haha, that gif made me chuckle for a long time.
Bitcoin is just a huge gambling institution with potential for being more.
This $100 ride it's been on the last 24-48 hours is driving me nuts, there's no reason it won't drop further, but then again people have bought up a lot of bitcoins lately, the US stock has gone from 40k+ to 17k at the time of writing this, which means a lot of people have regained faith in it and perhaps enough to start driving the price up.
Topic: Bitcoin, a true warrior beats all enemies !!! (Read 1755 times)
Still thinking that Bitcoin is unsafe?
http://www.zerohedge.com/news/2013-03-24/another-gold-shortage-abn-halt-physical-gold-delivery
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Based on a letter to clients over the weekend, it appears Dutch megabank ABN Amro is changing its precious metals custodian rules and "will no longer allow physical delivery." Have no fear, they reassuringly add, your account will be settled at the bid or offer price in the 'market' and "you need to do nothing" as "we have your investments in precious metals."
How reassuring!
Still thinking that Bitcoin is unsafe?
http://www.zerohedge.com/news/2013-03-24/another-gold-shortage-abn-halt-physical-gold-delivery
Quote
Bitcoin isn't a currency. A currency is a liquid asset that can be exchanged for physical goods and services. Unless you have a hearty coke habit, bitcoin is a security to you (the investor). The price is driven by 100% demand. The nature of bitcoin's structure causes this you can't "ease" bitcoin. A security with pure speculative value (read: a stock without a company) is doomed to be a bubble in the short term and worthless in the long term. Look at how it moved 20-30% in 12 hours on LOW VOLUME. The only thing that could establish bitcoin as an actual "currency" is if businesses started accepting it as payment in a widespread manner, with the shadowy past and clear pump/dump history, good luck with that.
http://www.reddit.com/r/Economics/comments/1c7uee/bitcoin_is_ludicrous_but_it_tells_us_something/c9dwg29
I prefer to think this way.
Whether Bitcoin succeeds or not is not based on someone's opinions.
Bitcoin's success is based on whether the users of a such system manage to build up infrastructures, markets, softwares, hardwares for it.
Quote
Bitcoin isn't a currency. A currency is a liquid asset that can be exchanged for physical goods and services. Unless you have a hearty coke habit, bitcoin is a security to you (the investor). The price is driven by 100% demand. The nature of bitcoin's structure causes this you can't "ease" bitcoin. A security with pure speculative value (read: a stock without a company) is doomed to be a bubble in the short term and worthless in the long term. Look at how it moved 20-30% in 12 hours on LOW VOLUME. The only thing that could establish bitcoin as an actual "currency" is if businesses started accepting it as payment in a widespread manner, with the shadowy past and clear pump/dump history, good luck with that.
http://www.reddit.com/r/Economics/comments/1c7uee/bitcoin_is_ludicrous_but_it_tells_us_something/c9dwg29
Price swings in Bitcoin is because of low real life adaptation, i.e. Bitcoin only businesses. Dealing in bitcoin now as a business makes you a speculator also, as you have to time you purchases and sales.
You can use a third party to avert that risk, or set up your own automated system converting to fiat. There are various profiles you could set up, depending on your desired risk profile.
Price swings in Bitcoin is because of low real life adaptation, i.e. Bitcoin only businesses. Dealing in bitcoin now as a business makes you a speculator also, as you have to time you purchases and sales.
This is not a property of Bitcoin being decentralized, but a government backed bank, would in such a situation, stabilize price to aid it's usability for business.
I think that the coming shorting exchanges starting soon will make price pretty boring. I remember when Bitcoinica "decided" the price on Gox.
More speculation is only a substitute until enough businesses would make price manipulation harder. There could be a real life daily price based on an index of certain goods priced in Bitcoin. Such a "real life trading price" would better reflect Bitcoins value based on actual use. Of course, that would also mean that there would be some authority compositing such index but it would be voluntary but if it is fair and usefull it would be used as the less crazy daily price.
You are absolutely right but we prefer currency that isn't backed up by any government, just because when government stabilizes currency must make a kind of manipulation, not a transparent one. This can be printing money, raising taxes or borowing from outside. All of this, results in taking money from everybody and here is just the opposite and we like this approach. Here nobody will take our money to cover some idiot's losses without even asking us for opinion and stabilisation will come with volume. This is not a property of Bitcoin being decentralized, but a government backed bank, would in such a situation, stabilize price to aid it's usability for business.
I think that the coming shorting exchanges starting soon will make price pretty boring. I remember when Bitcoinica "decided" the price on Gox.
More speculation is only a substitute until enough businesses would make price manipulation harder. There could be a real life daily price based on an index of certain goods priced in Bitcoin. Such a "real life trading price" would better reflect Bitcoins value based on actual use. Of course, that would also mean that there would be some authority compositing such index but it would be voluntary but if it is fair and usefull it would be used as the less crazy daily price.
Imagine Swedish or Norvegian Krown with such devaluation, what would happen?
This currency isn't for weak-hearted and weak-minded.
This currency isn't for weak-hearted and weak-minded.
Not too far from Noway, the Icelandic Krona have had a pretty rough ride.
5 crashes during 2 years of bitcoin. I find that kinda funny. 
http://www.forbes.com/sites/timothylee/2013/04/11/an-illustrated-history-of-bitcoin-crashes/
http://www.forbes.com/sites/timothylee/2013/04/11/an-illustrated-history-of-bitcoin-crashes/
Price swings in Bitcoin is because of low real life adaptation, i.e. Bitcoin only businesses. Dealing in bitcoin now as a business makes you a speculator also, as you have to time you purchases and sales.
This is not a property of Bitcoin being decentralized, but a government backed bank, would in such a situation, stabilize price to aid it's usability for business.
I think that the coming shorting exchanges starting soon will make price pretty boring. I remember when Bitcoinica "decided" the price on Gox.
More speculation is only a substitute until enough businesses would make price manipulation harder. There could be a real life daily price based on an index of certain goods priced in Bitcoin. Such a "real life trading price" would better reflect Bitcoins value based on actual use. Of course, that would also mean that there would be some authority compositing such index but it would be voluntary but if it is fair and usefull it would be used as the less crazy daily price.
This is not a property of Bitcoin being decentralized, but a government backed bank, would in such a situation, stabilize price to aid it's usability for business.
I think that the coming shorting exchanges starting soon will make price pretty boring. I remember when Bitcoinica "decided" the price on Gox.
More speculation is only a substitute until enough businesses would make price manipulation harder. There could be a real life daily price based on an index of certain goods priced in Bitcoin. Such a "real life trading price" would better reflect Bitcoins value based on actual use. Of course, that would also mean that there would be some authority compositing such index but it would be voluntary but if it is fair and usefull it would be used as the less crazy daily price.
Thank you and wish you the same 
Remember that Bitcoin is 4 years old and evolves. We earn Bitcoins as artists and we like it. Soon there will be places to spend them in natural way, it's only a matter of time and mass efect. When 125 years ago Berta Benz drove her husband's invention, it was just a curiosity with no practical use.
Buy a horse!
Buy a horse!
There are places to visit to spend your BTC:
https://en.bitcoin.it/wiki/Trade
And this is even an incomplete list. Still I think you would find plenty of things you would be interested in, also stuff for females.
Remember that Bitcoin is 4 years old and evolves. We earn Bitcoins as artists and we like it. Soon there will be places to spend them in natural way, it's only a matter of time and mass efect. When 125 years ago Berta Benz drove her husband's invention, it was just a curiosity with no practical use.
Buy a horse!
Buy a horse!
There are places to visit to spend your BTC:
https://en.bitcoin.it/wiki/Trade
And this is even an incomplete list. Still I think you would find plenty of things you would be interested in, also stuff for females.
So you are seriously still holding onto your coins? Why don't you sell? It's a catastrophe. I like the concept myself, but it obviously doesn't work atm. You don't have to marry the project. It's completely possible to sell your coins and buy them back later when it's more stable and useful.
Remember that Bitcoin is 4 years old and evolves. We earn Bitcoins as artists and we like it. Soon there will be places to spend them in natural way, it's only a matter of time and mass efect. When 125 years ago Berta Benz drove her husband's invention, it was just a curiosity with no practical use.
Buy a horse!
Buy a horse!
Imagine Swedish or Norvegian Krown with such devaluation, what would happen?
This currency isn't for weak-hearted and weak-minded.
This currency isn't for weak-hearted and weak-minded.
It is still early doors - volatility is to be expected.
The reason doesn't matter, it doesn't make it any more useful.
Imagine Swedish or Norvegian Krown with such devaluation, what would happen?
This currency isn't for weak-hearted and weak-minded.
This currency isn't for weak-hearted and weak-minded.
It is still early doors - volatility is to be expected.
hope he can breathe underwater
C'mon, bitcoin is barely used as a currency, and being this volatile it isn't even useful as a currency. It's a nice concept, but it obviously wasn't traded as anything else than an investment during the rush.
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