Is this a classic "bubble, it's gonna pop, run away" thread?
And I the titles are always in the form of a FUD (Fear, Uncertainty, and Doubt) question.
Topic: BitCoin Death Knell? - page 2. (Read 4368 times)
And I the titles are always in the form of a FUD (Fear, Uncertainty, and Doubt) question.
Rather than argue the merits, and since we all like Open Source and Freedom of Information. I will endeavor to post information that Inquiring Minds want to know, to more appropriately add to information. I will list first, the information, and then ask whether this information should be made public, then I might post.
1. Will the Real Slim Shady Please Stand Up? Identity of MagicalTux and location.
2. LLC information for MTGOX dealing with Bank Accounts in the U.S.
3. How many Accounts are on MTGOX?
4. Volume of New Money on MTGOX after subtracting volume from old accounts. Rate of growth.
5. The DarkPool price Points added to depth charts. Want to know where the DarkBids are? Hmm...
6. Any other questions you might want answered?
Nanotube,
I would never dump 100K BTC onto the market to depress the price, I would slowly trickle it in between the bids and asks to reap the greatest reward.
So place your bids.
Just because I think the price is overall bad for BTC, doesn't mean I don't take advantage of it.
1. Will the Real Slim Shady Please Stand Up? Identity of MagicalTux and location.
2. LLC information for MTGOX dealing with Bank Accounts in the U.S.
3. How many Accounts are on MTGOX?
4. Volume of New Money on MTGOX after subtracting volume from old accounts. Rate of growth.
5. The DarkPool price Points added to depth charts. Want to know where the DarkBids are? Hmm...
6. Any other questions you might want answered?
Nanotube,
I would never dump 100K BTC onto the market to depress the price, I would slowly trickle it in between the bids and asks to reap the greatest reward.
So place your bids.
Just because I think the price is overall bad for BTC, doesn't mean I don't take advantage of it.
Interesting perspective and rational. Game Theory works good in groups, until you apply the Prisoner's Dilemma.
This is assumed to be true, but the prisoner's dilemma was recently put to the test and the results were mixed. Not all users will only do what is in their own best interests, even if they don't know the others and they are forever anonymous. Game theory is just what it says, it's a theory.
you're more than welcome to go and dump a few 100k btc on the markets to depress the price to bring it to where you think it should be. go, do in now! my bids are waiting!
Gottach love the people who screams Bitcoin Bubble, providing me a reason to post my Bitcoin Bubble Comic.
90%+ of these Ops are just bitter.
If you are excited by Bitcoin the technology and can understand the value behind it, i.e. fast, frictionless, semi-anonymous transfers of money without involving third parties, then you would probably see $7/btc as dirt cheap. If you don't see the value in it, look a little harder at the current choices of bank checks/wires, western union, paypal, snail mail, etc. See it now?
but haters gonna hate.
If you are excited by Bitcoin the technology and can understand the value behind it, i.e. fast, frictionless, semi-anonymous transfers of money without involving third parties, then you would probably see $7/btc as dirt cheap. If you don't see the value in it, look a little harder at the current choices of bank checks/wires, western union, paypal, snail mail, etc. See it now?
but haters gonna hate.
Oh Contraire, not bitter, nor hateful, but fearful. Fearful of a rapid and successive decline that could destroy any and all credibility. I don't subscribe to the Labor Theory, although Labor is a factor in cost, it most certainly isn't the driving factor. A simple example is all it takes to show a fallacy in the Labor Theory. It might cost you $1 Million Dollars to produce an Apple, so the people will eat Oranges instead.
One must be realistic when looking at BTC, does the value = $7 ? Should it? I am not doubting that a BTC could equal $7, it just shouldn't be there now, for the greater good of BTC. However, if the groups keep sub-dividing into their smaller groups, then let the best man win. At the cost of the whole.
you're more than welcome to go and dump a few 100k btc on the markets to depress the price to bring it to where you think it should be. go, do in now! my bids are waiting!
Is this a classic "bubble, it's gonna pop, run away" thread?
I heard "Bitcoin Bubble!"
http://www.bitcoinweekly.com/articles/comic-reaction-after-dramatic-rise-of-bitcoin-s-value
Interesting perspective and rational. Game Theory works good in groups, until you apply the Prisoner's Dilemma. Once a better deal is offered to a specific group or individual, Game Theory goes out the window with the birds. People will work in "their own" best interests and destroy the whole when it is beneficial to them, even though it is detrimental to the group. The big test in value will be the next best competing Exchange Market.
Is this a classic "bubble, it's gonna pop, run away" thread?
90%+ of these Ops are just bitter.
If you are excited by Bitcoin the technology and can understand the value behind it, i.e. fast, frictionless, semi-anonymous transfers of money without involving third parties, then you would probably see $7/btc as dirt cheap. If you don't see the value in it, look a little harder at the current choices of bank checks/wires, western union, paypal, snail mail, etc. See it now?
but haters gonna hate.
If you are excited by Bitcoin the technology and can understand the value behind it, i.e. fast, frictionless, semi-anonymous transfers of money without involving third parties, then you would probably see $7/btc as dirt cheap. If you don't see the value in it, look a little harder at the current choices of bank checks/wires, western union, paypal, snail mail, etc. See it now?
but haters gonna hate.
Oh Contraire, not bitter, nor hateful, but fearful. Fearful of a rapid and successive decline that could destroy any and all credibility. I don't subscribe to the Labor Theory, although Labor is a factor in cost, it most certainly isn't the driving factor. A simple example is all it takes to show a fallacy in the Labor Theory. It might cost you $1 Million Dollars to produce an Apple, so the people will eat Oranges instead.
One must be realistic when looking at BTC, does the value = $7 ? Should it? I am not doubting that a BTC could equal $7, it just shouldn't be there now, for the greater good of BTC. However, if the groups keep sub-dividing into their smaller groups, then let the best man win. At the cost of the whole.
90%+ of these Ops are just bitter.
If you are excited by Bitcoin the technology and can understand the value behind it, i.e. fast, frictionless, semi-anonymous transfers of money without involving third parties, then you would probably see $7/btc as dirt cheap. If you don't see the value in it, look a little harder at the current choices of bank checks/wires, western union, paypal, snail mail, etc. See it now?
but haters gonna hate.
If you are excited by Bitcoin the technology and can understand the value behind it, i.e. fast, frictionless, semi-anonymous transfers of money without involving third parties, then you would probably see $7/btc as dirt cheap. If you don't see the value in it, look a little harder at the current choices of bank checks/wires, western union, paypal, snail mail, etc. See it now?
but haters gonna hate.
Regardless of what the current USD to BTC exchange rate is, the fact is that people can buy goods and services in BTC for prices that reflect their value is USD. This is what give BTC its value.
The OP claimed there were analysts who claimed that bitcoin should have the value of zero, or at least less than the $7 for which you can buy it now.
I have never seen anybody with any half-rational arguments who claimed that it should be valued at $1 or $0.01 or whatever, and if those predictions exist it would be very interesting to see them.
There have been many analysis on the current price by people in the industry and why it shouldn't be there.
Links please?
Regardless of what the current USD to BTC exchange rate is, the fact is that people can buy goods and services in BTC for prices that reflect their value is USD. This is what give BTC its value.
The amount of goods and services being traded for Bitcoin is an unknown. Due to the nature of the currency, it is likely to always remain so. I suspect, but can't prove, of course, there's quite a lot of illegal goods being traded, drugs being a prime candidate. You'll never get a good picture of how much that drives BTC prices.
There have been many analysis on the current price by people in the industry and why it shouldn't be there.
Links please?
The light bulb is burning bright. Maybe, a little to bright.
There have been many analysis on the current price by people in the industry and why it shouldn't be there. There is a complex and incalculable effect as to the current price. Sure, fundamentals apply as they should but they do not include the "human factor." One key to the imminent fall in the BTC values is as price goes up overall volume goes down. What is happening is that BTC is breaking away from the mainstream and being supported by a sub-group. This sub-group will eventually be replaced by yet another sub-group, and on and on until only a relative small group of people use it.
Not wanting to see the BTC reduced to history, we need to bring prices down to where people will want to take a chance. No realistic person is going to rely on data from one exchange (MTGOX). Whom, by the way, should be congratulated as one of the first winners in the BTC community, even though generally very little is known about him. Almost mystic in nature. Another problem for most.
As volume decreases expect greater swings in price. There is over 6 Million BTC and around less than 1% of that is traded and setting the price for the vast majority.
But irrespective of that, ask some basic questions. Are enough people currently using BTC? If a new person wants to get into BTC, is it easy to acquire and exchange to the BTC? Is the cost of doing so on par with their own currency or out of balance? Once converted, are their converted funds relatively stable until they use the BTC?
There have been many analysis on the current price by people in the industry and why it shouldn't be there. There is a complex and incalculable effect as to the current price. Sure, fundamentals apply as they should but they do not include the "human factor." One key to the imminent fall in the BTC values is as price goes up overall volume goes down. What is happening is that BTC is breaking away from the mainstream and being supported by a sub-group. This sub-group will eventually be replaced by yet another sub-group, and on and on until only a relative small group of people use it.
Not wanting to see the BTC reduced to history, we need to bring prices down to where people will want to take a chance. No realistic person is going to rely on data from one exchange (MTGOX). Whom, by the way, should be congratulated as one of the first winners in the BTC community, even though generally very little is known about him. Almost mystic in nature. Another problem for most.
As volume decreases expect greater swings in price. There is over 6 Million BTC and around less than 1% of that is traded and setting the price for the vast majority.
But irrespective of that, ask some basic questions. Are enough people currently using BTC? If a new person wants to get into BTC, is it easy to acquire and exchange to the BTC? Is the cost of doing so on par with their own currency or out of balance? Once converted, are their converted funds relatively stable until they use the BTC?
Jump to: