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Showing 20 of 73 results by schizoid
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 21/08/2015, 12:49:54 UTC
I think it's 'peak turd' for at least another 5-10 years. Then she'll start to dabble in scientology, go fat and mad and move to a shack in the wilderness. Her 2039 comeback will be a sensation as she performs remotely from a forest clearing and she'll tragically be eaten by a bear in front of billions of viewers. Then you really make bank.
Get a dated certificate of authenticity now. Turds from her hot years will be worth more.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 21/08/2015, 12:43:33 UTC

I'd sell it now. In the long run people will be saying "Taylor who?"


You have a point, but I think it's worth keeping in pride of place in a glass cabinet for a few years yet.

Taylor Swift poop is a scarce commodity.
Pooping at max capacity, there is only so much poop Taylor can create in her lifetime.  If every person on earth wanted to own *just one* mason jar of Taylor's poop, there wouldn't be enough to go around.
Supply and demand, Econ. 101, you figure it out.
CCMF!
PPMF!
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 21/08/2015, 12:33:35 UTC

I'd sell it now. In the long run people will be saying "Taylor who?"


You have a point, but I think it's worth keeping in pride of place in a glass cabinet for a few years yet.
You're probably right. I suck at market timing.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 21/08/2015, 12:30:33 UTC

You cannot use something as a store of value if it is not in fact valuable. If you could I would use my poo as a store of value and be a rich man.

How good is Bitcoin at conducting electricity?  Or is it great for making pipes?
No, but you can use it to buy drugs on the internet or place ads on Backpage.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 21/08/2015, 12:27:31 UTC

You cannot use something as a store of value if it is not in fact valuable. If you could I would use my poo as a store of value and be a rich man.


If you could purchase a certified heap of Taylor Swift's dung along with a video of her producing it I think you'd probably do rather well in the long run.
I'd sell it now. In the long run people will be saying "Taylor who?"
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 21/08/2015, 12:10:06 UTC
Copper is a better conductor than gold, and it's lighter. Gold doesn't corrode. So only if you're concerned about corrosion, you'd go for gold. In all other cases, you go for copper. Hence, you'd expect gold to be cheaper than copper if both are equally abundant and gold isn't used as store of value.
I've been told by a metallurgist that for wire gold plated copper is best, but for things like pipes where you care about corrosion gold rules. Now compare the weight of the average pipe to the average wire and tell me again why gold should be cheaper.

You cannot use something as a store of value if it is not in fact valuable. If you could I would use my poo as a store of value and be a rich man.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 21/08/2015, 10:54:38 UTC
I'm just pointing out that even with not so many transactions, you don't simply "die" - and evidence of that is the marketcap and mobility of gold, because bitcoin is not simply a payment system, but also a store-of-wealth system.
Gold is a store of wealth because it's a metal with very useful properties. If it were cheap everything made out of copper would be made out of gold instead, but there isn't enough gold to do all that, so it can never be cheap.

Bitcoin is only a store of wealth as long as it's the coin everyone uses. Intrinsically it's no better than the hundreds of other coins out there. If you cap it, it will no longer be the coin everyone uses, because caps by their very nature exclude people. So its value will fall, and whatever altcoin people start using instead will become the new dominant coin.

AlexGR is correct that bitcoin cannot scale to cover the entire global population, but it can scale much bigger than it is now, and if it does not, some other coin will.

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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 19/08/2015, 22:28:24 UTC
Scaling to 56 transaction per second by forcing doesn't magically increase the market cap either.
Nice strawman.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 19/08/2015, 21:30:57 UTC
We are going down from 280$ to 220$ in less than 10 days because two shills want to prove their might by forking bitcoin?

The answer from community is clear now, Gavin & Mike ?
No, we're going down because investors are starting to pay attention and realize that a coin capped at 2-3 tps does not deserve a $3 billion market cap.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 19/08/2015, 13:02:40 UTC
you got that wrong my friend, if the miners switch to the new client, exchanges wont have any other choice but to follow, because the old chain will be dead..
Not really, because new miners can jump in and resurrect the old chain. There was a recent case of an altcoin, I don't remember which one, which tried to hard fork but couldn't because the one exchange it traded on stubbornly refused to go along.

That might be an issue for a small network, where one player may have the power to do so, but as Phil Potter from Bitfinex said, "we will see what our competitors are doing, if there is a consensus, we will follow it'

tl;dr  This is not about taking sides, its about following the money.
It doesn't matter if it's one player or a consensus of players; the result is the same. If there is consensus among exchanges to stay on Core, then Core will win, no matter what miners do.

XT'ers shouldn't be lobbying miners directly. They should first lobby the node operators, then the exchanges and payment processors. If they win those two battles the miners will follow.

Why would there be such a consensus? Is there someone out there offering free lobotomys for exchange CEOs?
It's hypothetical. I was responding to mmitech.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 19/08/2015, 12:41:36 UTC
you got that wrong my friend, if the miners switch to the new client, exchanges wont have any other choice but to follow, because the old chain will be dead..
Not really, because new miners can jump in and resurrect the old chain. There was a recent case of an altcoin, I don't remember which one, which tried to hard fork but couldn't because the one exchange it traded on stubbornly refused to go along.

That might be an issue for a small network, where one player may have the power to do so, but as Phil Potter from Bitfinex said, "we will see what our competitors are doing, if there is a consensus, we will follow it'

tl;dr  This is not about taking sides, its about following the money.
It doesn't matter if it's one player or a consensus of players; the result is the same. If there is consensus among exchanges to stay on Core, then Core will win, no matter what miners do.

XT'ers shouldn't be lobbying miners directly. They should first lobby the node operators, then the exchanges and payment processors. If they win those two battles the miners will follow.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 19/08/2015, 12:06:58 UTC
you got that wrong my friend, if the miners switch to the new client, exchanges wont have any other choice but to follow, because the old chain will be dead..
Not really, because new miners can jump in and resurrect the old chain. There was a recent case of an altcoin, I don't remember which one, which tried to hard fork but couldn't because the one exchange it traded on stubbornly refused to go along.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 19/08/2015, 11:51:19 UTC
Anyway, XT altcoin fork is dead now.
If you own bitcoin, you'd better hope not. The only thing holding the price up is the hope that the block size will somehow be increased. If bitcoin can't grow, it's a shitty investment and it's way overvalued.
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Re: Automated posting
by
schizoid
on 04/02/2015, 06:43:15 UTC
Drifting down again, I miss 2013. What will give this price a kick?

Lawsky needs to shit or get off the pot.
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Re: Bitcoin license moves step closer with N.Y. bank draft
by
schizoid
on 18/07/2014, 23:04:01 UTC
Without the exemptions that's "everyone who uses bitcoin needs a license" - since it's not just if your thing is based in the state, it's if you're involving a new york resident at all.

How does that square with court rulings saying that state law only applies to businesses with a physical presence in the state? If New York can't make out of state businesses collect sales tax, how can it make them get a license?
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 17/04/2014, 13:01:49 UTC
How many loop holes can these Chinese exchanges find to keep operating though? Doesn't it seem inevitable that they will be forced to close down once they run out of lives?

I wish bitfloor had fought this hard when their bank account was closed.

remember who was behind it you will understand

Thats what I thought, someone who keeps their customers assets probably wasnt rushing to fight to stay open...

The money left on the exchange was eventually returned through IAFCU.

I know I know, I was more thinking in terms of the 'hack' where 20000BTC disapeared though.

Yeah, that made me wary of using the exchange but it was oh so convenient. But eventually I pulled my money out and moved it to that flakey and more expensive other exchange because it was run by a fat French guy everybody trusted.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 17/04/2014, 12:36:37 UTC
How many loop holes can these Chinese exchanges find to keep operating though? Doesn't it seem inevitable that they will be forced to close down once they run out of lives?

I wish bitfloor had fought this hard when their bank account was closed.

remember who was behind it you will understand

Thats what I thought, someone who keeps their customers assets probably wasnt rushing to fight to stay open...

The money left on the exchange was eventually returned through IAFCU.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 17/04/2014, 12:11:37 UTC
How many loop holes can these Chinese exchanges find to keep operating though? Doesn't it seem inevitable that they will be forced to close down once they run out of lives?

I wish bitfloor had fought this hard when their bank account was closed.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 05/04/2014, 08:24:26 UTC
I'm curious who is buying coins on Houbi. How many new Chinese are sending fresh fiat to exchanges? That sounds hard to imagine.

I'm surprised the Chinese aren't buying with both hands while they still can. They clearly don't think like Americans.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
schizoid
on 05/04/2014, 07:26:33 UTC
China actually ahead in price now, kinda weird after days it being behind 20 bucks or so

Huobi pumps and stamp dumps. Is someone converting lots of CNY to USD while he still can?