Topic: US Marshalls auction...what time will results/winner be announced today? - page 2. (Read 4995 times)

Going from a market cap of $0 to $5 Billion in 6 years for something that was started by a bunch of geeks and talked down upon by the media is an enormous gain by any standard.  What was Apple's market cap after 6 years?  I'm curious?

here's what I do know.  Apple was founded in 1976.  In 1983 their annual revenue was $1 Billion Dollars.  In 1996, (20 years later) their market cap began declining from $10 Billion.  Bitcoin touched $10 Billion in the first 5 years LOL.  And there's plenty of room to grow considering that currencies are comprised of Trillion Dollar markets.

It's also a big step that you can pay for things with Bitcoin regardless of whether or not the currency is being instantly converted.  The more places that you can spend bitcoin (by any method) the more comfortable businesses and individuals will start getting to the idea of bitcoin in general.  Eventually, conversions won't even be necessary.  Because why convert when you can make up to thousand percent gains holding bitcoins for a few years.

And, lastly, Bitcoin has a LONG way to go to catch up to the criminal usage of the US Dollar, which is surely measured in the hundreds of billions!  

Say hi to your other troll friends for me...that is if they're not all being used by the same account holder.  

Mostly irrelevant because Bitcoin's market cap is roughly double net worth of Ty Warner -- the genius behind BTCeanie BTCbabies.

Mostly irrelevant because mentioned companies do not accept bitcoin, but rather USD.
"In other words, Dell, Expedia, Microsoft, and Time, Inc. don’t actually “accept” bitcoins, per se. They accept U.S. dollars. It’s their bitcoin processing partners who accept bitcoin."

Though, I must concede,there are a few markets where Bitcoin is making substantial inroads.
Take criminal-to-criminal payments, for instance.
"Europol said that, according to its data, bitcoin accounts for as much as 40% of criminal-to-criminal payments online."

Excelsior!

You know you can play Poker with Bitcoin?  Bitcoin is up over 3 Million percent since inception.  Because it's a decentralized open-source network that can transmit data and value virtually instantaneously for little to no fee with no borders or boundaries and all without a middleman (ie. criminal banks!)  No wonder it has gone up in value by 3 Million Percent in only 6 years.  No wonder the banks hire so many trolls and shills to talk trash about bitcoin up and down internet forums.  Because the banks are already obsolete.  Start counting your yachts assholes!  

Exactly, most governments already let you use Bitcoin. Mostly irrelevant??  Is that why Dell, Microsoft and PayPal are getting their feet wet with Bitcoin.  Maybe you haven't heard of those companies...

I have three poker chips from Harrah's Casino New Orleans. My daughter is playing with them right now. Says they are worth $1 each.

Most governments already let you to play with your tokens, just like you're free to invest in and trade BTCeanie BTCabies. As long as it remains mostly irrelevant, kept to crooks robbing other, dumber crooks, why should governments intervene? Which is not to say that as soon as bitcoiners get a dose of surprise buttsecs from their fellow crypto aficionados, they don't cry like little girls & run straight to Nanny State and her Jackbooted Thugs to make it all better.

As for 'mad gunmen in gun-free zones'? Please limit your rage to teh internets & try not to hurt IRL people, k Wild One?

I think we might hear from the loser of the auction. I think the price will have gone over market. Well over in fact. Buying that many coins, I think we will find out 400 is a losing bid on all blocks.

Let's see what happens on Monday. Something will leak.

I didn't say "adopt it as legal tender" I said "accept it" It certainly doesn't need to be somehow officially recognized to be wildly successful.

Either way, making Bitcoin illegal will have about the same impact as stopping mad gunmen from opening fire in gun free zones, and it will be even less successful than making file sharing illegal

i am more interested in what the actual buying price was for the auctioned coins. don't think it's much higher or lower than the market price.

-for the record, I agree with none of you.

 

All it takes for pigs to fly is total and complete absence of gravity and/or a set of powerful wings. Sadly (for the pigs that is, not for the rest of us not interested in being pelted by pigshit), neither is any more likely to happen than a country adopting Bitcoin as its legal tender.

Regarding file sharing, you can't stop people from doing it completely -- you, for instance, will keep downloading warez forever, due to your angsty thieving nature.
But normal people? We pay people for their work instead of sharing stealing it like you do, Wild One

All it takes is one moderately sized country to accept bitcoin for another country's banning it to have little impact. That first country that accepts it outright would become a Bitcoin-Economy Power House.  File sharing is illegal too, dumbass.  So are drugs.  How do they stop people from file sharing?  Happens every day on an extremely large scale.  The joke is on government and their banks

"The Government" doesn't need to "kill" Bitcoin in the same sense as [it halfheartedly tries to kill] The Pirate Bay. I'm sure a few diehards will continue using Bitcoin to buy & sell drugs and child porn on fly-by-night Dark Net Markets, even if governments outlaw it, like Taiwan has, or if using it will get you 4 years in the gulag, as soon will be the case in Russia.

But governments can prevent large-scale adoption and use, because Granny won't be duped into using Bitcoin, no matter how stupid and desperate she is, if Bitcoin is made illegal & using it means risking a 4-year jail stretch. If made illegal, the value of BTC will plummet & return to the single digits where it belongs -- so that neckbeards too afraid to leave their basements to score decent drugs could continue overpaying for their shitty bath salts fix.

If you wish to learn more about the steps governments need to take to effectively eradicate Bitcoin, don't hesitate to ask

"Still, for the purpose of what was brought up in this thread, which was a value vs. price discussion that really (whether it wanted to or not) was focused on ROI? "

I haven't learned anything about your distinction between Value and Price from this statement.  Were you trying to indicate that the subject has been changed?  Well the subject was initially "US Marhsalls auction....what time will results/winner be announced today" and then the OP leads that into his belief that Bitcoin would be a good buy at $280 (but not at current prices) yet he tries to identify himself as a bull.  That's a lot of psychological manipulation going on there.

"There is no guarantee that the network can, under certain types of attacks, retain this capitalization"

There's no guarantee that any stock or share of anything will retain anything at any time.  Bitcoin has been attacked every which way through DDoS attacks and media attacks galore numbering over 78+ "Bitcoin is Dead" type arguments that have been documented.  It's still up over 3 Million percent since its inception only 6 years ago when it was like $0.001, and that was after several boom and bust cycles already.  If you think that doesn't add support for its ability to survive in the future (ability, not guarantee) than I don't think you're being intellectually honest.  

"The volatility is there for a reason after all: thinly traded market, somewhat illiquid, less than fully professional services in key economic areas (exchanges in China, the largest market by far), worries about scams (like MMM this very moment)."

Yes, it's certainly thinly traded.  The MMM Ponzi scheme worries are being exaggerated by the media the same way they exaggerated 78+ articles that claim Bitcoin died over the past few years.  I'm not worried about these scams because I'm not participating in them.  The mainstream media loves to try to connect bitcoin to ISIS, and Ponzi Schemes, and Drug Dealers because that is the ugly dark side of bitcoin markets.  USD has far darker black markets than Bitcoin.  Bitcoin only has a $5 Billion market cap.  That's probably the profit margin of some of the drug dealing and ponzi scheming going on with US Dollars. To claim Bitcoin is only going up because of a ponzi scheme and not because it's a decentralized open source autonomous trustless value transmission system that has no borders or boundaries and can trade value virtually instantaneously for little to no fees, is trolling.

"Like I've said previously, my target is for this network to attain a value in the trillions - I believe that will happen (what a crazy bear I am!!!!!)"

Yet you betray yourself by saying things like thinking the government can kill Bitcoin easier than The Pirate Bay, and concerns that the Blocksize issue will destroy bitcoin, and that ponzi schemes are what's probably responsible for the current rise.  OK sure, what a Bull you are.   Sounds more like you're mixing bullish sentiment with bearish declarations to stir Fear, Uncertainty and Doubt (FUD).

"Certain models in network theory show that this is possible, the value of a network like this probably follows something similar to Zipf's Law - so, added adoption should have a massive impact on price/value... much more so than people can understand to be "sane". On a similar vein, I'm not too worried about distribution, as I believe Pareto distribution is going to take hold regardless... projects like NEM will find this out the hard way. Though, the GINI index for BTC is not something to be celebrated in its current form."

See you say something like this, adding a bunch of smart sounding words to make you sound like a well-researched bull, and then, immediately after:

"What I'm saying is, if your goal is ROI from THIS PONT FORWARDS, the utility of the BTC network could be compromised in a way that is maybe more extreme than the utility of PIRATEBAY under a similar scale of attack for each individual network."

     

"Destroying BTC is impossible, in my estimation. But, a very coordinated attack worries me from an adoption stand point - and thinking about ROI at this stage is more or less a bet that falls purely on the extent the network is adopted."

yes, everybody understands this.  You're adding absolutely nothing.  Everybody knows that if adoption goes up, price is likely to go up and if adoption goes down, price is likely to go down.  Everybody knows that if the network gets attacked, price could go down because of weak hands and Fear and Greed, etc.  You've added absolutely nothing.  Just bloviating on and on

And you STILL haven't explained how exactly The Bitcoin Network could be killed easier than The Pirate bay.  In your last response, you basically just said That The Pirate bay is fairly resilient to attack but Bitcoin also is too, but the BTC Network "could be compromised in a way that is maybe more extreme than the utility of PIRATEBAY under a similar scale of attack for each individual network"

still without a single reason why!  AMAZING!  You wrote that long of a response WITHOUT A SINGLE ANSWER!!!  

For each individual network?  WTH are you talking about!?  How in the world is Pirate Bay going to be killed easier than an encrypted network with more distribution??

And PirateBay actually agrees with me!! Check out this article on how they discussed adopting bitcoin like properties, because:

"This means that blocking IP addresses, which UK ISPs have been ordered to do by courts, won’t work, as there is no central IP address to block."

https://recombu.com/digital/article/pirate-bay-bitcoin-p2p-network_M12668.html  

Bitcoin is referred to again in the following article on:

How The Pirate Bay Plans to Beat Censorship for Good
https://torrentfreak.com/how-the-pirate-bay-plans-to-beat-censorship-for-good-140105/

You see kids, you reallly can identify trolls and shills by how much they bloviate  
 

Depends by what you mean by "kill" I suppose.

I don't think the BTC network can be destroyed, I think it is probably highly anti-fragile by now (Lindy effect on a network like this (p2p)? For 6 years? That is substantial).

Still, for the purpose of what was brought up in this thread, which was a value vs. price discussion that really (whether it wanted to or not) was focused on ROI?

I think PIRATEBAY can serve an utility even under extreme attack and distress. The bitcoin network can as well, no doubt, but, if your goal was to get a return on investment and you bought in around where we are now? There is no guarantee that the network can, under certain types of attacks, retain this capitalization - at least not in the short term. The volatility is there for a reason after all: thinly traded market, somewhat illiquid, less than fully professional services in key economic areas (exchanges in China, the largest market by far), worries about scams (like MMM this very moment).  

Like I've said previously, my target is for this network to attain a value in the trillions - I believe that will happen (what a crazy bear I am!!!!!) Certain models in network theory show that this is possible, the value of a network like this probably follows something similar to Zipf's Law - so, added adoption should have a massive impact on price/value... much more so than people can understand to be "sane". On a similar vein, I'm not too worried about distribution, as I believe Pareto distribution is going to take hold regardless... projects like NEM will find this out the hard way. Though, the GINI index for BTC is not something to be celebrated in its current form.

What I'm saying is, if your goal is ROI from THIS PONT FORWARDS, the utility of the BTC network could be compromised in a way that is maybe more extreme than the utility of PIRATEBAY under a similar scale of attack for each individual network.

Destroying BTC is impossible, in my estimation. But, a very coordinated attack worries me from an adoption stand point - and thinking about ROI at this stage is more or less a bet that falls purely on the extent the network is adopted.

 

 

No please, keep replying.  The longer this goes on the less of a shit people will give about you and your crony shills' bearish troll of a thread that's disguised to look like a bunch of bulls.  The guy pretends like he's the biggest bull he knows and then he's like, "The Government could kill Bitcoin easier than The Pirate Bay"

 

.@rtrtcrypto: stop replying to jaredboice troll. I think he has Assburgers.

You like getting paid to troll huh, and present baseless bearish statements in the guise of a bull?

Yes I like the word substance, because I won't let up.  I will keep asking for supporting information and substance for your retarded statements.

Tell me again, why do you think Bitcoin should be easier for the government to kill than The Pirate Bay?  Let's hear some SUBSTANCE