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Author Topic: Bitcoin is no Tulip  (Read 2723 times)
hazek
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January 06, 2012, 05:06:45 PM
 #21

If anyone has any doubts about what will happen with the dollar, you just need to watch this: http://www.youtube.com/watch?v=KURRO5mcHCw

That's an excerpt out of this speech/lecture: http://www.youtube.com/watch?v=EgMclXX5msc

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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BTConomist
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January 06, 2012, 05:16:01 PM
 #22

I think the time has come, where it is reasonable to suggest that Bitcoin was not the "purely speculative bubble asset" that many thought it was.

A raw bitcoin (freshly mined) is not an asset per se, but a set of empty rows in the General Ledger.
By selling your bitcoins to others you're selling them an exclusive right to use those rows to record various transactions.
Only bitcoins that are supported by the actual transactions can be called an asset (the value of which is the value of transactions).

Recent hikes in the price of raw bitcoins are merely the Smart Money attempt to once again capitalize on the unsuspecting bitcoin fans.

Bitcoins are earned, not traded! If you plan on hoarding BTC, you're on my target list. (And yes, it is possible to swim in BTC.)

Don't give me that Bull... I'm one of those honey eating Bears that the bees hope to never meet again... Viva la BTC!!!
Piper67
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January 06, 2012, 05:49:10 PM
 #23

I think the time has come, where it is reasonable to suggest that Bitcoin was not the "purely speculative bubble asset" that many thought it was.

A raw bitcoin (freshly mined) is not an asset per se, but a set of empty rows in the General Ledger.
By selling your bitcoins to others you're selling them an exclusive right to use those rows to record various transactions.
Only bitcoins that are supported by the actual transactions can be called an asset (the value of which is the value of transactions).

Recent hikes in the price of raw bitcoins are merely the Smart Money attempt to once again capitalize on the unsuspecting bitcoin fans.

Oh, come on. The "inherent value" argument in another guise. Nothing is an asset per se. NOTHING has inherent value of any kind. Inherent Value is a contradiction in terms, since value is always assigned.

There is no value without he (or she) doing the valuing.

One newly minted BTC is an asset, inasmuch as someone out there is going to assign value to the possibility of transacting it.

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January 06, 2012, 06:41:18 PM
 #24


A raw bitcoin (freshly mined) is not an asset per se, but a set of empty rows in the General Ledger.
By selling your bitcoins to others you're selling them an exclusive right to use those rows to record various transactions.
Only bitcoins that are supported by the actual transactions can be called an asset (the value of which is the value of transactions).

Recent hikes in the price of raw bitcoins are merely the Smart Money attempt to once again capitalize on the unsuspecting bitcoin fans.

NOTHING has inherent value of any kind. Inherent Value is a contradiction in terms, since value is always assigned.


True, the value must first be assigned in order for something 'with no inherent value' to be called an asset.

In the case of bitcoins supported by the actual transactions, that value is assigned by the value of those transactions.

However, in the case of raw bitcoins (those traded on MtGox, etc), that value is merely proposed (not assigned).

Bitcoins are earned, not traded! If you plan on hoarding BTC, you're on my target list. (And yes, it is possible to swim in BTC.)

Don't give me that Bull... I'm one of those honey eating Bears that the bees hope to never meet again... Viva la BTC!!!
Piper67
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January 06, 2012, 06:49:38 PM
 #25


A raw bitcoin (freshly mined) is not an asset per se, but a set of empty rows in the General Ledger.
By selling your bitcoins to others you're selling them an exclusive right to use those rows to record various transactions.
Only bitcoins that are supported by the actual transactions can be called an asset (the value of which is the value of transactions).

Recent hikes in the price of raw bitcoins are merely the Smart Money attempt to once again capitalize on the unsuspecting bitcoin fans.

NOTHING has inherent value of any kind. Inherent Value is a contradiction in terms, since value is always assigned.


True, the value must first be assigned in order for something 'with no inherent value' to be called an asset.

In the case of bitcoins supported by the actual transactions, that value is assigned by the value of those transactions.

However, in the case of raw bitcoins (those traded on MtGox, etc), that value is merely proposed (not assigned).

Heh. Potato, potato... you can assign value to the proposal itself. I'll happily take all the newly minted BTC you or anyone else might have, for free!  Grin
Elwar
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January 06, 2012, 07:39:21 PM
 #26

or Beanie Babies in the 90's, are two popular examples.

What is this "Beanie Babies" you speak of and where can I get many???

I will pay top dollar!

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
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January 06, 2012, 07:49:29 PM
 #27

or Beanie Babies in the 90's, are two popular examples.

What is this "Beanie Babies" you speak of and where can I get many???

I will pay top dollar!

I remember people used to line up for them!


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Dansker
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January 06, 2012, 07:53:40 PM
 #28

Also, all the people whining about early adopters have had their chance now, to purchase coins when they cost near nothing.

And I hope the big players selling out means that the coins have been distributed to a larger amount of owner. Bigger spread on wealth makes for a more healthy economy imo.

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