Quote from: mjcmurfy on October 23, 2011, 03:31:32 PM

Quote from: cypherdoc on October 23, 2011, 03:24:45 PM

how hard is it to respond to that question? sometimes it pays to follow the speculators, sometimes not. this is a personal judgment based on what each individual feels they know about the underlying technology.

you can choose to be a momentum follower for Bitcoin or not. i can choose not to be and be a contrarian to the recent price fall. if the price starts to ramp up again, then yes, i'll become a momentum follower as i believe the fundamentals of Bitcoin support a further price rise.

stop acting like you're so smart.

cypherdoc: I don't speculate on what other speculators will do.
mjcmurfy: that's bullshit. what do you speculate on then?
cypherdoc: how can i possibly answer that? stop acting so smart.

It's quite easy. Just tell me what it is you are speculating on if you aren't speculating on metrics that are directly related to the decisions of other speculators? It's only difficult to answer if you were lying, or didn't fully understand what you were saying, and now realize that you cannot answer the question without invalidating your original statement.

Either way, this only highlights and reinforces the assumptions I already have.
So, keep trying, or else stfu.

ok, if you insist i'll trot out all the fundamental positives that many here on this forum have already elucidated a thousand times. i speculate or invest in Bitcoin based on those fundamentals for the following reasons:

1. the first sourcecode that prevents file copying while allowing public access.
2. that same sourcecode that has created a blockchain of financial data that still exists 3 yr since its evolution and has resisted all forms of attack.
3. a stable rate of inflation thats diminishes with time and eventually goes to zero.
4. a protocol which could eventually be used as a currency if a Bitcoin is perceived as a stable store of value.
5. a dedicated group of devs that work for free in supporting and advancing the innovations of this same code.
6. a continuous appearance of new technologies and implementations surrounding Bitcoin. i won't bother to list them all b/c there's alot.
7. a sourcecode that could be used as a different form of gold standard for the USD. that is, a fixed supply commodity/currency whatever you want to call it, that the existing USD fractional reserve system could be upon in a rigid 10:1 ratio. PM's IMO are too difficult to fulfill that role. this one will generate all sorts of howls i'm sure but this is how i see best Bitcoin being used.
8. the fact that i think the Bears on this forum are wrong
9. that fact that i do have Libertarian tendencies and wish to express that outlook by supporting at technology that will hopefully change the system for the better.
10. i believe in open source projects and the many examples of how well these have played out the last 10 years.

howl away.