Are you sure that I am you are being a bit negative?
Would you prefer if I were not sure that youre im being a bit negative?
+1
Topic: Lets pretend for a minute that major BTC companies are scams. (Read 2484 times)
Would you prefer if I were not sure that youre im being a bit negative?
+1
Oh boy, it seems creating this thread got me into the orange ignorelist territory again - I was yellow for a while, almost got me worried.... Mission accomplished I'd say 
How many people have to ignore you to be yellow?
How many to be orange?
Is there a red?
I think I saw someone red too, but I'm not sure.
From what I have been told the ignore indicator isn't a fixed threshold but depends on the posts count and/or registering date of the members ignoring you. The exact mechanism isn't public in the hope that it can't be exploited.
Oh boy, it seems creating this thread got me into the orange ignorelist territory again - I was yellow for a while, almost got me worried.... Mission accomplished I'd say
How many people have to ignore you to be yellow?
How many to be orange?
Is there a red?
Oh boy, it seems creating this thread got me into the orange ignorelist territory again - I was yellow for a while, almost got me worried.... Mission accomplished I'd say
Thanks for this insightful post. It's spot on for the premise of this thread.
Bitcoiners are often so much blinded by greed that we forget the essential scepticism when doing business:
A company is offering cutting-edge tech with a preorder requirement? Demand proof of activity and capability!
Somebody is offering securities or asking for a loan? Demand a rigorous and fully open business model!
Buying bitcoins on a unaudited exchange? Withdraw them instantly to make sure they are really there!
The fact that EVERYONE isn't operating on this assumption already is of utmost concern to me. People are so blinded by their greed that they have forgotten all of the evil entities that prey on any new technology. People are so quick to hand their money over to some mostly anonymous person they met on the internet. And we're not just talking about bitcoins either. Bitcoin related scams are sucking up real cash just as much as they are sucking up bitcoins.
Thanks for this insightful post. It's spot on for the premise of this thread.
Bitcoiners are often so much blinded by greed that we forget the essential scepticism when doing business:
A company is offering cutting-edge tech with a preorder requirement? Demand proof of activity and capability!
Somebody is offering securities or asking for a loan? Demand a rigorous and fully open business model!
Buying bitcoins on a unaudited exchange? Withdraw them instantly to make sure they are really there!
Are you sure that I am you are being a bit negative?
Would you prefer if I were not sure that youre im being a bit negative?
Are you sure that I am you are being a bit negative?
While at it, What would happen if everyone on the forum is in fact fake and you're only talking with bots.
Do you wish that everyone on the forum is in fact fake and youre only talking with bots? 
While at it, What would happen if everyone on the forum is in fact fake and you're only talking with bots.
Do you wish that everyone on the forum is in fact fake and youre only talking with bots? While at it, What would happen if everyone on the forum is in fact fake and you're only talking with bots.
Do you wish that everyone on the forum is in fact fake and youre only talking with bots? Do you wish that []?
While at it, What would happen if everyone on the forum is in fact fake and you're only talking with bots.
Do you wish that everyone on the forum is in fact fake and youre only talking with bots? While at it, What would happen if everyone on the forum is in fact fake and you're only talking with bots.
Do you wish that everyone on the forum is in fact fake and youre only talking with bots?
What would happen if:
Before some of you call the scenario ridiculous and cry FUD consider this:
Before these ASIC companies showed up it was common consensus that a bitcoin ASIC would be very far down the road and that it would cost simply too much money and resources to do it. Then BFL showed up and the opinions shifted, suddenly it was the skeptics who were on the defense. They created an army of "supporters", yet the fundamental challenges remain. A background check didn't reveal any capability of producing such technology but a history of fraud.
...
- All startups selling mining ASICs either directly or access to them are scams.
Before some of you call the scenario ridiculous and cry FUD consider this:
Before these ASIC companies showed up it was common consensus that a bitcoin ASIC would be very far down the road and that it would cost simply too much money and resources to do it. Then BFL showed up and the opinions shifted, suddenly it was the skeptics who were on the defense. They created an army of "supporters", yet the fundamental challenges remain. A background check didn't reveal any capability of producing such technology but a history of fraud.
...
A. Go ask for a quote on making a chip produced on 110nm to the various fabs.
B. Consider that the chip logic of SHA2 is one of the stupidest and simple to produce.
C. GET A FUCKING CLUE
While at it, What would happen if everyone on the forum is in fact fake and you're only talking with bots ?
If I write in a database that I have X coins, those aren't 'fake' coins and more than if I write down that I have gold is it fake gold. I mean it isn't real, but it isn't even fake.
- All startups selling mining ASICs either directly or access to them are scams.
- Almost all GBLSE assets turn out to be a Ponzi or is only proftable as one.
- Major exchanges sell fake BTC or buy BTC with fake USD.
Make money slowly is the method that all good advisors recommend. The time to be an early adopter has come and gone and bitcoin is now in the make money slowly phase of it's life. A skilled speculator might be able to game the system but greed gets those peoples money too.
Mining has followed the make money slowly model for a "long time" now... ASICs may indeed come. I hope they do, I would like to own at least one. But I don't believe the profits promised are realistic. It will still be a make money slowly situation and anyone who tells you differently is probably a liar. I don't want to be first in line to own one thats for sure.
I'll sign up for a free FPGA any day of the week though and I don't care what sig I have to wear to get one cause I'm only slightly less greedy than the next guy.
Mining hasn't been about 'make money slowly' ever since gpu mining hit.
If you showed me any other investment where you could reasonable expect a 99% to 119% yearly --- when purchasing hardware that will retain 60%-80% of its value over that year... well... I'd call that investment 'get rich quick' too.
- All startups selling mining ASICs either directly or access to them are scams.
- Almost all GBLSE assets turn out to be a Ponzi or is only proftable as one.
- Major exchanges sell fake BTC or buy BTC with fake USD.
Make money slowly is the method that all good advisors recommend. The time to be an early adopter has come and gone and bitcoin is now in the make money slowly phase of it's life. A skilled speculator might be able to game the system but greed gets those peoples money too.
Mining has followed the make money slowly model for a "long time" now... ASICs may indeed come. I hope they do, I would like to own at least one. But I don't believe the profits promised are realistic. It will still be a make money slowly situation and anyone who tells you differently is probably a liar. I don't want to be first in line to own one thats for sure.
I'll sign up for a free FPGA any day of the week though and I don't care what sig I have to wear to get one cause I'm only slightly less greedy than the next guy.
Mining hasn't been about 'make money slowly' ever since gpu mining hit.
If you showed me any other investment where you could reasonable expect a 99% to 119% yearly --- when purchasing hardware that will retain 60%-80% of its value over that year... well... I'd call that investment 'get rich quick' too.
Quote
Lets pretend for a minute that major BTC companies are scams.
Yeah, that doesn't really take any pretending.
Yep, hes sound on from the looks of it.
Before these ASIC companies showed up it was common consensus that a bitcoin ASIC would be very far down the road and that it would cost simply too much money and resources to do it.
Not true at all. It was a matter of "when, not if." Structured ASICs were pursued very early in bitcoin's life. ASIC was always expected as the next step.
You are right it was always considered the next step, but I really think there was a consensus that we're not there yet. From what I remeber people talked about bitcoin prices in the thriple to quadruple figures in order for it to be viable.
What's bad about the term "fake bitcoin"?
The fact that it perpetuates the myth that the core Bitcoin infrastructure is problematic. "Fake Bitcoin" implies counterfeiting, which can't happen. Call it what you actually believe it to be: fractional reserve banking, ponzi schemes, bad business models, people getting hacked because of their own bad security but not Bitcoin itself. Bitcoin itself is still strong and misusing your terms like this makes it appear weak.
Agreed enmaku. We've already had journalists referring to 'fake', 'counterfeit' and 'phony' bitcoins - and it creates misunderstandings of the Bitcoin system.
e.g
"Faked Bitcoins Caused Price Crash, Exchange Reveals"
http://www.pcworld.com/article/234890/faked_bitcoins_caused_price_crash_exchange_reveals.html
Quote
An anonymous hacker used phony Bitcoins (BTC) last month to drive down the price of the online currency from $17.50 to a penny within the span of 30 minutes, Bitcoin exchange firm Mt.Gox has revealed.
Please - let's not encourage this.
Alright, agreed - for the sake of bitcoin. I don't really think that the term in it's context is problematic still - it's just too convinient to use it.
For anybody understanding the basics that's merely semantics....
is faudulent bitcoin denominated debt ok? That's not too catchy though
Before these ASIC companies showed up it was common consensus that a bitcoin ASIC would be very far down the road and that it would cost simply too much money and resources to do it.
Not true at all. It was a matter of "when, not if." Structured ASICs were pursued very early in bitcoin's life. ASIC was always expected as the next step.
What's bad about the term "fake bitcoin"?
The fact that it perpetuates the myth that the core Bitcoin infrastructure is problematic. "Fake Bitcoin" implies counterfeiting, which can't happen. Call it what you actually believe it to be: fractional reserve banking, ponzi schemes, bad business models, people getting hacked because of their own bad security but not Bitcoin itself. Bitcoin itself is still strong and misusing your terms like this makes it appear weak.
Agreed enmaku. We've already had journalists referring to 'fake', 'counterfeit' and 'phony' bitcoins - and it creates misunderstandings of the Bitcoin system.
e.g
"Faked Bitcoins Caused Price Crash, Exchange Reveals"
http://www.pcworld.com/article/234890/faked_bitcoins_caused_price_crash_exchange_reveals.html
Quote
An anonymous hacker used phony Bitcoins (BTC) last month to drive down the price of the online currency from $17.50 to a penny within the span of 30 minutes, Bitcoin exchange firm Mt.Gox has revealed.
Please - let's not encourage this.
What's bad about the term "fake bitcoin"?
The fact that it perpetuates the myth that the core Bitcoin infrastructure is problematic. "Fake Bitcoin" implies counterfeiting, which can't happen. Call it what you actually believe it to be: fractional reserve banking, ponzi schemes, bad business models, people getting hacked because of their own bad security but not Bitcoin itself. Bitcoin itself is still strong and misusing your terms like this makes it appear weak.
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