Stop your BTC cheerleading and mass delusion and face the reality

[freequant]

freequant, I am not ignoring you, but I think I partially answered in my prior post. And I would much rather accomplish than talk. But I can't promise I will. If there is any serious group of capable developers that want to PM me, I do read. But I mean capable. Someone of smooth's caliber, but with more time to invest in it full-time.

And this is risky. Much easier to create a pump-and-dump than to really take on this challenge.

If you don't share your ideas there is no ground to start from. But you know that already.

[UnunoctiumTesticles]

freequant, I am not ignoring you, but I think I partially answered in my prior post. And I would much rather accomplish than talk. But I can't promise I will. If there is any serious group of capable developers that want to PM me, I do read. But I mean capable. Someone of smooth's caliber, but with more time to invest in it full-time.

And this is risky. Much easier to create a pump-and-dump than to really take on this challenge.

If you don't share your ideas there is no ground to start from. But you know that already.

I have shared. But i get tired of digging through my archives to provide links. I have provided more links than any man on earth, yet nothing ever comes from it.

I suppose if you are keenly interested, you will dig. Find the discussion about creating a better Tor network and using micropayments to eliminate the Sybil attack that exists on Tor.

Sorry Cryptonote ring sigs are not anonymous if your IP is not also. I have holistic designs in mind. But it is too much I think for one man to implement by himself.

[liexel]

John Mauldin on Bitcoin

[b4basit]

sounds like u'want to scared us :p u can encourge people don't broke their hope...anway i am 2/3 agree with you.....

[elinehaarbollen]

microsoft just accepted bitcoin.
Is this discussion even relevant now ?

[freequant]

I have shared. But i get tired of digging through my archives to provide links. I have provided more links than any man on earth, yet nothing ever comes from it.

I suppose if you are keenly interested, you will dig. Find the discussion about creating a better Tor network and using micropayments to eliminate the Sybil attack that exists on Tor.

Sorry Cryptonote ring sigs are not anonymous if your IP is not also. I have holistic designs in mind. But it is too much I think for one man to implement by himself.

If you are not keen on digging links, why advertize your previous posts? The signal/noise ratio is simply too low here to go on digging people's post history just because they claim to have made useful contributions which in the vast majority of cases turns out not to be the case.

[SamTsuedo]

I think there is some misunderstanding between OP and his opponents.

If my understanding is correct (OP correct me if I got it wrong) OP doesn't claim that blockchain technology is a fad and I see no statement in his stance that suggests that the future global financial infrastructure isn't going to be underpinned by cryptography and peer-to-peer technology. On the other hand, many people who react to OP's stance seem to be doing an amalgamation of the concept of crypto-currency and the specific instance of this concept that is Bitcoin and generalize any argument made against Bitcoin as if they were made against the technical breakthrough of blockchain technology at large and its relevance to the future of global financial infrastructure. Granted, the fact that Satoshi didn't dissociate the name of the concept he invented from the name of its first implementation participates to the confusion.

But let's step back and look at things objectively: Satoshi's major contribution isn't Bitcoin but blockchain technology in the same way as James Watt's contribution to technology is the steam engine with rotary motion as a general concept and not that specific 10-horsepower model that he initially patented and that back then was perceived to be his invention and was expected to take over locomotion globally. A few hundred years later nobody remembers that specific engine model he submitted and we are not even using steam powered vehicules anymore but everyone remembers James Watt as the guy who figured how to convert steam power into rotary motion and enabled a new era of mass transportation. So these people who feel outraged at the idea that Satoshi's invention is being riped off by copycats and Satoshi's credit and legacy diluted, don't worry: although it may seem from our current perspective that so called alternate currencies are parasites and that Satoshi's original invention is being abused and wronged somehow, it will appear in hindsight that this frustrating invasion of alternate currencies was indeed the path chosen by technological evolution that made it possible for blockchain technology to prevail eventually.

Technology as the extension of evolution in human realm will seek to fill any gap that would allow for improvement. We know that a faster transaction network is possible. We know that a transaction network with more bandwidth is possible. We know that a transaction network consuming less resources is possible. We know that a transaction network with more features is possible. We know that a transaction network more fit to existing global financial ecosystem is possible. And we know that technological evolution / progress will ensure that what is possible actually occurs. We therefore all know that a transaction network with faster transaction time, larger bandwidth, lower resources consumption, larger features set and more fitness to current ecosystem is bound to emerge and replace Bitcoin. Although this is a difficult truth to look at, convinced as we are that this would somehow be some betrayal to Satoshi's legacy, this is nonetheless the truth and history will show that no matter how many iterations and what the final form blockchain technology will take, Satoshi will forever be celebrated as the man behind this revolution.

The bottom line as far as this thread is concerned is that although blockchain technology has entered our technological genome for good, Bitcoin as its first instance is not here to stay and will necessarily be replaced by more advanced designs. I will not venture to speculate on timelines or the identity of possible contenders and it is very possible that the currency that will overtake Bitcoin hasn't been incepted yet but a quick look at market capitalizations will nonetheless confirm beyond doubt that the relative market share of Bitcoin is shrinking and prompt objective observers to realize that Bitcoin is losing ground.

Upon this realization, investors would be wise to start analyzing the market and consider hedging when they perceive that a viable contender has entered the market and appears to be gaining ground.

Thank you. You are right to point out that I never criticized blockchain technology in anyway, but looking in hindsight it seems I made a mistake by not emphasizing the fact that blockchain was/ is a revolutionary aspect and the driving force behind the cryptos. Those of you who are able to read between lines - understood that I am a supporter of crypto currencies, thus I did not feel it was necessary to elaborate on this matter.

The comparison with social media development might not have been the perfect example but all of you know what I was trying to say. Much more accurate comparison is the one presented by freequant in the above post comparing Watt and Satoshi. I think this is a perfect example - almost a mirror thing, just different temporal and spatial settings.

The idea is not to blindly worship bitcoin, but to examine the future of the crypto world in this context. I know most of you are heavily invested in BTC and feel that I am attacking you personally - I also hold BTC and alts. So we are in the same boat. Having an open and uncensored debate cannot hurt the community and it is something we desperately need.

Sam

[Lauda]

Stop trolling. I paid $25 to transfer $100 once via Western Union.
You pay a fee with banks as well, stop selling a fake story.

Of course you did.  And I've paid $50 for a coke.  There are stupid ways of sending money, and they are expensive.  Western Union is not how normal fiat transactions are done.  Certainly not how a billion-dollar transaction would be done.  If you know someone who tried to send a billion dollars via WU, give me his addy--I got some Bitcoin to sell him

If your bank charges you for writing checks and using a debit card, I suspect you have stumbled upon a fiat equivalent of Neo Bee.

Yes I did. I'm pretty sure that people would rather believe me than you, and it's obvious why.
I could ask them to dig up the records easily.


https://www.cryptocoinsnews.com/microsoft-now-accepts-bitcoin-bitpay/
But wait, OP and his crew are the smart ones. We, along with the executives of Microsoft are the delusional ones.  

[Muuurrrrica!]

Stop trolling. I paid $25 to transfer $100 once via Western Union.
You pay a fee with banks as well, stop selling a fake story.

Of course you did.  And I've paid $50 for a coke.  There are stupid ways of sending money, and they are expensive.  Western Union is not how normal fiat transactions are done.  Certainly not how a billion-dollar transaction would be done.  If you know someone who tried to send a billion dollars via WU, give me his addy--I got some Bitcoin to sell him

If your bank charges you for writing checks and using a debit card, I suspect you have stumbled upon a fiat equivalent of Neo Bee.

Yes I did. I'm pretty sure that people would rather believe me than you, and it's obvious why.
I could ask them to dig up the records easily.


https://www.cryptocoinsnews.com/microsoft-now-accepts-bitcoin-bitpay/
But wait, OP and his crew are the smart ones. We, along with the executives of Microsoft are the delusional ones.  

if it dumps on the news it'll dump hard. Amazing how everyone is in instant bubblemode immediately. I think we will be back to this and other threads in about 10 to 15 days.

[btcxyzzz]

Must say Sam's very close-minded person + it's probably throw-away account just for trolling. Yeah, I want it to drop to ~310 so I can buy it, but I don't fail to see the great future for Bitcoin.

[Kracken]

Just because Satoshi said it, doesn't make it true, it was just his personal opinion.

You gotta be kidding me. This is the written statement by a man who created bitcoin. You need a head check buddy.

And IBM once said "there is the need for only 1 computer in the world".

Bill Gates once said "we will never make a 32bit operating system".

DEC Chairman Ken Olsen said "no one would want a personal computer in their home".

Your Point?

All the above are very rich and successful people/corporations who made mistakes in their predictions hardly proves anything does it?

[redsn0w]

A world with the money can not be perfect [BCNext]. It is  simple....

[NotLambchop]

Stop trolling. I paid $25 to transfer $100 once via Western Union.
You pay a fee with banks as well, stop selling a fake story.

Of course you did.  And I've paid $50 for a coke.  There are stupid ways of sending money, and they are expensive.  Western Union is not how normal fiat transactions are done.  Certainly not how a billion-dollar transaction would be done.  If you know someone who tried to send a billion dollars via WU, give me his addy--I got some Bitcoin to sell him

If your bank charges you for writing checks and using a debit card, I suspect you have stumbled upon a fiat equivalent of Neo Bee.

Yes I did. I'm pretty sure that people would rather believe me than you, and it's obvious why.
I could ask them to dig up the records easily.

And I paid $50 for a coke--not joking.  Well, sort'a a joke at the time--last can of coke in the house, long story.  That's not the point tho.  The point, for the slow-to-grasp, is this:
Western Union is not normally used to transact in fiat.  Cash, checks, debit, and credit cards are.  Those are free to use, thus cheaper than Bitcoin, where every transaction costs something.
You asked for your example to be shown as shit, it was.  I did.
Instead of thanking me for the lesson like a reasonable human being, you chose to sperge

https://www.cryptocoinsnews.com/microsoft-now-accepts-bitcoin-bitpay/
But wait, OP and his crew are the smart ones. We, along with the executives of Microsoft are the delusional ones.  

Lol, I'd accept wooden nickels, as long as some payment processor took these wood chips & turned them into USD before i had to touch them.

Enjoy the pump, hope you had fun!

[nakaone]

point 2-5 are very valid use cases for bitcoin. your arguments are may be reasonable for certain countries - but never on global scale.

Never huh?

Like all those who said silver would never fall again below $17. Like all those who said Bitcoin wouldn't fall from $1000 to $350. Yeah I was predicting all those in public, I even publicly predicted the $48 top for silver 1 year before it occurred.

Sorry you are just hot air. I have an analysis record which speaks loud and clear.

Look we all try to classify bitcoin and it is definetely reasonable to use certain elements of precious metal markets - however the biggest difference with bitcoin is that is intangible, completely divisible and easy to transport.

You are analysis regarding bitcoins future development is build on several worst-case-assumptions (world wide quasi dictatorship, fungibility crisis etc. pp) - we all do not know if this will or will not happen in the future, but I assume, given that we have over 200 jurisdictions in the world, it is not likely.

however regarding personal insults - I am sorry using the word horrible, it was inappropiate. The better word for your economic analysis is radical.
   

[asdlolciterquit]

People, you need a reality check. Most of you here are holding to a few BTC expecting to become millionaires some day. You are in a collective mass delusion - about 95% of you here.

Satoshi Nakamoto stated himself that with BTC there will be no middle way - it will absord the whole world's economy which is estimated to be around $100 trillion including the black markets. If this does not happen BTC will be literally worthless - not even half a cent that it started at.

Bitcoin has been around since 2009 , so we are entering the 6th year of its existence. How many years would it take for bitcoin to absorb the total global economy? 50 years ? 100 years ? I doesn't matter because it was just another fad like myspace with a limited lifespan - that opened the social media to the mainstream and gave us twitter and facebook. Bitcoin's historical significance will be that it launched the concept of crypto currency to the mainstream. It will not be worth $10,000 or $100,000 dollars anytime soon (read: never).

So those of you who are still in delusional states holding the BTC you bought at $700 or $900 dollars, cut your loses and get away as fast as you can. November 2013 was the bubble which will never repeat again. All this talk about ETF is rubbish, because it is already calculated into the price.

The time is running out for BTC , and I am 90% certain it will be worthless before 2020. It has accomplished its task - crypto currency is mainstream.

Those smart enough know that the only real purpose of BTC right now is as a vehicle for transaction of fiat money, without being exposed to the scrutiny of the government checks and the global banking system, they understand that bitcoin is not a commodity, not a store of value, and it never was - to them it doesn't matter if the price of one BTC is $1 or $100,000. It doesn't change anything.

Some of you are so emotionally attached to your stack of bitcoins that you will react in a violent emotional outrage at my post. Those of you who are more stable are starting to realize what the score is, and no mate your 10 BTC or your 100 BTC stack will not make you a $ millionaire, might as well go to Vegas and try your hand at becoming a millionaire there. You have better chances.

Sam

same old story, about people that are almost sure about something they can't know

[Paashaas]

People, you need a reality check. Most of you here are holding to a few BTC expecting to become millionaires some day. You are in a collective mass delusion - about 95% of you here.

Satoshi Nakamoto stated himself that with BTC there will be no middle way - it will absord the whole world's economy which is estimated to be around $100 trillion including the black markets. If this does not happen BTC will be literally worthless - not even half a cent that it started at.

Bitcoin has been around since 2009 , so we are entering the 6th year of its existence. How many years would it take for bitcoin to absorb the total global economy? 50 years ? 100 years ? I doesn't matter because it was just another fad like myspace with a limited lifespan - that opened the social media to the mainstream and gave us twitter and facebook. Bitcoin's historical significance will be that it launched the concept of crypto currency to the mainstream. It will not be worth $10,000 or $100,000 dollars anytime soon (read: never).

So those of you who are still in delusional states holding the BTC you bought at $700 or $900 dollars, cut your loses and get away as fast as you can. November 2013 was the bubble which will never repeat again. All this talk about ETF is rubbish, because it is already calculated into the price.

The time is running out for BTC , and I am 90% certain it will be worthless before 2020. It has accomplished its task - crypto currency is mainstream.

Those smart enough know that the only real purpose of BTC right now is as a vehicle for transaction of fiat money, without being exposed to the scrutiny of the government checks and the global banking system, they understand that bitcoin is not a commodity, not a store of value, and it never was - to them it doesn't matter if the price of one BTC is $1 or $100,000. It doesn't change anything.

Some of you are so emotionally attached to your stack of bitcoins that you will react in a violent emotional outrage at my post. Those of you who are more stable are starting to realize what the score is, and no mate your 10 BTC or your 100 BTC stack will not make you a $ millionaire, might as well go to Vegas and try your hand at becoming a millionaire there. You have better chances.

Sam

Huge pile off Bullschit here, strong troll post from someone with a very shortsighted look on new tech.

[wpalczynski]

lastly if anyone is shouting that bitcoin is dead and will only be worth 1cent soon. how about you sell me 1bitcoin for 1c now and put your money where your mouth is. i dare you to sell me 1000 bitcoins for $10. until you are willing to do such a thing, your points are meaningless.

This post made me LOL.  I'm bullish on Bitcoin but why in the world would someone sell you something for 0.01$ if they can sell it for 330$??

That statement makes no sense.

[youngmike]

I don't have to pay 50$ coke never ever anymore!!!!

[SamTsuedo]

This is what they do to they when you confront the powers that be:

https://bitcointalk.org/index.php?topic=890205.0

They discredit you, defame you, insult you and destroy you.

Watch out people.

[fewcoins]

lastly if anyone is shouting that bitcoin is dead and will only be worth 1cent soon. how about you sell me 1bitcoin for 1c now and put your money where your mouth is. i dare you to sell me 1000 bitcoins for $10. until you are willing to do such a thing, your points are meaningless.

This post made me LOL.  I'm bullish on Bitcoin but why in the world would someone sell you something for 0.01$ if they can sell it for 330$??

That statement makes no sense.

This is the kind of reasoning bitcoin bulls use... what can you do, they see BTC is not even holding 345, but they will buy the "dip" all weekend