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Question: (read first post) I will:
Keep my bitcoins, no matter what price. Satoshi is my god. - 109 (64.1%)
I will quickly exchange (almost) all for another crypto - 19 (11.2%)
I will quickly exchange (almost) all to gold or silver - 9 (5.3%)
I will quickly exchange (almost) all to FIAT - 22 (12.9%)
I will quickly spend (almost) all on goods. - 11 (6.5%)
Total Voters: 170

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Author Topic: POLL: How die hard are you?  (Read 4554 times)
beetcoin
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June 05, 2014, 01:17:39 AM
 #61

so far almost 70% of the people who voted would hold their coins, even if it were under a 51%+ attack. i think i'm calling bullshit. the truth is that people care about their own wealth more than they do the development of bitcoin. not that there's anything wrong with that.
The nice thing about open source communities is the human connections and communication. No social technologies are flawless where people are concerned. While Bitcoin is mostly a trustless system, it is not completely independent from the trusted people that work hard to continuously improve its service. With Bitcoin, you are not investing in a corporation owned by nameless stockholders, you are investing in a  revolution whose stockholders are the people that believe that the smartest people can outsmart greedy people. Even if greedy people think they can outsmart some of us, smart people tend to stick together and do what is right for the greater good.

the problem is that you can steal millions of dollars worth before stepping foot outside your doorstep. and it's much harder to track down an internet thief than it is someone who actually puts themselves on the line. i do hope the honest people can win out against the scammers, but the scammers have a pretty big advantage in their hit-and-run schemes.
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Let's talk governance, lipstick, and pigs.


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June 05, 2014, 01:40:02 AM
 #62

so far almost 70% of the people who voted would hold their coins, even if it were under a 51%+ attack. i think i'm calling bullshit. the truth is that people care about their own wealth more than they do the development of bitcoin. not that there's anything wrong with that.
The nice thing about open source communities is the human connections and communication. No social technologies are flawless where people are concerned. While Bitcoin is mostly a trustless system, it is not completely independent from the trusted people that work hard to continuously improve its service. With Bitcoin, you are not investing in a corporation owned by nameless stockholders, you are investing in a  revolution whose stockholders are the people that believe that the smartest people can outsmart greedy people. Even if greedy people think they can outsmart some of us, smart people tend to stick together and do what is right for the greater good.

the problem is that you can steal millions of dollars worth before stepping foot outside your doorstep. and it's much harder to track down an internet thief than it is someone who actually puts themselves on the line. i do hope the honest people can win out against the scammers, but the scammers have a pretty big advantage in their hit-and-run schemes.
Yeah, trillions are stolen in fiat. Bitcoin isn't quite so easy unless you give your bitcoins to someone first. Read about the 51% attack here. It's not really a problem.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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June 06, 2014, 04:02:38 AM
 #63


The first criterion would make me nervous, from my limited knowledge, not enough to liquidate.

The second one would make me want to hold and use my coin even more! BTC is attractive to me specifically because it is a currency system that provides freedom which fiat does not.

If Satoshi dies I will cry in  my pillow, and then (figuratively) roll around in my bitcoins until I feel better (but not sell them).


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Beliathon
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https://youtu.be/PZm8TTLR2NU


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June 06, 2014, 11:22:45 AM
 #64


Is also banned by the US, Russian, EU and China government by threat of 30 years jail time.
Look the process is in the making:
http://www.theguardian.com/technology/2014/jun/04/life-sentence-cybercrime-queens-speech




Life sentences for non violent crimes?  Shocked

I hate the ddos people and hackers in general as much as everyone else but wow.
bitcoin people will be declared hackers because:

The law would have a maximum sentence of 14 years for attacks that create "a significant risk of severe economic or environmental damage or social disruption".
Cool story.

"When injustice becomes law, resistance becomes duty".
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Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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June 06, 2014, 03:17:00 PM
 #65

Ok, let's assume that the following scenario is actually possible, I would like to know how you feel when all these thing happen at the same time:

Bitcoin is under a 66% attack (double spends are happening)
Is also banned by the US, Russian, EU and China government by threat of 30 years jail time.
The real satoshi (proven by something) is found dead, killed.
Uh, you mean 51% attack?
No actually 66,6% attack
Whats the difference between a 51% attack and 66.6% attack?

15,6%
I'm not sure why but that really made me laugh. Thanks.
coindozer7
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June 06, 2014, 04:10:34 PM
 #66

Definitely the first choice!
Why exchange to fiat, gold, or other goods?
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June 07, 2014, 11:20:08 AM
 #67

Ok, let's assume that the following scenario is actually possible, I would like to know how you feel when all these thing happen at the same time:

Bitcoin is under a 66% attack (double spends are happening)
Is also banned by the US, Russian, EU and China government by threat of 30 years jail time.
The real satoshi (proven by something) is found dead, killed.
Uh, you mean 51% attack?
No actually 66,6% attack
Whats the difference between a 51% attack and 66.6% attack?

15,6%
I'm not sure why but that really made me laugh. Thanks.
You're welcome. I thought it was pretty hilarious as well  Grin
I was LMAO when I gave the 15,6 answer.

1FdwDuV2qgsw2w1Lza8nsea7L6mQxsc7g3
DolanDuck
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June 07, 2014, 12:27:41 PM
 #68

There are lot of holders in the forum (I'm one of them),I think it's the most safe and easy choice.

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Cryptopher
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Keep it dense, yeah?


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June 07, 2014, 01:17:33 PM
 #69

I have a habit of switching to fiat, but I seem to be pretty terrible at trading so I don't know why I bother. I'm not at a loss yet but I would have been at a significant gain had of followed my instincts.

A friend of mine insists on holding, he can freely afford to hold as he got in cheap.

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June 07, 2014, 02:05:34 PM
 #70

There are lot of holders in the forum (I'm one of them),I think it's the most safe and easy choice.

May be.  Grin

But there are also a lot of people like me as well.

I had close to BTC50 with me a year ago. Lost 80% of that in BTCT.co. Then converted 75% of the remaining coins to fiat.

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June 07, 2014, 02:59:44 PM
 #71

so far almost 70% of the people who voted would hold their coins, even if it were under a 51%+ attack. i think i'm calling bullshit. the truth is that people care about their own wealth more than they do the development of bitcoin. not that there's anything wrong with that.
The nice thing about open source communities is the human connections and communication. No social technologies are flawless where people are concerned. While Bitcoin is mostly a trustless system, it is not completely independent from the trusted people that work hard to continuously improve its service. With Bitcoin, you are not investing in a corporation owned by nameless stockholders, you are investing in a  revolution whose stockholders are the people that believe that the smartest people can outsmart greedy people. Even if greedy people think they can outsmart some of us, smart people tend to stick together and do what is right for the greater good.

the problem is that you can steal millions of dollars worth before stepping foot outside your doorstep. and it's much harder to track down an internet thief than it is someone who actually puts themselves on the line. i do hope the honest people can win out against the scammers, but the scammers have a pretty big advantage in their hit-and-run schemes.

I think this is just because Bitcoin is a fledgling economy, once people start figuring out who the trustworthy people are and who are the scammers we'll see a lot of prosperity, it is a lot trickier on the internet but businesses that operate in person are clearly having a much easier time.

Also OP, your poll sucks Tongue I would exchange a percentage of my Bitcoins for gold and silver, then I'd save, buy other altcoins or spend the actual Bitcoins on Bitcoin accepting stores, first thing I want to do when I make enough money is get a new computer through scan.co.uk Cheesy
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June 11, 2014, 10:11:44 PM
 #72

I have a habit of switching to fiat, but I seem to be pretty terrible at trading so I don't know why I bother. I'm not at a loss yet but I would have been at a significant gain had of followed my instincts.

A friend of mine insists on holding, he can freely afford to hold as he got in cheap.
You'll never go broke taking a profit. Greed is what tanks most investors. In the end it is not how much could you have potentially made (if you play that game you can make a fortune and still be miserable) but how much did you make. Anything to the plus is a win.

Buy some whenever it tanks, sell some during rallies (the standard buy low, sell high.) Never hurts to take a profit.
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June 11, 2014, 10:16:33 PM
 #73


You'll never go broke taking a profit. Greed is what tanks most investors. In the end it is not how much could you have potentially made (if you play that game you can make a fortune and still be miserable) but how much did you make. Anything to the plus is a win.

Buy some whenever it tanks, sell some during rallies (the standard buy low, sell high.) Never hurts to take a profit.
Define profit.
For me more BTC is better than more FIAT.
I only buy the dips, never sell for fiat but spend on goods or services.

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TopherB
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June 11, 2014, 10:57:44 PM
 #74


You'll never go broke taking a profit. Greed is what tanks most investors. In the end it is not how much could you have potentially made (if you play that game you can make a fortune and still be miserable) but how much did you make. Anything to the plus is a win.

Buy some whenever it tanks, sell some during rallies (the standard buy low, sell high.) Never hurts to take a profit.
Define profit.
For me more BTC is better than more FIAT.
I only buy the dips, never sell for fiat but spend on goods or services.
For me bitcoin isn't a religion. I need more than faith. While I agree with the philosophy behind it and am positively giddy with the potential positive effects it might bring, I still have to stick to the realities as I see them. And beyond that I ALWAYS take a 30% sell at 10x run up. That's just an anti-greed hard and fast rule for me, unless the sums involved are really minuscule. But that's just my personal rules.

I sincerely hope you make a much greater ROI than I do. Because otherwise we went through the floor (although buying and selling on my floors and ceilings I conceivably could pass your holding strategy.) Regardless I prefer a conservative route.
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June 11, 2014, 11:08:00 PM
 #75

If all these things happened at the same time more than likely I would be put on suicide watch by my girl Tongue

Especially the 66.6% attack! lol

*seriously though, plan on holding as much as I can for as long as I can Smiley

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ShakyhandsBTCer
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June 14, 2014, 03:48:33 AM
 #76


You'll never go broke taking a profit. Greed is what tanks most investors. In the end it is not how much could you have potentially made (if you play that game you can make a fortune and still be miserable) but how much did you make. Anything to the plus is a win.

Buy some whenever it tanks, sell some during rallies (the standard buy low, sell high.) Never hurts to take a profit.
Define profit.
For me more BTC is better than more FIAT.
I only buy the dips, never sell for fiat but spend on goods or services.

How is spending bitcoin on good/services different from selling it from fiat? Do you take into consideration the merchant't policy of converting their bitcoin into fiat?
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Trumpin it up for a bit


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June 14, 2014, 11:15:31 AM
 #77

Die hard enough to keep my Bitcoins when the hashrate is around 51% or nearer for Gigahash.io
That said also concerned enough to be watching this carefully as a centralized mint in bitcoin with decreasing node usage are not healthy signs of a distributed open network.
The OP is becoming a sage Smiley
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June 14, 2014, 03:13:54 PM
 #78


You'll never go broke taking a profit. Greed is what tanks most investors. In the end it is not how much could you have potentially made (if you play that game you can make a fortune and still be miserable) but how much did you make. Anything to the plus is a win.

Buy some whenever it tanks, sell some during rallies (the standard buy low, sell high.) Never hurts to take a profit.
Define profit.
For me more BTC is better than more FIAT.
I only buy the dips, never sell for fiat but spend on goods or services.

How is spending bitcoin on good/services different from selling it from fiat? Do you take into consideration the merchant't policy of converting their bitcoin into fiat?
I generally buy and sell bitcoin in and out of Palladium, but that just took a dip I did not expect so if it doesn't correct in time I'll have to use something else when I shift some capital back into bitcoin after if it hits my floor. In the short term 1d, 1w, 1m, 3m, 6m, 9m USD is seriously outperforming bitcoin. I agree with you in long term principle but I have to go with short term realities in practice.
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June 30, 2014, 06:34:40 PM
 #79

Ok, let's assume that the following scenario is actually possible, I would like to know how you feel when all these things happen at the same time:

Bitcoin is under a 66% attack (double spends are happening)
Is also banned by the US, Russian, EU and China government by threat of 30 years jail time.
The real satoshi (proven by something) is found dead, killed.

I feel very clever about my XMR position.

Give a man a fish and he eats for a day.  Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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June 30, 2014, 07:34:48 PM
 #80

Well when artists die their art value increases, so maybe if Satoshi dies the value of bitcoin will increase too.

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