btw btc can reach $700 again quite easily -
they just have to do a 2:1 reverse stock split !!
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24423. (Read 26713762 times)
November 21, 2014, 09:45:14 AM
November 21, 2014, 09:45:12 AM
Who is this Joe Public? And why do you have such a low opinion of him?
Joe Public is everyone that you want to eventually care about and buy bitcoin. Without them, bitcoin is doomed. Why? Because there are only so many people like us (current nutjob bitcoiners) in the world.
Is it just like the Internet. There was a time when Joe Public absolutely hated the Internet and stayed far away from it (from lack of trust), while a small nutty community of nerds loved it.
still i'd rather have joe public crawl for btc dust, teaching them a lesson with their worship of the current status quo..
November 21, 2014, 09:44:51 AM
2014 was a great year for Bitcoin. So much progress was made in acceptance and the political arena. Bitcoin is no longer ignored. 2015 will be even more exciting. Once more unto the breach, dear friends!
November 21, 2014, 09:44:16 AM
...There was a time when Joe Public absolutely hated the Internet and stayed far away from it (from lack of trust)...
November 21, 2014, 09:41:27 AM
Who is this Joe Public? And why do you have such a low opinion of him?
Joe Public is everyone that you want to eventually care about and buy bitcoin. Without them, bitcoin is doomed. Why? Because there are only so many people like us (current nutjob bitcoiners) in the world.
Is it just like the Internet. There was a time when Joe Public absolutely hated the Internet and stayed far away from it (from lack of trust), while a small nutty community of nerds loved it.
November 21, 2014, 09:40:59 AM
I'm here because I speculate in Bitcoin. I have repeated this so many times that I find it hard to believe you can't remember any of them.
Even with my understanding of the average mental state and capacity of the posters in this thread.
Re. "pyramid scheme," here's an abbridged definition from wikip:
"A pyramid scheme is an unsustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public."
The operative word here is "promises," of which Bitcoin makes none. So the short answer is NO.
I hope this helps, but that hope is being tried each time I have to repost this
The assumption is that I've seen it to remember. Which is false.Even with my understanding of the average mental state and capacity of the posters in this thread.
Re. "pyramid scheme," here's an abbridged definition from wikip:
"A pyramid scheme is an unsustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public."
The operative word here is "promises," of which Bitcoin makes none. So the short answer is NO.
I hope this helps, but that hope is being tried each time I have to repost this
Time to start paying attention.
Quote
Also that definition of a pyramid scheme is quite narrow... if the community at large involved with a particular asset are making promises, it would typically hold as much weight as a central figure in a narrowly defined "business" environment, due to group think.
You are right. Some Bitcoin prophets are making promises, thus trying to turn Bitcoin into a pyramid scheme.
We can not blame Bitcoin for the actions of a few idiots who try to profit from it.
Quote
So you speculate in bitcoin, you don't think it's a pyramid scheme, but really failed to elaborate beyond yet another assumption that something on Wikipedia is an absolute/definitive source of information. What is your broader opinion of Bitcoin?
I'm not going to let this degenerate into another debate about wikip. Take this shit up with wikipeedos.
Alternatively, offer me another definition of a pyramid scheme, and I'll tell you if Bitcoin falls under that definition.
November 21, 2014, 09:38:05 AM
2014 was sooooo shit.
spooderman = gooderman !
November 21, 2014, 09:31:49 AM
Miners are NOT dumping bitcoin. Miners are generally bullish about bitcoin and generally holders.
Is there any evidence for that claim (other than some big miners saying so)?
Surely some miners are making such statements, and you should already realize that you do NOT need a lot of coins in order to manipulate prices downward. If someone has 10k coins, then s/he it can accomplish a lot of BTC price manipulation.
Miners dumping is NOT a logical conclusion,
In short, the answer is "no, there is no evidence that miners are holding".
However, I agree that dumping by miners, by itself, does not explain the fall from ~900$ in late january to ~350$ today. Inflation due to mining is only 10% per year.
That inflation may be amplified by the fact that part of the bitcoin supply is frozen by long-term holders. Namely, if only 1/5 of the bitcoins are in the hands of short-term speculators, and all the mining output is being dumped to the open market, then the effective inflation would be around 50% per year. Even so, it seems hard to blame the slump on miners dumping.
To me, the simplest explanation still is: the Chinese speculators are leaving the market.
November 21, 2014, 09:29:05 AM
you do NOT need a lot of coins in order to manipulate prices downward
What do you consider "a lot?"Didn't I use 10k coins in my description in the post that you cut.
Further, some of these guys who want to manipulate the price of BTC downward are going to be willing to dump at a loss for an extended period of time to achieve their objectives. They can continue to buy high and to sell low in order to dump strategically and to lose money and to scare people off of bitcoin because they dump strategically.
10k coins may be sufficient to manipulate for a month or so; however, 100k coins would be even better, and probably could manipulate for more than 6 months with 100k coins.
Edit: To be clear, I asked you what is a lot, not what isn't a lot.
November 21, 2014, 09:28:28 AM
Who is this Joe Public? And why do you have such a low opinion of him?
November 21, 2014, 09:26:49 AM
I'm here because I speculate in Bitcoin. I have repeated this so many times that I find it hard to believe you can't remember any of them.
Even with my understanding of the average mental state and capacity of the posters in this thread.
Re. "pyramid scheme," here's an abbridged definition from wikip:
"A pyramid scheme is an unsustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public."
The operative word here is "promises," of which Bitcoin makes none. So the short answer is NO.
I hope this helps, but that hope is being tried each time I have to repost this
The assumption is that I've seen it to remember. Which is false. Also that definition of a pyramid scheme is quite narrow... if the community at large involved with a particular asset are making promises, it would typically hold as much weight as a central figure in a narrowly defined "business" environment, due to group think.Even with my understanding of the average mental state and capacity of the posters in this thread.
Re. "pyramid scheme," here's an abbridged definition from wikip:
"A pyramid scheme is an unsustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public."
The operative word here is "promises," of which Bitcoin makes none. So the short answer is NO.
I hope this helps, but that hope is being tried each time I have to repost this
So you speculate in bitcoin, you don't think it's a pyramid scheme, but really failed to elaborate beyond yet another assumption that something on Wikipedia is an absolute/definitive source of information. What is your broader opinion of Bitcoin?
November 21, 2014, 09:23:04 AM
you do NOT need a lot of coins in order to manipulate prices downward
What do you consider "a lot?"Didn't I use 10k coins in my description in the post that you cut.
Further, some of these guys who want to manipulate the price of BTC downward are going to be willing to dump at a loss for an extended period of time to achieve their objectives. They can continue to buy high and to sell low in order to dump strategically and to lose money and to scare people off of bitcoin because they dump strategically.
10k coins may be sufficient to manipulate for a month or so; however, 100k coins would be even better, and probably could manipulate for more than 6 months with 100k coins.
November 21, 2014, 09:21:55 AM
November 21, 2014, 09:20:30 AM
2014 = super shit because Joe Public is scared shitless of bitcoin
2015 = slow steady rise out of the swamp because Joe Public starts to change their negative opinion of bitcoin
2016 = new highs again, but not done frantically, just gently because Joe Public actually starts to give a shit about bitcoin for the first time in history
end of 2016 = block reward halves, sparks new 5k-10k territory because Joe Public decides bitcoin is awesome and will buy it at any price. But god only knows how and why this paradigm shift will happen.
Is one possible outcome.....
2015 = slow steady rise out of the swamp because Joe Public starts to change their negative opinion of bitcoin
2016 = new highs again, but not done frantically, just gently because Joe Public actually starts to give a shit about bitcoin for the first time in history
end of 2016 = block reward halves, sparks new 5k-10k territory because Joe Public decides bitcoin is awesome and will buy it at any price. But god only knows how and why this paradigm shift will happen.
Is one possible outcome.....
Added a couple of details for ya...
November 21, 2014, 09:20:17 AM
NotLambchop, in all seriousness and with no disrespectful intent, what is your purpose for being here? There are a lot of bear trolls, but you're the only one who's consistently here almost 24/7.
Also, even though I might be able to surmise this from your answer to the question above, what's your feeling on Bitcoin in general? Do you believe it's a pyramid scheme? Do you just believe it's overvalued? If so, what do you value it? Etc. I'd love to know...
Also, even though I might be able to surmise this from your answer to the question above, what's your feeling on Bitcoin in general? Do you believe it's a pyramid scheme? Do you just believe it's overvalued? If so, what do you value it? Etc. I'd love to know...
I'm here because I speculate in Bitcoin. I have repeated this so many times that I find it hard to believe you can't remember any of them.
Even with my understanding of the average mental state and capacity of the posters in this thread.
Re. "pyramid scheme," here's an abbridged definition from wikip:
"A pyramid scheme is an unsustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public."
The operative word here is "promises," of which Bitcoin makes none. So the short answer is NO.
I hope this helps, but that hope is being tried each time I have to repost this
November 21, 2014, 09:18:03 AM
November 21, 2014, 09:17:44 AM
you do NOT need a lot of coins in order to manipulate prices downward
What do you consider "a lot?" November 21, 2014, 09:17:32 AM
NotLambchop, in all seriousness and with no disrespectful intent, what is your purpose for being here? There are a lot of bear trolls, but you're the only one who's consistently here almost 24/7.
Also, even though I might be able to surmise this from your answer to the question above, what's your feeling on Bitcoin in general? Do you believe it's a pyramid scheme? Do you just believe it's overvalued? If so, what do you value it? Etc. I'd love to know...
Also, even though I might be able to surmise this from your answer to the question above, what's your feeling on Bitcoin in general? Do you believe it's a pyramid scheme? Do you just believe it's overvalued? If so, what do you value it? Etc. I'd love to know...
His/her it's purpose here is to distract us from having meaningful communications about bitcoin.. and to constantly distract from the conversation to interfere..
Just look up the definition of troll, and NOT not pork fits such definition.
November 21, 2014, 09:15:45 AM
Miners are NOT dumping bitcoin. Miners are generally bullish about bitcoin and generally holders.
Is there any evidence for that claim (other than some big miners saying so)?
Surely some miners are making such statements, and you should already realize that you do NOT need a lot of coins in order to manipulate prices downward. If someone has 10k coins, then s/he it can accomplish a lot of BTC price manipulation.
Miners dumping is NOT a logical conclusion, it is FUD spreading.. even though you, Jorge, seem to be inclined to participate in the spread of any FUD whenever you can.
November 21, 2014, 09:15:00 AM
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