Look at the Price and Facts People - page 2.

clickbangdone

newbie

Activity: 14

Merit: 0

Quote from: TraderTimm on June 08, 2011, 10:05:48 AM

Quote from: clickbangdone on June 08, 2011, 08:29:54 AM

I don't think anyone needs to rack their brain to figure out a way to destroy bitcoins. Seems easy to me it just takes money.

I'm sure the US government has been a major buyer of bitcoins for months maybe even from the start.
All they have to do is dump it on the market. You guys couldn't afford to buy it all to stop the fall. 90% of you guys are weak holders you'll run away just a fast as you ran in.

Guess what happens when they get down to parity? We'll buy them all back. Have you ever traded before? Because the theories you are putting out there suggests otherwise.

I see so you guys have enough money to outspend the US government and defend bitcoins price.

My whole point here is people are going to get clobbered and lose lots of money which will hurt bitcoins future adoption. While the early adopters might be fine all the new people running in right now are going to get slaughtered.

adding 75 million to bitcoins market value in 12 hours is not sustainable

TraderTimm

legendary

Activity: 2408

Merit: 1121

Quote from: clickbangdone on June 08, 2011, 08:29:54 AM

I don't think anyone needs to rack their brain to figure out a way to destroy bitcoins. Seems easy to me it just takes money.

I'm sure the US government has been a major buyer of bitcoins for months maybe even from the start.
All they have to do is dump it on the market. You guys couldn't afford to buy it all to stop the fall. 90% of you guys are weak holders you'll run away just a fast as you ran in.

Guess what happens when they get down to parity? We'll buy them all back. Have you ever traded before? Because the theories you are putting out there suggests otherwise.

clickbangdone

newbie

Activity: 14

Merit: 0

Quote from: ironwolf on June 08, 2011, 07:04:17 AM

Quote

Would you continue to buy bitcoins if the US Government was regulating them?

I'm sure there are plenty of people in various think tanks racking their brains to come up with a technological or legal fix for the "problem of bitcoin" or the "problem of cryptocurrency" in general. But really there's no "solution", because there's ultimately no problem.

So your question is moot.

I don't think anyone needs to rack their brain to figure out a way to destroy bitcoins. Seems easy to me it just takes money.

I'm sure the US government has been a major buyer of bitcoins for months maybe even from the start.
All they have to do is dump it on the market. You guys couldn't afford to buy it all to stop the fall. 90% of you guys are weak holders you'll run away just a fast as you ran in.

ironwolf

member

Activity: 76

Merit: 10

Quote

Would you continue to buy bitcoins if the US Government was regulating them?

Sure they can tax and track major trades into and out of USD via registered businesses. But technologically, there's nothing to regulate that wouldn't ultimately be a tiny speed bump to worldwide Bitcoin adoption. Port 8333? IRC? Crypto algorithms? Open source? Tor? Freenet? Electricity? Thoughtcrime? I'm sure there are plenty of people in various think tanks racking their brains to come up with a technological or legal fix for the "problem of bitcoin" or the "problem of cryptocurrency" in general. But really there's no "solution", because there's ultimately no problem.

So your question is moot.

stic.man

full member

Activity: 168

Merit: 100

the US government regularly shuts down companies acting within the guidelines of their mother country?

stakhanov

full member

Activity: 175

Merit: 101

Quote from: clickbangdone on June 07, 2011, 11:40:54 PM

Listen to what Garzik said on the CBS interview. It doesn't sound like bitcoins will be as uncontrolled as most people on the forum thought it would.........The authorities will know who you are , governments will control it and oversee it.

It really is the only way for bitcoins to survive but to survive as what?

That would make bitcoin an awesome decentralized alternative to paypal, with cheaper fees and available everywhere. That's more than enough to drive the price of bitcoins over a thousand dollars each.

Jack of Diamonds

sr. member

Activity: 252

Merit: 251

Quote from: clickbangdone on June 08, 2011, 03:00:33 AM

random things

Why is it that every time there is a publiclity spike or a price spike, bitter fuckwads like you who never owned any BTC and are too poor to buy any mining equipment, come preaching on the forums about how it's all going to crash and we're all going to die?

Hint: It's happened dozens of times. You're not the first. And they always disappear/vanish after a few weeks.

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

Quote from: clickbangdone on June 08, 2011, 03:14:40 AM

Quote from: Findeton on June 08, 2011, 02:50:27 AM

Quote from: clickbangdone on June 08, 2011, 02:36:24 AM

Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.

So the biggest bitcoin exchange is legal. Why is that a bad thing? It actually is a very good thing.

You didn't really think you could avoid paying taxes on dollar profits, did you? If you don't want to pay taxes, don't buy dollars with your bitcoins! Let your bitcoins rest or sell them for goods not for dollars.

I'm not saying it's a bad thing.

What I'm saying is a large portion of the people on this forum believe the value of bitcoin is it's ability to not be regulated or controlled by a government. Once they figure out they are wrong what's going to happen to the value of bitcoins?

I say it becomes a paypal.
Whats a paypal worth?
Depends what currency you put into your account

Pro-gubmint troll wants to buy in cheap eh?

Two words.

Blind signing. We're going feral babe.

kstepyra

newbie

Activity: 52

Merit: 0

Because it's paypal. Bitcoin is opposite to it. It's not controlled by any government. usa can block Bitcoins but other 200+ countries will still accept it. Believe me - if a lot of people join Bitcoin in USA there will be nice fight on the streets if it will be disabled/blocked in their country.

Ofc Bitcoin have some central points - like irc, main places of exchange(mtgox) and for example website is posted on some web server with specific ip(but also on SF), but remember - irc can be replaced, server can be replaced(or even software can be distributed via p2p in torrents for example) and mtgox is in Japan, if he disappear then price will drop, but bitcoin will not disappear : )

Bitcoin can't be controlled just like that. They would need to close mtgox, put gavin in jail and close half of the internet. GL with that.

Time will show us facts.

Anyway -
It's a revolution. Go bitcoins!

btw. - epic:

Quote from: Findeton on June 08, 2011, 03:07:08 AM

Go smoke some more dollars Cool

clickbangdone

newbie

Activity: 14

Merit: 0

Quote from: Findeton on June 08, 2011, 02:50:27 AM

Quote from: clickbangdone on June 08, 2011, 02:36:24 AM

Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.

So the biggest bitcoin exchange is legal. Why is that a bad thing? It actually is a very good thing.

You didn't really think you could avoid paying taxes on dollar profits, did you? If you don't want to pay taxes, don't buy dollars with your bitcoins! Let your bitcoins rest or sell them for goods not for dollars.

I'm not saying it's a bad thing.

What I'm saying is a large portion of the people on this forum believe the value of bitcoin is it's ability to not be regulated or controlled by a government. Once they figure out they are wrong what's going to happen to the value of bitcoins?

I say it becomes a paypal.
Whats a paypal worth?
Depends what currency you put into your account

AaronM

member

Activity: 76

Merit: 10

Quote from: clickbangdone on June 08, 2011, 03:00:33 AM

[...]What good are your bitcoins if you can't easily trade them for cash.

I think you missed the point of Bitcoin entirely...

Quote

Go smoke some more weed

'k.

AaronM

member

Activity: 76

Merit: 10

"Online currency caches, such as PayPal, are beginning to accept the online coinage." What?

Findeton

full member

Activity: 126

Merit: 100

Quote from: clickbangdone on June 08, 2011, 03:00:33 AM

It is regulated. Every transaction you make at MtGox into a government currency is being tracked and recorded. Why do you think they have withdraw limits? They are a money changing business. The US government could seize their funds in a heartbeat. What good are your bitcoins if you can't easily trade them for cash.

They'd only do that for specific reasons, for example to stop tax evading.

Quote from: clickbangdone on June 08, 2011, 03:00:33 AM

Go smoke some more weed

Go smoke some more dollars Cool

hoo2jalu

member

Activity: 70

Merit: 10

Quote from: clickbangdone on June 08, 2011, 03:00:33 AM

...Every transaction you make at MtGox into a government currency is being tracked and recorded. Why do you think they have withdraw limits? They are a money changing business. The US government could seize their funds in a heartbeat. What good are your bitcoins if you can't easily trade them for cash.

Go smoke some more weed

I can buy some of that with bitcoin. Mmmm, screw euros and dollars and all that B.S.!

clickbangdone

newbie

Activity: 14

Merit: 0

Quote from: Silverpike on June 08, 2011, 02:47:58 AM

Quote from: clickbangdone on June 08, 2011, 02:36:24 AM

Quote from: DamienBlack on June 08, 2011, 02:15:45 AM

There really isn't a good way to regulate them... that's the point. How would you suggest they regulate them?

Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.

What the hell are you talking about?

The "main exchange" is MtGox. It's located in Japan, not the US, so the US cannot "regulate" it. It is totally meaningless for Japan to "regulate" it as well, since regulation of Bitcoin is technologically impossible. What are they going to do, pass laws against math? Huh

Furthermore, there is nothing that Jeff Garzik needs to do regarding "the government". Writing code is not a crime (yet), nothing he does falls under anything resembling US securities laws.

Quote

You knuckleheads just never bothered to listen. Now you get to pay the price for not paying attention.

You are an idiot, and you clearly have no idea what you are talking about whatsoever.

It is regulated. Every transaction you make at MtGox into a government currency is being tracked and recorded. Why do you think they have withdraw limits? They are a money changing business. The US government could seize their funds in a heartbeat. What good are your bitcoins if you can't easily trade them for cash.

Go smoke some more weed

Findeton

full member

Activity: 126

Merit: 100

Quote from: clickbangdone on June 08, 2011, 02:36:24 AM

Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.

So the biggest bitcoin exchange is legal. Why is that a bad thing? It actually is a very good thing.

You didn't really think you could avoid paying taxes on dollar profits, did you? If you don't want to pay taxes, don't buy dollars with your bitcoins! Let your bitcoins rest or sell them for goods not for dollars.

Silverpike

newbie

Activity: 54

Merit: 0

Quote from: clickbangdone on June 08, 2011, 02:36:24 AM

Quote from: DamienBlack on June 08, 2011, 02:15:45 AM

There really isn't a good way to regulate them... that's the point. How would you suggest they regulate them?

Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.

What the hell are you talking about?

The "main exchange" is MtGox. It's located in Japan, not the US, so the US cannot "regulate" it. It is totally meaningless for Japan to "regulate" it as well, since regulation of Bitcoin is technologically impossible. What are they going to do, pass laws against math? Huh

Furthermore, there is nothing that Jeff Garzik needs to do regarding "the government". Writing code is not a crime (yet), nothing he does falls under anything resembling US securities laws.

Quote

You knuckleheads just never bothered to listen. Now you get to pay the price for not paying attention.

You are an idiot, and you clearly have no idea what you are talking about whatsoever.

jhansen858

sr. member

Activity: 364

Merit: 250

They are not as anonymous as you think.

Think about it. You have to get them from somewhere...

a) you generated them (belong to a mining pool?) Did they log your IP?, did you sign up with them and give them your email address?
b) you purchased them (with money from a bank account??)
c) you traded for them (on what site ebay? craigs list? your cousin louie?) ask your self where did he get them your only 1 hop away from him.
d) you spent them, which super node recorded the transactions first, was the CIA watching the logs of a vast majority of the nodes to see how the transactions unfolded. Can they pinpoint your IP or geolocation from that? What other information could they calculate from the transaction logs and how they played out?

Mathematically speaking, its probably very difficult to hide your true identity completely and possibly impossible to leak absolutely fucking 0 information about your self from any transactions that you do.

I do agree that it is possible to conduct anonymous transactions with bitcoin, however, I think that a vast majority of bitcoin transactions will be very much traceable ...

clickbangdone

newbie

Activity: 14

Merit: 0

Quote from: DamienBlack on June 08, 2011, 02:15:45 AM

There really isn't a good way to regulate them... that's the point. How would you suggest they regulate them?

Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.

See the price spike to $28+ that's called a blow off top.

The cats out of the bag the US Government has their hands all over this.

People will be trampling over themselves to get their cash out soon. The main exchange won't be able to handle the stampede which will perpetuate the crash.

Bottom line Bitcoin can't be what you thought it could period.

The main developers knew the the Government would need to be involved and hinted to such.

You knuckleheads just never bothered to listen. Now you get to pay the price for not paying attention.

DamienBlack

jr. member

Activity: 56

Merit: 1

Sure you can trace them, from anonymous account to anonymous account. If I want, I'm sure I can store some bitcoins away where no one will ever find them or link them to me personally. And there isn't a way to stop me the way the system is currently designed.

Topic: Look at the Price and Facts People - page 2. (Read 6407 times)