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Topic: Bitcoin will fail - page 2. (Read 8132 times)

sr. member
Activity: 350
Merit: 250
May 31, 2013, 07:14:38 PM
#93
Thank you for adding the 420 in your name. It took me a while to realize that FinShaggy's ramblings were just that of a stoner with wild dreams not grounded in reality.

Bitcoin will fail because you want someone to fund your dream of growing organic tofu and nobody is going to give you BTC for $4/BTC. Damn greedy miners.

You do not need $500,000 for a farm to feed 100 people. Start small with a garden in your back yard and create a CSA subscription at http://www.localharvest.org and only take bitcoins for member payments. Upon success, buy a larger lot and continue to grow.

Or sit in your basement getting stoned.

I fully support people's choice to smoke pot, but I do not have to support the insanity that comes with it.

 I am not FINSHAGGY!
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
May 31, 2013, 07:09:56 PM
#92

The actual cost of producing a bitcoin is currently around $90/BTC and climbing as more ASICs hit the market.


Sure, but only if you're still using legacy mining rigs... What are the speculators for if not to help you keep your mining equipment current?

Well, when it comes down to it...if you are choosing between buying BTC now or paying for a rig that will cost you $90/BTC you have to remember that by the time you get your mining hardware the difficulty will be a lot higher and the cost could be over $130/BTC.

I personally will not order an ASIC because by the time I get it the return on my investment may be lower than if I just buy BTC now.
full member
Activity: 126
Merit: 100
May 31, 2013, 07:05:00 PM
#91

The actual cost of producing a bitcoin is currently around $90/BTC and climbing as more ASICs hit the market.


Sure, but only if you're still using legacy mining rigs... What are the speculators for if not to help you keep your mining equipment current?

legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
May 31, 2013, 06:27:12 PM
#90
If there is no real underlying value to bitcoin, eventually it will drop much closer to the actual cost of producing a bitcoin, whatever that may be

The actual cost of producing a bitcoin is currently around $90/BTC and climbing as more ASICs hit the market.

https://blockchain.info/stats
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
May 31, 2013, 06:15:26 PM
#89
Thank you for adding the 420 in your name. It took me a while to realize that FinShaggy's ramblings were just that of a stoner with wild dreams not grounded in reality.

Bitcoin will fail because you want someone to fund your dream of growing organic tofu and nobody is going to give you BTC for $4/BTC. Damn greedy miners.

You do not need $500,000 for a farm to feed 100 people. Start small with a garden in your back yard and create a CSA subscription at http://www.localharvest.org and only take bitcoins for member payments. Upon success, buy a larger lot and continue to grow.

Or sit in your basement getting stoned.

I fully support people's choice to smoke pot, but I do not have to support the insanity that comes with it.
full member
Activity: 126
Merit: 100
May 31, 2013, 04:49:50 PM
#88

Hint: miners have no control over the rate of generation, the exchange rate or the velocity of the bitcoin economy (which is comparably high).


Looks like your beehive should be the next one on my list to visit... So, tell me, just how succulent are your honecombs and what flowers are used to enhance your fake honey with such exquisite flavor? BTW, do you still remember the bid walls of 2011 crash? Didn't they look something like this?


hero member
Activity: 720
Merit: 500
May 31, 2013, 04:41:17 PM
#87
I would argue that wopwop is closer to correct about the greed statement when it comes to the alternate cryptocurrencies forum here.
Quite possibly, but it mostly amounts to the same thing. A fantastic concept that because it also offers lead-in gains means it will be replicated. No rational observer group would adopt bitcoin, they'd found their own and start at the top of the tree. This is what's happening, and it will keep happening beyond bitcointalk.
hero member
Activity: 728
Merit: 500
May 31, 2013, 04:34:15 PM
#86
99,99% of ppl here are here only for greed, thats you included (you're implying you hold bitcoins to become rich by saying ppl who dont hold bitcoins will regret it, logically implying you're betting that its value in real terms will increase for your own good)

how's your hope for humanity now?
Indeed. Bitcoin will eventually be usurped by another blockchain, and that by another etc until there is a collective effort to formulate a less-pyramid like system. Either that or the crypto of the day will simply serve as a means for facilitating transactions of other currencies and assets that do not suffer the inverse pass-the-parcel method. This was completely inevitable from the start.

I would argue that wopwop is closer to correct about the greed statement when it comes to the alternate cryptocurrencies forum here.
sr. member
Activity: 406
Merit: 250
May 31, 2013, 04:29:23 PM
#85
But I thought Bitcoin was money for the Internet? Why do you wanna buy farms IRL? Do you mean Farmville? I'm completely lost.

Bitcoin is here to replace fiat.

Meh.

All I can say is: I hope it does, but I don't see it happening.
hero member
Activity: 720
Merit: 500
May 31, 2013, 04:23:19 PM
#84
99,99% of ppl here are here only for greed, thats you included (you're implying you hold bitcoins to become rich by saying ppl who dont hold bitcoins will regret it, logically implying you're betting that its value in real terms will increase for your own good)

how's your hope for humanity now?
Indeed. Bitcoin will eventually be usurped by another blockchain, and that by another etc until there is a collective effort to formulate a less-pyramid like system. Either that or the crypto of the day will simply serve as a means for facilitating transactions of other currencies and assets that do not suffer the inverse pass-the-parcel method. This was completely inevitable from the start.
full member
Activity: 126
Merit: 100
May 31, 2013, 04:22:55 PM
#83

Go ahead and send me all your worthless coins and I will see to it that they are disposed of.  Roll Eyes


Let's just hope you'll be faster than the next guy to catch OP's bitcoins on the downslopes.

P.S. Apparently, I'm not the only one working on the vaccine against the GOLD 2.0 bug.  Cool
hero member
Activity: 728
Merit: 500
May 31, 2013, 04:22:00 PM
#82
Quote
. I do not care about divisibilty as that is akin to inflation.

i hope the OP is a troll, posts like these make me lose faith in humanity!

The weak hands will look back with regret some day.

If it makes you feel any better, BTC's growth and history so far gives me great hope for humanity


99,99% of ppl here are here only for greed, thats you included (you're implying you hold bitcoins to become rich by saying ppl who dont hold bitcoins will regret it, logically implying you're betting that its value in real terms will increase for your own good)

how's your hope for humanity now?

Wow.

That's some amazing anecdotal evidence on the statistics you have there, thank you very much for enlightening me.  /s

If you honestly think greed is the only reason BTC is what it is today, you need to pay attention and read more.  A lot more.

Also, greed is hardly the only reason why I am here - it's a little something I like to call "not being a fucking idiot".

I believe in the underlying technology and it's potential for the future.  That is true.  If that is true, then it is logically implied that I want to have a part of it now.  This is for a plethora of reasons that, which you were unfortunately unable to divine.  

  • I anticipate further adoption
  • I have and will continue to use it, and encourage retailers to accept it
  • I'm working with others on projects that utilize BTC
  • Through using it, trading it, owning it I'm increasing my knowledge base about a very disruptive technology

I don't doubt that there's plenty of people here for greed, but for you to assume

99,99% of ppl here are here only for greed

says more about your own reasons than it does any other individual's - much less an entire community.

Lol 3 of your 4 reasons start with 'I' and the fourth one's about yourself too. Now I just have an even more increased feeling you're just here for yourself.




offnote:
'disruptive technology' lol. This is an upcoming hype word thats going mainstream!

I was giving you other reasons as to why -I- am here, in an (apparently vain) attempt to correct your flawed judgement based on minimal-to-little evidence.

The term Disruptive Technology has been around since the 90's.
sr. member
Activity: 252
Merit: 250
May 31, 2013, 04:17:06 PM
#81
Quote
. I do not care about divisibilty as that is akin to inflation.

i hope the OP is a troll, posts like these make me lose faith in humanity!

The weak hands will look back with regret some day.

If it makes you feel any better, BTC's growth and history so far gives me great hope for humanity


99,99% of ppl here are here only for greed, thats you included (you're implying you hold bitcoins to become rich by saying ppl who dont hold bitcoins will regret it, logically implying you're betting that its value in real terms will increase for your own good)

how's your hope for humanity now?

Wow.

That's some amazing anecdotal evidence on the statistics you have there, thank you very much for enlightening me.  /s

If you honestly think greed is the only reason BTC is what it is today, you need to pay attention and read more.  A lot more.

Also, greed is hardly the only reason why I am here - it's a little something I like to call "not being a fucking idiot".

I believe in the underlying technology and it's potential for the future.  That is true.  If that is true, then it is logically implied that I want to have a part of it now.  This is for a plethora of reasons that, which you were unfortunately unable to divine.  

  • I anticipate further adoption
  • I have and will continue to use it, and encourage retailers to accept it
  • I'm working with others on projects that utilize BTC
  • Through using it, trading it, owning it I'm increasing my knowledge base about a very disruptive technology

I don't doubt that there's plenty of people here for greed, but for you to assume

99,99% of ppl here are here only for greed

says more about your own reasons than it does any other individual's - much less an entire community.

Lol 3 of your 4 reasons start with 'I' and the fourth one's about yourself too. Now I just have an even more increased feeling you're just here for yourself.




offnote:
'disruptive technology' lol. This is an upcoming hype word thats going mainstream!
hero member
Activity: 728
Merit: 500
May 31, 2013, 04:09:22 PM
#80
Quote
. I do not care about divisibilty as that is akin to inflation.

i hope the OP is a troll, posts like these make me lose faith in humanity!

The weak hands will look back with regret some day.

If it makes you feel any better, BTC's growth and history so far gives me great hope for humanity


99,99% of ppl here are here only for greed, thats you included (you're implying you hold bitcoins to become rich by saying ppl who dont hold bitcoins will regret it, logically implying you're betting that its value in real terms will increase for your own good)

how's your hope for humanity now?

Wow.

That's some amazing anecdotal evidence on the statistics you have there, thank you very much for enlightening me.  /s

If you honestly think greed is the only reason BTC is what it is today, you need to pay attention and read more.  A lot more.

Also, greed is hardly the only reason why I am here - it's a little something I like to call "not being a fucking idiot".

I believe in the underlying technology and it's potential for the future.  That is true.  If that is true, then it is logically implied that I want to have a part of it now.  This is for a plethora of reasons that, which you were unfortunately unable to divine.  

  • I anticipate further adoption
  • I have and will continue to use it, and encourage retailers to accept it
  • I'm working with others on projects that utilize BTC
  • Through using it, trading it, owning it I'm increasing my knowledge base about a very disruptive technology

I don't doubt that there's plenty of people here for greed, but for you to assume

99,99% of ppl here are here only for greed

says more about your own reasons than it does any other individual's - much less an entire community.
legendary
Activity: 905
Merit: 1000
May 31, 2013, 03:42:19 PM
#79
Quote from: CtrlAltBernanke420


Learn to be still.
legendary
Activity: 1400
Merit: 1005
May 31, 2013, 03:39:03 PM
#78
I think OP has 420'd a few too many times.   Cheesy
sr. member
Activity: 252
Merit: 250
May 31, 2013, 03:35:52 PM
#77
Quote
. I do not care about divisibilty as that is akin to inflation.

i hope the OP is a troll, posts like these make me lose faith in humanity!

The weak hands will look back with regret some day.

If it makes you feel any better, BTC's growth and history so far gives me great hope for humanity


99,99% of ppl here are here only for greed, thats you included (you're implying you hold bitcoins to become rich by saying ppl who dont hold bitcoins will regret it, logically implying you're betting that its value in real terms will increase for your own good)

how's your hope for humanity now?
hero member
Activity: 728
Merit: 500
May 31, 2013, 03:33:29 PM
#76
Quote
. I do not care about divisibilty as that is akin to inflation.

i hope the OP is a troll, posts like these make me lose faith in humanity!

The weak hands will look back with regret some day.

If it makes you feel any better, BTC's growth and history so far gives me great hope for humanity

member
Activity: 104
Merit: 10
May 31, 2013, 03:29:40 PM
#75
Quote
. I do not care about divisibilty as that is akin to inflation.

i hope the OP is a troll, posts like these make me lose faith in humanity!
newbie
Activity: 53
Merit: 0
May 31, 2013, 03:14:24 PM
#74
You can already buy things with Bitcoin and more and more stores accept Bitcoin as a payment.
Nobody will give you Bitcoins so you can build your stupid farm. lol
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