Media : Bitcoin is Done | Bitcointalksearch.org

tvbcof

legendary

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Quote from: fivebells on October 18, 2011, 06:14:13 PM

Quote from: evoorhees on October 18, 2011, 01:35:12 PM

There are myriad groups building various projects, some private and some public. The best ones are generally private, as the profit motive is involved.

I'm mildly skeptical, mildly hopeful. Wish all those clever folks the best from me.

Heh. It is indeed helpful to keep things on the private side when the motivation is to profit...especially when the design is to profit by ripping people off.

Developments out of the Bitcoin community generally are far and away the most closed source I've been mildly involved with and also the most scam infested. But the 'free market' tends to correct for such things...and we are down to $2.36/BTC as I tap this out.

fivebells

sr. member

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Quote from: evoorhees on October 18, 2011, 01:35:12 PM

There are myriad groups building various projects, some private and some public. The best ones are generally private, as the profit motive is involved.

I'm mildly skeptical, mildly hopeful. Wish all those clever folks the best from me.

tvbcof

legendary

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Quote from: cypherdoc on October 18, 2011, 05:47:31 PM

another aspect of what i just said is that if the central banks ever got the sense that Bitcoin was unstoppable, heaven knows what they'd do to actually get a foot in the game.

I do indeed hope you are right. I've got a big bet on that happening eventually and working out in my favor. But I consider it a long-shot.

Quote from: cypherdoc on October 18, 2011, 05:47:31 PM

which is precisely why i feel they are doing everything they can to try and prevent that from happening such as forum trolling despite what some of you believe.

My sense is that about half the people in these forums are to some extent, trolls (including myself), but I can detect very little evidence that there is any coordination here.

---

To follow-up on your next post, I doubt that 'they' are under the illusion that they could 'kill' Bitcoin dead or even drive the price to to a significantly low level (the designers were to clever for that.) A good policy would actually be to keep it cranking along on life support if need be even, monitor and catalog the participants, and generally study it for weaknesses and exploits. That may (or may not) be the phase we are in now. I'm undecided.

MatthewLM

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As long as that have the armies and weapons.

Steve

hero member

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Quote from: tvbcof on October 18, 2011, 05:42:28 PM

Quote from: cypherdoc on October 18, 2011, 05:35:02 PM

you have to remember that Bitcoin is MORE of a threat to the current system than even gold or silver. why? because the monetary task masters do not have any Bitcoin, at least that we know of. at least the Fed has what they report they have of gold in Fort Knox which supposedly is the largest stash in the world. with Bitcoin they don't even have a foot in the game which is why its SO threatening.

I dis-agree. If "they" wanted a foot in the game, they'd have one for chump change. The whole economy is now, what, $20 mill? Taking a position would undoubtedly increase that somewhat even if they were careful, but we are still talking about a tiny tiny amount of money here. Probably the cost of running just the US's military for a matter of seconds.

Banks actually make a ton of money chasing weaker hands between gold and fiat currency...just when you think things are about to collapse, they slam on the brakes to the money printing machine and send gold plummeting. Of course, they are well aware of this ahead of time and can front run. They can certainly do this with bitcoin and with anything else. As long as they control the supply of dollars and as long as the dollar has a significant value relative to everything else in the economy, they'll be able to keep doing it.

cypherdoc

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Quote from: tvbcof on October 18, 2011, 05:42:28 PM

Quote from: cypherdoc on October 18, 2011, 05:35:02 PM

you have to remember that Bitcoin is MORE of a threat to the current system than even gold or silver. why? because the monetary task masters do not have any Bitcoin, at least that we know of. at least the Fed has what they report they have of gold in Fort Knox which supposedly is the largest stash in the world. with Bitcoin they don't even have a foot in the game which is why its SO threatening.

I dis-agree. If "they" wanted a foot in the game, they'd have one for chump change. The whole economy is now, what, $20 mill? Taking a position would undoubtedly increase that somewhat even if they were careful, but we are still talking about a tiny tiny amount of money here. Probably the cost of running just the US's military for a matter of seconds.

no, step one would be to try and kill Bitcoin before it got off the ground. that way they wouldn't have to put any money into Bitcoin at all which could paradoxically help legitimize it by making the price go up.

to this day no one has explained why the mtgox hacker would drive the price to zero without lifting his withdrawal limits ahead of time.

johnj

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Quote from: cypherdoc on October 18, 2011, 05:47:31 PM

another aspect of what i just said is that if the central banks ever got the sense that Bitcoin was unstoppable, heaven knows what they'd do to actually get a foot in the game.

which is precisely why i feel they are doing everything they can to try and prevent that from happening such as forum trolling despite what some of you believe.

Pffft, if anything they're just lookin at tips on how to print so much so fast Wink

cypherdoc

legendary

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another aspect of what i just said is that if the central banks ever got the sense that Bitcoin was unstoppable, heaven knows what they'd do to actually get a foot in the game.

which is precisely why i feel they are doing everything they can to try and prevent that from happening such as forum trolling despite what some of you believe.

LightRider

legendary

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I advocate the Zeitgeist Movement & Venus Project.

Reports coming in today that the US Dollar is dead due to >90% loss of value in the last 100+ years.

tvbcof

legendary

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Quote from: cypherdoc on October 18, 2011, 05:35:02 PM

you have to remember that Bitcoin is MORE of a threat to the current system than even gold or silver. why? because the monetary task masters do not have any Bitcoin, at least that we know of. at least the Fed has what they report they have of gold in Fort Knox which supposedly is the largest stash in the world. with Bitcoin they don't even have a foot in the game which is why its SO threatening.

I dis-agree. If "they" wanted a foot in the game, they'd have one for chump change. The whole economy is now, what, $20 mill? Taking a position would undoubtedly increase that somewhat even if they were careful, but we are still talking about a tiny tiny amount of money here. Probably the cost of running just the US's military for a matter of seconds.

SgtSpike

legendary

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Quote from: Rassah on October 18, 2011, 04:07:35 PM

I now keep my wallet closed most of the time because of Comcast's 250gig monthly limit. Bitcoin app alone can sometimes use up 7gigs in one day sharing the blockchain. Beginning of the month I try to keep it open more.

You know, I've gone way past Comcast's supposed "limit" every month for the past year, and never had a problem. One month, even had more than 1TB of upload. Most months it's 500-750GB. I honestly wouldn't sweat it unless they give you a warning.

cypherdoc

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you have to remember that Bitcoin is MORE of a threat to the current system than even gold or silver. why? because the monetary task masters do not have any Bitcoin, at least that we know of. at least the Fed has what they report they have of gold in Fort Knox which supposedly is the largest stash in the world. with Bitcoin they don't even have a foot in the game which is why its SO threatening.

evoorhees

legendary

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Democracy is the original 51% attack

Here is a fun list of things that also died along with Bitcoin...

http://technologizer.com/2010/08/18/the-tragic-death-of-practically-everything/

Mageant

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Quote from: the founder on October 18, 2011, 12:00:56 PM

http://news.google.com/news/more?q=bitcoin&hl=en&client=ubuntu&hs=FgY&channel=fs&prmd=imvnsl&bav=on.2,or.r_gc.r_pw.,cf.osb&biw=1366&bih=563&um=1&ie=UTF-8&ncl=dXqLm7jYQ9qJ4_M_U-BYFQco_2LzM&ei=SLCdTuONDOzXiALsh-XNCQ&sa=X&oi=news_result&ct=more-results&resnum=1&ved=0CCsQqgIwAA

Forbes, Wired, Ars, all of them saying it's toast.

Sad

That what they want people to believe.
Remember some of these organisations (at least Forbes and Guardian) support the current system and Bitcoin is a threat to the system.

Furthermore look at this quote from geekosystem!:

Quote

At least one Reddit user is speculating that one Bitcoin will be word one USD sometime soon, effectively making Bitcoin worthless — not in that one USD is worthless, but in that one can simply use USD to pay for things instead of go through the process of obtaining Bitcoins.

http://www.geekosystem.com/price-bitcoin-falls-below-mining/
So using Bitcoins is only worthwhile if they are more worth than 1$ Huh

giszmo

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WalletScrutiny.com

Quote from: Elwar on October 18, 2011, 02:21:48 PM

Quote

Bitcoin value crashes below cost of production as broader use stutters

Not for everyone...

mining difficulty going down is a wonderful thing

... difficulty is the only thing that secures BTC. I don't mind if BTC falls into a 10 years slumber of low rates. I would mind though if some competing chain or banking cartel would destroy and control our block chain.

Rassah

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Quote from: ShadowOfHarbringer on October 18, 2011, 04:11:57 PM

Quote from: Rassah on October 18, 2011, 04:07:35 PM

I now keep my wallet closed most of the time because of Comcast's 250gig monthly limit. Bitcoin app alone can sometimes use up 7gigs in one day sharing the blockchain. Beginning of the month I try to keep it open more.

You still have monthly bandwidth limits ?
OMG, and people say that my country is so called "developing world".

Not "still," the bandwidth limits here in US is a new thing, just one or two years old. Our web and cell providers didn't used to have those...

MatthewLM

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I'm pretty sure the bitcoin black markets wont die out soon.

Quote from: ribuck on October 18, 2011, 04:17:45 PM

Ten years from now they'll be using Bitcoin daily and will have forgotten that they ever dissed it. Just like with Wikipedia.

That would drive governments up the wall for the better (less government) or worse (more government to counteract bitcoin).

ribuck

donator

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For the first few years after Wikipedia was launched, it was widely ridiculed. It was written off by many journalists as something that could never possibly work.

Many journalists have a very short attention span. Ten years from now they'll be using Bitcoin daily and will have forgotten that they ever dissed it. Just like with Wikipedia.

ShadowOfHarbringer

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Bringing Legendary Har® to you since 1952

Quote from: Rassah on October 18, 2011, 04:07:35 PM

I now keep my wallet closed most of the time because of Comcast's 250gig monthly limit. Bitcoin app alone can sometimes use up 7gigs in one day sharing the blockchain. Beginning of the month I try to keep it open more.

You still have monthly bandwidth limits ?
OMG, and people say that my country is so called "developing world".

Currently i have 6Mbit at home & 20Mbit at work, no B/W caps at all.

But speeds up to 50 or even 100Mbit (uncapped of course) are avaiable in different regions of the city.

nighteyes

member

Activity: 105

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Quote from: Rassah on October 18, 2011, 03:22:31 PM

Quote from: nighteyes on October 18, 2011, 03:12:50 PM

The only thing bitcoiners can do is to fight the hoarders as much as they can. Dont use MtGox and bitcoinica and send a message to the hoarders.

Fight the hoarders? Is the money I worked hard to earn, which I then put into the bitcoin economy in order to boost is value and get some bitcoin to hoard, not worth anything? Sure, I may not be working directly for bitcoin, but it's not as if I just pulled my hoarded bitcoin, or the money used to buy it with, right out of my ass.

I empathize with you, since there is no decent way to lend or invest unused money for the average joe....if one holds 50 bitcoins and then donates 50% to programming efforts, it wont do squat when Mt gorilla Gox sits still.

I just keep saving away USD in case things improve....hoarders get no bailout from me. Its either spend,sell, or die....and the more you get rid of the ability to 'sell', the better of it is right now. I dont know about the merchants....an exchange that just allows merchants to sell into USD;D

Topic: Media : Bitcoin is Done (Read 4798 times)