On the contrary, it's impossible to argue with people like you, who, after having been provided evidence, ignores it completely and engages in ad hominem.
- Status
On the contrary, it's impossible to argue with people like you, who, after having been provided evidence, ignores it completely and engages in ad hominem.
psionl0
Skeptical about skeptics
That illustrates your credibility in this thread quite nicely.
Evidence?!? A "free silver" tract from 1894. You call that evidence? I don't ignore it. I reject it. ETA Its author William Hope HarveyWP had an unimpressive record of effectiveness as a politician and businessman.
Harvey took for himself the title of "First National Patriot" as the leader of the Patriots of America organization. In 1898 group claimed an implausibly large network of 250 local lodges and a circulation of 30,000 for its official organ, The Patriots' Bulletin, a weekly which was originally published as The National Bimetallist.
Harvey was also active in campaigning for staunch free silver advocate William Jennings Bryan in Arkansas in the election of 1896. The 1896 campaign, which involved fusion of the People's Party with the Democratic Party proved catastrophic to the former organization, resulting in its widespread disintegration in the wake of Bryan's defeat.
Bryan was a pro-Divine Creation expert witness in the Scopes trial. He was cross examined by Clarence Darrow.Harvey was also active in campaigning for staunch free silver advocate William Jennings Bryan in Arkansas in the election of 1896. The 1896 campaign, which involved fusion of the People's Party with the Democratic Party proved catastrophic to the former organization, resulting in its widespread disintegration in the wake of Bryan's defeat.
Stewart objected for the prosecution, demanding to know the legal purpose of Darrow's questioning. Bryan, gauging the effect the session was having, snapped that its purpose was "to cast ridicule on everybody who believes in the Bible". Darrow, with equal vehemence, retorted, "We have the purpose of preventing bigots and ignoramuses from controlling the education of the United States."
Good luck with that, Clarence.
Last edited:
You don't really do irony, do you?
I agree that this is the only explanation that covers the variables. We can't deny that people have bought, and will continue to be able to buy bitcoin at one price and sell at a higher price. This could go on for a month or a decade. Who knows?
A story on the excellent science board phys.org
https://phys.org/news/2018-01-cryptocurrency-rivals-snap-bitcoin-heels.html
Bitcoin may be the most famous cryptocurrency but, despite a dizzying rise, it's not the most lucrative one and far from alone in a universe that counts 1,400 rivals, and counting.
Dozens of crypto units see the light of day every week, as baffled financial experts look on, and while none can match Bitcoin's $200-billion euro ($242 bilion) market capitalisation, several have left the media darling's profitability in the dust.
In fact, bitcoin is not even in the top 10 of the crypto world's best performers.
Top of the heap is Ripple which posted a jaw-dropping 36,000 percent rise in 2017 and early this year broke through the 100-billion euro capitalisation mark, matching the value of blue-chip companies such as, say, global cosmetics giant L'Oreal.
https://phys.org/news/2018-01-cryptocurrency-rivals-snap-bitcoin-heels.html
Bitcoin may be the most famous cryptocurrency but, despite a dizzying rise, it's not the most lucrative one and far from alone in a universe that counts 1,400 rivals, and counting.
Dozens of crypto units see the light of day every week, as baffled financial experts look on, and while none can match Bitcoin's $200-billion euro ($242 bilion) market capitalisation, several have left the media darling's profitability in the dust.
In fact, bitcoin is not even in the top 10 of the crypto world's best performers.
Top of the heap is Ripple which posted a jaw-dropping 36,000 percent rise in 2017 and early this year broke through the 100-billion euro capitalisation mark, matching the value of blue-chip companies such as, say, global cosmetics giant L'Oreal.
psionl0
Skeptical about skeptics
I know you intended this to be irony but it is exactly how your frame all of your other posts (which you intend to be serious).
I don't think you're explaining yourself very well.
There have been valiant attempts to support this hoax currency over the last few days but the party looks over. The log chart of the daily tells the story, we should see 8000 this week.
(I did cite that break of 14000 and there was a further chance a few hours ago).
(I did cite that break of 14000 and there was a further chance a few hours ago).
PartSkeptic
Illuminator
I think you could be right. Despite the hard sell adverts, bitcoin is struggling to stay afloat.
psionl0
Skeptical about skeptics
Not another fairy tale.
- Who has been attempting to support bitcoin?
- What action did they take?
- What aspect of bitcoin makes it a "hoax" (apart from the fact that you are a Luddite)?
To an extent I am predicting like many strewn corpses that bitcoin will be discovered to have been a hoax.Not another fairy tale.
- Who has been attempting to support bitcoin?
- What action did they take?
- What aspect of bitcoin makes it a "hoax" (apart from the fact that you are a Luddite)?
I hope that makes sense.
psionl0
Skeptical about skeptics
No it doesn't. What is going to be discovered that leads to the conclusion that bitcoin is a 10 year old "hoax"?
Eddie Dane
Philosopher
- Joined
- Aug 18, 2007
- Messages
- 6,681
Why do you think this?
It could just muddle along in the $12000 to $14000 range, it could even shoot up again.
Eddie Dane
Philosopher
- Joined
- Aug 18, 2007
- Messages
- 6,681
So, to expand the discussion to other crypto-currencies:
If Bitcoin falls severely, I suspect that all the newcomers will run away and it will never return to its highs.
Do you guys think the masses will speculate in other cryptos or will the fall of bitcoin taint the whole crypto thin so badly that that will be over also?
If Bitcoin falls severely, I suspect that all the newcomers will run away and it will never return to its highs.
Do you guys think the masses will speculate in other cryptos or will the fall of bitcoin taint the whole crypto thin so badly that that will be over also?
PartSkeptic
Illuminator
People are buying bitcoin for an increase in value. When they see the value dropping a number will try to get out and cut their losses. Some are prepared to have faith that in the long term the value will climb. They will sit on the sidelines as the price is driven down. New buyers (for trade or for investment) will be reluctant to buy until they see what is happening. The net result is a bunch of sellers driving the price down, down, down.
Why should it go up? Only if people perceive it has value. The only value being pushed by the many companies advertising is that cryptocurrencies are somehow mysterious and the new paradigm. When no evidence of value comes forth (because there is none) then people will lose interest and history will talk about the biggest bubble of all.
If the media starts reporting failures and people losing their life savings then there might be panic and it will be over quickly.
PartSkeptic
Illuminator
Yes. The other cryptos will die too. Blockchain is a nice concept, but governments want control. Even if one could reliably trade with cryto, the governments would intervene. If there is no central authority, the concept is open to scammers and crooks. I think government is unreliable as far as proper regulation of markets, banks and money, but society functions as a society, not as anonymous programmers and computer centers operating as they wish.
We don't need Warren Buffet to predict it will end badly. It is a law of nature.
There are no free lunches. This is the best short in a long time.
In fairness these predictions have been made before. The threads catalogue.
The news cycle tells the story, I read a few weeks ago about a businessman visiting Russia. He said all they wanted to ask was what about bitcoin? That is why it is different this time.
- Status