Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29549. (Read 26609743 times)

Oh, interesting! Explain me then, what is the true value of bitcoin.

The technology of what? Cryptography? Python? Personal computers? The Internet?
Bitcoin source code doesn't bring anything new to the table, it only combines existing technologies in one innovative idea. So, there is no complex "technology" in bitcoin to be valued, the idea is what is valuable and the idea can be made better by others with their own innovations.

Services like Bitpay will only maximize it's utility with using it as an intermediate payment tool to compete with credit card companies. Currently using bitcoin is more expensive, time consuming and difficult then using a credit cards. Right now it's a gimmick even in this intermediate payment field. It only could be more then a gimmick if it would be a stand-alone currency without fiat to support it.

I might mention here that your manners and language are not characteristic of an educated mind, nor even of a marginally socialized modest intelligence.


And where will you find better stability?  "Stablecoin"?  

Bitcoin will be stable when it stops growing so rapidly and has more inertia (market cap, if you must) relative to the fiat cross-flow.

Not all investors are so pusillanimous as to find the necessary growth phase daunting.  Without growth, no network can become non-trivially homeostatic.

Takes one to know one?

Did i mention that i worked 10 years ago in a psychiatric ward.

Cup and handle action happening in market at the moment.

The owners are not relevant in determining the supply.  Only the miners are relevant.  The principal mining decision makers are readily identifiable, if you take the trouble.  I have not, nor am I likely to, take the trouble.  Their interests are fairly predictably aligned with my own.

FTFY

Interesting article, thx for sharing.

@windjc

i read through all the technical fundamentals as you proposed and i came to the conclusion that this chart might be the future of Bitcoin.
It´s actually from the hidden page of Satoshis white paper written with magic ink, many have not seen it before.
You should take a look at it:











LOLOLOLOLLOLOLOLOLLOLOLOLOLOLOLOLOLOLOOL

Keyser/Bill,
You're a sensible sort.

What do you think of Jorge's proposal?


BTW excuse my spelling I'm a bit crook today (that's Australian for sick).

Explanation

You don't actually understand macroeconomics and finance better than me or you would know that the value in bitcoin is not as a currency. You missed the entire point of this technology. Currency is just one of many aspects, but certainly not the most powerful. You don't even get the basics of what is going on here or where the value lies. Volatility doesn't matter to merchants for reasons that are obvious and because of issues that have already been resolved by companies like Bitpay. However, bitcoin's power is not as a currency. Sad, that you don't even recognize that basic fundamental point, Mr. Microeconomics.

Mt Gox 2.0?

http://www.reddit.com/r/Bitcoin/comments/1y7con/btce_not_sending_bitcoins_after_one_week_be/

https://bitcointalk.org/index.php?topic=459464.140

Can you please stop acknowledging windjc. Although many might complain that fonzie is a troll at least he does not get hostile and aggressive to others that disagree with his view point.

Did you forget your "how to not behave like a little child" pills today?

I will say this again: screw you, you delusional prick!
When i'm saying that bitcoin isn't the answer because it's too simplistic, then it doesn't mean that I don't believe in the fundamentals of technology. I just understand macroeconomics and finance better then you, that bitcoin won't be able to offer price stability and without price stability it won't ever be a quality currency.

I believe that this idea that bitcoin created will soon bring forward a new wave of information technology based currencies, that already have an integrated market regulation system and a more proper system for creating new units.
When someone said that Macintosh won't conquer the world as a personal use computer, that there will be competition that will better the idea, then it doesn't mean that he doesn't believe in fundamentals of technology!

Do not let us keep you..  must be plenty to do..

"In the parlance of our times" she used it correctly, dude, at least as far as I've heard it. I seem to recall it's in the movie Valley Girl. Also some surfer acquaintances of mine used it in college often.

My offhand etymology guess on the surfer/valley girl usage would be: I'm excited -> I'm all fired up -> I'm stoked.
Looking online it appears to have entered surfer slang @1963.

Bitcoins are pre-mined now, Mr Stanford educated computer scientist? Get thee to the developer forum, go!

I didn't invest before, because bitcoin didn't mater then. I knew about it and I even visited your little forum, but I had no interesting in being involved in an gambling platform that is supported only by drug trade.
Can you argue against it, like it had any other utility then buying drugs online? Do you argue against it that the tor drug market was the only thing that gave value to bitcoin then?
Bitcoin only became interesting to me when I saw a chance that it could also be more. During the last period the chances of this happening are getting smaller.

I also see the simple truth that bitcoin won't be able to create any price stability with this overly simplified proof-of-work mining system for creating new coins. That will be the final stop where bitcoin won't be able to go further.
People with basic financial knowledge can see that bitcoin isn't the answer, but it just propagated the idea that will lead to an answer. I just hope that bitcoin still has couple of years of hype left in it, so there will be better cryptos, that would make financial sense, and that could possibly develop into a stand-alone currency. Then the end of bitcoin won't be the end of this idea of privatized monetary systems, but value will flow from bitcoin into another.

Only lazy and uneducated hodlers believe that they can just buy, wait some years and become millionaires by just buying early. World doesn't work like that.
It's funny how these people present themselves like fighters for liberty and how they promote bitcoin because it's the right thing to do. What they are really doing is hoping that there will be an re-distribution of wealth and they can be the new ruling class in economy, all while doing no work and having no practical skills or education to contribute to society.