Bitcoin bear market

Pekelo said:
I couldn't fail to notice that you didn't have an argument against his opinion. So why did you post at all???

Don't kill the messenger, kill the argument... Oh, but that would be hard....
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ok. ok. his statement is that bitcoin is like a check is like a money order.

name me the only one out of all three that has the lowest transaction cost and no banks involved. how are they the same?

that's like saying a kia is like a Porsche...just cuz they are both cars.
 
ElCubano said:
ok. ok. his statement is that bitcoin is like a check is like a money order.

name me the only one out of all three that has the lowest transaction cost and no banks involved. how are they the same?

that's like saying a kia is like a Porsche...just cuz they are both cars.
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Buffet's statement is true. Just because the transaction cost is cheapest (your argument) that doesn't mean that bitcoin isn't essentially a money order, what people can use to transfer money between 2 parties.

So again, how was Buffet wrong? Sure, there are certain differences, but both a Kia and a Porsche are cars (personal transportation devices) and they both take you from point A to point B....
 
Pekelo said:
Buffet's statement is true. Just because the transaction cost is cheapest (your argument) that doesn't mean that bitcoin isn't essentially a money order, what people can use to transfer money between 2 parties.

So again, how was Buffet wrong? Sure, there are certain differences, but both a Kia and a Porsche are cars and they both take you from point A to point B....
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Oh brother. I surrender. lol.
 
Pekelo said:
It just hit $340, yay.....

The market dropped 2% today, BTC went down like 20%....
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And it's at the moment I'm writing this 21% up again (at $410).

The real Investors with the really big money, will buy anything from panicking amateurs.
Just wait till after this Summer when Wall street can and will enter this very promising technology. We will close this year above $1000, for this I'm sure.
 
clacy said:
it's easily copied.

A chair actually takes raw materials, man power or robotic power, shipping, marketing and so on. The entire premise of bitcoin is very easily copied, by anyone with some brainpower and a computer (and likely an office chair to sit on in front of their computer :) )
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Oh Yes ???
Well I challenge you: copy for us a ClacyCoin, and make it as successful as Bitcoin. You cannot! Just like all those 250 and counting others who tried before you... they all failed as Bitcoin has 95% of the market/Network and is much and much more than just a piece of open-source-code.

A successful Coin actually takes: raw material (Mining Equipment + energy), man power (huge network of Miners, Pools, Merchants), shipping (exchanges and Payment-processors), marketing and so on.

Just as easy you can copy a Hamburger in your kitchen: you cannot easily copy Mc'Donalds success: it's worldwide network of restaurants.

I Challenge YOU!
 
clacy said:
This is what a lot of bitcoin defenders are saying.
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Pekelo has his blinders on.

We could make a statement like Buffet made for just about everything.

Coke and Pepsi are the same.
Bill Gates house and Mine are the same
Pekelo and Clacy are both humans so they must be the same.

My post showed why I thought they are different but hey the blinders are on. So hence why I surrender.

I couldn't tell you were the price is going, no one here can really say for sure. All I am saying is that this has legs and in 15 years from now Ill bet its a lot bigger than it is now. That's my wager whatever the price might be then.
 
china local banks send notification of account closure for some exchanges price drop, pboc came out saying they wont ban bitcoin price goes back up.

price moves with china news currently, not much else to say.
 
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