons for the drops over the last month either.

Poor journalism, just ignore.

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The Script
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August 09, 2011, 04:55:25 AM
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Yeah, this is the sawm guy that had another article saying essentially bitcoin wont succeed because they have no intrinsic value, that was a poor article.

This article is even worse in quality, essentially he says bitcoin is going down....for good, and doesn't even give any reasons why, never mind that he doesn't mention any of the reasons for the drops over the last month either.

Poor journalism, just ignore.

Agreed.  Hey Nefario, I read an article about you getting turned away by American custom agents.  Good times?  Wink
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August 09, 2011, 06:51:41 AM
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Yeah, this is the sawm guy that had another article saying essentially bitcoin wont succeed because they have no intrinsic value, that was a poor article.

This article is even worse in quality, essentially he says bitcoin is going down....for good, and doesn't even give any reasons why, never mind that he doesn't mention any of the reasons for the drops over the last month either.

Poor journalism, just ignore.

Agreed.  Hey Nefario, I read an article about you getting turned away by American custom agents.  Good times?  Wink

Good times.

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rainingbitcoins
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August 09, 2011, 07:44:39 AM
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Why is there a big brown pile of shit in the corner of that Bitcoin comic?
The Script
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August 09, 2011, 07:44:51 AM
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LOL
Weaver
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August 09, 2011, 07:54:31 AM
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baha, the other day some talking head on tv was talking about how the world needed a new currency because of the stock market crash. Now people are saying the new currency is about to die? I only hope this pushes some people to sell so I can get a better price to buy :d

O.o
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August 09, 2011, 07:57:30 AM
 #10

The comic is shitty but funny. Anyhow, about the media writing on the bitcoin economy, it reminds me of that awesome book by Noam Chomski: "Manufacturing Consent" (a must read for anyone on this forum IMHO).
Likewise, economists must feed their families too: they all dream of being hired by Goldman Sachs or some central bank. Banks can shut up any economist with a big fat pay check.

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August 09, 2011, 11:58:56 AM
 #11

The comic is shitty but funny.
And also it's based on a true story: https://blog.glbse.com/ , https://bitcointalk.org/index.php?topic=28732.0

Quote from: theatalantic.com
The problem with Bitcoins is the same thing that people love about Bitcoins: They leave no trace. It takes an incredible amount of computing power to create new Bitcoins with a PC
[...]
And a complicated algorithm keeps the total supply steady. Once these digital coins are created, they're still just a handful of bits and bytes, a little piece of encrypted code. There is no fundamental value.
I liked that part much.

I will sign you up anonymously at realitykings.com (http://rk.com)[NSFW] for Bitcoins with 20% discount!
http://timmey.orgfree.com/s.php
read all details in this thread (https://bitcointalk.org/index.php?topic=3242Cool
Nefario
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August 09, 2011, 12:30:59 PM
 #12

The comic is shitty but funny.
And also it's based on a true story: https://blog.glbse.com/ , https://bitcointalk.org/index.php?topic=28732.0

Quote from: theatalantic.com
The problem with Bitcoins is the same thing that people love about Bitcoins: They leave no trace. It takes an incredible amount of computing power to create new Bitcoins with a PC
[...]
And a complicated algorithm keeps the total supply steady. Once these digital coins are created, they're still just a handful of bits and bytes, a little piece of encrypted code. There is no fundamental value.
I liked that part much.

Thats an interesting point, just a few bits and bytes which is true. What is also true is that the vast (VAST) majority or money today is also just a number on a machine. All those trillions are not on pieces of paper, they're numbers on machines.....

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Boussac
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August 10, 2011, 11:34:14 AM
 #13

+1 Incredibly, most people today do not know that 90% of the money in use today (euros or dollars) exists only electronically in the ledgers of the banks. It's backed by nothing except the assumption that the government has unlimited taxation power over the entire economy of the country.

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