SEC Denies Winklevoss Application for a Bitcoin ETF

m1nt said:
BTC is priciest because of the network effect.
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Way overused and very weak argument. The easiest counter example is Myspace vs. Facebook, let me know how Myspace's first mover advantage and network effect protected its value.

Also read my previous post about a retailer's crypto, bitcoin's network advantage can be overcome in 1 day if the retailer is big enough, Ebay, Amazon...
 
Pekelo said:
Are they free to make and easy to produce? Cryptos are when they start out. So your analogy was dead on arrival...

Show me ANY product in history that was easy to make and had no copyright protection and it kept or increased its value. No such a thing...

And you are saying you don't know if bitcoin will be the highest price in the future, so what exactly is your argument?
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I am saying I don't know. Yes. You on the other hand do know ... what the future holds for bitcoin. :rolleyes:
 
There are two separate arguments - one is future of digital currency as a concept and another one is the future of bitcoin. I think an independent digital currency is inevitable, despite all of the efforts of various governments to stop it. At the moment bitcoin is the most likely one, simply because there is a fair amount of "savings" in it already.
 
sle said:
despite all of the efforts of various governments to stop it.
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Let's not exaggerate. If the USA outlaws bitcoin (aka no retailer can accept it for legal payment) there goes most of its value at least for US citizens who actually want to use it as currency. Then the EU follows up, China happily following up, etc.

You still can buy drugs with it from the darknet though.

We still haven't had a famous industrial blackmail using bitcoin. Just wait what the DoJ will do when someone inflects let's say Delta Airlines' computers with a virus and demand payment in bitcoin, while thousands of flights have to be canceled. Then we will come back to this discussion.

https://arstechnica.com/business/20...ng-blackmailed-by-bitcoin-cyberextortionists/
 
Pekelo said:
...Show me ANY product in history that was easy to make and had no copyright protection and it kept or increased its value. No such a thing...
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Fire? The wheel? The telescope? Flatware? Chairs? Chocolate chip cookies?

Hehe, I am jesting, I get what you mean.
 
Pekelo said:
Let's not exaggerate. If the USA outlaws bitcoin (aka no retailer can accept it for legal payment) there goes most of its value at least for US citizens who actually want to use it as currency. Then the EU follows up, China happily following up, etc.

You still can buy drugs with it from the darknet though.

We still haven't had a famous industrial blackmail using bitcoin. Just wait what the DoJ will do when someone inflects let's say Delta Airlines' computers with a virus and demand payment in bitcoin, while thousands of flights have to be canceled. Then we will come back to this discussion.

https://arstechnica.com/business/20...ng-blackmailed-by-bitcoin-cyberextortionists/
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We just did Pekelo... :)
No reaction from DoJ I think...
 
sorry Pekelo, but common sense can only cost you money in this cruel cruel world.

what we should have said, and what I said during the IPO boom of the late 90's, was , I know most of this is garbage , but I will buy high and sell higher, to the fools . Some of it worked out, much of it didn't , but I banked.

I made a lot of coin doing that.

Somehow, this BTC seemed so ridiculous , it never dawned on me to pick their pockets.

My mistake. And I didn't just figure this out today. I've know this idiocy had legs for quite a while. Just talked myself into not messing with it.
 
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