Denial

[Etlase2]

they spent all those hard earned USD's and time in the form of hardware, electricity, labor, and innovation in verifying and securing all those early tx's that went on before the ramp in the Spring.

give me a break dude.

[cypherdoc]

they spent all those hard earned USD's and time in the form of hardware, electricity, labor, and innovation in verifying and securing all those early tx's that went on before the ramp in the Spring.

give me a break dude.

no way.  explain the fallacy in that argument.

[gewure]

I know why i'm still around, what about you?

It's in no one's interests to see a microcosm of groupthink develop on bitcoin.  This place is big enough for all opinions.  But maybe it is time to cool it a bit on the 'bitcoin is dead, hahaha!' posts, as they essentially serve no purpose.

sounds legit to me

[Crypt_Current]

I know why i'm still around, what about you?

It's in no one's interests to see a microcosm of groupthink develop on bitcoin.  This place is big enough for all opinions.  But maybe it is time to cool it a bit on the 'bitcoin is dead, hahaha!' posts, as they essentially serve no purpose.

sounds legit to me

+1

Maybe the purpose of influencing people to place more trust in traditional economic concepts institutions (i.e. banks)?
EEEwwwwwwwwwwwwwww...

[HorseRider]

An all time bear is as foolish and stupid as an all time bull.

Nagle is an all time bear.

[zby]

An all time bear is as foolish and stupid as an all time bull.

Nagle is an all time bear.

Nagle explained that he is interested in alternatives.  Honestly I am too, but for different reasons.

[anu]

It is written PLAIN AS DAY in how the bitcoin economy has progressed. Even if the scenario you propose were true, it is still Satoshi's fault for designing the currency this way. I mean fuck, can none of you add the pieces together? Inability to trace who controls what coins, completely buttfucking anonymous creator, creator has disappeared without a word of what his intentions are... and you just buy this shit up and assume he's doing it for the good of the world? How naive do you have to be?

Maybe Satoshi really planned Bitcoin as some sort of pyramid. So what? What matters is what Bitcoin is NOW.

Or maybe this is the work of skynet. Just instead of terminators it sends Bitcoin to destroy us 

[Vandroiy]

Or maybe this is the work of skynet. Just instead of terminators it sends Bitcoin to destroy us 

Skynet is too busy mining.

(...) What I would give for a successful alternative block chain that steals money from the pockets of the investors. I would hope they have their own forums as well, which is why I continue to pray.

A day will come when the chain of your dreams is a reality. Everything is possible.

Erm, a block chain that steals money from investors? I don't think your idea of a good system coincides with mine.

[zby]

Erm, a block chain that steals money from investors? I don't think your idea of a good system coincides with mine.

I didn't say it was a good system. I said I want one that is successful. Doesn't everyone who hates Bitcoin want a block chain with inflation? Isn't inflation theft from those holding the currency?

Actually there is inflation in Bitcoin already - maybe you mean that it is too small.  Anyway my contention has nothing to do with money supply but with the extravagant cost of maintaining the system, what I would like to see is a system that does not spend so much on electricity.  I don't think we can have a system like this before Bitcoin succeeds.

[gewure]

recent chart looks bullish to me

[Nagle]

Bitcoin/USD, last 5 days.

Not as upbeat as a one-day chart for October 29th.

We're seeing more volatility as the price declines. It takes less money now to move the market. Welcome to penny stock land.

[Etlase2]

Maybe Satoshi really planned Bitcoin as some sort of pyramid. So what? What matters is what Bitcoin is NOW.

What bitcoin is now is a tiny market that is manipulated by the drop of a hat. And may forever be so easily manipulated. As (if) bitcoin increases in popularity, it will become more and more well-known that a small number of people control a huge portion of the supply. I don't see a good long-term outlook on the health of that kind of economy. For all we know, satoshi or the early group of adopters have been manipulating the price the whole way. Sell and make a big profit, scare others, wait for the price to drop like it has, buy up with only a portion of the money gained from selling, wait for the price to rise again (and wait for the cries of "stability!" and "they probably sold through, it's safe now!") only to start the process all over. We can't know, and they sure as hell aren't saying.

This is a pipe dream as far as I'm concerned. For you and me both. I've heard people talk about alternative block chains since the dawn of the peak. All they do is talk... this and that. Smart people too, but no action. What I would give for a successful alternative block chain that steals money from the pockets of the investors. I would hope they have their own forums as well, which is why I continue to pray.

A day will come when the chain of your dreams is a reality. Everything is possible.

Steal money from the pockets of investors? Like bitcoin? I don't really get what you're saying there. If what you meant was to steal money from the pockets of people trying to manipulate the supply, then my proposal for encoin does address that by allowing the market to mint more coins as they are demanded. Any supply manipulation will be very short-lived, and will, in fact, cost them money. It is based much more around being a currency rather than a speculative or investment vehicle. Regardless of what you may think of me, the proposal could use more discussion and fleshing out, and interest so that I would be confident in moving forward. If everyone is perfectly happy with an easily manipulated coin, why would I waste more time than I already have in an alternative?

The talk needs to be talked before progress can be made. At least progress beyond a one or two line hackjob on the bitcoin source.

[anu]

Maybe Satoshi really planned Bitcoin as some sort of pyramid. So what? What matters is what Bitcoin is NOW.

What bitcoin is now is a tiny market that is manipulated by the drop of a hat. And may forever be so easily manipulated. As (if) bitcoin

Words are cheap. Where can I download Encoin?

[Etlase2]

Words are cheap. Where can I download Encoin?

Rome wasn't built in a day. I am not confident in my abilities as a programmer to write everything I would need. So I'm looking for help. Unless I try to raise interest, help isn't going to come. But at least I have started the process of putting my money where my mouth is.

[chriswilmer]

How come this thread has never been resurrected from the dead? It's very timely!

I'm still in denial. Anyone else? 

[ElectricMucus]

Nagle has quit contributing comedic value to the speculation forum. He was sighted a few times and if mtgox really goes belly up he might come back for a little while longer.

[Holliday]

Oh boy.

Nagle used to grate on my nerves. His latest posts aren't that bad though. Maybe it's because he is ragging on Gox instead of Bitcoin.

[podyx]

How come this thread has never been resurrected from the dead? It's very timely!

I'm still in denial. Anyone else? 

im very much in denial

[DrBitcoin]

True, I would hate it if MtGox would eat money I hold there as USD, but that would be heavy fraud. But otherwise, what's the point of your post? If I get out instead of buying, other people won't get that money for the coins. People who wanted to sell in the end, who weren't suited to take the risk from the start.

I am willing to lose money if Bitcoin fails, and I am aware there is a good chance that will happen. I see myself as a fundamental speculator and have accepted the fact that I have no exit strategy for any value held in BTC if Bitcoin dies.

Those who don't think like that should have quit a long time ago. They pay now, almost as much as I, but without the chance to make profit if Bitcoin succeeds. That's not speculation, it's burning money.

Reality is probabilistic. Live with it, you do not know for a fact that Bitcoin will die. If you disagree, I accept a 1:100 asymmetric bet in addition to my speculations here.

This is one of the most sensible and true posts that I have read on these boards. Nobody...I don't care if you are Warren Buffet or Jimmy Buffet...knows whether Bitcoin is going to go up, down, sideways or in fucking circles...least of all people on this board!

[chesthing]

I love seeing this post. This dumbass talked himself out of THE opportunity of our lifetimes. He sure sounds like Igor, bitcoinlitcoindicklick and Fonzie today doesn't he...