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Old 03-05-2014, 11:39 AM   #8561
31 Flavas
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Correct me then, but it sounds like Bitcoin is an investment to you. Short term, of course, but -- buy low, sell high. What is interesting to me is that it (crypto currency, in general) isn't pinned down. It can be used as a currency, a commodity, or as an investment, right now. Overtime, though, I'm sure it will shake out to be one or the other. Assuming cryptocoins in general survive.
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Old 03-05-2014, 12:05 PM   #8562
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Correct me then, but it sounds like Bitcoin is an investment to you. Short term, of course, but -- buy low, sell high. What is interesting to me is that it (crypto currency, in general) isn't pinned down. It can be used as a currency, a commodity, or as an investment, right now. Overtime, though, I'm sure it will shake out to be one or the other. Assuming cryptocoins in general survive.
You're correct in that I view it as an investment.

I'm guessing that some sort of crypto currency will survive, and while I also believe it's interesting, I think Bitcoin has a lot of issues working against it.

To add further clarification to my comments towards Anenome.. they don't really have to do with my personal stance on Bitcoin, but instead his position where he stating that spending Bitcoin (when it was near its height in value) was foolish, but is now contending that it is now not foolish... which is odd to me considering his views of its increase in value, and also the fact that Bitcoins value today (just shy of $670) is over 30% less than its peak (of a bit over $1,000).. a peak of which Anenome states will be eclipsed.

I personally feel that there are enough people taking the strategy that I am, enough people who are seemingly Bitcoin activists, and enough short term advantages to warrant the value rising for me to once again buy in and sell off for a profit.

SENATOR CALLS FOR BITCOIN BAN
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U.S. Senator Joe Manchin (D-W.Va.) sent a letter to federal regulators seeking a ban on Bitcoin, the virtual currency that is unregulated and unstable, and has been used in illicit activity, including drug trafficking and money laundering. Senator Manchin expressed concerns about the negative effect Bitcoin could have on America’s economy if this crypto-currency remains unregulated. The letter was sent to Secretary Lew, Chairwoman Yellen, Commissioner Curry, Acting Chairman Wetjen, Chairman Gruenberg, and Chairwoman White.

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Manchin is not the only lawmaker weighing in on bitcoin in the wake of issues at Mt. Gox. The Texas State Securities Board and the Alabama Securities Commission have each published consumer warnings in the recent days.

However, this letter, addressed directly to new Federal Reserve Chairwoman Yellen, is unique as it will likely add fuel to speculation that the US central bank head will issue a comment or statement on digital currencies soon.


CITI: Bitcoin Now Faces 3 Risks


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the fall of what was once the largest Bitcoin exchange in the world is carrying a lot more weight. In a new note, Citi currency strategist — and the bank's defacto Bitcoin analyst — Steven Englander basically asks: What's the point of Bitcoin now?

Many of his comments echo our take in the week leading up to Gox's shutdown about how huge a setback this was not only for mainstream Bitcoin adoption, but also for the central tenets that got Bitcoin off the ground in the first place.

Englander first argues that Bitcoin may now be too decentralized. That, of course, strikes at the promise of Bitcoin as a democratic, unregulated technology.

But for Englander, the technical glitch that hit not only Gox but other exchanges "seems to have been known for years without the Bitcoin developers instituting a complete fix," he writes. "So one question is whether the decentralized structure, which is the attraction to many, makes it too cumbersome to enact essential fixes.".......

So this leaves three risks to Bitcoin, which we'll summarize:

That Joe Public runs away out of fear the safety of his money can't be guaranteed
That other, better digital currencies come along, relegating Bitcoin to the sidelines
That big banks themselves co-opt the still-relevant technological developments embedded in Bitcoin and junk all the bad parts
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Old 03-05-2014, 12:26 PM   #8563
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I make no claim at being awarding myself a PhD in economics.
I've never claimed a PhD, stop saying that shit, completely disingenuous and inflated.
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Old 03-05-2014, 01:00 PM   #8564
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I've never claimed a PhD, stop saying that shit, completely disingenuous and inflated.
If you'd like to see a real world example of completely disingenuous look to where you claimed it was "kinda foolish" to spend Bitcoin and also took the position that it wasn't at all.

As for the PhD, you've stated quite clearly that you're more of an economist that PhD economists.. Just as you've touted that you're outclassing PhD theologians. You seem to have a real problem not understanding that your opinion does not actually equal fact. Hold on, Anenome has another "theological truth"...well it's really just your opinion, but clearly you see yourself as omnipotent in your own mind.

Combine that with the hilarious irony of you attacking a PhD economist, who you say is either "stupider" than you or "lying" about economics to serve an agenda, because he reversed his position.

You once argued that spending bitcoin was foolish, now you're arguing against that.... so you're doing exactly what you attacked an economist for... which was arguing against something and then for it.
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Many cultures of the world marry girls off after their first menses, around 13 years old. I can't say that's inherently immoral, no.
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Old 03-05-2014, 04:26 PM   #8565
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If you'd like to see a real world example of completely disingenuous look to where you claimed it was "kinda foolish" to spend Bitcoin and also took the position that it wasn't at all.


Give it up.

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As for the PhD, you've stated quite clearly that you're more of an economist that PhD economists.
I've said some PhD econs are wrong on certain issues. That's not the same as claiming a PhD myself.

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Just as you've touted that you're outclassing PhD theologians. You seem to have a real problem not understanding that your opinion does not actually equal fact. Hold on, Anenome has another "theological truth"...well it's really just your opinion, but clearly you see yourself as omnipotent in your own mind.
See, you don't actually care about any of these discussions, you just want to attack me.

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Combine that with the hilarious irony of you attacking a PhD economist, who you say is either "stupider" than you or "lying" about economics to serve an agenda, because he reversed his position.
I doubt I used either of those terms. I pointed out that Bernanke uses good economics in the textbooks that have his name on them, but now is taking a clearly political position (on things like the minimum wage) counter to his previous statements now that he has a bully pulpit.

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You once argued that spending bitcoin was foolish
And you've ignored that my total bitcoin owned remains constant. It's not about the facts with you, it's about attacking me.
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Old 03-05-2014, 09:31 PM   #8566
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*sigh* don't think I can eat pork for awhile...
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Old 03-05-2014, 09:51 PM   #8567
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Old 03-05-2014, 09:55 PM   #8568
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*sigh* don't think I can eat pork for awhile...
I've been on a maaajor pork kick lately, omg, he looks delish.
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Old 03-05-2014, 10:49 PM   #8569
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My Russian wife was trying to say "tape measure"

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love language little language problems like this, funniest thing ever to me. My dutch neighbor called a marry-go-round a horse tornado.

It works both ways - I did not know the words for 'ice cubes' in German so asked for 'very cold water with corners'

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Old 03-05-2014, 11:06 PM   #8570
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He's a purebread
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Old 03-05-2014, 11:26 PM   #8571
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Old 03-05-2014, 11:27 PM   #8572
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The secret to crossing the road in Vietnam is to walk at a steady pace. The vehicles will anticipate where you will be and avoid you.
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Old 03-05-2014, 11:28 PM   #8573
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My gf texted me asking me to do the dishes before I go to work. I told her I already did and she sent this back to me.
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Old 03-05-2014, 11:53 PM   #8574
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Old 03-06-2014, 12:05 AM   #8575
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Old 03-06-2014, 12:19 AM   #8576
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Old 03-06-2014, 12:23 AM   #8577
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Old 03-06-2014, 12:38 AM   #8578
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Old 03-06-2014, 12:56 AM   #8579
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Old 03-06-2014, 05:14 AM   #8580
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Christopher Lloyd is sorry.
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