Topic: .. (Read 3663 times)

Funny post, and subject title. 

Cultists were bagging on me in August for "selling so low" for an OTC trade I made back in August (600+).

Still bullish long term, but BTC is going to take bumps and bruises for a bit.

I come back to these forums every few months just to look.

Always the same angry losers that lost money due to their own incompetence and impatience.

..and the same paid troll outsourcers in Pakistan and India spamming their nonsense.

I'm sorry, MatTheCat and others like him. But if you buy into ANYTHING anticipating a 1000% return and didn't consider that you could potentially lose 50% or more over the short term, I don't know what to tell you. You have no business investing at all. You might as well be in a casino. Casinos exist for people like you.

Apparently I'm a "bulltard", "cultist" and "bagholder". I'll keep doing what I do, which is to acquire as many BTC as possible through arbitrage and Bitcoin related businesses.

You guys keep doing what you do: Being angry and bitter because you didn't get rich overnight with your 1 BTC investment.

I'll be back in a few months. Enjoy the ride, everyone.

I see I'd have an easier time trying to talk sense to a rusty shovel.  
Fine, stay stupid

wow, you really can't tell the difference!

["Its a fact that you have an opinion."] = ["NotLambchops finds you infantile and/or repulsive" <==statement of fact.]

NotLambchops has an opinion!

That is correct, however BTC is also priced in GPB, EUR etc

You can argue that as the global currency everything is priced in USD. So GBP only buys you stuff because it has a dollar exchange rate. Its tenuous, but this is *your* logic...

Now the man in the street in the UK does not care about the USD value of his GBP. He just uses GBP.

Interestingly, if that same man travels to the USA, or to Europe. They convert their native currency to the local currency, so as they may transact, but in their head they typically do a quick reckoning whenever they see a local price to convert it to their native price so that they may get an intuitive understanding of what the local price actually means to them.

So the act of converting between one abstract currency to another is inherent. Now imagine the man in the street isn't on holiday, but has moved to the USA. How long before he starts thinking in dollars?

All of this demonstrates quite adequately that whilst your point that BTC has a dollar value is correct. What it also proves, which you won't like at all, is that if you consider the internet a "country" and BTC as its native currency (which is exactly what it is - read the white paper) then you have a situation where an economy will develop. That nascent economy has developed, whether you like it or not. You can argue from the rooftops that it is going to fail, but you cannot deny its existence.

The more you shout and the more the bitcoin economy develops, the more crazy you sound.

How did you come up with those ridiculous numbers?
If I had a chance to [repeatedly] bet on those odds, I would do it.

...
It can be regarded as a some sort of a vehicle for currency transfer, even tough it's mostly used for speculation now.

No.
"You are infantile and repulsive" <==opinion.
"NotLambchops finds you infantile and/or repulsive" <==statement of fact.

Now I'm also beginning to suspect that you're a bit slow, but that's neither here nor there.
Anyhow, isn't there some homework you should be doin' or vidya you could be playing?

...
If you do not play a game where you have 10% chance to do 30X you are hopeless

This is the main thing that made me bought bitcoin  in the first place (after reading satoshi's white paper). I would not forgive that to myself if it succeeds. I can accept to loose a few thousands euros, but not playing a game i feel with (very) positive odds ...

All of this demonstrates quite adequately that whilst your point that BTC has a dollar value is correct. What it also proves, which you won't like at all, is that if you consider the internet a "country" and BTC as its native currency (which is exactly what it is - read the white paper) then you have a situation where an economy will develop. That nascent economy has developed, whether you like it or not. You can argue from the rooftops that it is going to fail, but you cannot deny its existence.

http://www.merriam-webster.com/dictionary/opinion
opin·ion noun \ə-ˈpin-yən\
 a belief, judgment, or way of thinking about something : what someone thinks about a particular thing


Your understanding of the word opinion seems to be flawed.

Its a fact that you have an opinion. Your opinion, however is not automatically a fact merely because you hold it.

What you guys fail to understand bitcoin is not a currency itself, it is just a tool for transacting currency. When you send someone 1 btc, or when you buy something  with bitcoin, what you're doing is you're sending him 320 dollars via bitcoin, you're sending him purchasing power of dollar.
Bitcoin is not independent of fiat.  Actually, fiat is what gives bitcoin a value.

I.. find you...  

That alone is sufficient to make my claim factual.

at various points in history, all of the above were once true.

"Nobody" wanting BTC right now does not mean nobody ever will.
Goods being priced in dollars now does not mean they always will be.

All bear posts state only one possible outcome, instead of accepting that the future is uncertain. My position in BTC absolutely re-enforces the fact that I don't assume its going to the moon, it assumes failure and insures me *just in case* it goes to the moon.