words
Nice post. +1
Topic: Everyone failed. (Read 3980 times)
Yeah. Your choice of analogy doesn't really help your case.
I'm sure there are a few people out there that play Super Mario Bros 1 on the 8-Bit Nintendo, but not many people.
And a ton of people that have Super Mario Bros 1 in their basement some where.
How much can you see it for? Probably couldn't give it away.
That is the future of BTC.
Day traders make their profit and get out, before the collapse and gets banned from exchanging at real banks.
GG
And a ton of people that have Super Mario Bros 1 in their basement some where.
How much can you see it for? Probably couldn't give it away.
That is the future of BTC.
Day traders make their profit and get out, before the collapse and gets banned from exchanging at real banks.
GG
Even a 10-20 year old video game still has a few people that play it once in a while, even though majority of people could care less.
http://incompetech.com/gallimaufry/care_less.html
I don't usually do this but since this guy registered week ago and already has whopping 250+ posts I have to:
Anyway you mate made it to my ignore list. Thanks for being this obvious
Anyway you mate made it to my ignore list. Thanks for being this obvious
Failure is a state of mind!
If you want to buy some BTC and suddenly find that those coins will get you more of the coins you just used to get you the BTC, that is just trading with yourself, and is a pointless game!
If you buy some BTC, and then sell them to others after adding 10% to the price you paid for them, that is trading!
If you sell stuff and get BTC, that is really using bitcoins for what they were designed for - a currency.
If you are able to write some code that helps someone in one part of the world trade with someone else for less, by using Bitcoins, you are moving the world forward, and we are all winners.
If you just post crap on a forum, well, you work that one out!
If you want to buy some BTC and suddenly find that those coins will get you more of the coins you just used to get you the BTC, that is just trading with yourself, and is a pointless game!
If you buy some BTC, and then sell them to others after adding 10% to the price you paid for them, that is trading!
If you sell stuff and get BTC, that is really using bitcoins for what they were designed for - a currency.
If you are able to write some code that helps someone in one part of the world trade with someone else for less, by using Bitcoins, you are moving the world forward, and we are all winners.
If you just post crap on a forum, well, you work that one out!
Will we get another chance like this again? A type of media attention that draws in thousands of new people to dump money into the market? Probably not.
Although this is not the first time BTC bubble popped, it is the first time how ever of mass media attention that encouraged a lot of people to invest into it.
Game Over.
Let me tell you why I don't give a fig about "drawing in thousands of new people to dump money into the market".Although this is not the first time BTC bubble popped, it is the first time how ever of mass media attention that encouraged a lot of people to invest into it.
Game Over.
To me, the goal is this: Bitcoin becomes functional as a currency. I don't care about it replacing greenbacks or transforming me into a millionaire via Austrian alchemy, just that it become a currency that works.
The path that I see to reach that goal goes something like this:
1) People barter with BTC in an over-the-counter way.
2) Big services and companies accept BTC and cash out into fiat immediately.
3) Some people who accept BTC and can pay their expenses in BTC stop cashing out into fiat, and just pay with the BTC instead.
4) BTC->BTC becomes more common, until it becomes possible and natural to pay all your regular expenses with the currency, and exchanges become nice-to-haves rather than necessary for normal use.
Now. The price per bitcoin is falling. The centralized exchanges have proven themselves unworthy and insufficient. And yet, (2) has not been slowed. The OKCupid announcement came after the crash was well underway. OKCupid doesn't care about whether BTC is going up or down! They just care that it'll make it easier for people to give them money!
There's no sign that the current price action will do anything to change (2), because the infrastructure is in place to allow businesses to accept bitcoins without having to worry about the price, and they seem to still be arriving.
If there comes a day when I can get my salary in BTC, and pay my utility bill in BTC, I will not care how many people are "buying in", because the important part is that thenceforth, anyone who chooses to can divorce themselves from the banking system, save the fees they would have otherwise paid, and transact online without a middleman.
At that point, Bitcoin will have accomplished its purpose. Everything else will be gravy.
People are into BTC cause they believe in this new idea, or they are hoping to get rich (like having faith in a certain stock to increase in value).
For those people trying to get rich, yeah lots of money they lost.
And for this new idea? Its dying now. It won't completely go away though. Even a 10-20 year old video game still has a few people that play it once in a while, even though majority of people could care less.
For those people trying to get rich, yeah lots of money they lost.
And for this new idea? Its dying now. It won't completely go away though. Even a 10-20 year old video game still has a few people that play it once in a while, even though majority of people could care less.
Translation: I put some effort in and it didn't work. Time to give up.
Kids today, how the hell do they get anything done with that instant gratification mentality and a total lack of staying power? What did Buffett do when his company lost half it's net worth in 2009? Just kept going, that's what.
Churchill once said something like 'if you are going though hell, keep going.'
Also, on the video-game analogy:
One of the most popular pages on any of my websites is a Pacman game.
People play it a lot, like it and it earns me money in ad revenue.
Again: analogy fail.
One of the most popular pages on any of my websites is a Pacman game.
People play it a lot, like it and it earns me money in ad revenue.
Again: analogy fail.
People are into BTC cause they believe in this new idea, or they are hoping to get rich (like having faith in a certain stock to increase in value).
For those people trying to get rich, yeah lots of money they lost.
And for this new idea? Its dying now. It won't completely go away though. Even a 10-20 year old video game still has a few people that play it once in a while, even though majority of people could care less.
For those people trying to get rich, yeah lots of money they lost.
And for this new idea? Its dying now. It won't completely go away though. Even a 10-20 year old video game still has a few people that play it once in a while, even though majority of people could care less.
Guilty of wanting to see BTC work.
Guilty of wanting to get rich.
So far, both on track.
Thanks for the post.
I said "unless they traded down" - those got what they deserved for panic selling 
So you don't consider that some are not buying Bitcoin for speculation, some actually use it. I guess BitPay was forced to trade down quit some in the last few days. So do they deserve that?
Precisely when you don't buy for speculation, you don't lose. You bought BTCX, you have BTCX. If you panic sell because of a dip, then you lose on what you actually put in.
Businesses relying on the exchange rates must provision accordingly.
I said "unless they traded down" - those got what they deserved for panic selling
So you don't consider that some are not buying Bitcoin for speculation, some actually use it. I guess BitPay was forced to trade down quit some in the last few days. So do they deserve that?
It doesn't matter how people use Bitcoin, all that matters is they use it. There is no "right way" to use Bitcoin and I'm so sick and tired of hearing people spread this nonsense.
Speculators are learning valuable lessons, like how hard it is to move fiat around, and how easy it is to move Bitcoin around. Many will come for the "get rich quick", and a good percentage will stay for the "utility".
The volatility is growing pains and if you think you know a way to stop it without introducing the type of regulation bitcoin avoids, well... LOL.
Speculators are learning valuable lessons, like how hard it is to move fiat around, and how easy it is to move Bitcoin around. Many will come for the "get rich quick", and a good percentage will stay for the "utility".
The volatility is growing pains and if you think you know a way to stop it without introducing the type of regulation bitcoin avoids, well... LOL.
you got it! everyone that does buy & sell btc via any exchange experiences the incredible gap of usefullness, speed, and userfriendlyness between the dinosaur-like oldfashioned fiatcurrency systems and the bitcoin system. it is like having this shiny new powerfull and fast race car that you need to fuel with gas that is carried with an old donkey cart. the bottleneck is the fiat system. as soon as it has passed it, the value that is stored in bitcoins accelerates into the internet age.
Nobody lost money, unless they traded down.
They got BTC.
They got BTC.
Yeah, that is why Mt Gox and many other BTC-Fiat Stock Market banksterers still aren't paying out client fund withdrawals after up to ten or more says (so far) - because they didn't nearly lose their shirts last wednesday-thursday.
Topic: Mt Gox Withdrawal
https://bitcointalksearch.org/topic/m.1847128
I said "unless they traded down" - those got what they deserved for panic selling
The volatility is growing pains and if you think you know a way to stop it without introducing the type of regulation bitcoin avoids, well... LOL.
Sure there is a way. If a few percent would decide to add liquidity to the market instead of taking it when buying or selling, volatility would go down considerably.
Why should they do that? Because it saves money. Take my trading strategy: I place orders way outside the current price. When the price does a violent movement, the order is filled and I just need to wait for the inevitable rebound to get back to the start plus my profits.
As this is a zero sum game, someone must pay for my profits. Those who pay are those who take liquidity.
Why am I saying this when it is so easy to rip off the fools? Because I don't want to make money trading Bitcoins, I want to make money *using* Bitcoins.
-Anu
LULZ what are you talking about?
Your "strategy" is FEEDING volatility.
You should be paying far higher fees for taking such risk-inducing positions that risk accelerating the extenuation of steep price deviations.
You haven't got a clue. LULZ on.
-Anu
ROTFL. YOU failed. Rest of us are doing fine. Get a brain.
The volatility is growing pains and if you think you know a way to stop it without introducing the type of regulation bitcoin avoids, well... LOL.
Sure there is a way. If a few percent would decide to add liquidity to the market instead of taking it when buying or selling, volatility would go down considerably.
Why should they do that? Because it saves money. Take my trading strategy: I place orders way outside the current price. When the price does a violent movement, the order is filled and I just need to wait for the inevitable rebound to get back to the start plus my profits.
As this is a zero sum game, someone must pay for my profits. Those who pay are those who take liquidity.
Why am I saying this when it is so easy to rip off the fools? Because I don't want to make money trading Bitcoins, I want to make money *using* Bitcoins.
-Anu
LULZ what are you talking about?
Your "strategy" is FEEDING volatility.
You should be paying far higher fees for taking such risk-inducing positions that risk accelerating the extenuation of steep price deviations.
Nobody lost money, unless they traded down.
They got BTC.
They got BTC.
Yeah, that is why Mt Gox and many other BTC-Fiat Stock Market banksterers still aren't paying out client fund withdrawals after up to ten or more says (so far) - because they didn't nearly lose their shirts last wednesday-thursday.
Topic: Mt Gox Withdrawal
https://bitcointalksearch.org/topic/m.1847128
The volatility is growing pains and if you think you know a way to stop it without introducing the type of regulation bitcoin avoids, well... LOL.
Sure there is a way. If a few percent would decide to add liquidity to the market instead of taking it when buying or selling, volatility would go down considerably.
Why should they do that? Because it saves money. Take my trading strategy: I place orders way outside the current price. When the price does a violent movement, the order is filled and I just need to wait for the inevitable rebound to get back to the start plus my profits.
As this is a zero sum game, someone must pay for my profits. Those who pay are those who take liquidity.
Why am I saying this when it is so easy to rip off the fools? Because I don't want to make money trading Bitcoins, I want to make money *using* Bitcoins.
-Anu
When the mass majority tried to jump on the BTC bandwagon, driving prices up to $266, do you think they invested so much money cause they wanted to build better services and infrastructure? Or cause they thought they could make some easy money? Be honest.
The "mass majority" who gave somebody else their money for BTC-securitized derivative-future contract tokens which that other person walked away with, did not "drive the prices up to $266".
The way the colossally stupidly designed "BTC Fiat-Stock Markets" seriously and near-catastrophically malfunction did.
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