Topic: The Bitcoin Armageddon - page 2. (Read 4439 times)

Quote from: VolanicEruptor on December 13, 2013, 10:38:35 PM

Quote

You are implying this with continued price increase despite the system being unsustainable.

no, I never implied this. You made the assumption yourself. The timeline is not black and white. It is a long, gradual process in which our resources are used up at an exponentially rapid rate. No big concepts to grab, pretty simple..

YES YOU DID.

Quote from: VolanicEruptor on December 13, 2013, 09:28:44 PM

people won't stop mining though if the bitcoin price keeps going up.

if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine

Why would the price keep going up, if the system is unstainable.

You are implying that market participants BUY DESPITE THE SYTEM BEING UNSUSTAINABLE.

Thus they must be STUPID.

You are implying that market participants ARE MORONS.

I would never imply that the market participants are morons. Not at all. We all want a piece of this wonderful boom.
The system does not "appear completely sustainable" one day, and not the next
it is rather a long and drawn out process. You just need to think outside the box a little.

Now you saying that a unsustainable system BOOMS is absurd.

Me no understand ur english. Come again?
This is not absurd, it is just simple acknowledgement that difficulty is going up faster than our resources can handle it.

The bolded part is you stating that Bitcoin is not SCALABLE.

You STATING THAT A SYSTEM THAT IS NOT SCALABLE WILL CONTINUE TO SCALE IS ABSURD.

MARKET PARTICIPANTS WOULD FIGURE OUT THAT THEY ARE RUNNING TOWARDS THE EDGE OF A CLIFF.

END OF DISCUSSION.

I've warned you to stop trying to convince him of actual facts.
This is what you get for feeding a troll.

porc

member

Activity: 98

Merit: 10

Quote from: VolanicEruptor on December 13, 2013, 10:54:24 PM

Quote from: porc on December 13, 2013, 10:52:24 PM

Quote from: VolanicEruptor on December 13, 2013, 10:47:15 PM

Quote from: VolanicEruptor on December 13, 2013, 10:38:35 PM

Quote

You are implying this with continued price increase despite the system being unsustainable.

no, I never implied this. You made the assumption yourself. The timeline is not black and white. It is a long, gradual process in which our resources are used up at an exponentially rapid rate. No big concepts to grab, pretty simple..

YES YOU DID.

Quote from: VolanicEruptor on December 13, 2013, 09:28:44 PM

people won't stop mining though if the bitcoin price keeps going up.

if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine

Why would the price keep going up, if the system is unstainable.

You are implying that market participants BUY DESPITE THE SYTEM BEING UNSUSTAINABLE.

Thus they must be STUPID.

You are implying that market participants ARE MORONS.

I would never imply that the market participants are morons. Not at all. We all want a piece of this wonderful boom.
The system does not "appear completely sustainable" one day, and not the next
it is rather a long and drawn out process. You just need to think outside the box a little.

Now you saying that a unsustainable system BOOMS is absurd.

Me no understand ur english. Come again?
This is not absurd, it is just simple acknowledgement that difficulty is going up faster than our resources can handle it.

The bolded part is you stating that Bitcoin is not SCALABLE.

You STATING THAT A SYSTEM THAT IS NOT SCALABLE WILL CONTINUE TO SCALE IS ABSURD.

MARKET PARTICIPANTS WOULD FIGURE OUT THAT THEY ARE RUNNING TOWARDS THE EDGE OF A CLIFF.

END OF DISCUSSION.

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: porc on December 13, 2013, 10:52:24 PM

Quote from: VolanicEruptor on December 13, 2013, 10:47:15 PM

Quote from: VolanicEruptor on December 13, 2013, 10:38:35 PM

Quote

You are implying this with continued price increase despite the system being unsustainable.

no, I never implied this. You made the assumption yourself. The timeline is not black and white. It is a long, gradual process in which our resources are used up at an exponentially rapid rate. No big concepts to grab, pretty simple..

YES YOU DID.

Quote from: VolanicEruptor on December 13, 2013, 09:28:44 PM

people won't stop mining though if the bitcoin price keeps going up.

if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine

Why would the price keep going up, if the system is unstainable.

You are implying that market participants BUY DESPITE THE SYTEM BEING UNSUSTAINABLE.

Thus they must be STUPID.

You are implying that market participants ARE MORONS.

I would never imply that the market participants are morons. Not at all. We all want a piece of this wonderful boom.
The system does not "appear completely sustainable" one day, and not the next
it is rather a long and drawn out process. You just need to think outside the box a little.

Now you saying that a unsustainable system BOOMS is absurd.

Me no understand ur english. Come again?
This is not absurd, it is just simple acknowledgement that difficulty is going up faster than our resources can handle it.

empoweoqwj

hero member

Activity: 518

Merit: 500

Popcorn time

porc

member

Activity: 98

Merit: 10

Quote from: VolanicEruptor on December 13, 2013, 10:47:15 PM

Quote from: VolanicEruptor on December 13, 2013, 10:38:35 PM

Quote

You are implying this with continued price increase despite the system being unsustainable.

no, I never implied this. You made the assumption yourself. The timeline is not black and white. It is a long, gradual process in which our resources are used up at an exponentially rapid rate. No big concepts to grab, pretty simple..

YES YOU DID.

Quote from: VolanicEruptor on December 13, 2013, 09:28:44 PM

people won't stop mining though if the bitcoin price keeps going up.

if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine

Why would the price keep going up, if the system is unstainable.

You are implying that market participants BUY DESPITE THE SYTEM BEING UNSUSTAINABLE.

Thus they must be STUPID.

You are implying that market participants ARE MORONS.

I would never imply that the market participants are morons. Not at all. We all want a piece of this wonderful boom.
The system does not "appear completely sustainable" one day, and not the next
it is rather a long and drawn out process. You just need to think outside the box a little.

Either it is sustainable or it is not.

If you are correct, and it is not sustainable, the price must collapse.

Now you saying that a unsustainable system BOOMS is absurd.

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: VolanicEruptor on December 13, 2013, 10:38:35 PM

Quote

You are implying this with continued price increase despite the system being unsustainable.

no, I never implied this. You made the assumption yourself. The timeline is not black and white. It is a long, gradual process in which our resources are used up at an exponentially rapid rate. No big concepts to grab, pretty simple..

YES YOU DID.

Quote from: VolanicEruptor on December 13, 2013, 09:28:44 PM

people won't stop mining though if the bitcoin price keeps going up.

if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine

Why would the price keep going up, if the system is unstainable.

You are implying that market participants BUY DESPITE THE SYTEM BEING UNSUSTAINABLE.

Thus they must be STUPID.

You are implying that market participants ARE MORONS.

I would never imply that the market participants are morons. Not at all. We all want a piece of this wonderful boom.
The system does not "appear completely sustainable" one day, and not the next
it is rather a long and drawn out process. You just need to think outside the box a little.

empoweoqwj

hero member

Activity: 518

Merit: 500

Quote from: stompix on December 13, 2013, 10:42:45 PM

Quote from: empoweoqwj on December 13, 2013, 10:39:35 PM

when's the last coin being mined? Think of all the energy surplus then ....

The all the plants will close down , lots of jobs lost , factories producing equipment closed down , BTC collapses , and we end up wondering , why the hell did we spend 100 years doing puzzles ? =))))))))))))

But by that time there will around 5 million altcoins that need feeding ..... now even I'm getting scared. I'd rather have power to my computer and TV than have it all sent to mining farms.

porc

member

Activity: 98

Merit: 10

Quote from: VolanicEruptor on December 13, 2013, 10:38:35 PM

Quote

You are implying this with continued price increase despite the system being unsustainable.

no, I never implied this. You made the assumption yourself. The timeline is not black and white. It is a long, gradual process in which our resources are used up at an exponentially rapid rate. No big concepts to grab, pretty simple..

YES YOU DID.

Quote from: VolanicEruptor on December 13, 2013, 09:28:44 PM

people won't stop mining though if the bitcoin price keeps going up.

if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine

Why would the price keep going up, if the system is unstainable.

You are implying that market participants BUY DESPITE THE SYTEM BEING UNSUSTAINABLE.

Thus they must be STUPID.

You are implying that market participants ARE MORONS.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: empoweoqwj on December 13, 2013, 10:39:35 PM

when's the last coin being mined? Think of all the energy surplus then ....

The all the plants will close down , lots of jobs lost , factories producing equipment closed down , BTC collapses , and we end up wondering , why the hell did we spend 100 years doing puzzles ? =))))))))))))

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: porc on December 13, 2013, 10:32:42 PM

Quote from: VolanicEruptor on December 13, 2013, 10:30:46 PM

this assumption: "So market participants dont understand exponential energy cost explosions??? Like sheep they would continue to bid the price up and run over the edge of a cliff. So you are saying you would be the only one wise enough to see, that the system is not sustainable."

it's just wrong because I never said that

You are implying this with continued price increase despite the system being unsustainable:

Quote from: VolanicEruptor on December 13, 2013, 09:28:44 PM

people won't stop mining though if the bitcoin price keeps going up.

if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine

At least , he still has some energy left to troll around.
I wouldn't bother with him anymore.

empoweoqwj

hero member

Activity: 518

Merit: 500

when's the last coin being mined? Think of all the energy surplus then ....

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote

You are implying this with continued price increase despite the system being unsustainable.

no, I never implied this. You made the assumption yourself. The timeline is not black and white. It is a long, gradual process in which our resources are used up at an exponentially rapid rate. No big concepts to grab, pretty simple..

porc

member

Activity: 98

Merit: 10

Quote from: VolanicEruptor on December 13, 2013, 10:30:46 PM

this assumption: "So market participants dont understand exponential energy cost explosions??? Like sheep they would continue to bid the price up and run over the edge of a cliff. So you are saying you would be the only one wise enough to see, that the system is not sustainable."

it's just wrong because I never said that

You are implying this with continued price increase despite the system being unsustainable:

Quote from: VolanicEruptor on December 13, 2013, 09:28:44 PM

people won't stop mining though if the bitcoin price keeps going up.

if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine

VolanicEruptor

sr. member

Activity: 392

Merit: 250

this assumption: "So market participants dont understand exponential energy cost explosions??? Like sheep they would continue to bid the price up and run over the edge of a cliff. So you are saying you would be the only one wise enough to see, that the system is not sustainable."

it's just wrong because I never said that

porc

member

Activity: 98

Merit: 10

Quote from: VolanicEruptor on December 13, 2013, 10:24:06 PM

Quote from: porc on December 13, 2013, 10:23:02 PM

Quote from: VolanicEruptor on December 13, 2013, 10:21:39 PM

Quote from: VolanicEruptor on December 13, 2013, 10:15:38 PM

Quote from: VolanicEruptor on December 13, 2013, 10:05:48 PM

Quote from: VolanicEruptor on December 13, 2013, 09:57:53 PM

what do you call a collapse though? from $100,000 down to $10,000? Cheesy

If you are correct, and Bitcoin is not scale-able due to exploding energy costs, cryptocurrency fans will move to a new coin. Bitcoin would collapse to 0, if you are correct.

You do not know how supply and demand works.

Your assumption: 1) Bitcoin is not scale-able, due to energy costs exploding. 2) Nobody will notice and price will continue going up 3) Armageddon

Assumption 2) is off base. Market participants would notice, and price would collapse. Cryptofans would move to a sustainable coin.

nope. it's not just a matter of "noticing and then getting out". That's not how long-term system failure works.

So market participants dont understand exponential energy cost explosions??? Like sheep they would continue to bid the price up and run over the edge of a cliff. So you are saying you would be the only one wise enough to see, that the system is not sustainable.

Lol. Pure arrogance.

You made another false assumption.. i never said that

What exactly are you saying?

Your title: Bitcoin Armageddon.

How?

Read the first post.

LOL. You are filibustering.

1)

Quote from: VolanicEruptor on December 13, 2013, 08:47:31 PM

yes obviously it's not possible to double forever.. eventually we will either run out of energy or material. Either way it's not good..

2) + 3)

Quote from: VolanicEruptor on December 13, 2013, 09:28:44 PM

people won't stop mining though if the bitcoin price keeps going up.

if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine

Your assumptions: 1) Energy consumption is unsustainable 2) Despite this being the case, people will continue to bid the price up. 3) Armageddon.

What assumption am I misrepresenting?

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: porc on December 13, 2013, 10:23:02 PM

Quote from: VolanicEruptor on December 13, 2013, 10:21:39 PM

Quote from: VolanicEruptor on December 13, 2013, 10:15:38 PM

Quote from: VolanicEruptor on December 13, 2013, 10:05:48 PM

Quote from: VolanicEruptor on December 13, 2013, 09:57:53 PM

what do you call a collapse though? from $100,000 down to $10,000? Cheesy

If you are correct, and Bitcoin is not scale-able due to exploding energy costs, cryptocurrency fans will move to a new coin. Bitcoin would collapse to 0, if you are correct.

You do not know how supply and demand works.

Your assumption: 1) Bitcoin is not scale-able, due to energy costs exploding. 2) Nobody will notice and price will continue going up 3) Armageddon

Assumption 2) is off base. Market participants would notice, and price would collapse. Cryptofans would move to a sustainable coin.

nope. it's not just a matter of "noticing and then getting out". That's not how long-term system failure works.

So market participants dont understand exponential energy cost explosions??? Like sheep they would continue to bid the price up and run over the edge of a cliff. So you are saying you would be the only one wise enough to see, that the system is not sustainable.

Lol. Pure arrogance.

You made another false assumption.. i never said that

What exactly are you saying?

Your title: Bitcoin Armageddon.

How?

Read the first post.

porc

member

Activity: 98

Merit: 10

Quote from: VolanicEruptor on December 13, 2013, 10:21:39 PM

Quote from: VolanicEruptor on December 13, 2013, 10:15:38 PM

Quote from: VolanicEruptor on December 13, 2013, 10:05:48 PM

Quote from: VolanicEruptor on December 13, 2013, 09:57:53 PM

what do you call a collapse though? from $100,000 down to $10,000? Cheesy

If you are correct, and Bitcoin is not scale-able due to exploding energy costs, cryptocurrency fans will move to a new coin. Bitcoin would collapse to 0, if you are correct.

You do not know how supply and demand works.

Your assumption: 1) Bitcoin is not scale-able, due to energy costs exploding. 2) Nobody will notice and price will continue going up 3) Armageddon

Assumption 2) is off base. Market participants would notice, and price would collapse. Cryptofans would move to a sustainable coin.

nope. it's not just a matter of "noticing and then getting out". That's not how long-term system failure works.

So market participants dont understand exponential energy cost explosions??? Like sheep they would continue to bid the price up and run over the edge of a cliff. So you are saying you would be the only one wise enough to see, that the system is not sustainable.

Lol. Pure arrogance.

You made another false assumption.. i never said that

What exactly are you saying?

Your title: Bitcoin Armageddon.

How?

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: pand70 on December 13, 2013, 10:21:27 PM

If difficulty keeps doubling for the next 14 months i think the price will be through the roof. So we are not exactly fucked Tongue

it will be very nice for people who own bitcoin, yes
but there is a whole world outside of bitcoin

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: VolanicEruptor on December 13, 2013, 10:15:38 PM

Quote from: VolanicEruptor on December 13, 2013, 10:05:48 PM