Topic: Who else sold out? (Read 6720 times)
i sold out at 6 btc/usd if you're wondering... traded 2 btc @ 6 USD since i'd figure i won't even get 5 dollars for them.
There's no way it's going under $2.
It's been there before. I believe it's going there again, based on market fundamentals. I've ranted enough about it in Economics and Speculation, so I won't repeat it all here.
There's no force that holds it over $1 (other than a bump in market support that will make it hover there for a few days), and there's no reason it becomes useless at that point. There was a small but successful BC economy when it was a small fraction of a dollar.
It exists.
It's not usable.
And apart from my own ?coin idea, I see no other uses for NMC other than a secure .tld
I'm honestly curious what other use NMC would serve besides a .tld?
It's not usable.
And apart from my own ?coin idea, I see no other uses for NMC other than a secure .tld
I'm honestly curious what other use NMC would serve besides a .tld?
It's usable, it's just not user friendly (understatement of the century, but hey).
IIRC, Namecoin simply stores key/value pairs - you could use it for all kinds of things, like a public crypto-verified mailing address, storing encryption public keys (so you needn't trust a keyserver)... there's all kinds of uses for such a scheme.
I sold about 1/3 at 8+ and i wish I had dumped all... oh well.
*hypothetical uses
the .bit tld is sill just an idea.
the .bit tld is sill just an idea.
The .bit tld exists. Having low adoption doesn't make it "hypothetical". Also you can register any type of name/value data you like, not just domain names.
It exists.
It's not usable.
And apart from my own ?coin idea, I see no other uses for NMC other than a secure .tld
I'm honestly curious what other use NMC would serve besides a .tld?
*hypothetical uses
the .bit tld is sill just an idea.
the .bit tld is sill just an idea.
The .bit tld exists. Having low adoption doesn't make it "hypothetical". Also you can register any type of name/value data you like, not just domain names.
Sold everything a $8. Lost confidence? Never really had it.
Sold: Yes
Lost faith: Yes
I don't believe anymore that Bitcoin will become a widespread medium of exchange so I sold all my remaining BTC for NMC. Namecoin has the same economic and technical flaws as Bitcoin but I believe it is better suited as a store of value because of its uses outside being a currency.
Lost faith: Yes
I don't believe anymore that Bitcoin will become a widespread medium of exchange so I sold all my remaining BTC for NMC. Namecoin has the same economic and technical flaws as Bitcoin but I believe it is better suited as a store of value because of its uses outside being a currency.
*hypothetical uses
the .bit tld is sill just an idea.
Sold: Yes
Lost faith: Yes
I don't believe anymore that Bitcoin will become a widespread medium of exchange so I sold all my remaining BTC for NMC. Namecoin has the same economic and technical flaws as Bitcoin but I believe it is better suited as a store of value because of its uses outside being a currency.
Lost faith: Yes
I don't believe anymore that Bitcoin will become a widespread medium of exchange so I sold all my remaining BTC for NMC. Namecoin has the same economic and technical flaws as Bitcoin but I believe it is better suited as a store of value because of its uses outside being a currency.
...might as well move along.
My sentiments exactly...
It is a sign of economic activity in general though. The stats for me show there are more purchases when the exchange rate is higher. At a $7million market cap it means there's barely any activity, might as well move along.
At $4 the market cap is around $30million. Which is barely anything, meaning most have given up on the idea of bitcoin. That's all I was saying.
$2 means $15million $1 about $7 million.
Yes you can still use it as a payment method, however it means barely anyone is using it, so why use it that way? There's barely any customers.
$2 means $15million $1 about $7 million.
Yes you can still use it as a payment method, however it means barely anyone is using it, so why use it that way? There's barely any customers.
Uh, the USD value has never reflected how many people are using it as a payment method for actual goods and services. If it did, we'd certainly be blow $1...
At $4 the market cap is around $30million. Which is barely anything, meaning most have given up on the idea of bitcoin. That's all I was saying.
$2 means $15million $1 about $7 million.
Yes you can still use it as a payment method, however it means barely anyone is using it, so why use it that way? There's barely any customers.
$2 means $15million $1 about $7 million.
Yes you can still use it as a payment method, however it means barely anyone is using it, so why use it that way? There's barely any customers.
lrn2 store of value vs. currency.
Regardless of what bullshit is being spread here, Bitcoin is not a currency, it’s a payment method or USD proxy at best. Noone is being paid Bitcoins as wage. Noone accepts it for basic goods.
Store of value on a long-term scale it possibly is, depends mainly on the integrity of the core system and if it will indeed remain the dominant chain.
Regardless of what bullshit is being spread here, Bitcoin is not a currency, it’s a payment method or USD proxy at best. Noone is being paid Bitcoins as wage. Noone accepts it for basic goods.
Store of value on a long-term scale it possibly is, depends mainly on the integrity of the core system and if it will indeed remain the dominant chain.
Hey, I know it's a bullshit pump and dump, it's the fool I was replying to with my original insulting post and all of his ilk that I was addressing...
lrn2 store of value vs. currency.
Regardless of what bullshit is being spread here, Bitcoin is not a currency, it’s a payment method or USD proxy at best. Noone is being paid Bitcoins as wage. Noone accepts it for basic goods.
Store of value on a long-term scale it possibly is, depends mainly on the integrity of the core system and if it will indeed remain the dominant chain.
Regardless of what bullshit is being spread here, Bitcoin is not a currency, it’s a payment method or USD proxy at best. Noone is being paid Bitcoins as wage. Noone accepts it for basic goods.
Store of value on a long-term scale it possibly is, depends mainly on the integrity of the core system and if it will indeed remain the dominant chain.
But I ask you this: How is Bitcoin anymore important than the GDP of ENTIRE FUCKING NATIONS who's currency is denominated much lower than 1 USD?
lrn2 market cap, the units differ in scarcity.Relative to their respective economies?
LOL, lrn2 fail less.
But I ask you this: How is Bitcoin anymore important than the GDP of ENTIRE FUCKING NATIONS who's currency is denominated much lower than 1 USD?
lrn2 market cap, the units differ in scarcity. as it gets into this range the resistance gets higher and higher to go lower. Unless people completely give up on the idea of bitcoin I can't see it going much below $4.
Why?
Why can't bitcoin still have a vibrant economy and it be worth < $1?
I'll tell you why this is the perception: because Bitcoin has and always will be nothing but a bullshit pyramid scam, and people think that the price MUST be above $1 somewhere for bitcoin to be relevant.
But I ask you this: How is Bitcoin anymore important than the GDP of ENTIRE FUCKING NATIONS who's currency is denominated much lower than 1 USD?
Is Bitcoin more important than Japan's economy?
India's?
Mexico's?
Estonia's?
NO, NO OF COURSE NOT YOU GODDAMNED XXXXX.
as it gets into this range the resistance gets higher and higher to go lower. Unless people completely give up on the idea of bitcoin I can't see it going much below $4.
The price is only gonna go so low. I mean, there are still a lot of people who are interested in and use bitcoin. It's perfect for Craig's List-style trading. There's no way it's going under $2.
Well, let the real commerce begin. Can anybody make me a deal on some 26 x 1.5 bicycle inner tubes? I want about 10, if the price is right.
26"? Pfft. Real men ride 700c, peewee. Well, let the real commerce begin. Can anybody make me a deal on some 26 x 1.5 bicycle inner tubes? I want about 10, if the price is right.
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