EPTTL Store: Now accepting Bitcoin! - Page 4
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wei2coolman
United States60033 Posts
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niteReloaded
Croatia5282 Posts
Like, if you really wanna say you think it's gonna fall, you should say this: "based on my inability to predict the future, I still predict that bitcoins are gonna dwindle in popularity, while the odds exist that it will actually grow in popularity. These odds are also completely unclear to me, because there are billions of factors that affect this. But I will still choose to be a retardface and reduce this indecypherable seemingly-chaotic-but-still-perfectly-in-order universe using my state of the art homo-sapiens brain, and say --- "it's a bubble". fuck. just because something has been growing, doesn't mean it will suddenly start shrinking. it could die in 2 months, or it can become the biggest currency in the world in the next 10 years. Nobody can tell. | ||
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Targe
United Kingdom14103 Posts
On December 04 2013 03:40 robert1005 wrote: It's cool that you guys are accepting bitcoins now, but be carefull. when something goes wrong with these virtual currencies, there is nowhere where you can obtain your redress! Maybe it's a little offttopic, but thats how I think about this matter. they will have thought it through more than that at least | ||
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robert1005
Netherlands98 Posts
Maybe it's a little offttopic, but thats how I think about this matter. | ||
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fight_or_flight
United States3988 Posts
 Does TL have a regular btc address which can be donated to which isn't immediately converted to fiat? | ||
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canikizu
4860 Posts
On December 04 2013 03:37 niteReloaded wrote: anyone that says "it's a bubble" is pretty retarded. Like, if you really wanna say you think it's gonna fall, you should say this: "based on my inability to predict the future, I still predict that bitcoins are gonna dwindle in popularity, while the odds exist that it will actually grow in popularity. These odds are also completely unclear to me, because there are billions of factors that affect this. But I will still choose to be a retardface and reduce this indecypherable seemingly-chaotic-but-still-perfectly-in-order universe using my state of the art homo-sapiens brain, and say --- "it's a bubble". fuck. just because something has been growing, doesn't mean it will suddenly start shrinking. it could die in 2 months, or it can become the biggest currency in the world in the next 10 years. Nobody can tell. the definition of bubble is that it grows much bigger than its supposed to. If it takes the whole 10 years to become big then what's the point lol. On December 04 2013 03:17 wei2coolman wrote: Already calling it. TL gets fancy as fuck new servers after a year of accepting bitcoins. next week: TL store: now accepting Dota items. they will get their new server in a month. | ||
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Prophanity
United States165 Posts
On December 04 2013 03:37 niteReloaded wrote: anyone that says "it's a bubble" understands economics. Fixed your typo there. | ||
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govie
9334 Posts
On December 04 2013 03:37 niteReloaded wrote: anyone that says "it's a bubble" is pretty retarded. Like, if you really wanna say you think it's gonna fall, you should say this: "based on my inability to predict the future, I still predict that bitcoins are gonna dwindle in popularity, while the odds exist that it will actually grow in popularity. These odds are also completely unclear to me, because there are billions of factors that affect this. But I will still choose to be a retardface and reduce this indecypherable seemingly-chaotic-but-still-perfectly-in-order universe using my state of the art homo-sapiens brain, and say --- "it's a bubble". fuck. just because something has been growing, doesn't mean it will suddenly start shrinking. it could die in 2 months, or it can become the biggest currency in the world in the next 10 years. Nobody can tell. Ok, ill help! Lets say a bread costs 3 euro or 3 dollar today. Next month the same bread costs 8 times more, 24 euro/dollar. If that would happen, there would be civil war in ur village/town/city/country. People would literally fight to the death for a loaf of bread. Bitcoin rather, can do the same 8-fold rise in prices in a month out of the blue, based on nothing. Bitcoin has the problem that its manipuable by someone or something in a large scale, just like normal markets and currency (maybe even worse then the normal markets as seen in the 8-fold rise of the prices). I call bitcoin satanscurrency, because i can smell the pudge the banker wallstreetrot from here in the netherlands  I have no problems with wallstreet, trading or investing, but then u should not brand bitcoin like a honest trustworthy consumerproduct/currency which it certainly is not! | ||
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R1CH
Netherlands10341 Posts
On December 04 2013 03:47 fight_or_flight wrote: Thumbs up R1CH Does TL have a regular btc address which can be donated to which isn't immediately converted to fiat? We'd rather you buy something from the store or purchase TL+ instead of "donating"  . | ||
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niteReloaded
Croatia5282 Posts
On December 04 2013 03:48 canikizu wrote: the definition of bubble is that it grows much bigger than its supposed to. If it takes the whole 10 years to become big then what's the point lol. Ok, you tell me how much it's "supposed to" grow? Are you serious? Judging by your tone, you also understand economics. If it's so, tell me: 1) what will be the value of bitcoin in 30 days? 2) what will be the value of bitcoin in 365 days? | ||
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Incognoto
France10239 Posts
i'll get some and just do a lot of copy/paste i'll break the system (lol wtf are bitcoins relaly) | ||
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ensign_lee
United States1178 Posts
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niteReloaded
Croatia5282 Posts
On December 04 2013 03:56 govie wrote: Ok, ill help! Lets say a bread costs 3 euro or 3 dollar today. Next month the same bread costs 8 times more, 24 euro/dollar. If that would happen, there would be civil war in ur village/town/city/country. People would literally fight to the death for a loaf of bread. Bitcoin rather, can do the same 8-fold rise in prices in a month out of the blue, based on nothing. Bitcoin has the problem that its manipuable by someone or something in a large scale, just like normal markets and currency (maybe even worse then the normal markets as seen in the 8-fold rise of the prices). I call bitcoin satanscurrency, because i can smell the pudge the banker wallstreetrot from here in the netherlands I have no problems with wallstreet, trading or investing, but then u should not brand bitcoin like a honest trustworthy consumerproduct/currency which it certainly is not! I appreciate your attempt, but I don't think your example with bread is aplicable here. Bread is something everybody needs. (let's just read 'bread' as food) Nobody needs bitcoin. people choose to invest. At least compare it to something similar, otherwise it makes no sense. Compare it to gold if you want, or other currencies. | ||
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Noobity
United States871 Posts
I don't know, mangs. I'll be honest that I haven't done any research on bitcoins, but the general idea behind it strikes me as worse than the systems we're trying to get away from. I'd be a terrible person to debate with, and I'm abysmal with money. But I'm just incredibly wary. Good luck with it though, TL. Seems like little to no risk, and it's always good when a company improves on their model, whether nubs like me worry or not. | ||
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trada
Germany347 Posts
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ensign_lee
United States1178 Posts
On December 04 2013 04:00 Incognoto wrote: so bitcoin is stored on an hDD right? i'll get some and just do a lot of copy/paste i'll break the system (lol wtf are bitcoins relaly) No, actually. You store a wallet on an HDD or SSD, which basically is a key which allows you access to certain bitcoins. If you copy and paste your wallet, all your are doing is copying/pasting a key. You can still only spend those bitcoins once. To make an analogy, think of the key to those bitcoins as a key to a house. You can copy the key a bazillion times, but you haven't multiplied the number of houses; all you've done is make your house less secure since anyone with a copy of that key can get into your house. | ||
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fight_or_flight
United States3988 Posts
On December 04 2013 04:00 Incognoto wrote: so bitcoin is stored on an hDD right? i'll get some and just do a lot of copy/paste i'll break the system (lol wtf are bitcoins relaly) There is a really big file called a 'blockchain' which is stored by people who download the full client. It's like a huge vault made of glass, with a bunch of glass safety deposit boxes inside. You can see how much is in each box, but only the person with the key can open up the box and move the contents to another box. And as far as bitcoin being a bubble. A bubble is when the price of something is higher than what it is supposed to represent. Bitcoin is supposed to represent an alternative currency and payment system. The market cap right now is much lower than what it is supposed to represent, so it isn't a bubble in that sense. If you consider the amount of commerce in existence today, you could argue that it is overvalued and a bubble. But companies like newegg and tigerdirect are hinting at being interested on twitter. You have to understand that bitcoin has lower transaction fees than paypal or credit card networks. So these companies actually could save money if people switched to this system. The main question is if bitcoin or some other virtual currency will end up as the winner. So bitcoin is eventually either going to $0 or $100,000. With capital controls being put in place (eg, if you have a bank account with chase you can no longer do international wire transfers out of the country), with the IMF talking about capital taxes (taking a % out of everyone's bank account on some random day when no one is expecting it), with the new 'bail-in' paradigm where the money in your bank account isn't yours but the bank and you are a creditor of the bank and if the bank goes down your deposits go to keeping the bank afloat with no compensation like in Cyprus, with the NSA spying on all your financial transactions, with the IRS confiscating people's bank accounts at will because they didn't 'report' multiple 8 or 9k transactions, and with the amount of money printing going on right now, I'd say there might be a niche for an independent currency, so there are lots of reasons to think it might not be a bubble at the end of the day. Rather, just a disruptive technology. | ||
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niteReloaded
Croatia5282 Posts
On December 04 2013 04:46 fight_or_flight wrote: There is a really big file called a 'blockchain' which is stored by people who download the full client. It's like a huge vault made of glass, with a bunch of glass safety deposit boxes inside. You can see how much is in each box, but only the person with the key can open up the box and move the contents to another box. And as far as bitcoin being a bubble. A bubble is when the price of something is higher than what it is supposed to represent. Bitcoin is supposed to represent an alternative currency and payment system. The market cap right now is much lower than what it is supposed to represent, so it isn't a bubble in that sense. If you consider the amount of commerce in existence today, you could argue that it is overvalued and a bubble. But companies like newegg and tigerdirect are hinting at being interested on twitter. You have to understand that bitcoin has lower transaction fees than paypal or credit card networks. So these companies actually could save money if people switched to this system. The main question is if bitcoin or some other virtual currency will end up as the winner. So bitcoin is eventually either going to $0 or $100,000. With capital controls being put in place (eg, if you have a bank account with chase you can no longer do international wire transfers out of the country), with the IMF talking about capital taxes (taking a % out of everyone's bank account on some random day when no one is expecting it), with the new 'bail-in' paradigm where the money in your bank account isn't yours but the bank and you are a creditor of the bank and if the bank goes down your deposits go to keeping the bank afloat with no compensation like in Cyprus, with the NSA spying on all your financial transactions, with the IRS confiscating people's bank accounts at will because they didn't 'report' multiple 8 or 9k transactions, and with the amount of money printing going on right now, I'd say there might be a niche for an independent currency, so there are lots of reasons to think it might not be a bubble at the end of the day. Rather, just a disruptive technology. thank you | ||
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MaNGi
22 Posts
On December 04 2013 04:46 fight_or_flight wrote: There is a really big file called a 'blockchain' which is stored by people who download the full client. It's like a huge vault made of glass, with a bunch of glass safety deposit boxes inside. You can see how much is in each box, but only the person with the key can open up the box and move the contents to another box. And as far as bitcoin being a bubble. A bubble is when the price of something is higher than what it is supposed to represent. Bitcoin is supposed to represent an alternative currency and payment system. The market cap right now is much lower than what it is supposed to represent, so it isn't a bubble in that sense. If you consider the amount of commerce in existence today, you could argue that it is overvalued and a bubble. But companies like newegg and tigerdirect are hinting at being interested on twitter. You have to understand that bitcoin has lower transaction fees than paypal or credit card networks. So these companies actually could save money if people switched to this system. The main question is if bitcoin or some other virtual currency will end up as the winner. So bitcoin is eventually either going to $0 or $100,000. With capital controls being put in place (eg, if you have a bank account with chase you can no longer do international wire transfers out of the country), with the IMF talking about capital taxes (taking a % out of everyone's bank account on some random day when no one is expecting it), with the new 'bail-in' paradigm where the money in your bank account isn't yours but the bank and you are a creditor of the bank and if the bank goes down your deposits go to keeping the bank afloat with no compensation like in Cyprus, with the NSA spying on all your financial transactions, with the IRS confiscating people's bank accounts at will because they didn't 'report' multiple 8 or 9k transactions, and with the amount of money printing going on right now, I'd say there might be a niche for an independent currency, so there are lots of reasons to think it might not be a bubble at the end of the day. Rather, just a disruptive technology. THIS. And more i would say, because bitcoin can do whatever people will do with it, bitcoin are not stock. And the market fluctuate yes, but please look the curve at 6months or 2 year (http://www.bitcoinity.org/markets), this look like a fluctuation ? Or a giant growing ? +825% in 6 months... +38502.60% in 2 years... it's like saying in 1998 "online video game it's just a bubble, people will go away from it". or in 2002 "facebook and all this new web2.0 are just bullshit and people will forget quickly what is it" Value is rising crazy, because stock are limited, and china is now coming into play. Yes sure their is a lot of wanabee trader and stuff like this, but as a believer and user, let's me tell you bitcoin (cryptocurrency) is just the "normal" evolution of our world, we are in a fully open world, everybody travel, and everybody is using internet. The fact is : I'm communicating with people right now which i don't even know, from all over the world, on a language which is not mine, from thailand, to a US webserver, as a french. It's just the right time to have a international - internet currency. It's just time, and in 5 years when you will use a crypto currency to make a reservation for your holiday on an european website as an americain user without make anyconversion, With very low fee, in 5secondes, you will feel ashamed as a "child of internet" to thinking the way you think now. Because bitcoin is for us. For the previous generation like my parent, i don't even try to explain. Like internet they will it "naturally" when it's will become mainstream (when smart people, we make smart thing to make it more user friendly). I'm not telling you to invest into bitcoin, just to think about it. Think about this new technology, it's took me 3 months to understand their is no possibility of crypto currency will not change the world, dramatically or not. I don't want talk about politics :D | ||
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Oakenshield
United States347 Posts
On December 03 2013 22:37 Marcus420 wrote: we will be laughing when bitcoin doubles in price again Bitcoin supporters only talk about the profit a few of them made, and never talk about the thousands of hours and dollars wasted and lost. Or the times it's been hacked. Or the fact that almost no one accepts it except for a now defunct illegal drug trade website. I'm really shocked that Team Liquid would even want bitcoins, I imagine they got some kind of a special deal from the company. This isn't a criticism, just genuine shock. | ||
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