71–80 of 102 posts
Am I the only one who can't read this graph? It looks like it's rotated 90 degrees and there's no time axis so I don't see what this is representing. I don't understand what the legend for the Y axis means.
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Obviously, you are absolutely right. Then again, as much as I despise myself for it I did make a killing last time a bunch of idiots started buying them for >20$ a pop so I wouldn't mind. Taking money from speculators and giving money to geeks... I'm sure someone could spin this into something positive. I don't think it's going to hurt bitcoin, it's proven itself to withstand it and is here to stay.
> "Taking money from speculators and giving money to geeks... " Classic fallacy. "Those rules don't apply to me!" Guess what? You are a speculator, no better or worse than any other speculator out there, be it in gold, houses or mortgages. Sorry.
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Silk Road is famous, but it doesn't mean that illegal activities are the main economic activities in bitcoin. The number of accounts is currently at about 22000, and the largest number of people online at any given time is 126 – a stable community, but much smaller than those who see Silk Road as being the single shadowy force keeping up the Bitcoin economy behind the scenes imagine. -- http://bitcoinmagazine.net/the…
The problem is that CCs and PayPal is much easier to use and it is much safer than Bitcoins. So I for one see no reason to use bitcoin to purchase anything other than products that can only be purchased via bitcoins
If you never use bitcoin, you wouldn't realize how convenient it is in some situation. For example, when I brought an album, I just sent some coins to the address and then it was a done deal. I don't have to enter my credit card information or enter my username/password.
If you aren't convinced about bitcoin but you have time, you should experiment and find if there's any usecases for bitcoin rather than just dismissing it outright.
Let also note that the security pressure by criminals have lead lot of bitcoin sites to adopt 2 factor authentication. Some figured out that they don't need their wallet online at all and can get away with just using the blockchain to process payment. This meant even if the server were to get hacked, there's no bitcoin to steal. The bitcoin team themsleves are also working on adding multi-signature transactions.
I lost a lot of money in bitcoin. I learned a valuable lesson that's better than anything I learned in collage. 1) Easy to make, easy to lose. 2) Whatever you are thinking of doing, so is everyone else. If you're planning on outsmarting thousands of other people, just remember, they are planning to outsmart you. 3) Any market with a high volume of flippers (buys to resell and make money) vs users (actually use a prod…
5) "This time is different!" is bullshit. There are times when it is indeed different. When Columbus landed, it was genuinely different. (Especially for the natives.) When general artificial intelligence arrives, it will also be genuinely different. (Especially for us.)
However, I would not bet on the direction of Bitcoin prices in the short run, because I have no advantage over the many short-term traders and speculators who make up the daily Bitcoin market. (As Warren Buffett says, “if you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.” I don't want to be the patsy.)
I’m persuaded that in the long run -- that is, over many years -- Bitcoin is likely to appreciate far above current levels as it gains further adoption worldwide. Here's why: https://cs702.wordpress.com/2011/05/29/on-the-potential-adop... -- I wrote this more than a year ago, and still think it's correct. However, I would not bet on the direction of Bitcoin prices in the short run, because I have no advantage over th…
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5) "This time is different!" is bullshit. There are times when it is indeed different. When Columbus landed, it was genuinely different. (Especially for the natives.) When general artificial intelligence arrives, it will also be genuinely different. (Especially for us.)
I'm not sure if you just implicitly suggested that we (humans) will be mistreated by the general AI (and its offsprings) just like the natives were mistreated by people who followed after Columbus.
I lost a lot of money in bitcoin. I learned a valuable lesson that's better than anything I learned in collage. 1) Easy to make, easy to lose. 2) Whatever you are thinking of doing, so is everyone else. If you're planning on outsmarting thousands of other people, just remember, they are planning to outsmart you. 3) Any market with a high volume of flippers (buys to resell and make money) vs users (actually use a prod…
Earlier quoted context omitted.
Silk Road is famous, but it doesn't mean that illegal activities are the main economic activities in bitcoin. The number of accounts is currently at about 22000, and the largest number of people online at any given time is 126 – a stable community, but much smaller than those who see Silk Road as being the single shadowy force keeping up the Bitcoin economy behind the scenes imagine. -- http://bitcoinmagazine.net/the…
The problem is that CCs and PayPal is much easier to use and it is much safer than Bitcoins. So I for one see no reason to use bitcoin to purchase anything other than products that can only be purchased via bitcoins
Earlier quoted context omitted.
The problem is that CCs and PayPal is much easier to use and it is much safer than Bitcoins. So I for one see no reason to use bitcoin to purchase anything other than products that can only be purchased via bitcoins
Given the amount of people who are victims of scams and frauds within the mainstream banking system, and the habit of paypal to freeze people's accounts and hold their money on a frighteningly regular basis, I am not sure that bitcoin is any worse from a safety point of view.
Every few months a bitcoin site gets lots of attention and boom they get hacked. Usually it is because the site is run by a teen or a college student wanting to make a quick a buck.