Quote from: RogerR on July 16, 2011, 09:16:12 PM

Quote from: Synaptic on July 16, 2011, 08:36:07 PM

Quote from: Casper Hornstrup on July 16, 2011, 08:16:48 PM

Quote from: Synaptic on July 16, 2011, 07:59:37 PM

I'm not predicting the long term success of bitcoin I'm telling you that the market value relative to other currencies will continue to shrink until it reaches it's highest sustainable point somewhere below $10 and above $0.01. You're just twisting my observations relative to your own worthless antithetical agenda.

Bitcoin can be "successful" by a number of measures, yet still have little to no value in real currencies.

How do you arrive at those numbers?

Any valuation above relative parity with USD/EUR/AUD/GBP etc. is extremely suspect as there are absolutely zero real reasons for it to be above parity.

A number of people have mentioned how great BTC are for international currency transport and exchange and they're correct, though this use doesn't require any valuation higher than relative parity with the strongest currencies; In fact it still works perfectly fine at 10:1 or even 100:1, the only reason for it to be higher is greedy miners hoarding to artificially restrict supply.

It's just patently absurd to say that BTC has any value above the strong fiat currencies that have the GDP of ENTIRE FUCKING NATIONS behind their value, and bitcoin has absolutely jack shit. The only reason for it to hold parity is for conveniences sake anyway.

So why did I even suggest anything above parity in the first place, say, below $10? Because bitcoin speculators are still idiots and the die hards will still inject paycheck after paycheck into the market hoping to extract some small profit. So my wild variance between $0.01 and $10 is solely because I honestly have no idea how tenacious these idiots are, or exactly how many of them are stupid enough to continue to artificially inflate the value long term.

But one thing is certain and that is that the super-fantastic cryptoararchojerkoffism inherent to the design of bitcoins is a FAR fucking cry from the economic value of the GDP of motherfucking NATIONS that floats their fiat value to where it exists today, and that all the bitcoiners who believe otherwise are fucking fools. liberal vulgarity included for emphasis

Okay Bob. May I call you Bob? I like to call you Bob.

Here's the deal. Bitcoin has no inherent value. It is a merchantilistic item of trade for whom people are willing to pay a price. The total of all those prices willing to be paid somewhat constitute the market value demand side. Then you have the market value supply side, which gets defined by the amount of bitcoins available for sale. This supply side may grow or shrink here or there a little bit, depending on what the miners and/or long-term investors had for breakfast. Do you have any idea of what would happen to the value of bitcoins if just one large investor decided it would be a riot to just purchase 20mio bitcoins for a dollar? Even if you never had more than twice the 200k bitcoin adaptors we have as of now, you'd have no more than 2.5 bitcoins available per person on average - and every time those guys like to make a 100$ transaction, they will either have to buy more bitcoins or drive up the price to $40, at which point the large investor could just attempt to slowly release 1mio of his coins (thus doubling the supply side, lowering the price to $20) just to receive his initial investment back, while still still sitting on 19mio more bitcoins!

Now look at the amount of ongoing daily transactions, the amount of people doing those transactions, and the amount of possible large investors. They exceed $100, 400k people and 1 by far!

So go ahead, keep pushing your agendas - but the only absurd idiot in this forum is you. All the more so for calling people names, while actually attempting to justify a realistic sub-parity dollar denominated bitcoin valuation on the grounds of openly rigged GDP data, which is dollar denominated by nature to begin with! God be with you if we ever saw a large USD crash. You could consider yourself lucky if you even were to receive a single bitcoin for your monthly dollar paycheck then.

Now please do yourself and all of us a huge favor - go educate someplace else.

No, you can call me Synaptic. Why the fuck would you call me Bob, Mr. Cunt? Do you mind if I call you Mr. Cunt?

I almost can't even begin to approach the HUGE fallacious logic in your post. Your numbers don't even make any sense! In fact, I can't be bothered and hopefully some other poster who cares to correct you will do so, because I'm happy to let the rest of the audience try to make sense of your stupidity themselves. I'm sure you'll attack me for that. HURR, SEE YOU CAN'T DO IT HURR.

One glaringly hilarious number you threw out is 400k people?

LOL... I'm not even going to ask how you can justify that number, because anyone who understands Bitcoin knows exactly where you assumed to pull that number from and will know how full of shit you are.