Final Warning for Long-term holders... - page 4.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: TERA on April 23, 2014, 10:14:07 AM

Quote from: RodeoX on April 23, 2014, 10:02:13 AM

I don't hate you jr65, I just don't believe your magical. I have been reading about bitcoins imminent collapse for years now.
"Bitcoin will NEVER reach $1. It's impossible and here is a chart I made to prove it!"
"Bitcoin can't reach $10, it has no intrinsic value!"
I think your forgetting that value is an illusion created by humans. Gold is just a shinny rock and the money in your pocket is just fancy paper. They derive their value from a common belief in their value. As long as I have another person to trade with bitcoin will survive in my economy.

Gold has the first mover advantage of being a currency that has been accepted all over the world in every country and civilization for thousands of years. People trust gold because it has proven itself over the test of time to hold its value for thousands of years. Bitcoin has been around for, what... 5 years? Even after bitcoin is gone/broken, the internet is gone, or the world as we know it has been wiped out by nuclear holocaust and civilization is rebuilt, gold will still be here and will still have value.

I agree with you. Which is why I also own gold. And even though the internet will be gone one day, I invest in tech start-ups and bitcoin to profit while I can. I mean, even gold will be valueless when we humans are gone. Which we will be eventually.

Cassius

legendary

Activity: 1764

Merit: 1031

Quote from: dropt on April 23, 2014, 10:21:15 AM

Quote from: Jr65 on April 23, 2014, 08:05:38 AM

Why would I edit my post to help any of you? You clearly hate me and I have grown to hate you. I just deliver the facts. Take the emotion out of it. "Why did you break BTC? Because it was BREAKABLE!" Implied GG quote

No, you deliver hearsay and unsubtantiated garbage. I would expect a lawyer to recognize such things, alas you're just a liar, that much is clear.

Claims of delivering only the facts, and calling people that call you out 'haters'. Seems familiar, somehow.
Cosmo, really. Anyone as educated as you claim to be should go to a little more trouble in creating new accounts. Can I suggest that you run your text through Google translate into the language of your choice and back to English again to disguise your characteristic style?

dropt

legendary

Activity: 1512

Merit: 1000

Quote from: Jr65 on April 23, 2014, 08:05:38 AM

Why would I edit my post to help any of you? You clearly hate me and I have grown to hate you. I just deliver the facts. Take the emotion out of it. "Why did you break BTC? Because it was BREAKABLE!" Implied GG quote

No, you deliver hearsay and unsubtantiated garbage. I would expect a lawyer to recognize such things, alas you're just a liar, that much is clear.

TERA

hero member

Activity: 728

Merit: 500

Quote from: RodeoX on April 23, 2014, 10:02:13 AM

I don't hate you jr65, I just don't believe your magical. I have been reading about bitcoins imminent collapse for years now.
"Bitcoin will NEVER reach $1. It's impossible and here is a chart I made to prove it!"
"Bitcoin can't reach $10, it has no intrinsic value!"
I think your forgetting that value is an illusion created by humans. Gold is just a shinny rock and the money in your pocket is just fancy paper. They derive their value from a common belief in their value. As long as I have another person to trade with bitcoin will survive in my economy.

Gold has the first mover advantage of being a currency that has been accepted all over the world in every country and civilization for thousands of years. People trust gold because it has proven itself over the test of time to hold its value for thousands of years. Bitcoin has been around for, what... 5 years? Even after bitcoin is gone/broken, the internet is gone, or the world as we know it has been wiped out by nuclear holocaust and civilization is rebuilt, gold will still be here and will still have value.

spazzdla

legendary

Activity: 1722

Merit: 1000

The idea behind intrinsic value is a joke to make fun of the masses.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

I don't hate you jr65, I just don't believe your magical. I have been reading about bitcoins imminent collapse for years now.
"Bitcoin will NEVER reach $1. It's impossible and here is a chart I made to prove it!"
"Bitcoin can't reach $10, it has no intrinsic value!"
I think your forgetting that value is an illusion created by humans. Gold is just a shinny rock and the money in your pocket is just fancy paper. They derive their value from a common belief in their value. As long as I have another person to trade with bitcoin will survive in my economy.

cryptnutter

member

Activity: 70

Merit: 10

So tired of the "intrinsic value" argument (as if fiat currency has intrinsic value). What does have intrinsic value? Gold, silver I guess because of the time, effort and costs of producing them. What happens if major, easy to retrieve reserves are found someday? What happens if governments decide to tax the hell out of gold and silver so much so that nobody wants them anymore?

Value is whatever someone is willing to pay for something, plain and simple. If you have a house that some bureaucrat appraises at 10 million dollars, yet nobody wants to buy it from you, your house is effectively worthless. If someone wants to buy a Bitcoin from you for $500, it's value is $500, regardless of whether it is "intrinsic" or not.

frienemy

full member

Activity: 235

Merit: 100

I was promised da moon

Quote from: Jr65 on April 23, 2014, 08:05:38 AM

Why would I edit my post to help any of you? You clearly hate me and I have grown to hate you. I just deliver the facts. Take the emotion out of it. "Why did you break BTC? Because it was BREAKABLE!" Implied GG quote

Well, now we have the old testament-like god at last! Our saviour turned against us, because we have been so ill-hearted. Let the floods pour in while I'm still searching for my sun blocker.

You are 90% emotion with 10% facts. The rest of your "facts" is illogical.

Jr65

newbie

Activity: 28

Merit: 0

Why would I edit my post to help any of you? You clearly hate me and I have grown to hate you. I just deliver the facts. Take the emotion out of it. "Why did you break BTC? Because it was BREAKABLE!" Implied GG quote

boumalo

legendary

Activity: 1918

Merit: 1018

Quote from: smoothie on April 22, 2014, 10:41:35 PM

Quote from: gagalady on April 20, 2014, 10:45:17 AM

Please make paragraphs because it's really annoying and eye-hurt to read integral text Sad

I didnt even bother reading it. If they can't make their point in a clear thought out way (including format) then it isnt worth reading.

You would think he will have edit his post by now

Everyone has been concentrated on the legal definition of Bitcoin, mtgox and the volatility for months now; maybe it is time to go back to being concentrated on the positive : new technology, great medium of exchange ect.

Jr65

newbie

Activity: 28

Merit: 0

10k in 2-3 years? No, $1,000,000,000,000,000,000,000,000 per unit, baby! To da moon!! All based on fairytales and rainbow wishes.

BTC won't exist in 3 years. There will be a tweaked, BTC-like technology, trading under a different symbol/initials. Gox coin buyers are going to change BTC's name and break it up like a Gordon Gekko project. (They will have the 200k Gox coins + rights of first refusal for the added Court coins that WILL be found + private coin purchases from off exchange sources like Overstock and Virgin Atlantic and finally all of your panic sales.) The new BTC-like vehicle may be at 10k in 2-3 years but you won't be involved. Sorry, the poor lose and the wealthy win...again! Scoreboard! JUST WATCH!

Cassius

legendary

Activity: 1764

Merit: 1031

Can't be bothered to do the full legwork on this but:
http://www.airliners.net/aviation-forums/general_aviation/read.main/4827167/?threadid=4827167&searchid=4828152&s=cosmofly
Dig around for some more and perhaps you'll find a Citation VII too.
"Peasants" has already been noted.
Claims to inside information with no substantiation.
Imply you live in the US but a London local time.
Hello cosmo.
Pathetic.

Ayers

legendary

Activity: 2590

Merit: 1022

Leading Crypto Sports Betting & Casino Platform

lol format this shit, you must pay me to read that thing, and you are wrong anyway....btc will rise to 10K in 2-3 years max

YipYip

hero member

Activity: 574

Merit: 500

Quote from: JimboToronto on April 20, 2014, 11:24:15 AM

Quote from: Jr65 on April 20, 2014, 10:36:03 AM

blah blah blah

TL;DR -

Inexperienced OP doesn't fully understand Bitcoin and places too much emphasis on Gox.

Agreed ...GOX was a bullish signal Cheesy

fr33d0miz3r

hero member

Activity: 518

Merit: 500

Quote from: 500crypto on April 23, 2014, 12:57:27 AM

One liquidation event is not justification for price change, especially if that event does not affect more than 10% of available BTCs. The question I have is, if the bankruptcy court is offering the BTCs for sale, would there be a possibility of a bidding war to take place? If so, that will determine the price

10% is huge.

10%

10%

Do you understand that the BTC market is too illiquid to handle the current price?

500crypto

newbie

Activity: 36

Merit: 0

One liquidation event is not justification for price change, especially if that event does not affect more than 10% of available BTCs. The question I have is, if the bankruptcy court is offering the BTCs for sale, would there be a possibility of a bidding war to take place? If so, that will determine the price

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: smoothie on April 22, 2014, 10:41:35 PM

Quote from: gagalady on April 20, 2014, 10:45:17 AM

Please make paragraphs because it's really annoying and eye-hurt to read integral text Sad

I didnt even bother reading it. If they can't make their point in a clear thought out way (including format) then it isnt worth reading.

Pretty much agree with you on this one but there is always the occasional gem that lacks easably legible format.

So what does one do?

My $.02.

Wink

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: gagalady on April 20, 2014, 10:45:17 AM

Please make paragraphs because it's really annoying and eye-hurt to read integral text Sad

I didnt even bother reading it. If they can't make their point in a clear thought out way (including format) then it isnt worth reading.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

@OP "Final Warning" is the type of wording you choose when you are intentionally trying to scare people.
Why are you attempting to spread more irrational fear?

Quote from: Wilhelm on April 20, 2014, 01:54:38 PM

Your comments on bankruptcy are good to follow and I believe you know more about the process than I do.

However some comments are hard to understand like "The buyers' cost of acquiring the coins will be high because they will need lawyers, accountants, transportation costs for their team etc.) This scenario will totally reset the price of BTC and there will be a totally new set of BTC pioneers and winners. All the current exchanges will be out of business and BTC will return for sale to the public at large, reputable stock exchanges. Hopefully, by this time, BTC will have a robust infrastructure and the price will stabilize and climb at a sensible rate."

Why would this reset the price of BTC?
What I would deduct is that the cheap coinz aren't really cheap due to all the overhead acquiring them. In effect there are loads of people feeding off of the process.
The buyer will have no incentive to sell the cheap coinz cheaply because they might not be as cheap if you add the overhead. This would not make the BTC price drop as hard since the buyer might need $100 to $150 per unit to break even.

Why would all the current exchanges will be out of business?
Yes if BTC goes to $1 a piece stock exchanges might not be viable anymore but IMO reading your post the BTC dump will never make BTC go below $50 to $100.

Thank you for detailing the reasons why this "Final Warning" doesn't make a clear case to believe BTC will go any lower.

maok

sr. member

Activity: 392

Merit: 250

Even if the OP prediction is right, it sounds like we can't do anything about it as things are already in motion so why oh why would the lawyer inform the `peasants` ? I knew that the lawyers are the most miserable human beings and like every rule there are exceptions but don't think this case is one of them.

Now to educate the lawyer who thinks that

Quote from: Jr65 on April 22, 2014, 02:53:07 PM

BTC has no intrinsic value

please read a well structured text unlike yours: https://en.bitcoin.it/wiki/Myths#Bitcoins_have_no_intrinsic_value_.28

Quote from: Jr65 on April 22, 2014, 02:53:07 PM

you're only on my radar because you're collateral damage in the way of me learning more about BTC.

You learn by reading more and trying to understand, not by arguing about something that can't be proved, especially in a domain you don't understand. BTC has been already been affected by mtgox and the current price drop is closely related to that among other reasons, so if you have inside info just sell all your bitcoins and wait for the price to drop lower simple as that, don't warn the peasants as we're too daft anyway.

Topic: Final Warning for Long-term holders... - page 4. (Read 12151 times)