Warning: How many of you Bears have ever been a victim of a Short Squeeze?

[faiza1990]

I don't know about that.  With a flurry of news articles on the horizon about the end of bitcoin I think we'll see another frenzy of dumping which could take bitcoin to levels

lol, just buy back dude...

+1

A flurry of news articles does nothing but bring new people in.  It doesn't matter if it is positive news or negative news.  At this stage news -> curiosity.  And when the curious do some research, the smart ones see the beauty and buy.

100% agree. There is a positive correlation of ANY news, "positive" or "negative" with bitcoin prices.

agree

[ElectricMucus]

Warning:  How many of you pigs have ever been a victim of a Capitulation?

[tvbcof]

Warning:  How many of you pigs have ever been a victim of a Capitulation?

I was 'victimized' badly through the 2nd half of 2011.  I kept doubling down and losing money for months.  Man alive was I in the red.  But I never sold until earlier this year since I would not have purchased in the first place if I were just going to dump the things without a significant gain.  My speculation was based on value theory and I've not yet deviated from it.  I also assumed a total loss for everything I put in so I was never under any selling pressure either financially or psychologically.

[ElectricMucus]

Warning:  How many of you pigs have ever been a victim of a Capitulation?

I was 'victimized' badly through the 2nd half of 2011.  I kept doubling down and losing money for months.  Man alive was I in the red.  But I never sold until earlier this year since I would not have purchased in the first place if I were just going to dump the things without a significant gain.  My speculation was based on value theory and I've not yet deviated from it.  I also assumed a total loss for everything I put in so I was never under any selling pressure either financially or psychologically.

How do you consider yourself a pig? You took your profits and made money, that's the behavior of a typical bull.

[tvbcof]

Warning:  How many of you pigs have ever been a victim of a Capitulation?

I was 'victimized' badly through the 2nd half of 2011.  I kept doubling down and losing money for months.  Man alive was I in the red.  But I never sold until earlier this year since I would not have purchased in the first place if I were just going to dump the things without a significant gain.  My speculation was based on value theory and I've not yet deviated from it.  I also assumed a total loss for everything I put in so I was never under any selling pressure either financially or psychologically.

How do you consider yourself a pig? You took your profits and made money, that's the behavior of a typical bull.

I've only barely begun to actually take profits, and lord-a-mercy but it's a hassle.  My plan is to use my non-fiat holdings to keep my fiat balances at a certain level as I buy shit.  Even though I have always seen Bitcoin as highly risky, I see having a bunch of money in the banking system as even more risky and have for more than a decade.  I would not have guessed that the US would not have done a Cyprus by 2013 when I was first getting paranoid (and making money) in 2002.  But every day brings us that much closer to 'the event', and the flames are already starting to blacken a few of the unfortunate souls at the periphery (e.g., Detroit pensioners.)

I want to maximize my own intake like just about any other living creature.  So in that sense I'm 'a pig'.  Most of what I've done with Bitcoin is donate it to causes I believe in and some of them don't directly effect my well-being in proportion to the funds I have given.  In that sense I am not 'a pig' I guess.  Having been around at lower values has conspired to make me more generous than I ultimately wished to be.

[S3052]

Warning:  How many of you pigs have ever been a victim of a Capitulation?

I was 'victimized' badly through the 2nd half of 2011.  I kept doubling down and losing money for months.  Man alive was I in the red.  But I never sold until earlier this year since I would not have purchased in the first place if I were just going to dump the things without a significant gain.  My speculation was based on value theory and I've not yet deviated from it.  I also assumed a total loss for everything I put in so I was never under any selling pressure either financially or psychologically.

How do you consider yourself a pig? You took your profits and made money, that's the behavior of a typical bull.

I've only barely begun to actually take profits, and lord-a-mercy but it's a hassle.  My plan is to use my non-fiat holdings to keep my fiat balances at a certain level as I buy shit.  Even though I have always seen Bitcoin as highly risky, I see having a bunch of money in the banking system as even more risky and have for more than a decade.  I would not have guessed that the US would not have done a Cyprus by 2013 when I was first getting paranoid (and making money) in 2002.  But every day brings us that much closer to 'the event', and the flames are already starting to blacken a few of the unfortunate souls at the periphery (e.g., Detroit pensioners.)

I want to maximize my own intake like just about any other living creature.  So in that sense I'm 'a pig'.  Most of what I've done with Bitcoin is donate it to causes I believe in and some of them don't directly effect my well-being in proportion to the funds I have given.  In that sense I am not 'a pig' I guess.  Having been around at lower values has conspired to make me more generous than I ultimately wished to be.

+1000

[ElectricMucus]

Like it or not, every cyprus-like event extents the longevity of the system exponentially. It reduces the deteriorating effects of compounding interest to the point of negligibility.
This is why Bitcoin will never replace the status quo and there is nothing you can do about it.

[User705]

Like it or not, every cyprus-like event extents the longevity of the system exponentially. It reduces the deteriorating effects of compounding interest to the point of negligibility.
This is why Bitcoin will never replace the status quo and there is nothing you can do about it.

It likely never will but it doesn't need to replace the status quo either.  It needs to retain value and nothing on the horizon is showing a change in that for now.

[ElectricMucus]

Like it or not, every cyprus-like event extents the longevity of the system exponentially. It reduces the deteriorating effects of compounding interest to the point of negligibility.
This is why Bitcoin will never replace the status quo and there is nothing you can do about it.

It likely never will but it doesn't need to replace the status quo either.  It needs to retain value and nothing on the horizon is showing a change in that for now.

Most of this value retaining properties come from the false promise of being able to replace the system with itself. This is why ultimately when it comes down to it it's a scam, not because of it's ponzi like properties but because of the deception encoded into the genesis block. Yes I am attacking the golden goose.

[Odalv]

Like it or not, every cyprus-like event extents the longevity of the system exponentially. It reduces the deteriorating effects of compounding interest to the point of negligibility.
This is why Bitcoin will never replace the status quo and there is nothing you can do about it.

It likely never will but it doesn't need to replace the status quo either.  It needs to retain value and nothing on the horizon is showing a change in that for now.

Most of this value retaining properties come from the false promise of being able to replace the system with itself. This is why ultimately when it comes down to it it's a scam, not because of it's ponzi like properties but because of the deception encoded into the genesis block. Yes I am attacking the golden goose.

What is "the deception encoded into the genesis block" ?

[ElectricMucus]

Like it or not, every cyprus-like event extents the longevity of the system exponentially. It reduces the deteriorating effects of compounding interest to the point of negligibility.
This is why Bitcoin will never replace the status quo and there is nothing you can do about it.

It likely never will but it doesn't need to replace the status quo either.  It needs to retain value and nothing on the horizon is showing a change in that for now.

Most of this value retaining properties come from the false promise of being able to replace the system with itself. This is why ultimately when it comes down to it it's a scam, not because of it's ponzi like properties but because of the deception encoded into the genesis block. Yes I am attacking the golden goose.

What is "the deception encoded into the genesis block" ?

Something about Greece and bank bailouts. In a sense Satoshi promised to solve the problems associated with that, he does not.

[Spaceman_Spiff]

Most of this value retaining properties come from the false promise of being able to replace the system with itself. This is why ultimately when it comes down to it it's a scam, not because of it's ponzi like properties but because of the deception encoded into the genesis block. Yes I am attacking the golden goose.

You keep insisting it's a scam.  I don't get it.

[Odalv]

Like it or not, every cyprus-like event extents the longevity of the system exponentially. It reduces the deteriorating effects of compounding interest to the point of negligibility.
This is why Bitcoin will never replace the status quo and there is nothing you can do about it.

It likely never will but it doesn't need to replace the status quo either.  It needs to retain value and nothing on the horizon is showing a change in that for now.

Most of this value retaining properties come from the false promise of being able to replace the system with itself. This is why ultimately when it comes down to it it's a scam, not because of it's ponzi like properties but because of the deception encoded into the genesis block. Yes I am attacking the golden goose.

What is "the deception encoded into the genesis block" ?

Something about Greece and bank bailouts. In a sense Satoshi promised to solve the problems associated with that, he does not.

Really ? this is in genesis block ? What is your source ?

[Spaceman_Spiff]

Something about Greece and bank bailouts. In a sense Satoshi promised to solve the problems associated with that, he does not.

Really ? this is in genesis block ? What is your source ?

Yeah, it's something like 'the times: chancellor on brink of second bank bailout'.  Look it up.

[Akka]

Really ? this is in genesis block ? What is your source ?

The coinbase parameter contains, along with the normal data, the following text:

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

https://en.bitcoin.it/wiki/Genesis_block


Can this be laid out as a promise of replacement. I don't think so. A alternative, yes and IMO chances are good Bitcoin gets there.

[Odalv]

Really ? this is in genesis block ? What is your source ?

The coinbase parameter contains, along with the normal data, the following text:

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

https://en.bitcoin.it/wiki/Genesis_block


Can this be laid out as a promise of replacement. I don't think so. A alternative, yes and IMO chances are good Bitcoin gets there.

Thank you :-) I did not know.

This was probably intended as proof that the block was created on or after January 3rd, 2009, as well as a comment on the instability caused by fractional-reserve banking.

[cypherdoc]

Most of this value retaining properties come from the false promise of being able to replace the system with itself. This is why ultimately when it comes down to it it's a scam, not because of it's ponzi like properties but because of the deception encoded into the genesis block. Yes I am attacking the golden goose.

You keep insisting it's a scam.  I don't get it.

he's been insisting on this for years now.  all that time wasted here on the forum.

proudhon finally gave up.  EM will too one day.

[User705]

Like it or not, every cyprus-like event extents the longevity of the system exponentially. It reduces the deteriorating effects of compounding interest to the point of negligibility.
This is why Bitcoin will never replace the status quo and there is nothing you can do about it.

It likely never will but it doesn't need to replace the status quo either.  It needs to retain value and nothing on the horizon is showing a change in that for now.

Most of this value retaining properties come from the false promise of being able to replace the system with itself. This is why ultimately when it comes down to it it's a scam, not because of it's ponzi like properties but because of the deception encoded into the genesis block. Yes I am attacking the golden goose.

What is "the deception encoded into the genesis block" ?

Something about Greece and bank bailouts. In a sense Satoshi promised to solve the problems associated with that, he does not.

Even if he/she promised something that's pretty irrelevant to real life.  People will use bitcoin until it won't be useful.  That's it.  There is no grand shangri la promise here.  Life generally repeats itself in waves.  Some people rule others until it is no longer possible and then it changes.  Money systems come and go.  I'm pretty sure bitcoin will prove no different but how long will it be utilized for no one knows.

[Odalv]

This was probably intended as proof that the block was created on or after January 3rd, 2009, as well as a comment on the instability caused by fractional-reserve banking.

@EM, do you understand ? He did not pre-mine coins before "January 3rd, 2009"

[User705]

This was probably intended as proof that the block was created on or after January 3rd, 2009, as well as a comment on the instability caused by fractional-reserve banking.

@EM, do you understand ? He did not pre-mine coins before "January 3rd, 2009"

That's irrelevant to bitcoins value proposition even if he did.