Bitcoin Forum
December 09, 2016, 02:26:14 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 4 5 6 [7]  All
  Print  
Author Topic: EVERYONE CALM DOWN  (Read 13491 times)
proudhon
Legendary
*
Offline Offline

Activity: 1148



View Profile
September 23, 2011, 11:28:37 PM
 #121

Nagle, how do you feel about Gold? It doesn’t pay any dividend either, and its industrial and economic use is very limited.

Is this a pyramid scheme as well?

I like your answer. It's funny how Chodpabas answer is very similar to yours, yet yours doesn't get disputet at all, while the thread unwinds to discuss Chodpabas answer at length.

It's because, well, who would dispute the value of gold? It's had value for thousands of years, yet is suffers some of the same "problems" bitcoin "suffers" from.

I've been pointing out that bitcoin is more like gold than like a currency (or, god beware, bank notes) since I first got in touch with bitcoin in early 2011. That sentiment doesn't resonate much for some reason and people just go on to discuss money, investement, economics,... probably a good thing.

If I can buy a ring of bitcoin, and propose to my girlfriend with it, then bitcoin is like gold.  If I can't, then your argument fails.

Seems you don't grasp what it is to say one thing is more like another.  Saying that bitcoin is more like gold than like a currency is not saying that anything one can do with gold one can do with bitcoin.   Crossbows are more like handguns than like pocket knives.  That doesn't mean that I ought to be able to effectively fire bullets from a crossbow.
1481250374
Hero Member
*
Offline Offline

Posts: 1481250374

View Profile Personal Message (Offline)

Ignore
1481250374
Reply with quote  #2

1481250374
Report to moderator
Even if you use Bitcoin through Tor, the way transactions are handled by the network makes anonymity difficult to achieve. Do not expect your transactions to be anonymous unless you really know what you're doing.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481250374
Hero Member
*
Offline Offline

Posts: 1481250374

View Profile Personal Message (Offline)

Ignore
1481250374
Reply with quote  #2

1481250374
Report to moderator
mizike29
Full Member
***
Offline Offline

Activity: 168


View Profile
November 17, 2011, 02:48:33 AM
 #122

One has to agree it carries characteristics of gold as well as a bunch of other crap lol.  Only problem is now its pretty close to worthless and has been for a couple months,  2bux a bitcoin isnt going to cut it with the cost it takes to make them and the difficulty to use them for things that matter.  So now there like cheap trading cards

legolouman
Sr. Member
****
Offline Offline

Activity: 448


Decent Programmer to boot!


View Profile
November 17, 2011, 03:19:05 AM
 #123

One has to agree it carries characteristics of gold as well as a bunch of other crap lol.  Only problem is now its pretty close to worthless and has been for a couple months,  2bux a bitcoin isnt going to cut it with the cost it takes to make them and the difficulty to use them for things that matter.  So now there like cheap trading cards

Nice necrobump. While true, I think the community has learned to accept them, and slowly people are selling out of Bitcoin.

If you love me, you'd give me a Satoshi!
BTC - 1MSzGKh5znbrcEF2qTrtrWBm4ydH5eT49f
LTC - LYeJrmYQQvt6gRQxrDz66XTwtkdodx9udz
casascius
Mike Caldwell
VIP
Legendary
*
Offline Offline

Activity: 1344


The Casascius 1oz 10BTC Silver Round (w/ Gold B)


View Profile WWW
November 17, 2011, 03:33:47 AM
 #124

If I can buy a ring of bitcoin, and propose to my girlfriend with it, then bitcoin is like gold.  If I can't, then your argument fails.

I wonder if I can embed a private key inside a ring.  Then it really would be a ring of bitcoin.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
nelisky
Legendary
*
Offline Offline

Activity: 1554


View Profile
November 17, 2011, 09:18:46 AM
 #125

If I can buy a ring of bitcoin, and propose to my girlfriend with it, then bitcoin is like gold.  If I can't, then your argument fails.

This is just plain wrong, in the karmic sense of the word! Bitcoins are about freedom, why would you use then to help you tie the knot?

Wrong, wrong, wrong... now I have to take a long shower and scrub myself clean.
cbeast
Donator
Legendary
*
Offline Offline

Activity: 1722

Let's talk governance, lipstick, and pigs.


View Profile
November 17, 2011, 09:30:50 AM
 #126

If I can buy a ring of bitcoin, and propose to my girlfriend with it, then bitcoin is like gold.  If I can't, then your argument fails.

I wonder if I can embed a private key inside a ring.  Then it really would be a ring of bitcoin.

A nice gold locket or broach containing Bitcoin with a sparkling hologram might look nice.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
mizike29
Full Member
***
Offline Offline

Activity: 168


View Profile
November 23, 2011, 12:11:47 AM
 #127

Really sucks that this died, forums dying, support dying price dying, bitcoins have become pointless and does now seem to have been a ponzi or pyramid scheme lol  Just wish I would have hit it hard at 30 bux.

DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218


Gerald Davis


View Profile
November 23, 2011, 12:21:21 AM
 #128

It isn't that Bitcoin was designed poorly. The deflation theory was bad, but the other problems, that have to do with mining were unforeseen. Satoshi didn't think that GPU's would end up being used to mine BTC, and that is where these problems are coming from.

What problems are related to GPU (or mining in general)?
legolouman
Sr. Member
****
Offline Offline

Activity: 448


Decent Programmer to boot!


View Profile
November 23, 2011, 01:08:28 AM
 #129

If I can buy a ring of bitcoin, and propose to my girlfriend with it, then bitcoin is like gold.  If I can't, then your argument fails.

I wonder if I can embed a private key inside a ring.  Then it really would be a ring of bitcoin.

Take one of your coins, then do the ring from a coin thing (I've seen an article on wiki-how or something.).
It isn't that Bitcoin was designed poorly. The deflation theory was bad, but the other problems, that have to do with mining were unforeseen. Satoshi didn't think that GPU's would end up being used to mine BTC, and that is where these problems are coming from.

What problems are related to GPU (or mining in general)?

IMHO GPU's turned a project like Bitcoin (a decentralized currency) and turned it into a gaining investment. GPU's gave way to farming, and thus gave way to an enhanced deflationary symptom. Without GPU's, I personally don't think we'd be in the situation we are in now.

If you love me, you'd give me a Satoshi!
BTC - 1MSzGKh5znbrcEF2qTrtrWBm4ydH5eT49f
LTC - LYeJrmYQQvt6gRQxrDz66XTwtkdodx9udz
DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218


Gerald Davis


View Profile
November 23, 2011, 01:13:48 AM
 #130

IMHO GPU's turned a project like Bitcoin (a decentralized currency) and turned it into a gaining investment. GPU's gave way to farming, and thus gave way to an enhanced deflationary symptom. Without GPU's, I personally don't think we'd be in the situation we are in now.

Please explain.  The number of coins generated is static.  Had GPU mining been impossible when prices spiked you would have seen CPU farms being built instead.  Find the combination of hardware which produces the most MH/W.  If 1 unit is profitable then 10 units are 10x as profitable.  Also without the improved economics of GPU we all would be hashing of FPGA.  FPGA destroy CPU in both price and efficiency.  Adoption has only been slow because the higher cost (relative to GPU) outweighs the higher efficiency in the mind of most miners.  Still the trend is inevitable.

If Bitcoin lasts long enough we will go all the way to custom ASICs.

Unoptomized CPU -> OpenCL CPU miners -> GPU miners -> FPGA miners -> SASIC miners -> Full custom ASIC miners.

Blaming GPU is like blaming the Irish immigrants for all the ills of America circa early 1800s.
Jonathan Ryan Owens
Donator
Sr. Member
*
Offline Offline

Activity: 392



View Profile WWW
November 23, 2011, 01:15:21 AM
 #131

If I can buy a ring of bitcoin, and propose to my girlfriend with it, then bitcoin is like gold.  If I can't, then your argument fails.

I wonder if I can embed a private key inside a ring.  Then it really would be a ring of bitcoin.

Take one of your coins, then do the ring from a coin thing (I've seen an article on wiki-how or something.).
It isn't that Bitcoin was designed poorly. The deflation theory was bad, but the other problems, that have to do with mining were unforeseen. Satoshi didn't think that GPU's would end up being used to mine BTC, and that is where these problems are coming from.

What problems are related to GPU (or mining in general)?

IMHO GPU's turned a project like Bitcoin (a decentralized currency) and turned it into a gaining investment. GPU's gave way to farming, and thus gave way to an enhanced deflationary symptom. Without GPU's, I personally don't think we'd be in the situation we are in now.

$18k in electric bills per day, with an average loss of 25% per coin produced by miners, that could otherwise be used to purchase bitcoins? You think that it's bad for Bitcoin that up to $540k a month flows out of the system to pay electric bills? Are you suggesting *gasp* that miners should put that money toward supporting Bitcoin by purchasing them for less than they mine them for rather than hoping for speculators and idealistic white knights to continually keep the ship afloat?

Nonsense, sir! I call shenanigans!

-Jonathan

Cluster2k
Legendary
*
Offline Offline

Activity: 1512


View Profile
November 23, 2011, 10:44:20 AM
 #132

Really sucks that this died, forums dying, support dying price dying, bitcoins have become pointless and does now seem to have been a ponzi or pyramid scheme lol  Just wish I would have hit it hard at 30 bux.

You're not the only one.  Many people wish they could have dumped their bitcoins for at least $20 each.  Anyone claiming they didn't mind missing the bubble just isn't very good at math.

Do not send bitcoins to me: 16b8s7pBJ9rUmsExNW25qD5VUqVqRPZuXu
100% solar powered bitcoin generation
naypalm
Legendary
*
Offline Offline

Activity: 1212


AFK :/


View Profile WWW
November 23, 2011, 11:03:49 AM
 #133

Every time I see this thread title, I think of



I see the low price of BTC as a excellent opportunity to invest great deals of money  Wink

Pages: « 1 2 3 4 5 6 [7]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!