Topic: rpietila Calling the Bottom - page 5. (Read 45360 times)
64-65, 2016 will be the bottom IMO.
Oh Jorge....this sort of stuff is the equivalent of drawing a cartoon of Muhammad with coke and hookers.
That's way too low even for Jorge. He's often wrong but he can't be that dumb. You need hard work to equal such level of obnoxious stupidity.
What possible reason will there be for no more speculation or hoarding in a currency that is designed specifically for that?
The white paper does not mention that, does it? The declared purpose of bitcoin was to be a currency for e-payments, not a get-rich-by-sittng-on-it instrument. Given that goal, making the supply fixed probably was a mistake, as economists keep saying (after all, "Satoshi" was a computer scientist, not an economist.)
Besides perhaps the mistaken notion that the inflation of national currencies is a bad thing, the fixed money supply is something that a computer scientist would have chosen for ease of implementation. An unbounded money supply would have been a pain to program; he could not have used a fixed block and transition layout with 64-bit long ints, he would have needed a variable-length multiword integer, in the layout and in the implementation.
That is only one of many details in the protocol that suggest that it was never meant to be more than a computer experiment. Take, for example, the abrupt halving of the reward every 4 years: it is a source of instability and uncertainty, the 2016 halving is already having people worried now. Why didn't he specify a more gradual decrease, that would give the same 0.5 factor in 4 years but in small monthly steps? The only reason I can think of is that it would have required another page or two of source code, and a table of 48 steps, properly rounded, and another paragraph in the white paper...
Oh Jorge....this sort of stuff is the equivalent of drawing a cartoon of Muhammad with coke and hookers: criticising Satoshi will have the cultists calling Fatwah on you
"All hail Satoshi"
... Take, for example, the abrupt halving of the reward every 4 years: it is a source of instability and uncertainty, the 2016 halving is already having people worried now. Why didn't he specify a more gradual decrease, that would give the same 0.5 factor in 4 years but in small monthly steps? The only reason I can think of is that it would have required another page or two of source code, and a table of 48 steps, properly rounded, and another paragraph in the white paper...
Actually thought same myself, not kidding.
What possible reason will there be for no more speculation or hoarding in a currency that is designed specifically for that?
The white paper does not mention that, does it? The declared purpose of bitcoin was to be a currency for e-payments, not a get-rich-by-sittng-on-it instrument. Given that goal, making the supply fixed probably was a mistake, as economists keep saying (after all, "Satoshi" was a computer scientist, not an economist.)
Besides perhaps the mistaken notion that the inflation of national currencies is a bad thing, the fixed money supply is something that a computer scientist would have chosen for ease of implementation. An unbounded money supply would have been a pain to program; he could not have used a fixed block and transition layout with 64-bit long ints, he would have needed a variable-length multiword integer, in the layout and in the implementation.
That is only one of many details in the protocol that suggest that it was never meant to be more than a computer experiment. Take, for example, the abrupt halving of the reward every 4 years: it is a source of instability and uncertainty, the 2016 halving is already having people worried now. Why didn't he specify a more gradual decrease, that would give the same 0.5 factor in 4 years but in small monthly steps? The only reason I can think of is that it would have required another page or two of source code, and a table of 48 steps, properly rounded, and another paragraph in the white paper...
I haven't changed my mind, nor my actions.
Agreed, nothing has changed, we've been here before, this time we at $200 and not $2. People think its over
The blatant fact that bitcoin CAN fail has never occured to you?
You seem to be a desperate person, you change your sentiment 20 times a day, and the fact that you seek comfort in this forum about your shitty investment is just worrying.
I've never changed sentiment. I'm only rational unlike many people here
I don't think it will but so many people here seem to think bitcoin is unstoppable and will succeed.
It's far from guaranteed so I don't know why you're questioning me. Maybe you're a genius and have already taken as many loans as you can though? I mean, why wouldn't you if it's guaranteed to succeed?
I haven't changed my mind, nor my actions.
Agreed, nothing has changed, we've been here before, this time we at $200 and not $2. People think its over
The blatant fact that bitcoin CAN fail has never occured to you?
You seem to be a desperate person, you change your sentiment 20 times a day, and the fact that you seek comfort in this forum about your shitty investment is just worrying.
I've never changed sentiment. I'm only rational unlike many people here
I haven't changed my mind, nor my actions.
Agreed, nothing has changed, we've been here before, this time we at $200 and not $2. People think its over
The blatant fact that bitcoin CAN fail has never occured to you?
You seem to be a desperate person, you change your sentiment 20 times a day, and the fact that you seek comfort in this forum about your shitty investment is just worrying.
I've never changed sentiment. I'm only rational unlike many people here
I haven't changed my mind, nor my actions.
Agreed, nothing has changed, we've been here before, this time we at $200 and not $2. People think its over
The blatant fact that bitcoin CAN fail has never occured to you?
You seem to be a desperate person, you change your sentiment 20 times a day, and the fact that you seek comfort in this forum about your shitty investment is just worrying.
I haven't changed my mind, nor my actions.
Agreed, nothing has changed, we've been here before, this time we at $200 and not $2. People think its over
The blatant fact that bitcoin CAN fail has never occured to you?
Rpietila promised me $10k coin by last Christmas. Are we still on track?
I haven't changed my mind, nor my actions.
Agreed, nothing has changed, we've been here before, this time we at $200 and not $2. People think its over
Smothie, at this point I thought you would already have some wisdom, the possibility of hitting lower double digits is really huge, and the bubble cycle has just came to an end, after we hit a bottom, Bitcoin will become mature and will experience slow growth, people will start using it as they suppose to, instead of hoarding the shit of it, which will bring huge liquidity that will keep the price really kind of stable.
It may take years to get to what we were at before.
The problem with that of course, is that it is complete baloney. What possible reason will there be for no more speculation or hoarding in a currency that is designed specifically for that?
Well, I could try explaining it for 100th time, but the fact that you are asking me "again" means that no one gives a fuck about what I was trying to express for almost a year now... so my only response is " time will tell my friend".
Smothie, at this point I thought you would already have some wisdom, the possibility of hitting lower double digits is really huge, and the bubble cycle has just came to an end, after we hit a bottom, Bitcoin will become mature and will experience slow growth, people will start using it as they suppose to, instead of hoarding the shit of it, which will bring huge liquidity that will keep the price really kind of stable.
It may take years to get to what we were at before.
The problem with that of course, is that it is complete baloney. What possible reason will there be for no more speculation or hoarding in a currency that is designed specifically for that?
hahaha this retarded bull-idiots bitcoin worshippers
Your coin is an inflationary MESS and will never see a new ATH
It's not half as advanced as most alts. It's image is tarnished. Get out now people!
You have been falling for the hype of these bulltards people and handed your money to them. But they are all full of shit and will continue to tell you to buy their shit from them.
Your coin is an inflationary MESS and will never see a new ATH
It's not half as advanced as most alts. It's image is tarnished. Get out now people!
You have been falling for the hype of these bulltards people and handed your money to them. But they are all full of shit and will continue to tell you to buy their shit from them.
1. "will never see a new ATH" has been claimed in so many other instances prior to 2013... lol
2. Since when does bitcoin need to be "advanced" to be successful? The bitcoin protocol is secure.
"THE BITCOIN PROTOCOL IS SECURE. GET OUT NOW PEOPLE!" lol
3. You forget that everyone gets price predictions wrong from time to time, even me. Trust me buddy you will be proven wrong as well.
Just wait...
Smothie, at this point I thought you would already have some wisdom, the possibility of hitting lower double digits is really huge, and the bubble cycle has just came to an end, after we hit a bottom, Bitcoin will become mature and will experience slow growth, people will start using it as they suppose to, instead of hoarding the shit of it, which will bring huge liquidity that will keep the price really kind of stable.
It may take years to get to what we were at before.
I haven't changed my mind, nor my actions.
Wouldn't you believe that it would be better to give more specific updates.
For example, I am largely doing the same thing, which is holding and continuing to buy, and even experiencing other kinds of adjustments and rethinking... NONETHELESS, i remain confident that it is good to continue to buy and accumulate.
However, my thinking may be different if I had begun buying BTC at a lower price (and my BTC portfolio were in the black) or if I had accumulated thousands of BTC.
Also, I remain hesitant to sell; however, if I were certain that the price were going to go down at least 5 or 10%, then I would sell and rebuy.. but I am never that confident about the price going down and I believe at any time some big player can come in and reverse the direction to cause BTC prices to move upward at a fairly incredible speed.
+1
(Show me a person who has ever profited from a "strategy" of "buying back lower". Over as short a timeframe as 5 years, it's likely to underperform significantly to simple buy/hold good stuff.)
I haven't changed my mind, nor my actions.
Wouldn't you believe that it would be better to give more specific updates.
For example, I am largely doing the same thing, which is holding and continuing to buy, and even experiencing other kinds of adjustments and rethinking... NONETHELESS, i remain confident that it is good to continue to buy and accumulate.
However, my thinking may be different if I had begun buying BTC at a lower price (and my BTC portfolio were in the black) or if I had accumulated thousands of BTC.
Also, I remain hesitant to sell; however, if I were certain that the price were going to go down at least 5 or 10%, then I would sell and rebuy.. but I am never that confident about the price going down and I believe at any time some big player can come in and reverse the direction to cause BTC prices to move upward at a fairly incredible speed.
I haven't changed my mind, nor my actions.
hahaha this retarded bull-idiots bitcoin worshippers
Your coin is an inflationary MESS and will never see a new ATH
It's not half as advanced as most alts. It's image is tarnished. Get out now people!
You have been falling for the hype of these bulltards people and handed your money to them. But they are all full of shit and will continue to tell you to buy their shit from them.
Your coin is an inflationary MESS and will never see a new ATH
It's not half as advanced as most alts. It's image is tarnished. Get out now people!
You have been falling for the hype of these bulltards people and handed your money to them. But they are all full of shit and will continue to tell you to buy their shit from them.
1. "will never see a new ATH" has been claimed in so many other instances prior to 2013... lol
2. Since when does bitcoin need to be "advanced" to be successful? The bitcoin protocol is secure.
"THE BITCOIN PROTOCOL IS SECURE. GET OUT NOW PEOPLE!" lol
3. You forget that everyone gets price predictions wrong from time to time, even me. Trust me buddy you will be proven wrong as well.
Just wait...
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