..

[Come-from-Beyond]

Don't know exactly for first two problems, but it seems 3rd one is not a problem anymore and it won't be ever. Just look at the pie chart now. No pool is even close to 50%. BTW, for many miners out there, electricity is not a factor.

Do you mean that 3 pools at 33% each is not centralization?

[Come-from-Beyond]

The government cannot "declare" anything. While there are gross inequities in the way laws are passed and policies are made, it's not as simple as a totalitarian regime "declaring" Bitcoin as illegal.

What planet have you come from?

[wadili89]

Everybody here is a bull in the wrong run. It makes sense to be a short time bear when the value is going down to make profits.

$1200 to $300, being a bear means 4 times profit.

[inca]

Everybody here is a bull in the wrong run. It makes sense to be a short time bear when the value is going down to make profits.

$1200 to $300, being a bear means 4 times profit.

True. Good luck continuing that trend!

[NotLambchop]

Everybody here is a bull in the wrong run. It makes sense to be a short time bear when the value is going down to make profits.

$1200 to $300, being a bear means 4 times profit.

True. Good luck continuing that trend!

Good morning inca.  Seems to be working rhus far

[Come-from-Beyond]

One where we read books.

I know, who reads anything other than the title and first 3 sentences anymore, right?

Such innuendos add a lot of credibility to your posts!

[Ibian]

Electricity for mining is not a problem. By design. Each miner makes his own individual calculations about it and then makes a decision that will make money or cost him. Non-miners don't even need to know how it works (and, indeed, most won't when we eventually hit mass adoption). Non-issue.

[gargantuar]

If the Government declares Bitcoin illegal  

The government cannot "declare" anything. While there are gross inequities in the way laws are passed and policies are made, it's not as simple as a totalitarian regime "declaring" Bitcoin as illegal.

People need to stop saying this and maybe watch Schoolhouse Rock on Youtube because our education system has failed you.

http://en.wikipedia.org/wiki/Schoolhouse_Rock!

Had a hard time picking which post of yours to quote.  Settled on this one.  I, for one, officially like you Mr. Chow.  We may be similarly aged as well.  Some of the younger members may have not heard of schoolhouse rock.

Conspiracy thought:  this forum, which is perhaps the intersection of all bitcoin enthusiasts, is also the perfect place to deploy subversives if you are a manipulative or power-seeking entity or person.  A greater number of obedient subversives means we are onto something!

[Muuurrrrica!]

If you're not thinking about Bitcoin for the long term, you're in the wrong place.

Is ever-concentrating mining power problem solved?

yes, it  is. But not in bitcoin. The centralisation is inforced by the inflation.

Inflation = centralisation

i do believe bitcoin is also longterm going nowhere because of the inflation-mistake
Would it not have been inflationcoin it would have decentral network and miners race wouldn't have been so strong and price more stable and we would still be in the  goldrush-times and much more adoption.

Well, people hang on to bitcoin because first mover and no understanding of the outlined above.


blockchain size is worked on serveral solutions while the bitcoiners want sidechains and bloat the thing even more (wrong direction developement some alts make the correct developement there).

Now ripple even comes close in marketcap. I don't know if bitcoin will make  it but am sure some other coin(s) will.

I think bitcoin was a good start but now that it is going down: crypto should not die because bitcoin can't hold value (by design)

It's time to be honest with ourselves and  admit: bitcoin reward schedule fucks it up completely.

Why adopt NOW something that is CURRENTLY broken/doesn't really have a plan for the long term?

Because it's not broken?

yes, it is broken. Next panicsell is final nail in the coffin.

[inca]

If you're not thinking about Bitcoin for the long term, you're in the wrong place.

Is ever-concentrating mining power problem solved?

yes, it  is. But not in bitcoin. The centralisation is inforced by the inflation.

Inflation = centralisation

i do believe bitcoin is also longterm going nowhere because of the inflation-mistake
Would it not have been inflationcoin it would have decentral network and miners race wouldn't have been so strong and price more stable and we would still be in the  goldrush-times and much more adoption.

Well, people hang on to bitcoin because first mover and no understanding of the outlined above.


blockchain size is worked on serveral solutions while the bitcoiners want sidechains and bloat the thing even more (wrong direction developement some alts make the correct developement there).

Now ripple even comes close in marketcap. I don't know if bitcoin will make  it but am sure some other coin(s) will.

I think bitcoin was a good start but now that it is going down: crypto should not die because bitcoin can't hold value (by design)

It's time to be honest with ourselves and  admit: bitcoin reward schedule fucks it up completely.

Why adopt NOW something that is CURRENTLY broken/doesn't really have a plan for the long term?

Because it's not broken?

yes, it is broken. Next panicsell is final nail in the coffin.

Yeah yeah yeah. What inflation problem? Bitcoin has exponentially decreasing inflation.

The reason you are here bashing bitcoin is because you want to buy some.

[NotLambchop]

...bitcoin reward schedule fucks it up completely.
...

That.  Bitcoiners think Satoshi is a magical being who could do no wrong, sorta like Kim Jong-un to North Koreans.  He made educated guesses, most good, some not so much.  Bitcoin was an experiment, still in beta now.  Thanks for bringing some problems to light & furthering knowledge, beta testers, but it's time to move on

@inca:  the ~14%/year inflation problem, the one that's tanking the price now.  If you wish to use a more common definition of inflation, i.e. price inflation, then the number is way over 100%

[Come-from-Beyond]

The reason you are here bashing bitcoin is because you want to buy some.

How do you know this?

[Ibian]

Another scenario exists. It is possible that they really do not like bitcoin. That being the case, the logical decision would be to walk away. But a certain class of people do not like seeing others succeed, especially at something they decided to throw away. So they are here, urging the downfall on, instead of doing something useful with their life. Emotion over reason, and largely subconscious.

[exocytosis]

With Gox, Willy and Markus gone, there's nothing left to fuel another delusional and unsustainable bubble. We're just witnessing the correction back to single digits, where Bitcoin belongs, since that's the natural value of a currency whose only real utility lies in its use as a medium of exchange on the deep web -- by a few thousand child pornographers and drug addicts. Amateur speculators can't drive the price back to the moon again when whales, early adopters, miners, developers and other bag holders are dumping en masse. Tough luck for the cultists and bulltards.

A year from now, Bitcoin will be sub 50.

[NotLambchop]

...But a certain class of people do not like seeing others succeed...

Lol, that class of people sure came to the right place--hasn't been any success here for over a year

[fat buddah]

.... or maybe bitcoin really has a problem and those people are here to warn you about it with no bad intention because they are actually here (like yourself) to invest in a crypto that should go up, you know?

[Morecoin Freeman]

Most people on here have no idea what they are talking about because they have no historical perspective. For example they were not around when the price went from $266 to $50 in April 2013.

[inca]

With Gox, Willy and Markus gone, there's nothing left to fuel another delusional and unsustainable bubble. We're just witnessing the correction back to single digits, where Bitcoin belongs, since that's the natural value of a currency whose only real utility lies in its use as a medium of exchange on the deep web -- by a few thousand child pornographers and drug addicts. Amateur speculators can't drive the price back to the moon again when whales, early adopters, miners, developers and other bag holders are dumping en masse. Tough luck for the cultists and bulltards.

A year from now, Bitcoin will be sub 50.

A few of your recent posts:

That's a great reason to short. Sub 250 coming by end of next week.

I predicted all of this. Read my latest posts.
Sub 250 coming by Monday. Mark my words.

I think we'll mostly trade in the 250-350 range for a couple of weeks or so.

Sub 300 coming by Sunday. Sub 250 by Wednesday, then brief dead cat bounce to 300ish prices.

Double digits by April 2015.

Sub 250 by Christmas. Sub 100 by summer 2015. Sub 50 by 2016. Sub 20 by 2017.

Anyway: Bitcoin is still massively overvalued, and double digits will come soon enough.

I believe it will happen in 2014.

At least 10k.

According to certain charts, it will reach 10k in May. 100k in August.

The only real question is why you expect anyone to listen to your poor attempts to smear the bitcoin price down. Certainly the predictive power of your posts is somewhere between poor and absolutely fucking terrible.

[Bubbsandbubbs3]

I like to think of myself as a long term thinker. I look at the big picture. (Well, as much as I reasonably can.)

There's always discussion here about being a permabear, permabull...blah blah blah. My question is: How can you NOT be a permabull?

If you're looking at Bitcoin in terms of years, how can you make a realistic argument that favors the "permabear" mindset? It's just not logical given what we know. Every long term permabear on here, if you dig a little deeper, is just depressed/angry over losing or missing out on money. Human beings hate seeing others succeed while they themselves are left behind.

Every market crashes. Remember 2008 when the DOW was at, what, 6400? What's it now, 18,000?

Do you honestly believe 12 months is a long time for an emerging market like this? Come on...really?

Forget the short term. I don't even like to comment on it because NOBODY has a clue. But the long term...how can you NOT be a permabull on Bitcoin's long term prospects? (5-10 years)

If you're not thinking about Bitcoin for the long term, you're in the wrong place.

[Ibian]

.... or maybe bitcoin really has a problem and those people are here to warn you about it with no bad intention because they are actually here (like yourself) to invest in a crypto that should go up, you know?

Explain the problem(s) then. It's all code. There is nothing ambiguous about it. Lay it all out.

The one strange trick that nobody wants you to know is that we have been through it all before. Many times. The verdict has been in for a long while now and they are wrong.