Daily Bitcoin Thread | TigerDroppings.com
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Lsut81
USA Fan
Member since Jun 2005
66076 posts

Daily Bitcoin Thread

quote:

It seem like it was only yesterday that Bitcoin crossed $200 for the first time. Oh wait, it was. It is now 24 hours later, and as parabolic rises imply, it is only "fair" that the price of the electronic currency (expressed in the same currency that incidentally can be created out of thin air and is used to transact for BTC) is some 25% higher, or well over $250.... In one day.



As before we will merely continue to watch in quiet amazement as the parabolic chart gets parabolic-er, but we will suggest this: those who absolutely must chase this runaway chart should not "invest" one penny more than they are comfortable losing, and as we said before, "This leaves us with the question, which line item on the Fed's Balance Sheet is 'Virtual Currency Transactions'... what better way to destroy an up and coming currency competitor than to blow a bubble in it and explode it?"


LINK


el duderino III
LSU Fan
austin
Member since Jul 2011
1623 posts

re: Daily Bitcoin Thread
said it in november, i'll say it again - its anonymity prevents speculators from analyzing the currency's fundamentals which would prevent the current nonsense. Just one of several ways it's greatest strength is it's greatest weakness.


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GumboPot
LSU Fan
Saints Fan
Member since Mar 2009
29281 posts

re: Daily Bitcoin Thread
A comment from your link:

quote:

if this hockey stick is as legitimate as al gores climate change hockey stick, then lookout below




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Bunk Moreland
Michigan Fan
Detroit, MI.
Member since Dec 2010
9254 posts

re: Daily Bitcoin Thread
May as well post this one yesterday from ZH by a von Mises guy.
Bitcoin: Money of the Future or Old-Fashioned Bubble?


Choctaw
Navy Fan
Pumpin' Sunshine
Member since Jul 2007
58226 posts

re: Daily Bitcoin Thread
i'm tired of hearing about Bitcoin


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hashtag
LSU Fan
Member since Aug 2005
18557 posts

re: Daily Bitcoin Thread
so, what would happen if our federal government and other country government's around the world were using a ton of resources to mine as many bitcoins as possible? How would it affect the market if our government simply mined as much as possible and then did nothing with the bitcoins.


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BeeFense5
New Orleans Pelicans Fan
Kenner
Member since Jul 2010
19938 posts

re: Daily Bitcoin Thread
Unicorn money


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CITWTT
LSU Fan
baton rouge
Member since Sep 2005
31765 posts

re: Daily Bitcoin Thread
Would you like to come over and beat the crap out of me? Trying to go through a day without this BS or CT writing about the evil Zionists is just too damned hard.


BlackHelicopterPilot
LSU Fan
Top secret lab
Member since Feb 2004
35004 posts

re: Daily Bitcoin Thread


Lsut81
USA Fan
Member since Jun 2005
66076 posts

re: Daily Bitcoin Thread
quote:

Would you like to come over and beat the crap out of me?


Will you be paying me in bitcoins


CITWTT
LSU Fan
baton rouge
Member since Sep 2005
31765 posts

re: Daily Bitcoin Thread
I'll see if I can arrange TAF points, which have much greater value.


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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Daily Bitcoin Thread
quote:

I have Tulips for sale


You're smarter than that, BHP.

Don't fall for the groupthink. Think for yourself.

I posted this a couple days ago in response to another tulip mania accusation:

I just think that most people throw the "tulip mania" comparison out there without actually understanding that it's not an accurate comparison. Government expansion of the monetary supply and a product that is not actually scarce were integral aspects of tulip mania that bitcoin does not share. So I think it is kind of simplistic to just point out what looks like a bubble and say "Hey look tulip mania." Bitcoin may be in a bubble right now (I think it definitely is), but that doesn't mean it won't recover when this bubble pops, because despite your assessment of bitcoin, it actually does have strong fundamentals.

For an Austrian view of tulip mania: The Truth About Tulipmania

~~~~~~~~~~~~~~~~~~~

Tulip Mania explanation ( source )

Image: http://www.derivativesstrategy.com/i/cmx/1996_02/1_1.gif

Image: http://www.derivativesstrategy.com/i/cmx/1996_02/2_1.gif

Image: http://www.derivativesstrategy.com/i/cmx/1996_02/3_1.gif

Image: http://www.derivativesstrategy.com/i/cmx/1996_02/4_1.gif

Image: http://www.derivativesstrategy.com/i/cmx/1996_02/5_1.gif

Image: http://www.derivativesstrategy.com/i/cmx/1996_02/6_1.gif

Image: http://www.derivativesstrategy.com/i/cmx/1996_02/7_1.gif

Image: http://www.derivativesstrategy.com/i/cmx/1996_02/8_1.gif

Image: http://www.derivativesstrategy.com/i/cmx/1996_02/9_1.gif

Image: http://www.derivativesstrategy.com/i/cmx/1996_02/10_1.gif

Image: http://www.derivativesstrategy.com/i/cmx/1996_02/11_1.gif

Image: http://www.derivativesstrategy.com/i/cmx/1996_02/12_1.gif



BlackHelicopterPilot
LSU Fan
Top secret lab
Member since Feb 2004
35004 posts

re: Daily Bitcoin Thread
quote:

Don't fall for the groupthink. Think for yourself.






It was just a throw away, goofy line.

I have said that I am intrigued and watching this with an open mind.

However, I know I lack the knowledge to take a "side" on this. So, I will neither invest nor poo-poo the BCs



WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Daily Bitcoin Thread
new bitcoin article in forbes: Bitcoin Is A Disruptive Technology


CITWTT
LSU Fan
baton rouge
Member since Sep 2005
31765 posts

re: Daily Bitcoin Thread
Now that is some funny shite. You say think, and try to make your point with art from a comic book.


LSURussian
LSU Fan
Member since Feb 2005
85159 posts

re: Daily Bitcoin Thread
quote:

You say think, and try to make your point with art from a comic book.


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hashtag
LSU Fan
Member since Aug 2005
18557 posts

re: Daily Bitcoin Thread
quote:

WikiTiger
hey Wiki, can you answer my question I posed earlier? What would happen if governments (U.S. and others) have been mining bitcoins and just mined as many as possible as fast as possible and then did nothing with their bitcoins?


Tech Support Grunt
LA-Monroe Fan
Monroe
Member since Jul 2012
66 posts

re: Daily Bitcoin Thread
If they started mining at the beginning then they possibly made a large sum of money. If they are just starting to mine now they will make very little.


hashtag
LSU Fan
Member since Aug 2005
18557 posts

re: Daily Bitcoin Thread
quote:

If they started mining at the beginning then they possibly made a large sum of money. If they are just starting to mine now they will make very little.
i'm talking about the government holding a large number of bitcoins and not doing anything with them. Just mining them and then not using them, not committing any transactions.

For Example: If the U.S. government holds 50% of all bitcoins mined and does nothing with them, how would it affect the bitcoin market? And, not just now, but 5 years from now.


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Daily Bitcoin Thread
quote:

What would happen if governments (U.S. and others) have been mining bitcoins and just mined as many as possible as fast as possible and then did nothing with their bitcoins?


The price for all other bitcoins would go up.


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