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aksfjh
United States4853 Posts
On April 14 2014 19:16 Chrono000 wrote: if anyone interested, blackcoin is going to the moon.......... if u got a bit exchange some for blackcoin now. Lol, a coin that is designed to be hoarded from the start? I'm sure this will turn out great... | ||
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oneofthem
Cayman Islands24199 Posts
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Chrono000
Korea (South)358 Posts
On April 14 2014 22:36 aksfjh wrote: Lol, a coin that is designed to be hoarded from the start? I'm sure this will turn out great... its down again but maybe this is a cheap price? people hoard gold. Whats wrong with hoarding? | ||
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Lord Tolkien
United States12083 Posts
Also, hoarding is the worst possible trait of a currency. You WANT the currency to slighty encourage people to spend. AKA you need an expanding money supply to meet economic activity (accounting for the velocity of money). | ||
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Chrono000
Korea (South)358 Posts
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Garmer
1286 Posts
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Chrono000
Korea (South)358 Posts
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Ender985
Spain910 Posts
http://www.wired.com/2014/09/paypals-support-is-the-best-thing-that-could-happen-to-bitcoin/ | ||
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remilina
2 Posts
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remilina
2 Posts
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bitcoin_realist
1 Post
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Cheerio
Ukraine3178 Posts
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aksfjh
United States4853 Posts
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DarkPlasmaBall
United States45857 Posts
The resolution of the Bitcoin experiment I’ve spent more than 5 years being a Bitcoin developer. The software I’ve written has been used by millions of users, hundreds of developers, and the talks I’ve given have led directly to the creation of several startups. I’ve talked about Bitcoin on Sky TV and BBC News. I have been repeatedly cited by the Economist as a Bitcoin expert and prominent developer. I have explained Bitcoin to the SEC, to bankers and to ordinary people I met at cafes. From the start, I’ve always said the same thing: Bitcoin is an experiment and like all experiments, it can fail. So don’t invest what you can’t afford to lose. I’ve said this in interviews, on stage at conferences, and over email. So have other well known developers like Gavin Andresen and Jeff Garzik. But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards. I will no longer be taking part in Bitcoin development and have sold all my coins. Why has Bitcoin failed? It has failed because the community has failed. What was meant to be a new, decentralised form of money that lacked “systemically important institutions” and “too big to fail” has become something even worse: a system completely controlled by just a handful of people. Worse still, the network is on the brink of technical collapse. The mechanisms that should have prevented this outcome have broken down, and as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system. Think about it. If you had never heard about Bitcoin before, would you care about a payments network that: -Couldn’t move your existing money -Had wildly unpredictable fees that were high and rising fast -Allowed buyers to take back payments they’d made after walking out of shops, by simply pressing a button (if you aren’t aware of this “feature” that’s because Bitcoin was only just changed to allow it) -Is suffering large backlogs and flaky payments -… which is controlled by China -… and in which the companies and people building it were in open civil war? I’m going to hazard a guess that the answer is no. ~ excerpt from https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.ykviw3dea (The whole article is much, much longer.) | ||
Kau
Canada3501 Posts
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KwarK
United States43977 Posts
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ShoCkeyy
7815 Posts
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Trainrunnef
United States601 Posts
On December 01 2017 08:03 KwarK wrote: Tulips gonna tulip. Talk about missing the boat, I got out during that whole market collapse fiasco a few years back, I cant even remember the market other than it started with a G. it was about $200 per coin back then... Edit: Mt Gox! | ||
Pandemona
Charlie Sheens House51493 Posts
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KwarK
United States43977 Posts
On December 01 2017 22:38 Pandemona wrote: Doesn't North Korea have something to do with it as well right. They practically banned by trading legit with anyone in money terms, so they gone into Bit Coin right? Are you saying the NK state is buying bitcoins to trade with Russia/PRC or that you think the NK people are using them? Because the latter seems very unlikely. | ||
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