Quote from: Nagle on January 13, 2015, 05:07:29 AM

Quote from: Cluster2k on January 13, 2015, 04:08:18 AM

I'm always curious as to why people without bitcoin have 'no choice' but to buy bitcoins from the few that own them. There are plenty of businesses that may want to use bitcoin, but from a customer's point of view the only really compelling reason to own bitcoins is to buy something that's illegal or restricted in their own country. It's a valid use that cannot be denied, but it's a relatively small one.

Right. As I've pointed out before...

For those who don't know Nagle, here's some other stuff he's pointed out before....at almost exactly one-hundredth the current price:

Quote from: Melbustus on August 17, 2014, 07:58:40 PM

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Quote from: Nagle on October 21, 2011, 05:05:16 PM

Quote from: cypherdoc on October 21, 2011, 03:01:45 AM

Quote from: Nagle on October 21, 2011, 02:44:18 AM

We might see $3. After each big drop, there's been some recovery. But each top was lower than the last, and each recovery lasted no more than three days.

no one's listening to you.

Actually, I've received several private messages recently thanking me for keeping them from making a big financial mistake.

Now let's have a look at "cypherdoc"'s track record:

September 3, 2011: "while the falloff has been dramatic, it appears to be stabilizing around this 8-10 range. i keep accumulating on the way down. just give it time. they can't stop it."
August 4, 2011: "Re: $10,000 Bet that Bitcoins will outperform Gold, Silver by 100X !!! --- i happen to agree and i've staked my money on it!!!!"
July 9, 2011: "i will also bet any or all of you btc bears/trolls in this thread 100 BTC each to be held in escrow that the USD price of 1 BTC will exceed $20 in one year."

If he's telling the truth, he's lost a lot of money in Bitcoin. Anybody fool enough to listen to him did, too.

Those people you kept from "making a big financial mistake"....you actually prevented from making a 5000%-10000% return!

A few more quotes:

Quote from: Nagle on November 05, 2011, 05:36:49 PM

I've been saying "long slow slide" for months. That happened. Now we're seeing the endgame, which looks like the endgame for most penny stocks. The volume is low, around $50,000 per day. Some of that is 'bots running the same money back and forth; the actual volume out of the market is smaller. The price moves around whenever anybody makes a sizable transaction. I'm not expecting a big drop, just random noise with a long-term downtrend.

Bitcoin is now useless as a currency, because liquidating the day's receipts for one reasonably sized store would crash the market.

The end is coming not with a bang, but with a whimper.

Quote from: Nagle on November 03, 2011, 04:12:16 PM

...It's zombie mode, the fate of many startups. They're not going anywhere, they can't pay back their investors, but they generate just enough activity to keep alive.

And I just briefly looked at your post history cuz I remember your trolling from 2011. You have many months worth of posts predicting the "endgame" of bitcoin as a result of the 2011 ramp and fall. There are probably a good deal more blantantly wrong predictions/statements from you that one could dig up.

A couple interesting quotes, though:

Quote from: Nagle on November 04, 2011, 06:28:11 PM

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I'd like to see a digital currency that works well enough to compete with Paypal. I've seen Digicash, Beenz, and Flooz tank. Bitcoin isn't going to do much better.

Quote from: Nagle on October 25, 2011, 03:49:49 AM

...
Bitcoin's innovation is not that it prevents double-spending. That was invented by David Chaum in the 1990s and formed the basis of DigiCash. Nor is "mining" new; that's from Hashcash in the 1990s. Bitcoin combines the two concepts. The end result is a lot like Digicash, but distributed.

Despite the fact that you seem to realize that bitcoin is the first decentralized digital cash (and hence, the first *actual* realization of the efforts of all those early digital-money guys from the 80s and 90s; ie, their "holy grail" of money), you dump it into the same bucket as Digicash, Beenz, and Flooz. THAT is possibly the core source of your intellectual errors. Bitcoin is indeed not the first digital cash system. It's just the first decentralized one, and therefore, the first ideal money for modern times. That makes it a different beast entirely.