^^^
You are an idiot fuck off. See the yellow ignore button please hit it.
Topic: Bitcoins vast overvaluation - page 2. (Read 4917 times)
I have an idea for a coin that would make bitcoin a thing of the past. One that incentives sharing instead of hoarding. Let someone come out with a coin that pays out a reward the more it is distributed to new market participants and shrinks in value the more centralized it gets. Get a coin that rewards sharing and punishes hoarding. People will forget all about BTC and it would spread like wild fire.
Now I have no idea how you do that, but you nerds can figure something out
Maybe instead of mining new coins into existence you share new coins into existence?
Maybe call it seed money. You have a digital plant that has a dollar(or what ever) value associated with it. As you sell cut-lings or seeds from your plant to other new members your plant grows and so does the the value associated with it. If people start hoarding the seeds or what ever then the plant starts to shrink and along with it the value?.
I know there are a million considerations and tons of holes in the above statements, dont be a dick and say it can never work. It is just a concept.
A coin that has its value tied to the number of new market participants and a reward system for sharing it with new people? just an idea.
Now I have no idea how you do that, but you nerds can figure something out
Maybe instead of mining new coins into existence you share new coins into existence?
Maybe call it seed money. You have a digital plant that has a dollar(or what ever) value associated with it. As you sell cut-lings or seeds from your plant to other new members your plant grows and so does the the value associated with it. If people start hoarding the seeds or what ever then the plant starts to shrink and along with it the value?.
I know there are a million considerations and tons of holes in the above statements, dont be a dick and say it can never work. It is just a concept.
A coin that has its value tied to the number of new market participants and a reward system for sharing it with new people? just an idea.
There are already coins that do a lot of these things. Which makes me feel you really haven't studied deep into what you are even ranting about.
It seems like your issues with Bitcoin are more personal.
Yeah, there's a chance I'd prefer the world of carebear coin than the bitcoin one. What would sway me one way or the other would be whether hoarding leads to more aggressive egotistical oppression where the hoarder bosses everyone else about or if hoarding helps people lead acceptable lives, the jury's out on that matter.
+100
Not in my mind. I know the answer to that question, from dealing with the trolls on bitcoin otc they want you to suck then off just because they have had a few BTC go through their wallets.
Yeah, there's a chance I'd prefer the world of carebear coin than the bitcoin one. What would sway me one way or the other would be whether hoarding leads to more aggressive egotistical oppression where the hoarder bosses everyone else about or if hoarding helps people lead acceptable lives, the jury's out on that matter.
I have an idea for a coin that would make bitcoin a thing of the past. One that incentives sharing instead of hoarding. Let someone come out with a coin that pays out a reward the more it is distributed to new market participants and shrinks in value the more centralized it gets. Get a coin that rewards sharing and punishes hoarding. People will forget all about BTC and it would spread like wild fire.
Now I have no idea how you do that, but you nerds can figure something out
Maybe instead of mining new coins into existence you share new coins into existence?
Maybe call it seed money. You have a digital plant that has a dollar(or what ever) value associated with it. As you sell cut-lings or seeds from your plant to other new members your plant grows and so does the the value associated with it. If people start hoarding the seeds or what ever then the plant starts to shrink and along with it the value?.
I know there are a million considerations and tons of holes in the above statements, dont be a dick and say it can never work. It is just a concept.
A coin that has its value tied to the number of new market participants and a reward system for sharing it with new people? just an idea.
Let's call it CarebearCoinNow I have no idea how you do that, but you nerds can figure something out
Maybe instead of mining new coins into existence you share new coins into existence?
Maybe call it seed money. You have a digital plant that has a dollar(or what ever) value associated with it. As you sell cut-lings or seeds from your plant to other new members your plant grows and so does the the value associated with it. If people start hoarding the seeds or what ever then the plant starts to shrink and along with it the value?.
I know there are a million considerations and tons of holes in the above statements, dont be a dick and say it can never work. It is just a concept.
A coin that has its value tied to the number of new market participants and a reward system for sharing it with new people? just an idea.
I love it
I got 5 CBC's to sell with a block reward of .05 CBC's 
I have an idea for a coin that would make bitcoin a thing of the past. One that incentives sharing instead of hoarding. Let someone come out with a coin that pays out a reward the more it is distributed to new market participants and shrinks in value the more centralized it gets. Get a coin that rewards sharing and punishes hoarding. People will forget all about BTC and it would spread like wild fire.
Now I have no idea how you do that, but you nerds can figure something out
Maybe instead of mining new coins into existence you share new coins into existence?
Maybe call it seed money. You have a digital plant that has a dollar(or what ever) value associated with it. As you sell cut-lings or seeds from your plant to other new members your plant grows and so does the the value associated with it. If people start hoarding the seeds or what ever then the plant starts to shrink and along with it the value?.
I know there are a million considerations and tons of holes in the above statements, dont be a dick and say it can never work. It is just a concept.
A coin that has its value tied to the number of new market participants and a reward system for sharing it with new people? just an idea.
Let's call it CarebearCoin Now I have no idea how you do that, but you nerds can figure something out
Maybe instead of mining new coins into existence you share new coins into existence?
Maybe call it seed money. You have a digital plant that has a dollar(or what ever) value associated with it. As you sell cut-lings or seeds from your plant to other new members your plant grows and so does the the value associated with it. If people start hoarding the seeds or what ever then the plant starts to shrink and along with it the value?.
I know there are a million considerations and tons of holes in the above statements, dont be a dick and say it can never work. It is just a concept.
A coin that has its value tied to the number of new market participants and a reward system for sharing it with new people? just an idea.
I have an idea for a coin that would make bitcoin a thing of the past. One that incentives sharing instead of hoarding. Let someone come out with a coin that pays out a reward the more it is distributed to new market participants and shrinks in value the more centralized it gets. Get a coin that rewards sharing and punishes hoarding. People will forget all about BTC and it would spread like wild fire.
Now I have no idea how you do that, but you nerds can figure something out
Maybe instead of mining new coins into existence you share new coins into existence?
Maybe call it seed money. You have a digital plant that has a dollar(or what ever) value associated with it. As you sell cut-lings or seeds from your plant to other new members your plant grows and so does the the value associated with it. If people start hoarding the seeds or what ever then the plant starts to shrink and along with it the value?.
I know there are a million considerations and tons of holes in the above statements, dont be a dick and say it can never work. It is just a concept.
A coin that has its value tied to the number of new market participants and a reward system for sharing it with new people? just an idea.
Now I have no idea how you do that, but you nerds can figure something out
Maybe instead of mining new coins into existence you share new coins into existence?
Maybe call it seed money. You have a digital plant that has a dollar(or what ever) value associated with it. As you sell cut-lings or seeds from your plant to other new members your plant grows and so does the the value associated with it. If people start hoarding the seeds or what ever then the plant starts to shrink and along with it the value?.
I know there are a million considerations and tons of holes in the above statements, dont be a dick and say it can never work. It is just a concept.
A coin that has its value tied to the number of new market participants and a reward system for sharing it with new people? just an idea.
Dont really expect that. Money is an illusion, just that they will realize that bitcoin is worthless as anything other than a currency. It is not a store of value and is not a retirement plan it is not a finite market either. We have all seen how easy it is to create coins. Let a better coin come out and watch you investment tank.
Keep waiting.
Quote
Money is an illusion, just that they will realize that bitcoin is worthless as anything other than a currency
Dont really expect that. Money is an illusion, just that they will realize that bitcoin is worthless as anything other than a currency. It is not a store of value and is not a retirement plan it is not a finite market either. We have all seen how easy it is to create coins. Let a better coin come out and watch you investment tank.
The point to me is something he just glosses over and that is that there is not an underlying market supporting the bitcoin price. Basically the whole bitcoin market is speculators with no real demand for coins other than drugs and gamblers and they dont need enough coins to justify the price. I dont really care about the other aspects of the artical.
It is like the housing market and the feds bond buying, The real market is not there for homes so they have to create artificial scarcity and use fed bond buying to prop up the price.
Reality will set in at some point, but i guess the saying goes the market can stay irrational longer than you can stay solvent.
It is like the housing market and the feds bond buying, The real market is not there for homes so they have to create artificial scarcity and use fed bond buying to prop up the price.
Reality will set in at some point, but i guess the saying goes the market can stay irrational longer than you can stay solvent.
No one in their right mind is going to wake up one day and realize that the non-material wealth of a brain wallet must become something physical- such a fetish might belong to a Kardashian, or to a taxman, though.
When there is a sentiment about bitcoin to be overvaluated usually means a rally is coming up.
The question is how is that 10k figure derived?
I'll take a stab at it: Addition (+)
You used to be fun. Too bad for you.
The question is how is that 10k figure derived?
I'll take a stab at it: Addition (+)
Cool guy! Not so good at economics though I guess. I'd still vote for him. I wish there was a pirate party in the US...
http://uspirates.org/
The website seems a tad sparce... I like my political parties to have people I can vote for.
It is not difficult to get bitcoin at all, but I don't believe that any new users would like to throw $1000 directly into it without first understand how a wallet works and make sure their coins are secure (That is very tough even for an IT expert)
The users are lacking of motivation, so far there is no real good reason to purchase bitcoin other than long term saving. But that is also the ultimate area that bitcoin excels (no any other existing financial instruments can compete, not even Apple's stock or gold)
There is a worry that the coins' value might drop to zero, people need someone to back it, but that is very easy to achieve for any middle sized investment fond
The users are lacking of motivation, so far there is no real good reason to purchase bitcoin other than long term saving. But that is also the ultimate area that bitcoin excels (no any other existing financial instruments can compete, not even Apple's stock or gold)
There is a worry that the coins' value might drop to zero, people need someone to back it, but that is very easy to achieve for any middle sized investment fond
I think he's making a whole lot of assumptions here that you just can't make.
First of all, let's not forget that there is a large degree of automation in bitcoin trading since, you know, there's an awful lot of programmers around. You can also look back and see all trading robots that have been posted to the forums alone where people literally download and let it run so you have a large population of users who don't know what they're doing just letting the bot do its thing. Since this is the same exact bot over many different accounts, they will all notice the same things and make the same decisions.
In fact, I used to use this knowledge to predict what the bots would do in a certain situation. When I saw that scenario playing out, I would take advantage of the bot's mindlessness and it was making me some pretty good profit. The bots have gotten pretty sophisticated now, and the market is large enough that the risk to me is too great. I wouldn't put it past a bigger player to be taking the same sort of reactionary trades against a programmed hive mind.
This.First of all, let's not forget that there is a large degree of automation in bitcoin trading since, you know, there's an awful lot of programmers around. You can also look back and see all trading robots that have been posted to the forums alone where people literally download and let it run so you have a large population of users who don't know what they're doing just letting the bot do its thing. Since this is the same exact bot over many different accounts, they will all notice the same things and make the same decisions.
In fact, I used to use this knowledge to predict what the bots would do in a certain situation. When I saw that scenario playing out, I would take advantage of the bot's mindlessness and it was making me some pretty good profit. The bots have gotten pretty sophisticated now, and the market is large enough that the risk to me is too great. I wouldn't put it past a bigger player to be taking the same sort of reactionary trades against a programmed hive mind.
What the author illustrated is just a bunch of bots doing automated trading.
Then he went on about the velocity of money which just shows he has a keneysian bias.
Never said anything about anonymous or without fees. Without excessive fees yes, but people have to get paid and without the month that mt gox required to verify.
The best option is coinbase at the moment but wont last.
The best option is coinbase at the moment but wont last.
Why are you complaining so much? It's like you don't even realize that the evolution of a thing like Bitcoin is going to take years, like double digit years. Which is probably the smartest thing that was said in the original article. Bitcoin is still a freaking baby. It is just learning to crawl and stand up.
What did the internet look like in 1996? Yes, and how many people like you were standing around pointing out all the things it couldn't do and how it was going to die? Lots, in case you don't remember. Lots.
there's also localbitcoins, in the case where your local market has evolved enough to have a steady flow of customers doing business with you
Your joking right? unless you live in San Fran. or NYC. There is no real local markets at this point and that is the most expensive way to buy coins.
there's also localbitcoins, in the case where your local market has evolved enough to have a steady flow of customers doing business with you
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