I won't join the ASIC race so that really only leaves me with one way to increase my stash.
JD?
Topic: I am pretty confident we are the new wealthy elite, gentlemen. - page 212. (Read 631965 times)
October 19, 2013, 03:13:33 AM
JD?
October 19, 2013, 03:08:30 AM
I bought back in with everything I had at 89-91 feeling like there would be a run up and have doubled my btc holdings over the past two weeks. This has been a very good month. 
Brass? No... Balls of Steel. I wish I could do exactly that. I knew immediately that the Silk Road news would cause a huge (temporary) drop, but I still don't trust a single entity with any of my coins.
Congrats man. You've invested plenty of time into this community. You deserve it.
Thanks! I've lost so much playing with every new service and snake oil salesman that comes along that I feel like I deserve a break too. I was like you for a while. I felt like I could never trust anyone to hold my coins for even a minute but you can't make any positive gains doing that. I was caught by the BTCe hack and got back all my coin. That kind of reset my trust a little. I quit mining after I stopped being able to make at least 10 coins a day with my bank of 5990s. I won't join the ASIC race so that really only leaves me with one way to increase my stash.
October 19, 2013, 02:23:37 AM
Wow blast from the past. Classic thread 
It almost makes you miss the OP (Atlas) doesn't it? I wonder if he's managed to successfully commit suicide in Texas yet? I know his last attempt failed.
No, I do not miss Atlas. He was too emotional while pretending (attempting?) to ignore emotion.
I miss his horse headed buddy even less.
I hope both of them are alive and well though.
I'd imagine neither of them managed to hold on to enough bitcoins to become the "new wealthy elite". I would be shocked (but pleased) to be presented with evidence proving otherwise.
CBH, how did your silk road event daytrading work out? If you made out, I salute your giant brass balls.
lol - I'm sure both of them are still hanging around here somewhere. I don't really miss Atlas and his phony nihilist drama bullshit but Matt was a fun troll to watch. I actually do miss him.
I bought back in with everything I had at 89-91 feeling like there would be a run up and have doubled my btc holdings over the past two weeks. This has been a very good month.
October 19, 2013, 01:50:46 AM
Mathew is here.
October 19, 2013, 01:47:29 AM
It still amazes me how many people make fun of me for being involved in crypto. Some of these people are programmers, too! What that tells me is that bitcoin is an incredibly good idea, and their humor at the situation validates it for me. If nobody thought it was crazy, how could it be life-changing (e.g. the new class of wealthy elite)?
It's a shame really. I know some really smart and respectable people who brushed bitcoin off as a flash in the pan. And even if they're right, I'm disappointed that so many of them are so short sighted, given how brilliant some of their thoughts and ideas are.
It's even harder do watch as everyone I care for has their savings and earnings devalued from right in front of them, and there's nothing I can do. They don't get it, they don't want to hear it, and I feel like I'm the one taking crazy pills.
I hope I'm wrong. It would make life so much better for everyone.
October 19, 2013, 01:39:01 AM
Wow blast from the past. Classic thread
It almost makes you miss the OP (Atlas) doesn't it? I wonder if he's managed to successfully commit suicide in Texas yet? I know his last attempt failed.
At least he has a cameo in the first (?) Bitcoin song: "Bitcoin rap"
But yeah, you're right.
October 19, 2013, 01:37:43 AM
Wow blast from the past. Classic thread
It almost makes you miss the OP (Atlas) doesn't it? I wonder if he's managed to successfully commit suicide in Texas yet? I know his last attempt failed.
October 18, 2013, 08:10:11 PM
Hopefully there will not be too many armies and burning nations! I don't really enjoy that sort of thing.
Yeah, that's usually not good for anyone but the arms dealers & funeral homes. But then, the history of fiat currencies says they have an average life expectancy of about 100 years and that there is a 100% mortality rate by 200 years. The US federal reserve note is approaching 100 years old, so it's going to happen somehow.
If you look at the history we are very close to the U.S. dollar losing 99% of its value. A shave and a haircut 2 bits. That is 25 cents. 25c = $25. At least we are not the Russian Ruble that has lost 10 to the -14 of its value.
October 18, 2013, 06:36:29 PM
Wow blast from the past. Classic thread
October 18, 2013, 06:33:19 PM
Hopefully there will not be too many armies and burning nations! I don't really enjoy that sort of thing.
Yeah, that's usually not good for anyone but the arms dealers & funeral homes. But then, the history of fiat currencies says they have an average life expectancy of about 100 years and that there is a 100% mortality rate by 200 years. The US federal reserve note is approaching 100 years old, so it's going to happen somehow.
October 18, 2013, 06:28:14 PM
Before investors will jump onto Bitcoin, we can't have these giant spikes like we are having right now, there has to be a steady increase.
Giant spikes compared to what? It's been fairly stable for the past several months. Based soley on bitcoin's short history, a several months long smooth trading trend portends a sudden and dramatic price movement is due. So far, the price movements up have generally stuck, while the price movements down have generally been temporary. That is, after all, the only way a price goes from half a penny in 2010 to $140 in 2013.
October 18, 2013, 06:24:48 PM
One thing is for sure, though. This community has definitely put a dent in the world.
We've made some people who make a living of the status quo nervous is all. As you have said, once it's inevitable that bitcoin is the new gold, the 1% will be buying it up from us like madmen, inviting us to join their ranks as they kick out the guy who was late to the party. It's not the investors or venture capitalists that bitcoin puts a 'dent' into. It's the central banks and those who profit from them that will be upset. Unfortunately, we aren't talking about a class of people that take their sudden obsolescence in stride. Their not just going to put down their buggy whip tools and look for a new job without pitching a fit. And when these people have a hissy fit, armies march and nations burn.
Sounds like good times. Hopefully there will not be too many armies and burning nations! I don't really enjoy that sort of thing.
October 18, 2013, 06:24:19 PM
Before investors will jump onto Bitcoin, we can't have these giant spikes like we are having right now, there has to be a steady increase.
October 18, 2013, 06:19:00 PM
One thing is for sure, though. This community has definitely put a dent in the world.
We've made some people who make a living of the status quo nervous is all. As you have said, once it's inevitable that bitcoin is the new gold, the 1% will be buying it up from us like madmen, inviting us to join their ranks as they kick out the guy who was late to the party. It's not the investors or venture capitalists that bitcoin puts a 'dent' into. It's the central banks and those who profit from them that will be upset. Unfortunately, we aren't talking about a class of people that take their sudden obsolescence in stride. Their not just going to put down their buggy whip tools and look for a new job without pitching a fit. And when these people have a hissy fit, armies march and nations burn.
October 18, 2013, 06:13:35 PM
A dent in the world? Lol?
The entire bitcoin market cap. is almost pocket change for some of our wealthy elite, lets not even begin to talk on a global scale...
We are a long long way from even making a dent in the status quo...
Building up a lot of momentum before ever truly getting on to the radar is a good thing. The entire bitcoin market cap. is almost pocket change for some of our wealthy elite, lets not even begin to talk on a global scale...
We are a long long way from even making a dent in the status quo...
October 18, 2013, 06:09:57 PM
I don't know about you guys, but the members of the wealthy elite that I know are extremely smart, socially well-connected and they aren't mired in any particular mode of thinking in terms of investments. They pay people to look for economic trends that will make them even more wealthy.
It's a nice sentiment that "the underdog" may be displacing "old wealth", but from where I'm standing, they'll be coming to join the party soon enough. Institutional investors will be happy to jump on the bitcoin bandwagon as soon as they view the risks to be acceptable. These people stay wealthy because their financial advisers (who are watching bitcoin like hawks) are paid to keep it that way.
One thing is for sure, though. This community has definitely put a dent in the world.
It's a nice sentiment that "the underdog" may be displacing "old wealth", but from where I'm standing, they'll be coming to join the party soon enough. Institutional investors will be happy to jump on the bitcoin bandwagon as soon as they view the risks to be acceptable. These people stay wealthy because their financial advisers (who are watching bitcoin like hawks) are paid to keep it that way.
One thing is for sure, though. This community has definitely put a dent in the world.
A dent in the world? Lol?
The entire bitcoin market cap. is almost pocket change for some of our wealthy elite, lets not even begin to talk on a global scale...
We are a long long way from even making a dent in the status quo...
A scratch on the world then at least?
Hey, at least Bitcoin users are making the banking community a bit nervous. I do think that for the most part Bitcoin is not being taken that seriously yet. It will happen at some point.
October 18, 2013, 06:07:20 PM
I don't know about you guys, but the members of the wealthy elite that I know are extremely smart, socially well-connected and they aren't mired in any particular mode of thinking in terms of investments. They pay people to look for economic trends that will make them even more wealthy.
It's a nice sentiment that "the underdog" may be displacing "old wealth", but from where I'm standing, they'll be coming to join the party soon enough. Institutional investors will be happy to jump on the bitcoin bandwagon as soon as they view the risks to be acceptable. These people stay wealthy because their financial advisers (who are watching bitcoin like hawks) are paid to keep it that way.
One thing is for sure, though. This community has definitely put a dent in the world.
It's a nice sentiment that "the underdog" may be displacing "old wealth", but from where I'm standing, they'll be coming to join the party soon enough. Institutional investors will be happy to jump on the bitcoin bandwagon as soon as they view the risks to be acceptable. These people stay wealthy because their financial advisers (who are watching bitcoin like hawks) are paid to keep it that way.
One thing is for sure, though. This community has definitely put a dent in the world.
A dent in the world? Lol?
The entire bitcoin market cap. is almost pocket change for some of our wealthy elite, lets not even begin to talk on a global scale...
We are a long long way from even making a dent in the status quo...
October 18, 2013, 04:36:41 PM
I don't know about you guys, but the members of the wealthy elite that I know are extremely smart, socially well-connected and they aren't mired in any particular mode of thinking in terms of investments. They pay people to look for economic trends that will make them even more wealthy.
It's a nice sentiment that "the underdog" may be displacing "old wealth", but from where I'm standing, they'll be coming to join the party soon enough. Institutional investors will be happy to jump on the bitcoin bandwagon as soon as they view the risks to be acceptable. These people stay wealthy because their financial advisers (who are watching bitcoin like hawks) are paid to keep it that way.
One thing is for sure, though. This community has definitely put a dent in the world.
It's a nice sentiment that "the underdog" may be displacing "old wealth", but from where I'm standing, they'll be coming to join the party soon enough. Institutional investors will be happy to jump on the bitcoin bandwagon as soon as they view the risks to be acceptable. These people stay wealthy because their financial advisers (who are watching bitcoin like hawks) are paid to keep it that way.
One thing is for sure, though. This community has definitely put a dent in the world.
October 18, 2013, 02:41:31 PM
Remember: this is not a done deal.
The best laid schemes of mice and men
Often go awry.
- John Steinbeck 1937
The best laid schemes of mice and men
Often go awry.
- John Steinbeck 1937
Actually it's "gang aft agley" for "often go awry" in the original, and it's Robert Burns from whom Steinbeck took the quote
October 18, 2013, 01:15:10 AM
Bitcoins rock, I am working on no internet (Only cellphone smsing) Bitcoin client , gonna be even more awesome if Bitcoin is available even without internet!
, gonna be even more awesome if Bitcoin is available even without internet! that will be a real asset for places like africa where (i assume) data is less readily available then something like texting.
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