You're wrong, actually. We as citizens are just as free to voice our views as Eich was to voice his. We're saying we disagree with his views. Are you trying to suggest that we be disallowed from that basic freedom?
Would that be the Greater Fool Theory? Or the notion that there's a sucker born every minute?
Generally speaking, if you find yourself going negative on something that a bunch of other people are enthusiastic about, the chances are fairly good that you don't understand it. That's not to say that Bitcoin is a stable market (it's not) but that there are probably many more variables contributing to the price than you are aware of.
I think you should re-read my statement. I believe you'll find that you are in error WRT what you think I said.
Dumb indeed.
In case you haven't noticed, the value of Bitcoin has dropped by more than half over the past three months. Between the MtGox scandal, the Bitcoin bans in Russia and China, and the draconian new IRS regulations
So what? BTC is a medium of payment. The businesses accepting BTC as payment are largely converting it into their preferred currency, so the volatility isn't very important.
I'm amazed that it's still trading in the $500 range.
Your amazement should be taken as a clue that you don't actually understand the Bitcoin market.
It sure as hell don't see it coming back to $1,000 soon, that's for sure.
See above.
Real coin has worked for thousands of years.
Yeah. And over those thousands of years, real coins have proved impervious to all manner of theft.
The real problem here is a non-governmental organization posing as a government organization
controlling the money supply and murdering presidents such as Lincoln and JFK who try to stop them.
Unless you have some tangible proof of that, I suggest you start taking your meds again.
If you're deep enough into economics-talk to be discussing the virtues and vices of a currency, you're deep enough in that you probably want to be careful about your meanings when talking about the source of a currency's value.
Keep tilting at that windmill, Don.
And there is nothing stopping the government from issuing gold dollars, or you from acquiring them.
I know this because I have a gold dollar. Interesting because the face value is currently ~1/1300th of the value of the metal.
I'm quite aware of that. And that gold dollar is legal tender. However, you'd be a fool to spend it for the face value.
And therein lies the rub: the value of that gold dollar is not fixed to the price of gold, at least not as legal tender.
Ever consider what the word "consume" actually means and how that's been twisted by the marketing types to imply that your experience of something implies that you've somehow, magickally used it up?
Ever consider not being a fucking pedant 24/7?
Ultimately, I don't really *care* if people like you believe in Bitcoin or not.
So really, you're waisting bandwidth trying to argue the point to me.
I think you are missing the difference so I'll try to explain.
thaylin knows exactly what the difference is, and is being deliberately obtuse in order to create a false equivalence.
Ah ha... so if I'm out at a bar, and somebody has their smartphone out and is say, checking their email, then I can object and have reasonable expectation that they put the smartphone away in their pocket or leave the bar?
You're being deliberately stupid in order to make a very dumb point. People using their smartphones rarely hold it at an angle that would put people's faces in frame unless they're taking a picture (or video).
Knock off the false equivalence. Nobody is buying.
Who said LED? There is a light, as you stated. When you use glass the light on the display will go off if you dont use it for a brief period of time. In addition I have to stare at what I want to record, both of those things would be very telling. Now I can do the exact same recording with my cell phone and you would have absolutely ZERO idea I am doing it.
And this is why we hate glassholes.
But what you are missing is that to the masses out there that BitCoin needs to keep buying into the base of the pyramid to make current Bitcoins worth anything in the real world
You're starting with the assumption that Bitcoin is a pyramid scheme. That makes the rest of your comment rather questionable, but I'll soldier on anyway.
MtGox is the onky exchange they have ever heard of, and first impressions may not be everything but they sure count for a lot.
Most of the mainstream population is barely even cognizant of Bitcoin. They're certainly not cognizant of MtGox. Or at least, they weren't until Monday, when reports of their insolvency started appearing in the mainstream media. Regardless, MtGox has not been the go-to exchange for over a year. That position has been taken over by a variety of other entities, some of which are true exchanges and some of which are just portals to buy Bitcoin. Even if "first impressions" were important here -- and I don't really think they are -- then we've been sounding the alarm within the BTC community for over a year that MtGox is NOT the place to go.
You guys who buy into this are missing the overall point - BitCoin has had more mainstream press over this than every before and it's all negative, terrible news.
Yes. And after every crisis, after every sudden dip in the USD/BTC exchange rate, Bitcoin has rebounded. It has continued to thrive. That's the really remarkable thing about Bitcoin, and why "us guys who buy into this thing" continue to believe that Bitcoin -- or something very much like it -- will be the future. We can see the potential, even if everyone else can't. And we're willing to risk money on it, even though we could very well lose it all. We are betting, in essence, that Bitcoin will be a success. And we're putting our proverbial money where our mouth is.
And that's a point that you all who don't buy into this are missing.
Most folks aren't going to get involved enough to see if your statements are correct - the bad kid in school has misbehaved, and that's the one that will be remembered.
You're arguing that Bitcoin is bad because it has an image problem. Firstly, so what? Secondly, what's to be done about it? Nothing, that's what. A bad actor did something stupid and some people lost some money. We've all learned from this experience, and Bitcoin is stronger for the loss of MtGox.
Without folks continually pumping real legal tender into the BitCoin system it's worthless.
Kind of like gold.
Actually, exactly like gold.
The only reason it didn't drop totally yet is that the believers are buying up what people are selling who are getting out. Thinking they are going to pick them up now before they rise again. The truth is, it's not going to rise again because the only folks who are going to get involved now are the ones who are already in the thick of it - and without new blood bringing real legal tender to the table, it can only last so long with the already-in folks trading amongst themselves.
It has already largely recovered to it's pre-MtGox-meltdown level. So you're wrong. Just like it has always recovered before. If the (brief) history of Bitcoin has taught us anything, it's that underestimating the resilience of Bitcoin is a losing bet.
HODL!
with the USD PetroDollar being a world standard reserve that means the same thing except instead of gold it is petroleum oil
Your statement would be meaningful, if only it were true. Or meaningful. It is neither. It would be necessary for the cost of a barrel of oil to be fixed to a static USD rate for your statement to be true. Since the price of oil clearly fluctuates on a regular basis, you're basically spouting a bunch of shit.
The biggest difference between time and space is that you can't reuse time. -- Merrick Furst
