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Author Topic: Why bitcoin is in big trouble and is ultimately doomed!  (Read 12878 times)
mystery2048
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July 09, 2012, 04:26:50 PM
 #1

I have thought about this question for a long time, is bitcoin actually viable. It began as a curiosity, I was wondering how could a currency be totally peer to peer, totally trust-less, and after discovering Bitcoin I couldn't possibly see how it worked. I think looked and realized it wasn't actually a currency, it was more of a commodity, However, the problems with bitcoin are immense. The main problem I see with bitcoin is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. The majority of people keeping the price where it is, are essentially in it to profit in either the short-medium term and I expect that they have little care for ensuring the market is stable, or that bitcoin grows. The software is difficult to use, and seems to be designed by the kind of people who dont understand the typical financial types that will use bitcoin on a regular basis. Copying and pasting bitcoin public keys all day, is not going to work with anyone, the software needs to be designed to be user-friendly and perhaps even integrated with spreadsheet or accounting software. Also, the project, community and general Eco-system is not organized or managed very well at all. I dont expect bitcoin to even survive 6 months, at least not if you expect the coins to be worth anything or to be traded in any substantial amounts. That is my analysis over the years that I have been involved with the project, and I am sorry to say, many of you are probably wasting your time. I hope things do go well, I am just not optimistic.

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July 09, 2012, 04:36:03 PM
 #2

OP is asking for donations while saying bitcoin is doomed.  Hypocrite.
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July 09, 2012, 04:37:59 PM
 #3

Why are you wasting your time with a litecoin.com signature in your post?

There has seem to be a big push all of a sudden for litecoin on the forum. 

It's either people hoping to pump and dump to exchange their LTC for BTC or people who are angry that they "can't print free money" any more because of the difficulty increases for BTC and just want the whole project to come crashing down.

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mystery2048
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July 09, 2012, 04:50:08 PM
 #4

I dont support litecoin either...

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July 09, 2012, 04:51:21 PM
 #5

I dont support litecoin either...

I can tell from your sig's ringing dis-endorsement.
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July 09, 2012, 04:51:42 PM
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I dont support litecoin either...

So...just a hypocrite then?

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July 09, 2012, 04:51:53 PM
 #7

I couldn't possibly see how it worked. I think looked and realized it wasn't actually a currency, it was more of a commodity,

Bitcoin is a commodity that is perfectly suited for use as money. It is thus a commodity and a currency, to the extent it is used as such. The best monies, historically, have been commodities also (gold, etc). They are not mutually exclusive traits.


I dont expect bitcoin to even survive 6 months, at least not if you expect the coins to be worth anything or to be traded in any substantial amounts.

How much do you want to bet?  I will bet you $2,000 that Bitcoins will be worth more than $5 in six months. Put up or shut up.
mystery2048
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July 09, 2012, 04:55:38 PM
 #8

While that $2000 is most likely easy money for me, I don't want to take your money or humiliate you. I am just giving you a warning that you are treading in dangerous waters. Many people here are risking much higher sums than that every day. Whatever you want to take from this failed experiment, you should not put in any money that you cannot afford to lose!

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July 09, 2012, 04:56:19 PM
 #9

you should not put in any money that you cannot afford to lose!
Well, obviously. But that doesn't mean it's going to die for whatever reason.

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July 09, 2012, 04:57:47 PM
 #10

Bitcoin is a risky project and there is a high change that you will lose everything.

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July 09, 2012, 04:59:05 PM
 #11

Bitcoin is a risky project and there is a high change that you will lose everything.

such is life, no pain, no gain.

*cough* Litecoin Shill *cough*

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
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July 09, 2012, 04:59:22 PM
 #12

Ok, my opinion has changed from misguied OP to OP just wanting people to dump coins so he can buy them cheap.  Question is...does OP really think this sort of silly hasn't been tried before?

If he really thought it would crash he'd just sell any of his BTC and walk away.  

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July 09, 2012, 05:00:33 PM
 #13

Uhm, litecoin is essentially the same as bitcoin...

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July 09, 2012, 05:02:50 PM
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Uhm, litecoin is essentially the same as bitcoin...

Then why don't you take out your litecoin endorsement in your signature line?

Might as well take out the BTC donation address too... since you have no use for it.

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July 09, 2012, 05:04:24 PM
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Uhm, litecoin is essentially the same as bitcoin...
I agree, I think we should be done with the bitcoin community. They are obviously a bunch of fools, and embrace the goodness that is Litecoin. Infact, we should probably integrate a feature in the litecoin client where it blocks anyone who has Bitcoin running or owns any bitcoin addresses! Smiley

Cryptowar for the future!!! Rawr!

*cough* Litecoin Shill *cough*

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
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July 09, 2012, 05:04:44 PM
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lol

this explains a lot:

I agree, I think we should be done with the bitcoin community. They are obviously a bunch of fools, and embrace the goodness that is Litecoin. Infact, we should probably integrate a feature in the litecoin client where it blocks anyone who has Bitcoin running or owns any bitcoin addresses! Smiley

Cryptowar for the future!!! Rawr!

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July 09, 2012, 05:05:31 PM
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/thread

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mystery2048
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July 09, 2012, 05:07:09 PM
 #18

Dont know how that got there, someone might be messing around with my account...

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July 09, 2012, 05:09:02 PM
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Dont know how that got there, someone might be messing around with my account...

Hahahahahaha

probably


 Wink

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July 09, 2012, 05:09:16 PM
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Dont know how that got there, someone might be messing around with my account...

Ah, come on bro. You got outted as a LTC scammer. Just be a man and fess up.

This thread has probably just become the most fun on the forum tbh.

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July 09, 2012, 05:10:01 PM
 #21

Dont know how that got there, someone might be messing around with my account...

Probably want to change your password.  
Also change any passwords on other sites which are the same.
I would change email password also for good measure.

The paranoid side of me says do a good AV, malware, keylogger check.  Also if you aren't already enable 2 factor authentication on your exchange accounts and make sure you wallet passphrase is strong.
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July 09, 2012, 05:11:27 PM
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Dont know how that got there, someone might be messing around with my account...

Probably want to change your password.  
Also change any passwords on other sites which are the same.
I would change email password also for good measure.

The paranoid side of me says do a good AV, malware, keylogger check.

^this

a good rootkit check and some process explorer are in order. May want to disconnect from the internet for a week or so to have time to do a proper security check.  Kiss

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July 09, 2012, 05:11:59 PM
 #23

While that $2000 is most likely easy money for me, I don't want to take your money or humiliate you.

mystery2048
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July 09, 2012, 05:12:40 PM
 #24

Uh thanks, just running a virus scan now, also changed my passwords... I wont let this happen again! Thankfully none of my bitcoins have been stolen, dont wanna loose those coins that I am trying to sell or get rid off...

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July 09, 2012, 05:16:18 PM
 #25

Dont know how that got there, someone might be messing around with my account...

Probably want to change your password.  
Also change any passwords on other sites which are the same.
I would change email password also for good measure.

The paranoid side of me says do a good AV, malware, keylogger check.

^this

a good rootkit check and some process explorer are in order. May want to disconnect from the internet for a week or so to have time to do a proper security check.  Kiss

Yup, strongly exercise these actions. Also, for a good pw management, use Lastpass or Keepass and use 100 mix character for your pw's.
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July 09, 2012, 05:18:30 PM
 #26

Yeh ive been registered for about a year, and have learned alot about the project, its quite impressive...

Anyway, I took the liberty to email and post to several dozen news websites, warning them about the Bitcoin, hopefully this should be useful to everyone! Smiley

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July 09, 2012, 05:18:43 PM
 #27

OP is spreading the same FUD at BTC-E. I recommend navigating to www.facepalm.de/ regarding all of OPs remarks.
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July 09, 2012, 05:20:43 PM
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OP is spreading the same FUD at BTC-E. I recommend navigating to www.facepalm.de/ regarding all of OPs remarks.

^
mystery2048
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July 09, 2012, 05:24:09 PM
 #29

I am simply educating people to the truth, nothing more. There are several websites which I have posted to in order to better inform people.

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July 09, 2012, 05:27:34 PM
 #30

OP is spreading the same FUD at BTC-E. I recommend navigating to www.facepalm.de/ regarding all of OPs remarks.

This link of yours is essentially the best reason to read this thread. Please update OP.

Quote from: TraderTimm
For me, bitcoin is freedom that I never thought I'd see in my lifetime.
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July 09, 2012, 05:28:01 PM
 #31

I am simply educating people to the truth, nothing more. There are several websites which I have posted to in order to better inform people.

+1 if mystery's compelling arguments on the internet have moved you to sell all your bitcoins and litecoins.

+1, I'm out guys.
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July 09, 2012, 05:29:31 PM
 #32

wow thread is wow.
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July 09, 2012, 05:32:22 PM
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I will sure miss your informative posts znort...

What do you guys think about the future prospects of this project?

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July 09, 2012, 05:33:55 PM
 #34

take a wild guess.
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July 09, 2012, 05:34:05 PM
 #35

I will sure miss your informative posts znort...

What do you guys think about the future prospects of this project?

I think it will get better when you navigate away to the Litecoin forums and don't ever come back. Roll Eyes

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July 09, 2012, 05:34:24 PM
 #36

I will sure miss your informative posts znort...

What do you guys think about the future prospects of this project?

I think this project is in big trouble and is ultimately doomed.
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July 09, 2012, 05:35:21 PM
 #37

lol

this explains a lot:

I agree, I think we should be done with the bitcoin community. They are obviously a bunch of fools, and embrace the goodness that is Litecoin. Infact, we should probably integrate a feature in the litecoin client where it blocks anyone who has Bitcoin running or owns any bitcoin addresses! Smiley

Cryptowar for the future!!! Rawr!

Are you 11?
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July 09, 2012, 05:37:19 PM
 #38

lol

this explains a lot:

I agree, I think we should be done with the bitcoin community. They are obviously a bunch of fools, and embrace the goodness that is Litecoin. Infact, we should probably integrate a feature in the litecoin client where it blocks anyone who has Bitcoin running or owns any bitcoin addresses! Smiley

Cryptowar for the future!!! Rawr!

Are you 11?

That wasn'thim. His account was hacked  Roll Eyes

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July 09, 2012, 05:37:53 PM
 #39

That wasn'thim. His account was hacked  Roll Eyes
You think so?

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July 09, 2012, 05:37:58 PM
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lol

this explains a lot:

I agree, I think we should be done with the bitcoin community. They are obviously a bunch of fools, and embrace the goodness that is Litecoin. Infact, we should probably integrate a feature in the litecoin client where it blocks anyone who has Bitcoin running or owns any bitcoin addresses! Smiley

Cryptowar for the future!!! Rawr!

Are you 11?

haha no, why?

Are you a pedophile?

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July 09, 2012, 05:39:27 PM
 #41

lol

this explains a lot:

I agree, I think we should be done with the bitcoin community. They are obviously a bunch of fools, and embrace the goodness that is Litecoin. Infact, we should probably integrate a feature in the litecoin client where it blocks anyone who has Bitcoin running or owns any bitcoin addresses! Smiley

Cryptowar for the future!!! Rawr!

Are you 11?

haha no, why?

Are you a pedophile?

Not you...
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July 09, 2012, 05:40:11 PM
 #42

lol

this explains a lot:

I agree, I think we should be done with the bitcoin community. They are obviously a bunch of fools, and embrace the goodness that is Litecoin. Infact, we should probably integrate a feature in the litecoin client where it blocks anyone who has Bitcoin running or owns any bitcoin addresses! Smiley

Cryptowar for the future!!! Rawr!

Are you 11?

haha no, why?

Are you a pedophile?

Not you...

Haha ok then. Consider my query retracted.

  Cheesy

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July 09, 2012, 05:40:24 PM
 #43

That wasn'thim. His account was hacked  Roll Eyes
You think so?

Everyone knows how much hackers just love spreading the litecoin gospel
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July 09, 2012, 05:41:28 PM
 #44

Ok, that matter will be investigated. This is a serious thread, please behave and get back on topic.

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July 09, 2012, 05:42:53 PM
 #45

Ok, that matter will be investigated. This is a serious thread, please behave and get back on topic.

Serious thread became unserious when you were outted as an litescammer. 

But seriously, I'm curious as to how you don't see that the only "success" LTC could hope for is to sink both BTC and LTC.

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July 09, 2012, 05:44:07 PM
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Ok, that matter will be investigated. This is a serious thread, please behave and get back on topic.

Dude's trolling. I'm out.
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July 09, 2012, 05:45:33 PM
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I am nothing of the sort, I was going to remove my signature ages ago as it was very old...

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July 09, 2012, 05:45:59 PM
 #48

Ok, that matter will be investigated. This is a serious thread, please behave and get back on topic.

Serious thread became unserious when you were outted as an litescammer. 

But seriously, I'm curious as to how you don't see that the only "success" LTC could hope for is to sink both BTC and LTC.

Litecoin will be very succesfull. Their windows only client that's not updated since February and has serious flaws that were already addressed on the Bitcoin client will take it sky high.

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July 09, 2012, 05:48:17 PM
 #49

psy, please keep on topic, this post is not about litecoin.

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July 09, 2012, 05:49:25 PM
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I am nothing of the sort, I was going to remove my signature ages ago as it was very old...

Very old and it advertises a litecoin wallet that was announced on June 8, 2012.
https://bitcointalk.org/index.php?topic=86345.0

We should ask theymos to check the logs and see the date when he last edited his signature...

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July 09, 2012, 05:49:37 PM
 #51

psy, please keep on topic, this post is not about litecoin.
So you think bitcoin will fail, but you still have a donation address in your sig?

Whatever.

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July 09, 2012, 05:50:10 PM
 #52

psy, please keep on topic, this post is not about litecoin.

but I thought bitcoin and litecoin were pretty much the same?


 Grin

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July 09, 2012, 05:50:35 PM
 #53

While that $2000 is most likely easy money for me, I don't want to take your money or humiliate you. I am just giving you a warning that you are treading in dangerous waters. Many people here are risking much higher sums than that every day. Whatever you want to take from this failed experiment, you should not put in any money that you cannot afford to lose!

Is this where I get to use the quote button?

  • Make a financial forecast
  • Take a stance using bets or financial instruments
  • Huh
  • PROFIT

Though I agree on one thing: don't put in more than you can afford to lose. That comes in automatically if you do the forecast correctly, but who does that in the first place? Tongue

But yea, Bitcoin is high-risk. Speculating on it is for people who like the idea. Cool
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July 09, 2012, 05:50:59 PM
 #54

rjk, Bit-coin will fail at some point, I see no point in *not* having an address to sell any coins I may come into possession of. And thanks for the thought out post Vandroiy!

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July 09, 2012, 05:51:21 PM
 #55

Bitcoin is a risky project and there is a high change that you will lose everything.

If I lose everything that I have today, I would honestly have to say that I've come out ahead overall over the past 2+ years.

Now that you've said your peace, I'll buy you out at $3 per and you can leave.

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July 09, 2012, 05:52:10 PM
 #56

rjk, Bit-coin will fail at some point, I see no point in having an address to sell any coins I may come into possession of. And thanks for the thought out post Vandroiy!
Are you even reading what you are writing?

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July 09, 2012, 05:53:26 PM
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Sorry, corrected post.

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Sorry, corrected post.

You can fix posts but you can't cure stupidity...

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July 09, 2012, 05:58:23 PM
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Nor can you correct rudeness and general crudity... In any case, I was wondering whether you think the ASICS will cause a problem for bitcoin and mining in general? I am myself very worried about mining being monopolized by a small but powerful group.

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July 09, 2012, 06:03:27 PM
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Nor can you correct rudeness and general crudity... In any case, I was wondering whether you think the ASICS will cause a problem for bitcoin and mining in general? I am myself very worried about mining being monopolized by a small but powerful group.

As bitcoin isn't about "printing free money!" I am not worried outside of the 51% attack scenario.  But, competition being what it is, I don't see the 51% situation likely.

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July 09, 2012, 06:04:54 PM
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Im not so sure, isnt it possible that the top 3/4 pools will collude like you sometimes see cartels doing in other markets?

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July 09, 2012, 06:05:53 PM
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Bitcoin is a risky project and there is a high change that you will lose everything.

If I lose everything that I have today, I would honestly have to say that I've come out ahead overall over the past 2+ years.

Now that you've said your peace, I'll buy you out at $3 per and you can leave.
This +1. I'll even offer $3.01.

Nor can you correct rudeness and general crudity... In any case, I was wondering whether you think the ASICS will cause a problem for bitcoin and mining in general? I am myself very worried about mining being monopolized by a small but powerful group.
See gold. Isn't gold mining 'being monopolized by a small but powerful group' either? A free currency essentially removes all limitations of ownership, and you are free to start 'monopolizing' too. That said, ASICS would only advance Bitcoin more in terms of security and stability (financially as in price and the Bitcoin network in general), and no, I don't have any ASIC's yet.
A technological race is normal for any free system - see the chip war between AMD and Intel for example. Who is complaining that the computer CPU is being monopolized by only two companies?

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July 09, 2012, 06:08:09 PM
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The dude is on a Bitcoin bashing frenzy lol
Basically, taint is the problem where part of your coins are mixed with stolen, laundered, or illegitimate coins. It will eventually be a huge problem for bitcoin, as exchanges and merchants will refuse to take coins above a certain taint %. We may also find trading freezes up, people are stuck with coins they cant use, and bitcoins lose a lot of their worth.

All that on a thread about the blockchain.info taint feature, which has nothing to do with what he described.
Oh, well...

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July 09, 2012, 06:08:25 PM
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Im not sure, perhaps we would see more featureful and diverse chipsets if we had perhaps half a dozen chip manufacturers instead of just two...

Also, the problem with a huge number of ASICs coming online, is not just that they get more powerful, its that smaller miners see lesser profits and drop out. Mining on a GPU will become impossible, and unless you invest heavily in ASICs you will probably not many enough money for it to be worthwhile.

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July 09, 2012, 06:08:29 PM
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Im not so sure, isnt it possible that the top 3/4 pools will collude like you sometimes see cartels doing in other markets?

Were they colluding before? NOPE.

Please think about your own questions for 15 seconds before hitting the post button.  You'll find that logic will answer many of your own questions.

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July 09, 2012, 06:09:43 PM
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The dude is on a Bitcoin bashing frenzy lol
Basically, taint is the problem where part of your coins are mixed with stolen, laundered, or illegitimate coins. It will eventually be a huge problem for bitcoin, as exchanges and merchants will refuse to take coins above a certain taint %. We may also find trading freezes up, people are stuck with coins they cant use, and bitcoins lose a lot of their worth.

All that on a thread about the blockchain.info taint feature, which has nothing to do with what he described.
Oh, well...

Yea, and he isn't trying to "promote" LTC either!

Shall we start a pool on how long before he states that his account was hacked FOR REALZ and this whole thread was the hacker?

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July 09, 2012, 06:10:31 PM
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Yes, but the stake has increased, there is alot more money involved in mining than there were in the beginning stages of bitcoins... Your local pizza delivery companies are unlikely to collude for any reason, but Pizza Hut and Dominoes may (or at least buy out each other) ...

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July 09, 2012, 06:12:13 PM
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Im not so sure, isnt it possible that the top 3/4 pools will collude like you sometimes see cartels doing in other markets?
Nope, not possible. The top 3/4 pools have a vested interest to see Bitcoin succeed, and there is many other pools in the market for anyone to choose.

See this: http://blockchain.info/pools?timespan=4days
You'll find that 4 of the top pools only controls like 1/3 of the hash rate. There is no incentive for them to band together, as doing an 51% attack is costly and unprofitable. Not to mention the difficulty as in practice an attack would need around 60-70~% for an attack to be viable. The members of the pools would notice and leave before any lasting harm would be done.

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July 09, 2012, 06:13:18 PM
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Yes, but the stake has increased, there is alot more money involved in mining than there were in the beginning stages of bitcoins... Your local pizza delivery companies are unlikely to collude for any reason, but Pizza Hut and Dominoes may (or at least buy out each other) ...

You didn't think about this again.

Your statement is true of anything! Even if BTC was, oh let's say, limited to cpu mining only it would be possibly for some SUPER HUGE LVL 90 JESUSES to group together and lulz control LTC...er...I mean...BTC.

Please, for the love of jebus. Stop and think before posting.

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July 09, 2012, 06:14:08 PM
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Im not so sure, isnt it possible that the top 3/4 pools will collude like you sometimes see cartels doing in other markets?
Nope, not possible. The top 3/4 pools have a vested interest to see Bitcoin succeed, and there is many other pools in the market for anyone to choose.

See this: http://blockchain.info/pools?timespan=4days
You'll find that 4 of the top pools only controls like 1/3 of the hash rate. There is no incentive for them to band together, as doing an 51% attack is costly and unprofitable. Not to mention the difficulty as in practice an attack would need around 60-70~% for an attack to be viable. The members of the pools would notice and leave before any lasting harm would be done.
not to mention the fact he is overlooking that the product of those HUGE pools does not go to the pool op's pockets. it is paid out to thousands and thousands of miners. Least of all, not all of them are mining 'for profit'....

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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July 09, 2012, 06:17:43 PM
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Im not sure, perhaps we would see more featureful and diverse chipsets if we had perhaps half a dozen chip manufacturers instead of just two...

Also, the problem with a huge number of ASICs coming online, is not just that they get more powerful, its that smaller miners see lesser profits and drop out. Mining on a GPU will become impossible, and unless you invest heavily in ASICs you will probably not many enough money for it to be worthwhile.
We do have more then half a dozen chip manufacturers. It's just that their technological prowess haven't reached that of the top players.
For your second point, the transition to ASIC's is the same as the transition to GPU's from CPU's. You'll need to throw some dough in to be profitable during that transition, and this holds true for this transition.

OP, I would suggest you try not to humiliate yourself with such abysmal questions.  Please give your statements some thought before spouting nonsense.

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July 09, 2012, 06:19:00 PM
 #72

Hmm, perhaps a few possibilities:

1. OP is high
2. OP is hacked, and hacker is posting on a different login session (unlikely)
3. OP is retarded, stupid, an idiot, or some combination of those
4. OP is pushing some kind of agenda (whose?)
5. OP is a scammer trying to raise his post count in order to become more legitimate to new users (also likely) before selling them stuff and running.
  5a. See how he never quotes anyone, so as to leave incriminating or opposing views out of his post history?
6. OP needs to get a life and come back in a few years

Choose your own adventure!

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July 09, 2012, 06:24:08 PM
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Hmm, perhaps a few possibilities:

1. OP is high
2. OP is hacked, and hacker is posting on a different login session (unlikely)
3. OP is retarded, stupid, an idiot, or some combination of those
4. OP is pushing some kind of agenda (whose?)
5. OP is a scammer trying to raise his post count in order to become more legitimate to new users (also likely) before selling them stuff and running.
  5a. See how he never quotes anyone, so as to leave incriminating or opposing views out of his post history?
6. OP needs to get a life and come back in a few years

Choose your own adventure!

OP is probably just a poor kid trying to push LTC or just ignorant of facts and figures. I normally am happy to hear criticisms about Bitcoin (such as the lack of usage areas and so), and explain valid technical concerns (scalability, user friendly etc), but FUD and unfounded questions push me over the top.

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July 09, 2012, 06:26:08 PM
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Hmm, perhaps a few possibilities:

1. OP is high
2. OP is hacked, and hacker is posting on a different login session (unlikely)
3. OP is retarded, stupid, an idiot, or some combination of those
4. OP is pushing some kind of agenda (whose?)
5. OP is a scammer trying to raise his post count in order to become more legitimate to new users (also likely) before selling them stuff and running.
  5a. See how he never quotes anyone, so as to leave incriminating or opposing views out of his post history?
6. OP needs to get a life and come back in a few years

Choose your own adventure!

OP is probably just a poor kid trying to push LTC or just ignorant of facts and figures. I normally am happy to hear criticisms about Bitcoin (such as the lack of usage areas and so), and explain valid technical concerns (scalability, user friendly etc), but FUD and unfounded questions push me over the top.

Agreed, all above. ^
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July 09, 2012, 06:28:54 PM
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Uhm, I am sensing some negativity, I just wanted to start a discussion on Bitcoin.

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July 09, 2012, 06:30:07 PM
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Uhm, I am sensing some negativity, I just wanted to start a discussion on Bitcoin.
Instead of trying to make the world come to you and explain it all in baby-talk, why not do some of your own original research?

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July 09, 2012, 06:33:07 PM
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Uhm, I am sensing some negativity, I just wanted to start a discussion on Bitcoin.
Instead of trying to make the world come to you and explain it all in baby-talk, why not do some of your own original research?


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July 09, 2012, 06:34:50 PM
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While that $2000 is most likely easy money for me, I don't want to take your money or humiliate you. I am just giving you a warning that you are treading in dangerous waters. Many people here are risking much higher sums than that every day. Whatever you want to take from this failed experiment, you should not put in any money that you cannot afford to lose!

Got it. So you have plenty of money to bet, and yet you still won't take the bet with me. I'm so shocked.

 
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July 09, 2012, 06:36:20 PM
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Uhm, I am sensing some negativity, I just wanted to start a discussion on Bitcoin.
We are discussing. It's just that you're still stating A is not 1 in the equation 1+A=2, in an university calculus class.
Kindly give some opinions that is not proven to be wrong.

Stating "Why bitcoin is in big trouble and is ultimately doomed!" here without legible proof to back it up is like stating
'Why gold is in big trouble and is ultimately doomed!' in a economics forum without any proof.

TL;DR: you'll get trolled, and you deserve it.

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July 09, 2012, 06:37:35 PM
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While that $2000 is most likely easy money for me, I don't want to take your money or humiliate you. I am just giving you a warning that you are treading in dangerous waters. Many people here are risking much higher sums than that every day. Whatever you want to take from this failed experiment, you should not put in any money that you cannot afford to lose!

Got it. So you have plenty of money to bet, and yet you still won't take the bet with me. I'm so shocked.

 

You should just bet some worthless bitcoins with him and leave the dollars out.
He'll have no problems with that, for sure Wink

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July 09, 2012, 06:53:38 PM
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Uhm, I am sensing some negativity, I just wanted to start a discussion on Bitcoin.

Really?  I didn't get that at all.  You came into our house and took a crap on our kitchen table, so I would think that the responses that you've received so far have been relatively civil.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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July 09, 2012, 07:07:55 PM
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Suggest that OP do some research on older threads before posting.  The same arguments are made over and over.  Nothing new here.
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July 09, 2012, 07:36:20 PM
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Suggest that OP do some research on older threads before posting.  The same arguments are made over and over.  Nothing new here.

^

Bitcoin is here to stay as long as the users wants them to be, just like someone stated, just like beaniebabys. Bitcoin is not doomed and are not in trouble at all. Those are my thoughts on this subject.

/end
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July 09, 2012, 07:39:56 PM
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I have thought about this question for a long time, is bitcoin actually viable. It began as a curiosity, I was wondering how could a currency be totally peer to peer, totally trust-less, and after discovering Bitcoin I couldn't possibly see how it worked. I think looked and realized it wasn't actually a currency, it was more of a commodity, However, the problems with bitcoin are immense. The main problem I see with bitcoin is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. The majority of people keeping the price where it is, are essentially in it to profit in either the short-medium term and I expect that they have little care for ensuring the market is stable, or that bitcoin grows. The software is difficult to use, and seems to be designed by the kind of people who dont understand the typical financial types that will use bitcoin on a regular basis. Copying and pasting bitcoin public keys all day, is not going to work with anyone, the software needs to be designed to be user-friendly and perhaps even integrated with spreadsheet or accounting software. Also, the project, community and general Eco-system is not organized or managed very well at all. I dont expect bitcoin to even survive 6 months, at least not if you expect the coins to be worth anything or to be traded in any substantial amounts. That is my analysis over the years that I have been involved with the project, and I am sorry to say, many of you are probably wasting your time. I hope things do go well, I am just not optimistic.

Can somebody please tell me how the author of the below now spews the above?

I am interested in possibly acquiring a bitcoin loan of about 1000 BTC. I would pay back monthly with bitcoins. I am a trusted member of the community, and am active on the forums and IRC. Would anyone offer me the loan, at how much interest and with what conditions attached?

He sure the hell was optimistic when he wanted to borrow some bitcoins.

~Bruno~
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July 09, 2012, 07:43:18 PM
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I have thought about this question for a long time, is bitcoin actually viable. It began as a curiosity, I was wondering how could a currency be totally peer to peer, totally trust-less, and after discovering Bitcoin I couldn't possibly see how it worked. I think looked and realized it wasn't actually a currency, it was more of a commodity, However, the problems with bitcoin are immense. The main problem I see with bitcoin is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. The majority of people keeping the price where it is, are essentially in it to profit in either the short-medium term and I expect that they have little care for ensuring the market is stable, or that bitcoin grows. The software is difficult to use, and seems to be designed by the kind of people who dont understand the typical financial types that will use bitcoin on a regular basis. Copying and pasting bitcoin public keys all day, is not going to work with anyone, the software needs to be designed to be user-friendly and perhaps even integrated with spreadsheet or accounting software. Also, the project, community and general Eco-system is not organized or managed very well at all. I dont expect bitcoin to even survive 6 months, at least not if you expect the coins to be worth anything or to be traded in any substantial amounts. That is my analysis over the years that I have been involved with the project, and I am sorry to say, many of you are probably wasting your time. I hope things do go well, I am just not optimistic.

Can somebody please tell me how the author of the below now spews the above?

I am interested in possibly acquiring a bitcoin loan of about 1000 BTC. I would pay back monthly with bitcoins. I am a trusted member of the community, and am active on the forums and IRC. Would anyone offer me the loan, at how much interest and with what conditions attached?


He sure the hell was optimistic when he wanted to borrow some bitcoins.

~Bruno~


No no no, that was the guy who hacked his account! The OP would never, ever scam anyone! He is just interested in a real, honest, non-biased discussion on why BITCOIN IS DOOOOOOOOMED!

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July 09, 2012, 07:44:46 PM
 #86

Uhm, I am sensing some negativity, I just wanted to start a discussion on Bitcoin.

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July 09, 2012, 07:45:52 PM
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I have thought about this question for a long time, is bitcoin actually viable. It began as a curiosity, I was wondering how could a currency be totally peer to peer, totally trust-less, and after discovering Bitcoin I couldn't possibly see how it worked. I think looked and realized it wasn't actually a currency, it was more of a commodity, However, the problems with bitcoin are immense. The main problem I see with bitcoin is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. The majority of people keeping the price where it is, are essentially in it to profit in either the short-medium term and I expect that they have little care for ensuring the market is stable, or that bitcoin grows. The software is difficult to use, and seems to be designed by the kind of people who dont understand the typical financial types that will use bitcoin on a regular basis. Copying and pasting bitcoin public keys all day, is not going to work with anyone, the software needs to be designed to be user-friendly and perhaps even integrated with spreadsheet or accounting software. Also, the project, community and general Eco-system is not organized or managed very well at all. I dont expect bitcoin to even survive 6 months, at least not if you expect the coins to be worth anything or to be traded in any substantial amounts. That is my analysis over the years that I have been involved with the project, and I am sorry to say, many of you are probably wasting your time. I hope things do go well, I am just not optimistic.

Can somebody please tell me how the author of the below now spews the above?

I am interested in possibly acquiring a bitcoin loan of about 1000 BTC. I would pay back monthly with bitcoins. I am a trusted member of the community, and am active on the forums and IRC. Would anyone offer me the loan, at how much interest and with what conditions attached?

He sure the hell was optimistic when he wanted to borrow some bitcoins.

~Bruno~


No no no, that was the guy who hacked his account! The OP would never, ever scam anyone! He is just interested in a real, honest, non-biased discussion on why BITCOIN IS DOOOOOOOOMED!

I never got pass the OP before I posted the above. I see now from the second post that everyone was on top of this. Not sure what you're in reference to, but I believe the answer lies somewhere else in this thread.

~Bruno~
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July 09, 2012, 07:47:53 PM
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No no no, that was the guy who hacked his account! The OP would never, ever scam anyone! He is just interested in a real, honest, non-biased discussion on why BITCOIN IS DOOOOOOOOMED!

I never got pass the OP before I posted the above. I see now from the second post that everyone was on top of this. Not sure what you're in reference to, but I believe the answer lies somewhere else in this thread.

~Bruno~


The OP claimed that he wasn't promoting bitcoin, but someone found a post from earlier today where OP was saying that he wanted to start a "cryptowar" with BTC and promote LTC.

OP then claimed his account was hacked and the hacker posted the LTC post Cheesy

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July 09, 2012, 07:50:13 PM
 #89


No no no, that was the guy who hacked his account! The OP would never, ever scam anyone! He is just interested in a real, honest, non-biased discussion on why BITCOIN IS DOOOOOOOOMED!

I never got pass the OP before I posted the above. I see now from the second post that everyone was on top of this. Not sure what you're in reference to, but I believe the answer lies somewhere else in this thread.

~Bruno~


The OP claimed that he wasn't promoting bitcoin, but someone found a post from earlier today where OP was saying that he wanted to start a "cryptowar" with BTC and promote LTC.

OP then claimed his account was hacked and the hacker posted the LTC post Cheesy

It's kinda funny that he used the word "cryptowar"...

Posting on the open, public forums of your "enemies" is hardly what I would call "crypto".

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July 09, 2012, 07:51:40 PM
 #90

I have thought about this question for a long time, is bitcoin actually viable. It began as a curiosity, I was wondering how could a currency be totally peer to peer, totally trust-less, and after discovering Bitcoin I couldn't possibly see how it worked. I think looked and realized it wasn't actually a currency, it was more of a commodity, However, the problems with bitcoin are immense. The main problem I see with bitcoin is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. The majority of people keeping the price where it is, are essentially in it to profit in either the short-medium term and I expect that they have little care for ensuring the market is stable, or that bitcoin grows. The software is difficult to use, and seems to be designed by the kind of people who dont understand the typical financial types that will use bitcoin on a regular basis. Copying and pasting bitcoin public keys all day, is not going to work with anyone, the software needs to be designed to be user-friendly and perhaps even integrated with spreadsheet or accounting software. Also, the project, community and general Eco-system is not organized or managed very well at all. I dont expect bitcoin to even survive 6 months, at least not if you expect the coins to be worth anything or to be traded in any substantial amounts. That is my analysis over the years that I have been involved with the project, and I am sorry to say, many of you are probably wasting your time. I hope things do go well, I am just not optimistic.

Can somebody please tell me how the author of the below now spews the above?

I am interested in possibly acquiring a bitcoin loan of about 1000 BTC. I would pay back monthly with bitcoins. I am a trusted member of the community, and am active on the forums and IRC. Would anyone offer me the loan, at how much interest and with what conditions attached?

He sure the hell was optimistic when he wanted to borrow some bitcoins.

~Bruno~


he got his loan sold it all (at 6.50), got tired of waiting for the price to drop.. so he posted this bs?

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July 09, 2012, 07:52:05 PM
 #91


The OP claimed that he wasn't promoting bitcoin, but someone found a post from earlier today where OP was saying that he wanted to start a "cryptowar" with BTC and promote LTC.

OP then claimed his account was hacked and the hacker posted the LTC post Cheesy

It's kinda funny that he used the word "cryptowar"...

Posting on the open, public forums of your "enemies" is hardly what I would call "crypto".


Well, we are clearly dealing with a mind of the highest caliber here.  We could but only dream of understanding his methods.

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July 09, 2012, 07:59:23 PM
 #92

Yes! Buy as much as you can! Not just BTC but alt currencies too...

Hacked account again?
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July 09, 2012, 08:02:24 PM
 #93

Yes! Buy as much as you can! Not just BTC but alt currencies too...

Hacked again?

No. Just trying to get his post count up there so he can ask for that 1000 BTC loan again and hope some sucker gives him the coins.

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July 09, 2012, 08:09:02 PM
 #94

No. Just trying to get his post count up there so he can ask for that 1000 BTC loan again and hope some sucker gives him the coins.

I enjoy the idea that he thinks that anyone who'd be able to give him a 1000BTC loan wouldn't look at his previous posts.

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July 09, 2012, 08:13:08 PM
 #95

Another one of these threads. haven't seen one in a while.
You know what I have never seen? Someone willing to sell there coins to me cheap. If the sky is falling why won't you sell me some coins at $5? I can help you out before they are worthless. let me guess, your not willing to sell either. This is just a public service announcement because you care so much.  Roll Eyes

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July 09, 2012, 08:14:39 PM
 #96

Stupid OP is stupid.
I was thinking to myself, why bitcoin and similar crypto-currencies seem to be so hidden in obscurity that nobody knows about it, apart from a small number of us here. I thought to myself, the media may not always portray things accurately, but in the internet age alot of websites have sections where you can post comments. I decided to try it out and posted to several news articles which were relevant to economics/business and put short messages about Bitcoin. I was wondering whether anyone thinks this is a good idea, and whether more of us should do this, after all we do all have a stake here if we own coins or are invested in the community here...

Let me know what you think and what your opinion is...

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July 09, 2012, 08:16:44 PM
 #97

5 pages of responses to the OP with half a turd of a brain.

After reading the OP it wasnt hard to see he has zero economics experience or any idea how the financial industry works. OP you should definitely go hang out on 4chan or somethingawfull because I am sure they are short a moron by now.

My timeline on OP:

- Got 1 or 2 cpus mining litecoins
- Value of litecoins moved up even though it still wont take much to crash the price continously for the lulz
- He is now excited about his $4 in "profit"
- He wants to be a big playa now and thinks if he makes noise everywhere about bitcoin being bad he could push the litecoin price up.

I have news for you OP, litecoin will more likely than not take another crash dive real soon when the big dump comes-a-flying.

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July 09, 2012, 08:18:56 PM
 #98

I'd wager OP is kicking himself right now for creating this thread and undoing all the work he did building up a scammer account.

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July 09, 2012, 08:21:46 PM
 #99

5 pages of responses to the OP with half a turd of a brain.

I thought for sure you were going to follow that with how stupid we all are for risking our limbs to feed it. =)

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
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July 09, 2012, 08:30:12 PM
 #100

I have news for you OP, litecoin will more likely than not take another crash dive real soon when the big dump comes-a-flying.
I'd crash it if I could be arsed to pull that old wallet out of my backups. But they aren't worth enough to warrant the hassle.

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July 09, 2012, 09:47:20 PM
 #101

Hmm, perhaps a few possibilities:

1. OP is high
2. OP is hacked, and hacker is posting on a different login session (unlikely)
3. OP is retarded, stupid, an idiot, or some combination of those
4. OP is pushing some kind of agenda (whose?)
5. OP is a scammer trying to raise his post count in order to become more legitimate to new users (also likely) before selling them stuff and running.
  5a. See how he never quotes anyone, so as to leave incriminating or opposing views out of his post history?
6. OP needs to get a life and come back in a few years

7. OP is using reverse psychology and is actually trying to pump up the price of BTC. 

it just hit $7

 Wink
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July 09, 2012, 10:16:38 PM
 #102

I couldn't possibly see how it worked. I think looked and realized it wasn't actually a currency, it was more of a commodity,

Bitcoin is a commodity that is perfectly suited for use as money. It is thus a commodity and a currency, to the extent it is used as such. The best monies, historically, have been commodities also (gold, etc). They are not mutually exclusive traits.


I dont expect bitcoin to even survive 6 months, at least not if you expect the coins to be worth anything or to be traded in any substantial amounts.

How much do you want to bet?  I will bet you $2,000 that Bitcoins will be worth more than $5 in six months. Put up or shut up.

Erik, this guy has no $2000. He is constantly asking for loans on IRC.
His nick there is "mysterybanshee". His OTC. IIRC he banned lately.
But at least he has a funny, albeit dated, webpage.

So why should we case, if this guy thinks that bitcoin will fail, and only because he got no loan?
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July 09, 2012, 10:21:28 PM
 #103

Doomed and BOOM, $7. I like being doomed.

Seriously though, the OP is not quite up to speed. Reading quickly my eyes got caught in the rant about copy pasting Bitcoin addresses... stopped reading right there. Being involved with Bitcoin and somehow missing the significance of QR codes and URI links is simply retarded. It's a paradox of sorts, not possible unless you're really not aware of what is possible with Bitcoin already.


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July 09, 2012, 11:18:31 PM
 #104

That wasn't him. His account was hacked  Roll Eyes
You think so?

Ugh...must be the language gap where I fail to be ironic. Or my total ignorance when it comes to emoticons? I thought when I used roll eye it would point that i certainly doubt that hacked account crap story he pulled out.

Sorry for misunderstanding, of course i don't think someone would crack or hijack his account just to write a bunch of useless posts based on his "analysis" in the OP which consists of not more than 3 not very complicated sentences, and without real intention to reveal why he thinks that bitcoin is in trouble, or doomed.

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July 10, 2012, 12:24:28 AM
 #105

That wasn't him. His account was hacked  Roll Eyes
You think so?

Ugh...must be the language gap where I fail to be ironic. Or my total ignorance when it comes to emoticons? I thought when I used roll eye it would point that i certainly doubt that hacked account crap story he pulled out.

Sorry, sarcasm never translates well on the internet. Unfortunately, the use of sarcasm on the internet requires that you be painfully clear about your position, otherwise you risk misinterpretation. For those that are naturally sarcastic (like me), it's kind of hard to deal with.  Undecided

Sorry for misunderstanding, of course i don't think someone would crack or hijack his account just to write a bunch of useless posts based on his "analysis" in the OP which consists of not more than 3 not very complicated sentences, and without real intention to reveal why he thinks that bitcoin is in trouble, or doomed.
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July 10, 2012, 12:42:05 AM
 #106

Double-jinx!!

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July 10, 2012, 02:13:13 AM
 #107

...The main problem I see with bitcoin is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. ....
Facepalm at line two ... ignore,
Your post has zero content.
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July 10, 2012, 03:07:41 AM
 #108

...The main problem I see with bitcoin is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. ....
Facepalm at line two ... ignore,
Your post has zero content.

Reading the quote as you edited it, Transisto, makes me think of one of Atlas' video: http://www.youtube.com/watch?v=bYuBm8C2Dog
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July 10, 2012, 03:13:29 AM
 #109

dick lol

btw: man up and remove your bitcoin address then op


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July 10, 2012, 03:18:27 AM
 #110

Atlas is back  Grin

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July 10, 2012, 04:06:11 AM
 #111

Quote
Sorry, sarcasm never translates well on the internet. Unfortunately, the use of sarcasm on the internet requires that you be painfully clear about your position, otherwise you risk misinterpretation. For those that are naturally sarcastic (like me), it's kind of hard to deal with.


Ooo! Ooo! theres a thing for that!!

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

Sarcasm punctuation!

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July 10, 2012, 06:42:52 AM
 #112

I am not using reverse psychology to try and increase the price, nor do I care much where the price goes in any case. I am simply trying to provide valuable advice to stop you people wasting your time, effort and money.

Important: https://bitcointalk.org/index.php?topic=92424.0;all

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July 10, 2012, 07:05:18 AM
 #113

How can you say the community is non-existent when there are new bitcoin project popping up almost every day?
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July 10, 2012, 07:07:59 AM
 #114

Unfortionately, there is also 2 projects going down or being abandoned every day too... The community is full of bad people, who have nobodys interests at heart but themselves...

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July 10, 2012, 07:13:21 AM
 #115

I am not using reverse psychology to try and increase the price, nor do I care much where the price goes in any case. I am simply trying to provide valuable advice to stop you people wasting your time, effort and money.

If you care so much  to provide someone here with advice (although no one has asked you, so it's not really polite of you), stop waisting our time writing useless posts just to bump the thread, and try to elaborate one of your sentences for a change, like the latter one:

...the project, community and general Eco-system is not organized or managed very well at all.

In a brief few points, just like rjk analyzed your condition, and after years of your vast experience with a project, how would you organize, or manage the project, the community and general system? Try to be more clear if you can, because your previous posts are just without any substance, and your advices are leading nowhere so far.


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July 10, 2012, 07:23:35 AM
 #116

If you are not going to contribute anything useful, please do not post to this topic! Thank you...

I will give your post a think and come up with a reply later...

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July 10, 2012, 07:32:54 AM
 #117

That question is irrelevant...

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July 10, 2012, 07:37:49 AM
 #118

Can you not read? I said if your post is not useful (ie, off topic) then do not post here!

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July 10, 2012, 07:44:45 AM
 #119

If you are not going to contribute anything useful, please do not post to this topic! Thank you...

I will give your post a think and come up with a reply later...

How can you say I'm not contributing anything useful?
From where I stand, I see my contribution far valuable to the topic than any of your posts right now, as I'm really trying to get why you think that bitcoin is doomed to fail, and why you say there's no organized community, and which eco-system is in non optimal state.

It is a fact that you haven't provided any of those answers, other than just dropped them here ad nauseam, and I've failed to comprehend your message, or as you call it advice.
Speaking of which, what was your advice that you are trying to give to this community?

Think a little and write it down, then post a reply. Take your time and don't rush, if you care for my advice, as rush is what has led you to 6 pages of bashing your nonsense.

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July 10, 2012, 07:48:47 AM
 #120

Just so you know, your OP seems legit as a baseless rant.
Your title, on the other hand, make you look like a complete idiot.
Quote
Why bitcoin is in big trouble and is ultimately doomed!
What part of Bitcoin is now in big trouble ? And what is your definition of doomed ?
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July 10, 2012, 07:53:40 AM
 #121

I can show you forums that have even more posts than that, however most are bots selling viagra... Post count is irrelevant...

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July 10, 2012, 07:59:20 AM
 #122

Quote
The community is fragmented, or non-existent while still trying to persuade itself that it still exists.
Please, Read this out loud a few time and tell me you've chosen the correct words.

irrelevant wording + baseless statement = stop wasting our time
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July 10, 2012, 08:04:56 AM
 #123

...Think a little and write it down, then post a reply. Take your time and don't rush, if you care for my advice, as rush is what has led you to 6 pages of bashing your nonsense.
+1 This is also my advice.

Oh! and use Quotes.
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July 10, 2012, 08:07:40 AM
 #124

I think my comment here just silenced him altogether: https://bitcointalk.org/index.php?topic=92518.msg1020620#msg1020620

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July 10, 2012, 08:13:25 AM
 #125

I think my comment here just silenced him altogether: https://bitcointalk.org/index.php?topic=92518.msg1020620#msg1020620

Obvious troll is obvious.
I lost a huge load of coins in Bitcoinica, I wouldnt trust them or most bitcoin services (even MtGox) ....
Out of nowhere, and he claim he wouldn't trust EVEN MtGox,
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July 10, 2012, 08:18:21 AM
 #126

I think my comment here just silenced him altogether: https://bitcointalk.org/index.php?topic=92518.msg1020620#msg1020620

Obvious troll is obvious.
I lost a huge load of coins in Bitcoinica, I wouldnt trust them or most bitcoin services (even MtGox) ....
Out of nowhere, he claim he wouln't trust MtGox, WTF ?
If anyone here still remember him from #bitcoin-otc, it's no wonder he is trolling here. He publicly admits that the reason he is taking loans is to cover old loans, and we should all give him a loan so that he wouldn't burn his old loaners. With the paltry amount he is dealing with, the ' huge load of coins in Bitcoinica' should probably be no more then a couple of BTC's.

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July 10, 2012, 08:23:28 AM
 #127

If you are not going to contribute anything useful, please do not post to this topic! Thank you...

I will give your post a think and come up with a reply later...

I'm only posting because I have nothing better to do right now (thanks Jack #7).  Better names than I have already clearly labelled this thread repetitive and irrelevant.

However, as someone working with a modest business in BTC (exceeding 10k deposits and 10k in lending), and having seen posts like this over the last year, I wonder why mystery2048 has not bothered to do any reading on the forum.  It's dull finding this crap again and again.

Even if BTC is doomed (1960's Hammer Horror voice - DOOOMED - or maybe a Simpsons version), it has a long way to go before people stop using it.  In the last week I have escrowed a fx deal and two equipment deals (and I don't even offer that as a regular service).  I lose count of the deposit accounts I run, and have an extensive range of loans and investments helping to provide actual assistance to people doing real things.
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July 10, 2012, 04:17:01 PM
 #128

That question is irrelevant...

What question is irrelevant? 

Can you not read? I said if your post is not useful (ie, off topic) then do not post here!

Who are you talking to? 

Could you please quote what you are replying to? 

You make a lot of sense and are starting to win me over, and I want to make sure
I follow your flow of logic⸮

did I use it right Hexadecimal?




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July 10, 2012, 04:21:42 PM
 #129

I am not using reverse psychology to try and increase the price.

That's just what someone using reverse psychology 'would' say.   Wink

In any case if your trolling has anything to do with it, thanks just the same.   Grin
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July 10, 2012, 04:38:20 PM
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I have thought about this question for a long time, is The Internet actually viable. It began as a curiosity, I was wondering how could Communication be totally peer to peer, totally trust-less, and after discovering The Internet I couldn't possibly see how it worked. ...However, the problems with The Internet are immense. The main problem I see with The Internet is reliability and trust. The community is fragmented, or non-existent while still trying to persuade itself that it still exists. The majority of people keeping the price where it is, are essentially in it to profit in either the short-medium term and I expect that they have little care for ensuring the The Internet is stable, or that The Internet grows. The software is difficult to use, and seems to be designed by the kind of people who dont understand the typical people that will use The Internet on a regular basis. Also, the project, community and general Eco-system is not organized or managed very well at all. I dont expect The Internet to even survive 6 months... That is my analysis over the years that I have been involved with the project, and I am sorry to say, many of you are probably wasting your time. I hope things do go well, I am just not optimistic.

Fixed it for you. Pretty sure the whole "Internet" thing isn't going to pan out either.
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July 12, 2012, 08:01:43 AM
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I dont know why the price keeps going up, but you guys need to seriously stop it, as this project is heading nowhere. I am going to stop wasting my time warning you. As for your sarcastic post on the internet, the internet probably has far more users than Bitcoin, by orders of magnitude. I think it has at least 10 x as many users.... In any case, I am tired of repeating myself, and will be considering locking this thread... I may even disappear from the community all-together.

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July 12, 2012, 08:54:49 AM
 #132

I dont know why the price keeps going up, but you guys need to seriously stop it, as this project is heading nowhere. I am going to stop wasting my time warning you. As for your sarcastic post on the internet, the internet probably has far more users than Bitcoin, by orders of magnitude. I think it has at least 10 x as many users.... In any case, I am tired of repeating myself, and will be considering locking this thread... I may even disappear from the community all-together.

Its funny how you say this project is a big wast of time and its going no where, over and over... have you considered your the one wasting time?

you sold all your coins and the price went up... dude go home, have a beer, and forget about bitcoin, Or wait for a good time to buy back.

wtv you do, lock this BS thread

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July 12, 2012, 08:57:47 AM
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I dont know why the price keeps going up, but you guys need to seriously stop it, as this project is heading nowhere. I am going to stop wasting my time warning you. As for your sarcastic post on the internet, the internet probably has far more users than Bitcoin, by orders of magnitude. I think it has at least 10 x as many users.... In any case, I am tired of repeating myself, and will be considering locking this thread... I may even disappear from the community all-together.

its funny to see that you still do "pro litecoins" post in other threads.
you should realize if bitcoins falls really hard - that does not mean ltc goes up. i think it will take a time to build up trust for cryptocurrencies again.

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July 12, 2012, 09:09:12 AM
 #134

I may even disappear from the community all-together.

Don't let the door hit you on the way out.

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July 12, 2012, 09:26:22 AM
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I dont know why the price keeps going up, but you guys need to seriously stop it, as this project is heading nowhere. I am going to stop wasting my time warning you. As for your sarcastic post on the internet, the internet probably has far more users than Bitcoin, by orders of magnitude. I think it has at least 10 x as many users.... In any case, I am tired of repeating myself, and will be considering locking this thread... I may even disappear from the community all-together.

Its funny how you say this project is a big wast of time and its going no where, over and over... have you considered your the one wasting time?

you sold all your coins and the price went up... dude go home, have a beer, and forget about bitcoin, Or wait for a good time to buy back.

wtv you do, lock this BS thread

Yes, I also bought many many coins at £30 USD and was stung quite heavily. If you interest is to loose as much money as possible/gamble, this project is perfect for you...

I may very well lock this thread... if its what you want!

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July 12, 2012, 09:33:59 AM
 #136

Quote
As for your sarcastic post on the internet, the internet probably has far more users than Bitcoin, by orders of magnitude. I think it has at least 10 x as many users....

If I have my alpaca math correct, then this would equate to Bitcoin being used by only 1/10th of the entire world's internet users. At this rate, Bitcoin will never become mainstream.

Theymos, would you be so kind as to close all my user accounts. I can't see myself putting in any more time into this Bitcoin thingy in lieu of this new revelation.

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July 12, 2012, 10:25:12 AM
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I may even disappear from the community all-together.
Honest promise?
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July 12, 2012, 11:59:49 AM
 #138

I dont know why the price keeps going up, but you guys need to seriously stop it, as this project is heading nowhere. I am going to stop wasting my time warning you. As for your sarcastic post on the internet, the internet probably has far more users than Bitcoin, by orders of magnitude. I think it has at least 10 x as many users.... In any case, I am tired of repeating myself, and will be considering locking this thread... I may even disappear from the community all-together.

its funny to see that you still do "pro litecoins" post in other threads.
you should realize if bitcoins falls really hard - that does not mean ltc goes up. i think it will take a time to build up trust for cryptocurrencies again.

This statement is so full of truth and win that I can't help but +1 it. 

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July 12, 2012, 01:47:47 PM
 #139

Walk along guys. Nothing to watch here except being informed that OP is trying to pull his loan scams at #bitcoin-otc.

See explanation here: https://bitcointalk.org/index.php?topic=92518.msg1025422#msg1025422

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July 12, 2012, 09:33:48 PM
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Haha, what a FUD campaign, do yourself a favour and go get a life John...

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July 13, 2012, 07:03:51 PM
 #141

Woo here we go again, first massive problems with bitcoinica, and then the price crashes... Bitcoin is dead! Although the price will probably rally a few more times, the overall outlook looks gloomy...

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July 13, 2012, 07:08:28 PM
 #142

Woo here we go again, first massive problems with bitcoinica, and then the price crashes... Bitcoin is dead! Although the price will probably rally a few more times, the overall outlook looks gloomy...

Worthless troll is worthless. Thanks for playing our game!

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July 14, 2012, 11:40:01 AM
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Woo here we go again, first massive problems with bitcoinica, and then the price crashes... Bitcoin is dead! Although the price will probably rally a few more times, the overall outlook looks gloomy...

Worthless troll is worthless. Thanks for playing our game!

That is the pot calling the kettle black...

Thanks for playing *my* game...

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July 17, 2012, 08:33:57 AM
 #144

Bitcoin is gone, I can see its obvious and inevitable now... The price going up is the first sign of its ultimate failure, and I am so confident that this is the case, I have actually deleted my entire wallet.dat file and all the bitcoins there... Games up guys, time to move to the next project! Smiley

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July 17, 2012, 09:11:14 AM
 #145

Bitcoin is gone, I can see its obvious and inevitable now... The price going up is the first sign of its ultimate failure, and I am so confident that this is the case, I have actually deleted my entire wallet.dat file and all the bitcoins there... Games up guys, time to move to the next project! Smiley

I am sure nobody will miss the 9 bitcent lost forever.  How about next you delete your forum profile?
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July 17, 2012, 09:20:07 AM
 #146

Bitcoin is gone, I can see its obvious and inevitable now... The price going up is the first sign of its ultimate failure, and I am so confident that this is the case, I have actually deleted my entire wallet.dat file and all the bitcoins there... Games up guys, time to move to the next project! Smiley

Yes just like how all other companies whose stocks value went up...were considered "failing"....LOL

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July 17, 2012, 02:17:13 PM
 #147

This dramatic rise in price proves bitcoin is dead!!  Cheesy

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July 17, 2012, 02:24:41 PM
 #148

Actually, thank you again Mystery. Due to your timely link on BTC-E I received 6 Bitcoins back from Zhou's personal compensation fund. A day later would have been too late. I'm sure you did your claim there as well and got something back.
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July 17, 2012, 03:32:07 PM
 #149

Oh lol, that was an accident, im not really trying to help anyone or make anyone any money, and, if I had my choice, I would make the price crash to 0.001. Even still, I am sure this will happen eventually...

Im tired of this... Watch out! Bitcoin, litecoin, namecoin are all doomed!

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July 17, 2012, 03:36:03 PM
 #150

I would make the price crash to 0.001.
Please do this. That would be so awesome!
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July 17, 2012, 03:36:09 PM
 #151

Oh lol, that was an accident, im not really trying to help anyone or make anyone any money, and, if I had my choice, I would make the price crash to 0.001. Even still, I am sure this will happen eventually...

Im tired of this... Watch out! Bitcoin, litecoin, namecoin are all doomed!
The world is doomed on 2012 anyway. Why don't you delete your forum account and jump off the building, just to make this fast?

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July 17, 2012, 03:36:41 PM
 #152

Bitcoin is a risky project and there is a high change that you will lose everything.

I would agree and have always retained this as a baseline concept, or tried to, but would add several things (which are my own personal opinions and projections):

 - It has the best risk/reward ratio of anything I've run across.  (e.g., gambling, precious metals, etc.)

 - The chances of capitalization or loss will be modulated greatly by background skill sets that an individual may or may not have, and also to some extent the structure of the political system which one lives under.

 - It is an opportunity to participate early in a technology which is truly revolutionary and has great potential to have a lasting impact on society.  No matter what the future of Bitcoin itself, the concepts it has introduced more broadly will almost certainly grow and evolve.


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July 17, 2012, 03:40:59 PM
 #153

Bitcoin is gone, I can see its obvious and inevitable now... The price going up is the first sign of its ultimate failure, and I am so confident that this is the case, I have actually deleted my entire wallet.dat file and all the bitcoins there... Games up guys, time to move to the next project! Smiley
I doubt you believe this, or that you deleted your wallet. It just doesn't pass the smell test. Why would you not sell those coins? That would have been more believable.

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July 17, 2012, 03:53:35 PM
 #154

Bitcoin is gone, I can see its obvious and inevitable now... The price going up is the first sign of its ultimate failure, and I am so confident that this is the case, I have actually deleted my entire wallet.dat file and all the bitcoins there... Games up guys, time to move to the next project! Smiley
I doubt you believe this, or that you deleted your wallet. It just doesn't pass the smell test. Why would you not sell those coins? That would have been more believable.

I believe bitcoins being destroyed will end bitcoin quicker, as it will end up in a deflationary spiral which causes market paralysis...

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July 17, 2012, 03:56:46 PM
 #155

Bitcoin is gone, I can see its obvious and inevitable now... The price going up is the first sign of its ultimate failure, and I am so confident that this is the case, I have actually deleted my entire wallet.dat file and all the bitcoins there... Games up guys, time to move to the next project! Smiley
I doubt you believe this, or that you deleted your wallet. It just doesn't pass the smell test. Why would you not sell those coins? That would have been more believable.

I believe bitcoins being destroyed will end bitcoin quicker, as it will end up in a deflationary spiral which causes market paralysis...

Now I get it! Your daddy works for Western Union. Tough luck, buddy.
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July 17, 2012, 04:05:40 PM
 #156

I don't usually say this or do this, but...



OP, have you paid back your loans on Bitcoin-OTC yet?

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July 17, 2012, 04:08:27 PM
 #157

I don't usually say this or do this, but...



OP, have you paid back your loans on Bitcoin-OTC yet?

A) None of your business
B) I am not willing to discuss it

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July 17, 2012, 05:08:52 PM
 #158

Bitcoin is gone, I can see its obvious and inevitable now... The price going up is the first sign of its ultimate failure, and I am so confident that this is the case, I have actually deleted my entire wallet.dat file and all the bitcoins there... Games up guys, time to move to the next project! Smiley
I doubt you believe this, or that you deleted your wallet. It just doesn't pass the smell test. Why would you not sell those coins? That would have been more believable.

I believe bitcoins being destroyed will end bitcoin quicker, as it will end up in a deflationary spiral which causes market paralysis...
Ok, I guess you have your reasons. But you are only hurting yourself right? You can't possibly destroy enough bitcoins to make a difference. The only thing you might be able to do is destroy enough to put upward pressure on the price. That just hurts you and helps bitcoin.

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July 17, 2012, 05:11:11 PM
 #159

I don't usually say this or do this, but...



OP, have you paid back your loans on Bitcoin-OTC yet?

A) None of your business
B) I am not willing to discuss it

Nah, I don't think so. You've 'deleted' your wallet.dat anyway.

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July 18, 2012, 07:37:01 AM
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[redacted]

If you wanna be an idiot on my thread, post elsewhere... You have been reported...

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July 19, 2012, 06:25:47 AM
 #161

Ive been telling everyone I know how stupid bitcoin is, hehe, and the posting constantly to media sites warning people about this... It shouldnt be long before people realise the truth! Smiley

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July 19, 2012, 07:32:28 AM
 #162

Ive been telling everyone I know how stupid bitcoin is, hehe, and the posting constantly to media sites warning people about this... It shouldnt be long before people realise the truth! Smiley

Yup....any minute now...

In related news, I wonder how our somethingawful friends are getting on?  I don't reckon they'll be showing up here a year after their assertions that Bitcoin was on deaths door and that everyone who was involved was an ignorant loon.  The latter may well be true, but that only goes to show that an ignorant loon can be up $1000's/day with a little patience...and there is a chance that we've not seen anything yet.

Although most of the SA guys were pretty lame I actually do miss 'fatlas' who was pretty clever and funny most of the time.  If I were not so lazy I would go find out if they are accepting Bitcoin as payment for membership yet.  It was pretty funny that people were chumped into paying $100's per year for a forum then coming here to call Bitcoin folks retards.


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July 19, 2012, 07:38:37 AM
 #163

Lol, and a typical bitcoin problem, there hasnt been a block for over *2 HOURS*...

Seeing as most people wait 6 confirms for a transaction, I find it very hard that the world economy is going to depend on a system that could take 12 hours potentially to confirm a transaction... Lol, imagine the problems of trying to buy groceries and this happens...

Oh well, time to give more of these useless bitcoins and litecoins away...

Important: https://bitcointalk.org/index.php?topic=92424.0;all

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aq
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July 19, 2012, 07:49:15 AM
 #164

Lol, and a typical bitcoin problem, there hasnt been a block for over *2 HOURS*...

Seeing as most people wait 6 confirms for a transaction, I find it very hard that the world economy is going to depend on a system that could take 12 hours potentially to confirm a transaction... Lol, imagine the problems of trying to buy groceries and this happens...

Oh well, time to give more of these useless bitcoins and litecoins away...
Last block was generated only a few minutes ago
http://blockexplorer.com/
mystery2048
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July 19, 2012, 08:04:47 AM
 #165

Lol, and a typical bitcoin problem, there hasnt been a block for over *2 HOURS*...

Seeing as most people wait 6 confirms for a transaction, I find it very hard that the world economy is going to depend on a system that could take 12 hours potentially to confirm a transaction... Lol, imagine the problems of trying to buy groceries and this happens...

Oh well, time to give more of these useless bitcoins and litecoins away...
Last block was generated only a few minutes ago
http://blockexplorer.com/


Ah your right, it looks like blockchain.info is screwed up... lol...

Important: https://bitcointalk.org/index.php?topic=92424.0;all

Donations: 1HWMQv2VYviAgpy6NWNvVg9JhKm4zcMGS5
vuce
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July 19, 2012, 08:09:25 AM
 #166

Oh well, time to give more of these useless bitcoins and litecoins away...

I will happily take some of those useless bitcoins off you. Address is in my sig. Smiley
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July 19, 2012, 08:19:08 AM
 #167

I am out of bitcoins, and only have litecoins/namecoins... if you post on my Free Coins topic on the newbie forum, id be happy to give you some in the next batch Smiley

Important: https://bitcointalk.org/index.php?topic=92424.0;all

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