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Author Topic: At what pricepoint is bitcoin dead?  (Read 25825 times)
giszmo
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October 23, 2011, 09:04:31 AM
 #161

Do you know a graph of mining profitability? Should be doable:
We know the difficulty over time.
We know the exchange rate of bitcoin over time.
We should be able to get the hashing efficiency over time for the most common miners.
We know since when there is merged mining.
We know the exchange rate of namecoin over time.
People can set in their rate for wattage.

I would offer a bounty of 3BTC for a link to a page that respects all these for a nice trend line.

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mizike29
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October 24, 2011, 01:16:45 AM
 #162

Your talking about that one website, and nothing really wrong with paypal, or money order, or sending in a check.  If you dont want something connected to you then your either paranoid or its illegal, really no worries connecting yourself to 99 percent of businesses out there to buy anything online.  Yeah graph would be cool and I have seen something similar, but its really not the difficulty, its just at 2 bux a bitcoin, you have no choice but to spend about 600  to 700 bux for a decent mining rig, its going to take a long damn time at 2 bux a bitcoin just to break even on just your rig, then you have the difficulty and electricity that gets into play more after you finally break even in years lol.

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October 24, 2011, 01:43:11 AM
 #163

  If you dont want something connected to you then your either paranoid or its illegal

I see no boundaries except child porn and torture/murder for bitcoins being wrong, everything else is fair game. And if you think people are paranoid look at what they are doing to the wikileaks founder, trying to pin anything he's ever done with fake charges just to get him, only reason he's not in jail for 30 years is because he was super smart and a ex hacker who knew how and when to hide his tracks.
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October 24, 2011, 01:55:33 AM
 #164

If you dont want something connected to you then your either paranoid or its illegal, really no worries connecting yourself to 99 percent of businesses out there to buy anything online.

you can call it paranoia if you like.

i call it not handing out personal information unnecessarily, if there's an alternative.
ShadowOfHarbringer
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October 24, 2011, 08:50:23 AM
 #165

If you dont want something connected to you then your either paranoid or its illegal, really no worries connecting yourself to 99 percent of businesses out there to buy anything online

Either he is paranoid, or you are naive.
There are people who like their privacy and don't want whole world to know about everything they do.

Also, I have a famous quote for you:

Quote from: Mark Zuckerberg
Zuck: Yeah so if you ever need info about anyone at Harvard
Zuck: Just ask.
Zuck: I have over 4,000 emails, pictures, addresses, SNS
(...)
Zuck: People just submitted it.
Zuck: I don't know why.
Zuck: They "trust me"
Zuck: Dumb fucks

mizike29
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October 24, 2011, 08:49:01 PM
 #166

Come on man lets be real though.  I am a very very very active buyer, seller online and so are most of my friends.  Who cares if someone knows you bought a book at amazon, or a hard drive at newegg.  There not getting any more information then I can find on you by your IP address, and doing some research, or glancing at your mail and getting your name, any trash you throw away, bills, letters etc.  Credit cards are safe, protected with chargebacks, and fraud, paypal same thing, and theres not much they can do with the little information they get when you buy something.  And if your that worried pay with a damn money order from a post office under a fake name.  Bitcoins are only semi easy inside the USA.  The value is extremely sketchy, not much upside with bitcoins at this point.  Yes I understand you might want to keep yourself private with porn, drugs etc but come on, I have been buying and selling shit online for over 10 years now, not much risk at this point.

ShadowOfHarbringer
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October 24, 2011, 09:25:05 PM
 #167

Who cares if someone knows you bought a book at amazon, or a hard drive at newegg.  

The state cares.
Using anylysis of what books you buy, they can analyse your psychological profile, how you behave, where you go every weekend, or if you are a disident/oppositionist.

Actually, I CAN DO IT EASILY if I have enough statistical data (I am a programmer). If I can do it means not only they can do it, but they are already doing it.

After they determine you are a "threat", they either make you a non-rejectable offer, or they simply come at night and you are never heard from again.

I live in a post-communist country, so i know how this works. At first, they eleminate the handful that oppose the strongest. Then the next, weaker opposition, and then level lower and so on. Before you know it, there is nobody that opposes them (the only left are opportunist carcass and cowards) - and boom, there ya go - totalitarian state.

Do you think that totalitarian regimes are made in one day ? No, it is a slow process, exactly as the one that is happening now.

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October 24, 2011, 09:33:23 PM
 #168

Do you think that totalitarian regimes are made in one day ? No, it is a slow process, exactly as the one that is happening now.

Yeah there is a push for that, but as you said the process is slow and from the current outlook it could take a few more decades. I estimate that open source philosophy will have completely emerged itself withing society in the next two decades, possibly even faster. By then it will be too late for any corporatist entity to make any demands.

But I'm a optimistic guy when it comes to the preservation of freedom maybe I'm wrong...  Undecided

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
ShadowOfHarbringer
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October 24, 2011, 09:37:27 PM
 #169

Do you think that totalitarian regimes are made in one day ? No, it is a slow process, exactly as the one that is happening now.

Yeah there is a push for that, but as you said the process is slow and from the current outlook it could take a few more decades. I estimate that open source philosophy will have completely emerged itself withing society in the next two decades, possibly even faster. By then it will be too late for any corporatist entity to make any demands.

But I'm a optimistic guy when it comes to the preservation of freedom maybe I'm wrong...  Undecided

I hope you are right, however I am a pessimist or a realist. I hope it is the former, but i fear it is the latter.

mizike29
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October 25, 2011, 09:49:58 PM
 #170

Good lord what are we living in the days of the NAZIS.  THis is america people, not hard to find info on anyone, no ones using what you buy on newegg and amazon against you lol, Reading too many books and watching too many movies or something lol.  Ok, I understand it can happen, but christ we have grown as a country, if you live in the USA, theres a pretty damn good chance, like 99 percent, that its not going to effect your freedom or what happens to you in your lifetime.  We only live for about 60 to 70 years, something major would have to change for that to matter and at that point, bitcoin wouldnt matter or even be discussed, we would be facing much more important problems then buying something online lol.

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October 25, 2011, 10:00:14 PM
 #171

^^^ Because Bitcoin is only By America, For Americans... right?

DeathAndTaxes
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October 25, 2011, 10:07:57 PM
 #172

Good lord what are we living in the days of the NAZIS.  THis is america people, not hard to find info on anyone, no ones using what you buy on newegg and amazon against you lol, Reading too many books and watching too many movies or something lol.  Ok, I understand it can happen, but christ we have grown as a country, if you live in the USA, theres a pretty damn good chance, like 99 percent, that its not going to effect your freedom or what happens to you in your lifetime.  We only live for about 60 to 70 years, something major would have to change for that to matter and at that point, bitcoin wouldnt matter or even be discussed, we would be facing much more important problems then buying something online lol.

Likely some Germans said the very same thing circa 1930.  Is there something that makes Americans genetically superior to other nationalities?  That what has happened in other countries in the past 3 centuries is impossible in the United States.  If you think so then you are naive.

Your shortsightedness of thinking only for your generation is small.   What about your children's generation or their children.  Privacy is a human right.  It doesn't matter if the govt will use what I buy at newegg against me or not.  They simply have no right to that information.  Tools like Bitcoin put the power back with the people. 

Lastly as others have pointed out Bitcoin isn't just for America.  Try to limit the Amerocentrism just a little bit.  Bitcoin may be the most useful in emerging nations (which tend to have volatile currencies, and periods of rampant inflation) and totalitarian regimes (where privacy has a higher value and utility).
payb.tc
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October 25, 2011, 11:08:57 PM
 #173

THis is america people

funny, it doesn't look like america.

i looked out the window today and it looked a lot like brisbane, australia.
PatrickHarnett
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October 25, 2011, 11:33:26 PM
 #174

THis is america people

funny, it doesn't look like america.

i looked out the window today and it looked a lot like brisbane, australia.


Not america here either.  I wonder if people would like to remember Mcarthyism - it's still alive and well in the USA, and now has several high powered bits of legislation enshrining it (Patriot Act and the lovely department of homeland security).  If you haven't seen your local gestapo doing data matching on everything, then obviously you've never been on a plane.
Red
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October 26, 2011, 02:05:09 AM
 #175

i looked out the window today and it looked a lot like brisbane, australia.

Clearly that is a problem with your window. Have you considered taking it in for service?

Just to double check, PatrickHarnett and I looked out our windows. It seems highly unlikely that is brisbane, australia. There should be a river.
payb.tc
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October 26, 2011, 02:09:04 AM
 #176

i looked out the window today and it looked a lot like brisbane, australia.

Clearly that is a problem with your window. Have you considered taking it in for service?

Just to double check, PatrickHarnett and I looked out our windows. It seems highly unlikely that is brisbane, australia. There should be a river.

haha yeah and i should live in a big mansion next to said river, instead of in the poorer burbs.

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October 26, 2011, 02:02:20 PM
 #177

Good lord what are we living in the days of the NAZIS.  THis is america people, not hard to find info on anyone, no ones using what you buy on newegg and amazon against you lol, Reading too many books and watching too many movies or something lol.  Ok, I understand it can happen, but christ we have grown as a country, if you live in the USA, theres a pretty damn good chance, like 99 percent, that its not going to effect your freedom or what happens to you in your lifetime.  We only live for about 60 to 70 years, something major would have to change for that to matter and at that point, bitcoin wouldnt matter or even be discussed, we would be facing much more important problems then buying something online lol.
Hi, i live in EUROPE

This is NOT america

Bye
PatrickHarnett
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October 26, 2011, 07:52:19 PM
 #178

i looked out the window today and it looked a lot like brisbane, australia.

Clearly that is a problem with your window. Have you considered taking it in for service?

Just to double check, PatrickHarnett and I looked out our windows. It seems highly unlikely that is brisbane, australia. There should be a river.

The window isn't broken, maybe it just needs cleaning. 

Normally Australia isn't outside - haven't been there since August - but it was to Brisbane, and I didn't see the river.
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October 26, 2011, 11:21:09 PM
 #179

Good lord what are we living in the days of the NAZIS.  THis is america people, not hard to find info on anyone, no ones using what you buy on newegg and amazon against you lol, Reading too many books and watching too many movies or something lol.  Ok, I understand it can happen, but christ we have grown as a country, if you live in the USA, theres a pretty damn good chance, like 99 percent, that its not going to effect your freedom or what happens to you in your lifetime.  We only live for about 60 to 70 years, something major would have to change for that to matter and at that point, bitcoin wouldnt matter or even be discussed, we would be facing much more important problems then buying something online lol.

To compress so much fail into such a short piece of text is simply artful.
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October 27, 2011, 07:00:06 PM
 #180

Inflation is VERY BAD for BTC.

What makes you think BTC has an inflation problem?

Please don't tell me you think the decline from $30 to $2 USD was because of inflationary pressures?

In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.[1] When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a loss of real value in the internal medium of exchange and unit of account in the economy.[2][3] A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the Consumer Price Index) over time.[4]

http://en.wikipedia.org/wiki/Inflation

Only in the sense that each unit of currency buys fewer goods and services, and has an erosion in it's purchasing power.

So, not in the sense that BTC people like to here, only in the "scientific definition" sense.

You left this out "Economists generally agree that high rates of inflation and hyperinflation are caused by an excessive growth of the money supply."
Bitcoin will never suffer excessive growth in the money supply. Hence, no inflation.

Economists aren't generally agreeing about bitcoin.  Inflation is the loss of purchasing power per unit, period.  I know you are probably one of those "don't confuse me with the facts" people but 2 BTC bought a lot more two months ago, regardless of exchanging it for fiat.  That is called inflation.

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
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