Topic: 2013-03-29 Moneyness: Selling out of the Bitcoin ledger (Read 1099 times)
Tough to know what people really do... unless you hire a PI, haha!
Price just increased. He sold? Wrong move! Or maybe he bought 
Price action is indicating he will be very wrong.
He's keeping his mind open on the possibility that he might be wrong, maintaining the 10% of the coins he has. Actions generally speak way louder than words.
Seriously stupid article.
Bitcoins are worthless because they're really just a spot in a ledger, redeemable for nothing.
That has been fundamental to bitcoin since day one. Why did he ever bother to acquire bitcoins in the first place? Why is he keeping 10% now?
It's like saying he realized it's impossible to win the lottery, so he's going to buy fewer tickets from now on.
Bitcoins are worthless because they're really just a spot in a ledger, redeemable for nothing.
That has been fundamental to bitcoin since day one. Why did he ever bother to acquire bitcoins in the first place? Why is he keeping 10% now?
It's like saying he realized it's impossible to win the lottery, so he's going to buy fewer tickets from now on.
Koning is moving his money from a ledger that no one controls to a ledger entry that corrupt people control.
Not a very rational plan.
Not a very rational plan.
I look forward to his capitulation when the banks start levying 'fees' to help them survive, ala Cyprus.
He's keeping 10% even if that is inconsistent with the argument.
Love it.
Love it.
Basically a rehash of "no intrinsic value" + "altchain supply" arguments.
http://jpkoning.blogspot.fr/2013/03/selling-out-of-bitcoin-ledger.html
Quote
I'm starting to sell my position in bitcoin. I'll probably keep about 10% of my overall position but the rest will be repatriated back to the conventional fiat banking system.
http://jpkoning.blogspot.fr/2013/03/selling-out-of-bitcoin-ledger.html
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