joulesbeef



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moOo







Sr. MemberActivity: 476Merit: 250moOo Re: damn... just sold all my btc for 8.7 and now it's 9.5 August 03, 2011, 11:30:58 PM #11 Quote Oh well. I learned my lesson

which is?



Hindsight is a jerk?



Look at yesterdays lotto numbers I wish I had played them too.



you cant really look at the past and let it get you down.



and really you shouldnt just base your trades on market movement. It is a variable to look at for sure but the best thing you can do is be as informed as you can be, and make the best educated guesses on that information.

Most people dont sell at the peak or but at the bottom, it's just a fact of life. WE get as close as we can and we are happy.



For me the bad news (mybitcoin and that polish exchange I cant ever remember its name) said look for a big drop.. but bitcoin is still chugging along, the mining hash rate still rising, and development is chugging along and these forums get busier every day. Ruxum is starting to take asian currencies, in a week many european currencies. And their are various trading choices coming soon..shorting, derivatives.. etc. WE are probably going to take a beating all week, and prices wont recover fast, but this is no reason to be down, it's like a second chance to buy that lotto ticket. You might think I am crazy, but then again you might read this a year from now and say, "WHY THE HELL DIDNT I LISTEN TO THAT STUPID TALKING COW!".. then again you may be saying the opposite, hindsight is a jerk. which is?Hindsight is a jerk?Look at yesterdays lotto numbers I wish I had played them too.you cant really look at the past and let it get you down.and really you shouldnt just base your trades on market movement. It is a variable to look at for sure but the best thing you can do is be as informed as you can be, and make the best educated guesses on that information.Most people dont sell at the peak or but at the bottom, it's just a fact of life. WE get as close as we can and we are happy.For me the bad news (mybitcoin and that polish exchange I cant ever remember its name) said look for a big drop.. but bitcoin is still chugging along, the mining hash rate still rising, and development is chugging along and these forums get busier every day. Ruxum is starting to take asian currencies, in a week many european currencies. And their are various trading choices coming soon..shorting, derivatives.. etc. WE are probably going to take a beating all week, and prices wont recover fast, but this is no reason to be down, it's like a second chance to buy that lotto ticket. You might think I am crazy, but then again you might read this a year from now and say, "WHY THE HELL DIDNT I LISTEN TO THAT STUPID TALKING COW!".. then again you may be saying the opposite, hindsight is a jerk. mooo for rent

error



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Hero MemberActivity: 588Merit: 500 Re: damn... just sold all my btc for 8.7 and now it's 9.5 August 03, 2011, 11:41:17 PM #12 Quote from: joulesbeef on August 03, 2011, 11:30:58 PM Quote Oh well. I learned my lesson

which is?

which is?

Which is, I'm here for the long term because Bitcoin solves some hard problems in a unique way and thereby has the potential to be a significant positive force in society. When I say significant, I mean the sort of significance that historians write whole series of books about. I have absolutely no reason to sell unless I desperately need fiat money for some reason. (It could happen...)



For those of us who are here because we believe Bitcoin is worth having, selling them is not usually the right thing to do. Spending them, on the other hand, works well enough. But it's incumbent on me (and anyone else who feels so inclined) to do whatever I can to ensure Bitcoin succeeds. Which is, I'm here for the long term because Bitcoin solves some hard problems in a unique way and thereby has the potential to be a significant positive force in society. When I say significant, I mean the sort of significance that historians write whole series of books about. I have absolutely no reason to sell unless I desperately need fiat money for some reason. (It could happen...)For those of us who are here because we believe Bitcoin is worth having, selling them is not usually the right thing to do. Spending them, on the other hand, works well enough. But it's incumbent on me (and anyone else who feels so inclined) to do whatever I can to ensure Bitcoin succeeds. 3KzNGwzRZ6SimWuFAgh4TnXzHpruHMZmV8

Cluster2k



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LegendaryActivity: 1695Merit: 1018 Re: damn... just sold all my btc for 8.7 and now it's 9.5 August 04, 2011, 01:37:39 AM #13 Quote from: joulesbeef on August 03, 2011, 11:30:58 PM For me the bad news (mybitcoin and that polish exchange I cant ever remember its name) said look for a big drop..



From my understanding of the situation, the Polish bitcoin exchange lost its coins through deletion of the wallet file by Amazon's virtual machines. The coins weren't stolen and dumped into the market. They are gone for good and not coming back. This will be one of the fatal long term flaws of bitcoins and will ensure we can never see anywhere near 21 million created and active. From my understanding of the situation, the Polish bitcoin exchange lost its coins through deletion of the wallet file by Amazon's virtual machines. The coins weren't stolen and dumped into the market. They are gone for good and not coming back. This will be one of the fatal long term flaws of bitcoins and will ensure we can never see anywhere near 21 million created and active.

evoorhees



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Democracy is the original 51% attack







LegendaryActivity: 1008Merit: 1005Democracy is the original 51% attack Re: damn... just sold all my btc for 8.7 and now it's 9.5 August 04, 2011, 01:51:50 AM #14 Quote from: Cluster2k on August 04, 2011, 01:37:39 AM This will be one of the fatal long term flaws of bitcoins and will ensure we can never see anywhere near 21 million created and active.



It matters not the number of units of currency in circulation. Bitcoin would be just as viable with 200m coin limit, or 2m coin limit. So long as it's divisible enough to enable small purchases, the total number of coins is completely irrelevant so long as money supply is predictable and stable (criteria which Bitcoin satisfies very well).



Loss of coins is bad for the person who held the coins, not for the economy at large (with the caveat of short-term psychological issues). It matters not the number of units of currency in circulation. Bitcoin would be just as viable with 200m coin limit, or 2m coin limit. So long as it's divisible enough to enable small purchases, the total number of coins is completely irrelevant so long as money supply is predictable and stable (criteria which Bitcoin satisfies very well).Loss of coins is bad for the person who held the coins, not for the economy at large (with the caveat of short-term psychological issues).