Topic: Bitcoin: Believer, or not (Read 2419 times)

Quote from: benjamindees on April 25, 2013, 01:12:53 AM

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.

Controlling it how? Are they running a mining pool?

Unless BTC exchanges remove any fiat money from trades, controlling (manipulating) BTC prices will be so easy for the big (bad) guys. So, they don't need a mining pool at all.

By "controlling" I guess you mean "buying and selling on the open market?" That method of manipulating prices doesn't really work, since it results in selling your stash to others on the market, who will just take your thrown away money and keep it.

Shh! You're interfering with our ability to blame boogeymen!

myrkul

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Quote from: Rassah on May 02, 2013, 12:01:42 PM

Quote from: AlgoSwan on May 02, 2013, 11:24:08 AM

Quote from: benjamindees on April 25, 2013, 01:12:53 AM

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.

Controlling it how? Are they running a mining pool?

Unless BTC exchanges remove any fiat money from trades, controlling (manipulating) BTC prices will be so easy for the big (bad) guys. So, they don't need a mining pool at all.

By "controlling" I guess you mean "buying and selling on the open market?" That method of manipulating prices doesn't really work, since it results in selling your stash to others on the market, who will just take your thrown away money and keep it.

I suppose option 2 for "controlling" a market valued in fiat is to inflate and deflate your currency, so as to manipulate the price, as valued in that fiat. Seems a bit excessive, though.

Rassah

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Quote from: AlgoSwan on May 02, 2013, 11:24:08 AM

Quote from: benjamindees on April 25, 2013, 01:12:53 AM

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.

Controlling it how? Are they running a mining pool?

Unless BTC exchanges remove any fiat money from trades, controlling (manipulating) BTC prices will be so easy for the big (bad) guys. So, they don't need a mining pool at all.

By "controlling" I guess you mean "buying and selling on the open market?" That method of manipulating prices doesn't really work, since it results in selling your stash to others on the market, who will just take your thrown away money and keep it.

AlgoSwan

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Quote from: benjamindees on April 25, 2013, 01:12:53 AM

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.

Controlling it how? Are they running a mining pool?

Unless BTC exchanges remove any fiat money from trades, controlling (manipulating) BTC prices will be so easy for the big (bad) guys. So, they don't need a mining pool at all.

Spendulus

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Quote from: Snowfire on April 29, 2013, 09:37:29 PM

Do the Inebriati drink single malt, or cheap rotgut?

Many feel the calling, but few are chosen.

After Initiation into the Inner Sanctum, when one feels the spirits come over him, then forth they proceed with only the finest VSOP Cognacs.

Thus shall ye be guided by the Spirits.

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Do the Inebriati drink single malt, or cheap rotgut?

Spendulus

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Quote from: benjamindees on April 25, 2013, 01:12:53 AM

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.

Controlling it how? Are they running a mining pool?

No. They are the Illuminati.

Set against us.

The Inebriati.

Rassah

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Quote from: benjamindees on April 25, 2013, 01:12:53 AM

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.

Controlling it how? Are they running a mining pool?

myrkul

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Quote from: benjamindees on April 25, 2013, 01:12:53 AM

Quote from: myrkul on April 24, 2013, 09:12:46 PM

Quote from: benjamindees on April 24, 2013, 08:51:15 PM

Specifically, I mean those trying to push up the price via regulation. It can only end badly.

Trying to push the price up via regulation?

Yes. I'm surprised you don't recognize this. The US currency (the global reserve currency) is a centralized, money-printing extortion racket. Bitcoin only has value in terms of this racket if it can be controlled, and if it can be used to control others.

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.

Ah. Well, I've not really followed the bitcoin foundation much. I tend to ignore anyone who presumes to think he can tell me what I can and cannot do with my property.

benjamindees

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Quote from: myrkul on April 24, 2013, 09:12:46 PM

Quote from: benjamindees on April 24, 2013, 08:51:15 PM

Specifically, I mean those trying to push up the price via regulation. It can only end badly.

Trying to push the price up via regulation?

Yes. I'm surprised you don't recognize this. The US currency (the global reserve currency) is a centralized, money-printing extortion racket. Bitcoin only has value in terms of this racket if it can be controlled, and if it can be used to control others.

The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.

Rassah

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Quote from: myrkul on April 24, 2013, 10:18:07 PM

Quote from: Rassah on April 24, 2013, 10:06:18 PM

Quote from: ArbitrageX on April 24, 2013, 09:05:21 PM

I see the value going to $0.00.

XRP will overtake. Is this not obvious? Do people really like waiting 10 minutes for a transaction?

You do know XRP is not actually money, is not suppose to be worth anything, and is just placeholders for IOUs, right? I hope you didn't sell all your bitcoins to "invest" in XRP Undecided

In other words, it's just like FRNs?

FRN is supposed to be money that's supposed to hold value at least. XRP can be made worthless at any time due to the company behind Ripple holding billions of them and just giving them out for free (I got 20,000 just yesterday)

myrkul

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Quote from: Rassah on April 24, 2013, 10:06:18 PM

Quote from: ArbitrageX on April 24, 2013, 09:05:21 PM

I see the value going to $0.00.

XRP will overtake. Is this not obvious? Do people really like waiting 10 minutes for a transaction?

You do know XRP is not actually money, is not suppose to be worth anything, and is just placeholders for IOUs, right? I hope you didn't sell all your bitcoins to "invest" in XRP Undecided

In other words, it's just like FRNs?

Rassah

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Quote from: ArbitrageX on April 24, 2013, 09:05:21 PM

I see the value going to $0.00.

XRP will overtake. Is this not obvious? Do people really like waiting 10 minutes for a transaction?

You do know XRP is not actually money, is not suppose to be worth anything, and is just placeholders for IOUs, right? I hope you didn't sell all your bitcoins to "invest" in XRP Undecided

myrkul

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Quote from: benjamindees on April 24, 2013, 08:51:15 PM

Specifically, I mean those trying to push up the price via regulation. It can only end badly.

Trying to push the price up via regulation?

ArbitrageX

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I see the value going to $0.00.

XRP will overtake. Is this not obvious? Do people really like waiting 10 minutes for a transaction?

benjamindees

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Quote from: myrkul on April 23, 2013, 02:25:21 PM

Quote from: benjamindees on April 23, 2013, 04:01:20 AM

I'm a believer, but the number of people actively trying to turn Bitcoin into a ponzi scheme is starting to wear on me.

How are they doing that??

I think he means the pump-and-dump attempts.

Specifically, I mean those trying to push up the price via regulation. It can only end badly.

nebulus

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... it only gets better...

Let's all vote Ponzi, cause the price dive and stock up.

Rassah

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Quote from: manfred on April 24, 2013, 12:17:22 PM

im a believer in crypto currencies not bitcoin, it has to many ills. momentum means nothing just look at an avalanche it too has momentum then look at the devastation it leaves behind when it comes to an hold. until the beginning of the year bitcoin was doing fine.

Yeah, but everyone who rides the avalanche ends up with so wealthy with so much snow and water!

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im a believer in crypto currencies not bitcoin, it has to many ills. momentum means nothing just look at an avalanche it too has momentum then look at the devastation it leaves behind when it comes to an hold. until the beginning of the year bitcoin was doing fine.

myrkul

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Quote from: Rassah on April 23, 2013, 04:23:38 PM

Quote from: myrkul on April 23, 2013, 02:25:21 PM

Quote from: benjamindees on April 23, 2013, 04:01:20 AM

I'm a believer, but the number of people actively trying to turn Bitcoin into a ponzi scheme is starting to wear on me.

How are they doing that??

I think he means the pump-and-dump attempts.

I wish people would call it all "Nigerian scamming attempts." It's no more accurate than the ponzi claims, but it at least sounds amusing.

I saw a thread claiming there actually were Nigerian bitcoin scams, though I don't know how much credibility to assign it. And remember that site that would let you buy all 21 million coins?

Rassah

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Quote from: myrkul on April 23, 2013, 02:25:21 PM

Quote from: benjamindees on April 23, 2013, 04:01:20 AM

I'm a believer, but the number of people actively trying to turn Bitcoin into a ponzi scheme is starting to wear on me.

How are they doing that??

I think he means the pump-and-dump attempts.

I wish people would call it all "Nigerian scamming attempts." It's no more accurate than the ponzi claims, but it at least sounds amusing.

myrkul

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Quote from: benjamindees on April 23, 2013, 04:01:20 AM

I'm a believer, but the number of people actively trying to turn Bitcoin into a ponzi scheme is starting to wear on me.

How are they doing that??

I think he means the pump-and-dump attempts.

Rassah

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Quote from: benjamindees on April 23, 2013, 04:01:20 AM

I'm a believer, but the number of people actively trying to turn Bitcoin into a ponzi scheme is starting to wear on me.

How are they doing that??

benjamindees

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I'm a believer, but the number of people actively trying to turn Bitcoin into a ponzi scheme is starting to wear on me.

Walter Rothbard

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Bytecoin: 8VofSsbQvTd8YwAcxiCcxrqZ9MnGPjaAQm

Bitcoin is a potential means of ending the business cycle and all of the poverty, misery, and death that it causes. For this reason, I am serious about promoting Bitcoin. When the price goes up, I cheer, not because I own a lot of BTC (I don't), but because it is one measure of mankind's escape from business cycle currencies into safe currency and a bright future.

myrkul

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Quote from: John Self on April 22, 2013, 09:09:19 PM

Quote from: myrkul on April 22, 2013, 08:25:03 PM

Quote from: asdf on April 22, 2013, 07:47:18 PM

Quote from: myrkul on April 22, 2013, 08:25:03 PM

Bitcoin won't replace fiat currencies for day to day transactions but in certain markets.

Every time I see this, it's never followed up with an argument.

Here's the argument: It requires significant infrastructure before it can be used in the place of cash. That is a barrier to some markets. This is why I prefer bullion for face to face transactions.

I'm a fan of cryptocurrencies. But why not just use bitcoins online and cash when I need to buy some lunch? Roll Eyes

Fiat sucks, that's why. Unless by "cash," you meant a commodity-backed currency, like the dollar used to be?

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Quote from: asdf on April 22, 2013, 07:47:18 PM

Quote from: asdf on April 22, 2013, 07:47:18 PM

Bitcoin won't replace fiat currencies for day to day transactions but in certain markets.

Every time I see this, it's never followed up with an argument.

Here's the argument: It requires significant infrastructure before it can be used in the place of cash. That is a barrier to some markets. This is why I prefer bullion for face to face transactions.

I'm a fan of cryptocurrencies. But why not just use bitcoins online and cash when I need to buy some lunch? Roll Eyes

myrkul

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Bitcoin won't replace fiat currencies for day to day transactions but in certain markets.

Every time I see this, it's never followed up with an argument.

Here's the argument: It requires significant infrastructure before it can be used in the place of cash. That is a barrier to some markets. This is why I prefer bullion for face to face transactions.

asdf

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