Topic: bitcoin is done. (Read 4868 times)

I am up over 1600% on BTC since 2011 so we own some other fools money. 

Yes, I agree with your quote. Don't know if that's your money I now own or someone else's though

oh no we are compleatly sirious! it not just done its outlawed. they say you have to have a piece of paper not backed by gold or anything with there special seal of aproval to buy things. any sort of numbers for traid is no more, also just to be clear and your get the picture and in the know in two years and four days we have to go back to horses bigs sheeps and cows. so you want a bag a suger and two yards of twine? well that will cost two chickens or a hind of a sheep.

dont worry the gov will have a sheet mailed out to everyone describing what is worth what on what animal....and then rite after that they will shut the Post office down cuz its a horrible idea that everyone pays a little and everyone gets a lot. and way to socalistic.

P.S. roads that you drive on and we all pay for so all can enjoy, well from now on (in one year) there will be toll roades at evey single place everywhere. every neiborhood, every high way every light you go threw you will have to pay a toll of 5.50. right hand turn to go to seven 11 its gunna cost you 8.25. WHY!?!?  you ask becouse its to socialit to have a road that we all pay for and everyone can use when the want. its socialist and socialits societys are the devil...... though its working in canada for some reason???

I see no problem at all !  Bitcoin is fine, block are still mined, uses and users growing !  I'm all fine with this volatilty, concidering it normal for a young project like Bitcoin is.. Let it mature, it will take few more years..
I've sold on the way up, then buying on the way down.. I dont care at wich price the trend will reverse from down to up, as I'm now buying until reversal..  Can reverse now, can go to single digit, no problem... It should hit 10x all time high in the next bubble..

By the way, a bet is open for 500$ before January !  I've bet positive on this one.. Place your Bitcoin where your mouth is : http://betsofbitco.in/item?id=1515

Who are you? This is not Proudhon.

Yes, new exchanges are coming.....but I would not make the assumption that we will approach highs again in a few months.

If I've overlooked something, let me know.

OMG, is this proudhon turning bull ?   Watch out for imminent drop in exchanges..

@Ashley, let's agree to disagree on the "neo-keyensian myth" part, you are obvious not a macroeconomist so pardon my inclination to listen to people who actually have a clue. Like Milton Friedman, a strong free market advocate and by no means a keynesian who would be the first to point out the foolishness of the Bitcoin macro design.

As for the "how are people supposed to save using inflationary money" open challenge, the answer is easy. Acquire and hold cash for the short term, a few months at most, then invest them in any way you like: a bank deposit, stock, a retirement fund, land, your teeth, canned beans, ponzi schemes etc. The inflation tax you are subjected to during the hold period, less than 1%, is negligible compared to other taxes - assuming you pay taxes.

There is simply no such thing as 100% safe and stable way to store wealth, and money should not be hijacked for this purpose. What if by the time you retire the fertility drops to such an extend that there aren't enough young people to service all the old people for their hard earned cash ? Well, old people should get their ass back to work then, and realize a careless retirement is not a right. And price inflation is the best mechanism for that. Something you done in the past has a lower value for me today and I refuse to inherit the society's debt towards you.

By high and sell low, and another quote comes to my mind, "A fool and his money are soon parted.".

Well said

Just as you turned bear too early in the bull run, you turn bull when we just started the bear decline. You always have to play against the market don't you?

People are not being educated at all and most buyers/sellers probably have never seen this site. PT Barnum, "There is a sucker born every minute".  The masses will always be fools and smart people will make money.  The earth keeps spinning and rotating around the sun.  These are law of the universe, not subject to ever change.

The problem is every time you get in a bubble the masses are too dumb to remember history (last week) and can't believe they are in a bubble.  Go back and read posts from a few weeks ago.

... Lrn2money.
Money "SHOULD" be a store of value. How the heck else are you going to save? Didn't your mommy teach you when you were a teenager and you got your first checking account that you need at least 6 months of expenses saved in case of emergency/lost job/etc? That's just RESPONSIBLE BEHAVIOR. What about retirement savings? How the heck am I going to save up many hundreds of thousands of $$ for retirement if the money I use is not a STORE OF VALUE?
A statement like "money should not be a store of value" is absolutely retarded and completely ignorant.
Furthermore, the "deflation = bad cuz people don't spend" is a neo-keynesian myth easily disproved by looking at the success of bitcoin businesses and businesses that accept bitcoin for goods/services. And the fact that gold and silver, both deflationary exchanges of value, were used as currency for thousands of years. Is Private Internet Access filing for bankruptcy because people 'aren't spending their deflationary coins?' Wipe Paul Krugman's semen off of your face before your next post, you sound like a bankster. 


PROUDHON BEARISH!
I can't tell whether he actually believes that, or if he's purposely acting as a contrarian indicator to annoy people who actually do believe in the success of bitcoin

BTW, y'all, go back to the 2011 crash and I guarantee you there are a million threads "bitcoin is done." Most of those idiots are probably gone now, and it's safe to ignore the new ones.

C'mon guys we had a bubble in 2011, we now had a bubble in 2013, bitcoin didn't die in 2011, why the hell should it die now??? Did fundamentals change? NO

I think it's gonna make it, after all.  New and professionally run exchanges are in the works as we speak.  MtGox is doing a lot of work, and will be better than ever in a few weeks.  In a few months we could be approaching highs again.

No it's really dead. Not quite as much dead as last time, but definitely more dead than next time it dies again.

This is only because the market is still small. As it gets bigger and bigger this kind of manipulation will become harder and harder to achieve.

Well you are entitled to your opinion but I think you sound like a banker. During the gold standard money was a reliable store of value and inflation virtually non-existant. This happy state of affairs lasted for centuries, benefiting ordinary people but not the elite class. Look at the divergence between the wealthy and the rest today, its at levels never seen before. In free market competition good money drives out bad. Bitcoins will see off the paper ponzi and a good job too.

I bought very late, I know before, but needed (too much) time to understand the principle.
Since, as long as I don't sell my btc back, I cannot say that I lost anything. If I would sell now, yes of course.
I prefer to wait. Maybe at the end the btc dies and I lost all, maybe it will come back and have a future in a few years, so I can spend them to buy stuff or keep a part of it. I think selling now (and loosing 70%) will participate to kill the btc, so I stay.
Cheers, Neo

Try that one day. Want to know what will happen? You will buy all orders from 50 to 200 then the next sell of 0.1 coin would bring the price back down to 50 and you just lost 3/4 of your million, and the orders will get replenished quickly to wait for the next idiot with a million, that's all that is going to happen.

Not really. I don't think demurrage can be sold to regular people. Inflation is simple, everyone can understand that: put your money to work or they will lose value. But having 100 Fc in the account, preparing to buy a car, then see you just missed that price and you have 99.5Fc ? Say whaaat ? "Unit of account" and all that.

Also, they burn the money they collect as miner fees. That just isn't right, it's a very expensive way for society to mint it's money. It's digital gold with demurrage. I think it's better to just gift those money to people who need it - and the Ripple experiment will show if proof of work is really necessary for security.

Otherwise, I 100% concur with the philosophical goals of Freicoin. We should not strive to give rich people an inflation hedge. They should invest, risk and create value. I'm not against wealth, I'm against self-perpetuating wealth, also know as feudalism.

Think of this example: a calamity hits society and everything is harder to produce, be it goods, services, food, etc. Since there are less stuff than before for the same amount of money, increasing prices across the board (aka inflation) are the natural way to restore balance and both wealthy and poor get a share of the goods proportional to their assets, like before. If you strive to maintain the same purchasing power for the holders of wealth, there's no logical outcome other than poor people getting less - because poor people spend most of their wealth while rich people hold it. A more complex argument can be made that even in normal times a 0% guaranteed real return is too high, since no human activity has zero risk.  Zero risk inflation hedges for rich people are always at the expense of poor people.