Watching amateur finance types flail - page 10.

tavi

newbie

Activity: 14

Merit: 0

Quote from: Nagle on June 24, 2011, 03:24:38 PM

Quote from: tavi on June 24, 2011, 03:09:28 PM

John N -- you've got great insights into the world of finance & trading it seems.

So please help us wrest control of money away from the elites (AKA power hungry bloodthirsty homicidal maniacs).
Bitcoin seems to be the only solution to this persistent problem.
Got anything better? Any other ideas?

You're thinking of Bitcoin as the modern equivalent of "the free and unlimited coinage of silver". (Read up on the Free Silver movement.) That was a different problem, though. That period had a growing economy with a fixed money supply tied to gold. The result was severe deflation. That's not the problem in the current US economy.

I wasn't clear enough, it seems that the Free Silver Movement was interested in inflation, legislative control and dictating the monetary policy to its liking. I'm quite the opposite.

At this point in time, every nation-state has a central bank backed by a ruthless punitive apparatus, in order to enforce its monopoly on money (medium of exchange & store of value) on its subjects.
Bitcoin seems to be the only thing that could drive those central banks into obscurity if possible, or destroy if necessary. By enabling common folks to interact with each other without the overlords.
Globally accepted, non-inflationary, free of customs controls, ruled by no one -- it's a thing of beauty!

ttul

member

Activity: 70

Merit: 10

Quote from: Nagle on June 24, 2011, 01:22:54 PM

This is a zero-sum game. If you've been in the game for half an hour and you don't know who the patsy is, you're the patsy.

I for one think that having my public keys lodged in the most elegant mathematical structure ever created by mankind is worth something.

Astrohacker

full member

Activity: 156

Merit: 102

"First, it looks like a bubble."

Yeah, it looks like a bubble. Until you learn about it and realize it's not.

"Second, Bitcoin is supposed to be a currency, but it's actually a speculative vehicle."

Actually, it's both. Just like dollars, gold, etc.

"Third, the organizations in Bitcoin's ecology are very flaky."

I totally agree there. Opportunities abound.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Can we get some price graphs on other things that people thought were money that turned out to be ponzi schemes? I'd like to compare.

kiba

legendary

Activity: 980

Merit: 1020

I hear bitcoin bubble!? It's time for a bitcoin bubble comic! Cheesy

BCEmporium

legendary

Activity: 1218

Merit: 1000

Quote from: NO_SLAVE on June 24, 2011, 03:42:21 PM

Really I think that site should be taken down. Whos with me? Wink

Against!
I like to see mid 90's early frontpage-like sites. It reminds me of a time when I was much younger Grin

(Missing my SEGA GameGear now... sigh! Cry

)

EDIT: If I've to point a flaw, is the site to not have several marquees (a LOT of them) saying stuff like «visit us» or «look! this text moves!»... would improve it a lot.

datguywhowanders

member

Activity: 112

Merit: 10

Dear Mr. Nagle,

I am not a financial expert, but like many here on this forum, I do have a lot of experience and knowledge in IT.

While your credentials and financial advice may be sound, as others have pointed out, your current website seriously discredits you. From the color scheme to the layout, it screams amateur and unprofessional. If you want people to take you seriously, it would be in your best interest to have someone fix it for you.

On to the matter of your post contents, if what you say is true, why would you bother to register on these forums and deign to even give an opinion to the Bitcoin community? I think we all have a hard time believing that you are doing it out of some notion of altruism toward your fellow man.

I think most of us here like Bitcoin, minus the occasional troll, and I wonder if you fall into the latter category. It's about more than just the economics. It's about the technology and the ideals that could potentially move us forward into something new and exciting.

If you don't want a part of it, please leave. No one will be sad to see you go. We probably won't be visiting your site anytime soon either Wink

Sincerely,
One Bitcoin Community Member

BCEmporium

legendary

Activity: 1218

Merit: 1000

Why not put this into simple words?
I guess this video sums up all that site's content in 20 seconds:

http://www.youtube.com/watch?v=dQ3acvz5LfI&feature=related

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: bitbot on June 24, 2011, 01:26:35 PM

Quote from: Nagle on June 24, 2011, 01:22:54 PM

an MMORPG

why does everyone make this mistake when it's clearly a

Because they're reading the letters in their head: "em em oh are pee gee". So it's "an em ..."

See also "an RPG" (About 4,350,000 Google results) vs. "a RGP" (About 2,380,000 results).

NO_SLAVE

newbie

Activity: 56

Merit: 0

That has got to be the worst site I have seen since Netscape 1.0 was still cutting edge.
What is with the terrible graphic at the left top? This site just screams financial professionalism to me... Roll Eyes

Really I think that site should be taken down. Whos with me? Wink

jerfelix

sr. member

Activity: 266

Merit: 250

Quote from: Nagle on June 24, 2011, 02:47:58 PM

Quote from: jerfelix on June 24, 2011, 02:09:10 PM

But to compare it to Digicash and Beenz really shows that you haven't done your homework. Probably a lot like predicting "the dot-com crash over the last Decade". (That would have been a little more impressive if done in 1998, and not over the last decade.)

Look at the dates on Downside.com's "deathwatch". Deathwatch ran from 2000-2001, starting at the peak of the dot-com boom. We predicted the crash when others were hyping the boom.

Nasdaq peak March 10, 2000 at 5048
Nasdaq a decade ago: 2035

If you had been "predicting the dot-com crash over the last decade", you would have predicted a crash, as the Nasdaq went UP from 2035 to its current 2652.

In other words, "predicting the dot-com crash over the last decade" means you did it after the crash.

Steve

hero member

Activity: 868

Merit: 1008

Quote from: Nagle on June 24, 2011, 01:22:54 PM

I've been looking at the Bitcoin world. It's amusing watching the classic forms of financial trouble happen in miniature.

What amuses me are are watching people like you that believe they have it all figured out. See, the upside is that this truly is the first pure money civilization has ever seen. But, you wouldn't be able to see those fundamentals looking at your daily charts and bollinger bands.

BCEmporium

legendary

Activity: 1218

Merit: 1000

Just a side note, that site resembles those car chase commentators on TV to me: «And now, he his behind bars! Will do no more harm!»

NO_SLAVE

newbie

Activity: 56

Merit: 0

Quote from: Nagle on June 24, 2011, 01:22:54 PM

I'm John Nagle, the person behind Downside.

Guess this makes you a professional attention seeker. What other motivation do have to be here other than to appease your immature attention seeking?

An "aha" moment for you.....now use it to grow into a useful human.

finnthecelt

full member

Activity: 140

Merit: 101

Quote from: Anduril on June 24, 2011, 03:26:19 PM

Quote from: finnthecelt on June 24, 2011, 03:11:57 PM

Come on Anduril, you troll, defend the dollar and fiat currencies.....

Allude to other threats with weaponry and drugging people. That's what the US does is it not. The value of the dollar down the barrel of a gun..... Nice.

Your quote has nothing to do with what I said BTW, I think you replied to the wrong post.

However, the xkcd cartoon is in jest to exemplify that the currency can be as secure as you can make it, and there will still be problems with security (like with unencrypted wallets and website exploits). Just as with everything in the world. It is simply a reminder that all of this hubris must be met with sanity.

By the way, look up tu quoque fallacy. Just because there are problems with fiat currencies it does not validate BTC.

And ffs people, not everyone who is critical of Bitcoin is a troll. I am very interested in it from various perspectives, yet it seems like it has become impossible to even post a cartoon without receiving an insult!

I'm aware of what I did and it was intentional. And I don't mind critics of BTC. I think I'm pretty realistic about the risk involved. I also have a pretty decent memory and recognize constant negativity. Perhaps you are just an observer but others are observing you as well. You're an experiment just like BTC.

I'll read your link.

Anduril

member

Activity: 92

Merit: 10

Quote from: FlipPro on June 24, 2011, 03:13:14 PM

Bitcoin could have prevented many things if it would have been around in the past. I think it would have been impossible for Hitler to go as far as he did, if he wasn't able to confiscate the "hard funds" that he took from every country he conquered.

Anduril

member

Activity: 92

Merit: 10

Quote from: finnthecelt on June 24, 2011, 03:11:57 PM

Come on Anduril, you troll, defend the dollar and fiat currencies.....

Allude to other threats with weaponry and drugging people. That's what the US does is it not. The value of the dollar down the barrel of a gun..... Nice.

Your quote has nothing to do with what I said BTW, I think you replied to the wrong post.

However, the xkcd cartoon is in jest to exemplify that the currency can be as secure as you can make it, and there will still be problems with security (like with unencrypted wallets and website exploits). Just as with everything in the world. It is simply a reminder that all of this hubris must be met with sanity.

By the way, look up tu quoque fallacy. Just because there are problems with fiat currencies it does not validate BTC.

And ffs people, not everyone who is critical of Bitcoin is a troll. I am very interested in it from various perspectives, yet it seems like it has become impossible to even post a cartoon without receiving an insult!

Nagle

legendary

Activity: 1204

Merit: 1002

Quote from: tavi on June 24, 2011, 03:09:28 PM

John N -- you've got great insights into the world of finance & trading it seems.

So please help us wrest control of money away from the elites (AKA power hungry bloodthirsty homicidal maniacs).
Bitcoin seems to be the only solution to this persistent problem.
Got anything better? Any other ideas?

You're thinking of Bitcoin as the modern equivalent of "the free and unlimited coinage of silver". (Read up on the Free Silver movement.) That was a different problem, though. That period had a growing economy with a fixed money supply tied to gold. The result was severe deflation. That's not the problem in the current US economy.

FlipPro

legendary

Activity: 1764

Merit: 1015

Quote from: bitcoinminer on June 24, 2011, 03:18:07 PM

Quote from: FlipPro on June 24, 2011, 03:16:28 PM

Lol, I don't do drugs

.
And if I did I wouldn't buy them from silk road. Roll Eyes

Maybe if they had invented Zoloft back then is a more plausible sollution than BTC preventing the holocaust. I mean seriously. Bitcoin wouldn't have prevented paintings, jewelry, real estate, and many other things from being confiscated.

It just makes you look not only ignorant of BitCoin, but really shows you have absolutely no knowledge of what the holocaust entailed.

I think if bitcoins were around that war would have never happened, genius.

bitcoinminer

sr. member

Activity: 322

Merit: 252

Quote from: FlipPro on June 24, 2011, 03:16:28 PM

Lol, I don't do drugs

.
And if I did I wouldn't buy them from silk road. Roll Eyes

Maybe if they had invented Zoloft back then is a more plausible sollution than BTC preventing the holocaust. I mean seriously. Bitcoin wouldn't have prevented paintings, jewelry, real estate, and many other things from being confiscated.

It just makes you look not only ignorant of BitCoin, but really shows you have absolutely no knowledge of what the holocaust entailed.

Topic: Watching amateur finance types flail - page 10. (Read 35334 times)