Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33250.

Rampion

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Quote from: lucas.sev on June 07, 2013, 09:25:58 PM

Quote from: Rampion on June 07, 2013, 09:18:51 PM

I guess you need to read more and educate yourself, because you are not getting BTC's point if you think that not being ideal for fast micro-transactions is a flaw. Again: it was not designed with that in mind. The problems it solves are different, and deeper.

But this will stop it from being used as a currency. It will be store of value, but not currency in a sense "pay for dinner" or "buy a coffee" currency. Of course you CAN buy a dinner in few obscure places that I do not know names of in LA paying with BTC, but that's not the point.

I appreciate BTC benefits. Being decentralised is fantastic. Having a paper wallet is mind blowing. Its compressing value into a QR code. This stuff is truly, truly amazing to me. But I cringe when I hear that BTC will become a widely adopted currency.

Services can be built on top of Bitcoin that can allow you to instant off-chain transactions. And anyhow, not being able to pay your morning coffee with Bitcoin is irrelevant. 90% of the people in here agrees that there is no need to be able to pay for your chewing gum with it. You don't need it to be the "world currency" used by 5 billion people, and with a price per bitcoin of $1M. BTC covers a specific area that generates a huge demand, simply because it enables you to be more free than you were without it.

And now call it a failure...

Rampion

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Quote from: ?? on ??

Quote from: Rampion on June 07, 2013, 09:18:51 PM

BTC's point is a completely different one. It's more about freedom than about convenience.

I guess you need to read more and educate yourself, because you are not getting BTC's point if you think that not being ideal for fast micro-transactions is a flaw. Again: it was not designed with that in mind. The problems it solves are different, and deeper.

And it's failing at that.

Yep. Sure. Started from scratch as a piece of code in 2009 and here we are, looking how all the three letter agencies stare at it. Even Coinseeker the patriot is hooked in the bitcointalk forums chatting with bitcoiners terrorists, because it is such a failure.

BTW, today I sent money BTC to one of my best friends who recently moved to a South American country. He cannot easily send money out of where he's currently living, nor receiving money from abroad, because he just opened a bank account and he has not been working in the country for at least 3 months, so international wires are "disabled". Funny regulation, right?. Well, we just said *fuck off* to that, only two hours ago. True story. But yeah, what a failure.

Saying that what is happening with Bitcoin now "is a failure" defines yourself.

lucas.sev

sr. member

Activity: 252

Merit: 250

Quote from: Rampion on June 07, 2013, 09:18:51 PM

I guess you need to read more and educate yourself, because you are not getting BTC's point if you think that not being ideal for fast micro-transactions is a flaw. Again: it was not designed with that in mind. The problems it solves are different, and deeper.

But this will stop it from being used as a currency. It will be store of value, but not currency in a sense "pay for dinner" or "buy a coffee" currency. Of course you CAN buy a dinner in few obscure places that I do not know names of in LA paying with BTC, but that's not the point.

I appreciate BTC benefits. Being decentralised is fantastic. Having a paper wallet is mind blowing. Its compressing value into a QR code. This stuff is truly, truly amazing to me. But I cringe when I hear that BTC will become a widely adopted currency.

Jozzaboy

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Quote from: Coinseeker on June 07, 2013, 09:19:26 PM

Quote from: adamstgBit on June 07, 2013, 09:13:05 PM

why not?

i guess using ltc is an option for doing alot of super micro tx

the reddit bot is another good thing people can use, the bot can make miro tx between reddit users for free....

This says it better that I ever could. So to get a full functioning world currency, one needs Bitcoin, Litecoin and a reddit bot. Come on...really?

Mass adoption = Not imminent. Roll Eyes

Quote from: Rampion on June 07, 2013, 09:18:51 PM

Obviously. For microtransactions you have paypal. VISA. Or another crypt. Actually BTC cap is 7 transactions per second. VISA is +2000 per second.

BTC was never intended as a microtransactions system. And BTC could never have been Ripple, because is antagonic to debt-based, created-out-of-thin-air money.

BTC's point is a completely different one. It's more about freedom than about convenience.

I guess you need to read more and educate yourself, because you are not getting BTC's point if you think that not being ideal for fast micro-transactions is a flaw. Again: it was not designed with that in mind. The problems it solves are different, and deeper.

At least your acknowledging that it's not suited to be a world based currency. My job is done here.

Ahem... Bitcoin=Gold, LTC=Silver and as for the reddit bot, this is just a relatable example in a very young innovation. You stick to your Ripples, we will keep our finite monies.

Coinseeker

sr. member

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Quote from: adamstgBit on June 07, 2013, 09:13:05 PM

why not?

i guess using ltc is an option for doing alot of super micro tx

the reddit bot is another good thing people can use, the bot can make miro tx between reddit users for free....

This says it better that I ever could. So to get a full functioning world currency, one needs Bitcoin, Litecoin and a reddit bot. Come on...really?

Mass adoption = Not imminent. Roll Eyes

Quote from: Rampion on June 07, 2013, 09:18:51 PM

Obviously. For microtransactions you have paypal. VISA. Or another crypt. Actually BTC cap is 7 transactions per second. VISA is +2000 per second.

BTC was never intended as a microtransactions system. And BTC could never have been Ripple, because is antagonic to debt-based, created-out-of-thin-air money.

BTC's point is a completely different one. It's more about freedom than about convenience.

I guess you need to read more and educate yourself, because you are not getting BTC's point if you think that not being ideal for fast micro-transactions is a flaw. Again: it was not designed with that in mind. The problems it solves are different, and deeper.

At least you're acknowledging that it's not suited to be a world based currency. My job is done here. The ideology, you can keep.

Rampion

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Activity: 1148

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Quote from: lucas.sev on June 07, 2013, 08:59:41 PM

Quote from: Rampion on June 07, 2013, 08:50:46 PM

Quote from: Coinseeker on June 07, 2013, 08:47:47 PM

I'm not going to turn this into a Ripple discussion. That wasn't my intention. It's actually a brilliant system though, if you take the time to understand. It's everything Bitcoin could have been and never will be. That's MY view.

But he IS right in saying that bitcoin will never be used for microtransactions.

Obviously. For microtransactions you have paypal. VISA. Or another crypt. Actually BTC cap is 7 transactions per second. VISA is +2000 per second.

BTC was never intended as a microtransactions system. And BTC could never have been Ripple, because is antagonic to debt-based, created-out-of-thin-air money.

BTC's point is a completely different one. It's more about freedom than about convenience.

I guess you need to read more and educate yourself, because you are not getting BTC's point if you think that not being ideal for fast micro-transactions is a flaw. Again: it was not designed with that in mind. The problems it solves are different, and deeper.

SlipperySlope

hero member

Activity: 686

Merit: 501

Stephen Reed

Quote from: favelle75 on June 07, 2013, 07:05:35 PM

Bought all back in at $112......wondering if I made a mistake. Obviously missed the bottom, but was that just a false bottom?

Yeah, I bought back in 80% at $131. Holding 20% (or less as conditions indicate) as trend trading funds using Goomboo's moving average algorithm. The hourly chart trend is clearly downwards at the present.

https://bitcointalksearch.org/topic/goomboos-journal-60501

lucas.sev

sr. member

Activity: 252

Merit: 250

Quote from: adamstgBit on June 07, 2013, 09:13:05 PM

Quote from: lucas.sev on June 07, 2013, 08:59:41 PM

Quote from: Rampion on June 07, 2013, 08:50:46 PM

Quote from: Coinseeker on June 07, 2013, 08:47:47 PM

I'm not going to turn this into a Ripple discussion. That wasn't my intention. It's actually a brilliant system though, if you take the time to understand. It's everything Bitcoin could have been and never will be. That's MY view.

But he IS right in saying that bitcoin will never be used for microtransactions.

why not?

i guess using ltc is an option for doing alot of super micro tx

the reddit bot is another good thing people can use, the bot can make miro tx between reddit users for free....

Why not? Because when my friend lacks money to spend on a steam sale that ends in an hour or two, I can't send him bitcoin as it will take too long. I need to use paypal.

adamstgBit

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Trusted Bitcoiner

Quote from: lucas.sev on June 07, 2013, 08:59:41 PM

Quote from: Rampion on June 07, 2013, 08:50:46 PM

Quote from: Coinseeker on June 07, 2013, 08:47:47 PM

I'm not going to turn this into a Ripple discussion. That wasn't my intention. It's actually a brilliant system though, if you take the time to understand. It's everything Bitcoin could have been and never will be. That's MY view.

But he IS right in saying that bitcoin will never be used for microtransactions.

why not?

i guess using ltc is an option for doing alot of super micro tx

the reddit bot is another good thing people can use, the bot can make miro tx between reddit users for free....

lucas.sev

sr. member

Activity: 252

Merit: 250

Quote from: Rampion on June 07, 2013, 08:50:46 PM

Quote from: Coinseeker on June 07, 2013, 08:47:47 PM

I'm not going to turn this into a Ripple discussion. That wasn't my intention. It's actually a brilliant system though, if you take the time to understand. It's everything Bitcoin could have been and never will be. That's MY view.

But he IS right in saying that bitcoin will never be used for microtransactions.

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: Coinseeker on June 07, 2013, 08:47:47 PM

I'm not going to turn this into a Ripple discussion. That wasn't my intention. It's actually a brilliant system though, if you take the time to understand. It's everything Bitcoin could have been and never will be. That's MY view.

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: Jozzaboy on June 07, 2013, 08:39:25 PM

Eh, i'm not feeling it. Ripples, centralised, mass-producible currency which is easy to regulate. Stupid name too. Who the hell is going to post on Facebook that they got "900 ripples this week! Who wants a drink?"?

And that's the beauty of freedom and of the Ripple network. You can use whatever currency you want. XRP are a currency within Ripple, sure. But Ripple is a payment ecosystem that allows people to use whatever currency they choose, without boundaries. I could theoretically pay someone in Japan with Bitcoins and the user on the other end can have their money in Yen, for instance. They never had to deal with BTC, eventhough I do, yet everyone is happy dealing with the currency of their choice.

I'm not going to turn this into a Ripple discussion. That wasn't my intention. It's actually a brilliant system though, if you take the time to understand. It's everything Bitcoin could have been and never will be. That's MY view.

Coinseeker

sr. member

Activity: 252

Merit: 250

I think we're going to see more minimal up and down around this 110 spot until those whale walls give in. Same thing is going to happen as the last time they put a huge wall up to prevent the fall. The longer it stays there, the harder the fall is going to be when they pull the plug. Maybe that's what they want because in the end, they will lose. If the markets want to go down, they are going down. Just delaying the inevitable, assuming down is what's inevitable.

I'm just ready to cash in my double digit guarantee. Grin

Jozzaboy

member

Activity: 98

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Quote from: Coinseeker on June 07, 2013, 08:21:48 PM

Quote from: TheKoziTwo on June 07, 2013, 08:13:25 PM

Quote from: Coinseeker on June 07, 2013, 07:46:57 PM

Quote

If you want to make a river, pour water on the mountain top.

This is only one of many reasons I choose Ripple as a better world currency alternative. There are vastly more XRP's. So many in fact, it could be literally hundreds of year, if ever, that you would need to calculate beyond the 3rd decimal. It's nearly impossible to do this with Bitcoin because there are only 11 million of them and at most 21 million. And that doesn't account for how many have been or will be lost forever. I know what you'll say, "Bitcoin can be broken down to 8 decimal places." What the vast majority of people say is, "Who cares, what a pain in the arse to deal with .00239484 of something." And I agree.

Wow... just wow dude.... if that really is a problem why don't we just multiply all bitcoins in existence with 1000 ? Nobody loses and you get that vastly more bitcoins you're looking for Wink

But in that case, mBTC and later uBTC or satoshi will basically do the same thing, in solving this "problem".

No, you're trying to fit a square peg in a round hole. And honestly, nobody cares. We didn't ask to have the wheel reinvented, we just said build a better wheel.

In the end, that's why I choose Ripple as the future. You choose what you want...but you're all wasting your time trying to sell me on 8 decimal places, satoshis, sushis, whatever. Who cares. It's waste of time. I thought I made that clear. There are better ways to do it. Bitcoin is not a currency. That's my view.

Eh, i'm not feeling it. Ripples, centralised, mass-producible currency which is easy to regulate. Stupid name too. Who the hell is going to post on Facebook that they got "900 ripples this week! Who wants a drink?"?

lucas.sev

sr. member

Activity: 252

Merit: 250

Quote from: Frozenlock on June 07, 2013, 08:37:36 PM

Wall around $105 is now 11k. Shocked

One big order for 6k and another for 2k.

And of course walls are never fake Roll Eyes

Although yeah, this one might stand.

Frozenlock

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Wall around $105 is now 11k. Shocked

One big order for 6k and another for 2k.

lucas.sev

sr. member

Activity: 252

Merit: 250

bye 110

Rampion

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Quote from: Coinseeker on June 07, 2013, 08:19:55 PM

Quote from: Rampion on June 07, 2013, 08:02:48 PM

Quote from: Coinseeker on June 07, 2013, 07:59:11 PM

Quote from: Frozenlock on June 07, 2013, 07:50:49 PM

Guys, you realize there's every other subforums for this kind of discussion, right?

Your gifs are funny, but your reasoning is so retarded that I'm forced to think you're trolling.

Let me ask you a very simple question: don't you realize that debt money is bad money?

You already have LOTS of it. You already have a "global currency": debt. I really don't know what you're babbling about when you start with your "Ripple superior to BTC" song.

Honestly, are you serious?

I'm aware you don't know what I'm "babbling" about, as it relates to Ripple, because you don't understand Ripple. You're prejudiced against anything not Bitcoin, thus remain ignorant to what Ripple really is. Truly, Ripple is not a Bitcoin competitor or replacement. It could become that, but that is the choice of the people. That is not what Ripple is for. Ripple could actually make Bitcoin more accessible to more people and businesses, without more people or more business actually having to deal directly in Bitcoin. It's a win, win for Bitcoin. Sure beats begging businesses to accept Bitcoin in numerous forum threads. Roll Eyes

How your "debt" point is even relevant, I'm still trying to figure that out.

First, your "100 billion is superior to 21 millions" is ridiculous, as others pointed out.

Secondly, Bitcoin is designed to replace a flawed, centralized system, based on debt money created from thin air. It's a challenge to factual powers.
Ripple is just a distributed layer built on top of this flawed system, and shares all its drawbacks - adding an additional layer of debt-driven negative incentives. Plus, the crypto built inside Ripple is 100% centralized, while its security mechanism (no mining, consensus, no incentives to be a validator) is 100% untested.

And finally, you really do not understand the deep implications of Bitcoin. How it represents a step towards freedom, because it can free you from debt money. You seem not to value that, probably because you cannot understand it. You are too happy to be a slave. Or you are troll. No other options.

TheKoziTwo

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Quote from: Coinseeker on June 07, 2013, 08:21:48 PM

Quote from: TheKoziTwo on June 07, 2013, 08:13:25 PM

Quote from: Coinseeker on June 07, 2013, 07:46:57 PM

Quote

If you want to make a river, pour water on the mountain top.

This is only one of many reasons I choose Ripple as a better world currency alternative. There are vastly more XRP's. So many in fact, it could be literally hundreds of year, if ever, that you would need to calculate beyond the 3rd decimal. It's nearly impossible to do this with Bitcoin because there are only 11 million of them and at most 21 million. And that doesn't account for how many have been or will be lost forever. I know what you'll say, "Bitcoin can be broken down to 8 decimal places." What the vast majority of people say is, "Who cares, what a pain in the arse to deal with .00239484 of something." And I agree.

Wow... just wow dude.... if that really is a problem why don't we just multiply all bitcoins in existence with 1000 ? Nobody loses and you get that vastly more bitcoins you're looking for Wink

But in that case, mBTC and later uBTC or satoshi will basically do the same thing, in solving this "problem".

No, you're trying to fit a square peg in a round hole. And honestly, nobody cares. We didn't ask to have the wheel reinvented, we just said build a better wheel.

So moving the decimals a few zero's to the left is "building a better wheel"?

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: TheKoziTwo on June 07, 2013, 08:13:25 PM

Quote from: Coinseeker on June 07, 2013, 07:46:57 PM

Quote

If you want to make a river, pour water on the mountain top.

This is only one of many reasons I choose Ripple as a better world currency alternative. There are vastly more XRP's. So many in fact, it could be literally hundreds of year, if ever, that you would need to calculate beyond the 3rd decimal. It's nearly impossible to do this with Bitcoin because there are only 11 million of them and at most 21 million. And that doesn't account for how many have been or will be lost forever. I know what you'll say, "Bitcoin can be broken down to 8 decimal places." What the vast majority of people say is, "Who cares, what a pain in the arse to deal with .00239484 of something." And I agree.

Wow... just wow dude.... if that really is a problem why don't we just multiply all bitcoins in existence with 1000 ? Nobody loses and you get that vastly more bitcoins you're looking for Wink

But in that case, mBTC and later uBTC or satoshi will basically do the same thing, in solving this "problem".

No, you're trying to fit a square peg in a round hole. And honestly, nobody cares. We didn't ask to have the wheel reinvented, we just said build a better wheel.

In the end, that's why I choose Ripple as the future. You choose what you want...but you're all wasting your time trying to sell me on 8 decimal places, satoshis, sushis, whatever. Who cares. It's waste of time. I thought I made that clear. There are better ways to do it. Bitcoin is not a currency. That's my view.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33250. (Read 26498343 times)