The TOTAL volume at mtg today was 681 coins. 681.
Topic: Nobody takes bitcoin seriously: rises 10x in month drops 50% in 10 days? I do. - page 2. (Read 4197 times)
June 05, 2011, 09:27:59 PM
June 05, 2011, 09:26:40 PM
The problem is people are hoarding coins.
The TOTAL volume at mtg today was 681 coins. 681.
There are over 6.4M coins in the market (not counting lost coins).
Because the prices are rising, people are holding them. Unfortunately, that means if you want to get bitcoins, you have to pay a premium, because they aren't circulating. No one is USING them.
Silk Road isn't the problem (though a Tor accessible website as the only place to really USE coins doesn't give the soccer mom a warm fuzzy).
If you want the economy to thrive, then sell and/or trade some of the coins you're holding on to.
Guess what will happen eventually? No one will WANT the coins, because they couldn't get any. Guess how much the coins you're hoarding will be worth when no one want them?
The TOTAL volume at mtg today was 681 coins. 681.
There are over 6.4M coins in the market (not counting lost coins).
Because the prices are rising, people are holding them. Unfortunately, that means if you want to get bitcoins, you have to pay a premium, because they aren't circulating. No one is USING them.
Silk Road isn't the problem (though a Tor accessible website as the only place to really USE coins doesn't give the soccer mom a warm fuzzy).
If you want the economy to thrive, then sell and/or trade some of the coins you're holding on to.
Guess what will happen eventually? No one will WANT the coins, because they couldn't get any. Guess how much the coins you're hoarding will be worth when no one want them?
Reminds me of the Yogi Berra quote "Nobody goes to that restaurant, its too crowded"
Prices are rising to flush out the hoarders. Where do you get 681 coins? I see volume of 21,000+ at mtgox according to the ticker. Is there a volume number I don't see?
June 05, 2011, 09:20:43 PM
I have a feeling that any future exchange needs to be in Tor hidden service.
June 05, 2011, 09:10:27 PM
The problem is people are hoarding coins.
The TOTAL volume at mtg today was 681 coins. 681.
There are over 6.4M coins in the market (not counting lost coins).
Because the prices are rising, people are holding them. Unfortunately, that means if you want to get bitcoins, you have to pay a premium, because they aren't circulating. No one is USING them.
Silk Road isn't the problem (though a Tor accessible website as the only place to really USE coins doesn't give the soccer mom a warm fuzzy).
If you want the economy to thrive, then sell and/or trade some of the coins you're holding on to.
Guess what will happen eventually? No one will WANT the coins, because they couldn't get any. Guess how much the coins you're hoarding will be worth when no one want them?
The TOTAL volume at mtg today was 681 coins. 681.
There are over 6.4M coins in the market (not counting lost coins).
Because the prices are rising, people are holding them. Unfortunately, that means if you want to get bitcoins, you have to pay a premium, because they aren't circulating. No one is USING them.
Silk Road isn't the problem (though a Tor accessible website as the only place to really USE coins doesn't give the soccer mom a warm fuzzy).
If you want the economy to thrive, then sell and/or trade some of the coins you're holding on to.
Guess what will happen eventually? No one will WANT the coins, because they couldn't get any. Guess how much the coins you're hoarding will be worth when no one want them?
June 05, 2011, 08:26:17 PM
Bitcoin is behaving exactly as it should. Everyone is beginning to feel the heel in their backs.
We are failing. Not bitcoin. There's the problem.
As a result, I'm loaning my bitcoins to traders and miners with good ratings and turning to coding enough trend quaking software to justify the market cap. And I'm not the best. All I have is sheer fury.
So there it is. As long as the value goes up, we should be covering the gains by being able to reap what we sow. If I have to do it all by myself so be it. But I know everybody from cuddlefish to Xenland are also putting in the hours.
My motto is if Silk Road is full of Mafia Wars wannabes then an invasion by soccer moms should do the trick. In fact, I'd say what makes Silk Road vulnerable is the limitation of categories of products. Of course some self-hating conflationary minds would rather have nothing to do with it while hating the fact that it is what it is.
We ain't started yet, gentlemen.
We are failing. Not bitcoin. There's the problem.
As a result, I'm loaning my bitcoins to traders and miners with good ratings and turning to coding enough trend quaking software to justify the market cap. And I'm not the best. All I have is sheer fury.
So there it is. As long as the value goes up, we should be covering the gains by being able to reap what we sow. If I have to do it all by myself so be it. But I know everybody from cuddlefish to Xenland are also putting in the hours.
My motto is if Silk Road is full of Mafia Wars wannabes then an invasion by soccer moms should do the trick. In fact, I'd say what makes Silk Road vulnerable is the limitation of categories of products. Of course some self-hating conflationary minds would rather have nothing to do with it while hating the fact that it is what it is.
We ain't started yet, gentlemen.
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