TIME TO BUY

[barabbas]

At least that's what I just did, so I believe we are at or very close to the bottom. And I plan on buying more, significantly more, at these levels as Coinbase allows me -I like to instant buy-, so I am prepared to keep on buying for a little while if prices remain around 325 or go any lower.

Why? Well, I believe BTC will be, far and away THE investment of 2015. As a trader, mind you, I will not stay on it if there are significant profits to be taken, so nothing to do with "long" term investment here ("long", in this case, being one year), but I hope to be lucky enough to time a few trades along the way even if I am "forced" to buy up eventually.

I don't believe the current divergence between price and popularity of BTC will continue for much longer and, as more and more vendors, from Time Inc to Microsoft, start accepting payments in BTC, I cannot imagine any way but up for the currency... especially if the regulation incoming finally arrives... as it should in 2015.

Also, if price remains stagnant -let alone if it continues going down- I believe as many as half the people currently mining will stop that particular madness and their money will come into BTC straight, rather than towards ever more expensive miners, so that could be another propeller.

Anyway, those are my motivations. That's why I bought back. That's why I'm buying more.

[MelodyRowell]

Bitcoin needed a panic sell the market was too stable.

[bajing]

yeah now many people panic and they sell bitcoin

[cesckat]

Panic's coming to the streets, and investors know it  
Once people wants to buy, they're like:

[MicroGuy]

At least that's what I just did, so I believe we are at or very close to the bottom.

Why would we be at the bottom? The selling is just beginning.

Every time a new company like Microsoft offers bitcoin as a payment method, the market gains another auto-seller. There is no reason for the price to increase until this imbalance is corrected. The time to "go long" would be when a major company announces that it will be integrating bitcoin into its payroll options.

[LordSonjai]

hummmm,when I am finish building my computer I will look at the market and decide if it is near its low,I think by tomorrow it should be close to 315 but I am no experts. Although....the experts have been all wrong anyway so who cares what they say.

[fryarminer]

Eh.. I think it's just the holidays. It'll go back up after Christmas.

I bought some today, so expect it to plunge a bit more. I have bad luck that way.

[exoton]

At least that's what I just did, so I believe we are at or very close to the bottom.

Why would we be at the bottom? The selling is just beginning.

Every time a new company like Microsoft offers bitcoin as a payment method, the market gains another auto-seller. There is no reason for the price to increase until this imbalance is corrected. The time to "go long" would be when a major company announces that it will be integrating bitcoin into its payroll options.

This is not necessarily true. When additional companies start to accept bitcoin, more people will start to buy bitcoin for the sole purpose of spending it at one of such merchants. Each additional large company that accepts bitcoin makes it one company closer to having B2B bitcoin related payments

[Agestorzrxx]

it's a good time to buy.

[NarC]

Eh.. I think it's just the holidays. It'll go back up after Christmas.

I bought some today, so expect it to plunge a bit more. I have bad luck that way.

I think the same. I have friends into bitcoin, who cashed out a bit, just to buy chistmas presents/ And would get ack in right after it.

Same here, I sold a few for the holidays.

[barabbas]

At least that's what I just did, so I believe we are at or very close to the bottom.

Why would we be at the bottom? The selling is just beginning.

Every time a new company like Microsoft offers bitcoin as a payment method, the market gains another auto-seller. There is no reason for the price to increase until this imbalance is corrected. The time to "go long" would be when a major company announces that it will be integrating bitcoin into its payroll options.

I'm in the opposite side of that theory. I believe the effect of this companies accepting payment in BTC is legitimizing it and driving it closer to mainstream. The consequence I expect in 2015, from these levels, is steady growth in both price and usage/popularity: the snowbal effect as more "converts" = more demand.

Most people is only looking at the prices day to day; I believe btc will flourish agan when more people, from the mainstream world, see it not just as a usable currency with no scamming attached to it and, above all, as a storage of value not affected by inflation. Back to the basics, again.

[LordSonjai]

At least that's what I just did, so I believe we are at or very close to the bottom.

Why would we be at the bottom? The selling is just beginning.

Every time a new company like Microsoft offers bitcoin as a payment method, the market gains another auto-seller. There is no reason for the price to increase until this imbalance is corrected. The time to "go long" would be when a major company announces that it will be integrating bitcoin into its payroll options.

I'm in the opposite side of that theory. I believe the effect of this companies accepting payment in BTC is legitimizing it and driving it closer to mainstream. The consequence I expect in 2015, from these levels, is steady growth in both price and usage/popularity: the snowbal effect as more "converts" = more demand.

Most people is only looking at the prices day to day; I believe btc will flourish agan when more people, from the mainstream world, see it not just as a usable currency with no scamming attached to it and, above all, as a storage of value not affected by inflation. Back to the basics, again.

Yes I agree with this but on the other side of the coin that would make sense. I mean think about it,yes it is moving towards mainstream and all,but its still far from their,merchants may not be doing it purposely but it seems like they are just cashing out on bitcoin along with the other investors.

[exoton]

At least that's what I just did, so I believe we are at or very close to the bottom.

Why would we be at the bottom? The selling is just beginning.

Every time a new company like Microsoft offers bitcoin as a payment method, the market gains another auto-seller. There is no reason for the price to increase until this imbalance is corrected. The time to "go long" would be when a major company announces that it will be integrating bitcoin into its payroll options.

I'm in the opposite side of that theory. I believe the effect of this companies accepting payment in BTC is legitimizing it and driving it closer to mainstream. The consequence I expect in 2015, from these levels, is steady growth in both price and usage/popularity: the snowbal effect as more "converts" = more demand.

Most people is only looking at the prices day to day; I believe btc will flourish agan when more people, from the mainstream world, see it not just as a usable currency with no scamming attached to it and, above all, as a storage of value not affected by inflation. Back to the basics, again.

Exactly. Some of the companies starting to accept bitcoin may cause more supply on the market, however overall more merchants accepting bitcoin are going to cause more people (consumers) to use it

[seoincorporation]

At least that's what I just did, so I believe we are at or very close to the bottom. And I plan on buying more, significantly more, at these levels as Coinbase allows me -I like to instant buy-, so I am prepared to keep on buying for a little while if prices remain around 325 or go any lower.

Why? Well, I believe BTC will be, far and away THE investment of 2015. As a trader, mind you, I will not stay on it if there are significant profits to be taken, so nothing to do with "long" term investment here ("long", in this case, being one year), but I hope to be lucky enough to time a few trades along the way even if I am "forced" to buy up eventually.

I don't believe the current divergence between price and popularity of BTC will continue for much longer and, as more and more vendors, from Time Inc to Microsoft, start accepting payments in BTC, I cannot imagine any way but up for the currency... especially if the regulation incoming finally arrives... as it should in 2015.

Also, if price remains stagnant -let alone if it continues going down- I believe as many as half the people currently mining will stop that particular madness and their money will come into BTC straight, rather than towards ever more expensive miners, so that could be another propeller.

Anyway, those are my motivations. That's why I bought back. That's why I'm buying more.

Yeah, if pleople buy now and wait max 6 months they will make nice money, bitcoin will go up soon.

[Fernandez]

I am looking to buy too, maybe will do so by this weekend. I have a feeling it will go down more.
I haven't put money in Bitcoin directly before, but the prices are too tempting.

[LordSonjai]

I am looking to buy too, maybe will do so by this weekend. I have a feeling it will go down more.
I haven't put money in Bitcoin directly before, but the prices are too tempting.

Even though I just bought 50 when it was at 350,I want it to drop to 100 just so i can make up for my loss.

[Biitcoin]

Why everyone is looking to buy badly It's not that low , It's like ~333$ . It can get lower so we start buying , no ?

[dwdoc]

I think now is a good time to dollar cost average in every few days. For example you can set up a recurring purchase on coinbase.

[myohmy81]

I agree time to buy

[Beliathon]

The time to "go long" would be when a major company announces that it will be integrating bitcoin into its payroll options.

It is always the time to "go long". Always. Going short is where you have to be very careful.

[cryptowest]

The time to "go long" would be when a major company announces that it will be integrating bitcoin into its payroll options.

It is always the time to "go long". Always. Going short is where you have to be very careful.

this doesn't make sense to me because shorters are making most of the profits...

[amytat]

maybe the price will go down below 300 , waiting to buy

[Nerazzura]

I will try to apply for a loan at a bank in the forum or in my town. hopefully running smoothly. or if not, I just need to keep bitcoin that I have now

[youngmike]

I'm buying back under 100$  We are going to see it earlier than expected  I promise.

[cyberpinoy]

Nope buy at 100 dollas, thats when it is time to buy, Right now mine and save dont dump save save save cause when it hits 100 bucks again, all the rich idiots are gonna jump the bandwagon and make all us hoarders rich. Follow the rich dudes.

[Daniel91]

From my experience at the market, when price is very low, this is, in fact, the best time to buy, not to sell )
If you want to earn good money, buy cheap and sell when price is high.

[redsn0w]

Maybe it is better to wait a bit , I think the bitcoin price will drop again.

[jsgayo]

Good time to buy.

[bornil267645]

Only buying will make it even more worse... Need to use some of the Bitcoin as well...

[biodieselchris]

Panic's coming to the streets, and investors know it  
Once people wants to buy, they're like:

Richmond Kansas City  Richmond Kansas City  Richmond Kansas City  Richmond Kansas City  Richmond Kansas City  Richmond Kansas City  Richmond Kansas City  Richmond Kansas City 

[Oscilson]

I shall wait after Christmas to buy.

[youngmike]

Bitcoin is just another Tulip Mania  Of course believers deny it 

http://en.wikipedia.org/wiki/Tulip_mania

[fvs114]

I'll wait until drops to 100, and then buy

[cesckat]

Bitcoin is just another Tulip Mania  Of course believers deny it 

http://en.wikipedia.org/wiki/Tulip_mania

People that think that's like the tulip-mania is because they don't know what they have on their wallets… the decentralized idea of bitcoin is unique and people is always focusing on their BTC/CNY or BTC/USD price…

Don't be obsessive with the price, bitcoin is more than that.

[thirdprize]

At least that's what I just did, so I believe we are at or very close to the bottom.

Why would we be at the bottom? The selling is just beginning.

Every time a new company like Microsoft offers bitcoin as a payment method, the market gains another auto-seller. There is no reason for the price to increase until this imbalance is corrected. The time to "go long" would be when a major company announces that it will be integrating bitcoin into its payroll options.

This is not necessarily true. When additional companies start to accept bitcoin, more people will start to buy bitcoin for the sole purpose of spending it at one of such merchants. Each additional large company that accepts bitcoin makes it one company closer to having B2B bitcoin related payments

If M$ ONLY accepted Btc then i would agree with you.  However, M$ accepts all major payment types and so why would you convert to Btc first?  You are bound to lose a little in the conversion so it would in fact cost you more.  You might do it once, just because you could, but you wouldn't do it twice.

[MicroGuy]

Exactly. Some of the companies starting to accept bitcoin may cause more supply on the market, however overall more merchants accepting bitcoin are going to cause more people (consumers) to use it

Ordinary people are not going to take the additional step of converting fiat to BTC, so they can then buy things with BTC that they could have purchased directly with fiat. Consumers are not stupid and will not bother to take that additional unnecessary step.

The only solution is for the community to wake up and realize that we need merchants to integrate BTC into their payrolls to offset the selling!

[youngmike]

Bitcoin is nothing but a money transfer system and not even easy to use compared to Paypal Forget the mass adoption, even 50$ BTC is overpriced when you think about how useful it is  

[evok3d]

Bitcoin is nothing but a money transfer system and not even easy to use compared to Paypal Forget the mass adoption, even 50$ BTC is overpriced when you think about how useful it is  

I had to read that a few time because at first i thought you were supporting the idea but then i got confused of your aim. Bitcoin is like Internet 3.0

It has the ability to replace almost all online services along with the entire wall street handling/issuing and trading of shares, parliament/government voting and many other things. Look at a few of these services:

http://www.bitnation.co/

http://bitcongress.org/

http://identi.fi

To say 1 BTC out of 21,000,000 in existence ( minus a few million perhaps for lost coins, satoshis coins etc.) is overpriced at $50 would indicate the lack of understanding on where this is all going.

IMO the money/currency aspect that you mention Bitcoin being used for is less than 5% of its actual purpose, if that. The money aspect is just the beginning of what we will come to see.

I doubt we will even talk about 1 Bitcoin in a few years time just as we dont speak about a 1 KG of Gold, instead we speak about grams or ounces and we will use bits as the value will be too large.

just my 0.000001 BTC

[youngmike]

Bitcoin is nothing but a money transfer system and not even easy to use compared to Paypal Forget the mass adoption, even 50$ BTC is overpriced when you think about how useful it is  

I had to read that a few time because at first i thought you were supporting the idea but then i got confused of your aim. Bitcoin is like Internet 3.0

It has the ability to replace almost all online services along with the entire wall street handling/issuing and trading of shares, parliament/government voting and many other things. Look at a few of these services:

http://www.bitnation.co/

http://bitcongress.org/

http://identi.fi

To say 1 BTC out of 21,000,000 in existence ( minus a few million perhaps for lost coins, satoshis coins etc.) is overpriced at $50 would indicate the lack of understanding on where this is all going.

IMO the money/currency aspect that you mention Bitcoin being used for is less than 5% of its actual purpose, if that. The money aspect is just the beginning of what we will come to see.

I doubt we will even talk about 1 Bitcoin in a few years time just as we dont speak about a 1 KG of Gold, instead we speak about grams or ounces and we will use bits as the value will be too large.

just my 0.000001 BTC

Yes flying cars have potential of replacing both planes and cars 

[creuz]

Bitcoin is nothing but a money transfer system and not even easy to use compared to Paypal Forget the mass adoption, even 50$ BTC is overpriced when you think about how useful it is  

Even if Bitcoin is ill-suited for instant money transfer, there are a few things that make it (and some alt) unique :
- you are the owner of your coins as long as nobody else knows your private key (so avoid web wallets) ;
- you don't need to trust anybody to store your money ;
- you don't need to be accepted by financial system to receive coins ;
- total amount is capped, and inflation controled meanwhile ;
- there is a good level of anonymity if you stay in legit economy.

So for a value storage system, Bitcoin is a must.

For daily expense, I think we could transfer Bitcoin to a trusted intermediary (bank, Paypal) then use current system. Exposure is limited as you keep owning most part of your coins in your wallet. This is the best of two worlds.

It is time to banking to change their business model.

[youngmike]

Bitcoin is nothing but a money transfer system and not even easy to use compared to Paypal Forget the mass adoption, even 50$ BTC is overpriced when you think about how useful it is  

Even if Bitcoin is ill-suited for instant money transfer, there are a few things that make it (and some alt) unique :
- you are the owner of your coins as long as nobody else knows your private key (so avoid web wallets) ;
- you don't need to trust anybody to store your money ;
- you don't need to be accepted by financial system to receive coins ;
- total amount is capped, and inflation controled meanwhile ;
- there is a good level of anonymity if you stay in legit economy.

So for a value storage system, Bitcoin is a must.

For daily expense, I think we could transfer Bitcoin to a trusted intermediary (bank, Paypal) then use current system. Exposure is limited as you keep owning most part of your coins in your wallet. This is the best of two worlds.

It is time to banking to change their business model.

Typical believer's talk   How retarded you must be to store value in something that can lose all of it's value within hours  

[BitCoinNutJob]

Time to say good buy you think OP?

https://www.youtube.com/watch?v=ohXI3po8hK0

AB agrees.

[creuz]

Bitcoin is nothing but a money transfer system and not even easy to use compared to Paypal Forget the mass adoption, even 50$ BTC is overpriced when you think about how useful it is  

Even if Bitcoin is ill-suited for instant money transfer, there are a few things that make it (and some alt) unique :
- you are the owner of your coins as long as nobody else knows your private key (so avoid web wallets) ;
- you don't need to trust anybody to store your money ;
- you don't need to be accepted by financial system to receive coins ;
- total amount is capped, and inflation controled meanwhile ;
- there is a good level of anonymity if you stay in legit economy.

So for a value storage system, Bitcoin is a must.

For daily expense, I think we could transfer Bitcoin to a trusted intermediary (bank, Paypal) then use current system. Exposure is limited as you keep owning most part of your coins in your wallet. This is the best of two worlds.

It is time to banking to change their business model.

Typical believer's talk   How retarded you must be to store value in something that can lose all of it's value within hours  

Typical greedy daytrader's talk.
How retarded you must be to store value in banks databases, piece of papers or unusable gold that could lose all of it's value within days

Ah and I missed a point : Bitcoin can't be counterfeit

[BitCoinNutJob]

The haters are pretty funny, they come on a bitcoin forum to hate lol.... every mention of the word bitcoin adds more value for or against.

[youngmike]

Bitcoin is nothing but a money transfer system and not even easy to use compared to Paypal Forget the mass adoption, even 50$ BTC is overpriced when you think about how useful it is  

Even if Bitcoin is ill-suited for instant money transfer, there are a few things that make it (and some alt) unique :
- you are the owner of your coins as long as nobody else knows your private key (so avoid web wallets) ;
- you don't need to trust anybody to store your money ;
- you don't need to be accepted by financial system to receive coins ;
- total amount is capped, and inflation controled meanwhile ;
- there is a good level of anonymity if you stay in legit economy.

So for a value storage system, Bitcoin is a must.

For daily expense, I think we could transfer Bitcoin to a trusted intermediary (bank, Paypal) then use current system. Exposure is limited as you keep owning most part of your coins in your wallet. This is the best of two worlds.

It is time to banking to change their business model.

Typical believer's talk   How retarded you must be to store value in something that can lose all of it's value within hours  

Typical greedy daytrader's talk.
How retarded you must be to store value in banks databases, piece of papers or unusable gold that could lose all of it's value within days

Ah and I missed a point : Bitcoin can't be counterfeit

Whatever   I dumped my btcs and alts long time ago  and so did other investors I personally know   It was a nice ride and you must enjoy your bag holdings  
Time to get rich with assets  

[creuz]

Bitcoin is nothing but a money transfer system and not even easy to use compared to Paypal Forget the mass adoption, even 50$ BTC is overpriced when you think about how useful it is  

Even if Bitcoin is ill-suited for instant money transfer, there are a few things that make it (and some alt) unique :
- you are the owner of your coins as long as nobody else knows your private key (so avoid web wallets) ;
- you don't need to trust anybody to store your money ;
- you don't need to be accepted by financial system to receive coins ;
- total amount is capped, and inflation controled meanwhile ;
- there is a good level of anonymity if you stay in legit economy.

So for a value storage system, Bitcoin is a must.

For daily expense, I think we could transfer Bitcoin to a trusted intermediary (bank, Paypal) then use current system. Exposure is limited as you keep owning most part of your coins in your wallet. This is the best of two worlds.

It is time to banking to change their business model.

Typical believer's talk   How retarded you must be to store value in something that can lose all of it's value within hours  

Typical greedy daytrader's talk.
How retarded you must be to store value in banks databases, piece of papers or unusable gold that could lose all of it's value within days

Ah and I missed a point : Bitcoin can't be counterfeit

Whatever   I dumped my btcs and alts long time ago  and so did other investors I personally know   It was a nice ride and you must enjoy your bag holdings  
Time to get rich with assets  

What you do of your life is without interest. And for other investors you personnally know I suppose they live in the same place.
You're right dude, keep your dollars and sell me your BTC.

[Guido]

buy...hodl

that is all

[LiteCoinGuy]

At least that's what I just did, so I believe we are at or very close to the bottom.

Why would we be at the bottom? The selling is just beginning.

Every time a new company like Microsoft offers bitcoin as a payment method, the market gains another auto-seller. There is no reason for the price to increase until this imbalance is corrected. The time to "go long" would be when a major company announces that it will be integrating bitcoin into its payroll options.

could be true....or bitcoin is just dead?  dont know

[ChuckBuck]

Who knows when it's TIME TO BUY?  It could be now, it could be at $100, it could be at $0.01.

Whatever you do, DO NOT SELL!  Worst possible time to do so, especially if you bought coins at the high last year.

Just gotta suck it up, and wait this downward movement out.

OR load up some more a little bit each week.

[inBitweTrust]

Anything before mid 2016 is time to buy .... and after that as well.

[smashing]

Whatever   I dumped my btcs and alts long time ago  and so did other investors I personally know   It was a nice ride and you must enjoy your bag holdings  
Time to get rich with assets  

Then why are you hanging out on this forum?

Look... Bitcoin is digital gold, and a belief system, like many other stores of value. It's many other things too, but thinking of it as digital gold first and foremost is useful. It also reflects how most people are using it (or rather not using it currently).

People with money to invest need to put it somewhere, they need to diversify their investments to control risk, and Bitcoin is as good an investment as any, and may prove to be better than others, or not. It's why I'm putting a percentage of my money into Bitcoin. I also like that I can move money around (across borders) easily and at low cost.

With a finite amount of Bitcoin available (21 million), and gradually over time more and more (mainstream) people coming in to the market to buy it, my bet is that it's going up. Your bet is clearly different and that's fine. Someone has to sell for someone to buy and vice versa.

Remember we are still very early on in the adoption curve - see other technology adoption curves infographic.

Good luck in what you do.

http://s199775.gridserver.com/adoption-curve-different-technologies.jpg

[princesocapuyo]

Everything points for BTC growth, so yeah I guessTIME TO BUY!!
Each day more and more vendors are using BTC and more businesses are "adopting" it as a payment method. It's still a little risky investing so much in BTC though, as it's just starting. I don't buy a lot of BTC yet, but I would definitely NOT sell them as they seem to be the future. If someone got BTC in the first place then I would guess that person believes in them, if not then it's their call, they might be right.

[thirdprize]

I will probably buy some when I feel it has bottomed out.  However, that is still a long way away.  You look at the curves and they are still going down.  Buy today and you will have lost by tomorrow.

[orsotheysaid]

I think now is a good time to dollar cost average in every few days. For example you can set up a recurring purchase on coinbase.

It has been a good idea to do that since sub 500

[Daanie]

It's time to do whatever you want to do. I've seen so many people predict and many times they were wrong, except for a few individuals.

[fvs114]

Who knows when it's TIME TO BUY?  It could be now, it could be at $100, it could be at $0.01.

Whatever you do, DO NOT SELL!  Worst possible time to do so, especially if you bought coins at the high last year.

Just gotta suck it up, and wait this downward movement out.

OR load up some more a little bit each week.

I totally agree. I'll buy some now, and if it'll go to 100, i'll buy more  .

[fewcoins]

I am a permabear and even I was buying after today's low... I am now full leverage long around the 317~ level
We should have a nice pop tomorrow & we are already extremely oversold so whats the point of shorting more when there is a pop/short squeeze in the works soon

[nauane]

It's time to do whatever you want to do. I've seen so many people predict and many times they were wrong, except for a few individuals.

said it all!

[fewcoins]

I am a permabear and even I was buying after today's low... I am now full leverage long around the 317~ level
We should have a nice pop tomorrow & we are already extremely oversold so whats the point of shorting more when there is a pop/short squeeze in the works soon

THE BOUNCE WILL HAVE SHORTERS RACING TO COVER LIKE 
While I'm like 

[NotLambchop]

ouch.

[MicroGuy]

I predict that people are going to wake up and start demanding wage payment in bitcoin.

The "hero adopters" will be those that setup picket lines to pressure companies for the option of paychecks in BTC.

[derpinheimer]

That wont happen, at least not for another year. Right now Bitcoin is still terribly unintuitive and unsafe for general use.

[ChuckBuck]

Come on $300!  Daddy needs to get in on some cheap coins.

Hopefully it hits the $200s by Christmas, need to buy myself some Christmas BTCs for being nice.  

[mmortal03]

People are also selling so that they can deduct their Bitcoin-related capital losses from what they will owe the government for 2014.

[Fernandez]

Come on $300!  Daddy needs to get in on some cheap coins.

Hopefully it hits the $200s by Christmas, need to buy myself some Christmas BTCs for being nice.  

It will, hopefully. I have been trying to buy for sometime and $200s would be awesome.

[twiifm]

I predict that people are going to wake up and start demanding wage payment in bitcoin.

The "hero adopters" will be those that setup picket lines to pressure companies for the option of paychecks in BTC.

Yeah good prediction.  People are gonna demand pay in internet funbux that lost 70% in one year.  Keep drinking the koolaid buddy

[BTCtrader71]

People are also selling so that they can deduct their Bitcoin-related capital losses from what they will owe the government for 2014.

^this

[CoinCidental]

I predict that people are going to wake up and start demanding wage payment in bitcoin.

The "hero adopters" will be those that setup picket lines to pressure companies for the option of paychecks in BTC.

Yeah good prediction.  People are gonna demand pay in internet funbux that lost 70% in one year.  Keep drinking the koolaid buddy

If You mean the advanced new currency that has grown exponentially in the last few years, you would  be right

Up 10,000%+ since 2010?

Them funbux?

[NotLambchop]

...
Up 10,000%+ since 2010?
...

Up 999999999999999999999999999999999999999999999999999999999999999999999999999999% since inception!!1!
Buy Buy Buy!

[thirdprize]

If you guys are buying then either its blind optimism or you have some belief that we are at the bottom of the price drop?  Can I ask what makes you think that?  If you had brought a coin yesterday you could have lost $15 already. 

[ThatDGuy]

If you guys are buying then either its blind optimism or you have some belief that we are at the bottom of the price drop?  Can I ask what makes you think that?  If you had brought a coin yesterday you could have lost $15 already. 

Probably the latter.

[LordSonjai]

If you guys are buying then either its blind optimism or you have some belief that we are at the bottom of the price drop?  Can I ask what makes you think that?  If you had brought a coin yesterday you could have lost $15 already. 

Do you realize the power bitcoin gives us?
I like the idea of optimism I wouldn't consider it blind optimism because for starters its a insult and it is a way to belittle me for believing in something you cannot afford.

[exoton]

If you guys are buying then either its blind optimism or you have some belief that we are at the bottom of the price drop?  Can I ask what makes you think that?  If you had brought a coin yesterday you could have lost $15 already. 

Do you realize the power bitcoin gives us?
I like the idea of optimism I wouldn't consider it blind optimism because for starters its a insult and it is a way to belittle me for believing in something you cannot afford.

It sounds like for you it is blind optimism. I suspect the same is probably true for many others as well.

the fact that bitcoin will rise substantially in the future is far from certain and there are a number of risks involved in buying/owning bicoin

[LordSonjai]

If you guys are buying then either its blind optimism or you have some belief that we are at the bottom of the price drop?  Can I ask what makes you think that?  If you had brought a coin yesterday you could have lost $15 already.  

Do you realize the power bitcoin gives us?
I like the idea of optimism I wouldn't consider it blind optimism because for starters its a insult and it is a way to belittle me for believing in something you cannot afford.

It sounds like for you it is blind optimism. I suspect the same is probably true for many others as well.

the fact that bitcoin will rise substantially in the future is far from certain and there are a number of risks involved in buying/owning bicoin

Blind optimism sounds like a load of crap,sorry bud. The term is made up for one. Secondly if I am interpreting it correctly it would mean I am optimistic about bitcoin for no reason.Or possibly I am optimistic but blind to all the risks of bitcoin. Well,if I am interpreting your terminology perhaps I am not so blind now am I?Thirdly and last of all,Your whole sentence is fucked up honestly,it just subjective,far from certain? Tell me what in life is certain?(rhetoric) And you put emphasis on the uncertainty of bitcoin by using the word FAR conjoined with FROM. WOOOOO. Got news for you Bradley,nothing in life is certain.

 Sometimes you get a jack,sometimes you get a queen,only way to find out is tot play.

Either way the term doesnt really correlate,how could someone be blind toward bitcoin and be optimistic. Just another Zero talking out of his ass.

 You aren telling me anything I don't know. Difference between me and you? I do things,you talk about doing things. You just sit on your ass and watch. Get your pom poms out and just cheerlead for time bitcoin. We are the future.

[Biodom]

That wont happen, at least not for another year. Right now Bitcoin is still terribly unintuitive and unsafe for general use.

Unintuitive... and so was the potato when first introduced because because you can cook what is underground, not what is outside (poisonous).

Download breadwallet and see how unintuitive it is (hint: piece of cake or potato?).

[exoton]

If you guys are buying then either its blind optimism or you have some belief that we are at the bottom of the price drop?  Can I ask what makes you think that?  If you had brought a coin yesterday you could have lost $15 already.  

Do you realize the power bitcoin gives us?
I like the idea of optimism I wouldn't consider it blind optimism because for starters its a insult and it is a way to belittle me for believing in something you cannot afford.

It sounds like for you it is blind optimism. I suspect the same is probably true for many others as well.

the fact that bitcoin will rise substantially in the future is far from certain and there are a number of risks involved in buying/owning bicoin

Blind optimism sounds like a load of crap,sorry bud. The term is made up for one. Secondly if I am interpreting it correctly it would mean I am optimistic about bitcoin for no reason.Or possibly I am optimistic but blind to all the risks of bitcoin. Well,if I am interpreting your terminology perhaps I am not so blind now am I?Thirdly and last of all,Your whole sentence is fucked up honestly,it just subjective,far from certain? Tell me what in life is certain?(rhetoric) And you put emphasis on the uncertainty of bitcoin by using the word FAR conjoined with FROM. WOOOOO. Got news for you Bradley,nothing in life is certain.

 Sometimes you get a jack,sometimes you get a queen,only way to find out is tot play.

Either way the term doesnt really correlate,how could someone be blind toward bitcoin and be optimistic. Just another Zero talking out of his ass.

 You aren telling me anything I don't know. Difference between me and you? I do things,you talk about doing things. You just sit on your ass and watch. Get your pom poms out and just cheerlead for time bitcoin. We are the future.

[ignoring your nazi grammar comments]

Blind optimism is when someone is optimistic when disregarding relevant facts, including additional facts that have come to light since your original stance.

[LordSonjai]

If you guys are buying then either its blind optimism or you have some belief that we are at the bottom of the price drop?  Can I ask what makes you think that?  If you had brought a coin yesterday you could have lost $15 already.  

Do you realize the power bitcoin gives us?
I like the idea of optimism I wouldn't consider it blind optimism because for starters its a insult and it is a way to belittle me for believing in something you cannot afford.

It sounds like for you it is blind optimism. I suspect the same is probably true for many others as well.

the fact that bitcoin will rise substantially in the future is far from certain and there are a number of risks involved in buying/owning bicoin

Blind optimism sounds like a load of crap,sorry bud. The term is made up for one. Secondly if I am interpreting it correctly it would mean I am optimistic about bitcoin for no reason.Or possibly I am optimistic but blind to all the risks of bitcoin. Well,if I am interpreting your terminology perhaps I am not so blind now am I?Thirdly and last of all,Your whole sentence is fucked up honestly,it just subjective,far from certain? Tell me what in life is certain?(rhetoric) And you put emphasis on the uncertainty of bitcoin by using the word FAR conjoined with FROM. WOOOOO. Got news for you Bradley,nothing in life is certain.

 Sometimes you get a jack,sometimes you get a queen,only way to find out is tot play.

Either way the term doesnt really correlate,how could someone be blind toward bitcoin and be optimistic. Just another Zero talking out of his ass.

 You aren telling me anything I don't know. Difference between me and you? I do things,you talk about doing things. You just sit on your ass and watch. Get your pom poms out and just cheerlead for time bitcoin. We are the future.

[ignoring your nazi grammar comments]

Blind optimism is when someone is optimistic when disregarding relevant facts, including additional facts that have come to light since your original stance.

WHAT? HOW CAN SOMEONE DISREGARD FACTS? IF THEY ARE BLIND TO THEM THEY WOULDNT KNOW THEY ARE FACTS???THEREFOR THIS DOESNT MAKE ANY SENSE SHUT THE FUCK UP
THIS GUY LMAO JUST TRYING TO SOUND SMART WHEN HE IS REALLY A BROKE DUMBASS ON A BITCOIN FORUM BUT DOESNT EVEN OWN BITCOIN WHAT KIND OF SHIT IS THIS?

[exoton]

If you guys are buying then either its blind optimism or you have some belief that we are at the bottom of the price drop?  Can I ask what makes you think that?  If you had brought a coin yesterday you could have lost $15 already.  

Do you realize the power bitcoin gives us?
I like the idea of optimism I wouldn't consider it blind optimism because for starters its a insult and it is a way to belittle me for believing in something you cannot afford.

It sounds like for you it is blind optimism. I suspect the same is probably true for many others as well.

the fact that bitcoin will rise substantially in the future is far from certain and there are a number of risks involved in buying/owning bicoin

Blind optimism sounds like a load of crap,sorry bud. The term is made up for one. Secondly if I am interpreting it correctly it would mean I am optimistic about bitcoin for no reason.Or possibly I am optimistic but blind to all the risks of bitcoin. Well,if I am interpreting your terminology perhaps I am not so blind now am I?Thirdly and last of all,Your whole sentence is fucked up honestly,it just subjective,far from certain? Tell me what in life is certain?(rhetoric) And you put emphasis on the uncertainty of bitcoin by using the word FAR conjoined with FROM. WOOOOO. Got news for you Bradley,nothing in life is certain.

 Sometimes you get a jack,sometimes you get a queen,only way to find out is tot play.

Either way the term doesnt really correlate,how could someone be blind toward bitcoin and be optimistic. Just another Zero talking out of his ass.

 You aren telling me anything I don't know. Difference between me and you? I do things,you talk about doing things. You just sit on your ass and watch. Get your pom poms out and just cheerlead for time bitcoin. We are the future.

[ignoring your nazi grammar comments]

Blind optimism is when someone is optimistic when disregarding relevant facts, including additional facts that have come to light since your original stance.

WHAT? HOW CAN SOMEONE DISREGARD FACTS? IF THEY ARE BLIND TO THEM THEY WOULDNT KNOW THEY ARE FACTS???THEREFOR THIS DOESNT MAKE ANY SENSE SHUT THE FUCK UP
THIS GUY LMAO JUST TRYING TO SOUND SMART WHEN HE IS REALLY A BROKE DUMBASS ON A BITCOIN FORUM BUT DOESNT EVEN OWN BITCOIN WHAT KIND OF SHIT IS THIS?

I don't think you are understanding my point. The point is that blind optimism is that, regardless of the facts surrounding a situation, they will take a specific stance. It is not that they do not know that something is a fact, it is that they do not take the fact into consideration.

[jaredboice]

Blind pessimism is when someone is pessimistic when disregarding relevant facts, including additional facts that have come to light since your original stance.

care to take a guess on how that sentence could read if we simply again replace the variable-word pessimism with troll?

[tabnloz]

Bitcoin is nothing but a money transfer system and not even easy to use compared to Paypal Forget the mass adoption, even 50$ BTC is overpriced when you think about how useful it is  

Even if Bitcoin is ill-suited for instant money transfer, there are a few things that make it (and some alt) unique :
- you are the owner of your coins as long as nobody else knows your private key (so avoid web wallets) ;
- you don't need to trust anybody to store your money ;
- you don't need to be accepted by financial system to receive coins ;
- total amount is capped, and inflation controled meanwhile ;
- there is a good level of anonymity if you stay in legit economy.

So for a value storage system, Bitcoin is a must.

For daily expense, I think we could transfer Bitcoin to a trusted intermediary (bank, Paypal) then use current system. Exposure is limited as you keep owning most part of your coins in your wallet. This is the best of two worlds.

It is time to banking to change their business model.

Typical believer's talk   How retarded you must be to store value in something that can lose all of it's value within hours  

Bitcoin is not just a payment system. It is decentralized consensus. It is programmable, better money.

However it does not completely work as money yet as it isn't a real stable store of value at the moment.

The coin is the security of the blockchain and it is expensive to maintain; this is the challenge faced by the bitcoin economy.

It is a battle.

[NotLambchop]

...It is programmable, better money.
...

That's Bitcoin's biggest problem--it's algorithmically predetermined, it is preprogrammed.  The local paranoid fringe would have you believe that it's a good thing, but it ain't.

Think of it as a clockwork guidance system:  instead of reacting to the terrain like an IRL driver, it only reads instructions from a piano roll: forward two feet, turn 12 degrees left, halve block reward, and so on.  If something gets in its path, there is no way to avoid it, no way alter the course.
Theoretically, it is possible:  If the entire bitcoin network comes to a consensus.  That's like driving a car by consensus--by the time consensus is reached, you're already flying through the windshield.

In short, Bitcoin's a throwback to the days of gold and cowrie shells--when money supply was inelastic & controlled by scarcity.

Modern money is more complex.  It depends on elasticity of supply, which, in turn, depends of having IRL people at the helm.
The Luddite need to undo centuries of innovation to return to cowrie shells seems attractive--everyone understands how cowrie shells work, and simple must be good, amirite?  Why spend years studying economics when a bit of horse sense is enough?  The problem's it ain't

[exoton]

...It is programmable, better money.
...

That's Bitcoin's biggest problem--it's algorithmically predetermined, it is preprogrammed.  The local paranoid fringe would have you believe that it's a good thing, but it ain't.

Think of it as a clockwork guidance system:  instead of reacting to the terrain like an IRL driver, it only reads instructions from a piano roll: forward two feet, turn 12 degrees left, halve block reward, and so on.  If something gets in its path, there is no way to avoid it, no way alter the course.
Theoretically, it is possible:  If the entire bitcoin network comes to a consensus.  That's like driving a car by consensus--by the time consensus is reached, you're already flying through the windshield.

In short, Bitcoin's a throwback to the days of gold and cowrie shells--when money supply was inelastic & controlled by scarcity.

Modern money is more complex.  It depends on elasticity of supply, which, in turn, depends of having IRL people at the helm.
The Luddite need to undo centuries of innovation to return to cowrie shells seems attractive--everyone understands how cowrie shells work, and simple must be good, amirite?  Why spend years studying economics when a bit of horse sense is enough?  The problem's it ain't

To be fair, it is possible to change the "program" (aka the protocol) to adapt to changes in the environment (aka fork the network). This has been done before and will almost certainly happen in the future. Modern money does not need to react quickly and can take it's time to change

[NotLambchop]

...To be fair, it is possible to change the "program" (aka the protocol) to adapt to changes in the environment (aka fork the network). This has been done before and will almost certainly happen in the future. Modern money does not need to react quickly and can take it's time to change

The things that need to be changed, like rate of emission/inflation (block rewards/block reward halving rate) are very difficult to change through consensus.  Miners won't want to make less coin just because some egghead tells them it's for the greater good.

[jaredboice]

NotLambchop: "This user is currently ignored." 

[barabbas]

Wow this is evolving into quite a mess...

The point of the OP was to state that, in my opinion, the price of BTC was stabilizing at these low levels from which -again, in my opinion-, it will spring upside for very significant gains in the near future, with plenty of swing-trade opportunities from higher highs.

The philosophical and technological aspects of the currency-commodity/whatever notwithstanding.

[ThatDGuy]

Wow this is evolving into quite a mess...

Trolls have that effect on threads

The point of the OP was to state that, in my opinion, the price of BTC was stabilizing at these low levels from which -again, in my opinion-, it will spring upside for very significant gains in the near future, with plenty of swing-trade opportunities from higher highs.

This is the feeling the last few weeks have had, for sure

[Gianluca95]

Agree with you. Now is the time to buy and HODL for better times, it's a very bad decision to sell, (Said this in another OP). Anyway, rules is always the same: Don't try to invest more that you can lose. So, keep calm and wait for the raising !

[FatherBob]

...
Trolls have that effect on threads
...

Don't mistake logic for trolling, my son.

...It is programmable, better money.
...

That's Bitcoin's biggest problem--it's algorithmically predetermined, it is preprogrammed.  The local paranoid fringe would have you believe that it's a good thing, but it ain't.

Think of it as a clockwork guidance system:  instead of reacting to the terrain like an IRL driver, it only reads instructions from a piano roll: forward two feet, turn 12 degrees left, halve block reward, and so on.  If something gets in its path, there is no way to avoid it, no way alter the course.
Theoretically, it is possible:  If the entire bitcoin network comes to a consensus.  That's like driving a car by consensus--by the time consensus is reached, you're already flying through the windshield.

In short, Bitcoin's a throwback to the days of gold and cowrie shells--when money supply was inelastic & controlled by scarcity.

Modern money is more complex.  It depends on elasticity of supply, which, in turn, depends of having IRL people at the helm.
The Luddite need to undo centuries of innovation to return to cowrie shells seems attractive--everyone understands how cowrie shells work, and simple must be good, amirite?  Why spend years studying economics when a bit of horse sense is enough?  The problem's it ain't

  ~Rev. FatherBob

[jaredboice]

FatherBob: "This user is currently ignored." 

[FatherBob]

Your faggatry dwarfs the depravity of Sodom and Gomorrah, my child!

  ~Rev. FatherBob

[jaredboice]

^Serial Troll

[bornil267645]

TIME TO INVEST!!!

THAT SHOULD BE THE MOTTO!!!

[yefi]

...It is programmable, better money.
...

That's Bitcoin's biggest problem--it's algorithmically predetermined, it is preprogrammed.  The local paranoid fringe would have you believe that it's a good thing, but it ain't.

Think of it as a clockwork guidance system:  instead of reacting to the terrain like an IRL driver, it only reads instructions from a piano roll: forward two feet, turn 12 degrees left, halve block reward, and so on.  If something gets in its path, there is no way to avoid it, no way alter the course.
Theoretically, it is possible:  If the entire bitcoin network comes to a consensus.  That's like driving a car by consensus--by the time consensus is reached, you're already flying through the windshield.

In short, Bitcoin's a throwback to the days of gold and cowrie shells--when money supply was inelastic & controlled by scarcity.

Modern money is more complex.  It depends on elasticity of supply, which, in turn, depends of having IRL people at the helm.
The Luddite need to undo centuries of innovation to return to cowrie shells seems attractive--everyone understands how cowrie shells work, and simple must be good, amirite?  Why spend years studying economics when a bit of horse sense is enough?  The problem's it ain't

At least a car that is driverless is predictable by the laws of motion. Further, are we really capable of driving this machine? Centuries of innovation may give us the impression that we have refined control, but I am not one for ever underestimating the hubris of man...

[NotLambchop]

...It is programmable, better money.
...

That's Bitcoin's biggest problem--it's algorithmically predetermined, it is preprogrammed.  The local paranoid fringe would have you believe that it's a good thing, but it ain't.

Think of it as a clockwork guidance system:  instead of reacting to the terrain like an IRL driver, it only reads instructions from a piano roll: forward two feet, turn 12 degrees left, halve block reward, and so on.  If something gets in its path, there is no way to avoid it, no way alter the course.
Theoretically, it is possible:  If the entire bitcoin network comes to a consensus.  That's like driving a car by consensus--by the time consensus is reached, you're already flying through the windshield.

In short, Bitcoin's a throwback to the days of gold and cowrie shells--when money supply was inelastic & controlled by scarcity.

Modern money is more complex.  It depends on elasticity of supply, which, in turn, depends of having IRL people at the helm.
The Luddite need to undo centuries of innovation to return to cowrie shells seems attractive--everyone understands how cowrie shells work, and simple must be good, amirite?  Why spend years studying economics when a bit of horse sense is enough?  The problem's it ain't

At least a car that is driverless is predictable by the laws of motion.

Absolutely.
Now imagine yourself strapped into the driver's seat, your hands tied behind your back & a comforting "YOU'LL BE JUST FINE, BRAH" flashing sign where the steering column used to be, as it accelerates towards a [newly built] brick wall.  You know exactly what's going to happen, in macabrely minute detail, because laws of motion.

Further, are we really capable of driving this machine? Centuries of innovation may give us the impression that we have refined control, but I am not one for ever underestimating the hubris of man...

If man doesn't even know how to drive a car, today, hardwiring how cars will be driven in the future is just...

[yefi]

Absolutely.
Now imagine yourself strapped into the driver's seat, your hands tied behind your back & a comforting "YOU'LL BE JUST FINE, BRAH" flashing sign where the steering column used to be, as it accelerates towards a [newly built] brick wall.  You know exactly what's going to happen, in macabrely minute detail, because laws of motion.

Should be the rite of initiation into manhood. Instead wimps like us swerve and breathe a sigh of relief, but the wall in our rear mirror doesn't vanish nor does it stop being built. Eventually, we will have no choice but to confront it, and when we do our pain will be all the greater. The intractable path of our linear machine is actually a hidden blessing.

If man doesn't even know how to drive a car, today, hardwiring how cars will be driven in the future is just...

Elasticity isn't hardwired which is the element of driving. The rate of inflation is hardwired which is probably like the velocity of the car or some other attribute. It's pretty arbitrarily set, and may (or may not) prove problematic.

[BlindMayorBitcorn]

...It is programmable, better money.
...

That's Bitcoin's biggest problem--it's algorithmically predetermined, it is preprogrammed.  The local paranoid fringe would have you believe that it's a good thing, but it ain't.

Think of it as a clockwork guidance system:  instead of reacting to the terrain like an IRL driver, it only reads instructions from a piano roll: forward two feet, turn 12 degrees left, halve block reward, and so on.  If something gets in its path, there is no way to avoid it, no way alter the course.
Theoretically, it is possible:  If the entire bitcoin network comes to a consensus.  That's like driving a car by consensus--by the time consensus is reached, you're already flying through the windshield.

In short, Bitcoin's a throwback to the days of gold and cowrie shells--when money supply was inelastic & controlled by scarcity.

Modern money is more complex.  It depends on elasticity of supply, which, in turn, depends of having IRL people at the helm.
The Luddite need to undo centuries of innovation to return to cowrie shells seems attractive--everyone understands how cowrie shells work, and simple must be good, amirite?  Why spend years studying economics when a bit of horse sense is enough?  The problem's it ain't

I never do this, but:

+1

[ChuckBuck]

...It is programmable, better money.
...

That's Bitcoin's biggest problem--it's algorithmically predetermined, it is preprogrammed.  The local paranoid fringe would have you believe that it's a good thing, but it ain't.

Think of it as a clockwork guidance system:  instead of reacting to the terrain like an IRL driver, it only reads instructions from a piano roll: forward two feet, turn 12 degrees left, halve block reward, and so on.  If something gets in its path, there is no way to avoid it, no way alter the course.
Theoretically, it is possible:  If the entire bitcoin network comes to a consensus.  That's like driving a car by consensus--by the time consensus is reached, you're already flying through the windshield.

In short, Bitcoin's a throwback to the days of gold and cowrie shells--when money supply was inelastic & controlled by scarcity.

Modern money is more complex.  It depends on elasticity of supply, which, in turn, depends of having IRL people at the helm.
The Luddite need to undo centuries of innovation to return to cowrie shells seems attractive--everyone understands how cowrie shells work, and simple must be good, amirite?  Why spend years studying economics when a bit of horse sense is enough?  The problem's it ain't

I never do this, but:

+1

Trolls +1'ing trolls, got it!   

I guess you two never heard of a "hard fork", or building an application on top of the Bitcoin blockchain protocol layer to address a process or need.

Yea, Bitcoin's stuck in mud and isn't programmable.  Wait, what's that?!!  It's open source?!!   

Nevermind.

[NotLambchop]

...
Yea, Bitcoin's stuck in mud and isn't programmable.  Wait, what's that?!!  It's open source?!!  

Nevermind.

Why is it people here use the phrase "open source" as if it was "abracadabra!"  Open source is not magic, a hard fork offering lower block rewards will not be mined

[brg444]

Modern money is more complex.  It depends on elasticity of supply, which, in turn, depends of having IRL people at the helm.
The Luddite need to undo centuries of innovation to return to cowrie shells seems attractive--everyone understands how cowrie shells work, and simple must be good, amirite?  Why spend years studying economics when a bit of horse sense is enough?  The problem's it ain't

Anything that depends on humans and centralized planning is a failure waiting to happen.

Your elastic supply money is ending with the fiat experiment. Elastic supply is just an excuse to print more money to serve a certain minority's interest.

[NotLambchop]

Modern money is more complex.  It depends on elasticity of supply, which, in turn, depends of having IRL people at the helm.
The Luddite need to undo centuries of innovation to return to cowrie shells seems attractive--everyone understands how cowrie shells work, and simple must be good, amirite?  Why spend years studying economics when a bit of horse sense is enough?  The problem's it ain't

Anything that depends on humans and centralized planning is a failure waiting to happen...

/human race

[ChuckBuck]

...
Yea, Bitcoin's stuck in mud and isn't programmable.  Wait, what's that?!!  It's open source?!!  

Nevermind.

Why is it people here use the phrase "open source" as if it was "abracadabra!"  Open source is not magic, a hard fork offering lower block rewards will not be mined

Bitcoin has been forked twice I believe, in 2010 and 2013, so it's not unprecedented.

I think Gavin had proposed forking Bitcoin recently once again in the near future, to allow for scale as daily transactions grow infinitely each year:

http://www.coindesk.com/gavin-andresen-bitcoin-hard-fork/

He even replied frequently here in this Bitcointalk thread to explain and back his stance:

https://bitcointalk.org/index.php?topic=816298.0

[NotLambchop]

...
Yea, Bitcoin's stuck in mud and isn't programmable.  Wait, what's that?!!  It's open source?!!  

Nevermind.

Why is it people here use the phrase "open source" as if it was "abracadabra!"  Open source is not magic, a hard fork offering lower block rewards will not be mined

Bitcoin has been forked twice I believe, in 2010 and 2013, so it's not unprecedented.

I think Gavin had proposed forking Bitcoin recently once again in the near future, to allow for scale as daily transactions grow infinitely each year:

http://www.coindesk.com/gavin-andresen-bitcoin-hard-fork/

He even replied frequently here in this Bitcointalk thread to explain and back his stance:

https://bitcointalk.org/index.php?topic=816298.0

Hard forks are possible, but the ones which would help Bitcoin are not.  See red bold text.

[ChuckBuck]

...
Yea, Bitcoin's stuck in mud and isn't programmable.  Wait, what's that?!!  It's open source?!!  

Nevermind.

Why is it people here use the phrase "open source" as if it was "abracadabra!"  Open source is not magic, a hard fork offering lower block rewards will not be mined

Bitcoin has been forked twice I believe, in 2010 and 2013, so it's not unprecedented.

I think Gavin had proposed forking Bitcoin recently once again in the near future, to allow for scale as daily transactions grow infinitely each year:

http://www.coindesk.com/gavin-andresen-bitcoin-hard-fork/

He even replied frequently here in this Bitcointalk thread to explain and back his stance:

https://bitcointalk.org/index.php?topic=816298.0

Hard forks are possible, but the ones which would help Bitcoin are not.  See red bold text.

I think there were 2 logical explanations on the thread I linked:

Can someone post a non technical dummies guide to what the changes will be?

Do the changes mean less miners reward?

Explain it like I'm 5 version:


The size of the "closet" (block) that is "created" (mined) every 10 minutes will be increased so that more "clothes" (transactions) can fit in each "closet" (block).

Of course bigger "closets" (blocks) also need more space to "store" (MB's per block) all those created closets.

This does not necessarily mean that miners will get paid less, but it will be easier for them to include more "clothes" (transactions) into each "closet" (block). Miners will always charge what they want for a transaction, the market will take care of the rest.
=====================================================================

Each block will still reward 25 bitcoins to the miner that generates the block (that continues to lower per halvening as scheduled). The only thing can MIGHT change is how much transaction fee is paid per transaction.

Can someone post a non technical dummies guide to what the changes will be?

Do the changes mean less miners reward?

Any time you send a TX, it must be included in a block that is found by the miners. The TX that you create takes up a certain amount of space in the block based on how many addresses you are sending the money to and how many different people sent you the money you are spending.

As it is now there is a 1 MB limit as to how much space each block can hold. This limits the number of transactions to roughly 7 per second as if more transactions are sent there would not be enough space in each block.

The change being proposed is to gradually increase the maximum block size so that more transactions can fit in each confirmed block

So with this hard fork proposal, it'd still be 25 BTC per block, just transaction fees would be a little more.

[NotLambchop]

^
A tangent?  Sure, hard forks are possible, but not the ones which are needed.  Addresses the red boldface text.

[ChuckBuck]

^
A tangent?  Sure, hard forks are possible, but not the ones which are needed.  Addresses the red boldface text.

Which tangent?  Block rewards wouldn't change for the miners, just transaction fees.

A hard fork would address many so called issues with scale and transactions per second limited by the current 1mb size per block.

[NotLambchop]

^
A tangent?  Sure, hard forks are possible, but not the ones which are needed.  Addresses the red boldface text.

Which tangent?  Block rewards wouldn't change for the miners, just transaction fees.

A hard fork would address many so called issues with scale and transactions per second limited by the current 1mb size per block.

Let's take this one step at a time.
1.  The block rewards are too high--too much coin is being produced, Bitcoin is unable to maintain price @ 14-15% monetary base inflation.
2.  A real currency like USD, with IRL people at the helm, would limit issuance in such times to counter the falling price.
3.  BTC can't do it with a hard fork--miners wouldn't mine the fork in which the block rewards are lower--see red text.
4.  You posted a fork which does not change the block reward & does nothing to address this issue.

[inca]

^
A tangent?  Sure, hard forks are possible, but not the ones which are needed.  Addresses the red boldface text.

Which tangent?  Block rewards wouldn't change for the miners, just transaction fees.

A hard fork would address many so called issues with scale and transactions per second limited by the current 1mb size per block.

Let's take this one step at a time.
1.  The block rewards are too high--too much coin is being produced, Bitcoin is unable to maintain price @ 14-15% monetary base inflation.
2.  A real currency like USD, with IRL people at the helm, would limit issuance in such times to counter the falling price.
3.  BTC can't do it with a hard fork--miners wouldn't mine the fork in which the block rewards are lower--see red text.
4.  You posted a fork which does not change the block reward & does nothing to address this issue.

How much was the block reward 2 years ago? How high was bitcoin inflation 2 years ago? Did bitcoin manage to maintain the exchange price?

[NotLambchop]

^
A tangent?  Sure, hard forks are possible, but not the ones which are needed.  Addresses the red boldface text.

Which tangent?  Block rewards wouldn't change for the miners, just transaction fees.

A hard fork would address many so called issues with scale and transactions per second limited by the current 1mb size per block.

Let's take this one step at a time.
1.  The block rewards are too high--too much coin is being produced, Bitcoin is unable to maintain price @ 14-15% monetary base inflation.
2.  A real currency like USD, with IRL people at the helm, would limit issuance in such times to counter the falling price.
3.  BTC can't do it with a hard fork--miners wouldn't mine the fork in which the block rewards are lower--see red text.
4.  You posted a fork which does not change the block reward & does nothing to address this issue.

How much was the block reward 2 years ago? How high was bitcoin inflation 2 years ago? Did bitcoin manage to maintain the exchange price?

Which part of "BTC can't [drop block rewards] with a hard fork--miners wouldn't mine the fork in which the block rewards are lower" do you find difficult to grasp?
I'm trying to explain the basics of contemporary economics to you Bitcoiners, as if you were five.
I've got plenty of patience, but you must be willing to learn.

[ChuckBuck]

^
A tangent?  Sure, hard forks are possible, but not the ones which are needed.  Addresses the red boldface text.

Which tangent?  Block rewards wouldn't change for the miners, just transaction fees.

A hard fork would address many so called issues with scale and transactions per second limited by the current 1mb size per block.

Let's take this one step at a time.
1.  The block rewards are too high--too much coin is being produced, Bitcoin is unable to maintain price @ 14-15% monetary base inflation.
2.  A real currency like USD, with IRL people at the helm, would limit issuance in such times to counter the falling price.
3.  BTC can't do it with a hard fork--miners wouldn't mine the fork in which the block rewards are lower--see red text.
4.  You posted a fork which does not change the block reward & does nothing to address this issue.

The proposed hard fork is intended to be tested and possibly released within the year, before the year 2016 block halving, in which the block reward would be 12.5 BTC instead of the "too high" 25 BTC.

It's been done twice before in 2010 and 2013, why can't these same miners adjust to the new chain once again?

The new fork isn't supposed to change the block reward, there's nothing wrong with the original protocol that halves the block reward every 4 years.

The new fork addresses the issue of scale and transactions per second, which at 1MB and 7TPS isn't enough with continued growth.

Some other changes that are being tested and planned with the proposal:

https://en.bitcoin.it/wiki/Hardfork_Wishlist

[NotLambchop]

^
A tangent?  Sure, hard forks are possible, but not the ones which are needed.  Addresses the red boldface text.

Which tangent?  Block rewards wouldn't change for the miners, just transaction fees.

A hard fork would address many so called issues with scale and transactions per second limited by the current 1mb size per block.

Let's take this one step at a time.
1.  The block rewards are too high--too much coin is being produced, Bitcoin is unable to maintain price @ 14-15% monetary base inflation.
2.  A real currency like USD, with IRL people at the helm, would limit issuance in such times to counter the falling price.
3.  BTC can't do it with a hard fork--miners wouldn't mine the fork in which the block rewards are lower--see red text.
4.  You posted a fork which does not change the block reward & does nothing to address this issue.

The proposed hard fork is intended to be tested and possibly released within the year, before the year 2016 block halving, in which the block reward would be 12.5 BTC instead of the "too high" 25 BTC...

But the change isn't needed in a year.  It's needed now.  Hence the falling price.
IRL money can adjust for this in a timely fashion, and you're compiling wishlists for possibly doing something in more than a year's time.

This is exactly what I mean by "driving a car by consensus"--there's a good chance you'll come into positive & constructive engagement with a telephone pole before then

[ChuckBuck]

^
A tangent?  Sure, hard forks are possible, but not the ones which are needed.  Addresses the red boldface text.

Which tangent?  Block rewards wouldn't change for the miners, just transaction fees.

A hard fork would address many so called issues with scale and transactions per second limited by the current 1mb size per block.

Let's take this one step at a time.
1.  The block rewards are too high--too much coin is being produced, Bitcoin is unable to maintain price @ 14-15% monetary base inflation.
2.  A real currency like USD, with IRL people at the helm, would limit issuance in such times to counter the falling price.
3.  BTC can't do it with a hard fork--miners wouldn't mine the fork in which the block rewards are lower--see red text.
4.  You posted a fork which does not change the block reward & does nothing to address this issue.

The proposed hard fork is intended to be tested and possibly released within the year, before the year 2016 block halving, in which the block reward would be 12.5 BTC instead of the "too high" 25 BTC...

But the change isn't needed in a year.  It's needed now.  Hence the falling price.
IRL money can adjust for this in a timely fashion, and you're compiling wishlists for possibly doing something in more than a year's time.

This is exactly what I mean by "driving a car by consensus"--there's a good chance you'll come into positive & constructive engagement with a telephone pole before then

Not sure what the price has to do with hard forks or the Bitcoin code???   

Price is independent of development, always has always will be.  Price has always been tied to Supply/Demand, speculation, whales manipulating etc.

The "wishlist" is to improve and fix bugs within the code long term, sorta like a service pack, a new version, or a new Minecraft release.

Devs will devs, end users and miners alike will likely have to download a new version of Bitcoin Core like in 2010 and 2013, it'll take a couple days to sync, and that's it.

[SquallLeonhart]

i think yes it is time to buy bitcoin
as one of the best investor talking about bitcoin
http://www.businessinsider.com/warren-buffett-money-tips-for-2015-2014-12

this will attract more investors when they know about this
and the bitcoin holders don't care what other say about bitcoin

[NotLambchop]

^
A tangent?  Sure, hard forks are possible, but not the ones which are needed.  Addresses the red boldface text.

Which tangent?  Block rewards wouldn't change for the miners, just transaction fees.

A hard fork would address many so called issues with scale and transactions per second limited by the current 1mb size per block.

Let's take this one step at a time.
1.  The block rewards are too high--too much coin is being produced, Bitcoin is unable to maintain price @ 14-15% monetary base inflation.
2.  A real currency like USD, with IRL people at the helm, would limit issuance in such times to counter the falling price.
3.  BTC can't do it with a hard fork--miners wouldn't mine the fork in which the block rewards are lower--see red text.
4.  You posted a fork which does not change the block reward & does nothing to address this issue.

The proposed hard fork is intended to be tested and possibly released within the year, before the year 2016 block halving, in which the block reward would be 12.5 BTC instead of the "too high" 25 BTC...

But the change isn't needed in a year.  It's needed now.  Hence the falling price.
IRL money can adjust for this in a timely fashion, and you're compiling wishlists for possibly doing something in more than a year's time.

This is exactly what I mean by "driving a car by consensus"--there's a good chance you'll come into positive & constructive engagement with a telephone pole before then

Not sure what the price has to do with hard forks or the Bitcoin code???   ...

It has nothing to do with development, it has much to do with the number of coins mined per day & showing up on exchanges.  I'm going to make myself another coffee, overcoming this much ignorance is going to take a while

In the meantime, you can reread my post about clockwork guidance systems.  V1 had one of those, BTW

[ChuckBuck]

^
A tangent?  Sure, hard forks are possible, but not the ones which are needed.  Addresses the red boldface text.

Which tangent?  Block rewards wouldn't change for the miners, just transaction fees.

A hard fork would address many so called issues with scale and transactions per second limited by the current 1mb size per block.

Let's take this one step at a time.
1.  The block rewards are too high--too much coin is being produced, Bitcoin is unable to maintain price @ 14-15% monetary base inflation.
2.  A real currency like USD, with IRL people at the helm, would limit issuance in such times to counter the falling price.
3.  BTC can't do it with a hard fork--miners wouldn't mine the fork in which the block rewards are lower--see red text.
4.  You posted a fork which does not change the block reward & does nothing to address this issue.

The proposed hard fork is intended to be tested and possibly released within the year, before the year 2016 block halving, in which the block reward would be 12.5 BTC instead of the "too high" 25 BTC...

But the change isn't needed in a year.  It's needed now.  Hence the falling price.
IRL money can adjust for this in a timely fashion, and you're compiling wishlists for possibly doing something in more than a year's time.

This is exactly what I mean by "driving a car by consensus"--there's a good chance you'll come into positive & constructive engagement with a telephone pole before then

Not sure what the price has to do with hard forks or the Bitcoin code???   ...

It has nothing to do with development, it has much to do with the number of coins mined per day & showing up on exchanges.  I'm going to make myself another coffee, overcoming this much ignorance is going to take a while

In the meantime, you can reread my post about clockwork guidance systems.  V1 had one of those, BTW

But what would the number of coins mined per day have to do with the declining price?

It didn't really matter when it changed from 50 BTC halving to 25 BTC.  Traders will trade, programmers will program.  Price is a market condition, not a development condition.

[brg444]

^
A tangent?  Sure, hard forks are possible, but not the ones which are needed.  Addresses the red boldface text.

Which tangent?  Block rewards wouldn't change for the miners, just transaction fees.

A hard fork would address many so called issues with scale and transactions per second limited by the current 1mb size per block.

Let's take this one step at a time.
1.  The block rewards are too high--too much coin is being produced, Bitcoin is unable to maintain price @ 14-15% monetary base inflation.
2.  A real currency like USD, with IRL people at the helm, would limit issuance in such times to counter the falling price.
3.  BTC can't do it with a hard fork--miners wouldn't mine the fork in which the block rewards are lower--see red text.
4.  You posted a fork which does not change the block reward & does nothing to address this issue.

How much was the block reward 2 years ago? How high was bitcoin inflation 2 years ago? Did bitcoin manage to maintain the exchange price?

Which part of "BTC can't [drop block rewards] with a hard fork--miners wouldn't mine the fork in which the block rewards are lower" do you find difficult to grasp?
I'm trying to explain the basics of contemporary economics to you Bitcoiners, as if you were five.
I've got plenty of patience, but you must be willing to learn.

 

Fantastic attempt to deviate from the obvious fallacy in your argument.

The block reward was twice as high 2 years ago yet Bitcoin managed to survive.

Can you explain 

[inca]

^
A tangent?  Sure, hard forks are possible, but not the ones which are needed.  Addresses the red boldface text.

Which tangent?  Block rewards wouldn't change for the miners, just transaction fees.

A hard fork would address many so called issues with scale and transactions per second limited by the current 1mb size per block.

Let's take this one step at a time.
1.  The block rewards are too high--too much coin is being produced, Bitcoin is unable to maintain price @ 14-15% monetary base inflation.
2.  A real currency like USD, with IRL people at the helm, would limit issuance in such times to counter the falling price.
3.  BTC can't do it with a hard fork--miners wouldn't mine the fork in which the block rewards are lower--see red text.
4.  You posted a fork which does not change the block reward & does nothing to address this issue.

The proposed hard fork is intended to be tested and possibly released within the year, before the year 2016 block halving, in which the block reward would be 12.5 BTC instead of the "too high" 25 BTC...

But the change isn't needed in a year.  It's needed now.  Hence the falling price.
IRL money can adjust for this in a timely fashion, and you're compiling wishlists for possibly doing something in more than a year's time.

This is exactly what I mean by "driving a car by consensus"--there's a good chance you'll come into positive & constructive engagement with a telephone pole before then

Not sure what the price has to do with hard forks or the Bitcoin code???   ...

It has nothing to do with development, it has much to do with the number of coins mined per day & showing up on exchanges.  I'm going to make myself another coffee, overcoming this much ignorance is going to take a while

In the meantime, you can reread my post about clockwork guidance systems.  V1 had one of those, BTW

But what would the number of coins mined per day have to do with the declining price?

It didn't really matter when it changed from 50 BTC halving to 25 BTC.  Traders will trade, programmers will program.  Price is a market condition, not a development condition.

He won't answer this because he can't spin it negatively. The facts are that supply of bitcoin will fall as the the block reward falls. Historically that restricted supply has been accompanied by a rise in exchange price.

[NotLambchop]

...
But what would the number of coins mined per day have to do with the declining price?
...

Umm... Coffee.
For someone invested in a currency relying on limited supply, you sure don't understand the basics.

At the risk of asking you to think:  What does the FED's printing of millions of dollars have to do with the value of USD?  Why not print it twice as fast & PROFIT!!! ?

[NotLambchop]

...
Which part of "BTC can't [drop block rewards] with a hard fork--miners wouldn't mine the fork in which the block rewards are lower" do you find difficult to grasp?
I'm trying to explain the basics of contemporary economics to you Bitcoiners, as if you were five.
I've got plenty of patience, but you must be willing to learn.

 

Fantastic attempt to deviate from the obvious fallacy in your argument.

The block reward was twice as high 2 years ago yet Bitcoin managed to survive.

Can you explain  

Sure.  The demand was higher, amongst other stuff.  That's called "changing economic conditions," the very thing elastic money supply with IRL people in charge was created to address.
Good question.  You're welcome

[NotLambchop]

...
He won't answer this because ...

So consistently wrong...

[ChuckBuck]

...
But what would the number of coins mined per day have to do with the declining price?
...

Umm... Coffee.
For someone invested in a currency relying on limited supply, you sure don't understand the basics.

At the risk of asking you to think:  What does the FED's printing of millions of dollars have to do with the value of USD?  Why not print it twice as fast & PROFIT!!! ?

Ai yi yi!  Now you backed yourself in the corner.  You shouldn't have mentioned the Federal Reserve.

The Fed has nothing to do with the government, is a private entity, a Central banking cartel that prints "continuous debt" dollars at will.

Some gross facts about the Fed that might not make you sleep well tonight...

http://theeconomiccollapseblog.com/archives/10-things-that-every-american-should-know-about-the-federal-reserve

Boy oh boy...can't believe you brought up the "crooked" Fed

http://www.federalreserve.gov/faqs/about_14986.htm

Who owns the Federal Reserve?

The Federal Reserve System fulfills its public mission as an independent entity within government.  It is not "owned" by anyone and is not a private, profit-making institution.

As the nation's central bank, the Federal Reserve derives its authority from the Congress of the United States. It is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.

[NotLambchop]

...
But what would the number of coins mined per day have to do with the declining price?
...

Umm... Coffee.
For someone invested in a currency relying on limited supply, you sure don't understand the basics.

At the risk of asking you to think:  What does the FED's printing of millions of dollars have to do with the value of USD?  Why not print it twice as fast & PROFIT!!! ?

Ai yi yi!  Now you backed yourself in the corner.  You shouldn't have mentioned the Federal Reserve.

The Fed has nothing to do with the government, is a private entity, a Central banking cartel that prints "continuous debt" dollars at will.
...

Who said anything about the government?  

I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

*And don't you dare start watching those pornographic "Money As Debt" vids before finishing your homeworks, or I'm blocking your YouTube

[ChuckBuck]

...
But what would the number of coins mined per day have to do with the declining price?
...

Umm... Coffee.
For someone invested in a currency relying on limited supply, you sure don't understand the basics.

At the risk of asking you to think:  What does the FED's printing of millions of dollars have to do with the value of USD?  Why not print it twice as fast & PROFIT!!! ?

Ai yi yi!  Now you backed yourself in the corner.  You shouldn't have mentioned the Federal Reserve.

The Fed has nothing to do with the government, is a private entity, a Central banking cartel that prints "continuous debt" dollars at will.
...

Who said anything about the government?  

I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

You just said the FED prints millions of dollars affecting price and why wouldn't it print double for more profit.  

Why?  Because it can't profit by printing more.

I just refuted it with one link:

http://www.federalreserve.gov/faqs/about_14986.htm

It is not "owned" by anyone and is not a private, profit-making institution.

[inca]

...
But what would the number of coins mined per day have to do with the declining price?
...

Umm... Coffee.
For someone invested in a currency relying on limited supply, you sure don't understand the basics.

At the risk of asking you to think:  What does the FED's printing of millions of dollars have to do with the value of USD?  Why not print it twice as fast & PROFIT!!! ?

Ai yi yi!  Now you backed yourself in the corner.  You shouldn't have mentioned the Federal Reserve.

The Fed has nothing to do with the government, is a private entity, a Central banking cartel that prints "continuous debt" dollars at will.
...

Who said anything about the government? 

I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

The reason you are here posting 20 times a day is because you love bitcoin. You sold way too soon and are desperate to get back in. I say get back in, of course you already are in, given you revealed previously you a) don't trade and b) hold bitcoin.

The only remaining question we have is, what price do you buy in, do a fewcoins and change your tune?

[NotLambchop]

Let's try this again, with text effects:

...
I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

*And don't you dare start watching those pornographic "Money As Debt" vids before finishing your homeworks, or I'm blocking your YouTube

That question again:

At the risk of asking you to think:  What does the FED's printing of millions of dollars have to do with the value of USD?  Why not print it twice as fast & PROFIT!!! ?

I do try to make it fun for you, but you're beginning to try my patience

[ChuckBuck]

Let's try this again, with text effects:

...
I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

*And don't you dare start watching those pornographic "Money As Debt" vids before finishing your homeworks, or I'm blocking your YouTube

That question again:

At the risk of asking you to think:  What does the FED's printing of millions of dollars have to do with the value of USD?  Why not print it twice as fast & PROFIT!!! ?

I do try to make it fun for you, but you're beginning to try my patience

Uhmmmm....Devalue the dollar?  Fed is a corrupt criminal organization not backed by gold, not tied to any entity, only tied to guns and tanks of the US military, since the Government (which doesn't control the Fed), NEEDS this precious fiat to wage more wars.

Here's an article from a reputable site you might recognize more:

http://www.forbes.com/sites/charleskadlec/2012/02/06/the-federal-reserves-explicit-goal-devalue-the-dollar-33/2/

They sure as hell ain't in it to help us.  The more they print, the more devalued the US Dollar becomes, the more the US deficit grows, the more of that debt is passed onto us.  Bitcoin doesn't get "printed" more, it actually inversely decreases in amount over time, until the max 21 million BTCs is met.

Thanks for proving my point!  

[inca]

Let's try this again, with text effects:

...
I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

*And don't you dare start watching those pornographic "Money As Debt" vids before finishing your homeworks, or I'm blocking your YouTube

That question again:

At the risk of asking you to think:  What does the FED's printing of millions of dollars have to do with the value of USD?  Why not print it twice as fast & PROFIT!!! ?

I do try to make it fun for you, but you're beginning to try my patience

Uhmmmm....Devalue the dollar?  Fed is a corrupt criminal organization not backed by gold, not tied to any entity, only tied to guns and tanks of the US military, since the Government (which doesn't control the Fed), NEEDS this precious fiat to wage more wars.

Here's an article from a reputable site you might recognize more:

http://www.forbes.com/sites/charleskadlec/2012/02/06/the-federal-reserves-explicit-goal-devalue-the-dollar-33/2/

They sure as hell ain't in it to help us.  The more they print, the more devalued the US Dollar becomes, the more the US deficit grows, the more of that debt is passed onto us.  Bitcoin doesn't get "printed" more, it actually inversely decreases in amount over time, until the max 21 million BTCs is met.

Thanks for proving my point!  

Using the USD to demonstrate inflation and infer bitcoin is bad, when bitcoin has exponentially reducing inflation is a bit of a stretch even for trollchop!

[Wandererfromthenorth]

How much was the block reward 2 years ago? How high was bitcoin inflation 2 years ago? Did bitcoin manage to maintain the exchange price?

But what would the number of coins mined per day have to do with the declining price?

It didn't really matter when it changed from 50 BTC halving to 25 BTC.  Traders will trade, programmers will program.  Price is a market condition, not a development condition.

 

Fantastic attempt to deviate from the obvious fallacy in your argument.

The block reward was twice as high 2 years ago yet Bitcoin managed to survive.

Can you explain  

Do you guys realise that when BTC price was at less than $1 for example the coins mined a day were double what they are today, yes, but the amount of fiat they were valued at was ridiculously smaller (and so a lot less of new money coming in was needed to pump the price)?
At $1-$10 for example the market cap was so tiny that it could be easily pumped by a few millionaires. Inflation was more than 10% yes, but it didn't matter since the amount of money that needed to come in to sustain or increase the price considering the coins mined every day was infinitely smaller.

Today we have 3600 BTC mined every single day. That's 1.1M USD of new supply created every single day. EVERY SINGLE FUCKING DAY.
If price goes to $660 (that a few months back seemed dirt cheap for the perma-bulls) that amount of USD value doubles, etc.

But what would the number of coins mined per day have to do with the declining price?

Are you serious?

[NotLambchop]

Let's try this again, with text effects:

...
I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

*And don't you dare start watching those pornographic "Money As Debt" vids before finishing your homeworks, or I'm blocking your YouTube

That question again:

At the risk of asking you to think:  What does the FED's printing of millions of dollars have to do with the value of USD?  Why not print it twice as fast & PROFIT!!! ?

I do try to make it fun for you, but you're beginning to try my patience

Uhmmmm....Devalue the dollar?  Fed is a corrupt criminal organization not backed by gold, not tied to any entity, only tied to guns and tanks of the US military, since the Government (which doesn't control the Fed), NEEDS this precious fiat to wage more wars.

Here's an article from a reputable site you might recognize more:

http://www.forbes.com/sites/charleskadlec/2012/02/06/the-federal-reserves-explicit-goal-devalue-the-dollar-33/2/

They sure as hell ain't in it to help us.  The more they print, the more devalued the US Dollar becomes, the more the US deficit grows, the more of that debt is passed onto us.  Bitcoin doesn't get "printed" more, it actually inversely decreases in amount over time, until the max 21 million BTCs is met.

Thanks for proving my point!  

And you still haven't answered my question.
The question remains the same:  Why doesn't the FED print money faster?  Printing presses worn out & need a rebuild?
Regardless of how you feel about the FED (Satan's pad), who controls it (the Jews!), the US deficit (BRB, moving to Somalia!), or any of those fun topics, answer the question.
Or no more XBox for you, young man

[NotLambchop]

...
Using the USD to demonstrate inflation and infer bitcoin is bad, when bitcoin has exponentially reducing inflation is a bit of a stretch even for trollchop!

The point is Bitcoin's money supply is increasing at ~14%/year now, and not enough new money is coming in to support the price.
The USD supply, on the other hand, is adjusted by real live people--that's why BTC has lost over 60% of its buying power in the past year. 
This is so obvious!  If it was a snake, it would'a bit ya

[Wandererfromthenorth]

Monetary inflation of BTC is currently higher than the monetary inflation of the USD (and it will be for quite some time).
That is a fact. Not much to discuss here guize...
It ain't an opinion yo.

[ChuckBuck]

Let's try this again, with text effects:

...
I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

*And don't you dare start watching those pornographic "Money As Debt" vids before finishing your homeworks, or I'm blocking your YouTube

That question again:

At the risk of asking you to think:  What does the FED's printing of millions of dollars have to do with the value of USD?  Why not print it twice as fast & PROFIT!!! ?

I do try to make it fun for you, but you're beginning to try my patience

Uhmmmm....Devalue the dollar?  Fed is a corrupt criminal organization not backed by gold, not tied to any entity, only tied to guns and tanks of the US military, since the Government (which doesn't control the Fed), NEEDS this precious fiat to wage more wars.

Here's an article from a reputable site you might recognize more:

http://www.forbes.com/sites/charleskadlec/2012/02/06/the-federal-reserves-explicit-goal-devalue-the-dollar-33/2/

They sure as hell ain't in it to help us.  The more they print, the more devalued the US Dollar becomes, the more the US deficit grows, the more of that debt is passed onto us.  Bitcoin doesn't get "printed" more, it actually inversely decreases in amount over time, until the max 21 million BTCs is met.

Thanks for proving my point!  

And you still haven't answered my question.
The question remains the same:  Why doesn't the FED print money faster?  Printing presses worn out & need a rebuild?
Regardless of how you feel about the FED (Satan's pad), who controls it (the Jews!), the US deficit (BRB, moving to Somalia!), or any of those fun topics, answer the question.
Or no more XBox for you, young man

Theoretically if the Fed prints more money, it will devalue the US dollar, but I already posted the link above that the Fed devalues the US dollar no matter if it prints more, borrows more, raise rates, lower rates.  Doesn't matter the US Dollar will devalue due to the Fed as we speak:



You should've gotten a PS4 instead!  

[ChuckBuck]

Monetary inflation of BTC is currently higher than the monetary inflation of the USD (and it will be for quite some time).
That is a fact. Not much to discuss here guize...
It ain't an opinion yo.

Not fact.  Traditional monetary policy that applies to regular currency's like the US dollar does not apply to Bitcoin.

That's the whole reason Bitcoin was created was to go against the grain.  The decentralization, the finite supply, the low transaction fees, etc etc.

Read this first before posting:

https://bitcoin.org/bitcoin.pdf

[NotLambchop]

...
And you still haven't answered my question.
The question remains the same:  Why doesn't the FED print money faster?  Printing presses worn out & need a rebuild?
Regardless of how you feel about the FED (Satan's pad), who controls it (the Jews!), the US deficit (BRB, moving to Somalia!), or any of those fun topics, answer the question.
Or no more XBox for you, young man

Theoretically if the Fed prints more money, it will devalue the US dollar ...

There!  Finally!  There's hope for you yet.
Do you still need me to answer your question, or have you spotted some similarities & actually learned something today?

...
But what would the number of coins mined per day have to do with the declining price?
...

[spoiler]the number of coins mined is analogous to the amount of USD "printed"--they both do the same thing: debase money[/spoiler]

[ChuckBuck]

...
And you still haven't answered my question.
The question remains the same:  Why doesn't the FED print money faster?  Printing presses worn out & need a rebuild?
Regardless of how you feel about the FED (Satan's pad), who controls it (the Jews!), the US deficit (BRB, moving to Somalia!), or any of those fun topics, answer the question.
Or no more XBox for you, young man

Theoretically if the Fed prints more money, it will devalue the US dollar ...

There!  Finally!  There's hope for you yet.
Do you still need me to answer your question, or have you spotted some similarities & actually learned something today?

...
But what would the number of coins mined per day have to do with the declining price?
...

The fed already devalues the dollar whether it prints money or not:

[brg444]

...
And you still haven't answered my question.
The question remains the same:  Why doesn't the FED print money faster?  Printing presses worn out & need a rebuild?
Regardless of how you feel about the FED (Satan's pad), who controls it (the Jews!), the US deficit (BRB, moving to Somalia!), or any of those fun topics, answer the question.
Or no more XBox for you, young man

Theoretically if the Fed prints more money, it will devalue the US dollar ...

There!  Finally!  There's hope for you yet.
Do you still need me to answer your question, or have you spotted some similarities & actually learned something today?

...
But what would the number of coins mined per day have to do with the declining price?
...

The fed already devalues the dollar whether it prints money or not:

 

I don't want to side with Lambtroll here but you seem kind of confused... the dollar is being devalued BECAUSE the FED is printing money

[Wandererfromthenorth]

Monetary inflation of BTC is currently higher than the monetary inflation of the USD (and it will be for quite some time).
That is a fact. Not much to discuss here guize...
It ain't an opinion yo.

Not fact.  Traditional monetary policy that applies to regular currency's like the US dollar does not apply to Bitcoin.

That's the whole reason Bitcoin was created was to go against the grain.  The decentralization, the finite supply, the low transaction fees, etc etc.

Read this first before posting:

https://bitcoin.org/bitcoin.pdf

Math is not an opinion. I am just talking about the increase in supply. Whether by coins mined, Fed printing or whatever it's still an increase in the monetary base (and it has obvious effects on price), period.
Currently, and for a long time, BTC money supply will grow in a year more than the money supply of USD, period.

[NotLambchop]

I know you have daddy issues with the FED, but I simply used it to illustrate why mining more BTC makes the BTC you hold worth less.
We can also infer from this that lowering the total of BTC mined (printed) would reduce the supply of BTC on exchanges, thus twerking the supply/demand equation just right & making the coin you hold be worth more.

But you can't do that, because predefined, like clockwork, like a V1 rocket.  Nothing can be done

[ChuckBuck]

Monetary inflation of BTC is currently higher than the monetary inflation of the USD (and it will be for quite some time).
That is a fact. Not much to discuss here guize...
It ain't an opinion yo.

Not fact.  Traditional monetary policy that applies to regular currency's like the US dollar does not apply to Bitcoin.

That's the whole reason Bitcoin was created was to go against the grain.  The decentralization, the finite supply, the low transaction fees, etc etc.

Read this first before posting:

https://bitcoin.org/bitcoin.pdf

Math is not an opinion. I am just talking about the increase in supply. Whether by coins mined, FED printing or whatever it's still an increase in the monetary base (and it has obvious effects on price), period.
Currently, and for a long time, BTC money supply will grow more than the money supply of USD, period.

BTC money supply is no where close to money supply of the USD, period.

Different supply scales, there's trillions of dollars in circulation compared to a few million BTCs.

Obviously price swings occur more wildly when the Bitcoin's pool is belly flopped into vs the US Dollar's ocean.

Stop comparing Bitcoin to the US Dollar, you're talking old money versus new money.

[ChuckBuck]

I know you have daddy issues with the FED, but I simply used it to illustrate why mining more BTC makes the BTC you hold worth less.
We can also infer from this that lowering the total of BTC mined (printed) would reduce the supply of BTC on exchanges, thus twerking the supply/demand equation just right & making the coin you hold be worth more.

But you can't do that, because predefined, like clockwork, like a V1 rocket.  Nothing can be done

I wonder if you'll say the say the same thing when we're not mining more BTC...

[brg444]

I know you have daddy issues with the FED, but I simply used it to illustrate why mining more BTC makes the BTC you hold worth less.
We can also infer from this that lowering the total of BTC mined (printed) would reduce the supply of BTC on exchanges, thus twerking the supply/demand equation just right & making the coin you hold be worth more.

But you can't do that, because predefined, like clockwork, like a V1 rocket.  Nothing can be done

Or maybe we can just wait a bit for market demand to pick up, waddayathink

[Wandererfromthenorth]

Monetary inflation of BTC is currently higher than the monetary inflation of the USD (and it will be for quite some time).
That is a fact. Not much to discuss here guize...
It ain't an opinion yo.

Not fact.  Traditional monetary policy that applies to regular currency's like the US dollar does not apply to Bitcoin.

That's the whole reason Bitcoin was created was to go against the grain.  The decentralization, the finite supply, the low transaction fees, etc etc.

Read this first before posting:

https://bitcoin.org/bitcoin.pdf

Math is not an opinion. I am just talking about the increase in supply. Whether by coins mined, FED printing or whatever it's still an increase in the monetary base (and it has obvious effects on price), period.
Currently, and for a long time, BTC money supply will grow more than the money supply of USD, period.

BTC money supply is no where close to money supply of the USD, period.

Different supply scales, there's trillions of dollars in circulation compared to a few million BTCs.

Obviously price swings occur more wildly when the Bitcoin's pool is belly flopped into vs the US Dollar's ocean.

Stop comparing Bitcoin to the US Dollar, you're talking old money versus new money.

We are talking about percentages of increase in money supply. The point is perfectly valid.

Obviously price swings occur more wildly when the Bitcoin's pool is belly flopped into vs the US Dollar's ocean

Ehm, are you just admitting that the increased money supply of BTC has a even greater effect on its price than for the USD, which kinda validates my point since the beginning?  

[NotLambchop]

I know you have daddy issues with the FED, but I simply used it to illustrate why mining more BTC makes the BTC you hold worth less.
We can also infer from this that lowering the total of BTC mined (printed) would reduce the supply of BTC on exchanges, thus twerking the supply/demand equation just right & making the coin you hold be worth more.

But you can't do that, because predefined, like clockwork, like a V1 rocket.  Nothing can be done

Or maybe we can just wait a bit for market demand to pick up, waddayathink

Yeah, "Wildly fluctuating & tanking price?  It's actually a good thing, we meant to do that."



Come on

[ChuckBuck]

Monetary inflation of BTC is currently higher than the monetary inflation of the USD (and it will be for quite some time).
That is a fact. Not much to discuss here guize...
It ain't an opinion yo.

Not fact.  Traditional monetary policy that applies to regular currency's like the US dollar does not apply to Bitcoin.

That's the whole reason Bitcoin was created was to go against the grain.  The decentralization, the finite supply, the low transaction fees, etc etc.

Read this first before posting:

https://bitcoin.org/bitcoin.pdf

Math is not an opinion. I am just talking about the increase in supply. Whether by coins mined, FED printing or whatever it's still an increase in the monetary base (and it has obvious effects on price), period.
Currently, and for a long time, BTC money supply will grow more than the money supply of USD, period.

BTC money supply is no where close to money supply of the USD, period.

Different supply scales, there's trillions of dollars in circulation compared to a few million BTCs.

Obviously price swings occur more wildly when the Bitcoin's pool is belly flopped into vs the US Dollar's ocean.

Stop comparing Bitcoin to the US Dollar, you're talking old money versus new money.

We are talking about percentages of increase in money supply. The point is perfectly valid.

Obviously price swings occur more wildly when the Bitcoin's pool is belly flopped into vs the US Dollar's ocean

Ehm, are you just admitting that the increased money supply on BTC has a even greater effect on its price than for the USD, which kinda validates my point since the beginning? 

How is the point valid again?

US Dollar money supply is so vast compared to Bitcoin's "money supply".

Also Bitcoin doesn't have a Federal Reserve to manipulate price value, so point's moot.

Fed is also driving US dollar price one way.  I'll give you a hint, it's not up.

[brg444]

I know you have daddy issues with the FED, but I simply used it to illustrate why mining more BTC makes the BTC you hold worth less.
We can also infer from this that lowering the total of BTC mined (printed) would reduce the supply of BTC on exchanges, thus twerking the supply/demand equation just right & making the coin you hold be worth more.

But you can't do that, because predefined, like clockwork, like a V1 rocket.  Nothing can be done

Or maybe we can just wait a bit for market demand to pick up, waddayathink

Yeah, "Wildly fluctuating & tanking price?  It's actually a good thing, we meant to do that."



Come on

Speculation, the only way to bootstrap a decentralized, global form of money.

[NotLambchop]

It's certainly straightforward enough, but it's starting to show some ...drawbacks?
My point is pretty trivial--it's nice to have the ability to adjust the money supply in response to changing conditions.  Clockwork inflation guidance can't do that, and that's why V1s were so wildly inaccurate



Retrofitted with a driver's seat

[inca]

It's certainly straightforward enough, but it's starting to show some ...drawbacks?
My point is pretty trivial--it's nice to have the ability to adjust the money supply in response to changing conditions.  Clockwork inflation guidance can't do that, and that's why V1s were so wildly inaccurate

Your laboured point is exceedingly trivial.

Last time i checked, bitcoin isn't a rocket, though it's exchange price has risen like one.

In principle having the ability to regulate inflation is an excellent idea. However in the real world we all inhabit it does not work for centrally planned fiat currencies in practice.

Other than comparing bitcoin with an ancient nazi missile, do you have any meaningful objection to bitcoin having a programatically enforced exponentially falling inflation rate?

[FatherBob]

...
Your laboured point is exceedingly trivial.
...

But your butthurt tho...  Your butthurt is not trivial at all, my son!

  ~Rev. FatherBob

[inca]

...
Your laboured point is exceedingly trivial.
...

But your butthurt tho...  Your butthurt is not trivial at all, my son!

  ~Rev. FatherBob

So when you can't answer you use an alt to post shit? And this is why you are a troll and not taken seriously by anyone on the forum.

 

[BlindMayorBitcorn]

It's certainly straightforward enough, but it's starting to show some ...drawbacks?
My point is pretty trivial--it's nice to have the ability to adjust the money supply in response to changing conditions.  Clockwork inflation guidance can't do that, and that's why V1s were so wildly inaccurate

Your laboured point is exceedingly trivial.

Last time i checked, bitcoin isn't a rocket, though it's exchange price has risen like one.

In principle having the ability to regulate inflation is an excellent idea. However in the real world we all inhabit it does not work for centrally planned fiat currencies in practice.

Other than comparing bitcoin with an ancient nazi missile, do you have any meaningful objection to bitcoin having a programatically enforced exponentially falling inflation rate?

How come? (Just curious...)

[brg444]

It's certainly straightforward enough, but it's starting to show some ...drawbacks?
My point is pretty trivial--it's nice to have the ability to adjust the money supply in response to changing conditions.  Clockwork inflation guidance can't do that, and that's why V1s were so wildly inaccurate

Your laboured point is exceedingly trivial.

Last time i checked, bitcoin isn't a rocket, though it's exchange price has risen like one.

In principle having the ability to regulate inflation is an excellent idea. However in the real world we all inhabit it does not work for centrally planned fiat currencies in practice.

Other than comparing bitcoin with an ancient nazi missile, do you have any meaningful objection to bitcoin having a programatically enforced exponentially falling inflation rate?

How come? (Just curious...)

Because humans + magic money printing = disaster

[NotLambchop]

^Been working great thus far
This Bitcoin thing, OTOH...  Much fail & aids

[botany]

Buy and Hold Long Term.
This advise would probably work at any point in time.

[yefi]

Shame the Germans didn't have Greenspan in control of the V1's. Could have shortened the war considerably as he would have driven them all into Berlin. This was the guy who pursued a loose monetary policy during the boom years after all. A certain Chancellor mentioned in Genesis wasn't any better either...

But these individuals are not the problem of course. The problem is inherit to the system. When was the last time the US with all these IRL shepherds ran a monetary policy that wasn't loose? They keep swerving obstacles, but all they do is bring closer the impassable object.

[NotLambchop]

...The problem is inherit to the system...

I keep hearing about this impending doom, mainly from the lunatic fringe.

...all they do is bring closer the impassable object.

If the driver is bad, sane people opt for a better driver.  Bitcoiners want to replace the driver with a windup toy

[jaredboice]

NotLambchop: "This serial troll is still being ignored." 

[smoothie]

Buy and Hold Long Term.
This advise would probably work at any point in time.

Has worked out pretty good for the majority of the price history of bitcoin.

[NotLambchop]

^
The past year has left you holding the bag tho.

[inca]

Smoothie is an early adopter. Unlike you he didn't sell out early and regret it. I doubt he is holding anything other than a large profit.

[NotLambchop]

Smoothie is an early adopter. Unlike you he didn't sell out early and regret it. I doubt he is holding anything other than a large profit.

Only if he's not a permabull & sold for fiat.  Remember the "you haven't lost if you didn't sell" nonsense spouted 'round these parts?  Well, the converse holds true too:  You haven't profited if you didn't sell.

As far as regrets go, I could buy back just hair less then DOUBLE the coin I sold with the money I made by selling it.

[dakota neat]

Smoothie is an early adopter. Unlike you he didn't sell out early and regret it. I doubt he is holding anything other than a large profit.

Only if he's not a permabull & sold for fiat.  Remember the "you haven't lost if you didn't sell" nonsense spouted 'round these parts?  Well, the converse holds true too:  You haven't profited if you didn't sell.

As far as regrets go, I could buy back just hair less then DOUBLE the coin I sold with the money I made by selling it.

Lol, silly. Can you forsee the future?
http://qz.com/317958/how-you-could-have-turned-1000-into-billions-of-dollars-by-perfectly-trading-the-sp-500-in-2014/

[BlindMayorBitcorn]

Smoothie is an early adopter. Unlike you he didn't sell out early and regret it. I doubt he is holding anything other than a large profit.

Only if he's not a permabull & sold for fiat.  Remember the "you haven't lost if you didn't sell" nonsense spouted 'round these parts?  Well, the converse holds true too:  You haven't profited if you didn't sell.

As far as regrets go, I could buy back just hair less then DOUBLE the coin I sold with the money I made by selling it.

So you are a sore winner then

[NotLambchop]

Smoothie is an early adopter. Unlike you he didn't sell out early and regret it. I doubt he is holding anything other than a large profit.

Only if he's not a permabull & sold for fiat.  Remember the "you haven't lost if you didn't sell" nonsense spouted 'round these parts?  Well, the converse holds true too:  You haven't profited if you didn't sell.

As far as regrets go, I could buy back just hair less then DOUBLE the coin I sold with the money I made by selling it.

Lol, silly. Can you forsee the future?
http://qz.com/317958/how-you-could-have-turned-1000-into-billions-of-dollars-by-perfectly-trading-the-sp-500-in-2014/

No, but unlike you, I can make an educated guess.
Regardless, I do not need to foresee the future to know the present: I could buy back just hair less than DOUBLE the coin I sold with the money I made by selling it.
Not that I'm fool enough to do it

@BlindMayorBitcorn: as in "mah sides."

[dakota neat]

NotLambchop: This user is currently ignored.

[NotLambchop]

NotLambchop: This user is currently ignored.

Asks question.  Doesn't like answer.  Butthurt & sulking ensue.

[BlindMayorBitcorn]

Smoothie is an early adopter. Unlike you he didn't sell out early and regret it. I doubt he is holding anything other than a large profit.

Only if he's not a permabull & sold for fiat.  Remember the "you haven't lost if you didn't sell" nonsense spouted 'round these parts?  Well, the converse holds true too:  You haven't profited if you didn't sell.

As far as regrets go, I could buy back just hair less then DOUBLE the coin I sold with the money I made by selling it.

Lol, silly. Can you forsee the future?
http://qz.com/317958/how-you-could-have-turned-1000-into-billions-of-dollars-by-perfectly-trading-the-sp-500-in-2014/

No, but unlike you, I can make an educated guess.
Regardless, I do not need to foresee the future to know the present: I could buy back just hair less than DOUBLE the coin I sold with the money I made by selling it.
Not that I'm fool enough to do it

@BlindMayorBitcorn: as in "mah sides."

Clever...

[inca]

Smoothie is an early adopter. Unlike you he didn't sell out early and regret it. I doubt he is holding anything other than a large profit.

Only if he's not a permabull & sold for fiat.  Remember the "you haven't lost if you didn't sell" nonsense spouted 'round these parts?  Well, the converse holds true too:  You haven't profited if you didn't sell.

As far as regrets go, I could buy back just hair less then DOUBLE the coin I sold with the money I made by selling it.

So you sold out in the 6xx range in the last run up - ouch. No wonder you are so desperate for the price to fall. 5200 posts convincing others to sell so you can buy in again at a lower price. Hope it's worth it!

[fewcoins]

<============= IS BUYING AGAIN 

[FatherBob]

Smoothie is an early adopter. Unlike you he didn't sell out early and regret it. I doubt he is holding anything other than a large profit.

Only if he's not a permabull & sold for fiat.  Remember the "you haven't lost if you didn't sell" nonsense spouted 'round these parts?  Well, the converse holds true too:  You haven't profited if you didn't sell.

As far as regrets go, I could buy back just hair less then DOUBLE the coin I sold with the money I made by selling it.

So you sold out in the 6xx range in the last run up - ouch. ...

Ouch?  If I held, those $6xx coins would be $3xx coins.  You Bitcoiners babble about math, but actually use it?  Clearly not so much
Stay dumb, deluded & in denial, inca--that's what makes you so special

[BlindMayorBitcorn]

Smoothie is an early adopter. Unlike you he didn't sell out early and regret it. I doubt he is holding anything other than a large profit.

Only if he's not a permabull & sold for fiat.  Remember the "you haven't lost if you didn't sell" nonsense spouted 'round these parts?  Well, the converse holds true too:  You haven't profited if you didn't sell.

As far as regrets go, I could buy back just hair less then DOUBLE the coin I sold with the money I made by selling it.

So you sold out in the 6xx range in the last run up - ouch. ...

Ouch?  If I held, those $6xx coins would be $3xx coins.  You Bitcoiners babble about math, but actually use it?  Clearly not so much
Stay dumb, deluded & in denial, inca--that's what makes you special

Dude...Your sock?

[FatherBob]

...
Dude...Your sock?

The Lamb spoke thorough me, my child!  A blessed miracle, I was chosen!

Hallelujah, kneel down and pray with me, children!  Adore the Lamb!

  ~Rev. FatherBob

[yefi]

If the driver is bad, sane people opt for a better driver. 

We are rewarded for 'bad' driving, so sane people will opt for more of the same. The insidious effects rot away at the pillars of our business, but nobody is concerned about that when prices climb. Lack of capital investment - who cares when you've got stock buybacks?

Bitcoiners want to replace the driver with a windup toy

Our very DNA is nothing more than a wind-up toy. One which long ago departed from its original course.

[JimboToronto]

Dude...Your sock?

Sock puppet of a sock puppet?

Pretty pathetic.

[Silverspoon]

Our very DNA is nothing more than a wind-up toy. One which long ago departed from its original course.

What you are suggesting is clockwork determinism, an interesting (and quite tenable) philosophical notion, though one which precludes free will altogether.  In other words, "departing from the original course" is the preprogrammed course.

[oblivi]

Our very DNA is nothing more than a wind-up toy. One which long ago departed from its original course.

What you are suggesting is clockwork determinism, an interesting (and quite tenable) philosophical notion, though one which precludes free will altogether.  In other words, "departing from the original course" is the preprogrammed course.

Determinism says that Bitcoin will explode in price next year.

[Unbelive]

Our very DNA is nothing more than a wind-up toy. One which long ago departed from its original course.

What you are suggesting is clockwork determinism, an interesting (and quite tenable) philosophical notion, though one which precludes free will altogether.  In other words, "departing from the original course" is the preprogrammed course.

Determinism says that Bitcoin will explode in price next year.

Lets hope it will not on so many pieces we will not be able to put back together.

[BlindMayorBitcorn]

Dude...Your sock?

Sock puppet of a sock puppet?

Pretty pathetic.

He's a natural vaudevillian. I have to admit, it amuses me more than it should

But so does this... Problem?

[thirdprize]

At least that's what I just did, so I believe we are at or very close to the bottom. And I plan on buying more, significantly more, at these levels as Coinbase allows me -I like to instant buy-, so I am prepared to keep on buying for a little while if prices remain around 325 or go any lower.

...

Anyway, those are my motivations. That's why I bought back. That's why I'm buying more.

How much you lost now?