as stated in the OP my biggest worry is the exchanges, they are the next single biggest point of failure you people need recognise, more exchanges are needed that are backed by someone big.. or this will remain in the realm of a fantasy nerd currency..
True. We all know this. But few months ago Bitcoin actually was only fantasy nerd currency, so we need time before someone serious joins this game. 
Topic: Watching amateur finance types flail - page 9. (Read 35334 times)
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
Sincerely,
One Bitcoin Community Member
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
Sincerely,
One Bitcoin Community Member
Voted # 1 bitch slap
Voted # 1 humor
I like how many these posts are just flaming the guy who started the thread. Great community!
I like how the guy who started the thread just flamed the community. What a cunt!
as a daytrader for 12 years i know exactly what this guy is saying. I actually predicted my own demise when I bought at 30 bux but I took the gamble since this is not like stock trading...(i only invested around 10k which is fuck all in trading terms) this market acts as a share market with all the classic signs and follows, and also is different.. all i can say is if your not a professional trader i would suggest you sit on the sidelines for now or you WILL be fucked over.. I am waiting for gox to open and cash in on the panic selling. what i have lost so far is nothing compared to what I expect to make cashing in on inexperienced computer geeks or first time traders in this market. I will have your scalps.
The reason I am in the hole atm is because I didn't think a decentralised, deflationary currency would exhibit the same traits as a commodity, but it does. Human behavior is the single point of failure in this situation.
as stated in the OP my biggest worry is the exchanges, they are the next single biggest point of failure you people need recognise, more exchanges are needed that are backed by someone big.. or this will remain in the realm of a fantasy nerd currency..
The reason I am in the hole atm is because I didn't think a decentralised, deflationary currency would exhibit the same traits as a commodity, but it does. Human behavior is the single point of failure in this situation.
as stated in the OP my biggest worry is the exchanges, they are the next single biggest point of failure you people need recognise, more exchanges are needed that are backed by someone big.. or this will remain in the realm of a fantasy nerd currency..
(Missing my SEGA GameGear now... sigh! 
)
)I have one I'll sell for BTC.
People are so stupid. No one cares about your pathetic analysis. You know nothing about this technology, and the reason for the speculation and market bumps is because people like YOU.AKA People who don't understand what this is, and will probably never will. Just keep "speculating", god knows that's what you do best. 
You do know that in order to be taken seriously outside of the geek circles, Bitcoin needs people like the OP, right?
Understanding the technology does not a viable currency make.
Bitcoin is NOT a currency!!!
It is USED as currency.
Digicoin and Beenz failed because they were centralized, and had investments in the technologies and companies themselves. Bitcoin cannot fail, because the technologies were developed for free and they are decentralized and open source.
It may devalue to the point of buying pizzas with 10k BTC again, but it will never fail completely. Bitcoin can't file for bankruptcy.
It may devalue to the point of buying pizzas with 10k BTC again, but it will never fail completely. Bitcoin can't file for bankruptcy.
It can never go that low again, because people like me will buy them all up before they ever get that low.
I think some big important internet council somewhere needs to designate comic sans as the official sarcasm font of the internet.
^That was my reaction when I entered downside.com
And funny thing, OP says something about amateurs...
one thing is for sure, nobody on this forum is actually good at making money in the real financial market. If you are good, you would not be here, you would be managing portfolios and dishing out advice for wealthy clients while raking in huge consulting/management fees.
You can't make money in managing "debt", all you can do is accumulate more "debt". Duh!
an MMORPG
why does everyone make this mistake when it's clearly a
If you were pronouncing MMORPG as a word ("Morpga?") then you'd be correct.
However, reading the letters alphabetically, the phonetic "ehm" starts with a vowel sound, as opposed to B,C,D,G, etc. Same story for F, H, L, S...."
"It's a BFG" - correct
"It's an L-29" - correct
"It's a MMORPG" - incorrect
sorry but bitcoins have a use. Because of bitcoins I have a capability I did not have before. I can easily send money to someone in a random location on earth with NO logistics troubles other than getting their address. If you don't think that this marks a major turning point you are simply small minded.
Bitcoin is still an infant, there are big things to come.
Bitcoin is still an infant, there are big things to come.
Very, very true,
I agree for the most part: yes I think bitcoins are overvalued, they will go back down in price, most of the recent increase is speculation, etc. However, I think you fail to take into account the rabbid 'fanboy' nature of many people involved in bitcoin. They are so zealous about seeing bitcoin succeed, they often do irrational things to try to 'keep bitcoin alive', eg. mining at a loss, holding bitcoins to artificially reduce supply, buying bitcoins to keep the price afloat, accepting bitcoins for items at less than market value, etc. So while I think the price will come down perhaps significantly, I think there is a core of fanatics that will keep bitcoin afloat to some degree despite any rational reason for doing so as compared to stocks, etc. where people are merely in it to make money.
Just started reading the thread. This is the first post I have to quote, for posterity. I agree.
yep, definitely needs more animated gifs, scrolling banners and "click here" buttons.
Actually before seeing this "downside", I used to believe this one: http://web.archive.org/web/20040407003135/http://www.tecnilog-service.com/ was the worse site of internet.
Luckily the Web Archive hadn't store the java applets, in its "pure form" you could find there scrolling banners applets along with flash... it looks now definitely better that when it was live.
Took me 5 whole years to find worse, surely deserves an award...
Quote
Wow, Thats the 201th century! This guy is not only an expert in finance, but also owns a time machine! By the way, I am extremly worried about the ponzi scheme that will happen in 18000 years... Must reconsider my investment in Bitcoin due to this fact. 
You'd just ruining my day! Not only we come to find within 18000 years BTC will be a Ponzi scheme as we also found that 18000 years from now design will be that low Must reconsider my investment in Bitcoin due to this fact. 
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...
Really I think that site should be taken down. Whos with me?
What is with the terrible graphic at the left top? This site just screams financial professionalism to me...
Really I think that site should be taken down. Whos with me?
Take note of the last post in his amateurish blog, called:
"20011-06-11 - Bitcoin looks like a Ponzi scheme"
Wow, Thats the 201 th century! This guy is not only an expert in finance, but also owns a time machine! By the way, I am extremly worried about the ponzi scheme that will happen in 18000 years...
Must reconsider my investment in Bitcoin due to this fact. 
n/m
Lol, I don't do drugs 
.
And if I did I wouldn't buy them from silk road.
. And if I did I wouldn't buy them from silk road.
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.
So having access to non-inflationary common currency could've prevented a lot of misery.
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.
XLF, for one.
Really I think that site should be taken down. Whos with me?
Against!
I like to see mid 90's early frontpage-like sites. It reminds me of a time when I was much younger
(Missing my SEGA GameGear now... sigh!
)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.
yep, definitely needs more animated gifs, scrolling banners and "click here" buttons.
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