bitcoins were being sold for over a million USD per one at MtGox today so this thread failed.
Idiot. That's a glitch, not a market price.
Topic: Bitcoin will never reach $20 again - page 19. (Read 40339 times)
Idiot. That's a glitch, not a market price.
bitcoins were being sold for over a million USD per one at MtGox today so this thread failed.
+1
for the same reason the snills said BTC went to zero, yes we can say BTC went to >1M USD!
you lose.
bitcoins were being sold for over a million USD per one at MtGox today so this thread failed.
So far my prediction has held. It's pretty much been holding in the $13 range for some time and buying support remains weak.
Seriously that post is a troll.The title of the topic is (in case it gets changed sometime)
"Bitcoin will never reach $20 again"
So what if after 3 weeks it hasn't reached $20?
That's a very small percentage of the time between now and "never"
The only possibility of "never" being proven true is if "The Bitcoin" fails before it "ever" reaches $20
For someone who says they know economics, your mathematics and logic skills seem to be rather lacking even in your original thread name ...
Semantics....eventually everyone realizes how completely unfeasible $20 is.
And to the poster who thinks it will never reach $6, I invite you to start a thread so we don't forget your prediction.
So far my prediction has held. It's pretty much been holding in the $13 range for some time and buying support remains weak.
Seriously that post is a troll.The title of the topic is (in case it gets changed sometime)
"Bitcoin will never reach $20 again"
So what if after 3 weeks it hasn't reached $20?
That's a very small percentage of the time between now and "never"
The only possibility of "never" being proven true is if "The Bitcoin" fails before it "ever" reaches $20
For someone who says they know economics, your mathematics and logic skills seem to be rather lacking even in your original thread name ...
So far my prediction has held. It's pretty much been holding in the $13 range for some time and buying support remains weak.
i will make an as equally bold prediction: BTC will never go down to $6 again.
So far my prediction has held. It's pretty much been holding in the $13 range for some time and buying support remains weak.
You had to have open orders that were actually executed during the crackhack in order to qualify.
I have to ask. Why do some people get no fees at Mt.Gox while others get .3% fees? What is their justification for this? Seems unfair as shit, especially because I am in the .3% camp.
Compensation for those who had money and/or Bitcoins tied up at MtGox during the hack and subsequent shutdown.
Nope, I have .3% fees, and I had both USD -and- BTC over there at the time.
I would let them know. Maybe you were overlooked.
I have to ask. Why do some people get no fees at Mt.Gox while others get .3% fees? What is their justification for this? Seems unfair as shit, especially because I am in the .3% camp.
Compensation for those who had money and/or Bitcoins tied up at MtGox during the hack and subsequent shutdown.
Nope, I have .3% fees, and I had both USD -and- BTC over there at the time.
I have to ask. Why do some people get no fees at Mt.Gox while others get .3% fees? What is their justification for this? Seems unfair as shit, especially because I am in the .3% camp.
Compensation for those who had money and/or Bitcoins tied up at MtGox during the hack and subsequent shutdown.
You forget that the future prices may reflect a reason for mining at a loss at the current time. Not all markets remain static and thus they fluctuate. I suspect you will see a fluctuation in the price of namecoins to one bitcoin.
Don't be too sure that anyone is giving away processing power. Those who mine namecoins are holding them for a reason. Same with bitcoin.
Also keep in mind...that early on in bitcoin the pioneers who mined not ALWAYS mined at a profit. They saw the big picture and not just 4 feet in front of their faces.
No, the people mining namecoins simply can't do math. If they had mined bitcoins instead and bought namecoins one of two things will have happened: they'd have wound up with MORE namecoins (30-40% more) or the price of namecoins would have reached difficulty parity with BTC. I suspect a combination of the two. Oh, and more people would be mining NMC because of that price parity, so NMC isn't stuck in 1-2 transaction an hour hell for over a month.
Early bitcoin pioneers didn't have the option to mine "bonuscoins" which easily converted to the exact same bitcoins but with 30-40% more output. If they had you can bet the clever ones would have mined those instead.
You seem to confuse "going long namecoins" with "mining namecoins." The second is a way to accomplish the first, but with a massive penalty.
Your perspective is still focused on the short term. Did bitcoins value go from $0.00001 to $32 in less than a month? No. So you're comment about it been on a downward trend for a month isn't any different than bitcoins not gaining in market value for more than a month.
You keep saying things like "massive penalty" when you can't forecast the price of bitcoins nor namecoins for that matter. For all we know bitcoins could take a shit-dive to $7 for a month then in the meantime give namecoins a month's worth of high times.
Like I said also, Satoshi and the pioneers did take losses in the beginning prior to the recent run up in price in the last 9 months. So how is it a surprise that early adopters of namecoin are taking a loss in the short-term same as Satoshi?
Obviously you're more like a day trader. Make your $1 spend it and then in 6 months realize if you saved that $1 you would have had $1000.
Come back and talk to me in 6 months and we'll see who was short-sighted on the matter.
I have to ask. Why do some people get no fees at Mt.Gox while others get .3% fees? What is their justification for this? Seems unfair as shit, especially because I am in the .3% camp.
Criticize bitcoin: troll
Speculate in the wrong way: troll
Opinion against the status quo? You bet that's a troll
you guys. If you really think it's a troll DON'T FUCKING POST and let it fall off the page.
Speculate in the wrong way: troll
Opinion against the status quo? You bet that's a troll
you guys. If you really think it's a troll DON'T FUCKING POST and let it fall off the page. What, and lose the entertainment? You are like free cable, Clown.
You forget that the future prices may reflect a reason for mining at a loss at the current time. Not all markets remain static and thus they fluctuate. I suspect you will see a fluctuation in the price of namecoins to one bitcoin.
Don't be too sure that anyone is giving away processing power. Those who mine namecoins are holding them for a reason. Same with bitcoin.
Also keep in mind...that early on in bitcoin the pioneers who mined not ALWAYS mined at a profit. They saw the big picture and not just 4 feet in front of their faces.
No, the people mining namecoins simply can't do math. If they had mined bitcoins instead and bought namecoins one of two things will have happened: they'd have wound up with MORE namecoins (30-40% more) or the price of namecoins would have reached difficulty parity with BTC. I suspect a combination of the two. Oh, and more people would be mining NMC because of that price parity, so NMC isn't stuck in 1-2 transaction an hour hell for over a month.
Early bitcoin pioneers didn't have the option to mine "bonuscoins" which easily converted to the exact same bitcoins but with 30-40% more output. If they had you can bet the clever ones would have mined those instead.
You seem to confuse "going long namecoins" with "mining namecoins." The second is a way to accomplish the first, but with a massive penalty.
And since the exchanges know this full well, my guess is that they have at least token mining operations in place so that the system will keep going, even at a loss, if (and it's a big if) all the other miners decide to throw their hands up in the air and shut down.
Bingo. There will always be someone to mine, even out of idealism. We have proof -- just look at namecoins. Anyone currently mining namecoins (rather than mining bitcoins and buying namecoins) is giving away more than 30% of their processing power. Soon they'll be giving away 70% of their processing power. Not everyone is motivated by profit and income.
As long as there's some usefulness at all in the bitcoin network someone will mine. Plenty of people have spare hardware and "free" power and network access. Not everyone's cost basis is the same, and for some even $0 is enough incentive to mine.
You forget that the future prices may reflect a reason for mining at a loss at the current time. Not all markets remain static and thus they fluctuate. I suspect you will see a fluctuation in the price of namecoins to one bitcoin.
Don't be too sure that anyone is giving away processing power. Those who mine namecoins are holding them for a reason. Same with bitcoin.
Also keep in mind...that early on in bitcoin the pioneers who mined not ALWAYS mined at a profit. They saw the big picture and not just 4 feet in front of their faces.
Bank cards charge substantial fees on both the consumer and the vendor. If bitcoin miners can get even a small fraction of the action that banks get, there will be miners everywhere.
And since the exchanges know this full well, my guess is that they have at least token mining operations in place so that the system will keep going, even at a loss, if (and it's a big if) all the other miners decide to throw their hands up in the air and shut down.
Bingo. There will always be someone to mine, even out of idealism. We have proof -- just look at namecoins. Anyone currently mining namecoins (rather than mining bitcoins and buying namecoins) is giving away more than 30% of their processing power. Soon they'll be giving away 70% of their processing power. Not everyone is motivated by profit and income.
As long as there's some usefulness at all in the bitcoin network someone will mine. Plenty of people have spare hardware and "free" power and network access. Not everyone's cost basis is the same, and for some even $0 is enough incentive to mine.
But I am of the opinion that just because it isn't profitable to mine doesn't mean the market is dead. If you know anything about anything concerning trading you will know that there are slow times and there are fast times. They oscillate.
Lack of profitability in mining means slow or totally stalled bitcoin transfers.
Without profitable mining (or someone mining even at a loss) bitcoin dies because coins can't move around.
Even traders need to deposit bitcoins or withdraw them in many cases. So they are dependent on miners as well
And since the exchanges know this full well, my guess is that they have at least token mining operations in place so that the system will keep going, even at a loss, if (and it's a big if) all the other miners decide to throw their hands up in the air and shut down.
But I am of the opinion that just because it isn't profitable to mine doesn't mean the market is dead. If you know anything about anything concerning trading you will know that there are slow times and there are fast times. They oscillate.
Lack of profitability in mining means slow or totally stalled bitcoin transfers.
Without profitable mining (or someone mining even at a loss) bitcoin dies because coins can't move around.
Even traders need to deposit bitcoins or withdraw them in many cases. So they are dependent on miners as well
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