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porcupine87
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October 26, 2014, 04:05:09 PM |
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Nobody is manipulating the price , we are going nowhere but down cut you loose.
+1 And stop saying the guy who sold 30 000btc at $300 wanted to manipulating the price down to buy new coins. Ask him when we are down at $10. The price is going down because Bitcoin is disappointing. Noone is using it. |
"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
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zby
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Activity: 1592
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October 26, 2014, 04:12:34 PM |
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People lose money - they need someone to take the blame for their bad decisions. The manipulator threads are generally bearish.
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Skoupi
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Skoupi the Great
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October 26, 2014, 04:15:38 PM |
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The price is going down because Bitcoin is disappointing. Noone is using it.
True. The only thing more dissapointing than bitcoin was the internet during the 90s... hmm  |
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porcupine87
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October 26, 2014, 04:27:13 PM |
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The price is going down because Bitcoin is disappointing. Noone is using it.
True. The only thing more dissapointing than bitcoin was the internet during the 90s... hmm You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money. My girlfriend (25 years old) just recently decided to use online banking. To have a facebook profile, paypal etc. is ok. But money? If you have it cash in your purse many people feel more safe. And Bitcoin? Even if people know that it exists they don't trust it. And the advantages? I know, they exist. But in my opinion they are too small to switch. If there will be a new financial crisis and the Dollar/Euro are losing trust Bitcoin's time woudl arrive! Otherwise ist is difficulty. |
"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
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Skoupi
Sr. Member
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Merit: 250
Skoupi the Great
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October 26, 2014, 05:28:55 PM |
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You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money.
Bitcoin is not money just like the internet is not a digital version of USPS... Bitcoin is a protocol/technology. One of its applications is digital cash. |
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NotLambchop
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October 26, 2014, 05:35:45 PM |
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You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money.
Bitcoin is not money just like the internet is not a digital version of USPS... Bitcoin is a protocol/technology. One of its applications is digital cash. Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet." |
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Bitventurer
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October 26, 2014, 07:24:09 PM |
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You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money.
Bitcoin is not money just like the internet is not a digital version of USPS... Bitcoin is a protocol/technology. One of its applications is digital cash. Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet." Wrong, many who bought .com domains made a fortune. |
SP8DE - The Game of Chance. Changed.
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NotLambchop
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October 26, 2014, 09:04:00 PM |
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You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money.
Bitcoin is not money just like the internet is not a digital version of USPS... Bitcoin is a protocol/technology. One of its applications is digital cash. Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet." Wrong, many who bought .com domains made a fortune. .com domains have nothing to do with "protocol/technology." See boldface above. |
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RoadStress
Legendary
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Activity: 1904
Merit: 1007
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October 26, 2014, 09:57:07 PM |
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Isn't buying otc more expensive? Why would anyone do that just to keep the exchange rate low? What's the gain?
Correct, OTC is more expensive. People usually buy from the exchanges to sell OTC. Or, they find a OTC miner that can sell below bitstamp then they turn around and sell to retail buyers OTC (rather than making a tiny % selling on exchange). Why would a miner sell below regular price? That doesn't make sense. Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet."
I am sure many ISP provides made good money selling Internet to the people... |
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stefanf
Newbie
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October 26, 2014, 10:00:16 PM |
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You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money.
Bitcoin is not money just like the internet is not a digital version of USPS... Bitcoin is a protocol/technology. One of its applications is digital cash. Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet." Bitcoin the "protocol/technology" can't work without itself being a currency (something with value). Without value attached to its blocks, what is the incentive for miners? Only big miners? Then what's the trust in the protocol? Decentralization requires the blocks to carry their own value for the miner. |
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NotLambchop
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October 26, 2014, 10:16:30 PM |
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... Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet."
I am sure many ISP provides made good money selling Internet to the people... Yes, just like I'm sure many exchanges made good money selling you Bitcoin. I'm not suggesting that no one profits from the internet, just that the value of bitcoin (the unit of account) is not the same as the value of the technology. @stefanf: I agree with you, but there's nothing to suggest that today's BTC price reflects the value of the technology. There's even less to suggest that the price would rise. Solving a block must be rewarded for people to continue mining, but there's no reason for the reward to be high if the network's total worth (the profit which could be had by compromising it, etc.) is low. |
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stefanf
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October 26, 2014, 10:21:36 PM |
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@NotLambchop
But, your opinion seems to be that the protocol/technology is valuable, therefore the coins should also be. When more applications are developed for the blockchain and adoption increases, the more valuable the protocol becomes, the more expensive the coins become.
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NotLambchop
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October 26, 2014, 10:38:32 PM |
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@NotLambchop
But, your opinion seems to be that the protocol/technology is valuable, therefore the coins should also be. When more applications are developed for the blockchain and adoption increases, the more valuable the protocol becomes, the more expensive the coins become.
The blockchain can be duplicated as many times and for as many different applications as need be. Clonecoin. This particular instance of he technology--the Bitcoin blockchain--is no more elegant than a clone, so not particularly valuable beyond its current sunk capital (miners, etc.) & brand recognition. If I said automotive technology is valuable to mankind, would you assume I meant Chevy? |
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stefanf
Newbie
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October 26, 2014, 10:49:08 PM |
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I have to agree with you in this. Any coin can succeed, but the more useful it is or the most trust its blockchain applications require, the more valuable it will be. It doesn't have to be bitcoin the one that will succeed (if it is one..).
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fewcoins
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October 27, 2014, 01:00:32 AM |
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I have to agree with you in this. Any coin can succeed, but the more useful it is or the most trust its blockchain applications require, the more valuable it will be. It doesn't have to be bitcoin the one that will succeed (if it is one..).
Wrong... bitcoin must succeed or no one will have faith in alt currency for another 5 or so years like after e-gold |
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stefanf
Newbie
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October 27, 2014, 01:43:14 AM |
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Everyone will have faith in a truly decentralized blockchain. eGold was nothing like that. It wasn't new technology. The blockchain is and every new technology stays forever and advances.
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brg444
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October 27, 2014, 01:52:09 AM |
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@NotLambchop
But, your opinion seems to be that the protocol/technology is valuable, therefore the coins should also be. When more applications are developed for the blockchain and adoption increases, the more valuable the protocol becomes, the more expensive the coins become.
The blockchain can be duplicated as many times and for as many different applications as need be. Clonecoin. This particular instance of he technology--the Bitcoin blockchain--is no more elegant than a clone, so not particularly valuable beyond its current sunk capital (miners, etc.) & brand recognition. If I said automotive technology is valuable to mankind, would you assume I meant Chevy?  so you're part of that blockchain not bitcoin clown group heh. how has clonecoin success worked out so far? when should we expect them to catch up? sunk capital surely you mean security & infrastructure right? I thought you were smarter than that, even in your trolling, disappointed  |
"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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NotLambchop
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October 27, 2014, 12:08:40 PM |
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^
As much as I admire your ability to post smileys, the rest of your typings disappoint.
In the future, please try to make your comments coherent, relevant and concise.
Or simply stick to playing vidya.
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Skoupi
Sr. Member
Offline
Activity: 252
Merit: 250
Skoupi the Great
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October 27, 2014, 07:01:03 PM |
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You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money.
Bitcoin is not money just like the internet is not a digital version of USPS... Bitcoin is a protocol/technology. One of its applications is digital cash. Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet." The analogy was meant to help you understand that bitcoin is a technology that has applications (digital cash)... Obviously the two protocols have different characteristics... |
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NotLambchop
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October 27, 2014, 07:11:53 PM |
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You're missing the point. Some here think that by buying 1BTC, they are buying 1/21millionth of the technology. I'm simply pointing out that's nonsense. ...
The blockchain can be duplicated as many times and for as many different applications as need be. Clonecoin. This particular instance of he technology--the Bitcoin blockchain--is no more elegant than a clone, so not particularly valuable beyond its current sunk capital (miners, etc.) & brand recognition.
If I said automotive technology is valuable to mankind, would you assume I meant Chevy?
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