Topic: In for the money? Get lost and good riddance! - page 2. (Read 5349 times)

Yeah, all that pesky money coming into bitcoin, allowing new services to be produced and attracting retailers. Assholes! Not like you guys, who mined millions of bitcoins before anyone else knew about it and leached million of dollars out of the economy. You're the good guys!

Hypocrites.

This is what I posted a few weeks ago on educating people about bitcoin.

"Also, try to dissuade people from promoting Bitcoins from an investment angle, i.e. its potential returns. Viewing Bitcoins in terms of fiat is completely missing the point, and hence totally irrelevant.  BTC is a tool or an "enabler" for the people against the government and the banks. If serfs and slaves escape a life of indenture by fleeing into the sewers, you should lead them out of the sewer and into a better life, not by leading them back to the old world of enslavement!  Bitcoins is the ticket into the sewers and hopefully out of it into a better world.  By thinking BTC in terms of fiat, and how much fiat one can made, one is at risk to becoming like Cypher from the movie Matrix, i.e. wishing that he had never learned the truth and leave the Matrix (fiat world) in the first place. They will be the first to betray Bitcoins if given enough incentive by the fiat world ruler."

That being said, having a deflationary currency by design and periodic mass exposure by the media, first in 2011 and now in 2013, is going to cause huge volatility in BTC exchange rate as people rush in and out, hoard and dump, from time to time.

I am in bitcoin for the money and for the absolute genius of the bitcoin design. The new comers will panic because they don't understand what they have bought they only see a quick earn then an even quicker loss. lol. any investment you make you should be at least willing to ride out 12 months or so and all these new people now need to do exactly that or panic and sell for a loss. There is no reason for this panic, bitcoin has not changed at all, it's useability is no less, so selling your bitcoins for under what you payed is your own stupidity. I personally saw hundreds of thousands of AUD vale drop from my bitcoins. am I stressed? NO! bitcoin will be back and go further than it's highest point. It has always done this in the past and there is no real or new reason as to why it wont again.
       

This just shows is that we cannot rely on one exchange for the price.  Decentralization depending on centralization?  What we really need is a decentralized exchange and things would get really interesting.  For a while told everyone I know about Bitcoin and they had all the excuses in the world on why they will not buy into it.  I am talking about back when it was <$10.  You cannot imagine the calls I got from them wanting to buy in this week when the price skyrocketed.  There are a lot of people that bought in that do not even understand this market and will (and did) get burned and lose it all. 

This is all healthy for Bitcoin and will only make it stronger.  So OP I completely agree. 

Bitcoin prices fluctuating wildly is not good for Bitcoin. Hopefully this will put off the speculators who have been making that happen.

Agree with the OP.

I generally agree with your point of view Joe but there is a real risk that there will be real long term consequences to adoption of bitcoin because of these early incidents (for lack of a better term).  I don't just mean the people who were stupid enough to put in money and lost it but people the two types of people who didn't and might think twice now because of this. The first being the ones who just saw the idiot hit pieces on Huffington Post, CNBC.com, et. al. The latter being ones who maybe didn't but will through searching before they buy or from secondhand searches who lost money or read/saw these things will decide not to invest.

These are not issues that are going to go away either, MTGox being for all intents and purposes burn at this point as an exchange, at least for serious people, is a good example of this. The fear and uncertainty that this bubble bursting has stirred up, especially after the previous hacks on wallets and the ones that are sure to happen sporadically in the future, are something that will be tough to overcome. That is especially true since bitcoin has no spokesperson or central authority to run PR, now and in the future, aimed at people like you and the people who just want to experiment with a non-fiat currency and/or hedge their bets against the USD/GBP/EUR/etc... .

This was two steps taken forward at one time and that can only lead to hitting the floor.

What I have tried to say is that taking one step after another is a better strategy.

And that I appreciate the hit on the floor happening rather now than at a moment at which Bitcoin would fall from a height that it could not survive.

Joe

How about this: instead of get lost new bitcoin users (aka dump your coins), lets educate about the values of cryptocurrency? 

Imagine, people who are into a new form of money because it implies a new, fairer, better and more capable financial and economical system for the greater good are not in there for the fast buck.

You have failed to undestand that difference so of course you have failed to understand my point and only therefor you actually think you summed it up with your answer.

Fail on!

Joe

How can anyone with intelligence believe this is a positive? 

1 step forward and 2 steps back is never a good thing. 

So you are trying to spin a for profit attack on the bitcoin system as good for bitcoin? And that that is better than speculators buying into bitcoin and trading them for dollars. That is like saying that blowing up mountains is better than letting tourist ski down them. Fool!

^^ This.   

THIS.

Imagine, people into a new form of money are in it for the money!

Quelle horreur!

Unfortunately, bitcoin speculators will always be there. I just look at each bubble as an opportunity for those that got in early and really understand bitcoin to benefit twice over.

if ya fo the fiat, yo stupid and worth squat

Lol.

Speaking as the Mike mentioned, I fully endorse the core of this sentiment, although I might not say "good riddance" with quite air that Comrade Joe does 

lol!

Unfortunately I know that in 3 days, by the time I get cash into MtGox, the price will be back to normal.

Too many people coming into the market for the price to continue down.