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Author Topic: Seriously guys, why?  (Read 4609 times)
the joint
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August 23, 2011, 10:56:17 PM
 #41

I also have a feeling I already am and will always be richer than you, so long as you hold that mentality.

Heh that's what poor people always say Cheesy

Good luck.


Back atcha, considering your decision would depend entirely on market luck.  Send me a BTC address and I'll donate to you, if it's that important to you.

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August 23, 2011, 11:01:45 PM
 #42

I also have a feeling I already am and will always be richer than you, so long as you hold that mentality.

Heh that's what poor people always say Cheesy

Good luck.


Back atcha, considering your decision would depend entirely on market luck.  Send me a BTC address and I'll donate to you, if it's that important to you.

14Z1mazY4HfysZyMaKudFr63EwHqQT2njz
the joint
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August 23, 2011, 11:03:40 PM
 #43

I also have a feeling I already am and will always be richer than you, so long as you hold that mentality.

Heh that's what poor people always say Cheesy

Good luck.


Back atcha, considering your decision would depend entirely on market luck.  Send me a BTC address and I'll donate to you, if it's that important to you.

14Z1mazY4HfysZyMaKudFr63EwHqQT2njz


Sent.  Now go fuck yourself.

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August 23, 2011, 11:08:10 PM
 #44

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Sent.  Now go fuck yourself.

LOL. http://www.bitcoinmonitor.com
RandyFolds
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August 23, 2011, 11:56:36 PM
 #45

Honestly, I wonder why some random miner from 2009 with 400k Bitcoin HASN'T sold everything.  I think he's a fantastically huge idiot if he hasn't done so already.  Seriously...being an early adopter is like finding a million dollars superglued to the sidewalk (gotta do a little thinking to get it off the sidewalk without destroying it, but you're a moron to let it sit there without doing anything about it).

Why would you sell for $4 million if you can potentially sell it for $40 million next year?

Coz you're impatient, and scared.


That's one of the dumbest things I've heard in a long time.

My question or my answer to it? Perhaps you could answer the question more intelligently then.

Sure.  $4 mil is a guaranteed retirement.

Edit:  By the way, if you have $4 mil in a savings account at, let's say, an annual interest rate of .05%,  that's 20 grand a year right there for letting it sit while you figure out what the hell to do with it all.

The thought of completely retiring on a mere $4m is downright horrible to me. I'd feel like I'd completely 'given up'.

I guess people just have different expectations, but if I only made 20k per year in interest I'd feel like a loser who didn't really even try to make it big.

$40m is getting there, but really total RETIREMENT? Depends how you value time/money now I suppose.

$4m doesn't even pay for half a jet.



Aaaaand, the truth comes out. You live in your parents house, and have never had a real job. You have no fucking clue how much four million dollars is because you have watched too much TV and your brain is a mashed up pile of burning suburban garbage. You will graduate from high school in nine months and your rich white parents will give you a Jetta and pay for you to go on a backpacking trip to Europe. While there, you will get drunk and act like an obnoxious rich white kid in some dirty bar that your hipster friends drag you to because 'it's so real', oblivious to who is around you. This precipitates a brawl, which inevitably ends with you being raped in an alley. Despite the trauma, you fail to link actions to consequences and continue about your life, dumb as ever but walking a little bowlegged. You go to college, where no one likes you and major in Economics, going on to sell used BMWs. You die cold and alone.

Me? I would sell four four mil in a fucking heartbeat. A bird in the hand is worth 400,000 bitcoin in the bush.
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August 23, 2011, 11:58:44 PM
 #46

Honestly, I wonder why some random miner from 2009 with 400k Bitcoin HASN'T sold everything.  I think he's a fantastically huge idiot if he hasn't done so already.  Seriously...being an early adopter is like finding a million dollars superglued to the sidewalk (gotta do a little thinking to get it off the sidewalk without destroying it, but you're a moron to let it sit there without doing anything about it).

Why would you sell for $4 million if you can potentially sell it for $40 million next year?

Coz you're impatient, and scared.


That's one of the dumbest things I've heard in a long time.

My question or my answer to it? Perhaps you could answer the question more intelligently then.

Sure.  $4 mil is a guaranteed retirement.

Edit:  By the way, if you have $4 mil in a savings account at, let's say, an annual interest rate of .05%,  that's 20 grand a year right there for letting it sit while you figure out what the hell to do with it all.

The thought of completely retiring on a mere $4m is downright horrible to me. I'd feel like I'd completely 'given up'.

I guess people just have different expectations, but if I only made 20k per year in interest I'd feel like a loser who didn't really even try to make it big.

$40m is getting there, but really total RETIREMENT? Depends how you value time/money now I suppose.

$4m doesn't even pay for half a jet.



Aaaaand, the truth comes out. You live in your parents house, and have never had a real job. You have no fucking clue how much four million dollars is because you have watched too much TV and your brain is a mashed up pile of burning suburban garbage. You will graduate from high school in nine months and your rich white parents will give you a Jetta and pay for you to go on a backpacking trip to Europe. While there, you will get drunk and act like an obnoxious rich white kid in some dirty bar that your hipster friends drag you to because 'it's so real', oblivious to who is around you. This precipitates a brawl, which inevitably ends with you being raped in an alley. Despite the trauma, you fail to link actions to consequences and continue about your life, dumb as ever but walking a little bowlegged. You go to college, where no one likes you and major in Economics, going on to sell used BMWs. You die cold and alone.

Me? I would sell four four mil in a fucking heartbeat. A bird in the hand is worth 400,000 bitcoin in the bush.
Me too.  And I'd dump half of it into real estate right now.
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August 24, 2011, 12:07:18 AM
 #47

Aaaaand, the truth comes out. You live in your parents house, and have never had a real job. You have no fucking clue how much four million dollars is because you have watched too much TV and your brain is a mashed up pile of burning suburban garbage. You will graduate from high school in nine months and your rich white parents will give you a Jetta and pay for you to go on a backpacking trip to Europe. While there, you will get drunk and act like an obnoxious rich white kid in some dirty bar that your hipster friends drag you to because 'it's so real', oblivious to who is around you. This precipitates a brawl, which inevitably ends with you being raped in an alley. Despite the trauma, you fail to link actions to consequences and continue about your life, dumb as ever but walking a little bowlegged. You go to college, where no one likes you and major in Economics, going on to sell used BMWs. You die cold and alone.

Me? I would sell four four mil in a fucking heartbeat. A bird in the hand is worth 400,000 bitcoin in the bush.

Not at all. I come from a very poor family. My mum is bankrupt and my dad struggles from week to week. I barely make the mortgage payments each month.

Just because I sympathize more with the rich, doesn't mean I'm rich (yet).

I just have bigger ambitions that most, and $4m doesn't cut it, sorry.

I'd rather take a chance at $40m knowing I took a chance, and didn't cut and run when it got a bit scary, even if that means I never even make 4.
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August 24, 2011, 01:34:12 AM
 #48

Aaaaand, the truth comes out. You live in your parents house, and have never had a real job. You have no fucking clue how much four million dollars is because you have watched too much TV and your brain is a mashed up pile of burning suburban garbage. You will graduate from high school in nine months and your rich white parents will give you a Jetta and pay for you to go on a backpacking trip to Europe. While there, you will get drunk and act like an obnoxious rich white kid in some dirty bar that your hipster friends drag you to because 'it's so real', oblivious to who is around you. This precipitates a brawl, which inevitably ends with you being raped in an alley. Despite the trauma, you fail to link actions to consequences and continue about your life, dumb as ever but walking a little bowlegged. You go to college, where no one likes you and major in Economics, going on to sell used BMWs. You die cold and alone.

Me? I would sell four four mil in a fucking heartbeat. A bird in the hand is worth 400,000 bitcoin in the bush.

Not at all. I come from a very poor family. My mum is bankrupt and my dad struggles from week to week. I barely make the mortgage payments each month.

Just because I sympathize more with the rich, doesn't mean I'm rich (yet).

I just have bigger ambitions that most, and $4m doesn't cut it, sorry.

I'd rather take a chance at $40m knowing I took a chance, and didn't cut and run when it got a bit scary, even if that means I never even make 4.
"Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires." John Steinbeck

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
memvola
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August 24, 2011, 01:45:55 AM
 #49

Flexcoin already is trying to tackle the Bitcoin Address problem (e.g. send BTC to "coffeeshop"), but, unfortunately, I don't yet trust ANY online Bitcoin service with holding my money for any long period of time.

Best way to do this is using Namecoin to map names to bitcoin addresses, but I'm guessing more development will be needed for this to work seamlessly.
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August 24, 2011, 01:47:59 AM
 #50

Flexcoin already is trying to tackle the Bitcoin Address problem (e.g. send BTC to "coffeeshop"), but, unfortunately, I don't yet trust ANY online Bitcoin service with holding my money for any long period of time.

Best way to do this is using Namecoin to map names to bitcoin addresses, but I'm guessing more development will be needed for this to work seamlessly.

Afaik, no

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
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August 24, 2011, 02:00:07 AM
 #51

Aaaaand, the truth comes out. You live in your parents house, and have never had a real job. You have no fucking clue how much four million dollars is because you have watched too much TV and your brain is a mashed up pile of burning suburban garbage. You will graduate from high school in nine months and your rich white parents will give you a Jetta and pay for you to go on a backpacking trip to Europe. While there, you will get drunk and act like an obnoxious rich white kid in some dirty bar that your hipster friends drag you to because 'it's so real', oblivious to who is around you. This precipitates a brawl, which inevitably ends with you being raped in an alley. Despite the trauma, you fail to link actions to consequences and continue about your life, dumb as ever but walking a little bowlegged. You go to college, where no one likes you and major in Economics, going on to sell used BMWs. You die cold and alone.

Me? I would sell four four mil in a fucking heartbeat. A bird in the hand is worth 400,000 bitcoin in the bush.

Not at all. I come from a very poor family. My mum is bankrupt and my dad struggles from week to week. I barely make the mortgage payments each month.

Just because I sympathize more with the rich, doesn't mean I'm rich (yet).

I just have bigger ambitions that most, and $4m doesn't cut it, sorry.

I'd rather take a chance at $40m knowing I took a chance, and didn't cut and run when it got a bit scary, even if that means I never even make 4.
"Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires." John Steinbeck

Quotefail, but +1. Awesome quote.
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August 24, 2011, 02:10:36 AM
 #52

Best way to do this is using Namecoin to map names to bitcoin addresses, but I'm guessing more development will be needed for this to work seamlessly.
Afaik, no
Well, current barrier is having to install Namecoin on the sender's side. An additional protocol for querying open Namecoin nodes would be needed to make it widely available I guess...
sd
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August 24, 2011, 07:30:48 AM
 #53

I agree with this.  Flexcoin already is trying to tackle the Bitcoin Address problem (e.g. send BTC to "coffeeshop"), but, unfortunately, I don't yet trust ANY online Bitcoin service with holding my money for any long period of time.  For me, TradeHill is as close as it gets yet I still have paranoia in the back of my mind of losing it all.  It's a big problem to me when the terms of service imply that they are under no liability to owe you anything should their site say, 'happen' to go down, or 'happen' to be hacked.

Flexcoin is trying to fix the address issue the wrong way, they want to control the namespace. With DNS everyone controls their own namespace which they can manage themselves or delegate to a trusted DNS provider. I think piggybacking the addresses onto DNS is the right thing to do as DNS is already used everywhere.

Like you say I'd not trust flexcoin to handle my addresses or hold my coins unless they can prove they have everything insured. And maybe not even then. Bitcoin is meant to be peer-to-peer, centralizing large parts of only makes it prone to attack.
the joint
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August 24, 2011, 07:33:24 AM
 #54

Aaaaand, the truth comes out. You live in your parents house, and have never had a real job. You have no fucking clue how much four million dollars is because you have watched too much TV and your brain is a mashed up pile of burning suburban garbage. You will graduate from high school in nine months and your rich white parents will give you a Jetta and pay for you to go on a backpacking trip to Europe. While there, you will get drunk and act like an obnoxious rich white kid in some dirty bar that your hipster friends drag you to because 'it's so real', oblivious to who is around you. This precipitates a brawl, which inevitably ends with you being raped in an alley. Despite the trauma, you fail to link actions to consequences and continue about your life, dumb as ever but walking a little bowlegged. You go to college, where no one likes you and major in Economics, going on to sell used BMWs. You die cold and alone.

Me? I would sell four four mil in a fucking heartbeat. A bird in the hand is worth 400,000 bitcoin in the bush.

Not at all. I come from a very poor family. My mum is bankrupt and my dad struggles from week to week. I barely make the mortgage payments each month.

Just because I sympathize more with the rich, doesn't mean I'm rich (yet).

I just have bigger ambitions that most, and $4m doesn't cut it, sorry.

I'd rather take a chance at $40m knowing I took a chance, and didn't cut and run when it got a bit scary, even if that means I never even make 4.

...Wow dude.  I think you've blown my mind.  Do you like being this stupid?

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August 24, 2011, 07:45:18 AM
 #55

Best way to do this is using Namecoin to map names to bitcoin addresses, but I'm guessing more development will be needed for this to work seamlessly.
Afaik, no
Well, current barrier is having to install Namecoin on the sender's side. An additional protocol for querying open Namecoin nodes would be needed to make it widely available I guess...


It would take very little development to store bitcoin addresses in DNS. That way you could store them in namecoin's .bit domain or the existing ones like .com, .co.uk, etc.. The clients would be able to resolve namecoin addresses or the current generic or country code addresses if setup right. Everyone who has an internet site already has DNS setup so it seems sensible to reuse this. Using DNS in this way has already been proven for SPF mail filtering and people have been adding text records to their DNS since DNS was invented.

The problem being that not all DNS uses DNSSEC, the latest and greatest crypto protected DNS yet. Without this some attacks are technically possible under certain conditions. The world is moving to DNSSEC for other reasons so that problem is slowly going away.
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August 24, 2011, 12:40:29 PM
 #56

I come from a very poor family. My mum is bankrupt and my dad struggles from week to week. I barely make the mortgage payments each month.

Just because I sympathize more with the rich, doesn't mean I'm rich (yet).

I just have bigger ambitions that most, and $4m doesn't cut it, sorry.

I'd rather take a chance at $40m knowing I took a chance, and didn't cut and run when it got a bit scary, even if that means I never even make 4.

...Wow dude.  I think you've blown my mind.  Do you like being this stupid?

I love it.
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August 24, 2011, 02:16:13 PM
 #57

Nobody even knows how to pronounce Freicoin and you expect people to use it?

Of course, germans know how to pronounce it. It is pronounced similarly in spanish. I didn't even thought about that.
For english people, the 'ei' part would be pronounced as an 'a'
The phonetic transcription is eɪ. Examples of the pronunciation: say, eight

If the name is really a problem, it can be changed. But I think that the benefits of demurrage are harder to understand. People often don't even see the disadvantages of a central bank. So yes, I advocate for bitcoin every chance I got. And for Gold and silver, I just think they're flawed moneys, even if they're much better than dollars and euros.

2 different forms of free-money: Freicoin (free of basic interest because it's perishable), Mutual credit (no interest because it's abundant)
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August 24, 2011, 05:05:39 PM
 #58

The problem being that not all DNS uses DNSSEC, the latest and greatest crypto protected DNS yet. Without this some attacks are technically possible under certain conditions. The world is moving to DNSSEC for other reasons so that problem is slowly going away.

I agree that DNS makes sense. DNSSEC and maybe other methods (?) may be used. What I was trying to assert is that Namecoin is the best way to do it, more as a side note for Namecoin development than solving the problem at hand. For instance, you wouldn't need the security stuff in the case of a local Namecoin installation, it could even be coupled with the Bitcoin distro if the blockchain size weren't a concern. So anyway, I haven't checked the state of Namecoin for a couple of months, it's probably time to dive back in and help with these.
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August 24, 2011, 05:57:15 PM
 #59

Aaaaand, the truth comes out. You live in your parents house, and have never had a real job. You have no fucking clue how much four million dollars is because you have watched too much TV and your brain is a mashed up pile of burning suburban garbage. You will graduate from high school in nine months and your rich white parents will give you a Jetta and pay for you to go on a backpacking trip to Europe. While there, you will get drunk and act like an obnoxious rich white kid in some dirty bar that your hipster friends drag you to because 'it's so real', oblivious to who is around you. This precipitates a brawl, which inevitably ends with you being raped in an alley. Despite the trauma, you fail to link actions to consequences and continue about your life, dumb as ever but walking a little bowlegged. You go to college, where no one likes you and major in Economics, going on to sell used BMWs. You die cold and alone.

Me? I would sell four four mil in a fucking heartbeat. A bird in the hand is worth 400,000 bitcoin in the bush.

Not at all. I come from a very poor family. My mum is bankrupt and my dad struggles from week to week. I barely make the mortgage payments each month.

Just because I sympathize more with the rich, doesn't mean I'm rich (yet).

I just have bigger ambitions that most, and $4m doesn't cut it, sorry.

I'd rather take a chance at $40m knowing I took a chance, and didn't cut and run when it got a bit scary, even if that means I never even make 4.
Since you still have a mum and dad, I am going to assume you are 35 or younger.  Maybe that's a wrong assumption, but I'll go with it unless you tell me otherwise.

So, take the $4M, invest it in some good mutual funds with an average yield of 12% (yes, it is very doable), and you'll have $43M in 20 years.

Even if your investments didn't do as well as 12%, I can guarantee you (and your mum and dad) would be a heck of a lot better off with $4M than bankrupt and struggling to pay the bills every month.
the joint
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August 24, 2011, 06:22:39 PM
 #60

I come from a very poor family. My mum is bankrupt and my dad struggles from week to week. I barely make the mortgage payments each month.

Just because I sympathize more with the rich, doesn't mean I'm rich (yet).

I just have bigger ambitions that most, and $4m doesn't cut it, sorry.

I'd rather take a chance at $40m knowing I took a chance, and didn't cut and run when it got a bit scary, even if that means I never even make 4.

...Wow dude.  I think you've blown my mind.  Do you like being this stupid?

I love it.


Sucks wishing for things you don't have, doesn't it?  I suggest you reconsider how far your thinking has actually gotten you financially...

Sympathizing more with the rich?  Do you truly hate your parents or something?

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