Topic: Is There Any Hope Left? (Read 5227 times)

No.

Inflation is theft from the people holding the "whatever", unless you are giving the new "whatever" to every person already holding it, which would be pointless.

We need someone like fidelity or amazon to come in and setup a legit exchange, or a real facebook-type startup to create a secure exchange with a real us company behind it.  I am not holding my breath..

I'm going to make this short, because I'm more interested in reading your opinions rather than sharing mine. I'm sure most of you have invested in Bitcoins- and I consider even $50 an investment (though a small one). You could have invested when 10,000 Bitcoins were worth $25, or when a Bitcoin was worth about a buck. But do you regret not cashing in your investment earlier? Even I didn't expect the value of a Bitcoin to plummet this low, and despite getting rid of all my rigs and finally uninstalling both the RPC and Diablo miners from my main computer I still check MtGox each day in hopes that the economy will get much better. Then again, I'm a kid, so why should my opinion be taken seriously? The point that I'm trying to get at is, Bitcoins have been drastically falling in value ever since the CosbyCoin incident. At this point, do you intend to sell your investment and make what tiny profit (if any) you can get, or continue "believing" in Bitcoin?
As long as Silk Road is up, I'm sure Bitcoins will still be around regardless of their value. But I can just expect that one day I'll come back here and the whole community will be dead (metaphorically, of course).

One more thing, can someone explain to me how this ISN'T a ponzi scheme? I could have become a millionaire by selling Bitcoins right now if I had known about them from the start.

And finally, how do you think the BTC economy will influence other cryptocurrencies? Or as I call them, knock-offs.

Because instead of MINING bitcoins, you can just BUY bitcoins.

At the moment prices are less than the cost to mine them, or about the same.

Not to mention that buying bitcoins instead of inflating the currency more by mining them will help to drive the price up further.
It ain't June anymore son.

Yeah, I'm mental because I make profits.  

Dude, I'm making money of mining Bitcoins and selling them. Why should I stop? With these new rigs, I'll just make more money.

I like your point.

What we really need is to stop is Bitcoin Robberies. Everytime a Hacker get his hands on a large ammount of Bitcoin, the value plummet along with trust and credibility.

A currency not backed up by an army is a very big challange...

The deflationary model has a very important social aspect in that it creates interest for Bitcoin before it becomes actually useful as a medium of exchange.

I don't disbelieve you, I'm sure you are telling the truth about Hydro power being relatively inexpensive in Canada. But for all I knew, you could have been a kid clocking up their parent's electricity bill, who doesn't understand that profit is what is left from revenue-expenses. I still don't know that for a fact.

My point was that it is rather silly to invest long-term in mining rigs with fiat currency in order to mine bitcoin so it can be sold for fiat profits when bitcoin can only be exchanged for $2 a coin and decreasing... well, you can see my dilemma.

I don't disbelieve you, I'm sure you are telling the truth about Hydro power being relatively inexpensive in Canada. But for all I knew, you could have been a kid clocking up their parent's electricity bill, who doesn't understand that profit is what is left from revenue-expenses. I still don't know that for a fact.

My point was that it is rather silly to invest long-term in mining rigs with fiat currency in order to mine bitcoin so it can be sold for fiat profits when bitcoin can only be exchanged for $2 a coin and decreasing... well, you can see my dilemma.

I see the current situation as a good opportunity for people to get near early adopter prices for Bitcoin.

Troll, or a complete moron? Cast your votes.

The residential price of electricity in Quebec, Canada is around 60% of the average price of electricity in the US. And the more electricity I consume, the more the price goes down. At a certain point, it's possible to pay 2.97 cents/kwh.

You should inform yourself before insulting people. Google is free of charge you know. Try "Hydro Québec" in Google if you don't believe me.

The deflationary model has a very important social aspect in that it creates interest for Bitcoin before it becomes actually useful as a medium of exchange.

Troll, or a complete moron? Cast your votes.