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Author Topic: The problem with Bitcoin is  (Read 4281 times)
shengdubgzkg277
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June 10, 2014, 04:32:33 AM
 #81

I'm loving all the sarcasm in this post

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boumalo
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June 10, 2014, 07:27:48 AM
 #82

The problem with Bitcoin is no matter how long I stare at this damn forum, the price never goes up to where I feel like a member of the wealthy elite.


 Angry

Patience, give it a few years

Zyborg
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June 10, 2014, 04:31:20 PM
 #83

The problem with Bitcoin is no matter how long I stare at this damn forum, the price never goes up to where I feel like a member of the wealthy elite.


 Angry

Patience, give it a few years
Looks like someone was hoping Bitcoin was a get rich quick scheme.
JonBosco
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June 10, 2014, 04:44:27 PM
 #84

The problem with Bitcoin is no matter how long I stare at this damn forum, the price never goes up to where I feel like a member of the wealthy elite.


 Angry

Patience, give it a few years
Looks like someone was hoping Bitcoin was a get rich quick scheme.

Nope. It was a joke in light of this post.

Though, I'm pretty confident I'm not the only one who's a little anxious after many months of hodling. I am prepared to go YEARS but I reserve the right to make light of the situation.
devphp
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June 10, 2014, 04:50:12 PM
 #85

Bitcoin is way overpriced for what it can do. There are better and cheaper technologies.
foggyb
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June 10, 2014, 04:57:36 PM
 #86

Bitcoin is way overpriced for what it can do. There are better and cheaper technologies.

What are you smoking?

Bitcoin is free to use for everyone. The client is free & open source, its the cheapest way to move any amount to anyone anywhere. There is nothing 'better and cheaper'.

The trading price is irrelevant, as long as its valuation is high enough to facilitate what people want to do with it.
devphp
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June 10, 2014, 05:10:36 PM
 #87

There is nothing 'better and cheaper'.

Yes, there is.
Certainly better. And so much cheaper, which in investors' minds translates to undervalued. A seasoned investor like a hungry wolf is looking for undervalued technologies.

Here is what a seasoned investor thinks like:

There is a technology A and technology B.

Technology A is limited to 1-2 functions.
Technology B can perform 4-5 functions including those Technology A can do and promises to deliver even more in the near future.

Technology A is 100x more expensive to invest in than Technology B.

The choice is obvious. There is a contrarian approach in investing - investing in what masses don't invest in. Investing in Bitcoin was contrarian investing in 2011-2013. But it's now got to the point where investing into Bitcoin is no longer contrarian investing. It's become mainstream for private investors who are technologically savvy, they are looking for more advanced and undervalued technologies.

Bitcoin is Technology A.
NXT is Technology B.

Technologically unsavvy investors will either: a) never invest into cryptos (which is most likely) or b) skip right to Technology B or C, should Technology C appear on the horizon.
jonald_fyookball
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June 10, 2014, 05:23:20 PM
 #88

oh man... this again... NXT has basically 0 adoption, and has all the problems
that proof-of-stake coins have.

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June 10, 2014, 05:27:51 PM
 #89

oh man... this again... NXT has basically 0 adoption, and has all the problems
that proof-of-stake coins have.

I am sorry, if this may sound rude, but you should get out from under your rock more often and educate yourself, but not with myths touted by Bitcoin early adopters with miners mentality. However, I am still not sure whether open-mindedness is a natural gift or something that a human can develop over the course of life, I forgot how I got mine.
jonald_fyookball
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Core dev leaves me neg feedback #abuse #political


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June 10, 2014, 06:08:16 PM
 #90

No offense taken, although I'm not
really interested in a debate here.

I have looked into proof of stake
and participated in some of the
discussions in the technical area
of the forum and for now, I think
there are unsolved security issues with that
whole approach.   

That's just my opinion.  I'll try to remain
open minded, thanks for the suggestion.

spazzdla
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June 10, 2014, 06:10:26 PM
 #91

This is suppose to be a fun thread!

Be nice!
Zyborg
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June 11, 2014, 12:07:21 AM
 #92

Bitcoin is way overpriced for what it can do. There are better and cheaper technologies.
How is it overpriced? That's like saying "650 USD is overpriced". Huh
nwfella
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June 11, 2014, 12:47:27 AM
 #93

End the fed!!  Bitcoin still in it's infancy.  Even the Fed took at least 10 years to make the USD the worlds reserve currency!  I for one am sick and tired of seeing these central bankers getting away with outright theft!  Will be quite interesting to see where bitcoin is priced at if it's still around 5 years from now Smiley

*I have a sneaking suspicion there will be those looking back on these threads laughing at those of us that actually thought $650 was to much to pay for 1 whole bitcoin.

BTC: 13sc5M4Y5Ufs1zeSihPS5U1Biscb9RFk6w
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ETH/0x: 0xF0CA51114aaAC484dF1e7A2425fEb58130812E4c
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foggyb
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June 11, 2014, 02:18:39 AM
 #94


Bitcoin is Technology A.
NXT is Technology B.


If NXT succeeds, you'll be a very rich man. Or... just a bag-holder.

Either way, your theories about economics are more wishes and hopes than theory.

Good luck.
ShakyhandsBTCer
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It's Money 2.0| It’s gold for nerds | It's Bitcoin


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June 12, 2014, 11:51:08 PM
 #95

The huge number of scammers and theives.   But this could also be said about anything that has to do with money.

The amount of possible consumer protection related products possible with bitcoin are very limited.
bananaeater
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June 13, 2014, 11:01:22 AM
 #96

Bitcoin will make the world a better place  Roll Eyes
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