Topic: z (Read 3229 times)

I absolutely understand this! I'm not bitching about my nervous systems' malfunction. Like I said, "shit happens", and you work with it.

The Woo-Hoo part was just to add a sarcastic overtone to my boasting. 

It's like you want to put a cap on the value of trust? Everyone buys gold when they lose trust, and often their entire savings account to elite shenanigans. It's not irrational to move your wealth elsewhere when it's under threat. It's *2600* times more expensive to go to the cinema now than it was in the 30s, that's a lot of sum, what's sad are the folk who accept it.

If someone drops 50k to 100k coins they will get snapped up.

Check back in a week and see if you are still saying boo hoo. I'm holding mine.

I'm sorry that I don't get ecstatic, and start bragging about my "big loss"! So here's one for ya!
Just today I made the new high before the price went to $7.22. My finger twitched on the buy button, and I bought 200BTC @ $7.18 (I couldn't cancel it out in time).  I still haven't sold them yet. So, I'm losing right now. Awe shucks...er, I mean WOO HOO!   

Fabulous.  I don't have children and I don't wish to.
And for what it's worth, I wasn't trying to defend the OP by any means -- I was sorta being sarcastic.

If a merchant cannot figure out how to protect themselves against the BTC volatility at this point, there is little hope of them having the skills to run anything much more complicated than a hot-dog stand.  They would probably be better off flipping burgers rather than losing their money trying to run a business anyway IMHO.

I won't feed your troll post anymore. I suggest no one else here does either. I have done more for BTC in 1 month than you will ever do in your entire life, but I'm the one hurting it? I'm simply saying that you seriously don't "get it". This is not supposed to be some artificially controlled economy, like the US Dollar or the Euro. These currencies have countries regulating the value/production/destruction and everything you can think of to keep that price at a "stable" level like you wan't it to. You know what that makes? A FALSE economy, much like the one we are in right now IRL. Every country in the world is completly broke, yet they still have the "money" to stabilize their own bankrupt economies. I'm not necessarily anti fed reserve, and certainly not anti-government, but this fake money system that the entire planet has got going on, has got to fucking go... You sound like you want to bring the same artificial environment to Bitcoin.

My question is... Have you checked out Solidcoin?  They have an artificial economy, that keeps things "real stable". It might be exactly what you are looking for, but watch out, with any ARTIFICIAL ECONOMY, you always risk the chance of  GETTING BURNED.

Is this advocacy for pissing your money away at a casino?  Sure, it's exciting, but looking at all the sad saps pumping their pensions into poker machines all day I would hardly describe any of them as having the time of their lives.

Part of having a 'life' is leaving assets to your children so that they can live a better life than you did.  Yes, you can't take it with you.  My father will leave his house to me, which will greatly aid in paying off my mortgage.  I hope to leave my house to my children, rather than donate it slowly to a casino.

Which systems have you tried that aren't easy to use?  Because the ones that I've seen accept bitcoins over the network and deposit dollars into your bank account automatically.  I can't really imagine anything being easier than that.

Things are so much different now than they were on the first bubble.

1st. There is at-least triple times the users now holding BTC. Because of all the dumping, Bitcoins are now more evenly spread out, making the market much harder to manipulate.
2nd. There are multiple exchanges now, and Mtgox has really come a long way from the hacking (which was one of the triggers that sparked the great decline)
3rd.  Bitcoin is much better understood by the general population.

I actually think the best thing that could happen to us right now is a rally to $100, simply because the amount of users/attention it would generate, would help negate any possibility of a mass pump and dump.

You're right about it being like gambling.  But you're wrong about it being zero-sum.  It's only zero-sum if the price of bitcoin goes back to zero (or the market stagnates and dies).

Granted, it is pyramid-style funny money.  But so is everything else.  Companies on wall street generate profits, fine.  But that doesn't mean their shares aren't overvalued and can come crashing down at any time.  And have the gamblers on wall street ever learned their lesson?

Investments are a spectrum ranging from blatant con, to pump n dump, tulipmania or overhyped dot coms, unsustainability masked  by complexity (global financial crisis), bad ideas and good ideas, and unfortunate business ventures.  Humans aren't perfect and prescient, there's no way to know with absolute certainty what will transpire.  That's what makes markets as unpredictable as the future.

I see no reason to hold bitcoin "investors" to higher standards than any other capitalists.  Bitcoin and its market is as close to genuine generation (or preservation) of virtual wealth as one can get.  People have spent far more money on Farmville than they have on bitcoin.  Mark Cuban (to take one example) is only a billionaire because he traded a dot com for yahoo stock options and then sold them at the peak of the tech bubble.  Are these commonly respected norms equally disappointing to your righteous ethical principles?

Znort I feel your pain, but if you look at the 1 month Bitcoin chart, we have had decent stability up until the New Year

I suspect we will retrace back within a week. Things will stabilize, we will learn from our last bubble to $30, fingers crossed.

If you take this to the long term conclusion, bitcoins are not currently in the position where they can offer much other than speculative demand. For it to be a trading tool, you're right that it needs to be stable - no one wants to accept 1BTC for a house, when tomorrow it could be worth half a house before they can offload it.

There are tons of businesses now willing to accept bitcoins, but it's superficial acceptance. How many of them trade only in bitcoins? If the only way to access a good is via bitcoins, then the value of bitcoins is in being the only way to access this or that. Same thing that makes the USD valuable.

I know the superficial will grow until it's possible to live only on bitcoins, but that takes a long ass time, and there are tons of challenges before it gets to that. For now, the pioneers are here, and speculation is concomitant with them.

i think we're far from that to worry about it yet.
best thing Joe six-pack can do right now buy some and hold for a few decades

when we'll have huge depth and volume  things will be more 'stable'

Funny.  You say that I'm wrong, but then you edit out part of my post, and the part that you actually respond to is the part that you cut.  I put it back, so you can see where you went wrong.

Your immediate goal is to reduce exchange volatility risk.  Already done.  There are like a half dozen services that will do this for you, or you can do it yourself using any exchange with a half-decent API.

Know what the number one cause of death is?  Life.
You can play life safe, sit around and do nothing and you won't have anything to show for how you lived.
What does it matter anyway? -- you can't take any of it with you.  I see that point.
But I'd rather live with some degree of excitement.

Stop trying to artificially manipulate the market or the price. This is the INTERNET, and the SKY'S the limit. Bitcoin was never meant to be a "stable" currency anyways. It just is, and if you can't except it for what it "is", then I suggest you continue to do your research, and try to understand BTC a bit better.

these so called 'gamblers' provide liquidity plus beta-testing the system, if they able to go home with gains - more power to them. the network will balance itself out anyway

I lose some once in a while. I'm okay with that as well. The way I play, I have a great chance of changing positions before I'm stuck. The main thing that I fear is someone dumping 50k-100k coins. Moving the price straight through and far past my buy orders, leaving me with a bunch of overpriced coins. But hey, shit happens, and that is something I was fully aware of coming into this.

I find it extremely unlikely that you actually desire a stable exchange rate.  What you really want is something else, and you think that a stable exchange rate gives you that something else.  So, what do you really want?