EPT
Bitcoin discussion thread - Page 27
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Pandemona
Charlie Sheens House51493 Posts
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0x64
Finland4628 Posts
This kind of "crash" provoke sales from weaker holders, this is known psychological effect that people don't feel like selling while the sit on a huge win or on a loss, but when there win starts to fall, they will prefer to sell for a small gain and that's were better trader make huge profits. Anyway, sadly this is not the last time than the price will vary so dramatically, not for the faint of heart... | ||
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Chrono000
Korea (South)358 Posts
News: - Croatia considers BTC legality - Talks about Cyprus being the world BTC Hub - Switzerland talks of BTC being foreign Currency - Paypal President owns BTC - Sweden Opens BTC ATM And a whole lot more. | ||
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Pandemona
Charlie Sheens House51493 Posts
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Incognoto
France10239 Posts
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radscorpion9
Canada2252 Posts
Crowdfunding murder with bitcoins Apparently its run by a crypto-anarchist who wants to destroy "all governments, everywhere" by providing a platform for would-be hitmen to prove their mettle and collect bounties (they have to provide proof they did it somehow). So far Ben Bernanke has the highest bounty; as of the date that the forbes article was published, using the exchange rate from bitcoins to dollars, its at $75,000; which is still small but not insignificant. I thought I'd share an interesting quote on how this man thinks: I believe it will change the world for the better," writes Sanjuro, "thanks to this system, a world without wars, dragnet panopticon-style surveillance, nuclear weapons, armies, repression, money manipulation, and limits to trade is firmly within our grasp for but a few bitcoins per person. I also believe that as soon as a few politicans get offed and they realize they've lost the war on privacy, the killings can stop and we can transition to a phase of peace, privacy, and laissez-faire. Dark but interesting times! | ||
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Gorsameth
Netherlands22451 Posts
On December 11 2013 06:08 radscorpion9 wrote: Did you guys hear about the new assassination market that's forming recently? I heard it on the radio this morning and found a link on Forbes: Crowdfunding murder with bitcoins Apparently its run by a crypto-anarchist who wants to destroy "all governments, everywhere" by providing a platform for would-be hitmen to prove their mettle and collect bounties (they have to provide proof they did it somehow). So far Ben Bernanke has the highest bounty; as of the date that the forbes article was published, using the exchange rate from bitcoins to dollars, its at $75,000; which is still small but not insignificant. I thought I'd share an interesting quote on how this man thinks: Dark but interesting times! Meh just a troll. | ||
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radscorpion9
Canada2252 Posts
I'm surprised its so easy to dismiss as a fake. There are all sorts of crazies out there, I think it could be real | ||
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Jormundr
United States1678 Posts
You would realize how wrong you were if you had ever been on the silk road. In most major cities heads rolled for between $5-10,000. | ||
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magicmUnky
Australia280 Posts
I have only performed a few bitcoin transactions but so far my experience is very positive. It is more convenient and more transparent, to me, when I spend my bitcoins than it is with real money. I like that kind of security. I guess my problem with bitcoins revolve around the mysterious genesis of bitcoin.... what happens with that first million bitcoins? It's also an awkward currency to use... since we'll probably have to start using microbitcoins before long (despite the big swings in the bitcoin/usd market, the trend is still very much upward as far as rolling year/year averages go). I like litecoins more than bitcoins but I'm not sure if internet-town is big enough for both of them as transactional currencies. | ||
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Chrono000
Korea (South)358 Posts
On December 11 2013 06:08 radscorpion9 wrote: Did you guys hear about the new assassination market that's forming recently? I heard it on the radio this morning and found a link on Forbes: Crowdfunding murder with bitcoins Apparently its run by a crypto-anarchist who wants to destroy "all governments, everywhere" by providing a platform for would-be hitmen to prove their mettle and collect bounties (they have to provide proof they did it somehow). So far Ben Bernanke has the highest bounty; as of the date that the forbes article was published, using the exchange rate from bitcoins to dollars, its at $75,000; which is still small but not insignificant. I thought I'd share an interesting quote on how this man thinks: Dark but interesting times! wow super interesting. not saying this is good or bad but a site/service like this can very easily exist now with free flow money. i can only think of one result distribute the power. no more one guy show and no more small group of elites controlling everything in the dark. running a site like this has too many floors anyway. proof of killing would be extremely risky and near impossible to prove without exposing yourself to getting caught. also the site is obviously centrally controlled which is a point of weakness for anyone contributing, running and using this site. | ||
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magicmUnky
Australia280 Posts
You condone assassination now? I'd say that the guy is deranged. Paying assassins isn't really much easier with bitcoin than it is with cash; the deterrent has been and always will be the response by law enforcement. It's also very amusing to see someone using the threat of violence as a means to supposedly stop the threat of violence. : / | ||
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Disregard
China10252 Posts
I'm just skeptical of how long BTC will survive but it seems to be getting a lot of support so if it becomes recognized I'll just be that jealous guy missing out when BTC was a considered a fluke. | ||
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Chrono000
Korea (South)358 Posts
On December 11 2013 18:55 Disregard wrote: Its going to be a long time till BTC stabilizes considering how can you legalize a form of currency that can go from 400$ to 1000$ in a matter of a couple of days? Also easy offshore and way to hide money in the future, I mean even legal tender is difficult to keep track of now you're introducing even greater autonomy. I'm just skeptical of how long BTC will survive but it seems to be getting a lot of support so if it becomes recognized I'll just be that jealous guy missing out when BTC was a considered a fluke. its pretty normal for things starting out to be up and down like this. like stocks as the price gets higher the stability will be more and more obvious. for example first time investors put in 1$ and the stock goes up to $10000000000. Because the price is so high now new people putting in an average of $1000 wont move the price at all. if a few first time investors take out all of there stocks price movement will be more obvious but only maybe 2-5% | ||
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Shival
Netherlands643 Posts
On December 11 2013 20:30 Chrono000 wrote: its pretty normal for things starting out to be up and down like this. like stocks as the price gets higher the stability will be more and more obvious. for example first time investors put in 1$ and the stock goes up to $10000000000. Because the price is so high now new people putting in an average of $1000 wont move the price at all. if a few first time investors take out all of there stocks price movement will be more obvious but only maybe 2-5% That's why for new stocks they get a certain fixed price before going on the stock market. It may still be quite volatile for a couple of days, but nothing like bitcoin has behaved over its past 3 years. | ||
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Chrono000
Korea (South)358 Posts
On December 11 2013 21:12 Shival wrote: That's why for new stocks they get a certain fixed price before going on the stock market. It may still be quite volatile for a couple of days, but nothing like bitcoin has behaved over its past 3 years. btc is the wild west just like how the internet used to be the wild west when first accessible to public. viruses, no security, scams and mostly porn. oh the good old days of waiting 10 minutes for a pic to load. | ||
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Shival
Netherlands643 Posts
On December 11 2013 22:46 Chrono000 wrote: btc is the wild west just like how the internet used to be the wild west when first accessible to public. viruses, no security, scams and mostly porn. oh the good old days of waiting 10 minutes for a pic to load. Indeed, which is not to say that cryptocurrencies are doomed to fail, its just that I'm very, very wary of the same bubble into crash that internet endured. | ||
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BakedButters
United States748 Posts
The argument is that no one will invest, since it's more profitable to hoard than to risk investing. But if no one invest, then the value of the currency wouldn't increase. The value of units of a deflationary currency grows because the number of products and services in the economy increases, while the units of money stays the same, meaning you could buy more food for less money because more food was produced. But if no one invested, there wouldn't be any additional products and services and so the currency would stay the same value. Hence, deflation is a true measure of productivity. So the market will find an equilibrium between investments and savings. If everyone saves there would be no benefit to saving anymore. As for borrowing, today's lenders build in an extra ~2% to interest rates to account for inflation. But if bitcoins were were to gain 2% value a year, then lenders would just subtract the interest rates by 2%. The so called economic "growth" would be less but we get more sound investments since one has to compete with the deflationary currency/ savings. In an inflationary economy, one is encouraged to spend and be in debt, which only benefit the banks who make money off the interest rates. In an deflationary economy, people will spend their money carefully, on things they truly want, and this will shift the job-sector and competition towards things which people deem necessary. | ||
The_Templar
your Country52798 Posts
On December 11 2013 18:55 Disregard wrote: Its going to be a long time till BTC stabilizes considering how can you legalize a form of currency that can go from 400$ to 1000$ in a matter of a couple of days? Also easy offshore and way to hide money in the future, I mean even legal tender is difficult to keep track of now you're introducing even greater autonomy. I'm just skeptical of how long BTC will survive but it seems to be getting a lot of support so if it becomes recognized I'll just be that jealous guy missing out when BTC was a considered a fluke. I don't think it's a legal problem, but a 150% increase is freaking huge when a 20% reduction in stock is considered a crash. | ||
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c0ldfusion
United States8293 Posts
On December 11 2013 07:28 Jormundr wrote: You would realize how wrong you were if you had ever been on the silk road. In most major cities heads rolled for between $5-10,000. That's just media hype right? Any proof of assassinations actually completed? | ||
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