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ThiagoCMC

legendary

Activity: 1204

Merit: 1000

฿itcoin: Currency of Resistance!

Quote from: Crs on August 22, 2011, 02:09:24 AM

Quote from: fcmatt on August 21, 2011, 11:32:13 PM

Quote from: navigator on August 21, 2011, 11:29:14 PM

I wasn't there during the first trades but someone must have only bought or sold a few at .49 BTC most likely to themselves. Do you even know what .49 would mean? It would mean I would have made over 100 BTC in the last 12 hours with only 2 cards. Even at .0014 and the current difficulty it's still about twice as profitable as bitcoin. IXcoin is at .001 and difficulty is 16384. That's nothing. IXcoin is worthless now. I'm sure solidcoin is not far behind and headed in that direction but as of now its definately more profitable than bitcoin.

What I do not understand is: Who are the idiots trading btc for these stupidcoins? What does that say about a small part of
the community who has btc in their possession? yikes.

Let me help you with that: most users don't give a fuck about bitcoin,ixcoin,i0coin, etc or about descentralized, anonymous claims. You know why ? Because it's all bullshit! None of the above currency is descentralized or anonymous, or you can consider them as anonymous as the internet is, which we know is not as anonymous as we would like. So, the point is that most of us are here just for the money. Oh, and if I were to earn money from it, I think I would trade any coin is out there.

Cheers!

Well, no. I'm here, with Bitcoins, not because of what you just said. But instead, because Bitcoins are a awesome power tool against banks and govs.

I even don't like money! Honestly, I prefer a society based in a "resource based economy", not monetary based, without any money.

Cheers!
Thiago

Gabi

legendary

Activity: 1148

Merit: 1008

If you want to walk on water, get out of the boat

Wait for gabicoin, that will be the true revolution! Or maybe not.

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: joulesbeef on August 22, 2011, 02:58:22 AM

if you lose gold someone else can find it again.

This possibility is equal to someone breaking the SHA256 algo in the future and finding the "lost' bitcoins... But then, what will happen to all bitcoins that are not lost?

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: ThomasV on August 22, 2011, 02:53:07 AM

gold is physical, and very old.

Aah... So, it must be something very bad?

joulesbeef

sr. member

Activity: 476

Merit: 250

moOo

if you lose gold someone else can find it again.

yeah I was under zero expectations that any of the new currencies would survive or that they were even currencies. They were complex gambling games.

I still say they had their uses as learning experiences for when someone does want to come up with a coin that might actually replace bitcoin or a coin for a new nitch like namecoin. They may have been jokes, and games but they taught us a lot.

Probably a lot of people are learning they arent real challenges to bitcoin when all they do is change a couple aspects.

ThomasV

legendary

Activity: 1896

Merit: 1353

Quote from: becoin on August 22, 2011, 02:37:55 AM

Quote from: ThomasV on August 22, 2011, 02:26:34 AM

bitcoin is different from gold.

Really? How is it different?

gold is physical, and very old. See also here:

Quote from: ThomasV on August 17, 2011, 12:32:52 PM

Currencies can compete when they have different properties. Gold and silver do have different physical properties.
The fiat currencies created by central banks have different properties, mostly linked to the economy of the
country that issues them. Peer-to-peer currencies can have different properties too; for example, a Bitcoin
variant with a constant inflation rate would be significantly different from Bitcoin, and would be able to
compete, although I am not sure if it would easily find early adopters.

This is clearly not the case with ixcoin and i0coin; the only difference is in the initial distribution, and a few
cosmetic changes. Therefore, these currencies are merely Bitcoin clones. As such, they need to live in the
same niche as Bitcoin. That is the niche of "digital resource with finite supply that will still be valuable in the future".

It is impossible for two currencies to live in that same niche, because one of them will be perceived as more
likely than the other to hold its future value. People will use that currency for long-term storage of value, and
they will progressively drop the other one. Thus, Bitcoin clones are mutually exclusive. Bitcoin's historical
precedence give it legacy, and strong network effects play for it. It is too late to change that.

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: ThomasV on August 22, 2011, 02:26:34 AM

bitcoin is different from gold.

Really? How is it different?

julz

legendary

Activity: 1092

Merit: 1001

Quote from: ThomasV on August 22, 2011, 02:26:34 AM

Quote from: becoin on August 22, 2011, 02:24:32 AM

If bitcoin is imitating gold then what is it like trading gold for bitcoins?

ixcoin et al are not different from bitcoin

They are different though. They're missing a group of open source developers who really understand the protocol.
Show me evidence of one other chain aside from namecoin which has shown any real sign of a serious development team.
solidcoin has it's source available as a dropbox based zip file.
Any real project will have a proper source code repository (such as at github) and a team of contributors and code reviewers.

You might argue that these shit chains *could* gather such a following of developers - but until they do - their stewardship and future is suspect when compared to bitcoin.
They also need the network effects of a community of users and merchants. No small feat to catch up to bitcoin in that regard!

When attacks occur, or scalability issues need resolving - which project will you trust to have active developers who know how to solve the issues?

ThomasV

legendary

Activity: 1896

Merit: 1353

Quote from: becoin on August 22, 2011, 02:24:32 AM

If bitcoin is imitating gold then what is it like trading gold for bitcoins?

bitcoin is different from gold.
ixcoin et al are not different from bitcoin

http://images.memegenerator.net/instances/500x/9455218.jpg

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: caston on August 22, 2011, 01:51:21 AM

It is like trading gold for rocks. If enough idiots want to trade gold for rocks then its more profitable to mine rocks.

If bitcoin is imitating gold then what is it like trading gold for bitcoins?

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: ElectricMucus on August 22, 2011, 01:49:38 AM

Quote from: becoin on August 22, 2011, 01:40:29 AM

Quote from: fcmatt on August 21, 2011, 11:32:13 PM

What I do not understand is: Who are the idiots trading btc for these stupidcoins?

What I do not understand is: How can you tell a coin is stupid if it is virtually the same as the coin that is not stupid?

It's like imitating Jesus. Wink

Can I see the original, please?

ThomasV

legendary

Activity: 1896

Merit: 1353

Quote from: ElectricMucus on August 22, 2011, 01:49:38 AM

Quote from: becoin on August 22, 2011, 01:40:29 AM

Quote from: fcmatt on August 21, 2011, 11:32:13 PM

What I do not understand is: Who are the idiots trading btc for these stupidcoins?

What I do not understand is: How can you tell a coin is stupid if it is virtually the same as the coin that is not stupid?

It's like imitating Jesus. Wink

very true. I am not religious, but I think this is the best analogy so far.

Crs

member

Activity: 107

Merit: 10

Quote from: fcmatt on August 21, 2011, 11:32:13 PM

Quote from: navigator on August 21, 2011, 11:29:14 PM

I wasn't there during the first trades but someone must have only bought or sold a few at .49 BTC most likely to themselves. Do you even know what .49 would mean? It would mean I would have made over 100 BTC in the last 12 hours with only 2 cards. Even at .0014 and the current difficulty it's still about twice as profitable as bitcoin. IXcoin is at .001 and difficulty is 16384. That's nothing. IXcoin is worthless now. I'm sure solidcoin is not far behind and headed in that direction but as of now its definately more profitable than bitcoin.

What I do not understand is: Who are the idiots trading btc for these stupidcoins? What does that say about a small part of
the community who has btc in their possession? yikes.

Let me help you with that: most users don't give a fuck about bitcoin,ixcoin,i0coin, etc or about descentralized, anonymous claims. You know why ? Because it's all bullshit! None of the above currency is descentralized or anonymous, or you can consider them as anonymous as the internet is, which we know is not as anonymous as we would like. So, the point is that most of us are here just for the money. Oh, and if I were to earn money from it, I think I would trade any coin is out there.

Cheers!

caston

hero member

Activity: 756

Merit: 500

I learned some neat day trading tricks and dynamics with the solidcoin float though.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: joulesbeef on August 22, 2011, 02:02:51 AM

ixcoin is winning right now at 0.001
i0coin is dead at 0.0003
solidcoin at 0.0009

wow they all imploded
it was fun while it lasted

LOL they all took a nose dive really quickly lol.

joulesbeef

sr. member

Activity: 476

Merit: 250

moOo

ixcoin is winning right now at 0.001
i0coin is dead at 0.0003
solidcoin at 0.0009

wow they all imploded
it was fun while it lasted

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: caston on August 22, 2011, 01:51:21 AM

It is like trading gold for rocks. If enough idiots want to trade gold for rocks then its more profitable to mine rocks.

LOL...i like that analogy! Cheesy

caston

hero member

Activity: 756

Merit: 500

It is like trading gold for rocks. If enough idiots want to trade gold for rocks then its more profitable to mine rocks.

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

Quote from: becoin on August 22, 2011, 01:40:29 AM

Quote from: fcmatt on August 21, 2011, 11:32:13 PM

What I do not understand is: Who are the idiots trading btc for these stupidcoins?

What I do not understand is: How can you tell a coin is stupid if it is virtually the same as the coin that is not stupid?

It's like imitating Jesus. Wink

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: fcmatt on August 21, 2011, 11:32:13 PM

What I do not understand is: Who are the idiots trading btc for these stupidcoins?

What I do not understand is: How can you tell a coin is stupid if it is virtually the same as the coin that is not stupid?

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