Retracted previous statements :) - page 7.

Arghhh

full member

Activity: 182

Merit: 100

Quote from: frienemy on April 06, 2014, 03:42:37 AM

Quote from: Arghhh on April 06, 2014, 03:35:52 AM

I think you, cosmofly, and fonzi should talk over beer at the Barking Bear, the trip will be provided by my early stash of HODL n' win coins.

The Barking Bear...isn't that the place with this huge suicide terrace on the top floor?

Correct. Here's the terrace:

Protip: Death by impalement

frienemy

full member

Activity: 235

Merit: 100

I was promised da moon

Quote from: Arghhh on April 06, 2014, 03:35:52 AM

I think you, cosmofly, and fonzi should talk over beer at the Barking Bear, the trip will be provided by my early stash of HODL n' win coins.

The Barking Bear...isn't that the place with this huge suicide terrace on the top floor?

Hyena

legendary

Activity: 2114

Merit: 1015

Quote from: iluvpie60 on April 05, 2014, 07:08:07 PM

Quote from: Hyena on April 05, 2014, 05:58:25 PM

Bitcoin will never go to the moon again because we already did that. Mars is next, stupid OP.

Yeah? Pics or it didn't happen.

#idiot

OP you're an obvious noob in this forum and in the bitcoin world. I was here long before you and all the oldfags know that Bitcoin already got to the moon. DONE. Now, let's speak about Mars.

Arghhh

full member

Activity: 182

Merit: 100

Quote from: iluvpie60 on April 05, 2014, 10:56:34 AM

Personally, I lost all of my BTC, originally had 5 BTC, turned it into 7 BTC, lost some on a bad trade, lost 45% of my BTC on Cex.io adding "futures options", which I had no idea they were doing(my fault I know). Then I accidentally did a max bet on Just dice and lost most of it, got like .2 BTC left right, then coinex gets hacked rofl... so im down to abotu .05 BTC total.

sooo... you lost pretty much all your bitcoins by your own stupidity... and now you're in a frantic loop justifying why bitcoin will never go big again by spreading FUD?

Why on earth would anyone pay you to be a planning and forecasting analyst?

I think you, cosmofly, and fonzi should talk over beer at the Barking Bear, the trip will be provided by my early stash of HODL n' win coins.

Notice that the people spreading the most FUD are often the ones who jumped off the train early.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Quote from: sidhujag on April 06, 2014, 12:47:59 AM

We are early adopters.. All that stuff can happen with insurers stepping up making the markets. Refunds instant transactions etc are all possible.

Virtually anything is possible!

sidhujag

legendary

Activity: 2044

Merit: 1005

We are early adopters.. All that stuff can happen with insurers stepping up making the markets. Refunds instant transactions etc are all possible.

Beans

hero member

Activity: 518

Merit: 500

master-P

hero member

Activity: 868

Merit: 1001

https://keybase.io/masterp FREE Escrow Service

Quote from: Bit_Happy on April 05, 2014, 11:11:01 PM

Fail.
Your post is not balanced.
If you rewrite with this in the first paragraph then it will be better and more people will read it:
Denmark has declared you can trade BTC and pay no taxes on the profits.

ps. You do not need to use bold or blue. Cheesy

The most balanced approach would be to list both the good and bad points and make an analysis based on that.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

paratox

full member

Activity: 124

Merit: 100

Quote from: iluvpie60 on April 05, 2014, 08:23:34 PM

Quote from: paratox on April 05, 2014, 07:46:22 PM

Quote from: iluvpie60 on April 05, 2014, 10:56:34 AM

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

Before I take my time to write out an answer to your statement, I would like to know why you think that limited supply doesn't mean anything? Care to explain your thought in detail?

Limited supply means something only IF it MEANS SOMETHING to others.

I got a used tissue I just blew my nose, and my load into. Very limited supply on that these days, most of them get thrown away! I am being an ass here lol. Couldn't resist.

The difference is, your load is only of practical use for a small part of population if at all. Limited supply of something that is useful for a large part of population is definitely meaningful.

It seems you jump to the conclusion that demand is dropping, just because the bitcoin price is in a short/mid-term downtrend.

Demand (interest) is not as transparent as you seem to believe. How do you know that there aren't people waiting on the sidelines? Personally I know a few people who just learned about bitcoin during the last bubble but are intelligent enough to wait for a good moment to buy in.

dragonseer

hero member

Activity: 611

Merit: 500

Anglo Saxon Crypto Enthusiast

g4c

member

Activity: 98

Merit: 10

Quote from: iluvpie60 on April 05, 2014, 08:17:56 PM

Me, being a Forecasting and Planning Analyst(actual job title) can tell you right now, the basic first rule of planning and forecasting is not to take historic data and say "this must be what will happen".

I would only ever write things like "this may be what will happen".

Historic data is very valuable in attempts at prediction, it being the ONLY data available.

Quote from: iluvpie60 on April 05, 2014, 08:17:56 PM

See, you aren't looking at all of the bad things going on lately, and you aren't taking in all of the factors.

Yes I am. and they are very similar to the events surrounding all previous bubbles.

Quote from: iluvpie60 on April 05, 2014, 08:17:56 PM

You are just saying this is a tech thing, its gonna blow up, blah blah.

Price has remained within a logarithmic growth channel.

Quote from: iluvpie60 on April 05, 2014, 08:17:56 PM

There isn't really anything that exists to make it easier to obtain BTC. Unless there is a direct point to using BTC for the average person, which there currently aren't many for, they won't care.

Recently bitcoin ATM machines are going out with quite aggressive placement strategies.

The worlds a big place.

Quote from: iluvpie60 on April 05, 2014, 08:17:56 PM

I am more than an average user when it comes to Tech stuff, growing up programming 3 hours a day for my "shop class" in high school. 3 hours a day * 5 days a week * school year days * 4 years is how much programming experience I had at a very young age. Believe you me, I know what I am talking about.

I like coding too, my latest project is a virtual reality casino: http://www.game4coins.com/

Quote from: iluvpie60 on April 05, 2014, 08:17:56 PM

BTC isn't really going anywhere fast.

It has come a long way very fast.

But if you don't have the stomach for it then by all means sell now.

master-P

hero member

Activity: 868

Merit: 1001

https://keybase.io/masterp FREE Escrow Service

Quote from: iluvpie60 on April 05, 2014, 08:20:21 PM

You don't know who your BTC is going to when you are buying and selling on exchange. They can easily get the majority it from exchanges over time without telling anyone. The Bitcoin protocol can indeed be changed to create infinite Bitcoins if Gavin and the team choose to do so.

Sure the BTC devs can change the protocol to create infinite BTC, but they won't be able to force people to adopt such an update. Bitcoin is open source and I'm sure other programmers delicately scrutinize any updates. You're correct that anyone can buy BTC on the exchanges, but it's not a suitable medium to purchase large enough quantities to make you a majority holder. Prices would go up as they buy essentially creating another bubble. Even if the banks came to own most of the existing BTC, they would be at a huge risk because people could abandon it for another crypto, essentially making them bagholders.

iluvpie60

hero member

Activity: 700

Merit: 500

Quote from: g4c on April 05, 2014, 07:45:09 PM

Quote from: coinnewbit on April 05, 2014, 07:44:19 PM

hey iluvpie60 why do you still have a signature begging ppl to contribute btc to you then?

Yeah, you should change it to a paypal address. Cheesy

lol I should. That would seriously be the best thing ever, people would flame me forever if I did that.

iluvpie60

hero member

Activity: 700

Merit: 500

Quote from: paratox on April 05, 2014, 07:46:22 PM

Quote from: iluvpie60 on April 05, 2014, 10:56:34 AM

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

Before I take my time to write out an answer to your statement, I would like to know why you think that limited supply doesn't mean anything? Care to explain your thought in detail?

Limited supply means something only IF it MEANS SOMETHING to others.

I got a used tissue I just blew my nose, and my load into. Very limited supply on that these days, most of them get thrown away! I am being an ass here lol. Couldn't resist.

iluvpie60

hero member

Activity: 700

Merit: 500

Quote from: coinnewbit on April 05, 2014, 07:44:19 PM

hey iluvpie60 why do you still have a signature begging ppl to contribute btc to you then?

This is funny. OK let me break it down for you.

My sig says "Cool Contribution bro, contribute again". So when you contribute BTC to my address I receive the BTC ok... Now then, I can spend the contributions once I have them.

You new here?

iluvpie60

hero member

Activity: 700

Merit: 500

Quote from: master-P on April 05, 2014, 08:13:10 PM

When I look at BTC I see innovation. I see a technology that allows me to be my own bank instead of making crooked banks wealthier. Take a look at the top 6 profitable public companies in Canada:

1 Royal Bank of Canada
2 Bank of Nova Scotia
3 Toronto-Dominion Bank
4 Bank of Montreal
5 Imperial Oil
6 Canadian Imperial Bank of Congress

*source: http://en.wikipedia.org/wiki/List_of_largest_public_companies_in_Canada_by_profit

Notice that 5 of them are banks. I'm sure the pattern is similar for many other countries. It's not really surprising, given that they make money out of nothing basically. You mentioned that eventually the banks will take over BTC. They would have to buy them off of us to get them. Banks wouldn't be able to operate like they are right now using BTC unless they built an additional centralized layer on top of it. The blockchain is an open ledger that anyone can access, so they can't create endless BTC like they can do with fiat.

I realize that the days of throwing a few hundred dollars into BTC and becoming rich are over, but there's still a lot of room for growth and improvement.

You don't know who your BTC is going to when you are buying and selling on exchange. They can easily get the majority it from exchanges over time without telling anyone. The Bitcoin protocol can indeed be changed to create infinite Bitcoins if Gavin and the team choose to do so.

iluvpie60

hero member

Activity: 700

Merit: 500

Quote from: g4c on April 05, 2014, 07:29:05 PM

Quote from: iluvpie60 on April 05, 2014, 07:14:05 PM

Quote from: TERA on April 05, 2014, 04:58:08 PM

This forum is a bad place to post a bearish thread. It's all permabulls and they're going to come up with any argument just to slaughter you. It's like you're inside of a rodeo.

I do understand that, yeah. It does suck that people who believe in something never want to hear the other side of it, or don't want to understand what they believe in. Sometimes I feel like most of the people on this entire website are all about "OMFG ITS CRASHING SELL NOW AND GET BACK IN WHEN IT DIPS BY 20%" OR "OMFG BUY NOW ITS RISING, MOON MOON MOON OMFG ITS THE BEST MOON YOU EVER SAW, THE MOON IS SO BRIGHT TONIGHT AND FULL OMFG BEST MOON EVERRRRRRRRRR".

I post here though to see if someone really has a counter point to what I said, a few people made interesting notes, but when I look at how things are in the real world and other companies and take everything into consideration, I don't see BTC going much of anywhere.

Avg poor people will not use this, it is too complicated for them. People who don't trust BTC don't trust it because they didn't take the time to get to know it. Not many average people get into something where you need to learn all the terms, look up the history of it, how it was made, open source code, blah. People don't openly trust BTC right away. Giving anyone a 30 minute definition of something doesn't mean they will trust it, and if it takes too long to explain in my experience, people don't wanna hear it. There aren't as many smart people in this world as you might think, and a lot of presuppositions hold people back all the time.

In reply to bolded part:

These "average poor people" need not worry their average minds.

Consider:

Back in the day only a few geeks had computers, you basically had to get out a soldering iron and build your own out of mail order kits or go without. Some enthusiasts offered prebuilt units, but still you had to be quite the nerd to actually do anything with them, there were no operating systems to speak of, just simple bios layer. Enthusiasts met at weekly local meetups (no internet then).

Everyone else said, these things are fun for geeks but nobody else, haha look at the geeks, those thing will never take off.

Now every dropkick carries a 1GHz processor in their pocket.

The same happened with the internet, first attempts were radio amateurs running packet radio systems at low baud rates and then bulletin boards ran by uber-geeks using phone system; other geeks would all post and read to their node like a simple forum. Then came the internet.

Bitcoin is in its early days, but follows the same exponential growth as other technogy, you've got to plot it on a log scale to see it:

OK this is FUD.

Me, being a Forecasting and Planning Analyst(actual job title) can tell you right now, the basic first rule of planning and forecasting is not to take historic data and say "this must be what will happen".

See, you aren't looking at all of the bad things going on lately, and you aren't taking in all of the factors. You are just saying this is a tech thing, its gonna blow up, blah blah.

There isn't really anything that exists to make it easier to obtain BTC. Unless there is a direct point to using BTC for the average person, which there currently aren't many for, they won't care.

I am more than an average user when it comes to Tech stuff, growing up programming 3 hours a day for my "shop class" in high school. 3 hours a day * 5 days a week * school year days * 4 years is how much programming experience I had at a very young age. Believe you me, I know what I am talking about. BTC isn't really going anywhere fast.

master-P

hero member

Activity: 868

Merit: 1001

https://keybase.io/masterp FREE Escrow Service

When I look at BTC I see innovation. I see a technology that allows me to be my own bank instead of making crooked banks wealthier. Take a look at the top 6 profitable public companies in Canada:

1 Royal Bank of Canada
2 Bank of Nova Scotia
3 Toronto-Dominion Bank
4 Bank of Montreal
5 Imperial Oil
6 Canadian Imperial Bank of Congress

*source: http://en.wikipedia.org/wiki/List_of_largest_public_companies_in_Canada_by_profit

Notice that 5 of them are banks. I'm sure the pattern is similar for many other countries. It's not really surprising, given that they make money out of nothing basically. You mentioned that eventually the banks will take over BTC. They would have to buy them off of us to get them. Banks wouldn't be able to operate like they are right now using BTC unless they built an additional centralized layer on top of it. The blockchain is an open ledger that anyone can access, so they can't create endless BTC like they can do with fiat.

I realize that the days of throwing a few hundred dollars into BTC and becoming rich are over, but there's still a lot of room for growth and improvement.

paratox

full member

Activity: 124

Merit: 100

Quote from: iluvpie60 on April 05, 2014, 10:56:34 AM

Just because there is a limited supply doesn't mean anything, the demand also comes in somewhere no? Look at the demand right now, price dropped from a high of I dunno 1,135 USD something(not MTGOX inflated prices) now it is at 445 USD. A lot of people got invested into this when it was going up in price, ever wonder why you only see 3,000 people signed on BTC-E anymore and not 15,000 like they were getting? Demand is dropping, supply doesn't matter if no one wants it.

Before I take my time to write out an answer to your statement, I would like to know why you think that limited supply doesn't mean anything? Care to explain your thought in detail?

Topic: Retracted previous statements :) - page 7. (Read 13143 times)