Final Warning for Long-term holders...

[maok]

holocaust and civilization is rebuilt, gold will still be here and will still have value.

Really ? I would think that the few people that survive the holocaust will rather barter things and gold will hold no value in their eyes at least not until the civilization grows back to a certain level when gold will again prove useful in semiconductor manufacturing. As for currency I think if the surviving people are smart and find a laptop/pc with all the blockchain and with wireless capabilities they'll rather choose bitcoin over gold as the power won't be held by a certain few people but by universal math enclosed in the bitcoin protocol.

[boumalo]

The idea behind intrinsic value is a joke to make fun of the masses. 

It reminds me of the discussion between Peter Schiff and Molyneux : https://www.youtube.com/watch?v=p3v_7iHtyQk

Fiat currency has been invented to fix the economy to profit the mens in power, the big banks and fund wars

[TooDumbForBitcoin]

I decided to write .....pure .... literature.

Well said, but Sroudhon of Tarsus would have loved the OP. 

[Peter R]

I don't hate you jr65, I just don't believe your magical.  I have been reading about bitcoins imminent collapse for years now.
"Bitcoin will NEVER reach $1. It's impossible and here is a chart I made to prove it!"
"Bitcoin can't reach $10, it has no intrinsic value!"
I think your forgetting that value is an illusion created by humans. Gold is just a shinny rock and the money in your pocket is just fancy paper. They derive their value from a common belief in their value. As long as I have another person to trade with bitcoin will survive in my economy.

Gold has the first mover advantage of being a currency that has been accepted all over the world in every country and civilization for thousands of years. People trust gold because it has proven itself over the test of time to hold its value for thousands of years. Bitcoin has been around for, what... 5 years? Even after bitcoin is gone/broken, the internet is gone, or the world as we know it has been wiped out by nuclear holocaust and civilization is rebuilt, gold will still be here and will still have value.

I agree with you. Which is why I also own gold. And even though the internet will be gone one day, I invest in tech start-ups and bitcoin to profit while I can. I mean, even gold will be valueless when we humans are gone. Which we will be eventually.  

The idea behind bitcoin is too powerful to ever die.  Even in TEOTWAWKI situations, a portion of our infrastructure will remain.  If people are incentivized to maintain this infrastructure, it will be maintained.  Bitcoin itself provides this economic incentive, even if no one cares about webpages any longer.  

The current bitcoin nework of nodes, miners and source code is like a living animal.  It tries to grow and thrive; yet like all animals, its life is always at risk.  But the death of one animal does not mean the death of a species: bitcoin's DNA will live on, mutate, and give birth to new stronger cryptocurrency animals.  Part of this DNA is the blockchain ledger.  So your private keys work on the new animal too.  Perhaps consensus will change the inflation rate, mining scheme, or try to redistribute coins more "fairly," but for the new animal to thrive, the private key holders must believe the new ledger to be legitimate.  And the best way to ensure the legitimacy of the new ledger is to use the exact ledger that was already accepted as legitimate.

To me, bitcoin is more powerful than gold.  Bitcoin is an idea whose time has come.  

[Jr65]

Who me...Cosmo? Cosmo Kramer? What if I said, "ya got me?"

[dropt]

Who me...Cosmo? Cosmo Kramer? What if I said, "ya got me?"

We'd know it's a lie since you've already established yourself as a liar.  Liar.

[Jr65]

No.

[dropt]

No.

Yes.

[honorem]

This was so hard to read..... And he's sooo wrong btc wil go to tha moon!!!!!! 

[Jr65]

This is f'in hilarious! (PC Article, April 23, 2014) "Dorian Satoshi Nakamoto Thanks Users For 23k Donation, Denies Being Bitcoin Creator." "Newsweek Freakin' Magazine" says that this guy created BTC. This kind soul is being described as "cash-strapped!" BTC's creator is dead broke! What a brilliant man. Nobel Prize to follow for "cash-strapped" BTC creator. Harbinger much?

[Bit_Happy]

This is f'in hilarious! (PC Article, April 23, 2014) "Dorian Satoshi Nakamoto Thanks Users For 23k Donation, Denies Being Bitcoin Creator." "Newsweek Freakin' Magazine" says that this guy created BTC. This kind soul is being described as "cash-strapped!" BTC's creator is dead broke! What a brilliant man. Nobel Prize to follow for "cash-strapped" BTC creator. Harbinger much?

Did you consider Dorian might not have created BTC?
The donations for him are a strongly positive story, didn't you notice?

[Jr65]

"Mt. Gox's 200,000 coins, and first rights of refusal for the ones found in Bankruptcy Court, going once, going twice, sold to the U.K./Russian investors of the left, partnering with A.H. on the left!"

 

[bitcoinsrus]

"Mt. Gox's 200,000 coins, and first rights of refusal for the ones found in Bankruptcy Court, going once, going twice, sold to the U.K./Russian investors of the left, partnering with A.H. on the left!"

 

That does explain the $10 dollar dip (from yesterday) we are currently experiencing  

[maok]

"Mt. Gox's 200,000 coins, and first rights of refusal for the ones found in Bankruptcy Court, going once, going twice, sold to the U.K./Russian investors of the left, partnering with A.H. on the left!"

If the story was about 5 million coins then we would've taken it seriously, but 200K is lame and again if you think bitcoin price is going down just sell yours already and free yourself of this imminent threat of which you feel the need to warn us every day

[Jr65]

Sorry but Dorian did create BTC. He is suing every solvent BTC exchange for treble damages. If Mt. Gox doesn't flush you, Dorian will. Actually, Dorian is too late. True story.


 

[cbeast]

The train has slowed down for the few stragglers to run and jump aboard. Don't say we didn't try!

[Jr65]

I'm not sure what you mean. Is the train running toward BTC or away from it? Is it going to Tokyo or Texas? Can Dorian ride with us? If so, can he pay for his ticket over time? He's a little "cash-strapped" right now.

Is the train going "to da moon?" I've come to love that phrase. Let's join Enron's shareholders on "da moon." Let's have a pity party in two years on "da moon." Can we pay Buzz Aldrin in BTC to lecture us on "da moon?"

[Cassius]

Sorry but Dorian did create BTC. He is suing every solvent BTC exchange for treble damages. If Mt. Gox doesn't flush you, Dorian will. Actually, Dorian is too late. True story.

Claiming this is even dumber than claiming Andressen is leaving Bitcoin behind, and that's saying something.
Time to add you to the ignorr list with igorr and your other id, cosmofly.

[cbeast]

I'm not sure what you mean. Is the train running toward BTC or away from it? Is it going to Tokyo or Texas? Can Dorian ride with us? If so, can he pay for his ticket over time? He's a little "cash-strapped" right now.

Is the train going "to da moon?" I've come to love that phrase. Let's join Enron's shareholders on "da moon." Let's have a pity party in two years on "da moon." Can we pay Buzz Aldrin in BTC to lecture us on "da moon?"

If you want that train, you'll need to talk with Ozzy Osborne.

[Bit_Happy]

Sorry but Dorian did create BTC. He is suing every solvent BTC exchange for treble damages. If Mt. Gox doesn't flush you, Dorian will. Actually, Dorian is too late. True story.

You think Dorian is suing BTC exchanges?
Oh my: Can you please provide a credible link for evidence?