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Topic: Stop your BTC cheerleading and mass delusion and face the reality - page 3. (Read 10175 times)

newbie
Activity: 17
Merit: 0
Imagine if you will, a troll who spams bitcoin threads to promote his new alt coin  Roll Eyes

Imagine, if you will, a forum with actual intelligent discussion - instead of endless spam variations of "you're a troll!".
sr. member
Activity: 378
Merit: 250
Stop your bitching because you're doing the same except for having the opposite opinion.
hero member
Activity: 770
Merit: 629
People, you need a reality check. Most of you here are holding to a few BTC expecting to become millionaires some day. You are in a collective mass delusion - about 95% of you here.

Satoshi Nakamoto stated himself that with BTC there will be no middle way - it will absord the whole world's economy which is estimated to be around $100 trillion including the black markets. If this does not happen BTC will be literally worthless - not even half a cent that it started at.

The question of whether a new "universal" money will necessarily absorb everything, or will share its market with competitors, is an open one.  There are arguments that go in the direction of a monopoly, but there are also arguments in the sense of a competitive market of different kinds of money (gold, fiat, altcoins, ...).

Nevertheless, I think you have the time scales wrong.  It will probably take decades, if not centuries, to achieve the full conversion from the current fiat system to something else like bitcoin.  It took more than a century to switch fully from gold to fiat (started out in the 19th century, where fiat was fully covered by gold and silver, and ended with the official release of any reference to gold with Nixon). 

Even the bitcoin protocol wouldn't allow one to switch fully to bitcoin without an ecological disaster in the first 20 years or so, because the mining incentive would use up too much ressources (mainly energy and hardware).

Bitcoin is not just a technology such as the internet or the mobile phone.  Money is much deeper rooted in society, and its adoption will be VERY LONG.   So you cannot say anything about bitcoin's success before at least several decades.

I don't know how Satoshi saw that, but the fact that the inflation of bitcoin is programmed over 130 years, gives you an idea of the sort of time scale he had in mind.    I wouldn't expect any monetary adoption to the mainstream before several decades.

legendary
Activity: 1260
Merit: 1116
Desperate how? You are following me around like I'm your mommy! Do you really need attention that bad? I am acknowledging you and your endless contradictory posts  Kiss

You spam this forum like it's going out of style, brah Wink
newbie
Activity: 17
Merit: 0
Well the idea idea of cryptocurrency is here to stay.
Cryptocurrency is very convinient and secure.
The question is will it bitcoin?
I think the answer is yes because businesses like overstock.com and microsoft have already started accepting it and they probably don't feel like the minor changes other crypto currencies offer are worth the hassle of switching.

Accepting it is one thing, actually holding it in their cash reserves is another.

In most cases 'Accepting' just seems to mean autoconverting to dollars with bitpay - except for overstock which is actually claiming to hold some - are there any others?
full member
Activity: 140
Merit: 100
Well the idea idea of cryptocurrency is here to stay.
Cryptocurrency is very convinient and secure.
The question is will it bitcoin?
I think the answer is yes because businesses like overstock.com and microsoft have already started accepting it and they probably don't feel like the minor changes other crypto currencies offer are worth the hassle of switching.
full member
Activity: 126
Merit: 100
Desperate how? You are following me around like I'm your mommy! Do you really need attention that bad? I am acknowledging you and your endless contradictory posts  Kiss
legendary
Activity: 1260
Merit: 1116
It's because this: you're starting to sound desperate  Roll Eyes
full member
Activity: 126
Merit: 100


lastly if anyone is shouting that bitcoin is dead and will only be worth 1cent soon. how about you sell me 1bitcoin for 1c now and put your money where your mouth is. i dare you to sell me 1000 bitcoins for $10. until you are willing to do such a thing, your points are meaningless.

This post made me LOL.  I'm bullish on Bitcoin but why in the world would someone sell you something for 0.01$ if they can sell it for 330$??

That statement makes no sense.

This is the kind of reasoning bitcoin bulls use... what can you do, they see BTC is not even holding 345, but they will buy the "dip" all weekend

I thought you were one of them now Wink

https://bitcointalksearch.org/topic/m.9902906

wow way to quote this thread way before I called the bottom on this fall & a new bounce coming just like I called the last one to $485~
I am talking about not holding 345 in the post, we didn't, that's why I have been buying on leverage averaging $317~ & of course I wish I could have grabbed plenty more coins at 300 but I didn't! Nobody calls anything PERFECTLY and I am all in already. You can't quote one post I made that was wrong, that's guaranteed. So keep up the pointless quotes... ANYWAY, Waiting for the bounce that is already well calculated & will happen. Good luck to all, you have been warned
legendary
Activity: 1260
Merit: 1116

Those smart enough know that the only real purpose of BTC right now is as a vehicle for transaction of fiat money, without being exposed to the scrutiny of the government checks and the global banking system, they understand that bitcoin is not a commodity, not a store of value, and it never was - to them it doesn't matter if the price of one BTC is $1 or $100,000. It doesn't change anything.


Spot on, Sam!
legendary
Activity: 1260
Merit: 1116


lastly if anyone is shouting that bitcoin is dead and will only be worth 1cent soon. how about you sell me 1bitcoin for 1c now and put your money where your mouth is. i dare you to sell me 1000 bitcoins for $10. until you are willing to do such a thing, your points are meaningless.

This post made me LOL.  I'm bullish on Bitcoin but why in the world would someone sell you something for 0.01$ if they can sell it for 330$??

That statement makes no sense.

This is the kind of reasoning bitcoin bulls use... what can you do, they see BTC is not even holding 345, but they will buy the "dip" all weekend

I thought you were one of them now Wink

https://bitcointalksearch.org/topic/m.9902906
hero member
Activity: 560
Merit: 500
Imagine if you will, a troll who spams bitcoin threads to promote his new alt coin  Roll Eyes
newbie
Activity: 17
Merit: 0

http://unqualified-reservations.blogspot.com/2011/04/on-monetary-restandardization.html


So yes Bitcoin is mostly a speculation. It doesn't have the features to do a "coup" as Moldbug says.

And the blackswan is could anyone create an altcoin that could do that "coup"?


Moldbug is at least partially correct, currency domination is coup-complete.

So, let us imagine - what would a real coup look like?  Firstly, it would be something created specifically for that goal - designed to destroy the current world order and rebuild it.  Secondly, it needs a decisive strategic advantage: an edge so overwhelming that it can takeover the world, without even requiring largescale adoption from everday folks.

What is the real source of power?  This isn't a trick question.  It is intelligence itself - that is the ultimate source of all power, all technology, and all value.

Bitcoin will not conquer the world because its Proof of Work distribution strategy consumes precious economic investment and outputs waste heat.  It is maximally unintelligent - pure entropy.

Imagine for a moment an alternate world where instead of Bitcoin we had a more optimal cryptocurrency appear at the same time.  Imagine - for sake of argument - that this alternate design was perfectly efficient and scalable, such that trillions of transactions per second are possible and double-spending is solved effortlessly without requiring proof-of-work.  Naturally this presents another potential problem (at least when viewed from within the narrow perspective of Bitcoin fundamentalism) or rather an opportunity - how should the coins be distributed?

The optimal distribution is simply that which maximizes the long term value of the coin.

Intelligence is the generator of all value, so the optimal distribution algorithm would be one that spends every coin in such a way as to maximally increase the intelligence of the network at every step. 

Instead of a huge supercomputer doing pointless hashes, you have a huge supercomputer doing AI research: deep learning, global optimization, etc.  And the end outcome is the generation of a new virtual world, economy, and distributed government of superintelligent agents.  Imagine tech similar to SIRI of today evolving towards something like Samantha from the movie Her  - and then beyond - all enabled by a distributed cryptographic economy, and of course, a new cryptocurrency. 

The coup is simply - the Singularity.

This project actually exists, and is just beginning.
full member
Activity: 126
Merit: 100


lastly if anyone is shouting that bitcoin is dead and will only be worth 1cent soon. how about you sell me 1bitcoin for 1c now and put your money where your mouth is. i dare you to sell me 1000 bitcoins for $10. until you are willing to do such a thing, your points are meaningless.

This post made me LOL.  I'm bullish on Bitcoin but why in the world would someone sell you something for 0.01$ if they can sell it for 330$??

That statement makes no sense.

This is the kind of reasoning bitcoin bulls use... what can you do, they see BTC is not even holding 345, but they will buy the "dip" all weekend
member
Activity: 112
Merit: 10
This is what they do to they when you confront the powers that be:

https://bitcointalksearch.org/topic/beware-of-raveldonisamtseudo-890205

They discredit you, defame you, insult you and destroy you.

Watch out people.
sr. member
Activity: 252
Merit: 250


I don't have to pay 50$ coke never ever anymore!!!! Smiley

legendary
Activity: 1456
Merit: 1000


lastly if anyone is shouting that bitcoin is dead and will only be worth 1cent soon. how about you sell me 1bitcoin for 1c now and put your money where your mouth is. i dare you to sell me 1000 bitcoins for $10. until you are willing to do such a thing, your points are meaningless.

This post made me LOL.  I'm bullish on Bitcoin but why in the world would someone sell you something for 0.01$ if they can sell it for 330$??

That statement makes no sense.
legendary
Activity: 3512
Merit: 4557
hero member
Activity: 1666
Merit: 565
hero member
Activity: 742
Merit: 500
point 2-5 are very valid use cases for bitcoin. your arguments are may be reasonable for certain countries - but never on global scale.

Never huh?

Like all those who said silver would never fall again below $17. Like all those who said Bitcoin wouldn't fall from $1000 to $350. Yeah I was predicting all those in public, I even publicly predicted the $48 top for silver 1 year before it occurred.

Sorry you are just hot air. I have an analysis record which speaks loud and clear.

Look we all try to classify bitcoin and it is definetely reasonable to use certain elements of precious metal markets - however the biggest difference with bitcoin is that is intangible, completely divisible and easy to transport.

You are analysis regarding bitcoins future development is build on several worst-case-assumptions (world wide quasi dictatorship, fungibility crisis etc. pp) - we all do not know if this will or will not happen in the future, but I assume, given that we have over 200 jurisdictions in the world, it is not likely.

however regarding personal insults - I am sorry using the word horrible, it was inappropiate. The better word for your economic analysis is radical.
   
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