Liberty Reserve shutdown is a boost for Bitcoin? - page 5.

trepper

member

Activity: 89

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Quote from: Rampion on May 30, 2013, 11:21:28 AM

EDIT: and BTW, now is YOUR turn to demonstrate with facts, figures and sources that "the majority of business that is Bitcoin is not legitimate" (quoting you literally). Came on, "son", show us your cards.

I think he obviously means that there no such thing as real bitcoin business.
And I think you will have hard time proving he's wrong.
In fact you have already demonstrated he's right Grin

Coinseeker

sr. member

Activity: 252

Merit: 250

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: Coinseeker on May 30, 2013, 11:15:10 AM

Quote from: Rampion on May 30, 2013, 11:06:27 AM

Quote from: Coinseeker on May 30, 2013, 10:57:12 AM

Quote from: becoin on May 30, 2013, 10:55:59 AM

Quote from: Coinseeker on May 30, 2013, 10:54:01 AM

it simply means that the majority of business that is Bitcoin is not legitimate.

And your assumption is based on what facts? Inner voices?

Two words: Silk Road

I like how you guys are trying to play dumb. As you see, the USG isn't fooled either. Roll Eyes

Silk Road? They move aprox. $1.2M per month.

Trading volume at Gox in the last 30 days is $238,479,686.66

So, come on, who are the other "criminals" using Bitcoin and moving twenty times more than Silk Road monthly? Please let me know, and please include figures, facts and sources to your groundless speculations.

And BTW, you may be tempted to say that the rest of volume in BTC's economy is just speculators trading? Well, AFAIK trading is a "legit" business - isn't it?

Wasen't it you who was just arguing that Bitcoin will survive because of how big the black market is? Grin

Do you want me to pull up the posts?? Grin

You might wanna go back to the "up, up, up" speculation thread, son. Roll Eyes

Quote from: Rampion on May 29, 2013, 04:25:33 AM

@Coinseeker:

1) you don't seem to understand that black market is not "tiny". It's a 1,800 billion/year economy. Do the maths.

Quote from: Rampion on May 29, 2013, 03:05:30 AM

Based on facts: the demand created by a single Darknet website (Silk Road) + a single gambling website (Satoshidice) is enough to take one BTC to be worth aprox. 14 of your beloved US dollars. Maybe you do not understand that 14 (fourteen) dollars for something like Bitcoin is not trivial (it was worth $0.079 in May 2010 - did you know?)

What I'm trying to explain you is that Bitcoin has a HUGE growth potential. It's price already went from $0.07 to $14 because of real but extremely reuced demand, that's a x200 increase in 1 year because of Satoshidice and Silk Road.

And just wait for the "black market" to see how good can be BTC for them (Dread Pirate Roberts is a visionary, but give to his "folks" some years to understand BTC), and for more gambling sites to embrace it.

Because the core characterisitics of Bitcoin are a) decentralized and b) trust-free, and hence unseizable and uncontrollable by Governments. And that very characteristics will attract a very specific real and powerful demand, as they did with Satoshidice and Silk Road.

Your honor...I rest my case.

[/quote]

And so? I explained you that even if the US bans BTC, its economy will still grow and expand. Even if you edited very well my posts to try to prove your points, you just made a fool of yourself, because my point still stands: BTC will grow in price and will survive even if its banned GLOBALLY, because black market's economy is much bigger than you seem to believe.

That said, this has nothing to do with "the majority of business that is Bitcoin is not legitimate". Now, grow some balls and show us some figures about how "the majority of business that is Bitcoin is not legitimate". I showed you some hard figures that demonstrate that Silk Road is a tiny drop in BTC's ocean.

It's your turn, troll. I'm waiting.

ThatDGuy

hero member

Activity: 728

Merit: 500

Quote from: Rampion on May 30, 2013, 11:21:28 AM

WTF are you talking about? What I tried to explain you is that BTC will survive even if it's banned - because it was designed to be resilient to prohibition/banning. Secondly, I explained you that black market's economy IS HUGE - actually is worth $1,800 billion/year, which means that BTC's would rise in value even if it was only based on black market's economy.

Highlighting what I was attempting to write out. The fact that your words were taken completely out of context quickly made the entire discussion nonsensical.

creativex

sr. member

Activity: 434

Merit: 250

He's got off suit 7 & 2. He's a trolling drama queen.

Simply spewing the silly rhetoric mass media pukes out to scare soccer moms and control the masses doesn't make it so.

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: Coinseeker on May 30, 2013, 11:15:10 AM

Quote from: Rampion on May 30, 2013, 11:06:27 AM

Quote from: Coinseeker on May 30, 2013, 10:57:12 AM

Quote from: becoin on May 30, 2013, 10:55:59 AM

Quote from: Coinseeker on May 30, 2013, 10:54:01 AM

it simply means that the majority of business that is Bitcoin is not legitimate.

And your assumption is based on what facts? Inner voices?

Two words: Silk Road

I like how you guys are trying to play dumb. As you see, the USG isn't fooled either. Roll Eyes

Silk Road? They move aprox. $1.2M per month.

Trading volume at Gox in the last 30 days is $238,479,686.66

So, come on, who are the other "criminals" using Bitcoin and moving twenty times more than Silk Road monthly? Please let me know, and please include figures, facts and sources to your groundless speculations.

And BTW, you may be tempted to say that the rest of volume in BTC's economy is just speculators trading? Well, AFAIK trading is a "legit" business - isn't it?

Wasen't it you who was just arguing that Bitcoin will survive because of how big the black market is? Grin

Do you want me to pull up the posts?? Grin

You might wanna go back to the "up, up, up" speculation thread, son. Roll Eyes

WTF are you talking about? What I tried to explain you is that BTC will survive even if it's banned - because it was designed to be resilient to prohibition/banning. Secondly, I explained you that black market's economy IS HUGE - actually is worth $1,800 billion/year, which means that BTC's would rise in value even if it was only based on black market's economy.

And now pull up the posts, FUD-spreader troll, and try to demonstrate that I said something different to what I just explained above - or STFU and GTFO.

EDIT: and BTW, now is YOUR turn to demonstrate with facts, figures and sources that "the majority of business that is Bitcoin is not legitimate" (quoting you literally). Came on, "son", show us your cards.

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: Rampion on May 30, 2013, 11:06:27 AM

Quote from: Coinseeker on May 30, 2013, 10:57:12 AM

Quote from: becoin on May 30, 2013, 10:55:59 AM

Quote from: Coinseeker on May 30, 2013, 10:54:01 AM

it simply means that the majority of business that is Bitcoin is not legitimate.

And your assumption is based on what facts? Inner voices?

Two words: Silk Road

I like how you guys are trying to play dumb. As you see, the USG isn't fooled either. Roll Eyes

Silk Road? They move aprox. $1.2M per month.

Trading volume at Gox in the last 30 days is $238,479,686.66

So, come on, who are the other "criminals" using Bitcoin and moving twenty times more than Silk Road monthly? Please let me know, and please include figures, facts and sources to your groundless speculations.

And BTW, you may be tempted to say that the rest of volume in BTC's economy is just speculators trading? Well, AFAIK trading is a "legit" business - isn't it?

Wasen't it you who was just arguing that Bitcoin will survive because of how big the black market is? Grin

Do you want me to pull up the posts?? Grin

You might wanna go back to the "up, up, up" speculation thread, son. Roll Eyes

Quote from: Rampion on May 29, 2013, 04:25:33 AM

@Coinseeker:

1) you don't seem to understand that black market is not "tiny". It's a 1,800 billion/year economy. Do the maths.

Quote from: Rampion on May 29, 2013, 03:05:30 AM

Based on facts: the demand created by a single Darknet website (Silk Road) + a single gambling website (Satoshidice) is enough to take one BTC to be worth aprox. 14 of your beloved US dollars. Maybe you do not understand that 14 (fourteen) dollars for something like Bitcoin is not trivial (it was worth $0.079 in May 2010 - did you know?)

What I'm trying to explain you is that Bitcoin has a HUGE growth potential. It's price already went from $0.07 to $14 because of real but extremely reuced demand, that's a x200 increase in 1 year because of Satoshidice and Silk Road.

And just wait for the "black market" to see how good can be BTC for them (Dread Pirate Roberts is a visionary, but give to his "folks" some years to understand BTC), and for more gambling sites to embrace it.

Because the core characterisitics of Bitcoin are a) decentralized and b) trust-free, and hence unseizable and uncontrollable by Governments. And that very characteristics will attract a very specific real and powerful demand, as they did with Satoshidice and Silk Road.

Your honor...I rest my case.

[/quote]

trepper

member

Activity: 89

Merit: 12

Quote from: Coinseeker on May 30, 2013, 10:57:12 AM

Quote from: becoin on May 30, 2013, 10:55:59 AM

Quote from: Coinseeker on May 30, 2013, 10:54:01 AM

it simply means that the majority of business that is Bitcoin is not legitimate.

And your assumption is based on what facts? Inner voices?

I protest vigorously, becoin's rethoric tryout was adressed to me, not to you...
He is pointless, but he's mine !!!!

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: Coinseeker on May 30, 2013, 10:57:12 AM

Quote from: becoin on May 30, 2013, 10:55:59 AM

Quote from: Coinseeker on May 30, 2013, 10:54:01 AM

it simply means that the majority of business that is Bitcoin is not legitimate.

And your assumption is based on what facts? Inner voices?

Two words: Silk Road

I like how you guys are trying to play dumb. As you see, the USG isn't fooled either. Roll Eyes

Silk Road? They move aprox. $1.2M per month.

Trading volume at Gox in the last 30 days is $238,479,686.66

So, come on, who are the other "criminals" using Bitcoin and moving twenty times more than Silk Road monthly? Please let me know, and please include figures, facts and sources to your groundless speculations.

And BTW, you may be tempted to say that the rest of volume in BTC's economy is just speculators trading? Well, AFAIK trading is a "legit" business - isn't it?

trepper

member

Activity: 89

Merit: 12

Quote from: creativex on May 30, 2013, 09:23:55 AM

Shall I immediately notify wordpress, bitspend, bitcoinstore, and foodler that BTC is only useful for criminal activity?

Maybe you should not, considering the cumulated revenues of all those megabusiness involved in bitcoin...

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: becoin on May 30, 2013, 10:55:59 AM

Quote from: Coinseeker on May 30, 2013, 10:54:01 AM

it simply means that the majority of business that is Bitcoin is not legitimate.

And your assumption is based on what facts? Inner voices?

Two words: Silk Road

I like how you guys are trying to play dumb. As you see, the USG isn't fooled either. Roll Eyes

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: Coinseeker on May 30, 2013, 10:54:01 AM

it simply means that the majority of business that is Bitcoin is not legitimate.

And your assumption is based on what facts? Inner voices?

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: creativex on May 30, 2013, 09:59:29 AM

Quote from: Coinseeker on May 30, 2013, 09:50:02 AM

Quote from: creativex on May 30, 2013, 09:23:55 AM

Quote from: Coinseeker on May 30, 2013, 09:06:19 AM

It's what bitcoin is built on. Criminals and illegal activity. You're trying to play the devils advocate as if somehow, Bitcoin is attractive to legitimate individuals, but it's only attractive as a commodity for those folks, like myself.

Still waiting for the punchline. Shall I immediately notify wordpress, bitspend, bitcoinstore, and foodler that BTC is only useful for criminal activity?

I've not a clue what your typical LR user was into, nor do I care, but it's pretty clear the term "criminal" is a pretty fluid concept in Amerika at this time.

I never said it's only useful for criminals. The reading skills on this forum are really pathetic. I guess that means you'll find your punchline when you look in the mirror. Roll Eyes

No you said...

Quote

It's what bitcoin is built on. Criminals and illegal activity. You're trying to play the devils advocate as if somehow, Bitcoin is attractive to legitimate individuals, but it's only attractive as a commodity for those folks, like myself.

...and now that you've been called on your ridiculous comments you're resorting to childish insults and petty blather instead of intelligent discourse. Welcome to ignore...troll.

Twisting my words doesn't make your point any more valid. We all know what Bitcoin is and so does the USG. Doesn't mean it can't be used for legitimate commerce, it simply means that the majority of business that is Bitcoin is not legitimate. Sorry if the facts hurt your feelings. Guess you should have thought about that while everyone was running around saying "f**k the government", and supporting any business that would deal in Bitcoin. Legality has been irrelevant to this point and apparently remains so. Deal with it. You reap what you sow.

bitcoinbear

hero member

Activity: 518

Merit: 500

Quote from: trepper on May 30, 2013, 09:08:35 AM

Quote from: bitcoinbear on May 30, 2013, 08:31:02 AM

If those people who bought at $200/btc had any sense, then they would also have bought at least as many bitcoins soon thereafter at $50/btc

Maybe, but....
If those people bought @266 according to the bullish hard math shit we read from some hero members around april, they have no money to spend until they sell @60 Grin

If they invested all their money at once based on what some people said on an internet forum, then they deserve to have lost a bunch of money.

creativex

sr. member

Activity: 434

Merit: 250

Quote from: Coinseeker on May 30, 2013, 09:50:02 AM

Quote from: creativex on May 30, 2013, 09:23:55 AM

Quote from: Coinseeker on May 30, 2013, 09:06:19 AM

It's what bitcoin is built on. Criminals and illegal activity. You're trying to play the devils advocate as if somehow, Bitcoin is attractive to legitimate individuals, but it's only attractive as a commodity for those folks, like myself.

Still waiting for the punchline. Shall I immediately notify wordpress, bitspend, bitcoinstore, and foodler that BTC is only useful for criminal activity?

I've not a clue what your typical LR user was into, nor do I care, but it's pretty clear the term "criminal" is a pretty fluid concept in Amerika at this time.

I never said it's only useful for criminals. The reading skills on this forum are really pathetic. I guess that means you'll find your punchline when you look in the mirror. Roll Eyes

No you said...

Quote

It's what bitcoin is built on. Criminals and illegal activity. You're trying to play the devils advocate as if somehow, Bitcoin is attractive to legitimate individuals, but it's only attractive as a commodity for those folks, like myself.

...and now that you've been called on your ridiculous comments you're resorting to childish insults and petty blather instead of intelligent discourse. Welcome to ignore...troll.

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: creativex on May 30, 2013, 09:23:55 AM

Quote from: Coinseeker on May 30, 2013, 09:06:19 AM

It's what bitcoin is built on. Criminals and illegal activity. You're trying to play the devils advocate as if somehow, Bitcoin is attractive to legitimate individuals, but it's only attractive as a commodity for those folks, like myself.

Still waiting for the punchline. Shall I immediately notify wordpress, bitspend, bitcoinstore, and foodler that BTC is only useful for criminal activity?

I've not a clue what your typical LR user was into, nor do I care, but it's pretty clear the term "criminal" is a pretty fluid concept in Amerika at this time.

I never said it's only useful for criminals. The reading skills on this forum are really pathetic. I guess that means you'll find your punchline when you look in the mirror. Roll Eyes

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: trepper on May 30, 2013, 09:08:35 AM

they have no money to spend until they sell @60 Grin

And your assumption is based on what facts? Inner voices?

Miz4r

legendary

Activity: 1246

Merit: 1000

Quote from: bitcoinbear on May 30, 2013, 08:31:02 AM

Quote from: trepper on May 30, 2013, 06:26:35 AM

Quote from: Rampion on May 30, 2013, 06:14:03 AM

If you think $200/BTC is expensive... Then you do not know enough about both past Bitcoin history and its potential.

I don't think (and never said) it's expensive or cheap.
I've just asked if those who bought 200$/btc can really feel they've got "sound money for their retirement and health insurance".

If those people who bought at $200/btc had any sense, then they would also have bought at least as many bitcoins soon thereafter at $50/btc, thus their average cost of bitcoins would be no more than $125/btc, so they could sell right now for a profit. Even if they did not grab the dip, the price of bitcoins was under $100/btc for a while, so they could definitely have lowered their average cost by now.

I've bought at $140, $200, $225, and then at $60, $70 and more in between that and the current price. Right after the crash I had 'lost' more than 60% of my investment, now I could sell at a profit if I wanted to. I will not ofcourse, I'm in this for the long run.

creativex

sr. member

Activity: 434

Merit: 250

Quote from: Coinseeker on May 30, 2013, 09:06:19 AM

It's what bitcoin is built on. Criminals and illegal activity. You're trying to play the devils advocate as if somehow, Bitcoin is attractive to legitimate individuals, but it's only attractive as a commodity for those folks, like myself.

Still waiting for the punchline. Shall I immediately notify wordpress, bitspend, bitcoinstore, and foodler that BTC is only useful for criminal activity?

I've not a clue what your typical LR user was into, nor do I care, but it's pretty clear the term "criminal" is a pretty fluid concept in Amerika at this time.

trepper

member

Activity: 89

Merit: 12

Quote from: bitcoinbear on May 30, 2013, 08:31:02 AM

If those people who bought at $200/btc had any sense, then they would also have bought at least as many bitcoins soon thereafter at $50/btc

Maybe, but....
If those people bought @266 according to the bullish hard math shit we read from some hero members around april, they have no money to spend until they sell @60 Grin

But they can be happy: this was not govt nor inflation who dicounted their health insurance Cheesy

Topic: Liberty Reserve shutdown is a boost for Bitcoin? - page 5. (Read 12720 times)