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Author Topic: Reasons to HODL!  (Read 7314 times)
NapoleonBonaparte
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October 06, 2014, 09:15:48 AM
 #61

What's the network effect of USD?  Think any crypto can overcome that?

The network effect of USD is shrinking and slowly being replaced by bilateral currency agreement with China RMB.
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October 06, 2014, 10:20:11 AM
 #62

What's the network effect of USD?  Think any crypto can overcome that?

The network effect of USD is shrinking and slowly being replaced by bilateral currency agreement with China RMB.

Not at all. Tons of people outside of the US are using the USD as a store of value because its relatively stable compared to whatever their country has.
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October 06, 2014, 04:50:31 PM
 #63

What's the network effect of USD?  Think any crypto can overcome that?

The network effect of USD is shrinking and slowly being replaced by bilateral currency agreement with China RMB.

Not at all. Tons of people outside of the US are using the USD as a store of value because its relatively stable compared to whatever their country has.

Yes even China, Brazil. India Russia and South Africa. But what wil happen when suddenly all of them dump it?
username18333
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October 07, 2014, 04:26:23 AM
 #64

What's the network effect of USD?  Think any crypto can overcome that?

The network effect of USD is shrinking and slowly being replaced by bilateral currency agreement with China RMB.

Not at all. Tons of people outside of the US are using the USD as a store of value because its relatively stable compared to whatever their country has.

Yes even China, Brazil. India Russia and South Africa. But what wil happen when suddenly all of them dump it?
That same happening presently known Bitcoin. Wink

Escape the plutocrats’ zanpakutō, Flower in the Mirror, Moon on the Water: brave “the ascent which is rough and steep” (Plato).
asdlolciterquit
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October 07, 2014, 10:25:51 AM
 #65

Any other reason comes to mind?
Mathematical certainty of bitcoin's future dominance comes to mind.

Mathematical? uhm...so you can easily prove it!
qbits
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October 07, 2014, 12:09:08 PM
 #66


When you go from IPv4 to IPv6 you are gaining more features and will have more security

The problem here is not how hard it is to switch.
But if it will be worth to switch. That is what network effect is about.

Yes, you can switch over to laserdisc.
But how many people did switch from vhs to laserdisc?

On the other hand, if another currency becomes popular (let's say dogecoin), regardless of how inferior it is technically, if it becomes extremely popular commercially, it will become dominant.

There are two aspects that fuels the network effect: a new conformity and a cognitive inertia.

This is interesting. Let me contribute to this line of thought as I may know IP&all a little bit:
- most service providers today can offer you IPv6 service alongside your IPv4 service and these can work along side fine.
- you won't get more security with IPv6, possibly even less than IPv4 as for IPv6 there is no standard for NAT/PAT, which gives you 99% of security in IPv4 due to fact it hides your devices from the Internet.
- there are some new features that you do get from IPv6 but nothing spectacular, well autoIP is really nice.
- biggest change is that w. V6 you have 128 bit addresses which means every device can have Internet wide IP address, but...
- ... apart from your Win/Lin/Mac PC almost none of your other devices supports V6.

- most big companies have IPv6 servers on web, but not all.

So you see network effect or not, switching to V6 solves no immediate pain and is therefore unlikely to happen.

In contrast VHS solved a big problem that LaserDisc had as you could record/copy tapes and consumers liked that.

So to the point: Bitcoin has great features, however one thing that is cannot do with it is taking it to the supermarket and instantly pay for groceries. (which is what you can do with most credit/debit cards) Don't look at network effect features of Bitcoin vs. AltCoins. Bitcoin ultimately competes with other payment systems which have enormous network effect, so to bread through Bitcoin must have a KillerApp.

I also don't think positioning Bitcoin "above" consumer level will do any good. Bitcoin must be good for consumer level transactions and only then will it have a chance to compete.
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October 07, 2014, 12:47:37 PM
 #67

Down trend has not broken. Don't fight the tape.
money420weed
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October 08, 2014, 04:44:28 AM
 #68

What's the network effect of USD?  Think any crypto can overcome that?

The network effect of USD is shrinking and slowly being replaced by bilateral currency agreement with China RMB.

Not at all. Tons of people outside of the US are using the USD as a store of value because its relatively stable compared to whatever their country has.

Yes even China, Brazil. India Russia and South Africa. But what wil happen when suddenly all of them dump it?
They probably will not dump the dollar anytime soon. The reason for this is because there is no viable alternative to the dollar, also many of these countries do not have a stable economy and would experience large swings in prices if they abandoned the dollar.
DhaniBoy
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October 08, 2014, 07:27:41 AM
 #69


I am reminding you guys some relevant facts:

1) Paypal is accepting bitcoins
2) Bill Gates declared to be a bitcoin fanboy, very interested in its technology. (So bad he can't own it! Ha)
3) A bitcoin ETFs will be launched soon in Wall Street.
4) SecondMarket is a bitcoin trust with over 70Millions in investments.
5) Pantera Capital has been dealing in bitcoins since the beginning.
6) Even if you don't like it, companies offering user friendly insured wallets popped up in our ecosystem such as Xapo and Circle. Both have substantial investments behind and their products are quite impressive.
7) Assholes such as Butterfly Labs and MtGox are gone. Amateur time is over.

Any other reason comes to mind?
I think these are already quite plenty.

the above reasons, I think it is appropriate to have to withstand sell bitcoin now, at this particular time bitcoin prices are likely to go down, you should hold to sell bitcoin, you must wait until the bitcoin prices rise again ... Smiley

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asdlolciterquit
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October 08, 2014, 10:06:10 AM
 #70

Any other reason comes to mind?
Mathematical certainty of bitcoin's future dominance comes to mind.

Mathematical? uhm...so you can easily prove it!

ehm...coff coff.

nothing?
username18333
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October 08, 2014, 04:42:56 PM
 #71

What's the network effect of USD?  Think any crypto can overcome that?

The network effect of USD is shrinking and slowly being replaced by bilateral currency agreement with China RMB.

Not at all. Tons of people outside of the US are using the USD as a store of value because its relatively stable compared to whatever their country has.

Yes even China, Brazil. India Russia and South Africa. But what wil happen when suddenly all of them dump it?
They probably will not dump the dollar anytime soon. The reason for this is because there is no viable alternative to the dollar, also many of these countries do not have a stable economy and would experience large swings in prices if they abandoned the dollar.
GE coins are a perfectly viable alternative: the empire would merely need to swap-out those states' USD for GEC.

Escape the plutocrats’ zanpakutō, Flower in the Mirror, Moon on the Water: brave “the ascent which is rough and steep” (Plato).
NapoleonBonaparte
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October 08, 2014, 05:20:15 PM
 #72

Having a good night sleep is better than holding something that can explode anytime.
redHeadBlunder
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October 09, 2014, 05:56:18 AM
 #73

What's the network effect of USD?  Think any crypto can overcome that?

The network effect of USD is shrinking and slowly being replaced by bilateral currency agreement with China RMB.

Not at all. Tons of people outside of the US are using the USD as a store of value because its relatively stable compared to whatever their country has.

Yes even China, Brazil. India Russia and South Africa. But what wil happen when suddenly all of them dump it?
They probably will not dump the dollar anytime soon. The reason for this is because there is no viable alternative to the dollar, also many of these countries do not have a stable economy and would experience large swings in prices if they abandoned the dollar.
GE coins are a perfectly viable alternative: the empire would merely need to swap-out those states' USD for GEC.
I don't think that GE coins are a real altcoin. GE has no reason to make their own crypto currency as running one would cost them money when they can simply issue stock to use as currency
negafen
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October 09, 2014, 07:42:09 AM
 #74

Patient will pay off big time for those who believe in bitcoin.
xmasdobo
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October 09, 2014, 02:06:21 PM
 #75

Bitcoin has serious flaws.  The blockchain size and the block time.   Other coins are going to rise up, each having mathematical certainty.  Other reasons?

There are better protocols than TCP/IP and IPv4.
And yet we are still using them. Ask yourself why, and you might understand why such "flaws" might actually be irrelevant.

It's not easy to upgrade from IPv4 to IPv6.  It's not easy AT ALL to move from TCP/IP to another protocol.

Very easy to move from bitcoin to futurexxxcoin.  It's a simple program on a machine that you can delete.  Install another.


Nahh its not about that. The problem with Bitcoin is the average joe still doesn't see a reason to get their heads (and fiat) around it and use it. Why? simple, they dont need to. Everything they need can be done with fiat. So basically what we need is the powers that be bitchslaping us all a bit more until people realize keeping all of your money in your bank is suicidal. Once they realize this, who are they going to trust, some random new coin or the most solid coin? there.
GenieBTC
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October 09, 2014, 03:23:12 PM
 #76

Patient will pay off big time for those who believe in bitcoin.

Until when?
onlyu
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October 09, 2014, 04:30:25 PM
 #77

Down trend has ended. Buy while you still can.
username18333
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October 09, 2014, 05:00:42 PM
 #78

What's the network effect of USD?  Think any crypto can overcome that?

The network effect of USD is shrinking and slowly being replaced by bilateral currency agreement with China RMB.

Not at all. Tons of people outside of the US are using the USD as a store of value because its relatively stable compared to whatever their country has.

Yes even China, Brazil. India Russia and South Africa. But what wil happen when suddenly all of them dump it?
They probably will not dump the dollar anytime soon. The reason for this is because there is no viable alternative to the dollar, also many of these countries do not have a stable economy and would experience large swings in prices if they abandoned the dollar.
GE coins are a perfectly viable alternative: the empire would merely need to swap-out those states' USD for GEC.
I don't think that GE coins are a real altcoin. GE has no reason to make their own crypto currency as running one would cost them money when they can simply issue stock to use as currency
See this. Roll Eyes

Escape the plutocrats’ zanpakutō, Flower in the Mirror, Moon on the Water: brave “the ascent which is rough and steep” (Plato).
CryptoCarmen
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October 12, 2014, 08:38:09 PM
 #79

Down trend has ended. Buy while you still can.

If you held before then you dont have anything to buy with.
mnmShadyBTC
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October 13, 2014, 02:20:36 AM
 #80

What's the network effect of USD?  Think any crypto can overcome that?

The network effect of USD is shrinking and slowly being replaced by bilateral currency agreement with China RMB.

Not at all. Tons of people outside of the US are using the USD as a store of value because its relatively stable compared to whatever their country has.

Yes even China, Brazil. India Russia and South Africa. But what wil happen when suddenly all of them dump it?
They probably will not dump the dollar anytime soon. The reason for this is because there is no viable alternative to the dollar, also many of these countries do not have a stable economy and would experience large swings in prices if they abandoned the dollar.
GE coins are a perfectly viable alternative: the empire would merely need to swap-out those states' USD for GEC.
I don't think that GE coins are a real altcoin. GE has no reason to make their own crypto currency as running one would cost them money when they can simply issue stock to use as currency
See this. Roll Eyes
Wow, I didn't think you were serious. I guess people are always coming up with ways to try to make a few bitcoin with a new altcoin

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