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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29194. (Read 26608265 times)

full member
Activity: 140
Merit: 100
banned but not broken

Bitcoin is an investment that is surrounded by cult behavior, would be my answer to that question.
legendary
Activity: 3374
Merit: 4738
diamond-handed zealot
full member
Activity: 140
Merit: 100
banned but not broken
Ofcourse the usercount is going to become more stable in future, at some point the market is going to become saturated and the amount of new users getting into bitcoin each day will start to decrease until we reach a stable base. The usercount can't increase linearly or exponentially forever, I'm sure you would have to agree with that as well. So the increase in usercount will slow down as well as the amount of new coins and thus we are going to reach a state of equilibrium eventually. It's just a matter of time.

I don't see it like that.
The nature of bitcoin itself keeps any stability from forming when taking into account the price and the amount of users. The main thing (almost the only thing) that attracts people to bitcoin, are promises, that if they buy now, then they can sell later with a lot higher price. That creates this situation where stability is impossible because as soon as the situation becomes stable, then people won't get what they came for and they will start selling/leaving.
Bitcoin has to be either on a rise or dropping, there is no stable middle ground.
The fundamental flaw here is that a currency shouldn't be attractive as an speculative investment. It ruins the stability, and stability is the main quality of an good currency. A currency should be unattractive as an investment, so it will only be used to transfer wealth and not be considered as a source of wealth by itself.
hero member
Activity: 504
Merit: 500
I dont know if anyone of you got this, and I dont know if this is legit ( I didnt open the attachment yet)



Got it too. MTGox email db was compromised or something?
legendary
Activity: 1148
Merit: 1001
things you own end up owning you
I dont know if anyone of you got this, and I dont know if this is legit ( I didnt open the attachment yet)

hero member
Activity: 560
Merit: 500
Gox Gox
can somebody explain me why in hell so many ppl kept their coins there after march 2013?
old accounts created back when all you needed was an anonymous throw away email account to sign up...can't really do that anymore

Ah.
Is that the reason why so many people are so anxious to save MtGOX, even with a radical haircut on their balances, rather than liquidating it?

This video with Andreas Antonopoulos and Stefan Molyneux goes into the Bitcoin community's attachment to Gox.
https://www.youtube.com/watch?v=wzwWIDIVSTo
legendary
Activity: 2604
Merit: 1748
When Gox was all there was, the amount of coins sitting around must have been huge.

And it seemed like it would never change.  So the temptation to use assets sitting around to maybe bail out a little temporary hitch must have been huge.

But once you start stealing from the cookie jar...

Then other exchanges take market share and price goes through the roof at the wrong time.

Panic - cover up, make it good somehow...   Then things start to flake and the whole house of cards come tumbling down.

The thing with 'rescue' is one simple question.

How much is the deficit?

If anyone serious was looking, it would be the only question 40,000 BTC - maybe.

750,000 BTC - no.

If that is the case - name only sale, no one will put that kind of money in.

When 'how much' is known - that will decide it.
hero member
Activity: 798
Merit: 1000

Ah.

Is that the reason why so many people are so anxious to save MtGOX, even with a radical haircut on their balances, rather than liquidating it?


Nope strangely enough people just want their money back  Wink
hero member
Activity: 798
Merit: 1000

I like it!
Best promo for bitcoin ever!

Combine future tech with future tech.

http://www.youtube.com/watch?v=Wu7tMD3ufKI

Awesome, but would definitely not want to use a non reversible payment method with it though


sr. member
Activity: 308
Merit: 250
I like it!
Best promo for bitcoin ever!

Combine future tech with future tech.

http://www.youtube.com/watch?v=Wu7tMD3ufKI

+1 Got to love that - even five years back that would have looked like seriously futuristic sci-fi...


You'd be fucked if you walk around in Amsterdam nodding to al the hookers in the redlight district. Better be careful with that shit  Wink
hero member
Activity: 910
Merit: 1003
Gox Gox
can somebody explain me why in hell so many ppl kept their coins there after march 2013?
old accounts created back when all you needed was an anonymous throw away email account to sign up...can't really do that anymore

Ah.

Is that the reason why so many people are so anxious to save MtGOX, even with a radical haircut on their balances, rather than liquidating it?
legendary
Activity: 2604
Merit: 1748
I like it!
Best promo for bitcoin ever!

Combine future tech with future tech.

http://www.youtube.com/watch?v=Wu7tMD3ufKI

+1 Got to love that - even five years back that would have looked like seriously futuristic sci-fi...
hero member
Activity: 504
Merit: 500
Moderator
CHOoooo CHooooooo next stop 500$ ETA 52h
newbie
Activity: 28
Merit: 0
As for acquiring from other exchanges, they take in both USD and BTC in fees. They all have enormous BTC stashes as a result.

But any part of that revenue that is left over from expenses will be taken out by the owners as profits.

So you were thinking of the individuals investing in SaveMtGOXco, rather than their companies?


Profits don't go straight to the owners. They are corporations, they go on the balance sheet.

I was also talking about the investors literally 'depositing' (I doubt they really deposited, but instead more likely were just given contracts with unlimited funds and told to write a check at the end) money on the exchanges and buying BTC on them as well, though. I think it's likely that happened.
hero member
Activity: 574
Merit: 500
I do believe good sirs the train is leaving the station.

All aboard!

I think 600-620 is the next station, then its a express to the moon. Hopefully some buyers show up after lunch.
legendary
Activity: 3374
Merit: 4738
diamond-handed zealot
Gox Gox
can somebody explain me why in hell so many ppl kept their coins there after march 2013? I dont know anything about manipulation but wasnt stupid enough to keep coins at gox after march 2013.

old accounts created back when all you needed was an anonymous throw away email account to sign up...can't really do that anymore
hero member
Activity: 854
Merit: 1000
I do believe good sirs the train is leaving the station.

All aboard!
hero member
Activity: 574
Merit: 500
There seems to be a lot of psychological projection in your attribution of motives, Jorge. I'm sure there is in my case also, but it reveals something about you.

One reason to believe in the future of bitcoin is that their salesmen are very good at winning the hearts of potential customers and skeptics.  Wink

If you think that only a sick mind could imagine such a scenario, read this, for example:

http://www.assetrecovery.org/kc/node/b7b13256-28f7-11de-900c-81c63910293a.0;jsessionid=9697605F2890DC6814DA990ADC28D28C

I won my last facebook naysayer discussion with these three

 Not looking good in South America
http://online.wsj.com/.../SB10001424127887323951904578292...

or Iran
http://online.wsj.com/.../SB10000872396390444592404578029...

Or you could trust these guys http://www.forbes.com/.../a-ponzi-pandemic-500-ponzi.../

None of your links work

Not looking good in South America
http://online.wsj.com/news/articles/SB10001424127887323951904578292383059267360
or Iran
http://online.wsj.com/news/articles/SB10000872396390444592404578029810117268752

Or you could trust these guys http://www.forbes.com/sites/jordanmaglich/2014/02/12/a-ponzi-pandemic-500-ponzi-schemes-totaling-50-billion-in-madoff-era/
updated them all in op and here, but they are paywalled at  wsj

I viewed em for free to begin, guess I had my free views of the day Cheesy
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