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Thanks, but no thanks! I'd keep as far away from this stinking pile as possible! It's 2017! We have instant bank transfers and everybody can get a free Square r
by nikolay 9y ago
Thanks, but no thanks! I'd keep as far away from this stinking pile as possible! It's 2017! We have instant bank transfers and everybody can get a free Square reader and accept payments. PayPal is not what used to be and you can accept global payments with no friction. It's time to end this nonsense, stop talking about Bitcoin, focus on the blockchain, and let it show its true colors when there are no disoriented people confusing blockchain with Bitcoin who keep buying fueled by their pathological greed. If I want to speculate, there's a more sophisticated method, but, wait, it requires a brain - the stock market! With Robinhood and the likes - it's scam-free and I don't rely on the Chinese miners or government for my fortune's security!
- revmoo 9y agoJanet Yellen alt spotted
- wolco 9y agoThe stock market over bitcoin? Bitcoin is up double the last 30 days. Timing is everything your opionion is dated or belongs in the future in the present bitcoin is a good investment
- JamesBarney 9y agoYou mean 30 day ago Bitcoin was a good investment. Who knows whether it's a good investment now.
- nikolay 9y agoIf you sell now, it was a good investment. If you hold, nobody knows (well, I do.)
- mirimir 9y agoHey, I earned most of my current Bitcoin at $200-$300. Some I'm selling, of course. But the rest, I'm OK with betting.
- nikolay 9y agoThat's your decision. Nobody in Bitcoin can guarantee you that the value will stay above $200 though.
- mirimir 9y agoYes, no doubt. But on the other hand, since the parent comment was posted, Bitcoin price has increased 10%. And I'm pretty sure that I could sell before it drops 90%.
- nikolay 9y agoYeah, so, what's the economic reason for the spike? More people use Bitcoin today? Let's cut the bullshit, please! Mere mortals do not have Bitcoin and are not interested in it - at all. All the noise is around blockchain technology and Ethereum, i.e., it's bearish toward Bitcoin. Russia and China are waging wars against it, so, why is the price climbing? Well, let me share a secret - the demand is Chinese sneaking money out of the country. I know friends who help their buddies and charge a two-digit percentage to move their money out of mainland China. Here in Orange County, there are a lot of Chinese buying houses with cash, and it's a similar situation in the Bay Are, Vancouver, etc. Given more, and more people sneak out, the demand grows as well. The US is fine because fresh money flows into the US economy, but as we know, China realizes that even though some of the people sneaking money out are possibly close to the government. I have and cannot have solid facts to prove this, but everything pretty much backs my theory and especially the correlation that the harder pressure China does, the higher the price goes! But for you, it won't be a nice thing to hear one day that there's a total crackdown on this scheme and people who buy Bitcoin in advance to sell it suddenly want to get rid of it!
- wolco 9y agoSneaking money out of china is only going to increase in the short term regardless of a crackdown
- 9y ago
- omio 9y agoI'm sure you rely on the government to keep your fortune safe.
- nikolay 9y agoYup! And not the Chinese government, which is behind the Bitcoin miners.
- grover_hartmann 9y agoTell that to WikiLeaks. Your "instant bank transfers" claim is irrelevant. Traditional banking lacks the openness, borderless access, censorship resistance aspects of decentralized cryptocurrencies like bitcoin. With traditional banking you are in a master-slave relationship, where your bank is the master and can wipe your money clean at a whim. Bitcoin means you are your own bank. It's pointless to compare "instant bank transfers" with bitcoin, bitcoin makes traditional banking obsolete.
- quickben 9y agoIf "censorship resistant" is the main selling point, it's a lost cause.
- grover_hartmann 9y agoWhy? Do you prefer the government having the power to confiscate people's money?
- nikolay 9y agoTell me a recent case of confiscated money in the US. Well, I remember the Feds confiscating tons of bitcoins though!
- grover_hartmann 9y agoThe US is not the whole world. Are you that stupid?
- nikolay 9y agoNo, I'm not stupid, but you're pathologically paranoid. Something that solves a problem for <1% of the global population and some niche cases is of virtually no utility.
- 9y ago
- null0pointer 9y agoPut your money where your mouth is and place a short.
- nikolay 9y agoTrust Bitfinex with my money? Thanks, but no thanks!
- gruez 9y ago>everybody can get a free Square reader and accept payments * subject to a 3% + $0.3 processing fee >the stock market! With Robinhood and the likes - it's scam-free what about the 2008 CDO fiasco? what about enron? the stock market is far from "scam free"
- nikolay 9y agoBy being a blatant Bitcoin parrot [0], you didn't even bother to look at what the actual Square fees and thus making a fool of yourself! [0]: https://news.ycombinator.com/threads?id=gruez https://news.ycombinator.com/threads?id=gruez
- gruez 9y ago>[0]: https://news.ycombinator.com/threads?id=gruez https://news.ycombinator.com/threads?id=gruez well no shit, obviously the citation going to be something i say. at least link to some specific comments. >thus making a fool of yourself! says the guy who's resorting to ad hominem attacks
- defgeneric 9y ago> stop talking about Bitcoin, focus on the blockchain What people miss is that the focus on "blockchain" was a way for the finance industry to talk about Bitcoin at a time when it could get you fired for doing so.
- nikolay 9y agoNot really. Implementing a blockchain outside of Bitcoin is bearish toward Bitcoin, but people are stupid enough not to get that still.