Media : Bitcoin is Done - page 3. | Bitcointalksearch.org

plastic.elastic

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

Quote from: fivebells on October 18, 2011, 01:06:39 PM

Quote from: evoorhees on October 18, 2011, 12:19:42 PM

Actually, it is. Those of us involved in the projects are aware of this.

Where can I find out about this? Haven't seen anything really earth-shattering in the bitcoin development mailing list...

Those involved int he development mailing list are primarily working on the core protocol and client. There are myriad groups building various projects, some private and some public. The best ones are generally private, as the profit motive is involved.

The decentralized nature of Bitcoin means that it's a bit difficult for any person or group to get a full picture of everything going on. I pay quite a bit of attention, but only know a fraction of the people working on the big projects, and only still in English. I have no idea what's going on in other languages. Hundreds (thousands?) of entrepreneurs are building right now, they'll be getting rich with their creations, not with the speculation on current spot price of a Bitcoin.

Sounds lovely, but ironically your whole post is telling us to speculate if anything.

RodeoX

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The revolution will be monetized!

I predict that a year from now there will be new articles about bitcoin's death. I mean, how long ago did god die? and you still hear about her all the time.

evoorhees

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Democracy is the original 51% attack

Quote from: fivebells on October 18, 2011, 01:06:39 PM

Quote from: evoorhees on October 18, 2011, 12:19:42 PM

Actually, it is. Those of us involved in the projects are aware of this.

Where can I find out about this? Haven't seen anything really earth-shattering in the bitcoin development mailing list...

Those involved int he development mailing list are primarily working on the core protocol and client. There are myriad groups building various projects, some private and some public. The best ones are generally private, as the profit motive is involved.

The decentralized nature of Bitcoin means that it's a bit difficult for any person or group to get a full picture of everything going on. I pay quite a bit of attention, but only know a fraction of the people working on the big projects, and only still in English. I have no idea what's going on in other languages. Hundreds (thousands?) of entrepreneurs are building right now, they'll be getting rich with their creations, not with the speculation on current spot price of a Bitcoin.

fivebells

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Quote from: evoorhees on October 18, 2011, 12:19:42 PM

Actually, it is. Those of us involved in the projects are aware of this.

Where can I find out about this? Haven't seen anything really earth-shattering in the bitcoin development mailing list...

proudhon

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Quote from: JackH on October 18, 2011, 12:50:20 PM

And last time I checked Bitcoin is more than twice as valuable as the dollar.

Oh, sure, 1BTC is currently worth $2.5. Of course, that's no comfort at all the vast majority of people who initially bought bitcoins after May. In that case they have less value now than they spent.

Rassah

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Hey, if Bank of America can go from $54 to $3 and still not be done, why can't Bitcoin?

Shawshank

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Bitcoin adjusts itself nicely via difficulty. It creates its own stability. The BTC exchange rate has been falling heavily lately, but the current exchange rate is higher than it was 6 months ago. For goodness's sake, the Bitcoin network has been up and running since 2009 when the BTC to dollar exchange rate was at a few cents and it was business as usual.

Just bring high inflation to the US or Europe and Bitcoin will be back as a safe haven against Quantitative Easing. Just bring political instability, bank runs and "corralitos", and Bitcoin will be treated as it deserves to be treated, a scarce commodity with unbeatable international value transfer capabilities.

allten

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You Don't Bitcoin 'till You Mint Coin

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

More news that equates Bitcoin's success with its price.
That's misleading.

For a currency that is peer to peer and that is grass root sponsored, I would have to say that it is doing EXTREMELY well.
The sooner this crash finishes and we can reach prices that are sustainable the better.

It goes to show (in my opinion), that the number one weakness of any currency of this nature is big money causing a pump and dump type scenario. We've been pumped and we've been dumped! And the media has helped out big time by giving us a lot of positive coverage on the upside and a lot of negative coverage on the down side. The best we can do is learn from this experience and profit on the next wave (upside and downside) if it happens (second generation of early adopters) which will help such a scenario not to be as severe.

The media will never get behind this in a long term positive way. They have an agenda.
Government, banks, and BIG media are all one big happy marriage and it wants nothing to do with our project of freedom.

JackH

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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

Wow! If Forbes or Wired is saying it then it must be true. Wait a minute......what exactly does Forbes or Wired has to do with Bitcoin?

And last time I checked Bitcoin is more than twice as valuable as the dollar. Beside that, its decentralized, so how exactly can it die if there is no central authority that can crush or become insolvent? People get it in your heads, you cannot place the same terms on Bitcoin as you can with fiat money. This is something new, now please find other ways to describe it rather than stating its dead which is impossible unless all clients are uninstalled.

johnj

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Quote from: Gabi on October 18, 2011, 12:46:40 PM

Quote

"Why turn my X into Y, when Y is going down so hard?".

Because it's the only way to donate to wikileaks and occupy wall street. Paypal happily blocked the donations to them.

Great point - and I think that's where the blockchain shines. Once this ability 'sets in' with people, it'll be interesting to see how the world reacts.

You (genral 'you') gotta admit, the whole thing was kinda hard to wrap your head around at first. And the more you learned, the more that set in on how unique the blockchain is. That takes time. The OWS thing is huge as far as displaying the utility of Bitcoin. It just needs it's own vendors who trade and refill stock IN bitcoin. Dang,once that happens... watch out. But will Bitcoin get there.

Gabi

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If you want to walk on water, get out of the boat

Quote

"Why turn my X into Y, when Y is going down so hard?".

Because it's the only way to donate to wikileaks and occupy wall street. Paypal happily blocked the donations to them.

johnj

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Activity: 154

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Quote from: evoorhees on October 18, 2011, 12:18:49 PM

When the media announces a booming new industry, that industry is at its peak. When the media announces a dead industry, that's likely the bottom.

I don't understand why everyone is so concerned with the market price... people treat it like a stock, and ascribe the health of Bitcoin to the market (or share) price.

It belies an fundamental misunderstanding of the nature of Bitcoin. It's a protocol, not a company.

Sure it's not a stock, but comparing numbers is what any sane person would do. "Why turn my X into Y, when Y is going down so hard?".

Sure, the blockchain is great. But the purchasing power is going down, fast, as most merchants pin bitcoins to fiat. Purchasing power is different than the blockchain.

There have been many 'one hit wonders', and many technologies which weren't adopted until dozens of years after the initial discovery.

For the record (Edit) - I haven't sold. (end edit). I honestly think the initial distribution was so focused on a handful of non-economic folk, that these massive sell offs 1) don't make sense, and 2) are primarily panics. The initial distribution (unlike 'actual' stocks) weren't to people who know better, they were to the conspiracy nut who has his head way too far into his tinfoil hat, or the gamer who found a way to pay of his leet warcraft rig. I think these are the people getting out. Further investors will be those who invest in Bitcoin for the blockchain - which I think has a wonderful future ahead.

deepceleron

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60000 people running the Bitcoin client daily != dead.
9.5 terahashes/s of mining != dead.
454326 Bitcoins sent/spent in the last 24 hours != dead.
~60k of BTC/$200,000 traded daily on currency exchanges != dead.
34 code pull requests in the last three days != dead.

Somebody is not checking their facts. An inflationary phase is good to get the bitcoins moving!

DeathAndTaxes

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Gerald Davis

Quote from: cypherdoc on October 18, 2011, 12:29:19 PM

The Guardian article can't even get their numbers right; it never fell to btwn $1-2.

when its in your own best interest to get things wrong, you'll get them wrong.

Yeah stupid me I thought maybe it had dipped to <$2 and looked at some of my buy orders and then the trade history. Nope. Guardian was just full of shit. I should have expected that.

Steve

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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

(btw, do all these writers just copy/paste each other?)

proudhon

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Ah, nice, the final nails coming in.

cypherdoc

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The Guardian article can't even get their numbers right; it never fell to btwn $1-2.

when its in your own best interest to get things wrong, you'll get them wrong.

Gabi

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If you want to walk on water, get out of the boat

Don't you know? Forbes and wired command us. They declared bitcoin done, so it is done.

Gerken

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Quote from: evoorhees on October 18, 2011, 12:19:42 PM

Quote from: the joint on October 18, 2011, 12:18:40 PM

Quote from: infofront on October 18, 2011, 12:13:04 PM

I find it odd that so many people who were once into bitcoin are now saying that it's dead. The bubble burst. That's all. Get over it.
Bitcoin is stronger now than it's ever been.

There is absolutely nothing to say it is stronger now than it was 1 month ago.

Actually, it is. Those of us involved in the projects are aware of this.

Oh well golly gee, as long as you say so. Everybody just go about your business! Nothing to see here!

Gabi

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If you want to walk on water, get out of the boat

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

Troll detected

and

Everyone know that forbes and wired are very important for bitcoin and they know a lot of it. We totally depend on them

Topic: Media : Bitcoin is Done - page 3. (Read 4798 times)