€100 of Bitcoin in 2010 = €70m today

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paddyor
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Re: €100 of Bitcoin in 2010 = €70m today

Post by paddyor »

Image

:lol:
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

paddyor wrote:
goeagles wrote:....
To be clear: The lesson from that era was not that we should revere entrepreneurs or accept all technologists' claims unchallenged. Rather, keep an open mind, think beyond the quarterly metrics Wall Street obsesses over, question your assumptions about how the world will always work - and don't confuse a beautiful horse (the world wide web, bitcoin) with the flies buzzing around its rear end (Pets.com, Mt. Gox).

.....
Thats some grade A shite right there. You don't have to buy bitcoin to do that.
Literally the next sentence:
In other words, you don't have to hold or even like bitcoin. Just don't be a nocoiner.
:lol: :lol:
Bowens
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Bowens »

paddyor wrote:Image

:lol:
"Evangelical fervor" is one of the few things that fanfic posted earlier got right.
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

A blockchain pretty clearly could be used for better gun registry record keeping. But keep on with your "Bitcoin is a scam and going to zero" crap.
Rumham
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Rumham »

goeagles wrote:A blockchain pretty clearly could be used for better gun registry record keeping. But keep on with your "Bitcoin is a scam and going to zero" crap.
Gun registry records is really the problem. Yeah.
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paddyor
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Re: €100 of Bitcoin in 2010 = €70m today

Post by paddyor »

goeagles wrote:
paddyor wrote:
goeagles wrote:....
To be clear: The lesson from that era was not that we should revere entrepreneurs or accept all technologists' claims unchallenged. Rather, keep an open mind, think beyond the quarterly metrics Wall Street obsesses over, question your assumptions about how the world will always work - and don't confuse a beautiful horse (the world wide web, bitcoin) with the flies buzzing around its rear end (Pets.com, Mt. Gox).

.....
Thats some grade A shite right there. You don't have to buy bitcoin to do that.
Literally the next sentence:
In other words, you don't have to hold or even like bitcoin. Just don't be a nocoiner.
:lol: :lol:
Yeah I can read. You gotta be super clever and virtuous to own the monorail.
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Sefton
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Sefton »

One of the podcasts I listen to is Click from the BBC World Service and It feels like every other feature has somebody eulogising how blockchains are going to fundamentally change their industry, it does remind me of the dot com 80’s with solid core underlying technology but with overblown expectations but then I’m an old fart now so there’s a good chance I’m talking shit.
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Plato'sCave
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Plato'sCave »

Sefton wrote:One of the podcasts I listen to is Click from the BBC World Service and It feels like every other feature has somebody eulogising how blockchains are going to fundamentally change their industry, it does remind me of the dot com 80’s with solid core underlying technology but with overblown expectations but then I’m an old fart now so there’s a good chance I’m talking shit.
It’s just a code encryption chain of data buckets that protection-buffers itself against quick creation and doesn’t require third party verification because it’s method of creation mitigates side-branch creation by verification of the timestamped single path from the genesis block. It’s a clever conduit that could carry any info.
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

Rumham wrote:
goeagles wrote:A blockchain pretty clearly could be used for better gun registry record keeping. But keep on with your "Bitcoin is a scam and going to zero" crap.
Gun registry records is really the problem. Yeah.
It may not be the main problem, but it's one of the problems and blockchain is a realistic, good solution for that aspect and would absolutely help. Here are a couple looks at what that might look like:

https://peerj.com/preprints/3407.pdf
https://medium.com/@marcbhargava/a-bloc ... 7c1953055e

Oh, and a look at how dysfunctional the current registration system is: https://www.gq.com/story/inside-federal ... -many-guns
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Plato'sCave wrote:
Sefton wrote:One of the podcasts I listen to is Click from the BBC World Service and It feels like every other feature has somebody eulogising how blockchains are going to fundamentally change their industry, it does remind me of the dot com 80’s with solid core underlying technology but with overblown expectations but then I’m an old fart now so there’s a good chance I’m talking shit.
It’s just a code encryption chain of data buckets that protection-buffers itself against quick creation and doesn’t require third party verification because it’s method of creation mitigates side-branch creation by verification of the timestamped single path from the genesis block. It’s a clever conduit that could carry any info.
Excellent description. :lol:
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Plato'sCave
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Plato'sCave »

sorCrer wrote:
Plato'sCave wrote:
Sefton wrote:One of the podcasts I listen to is Click from the BBC World Service and It feels like every other feature has somebody eulogising how blockchains are going to fundamentally change their industry, it does remind me of the dot com 80’s with solid core underlying technology but with overblown expectations but then I’m an old fart now so there’s a good chance I’m talking shit.
It’s just a code encryption chain of data buckets that protection-buffers itself against quick creation and doesn’t require third party verification because it’s method of creation mitigates side-branch creation by verification of the timestamped single path from the genesis block. It’s a clever conduit that could carry any info.
Excellent description. :lol:
Thanks, I’m a software engineer, who does data mining and shit like that.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Plato'sCave wrote:
sorCrer wrote:
Plato'sCave wrote:
Sefton wrote:One of the podcasts I listen to is Click from the BBC World Service and It feels like every other feature has somebody eulogising how blockchains are going to fundamentally change their industry, it does remind me of the dot com 80’s with solid core underlying technology but with overblown expectations but then I’m an old fart now so there’s a good chance I’m talking shit.
It’s just a code encryption chain of data buckets that protection-buffers itself against quick creation and doesn’t require third party verification because it’s method of creation mitigates side-branch creation by verification of the timestamped single path from the genesis block. It’s a clever conduit that could carry any info.
Excellent description. :lol:
Thanks, I’m a software engineer, who does data mining and shit like that.
I'm a software engineer that does full stack. Developing an Android mobile application in React Native using Realm as the local data store talking to a .Net Core 2 WebAPI with MSSQL data store and a React browser based management tool.
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Plato'sCave
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Plato'sCave »

sorCrer wrote:
Plato'sCave wrote:
sorCrer wrote:
Plato'sCave wrote:
Sefton wrote:One of the podcasts I listen to is Click from the BBC World Service and It feels like every other feature has somebody eulogising how blockchains are going to fundamentally change their industry, it does remind me of the dot com 80’s with solid core underlying technology but with overblown expectations but then I’m an old fart now so there’s a good chance I’m talking shit.
It’s just a code encryption chain of data buckets that protection-buffers itself against quick creation and doesn’t require third party verification because it’s method of creation mitigates side-branch creation by verification of the timestamped single path from the genesis block. It’s a clever conduit that could carry any info.
Excellent description. :lol:
Thanks, I’m a software engineer, who does data mining and shit like that.
I'm a software engineer that does full stack. Developing an Android mobile application in React Native using Realm as the local data store talking to a .Net Core 2 WebAPI with MSSQL data store and a React browser based management tool.
Cool. I do mainly integration, reporting, cube analytics and mining, stats and science, commonly in the Microsoft stack SSIS, SSAS and SSRS. But also do some python in anaconda, and then NumPy upwards, whatever package I need, it’s just like complicated Lego. I’m in defence platforms. But this shit works everywhere, Data is data, math is math. We all want to know what, when, where, to give us our whys, hows, when wills etc etc. Just finding the coal amongst the filth.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

You'll love these...

http://www.dancingbots.com
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Leinster in London
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Leinster in London »

No, maths is maths
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w0rdtothe3rd
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Re: €100 of Bitcoin in 2010 = €70m today

Post by w0rdtothe3rd »

The smugness and self-satisfaction with which people trot out the tulip analogy is one of the most grating things.
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paddyor
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Re: €100 of Bitcoin in 2010 = €70m today

Post by paddyor »

w0rdtothe3rd wrote:The smugness and self-satisfaction with which people trot out the tulip analogy is one of the most grating things.
I thought this was kind of hilarious.
Tulip mania wasn’t a frenzy, either. In fact, for much of the period trading was relatively calm, located in taverns and neighbourhoods rather than on the stock exchange. It also became increasingly organised, with companies set up in various towns to grow, buy, and sell, and committees of experts emerged to oversee the trade. Far from bulbs being traded hundreds of times, I never found a chain of buyers longer than five, and most were far shorter.
Like the existence of an exchange somehow validated the enterprize. :lol:
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RuggaBugga
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Re: €100 of Bitcoin in 2010 = €70m today

Post by RuggaBugga »

Its as if you are trying extra speshally hard to demonstrate the no coiner analogy above.
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Plato'sCave
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Plato'sCave »

I must say, this has been a funny thread.
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Bullettyme
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Bullettyme »

So the Venezuelan 'Petro' has been launch, and has apparently raised $750 million :lol:

https://www.reuters.com/article/us-cryp ... SKCN1G506F

Pegged to the price of a barrel of Venezuelan crude.

Who's in?
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

paddyor wrote:
w0rdtothe3rd wrote:The smugness and self-satisfaction with which people trot out the tulip analogy is one of the most grating things.
I thought this was kind of hilarious.
Tulip mania wasn’t a frenzy, either. In fact, for much of the period trading was relatively calm, located in taverns and neighbourhoods rather than on the stock exchange. It also became increasingly organised, with companies set up in various towns to grow, buy, and sell, and committees of experts emerged to oversee the trade. Far from bulbs being traded hundreds of times, I never found a chain of buyers longer than five, and most were far shorter.
Like the existence of an exchange somehow validated the enterprize. :lol:

Debunking previous bubbles is important to coin investors it seems.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

bimboman wrote:
paddyor wrote:
w0rdtothe3rd wrote:The smugness and self-satisfaction with which people trot out the tulip analogy is one of the most grating things.
I thought this was kind of hilarious.
Tulip mania wasn’t a frenzy, either. In fact, for much of the period trading was relatively calm, located in taverns and neighbourhoods rather than on the stock exchange. It also became increasingly organised, with companies set up in various towns to grow, buy, and sell, and committees of experts emerged to oversee the trade. Far from bulbs being traded hundreds of times, I never found a chain of buyers longer than five, and most were far shorter.
Like the existence of an exchange somehow validated the enterprize. :lol:

Debunking previous bubbles is important to coin investors it seems.
I think we can safely say that Bitcoin isn't a bubble? It's new technology, possibly a way in which we change our thinking about commerce, and it's here to stay.
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Wilson's Toffee
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Wilson's Toffee »

Bullettyme wrote:So the Venezuelan 'Petro' has been launch, and has apparently raised $750 million :lol:

https://www.reuters.com/article/us-cryp ... SKCN1G506F

Pegged to the price of a barrel of Venezuelan crude.

Who's in?

With the price of Venezuelan petrol US0.01 at the pump, what is the worth of the Venzuela Petro$ ?
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Wilson's Toffee
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Wilson's Toffee »

sorCrer wrote: I think we can safely say that Bitcoin isn't a bubble? It's new technology, possibly a way in which we change our thinking about commerce, and it's here to stay.
Maybe our (SA) Reserve bank would like it to be a bubble. As probably our commercial banks.

I have a sneaking suspicion it is going to last ..
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

Very good interview/podcast with Ari David Paul, who runs a crypto-focused hedge fund: https://soundcloud.com/hiddenforces/how ... rofit-from
Flyin Ryan
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Flyin Ryan »

goeagles wrote:
Rumham wrote:
goeagles wrote:A blockchain pretty clearly could be used for better gun registry record keeping. But keep on with your "Bitcoin is a scam and going to zero" crap.
Gun registry records is really the problem. Yeah.
It may not be the main problem, but it's one of the problems and blockchain is a realistic, good solution for that aspect and would absolutely help. Here are a couple looks at what that might look like:

https://peerj.com/preprints/3407.pdf
https://medium.com/@marcbhargava/a-bloc ... 7c1953055e

Oh, and a look at how dysfunctional the current registration system is: https://www.gq.com/story/inside-federal ... -many-guns
Registration for everything is dysfunctional. They can't keep track of where people live or have an accurate voter database.
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paddyor
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Re: €100 of Bitcoin in 2010 = €70m today

Post by paddyor »

paddyor wrote:
pontifex wrote:Sorry mate. You don't understand it. First, no buyer of a 50cent album spent 7-8m on anything. I don't understand how you can make that mistake, but I'm guessing if you don't understand that, you won't understand the subsequent arguments.
Tut tut, Moving the goal posts now. You were making the argument that the transaction would increase the value of their (theoritical) other holdings. I.E they were happy to forego the gains of keeping the x amount of bitcoin because it was effectively an investment in the rest of their holding. Kind of the inverse of a share buy back.

FWIW, I think the whole story is bollox. LOOK EVERYBODY THIS GUY MADE 8M FROM 1 ALBUM SALE BY ACCEPTING BITCOIN!. Make no mistake, people are fucking stupid. Sure one fella on here was arguing that actually the buyers will have made out like bandits. It wouldn't surprise me in the least to discover that fiddy had a fortune on bitcoin and "blew it" down to 8m.
This held up well.....kind of. Fiddy now claiming in bankruptcy he has no Bitcoin at all and never did. Could be lying but I reckon it's the truth. I mean, if you were facing bankruptcy would you take a few bitcoin for promotion.....
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

Woori Bank successfully completed the overseas remittance test using the block chain technology of US start-up company 'Ripple'. The Digital Strategy Department, which is responsible for the test, expressed a positive attitude for introducing the technology in practice. As soon as possible, overseas remittances using the ripple solution will be commercialized this year. According to the SBI Group and Woori Bank on January 1, there are about 60 Japanese banks participating in the remittance test using this block chain technology. Among them, 37 banks participated in the overseas remittance test that Woori Bank participated in. The ripple network was well laid out in Japan, so Japanese banks were highly involved in the test. Non-Japanese banks included Woori Bank, Shinhan Bank and Siam Commercial Bank in Thailand.

In addition to Woori Bank, two or three Japanese commercial banks and Japanese Internet banking banks are positively considering introducing the technology into practice. A bank official said, "Since the test results were good, there are many banks to be commercialized in Japan," he said. "Several banks, such as two or three megabanks and Internet professional banks, are pushing to introduce the practice."
https://translate.google.com.au/transla ... rev=search
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

https://www.bloomberg.com/news/articles ... t-done-yet

Looks like this may be partially or largely responsible for the crash. Sold all my BTC and ETH. Taking a break from crypto investing, but not learning, for a little bit until a few things run their course, including improved NVTs.
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Pat the Ex Mat
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Pat the Ex Mat »

goeagles wrote:https://www.bloomberg.com/news/articles ... t-done-yet

Looks like this may be partially or largely responsible for the crash. Sold all my BTC and ETH. Taking a break from crypto investing, but not learning, for a little bit until a few things run their course, including improved NVTs.
I imagine it's a waste of time for a n00b at this point?
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Anonymous 1
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Anonymous 1 »

Harveys wrote:
Woori Bank successfully completed the overseas remittance test using the block chain technology of US start-up company 'Ripple'. The Digital Strategy Department, which is responsible for the test, expressed a positive attitude for introducing the technology in practice. As soon as possible, overseas remittances using the ripple solution will be commercialized this year. According to the SBI Group and Woori Bank on January 1, there are about 60 Japanese banks participating in the remittance test using this block chain technology. Among them, 37 banks participated in the overseas remittance test that Woori Bank participated in. The ripple network was well laid out in Japan, so Japanese banks were highly involved in the test. Non-Japanese banks included Woori Bank, Shinhan Bank and Siam Commercial Bank in Thailand.

In addition to Woori Bank, two or three Japanese commercial banks and Japanese Internet banking banks are positively considering introducing the technology into practice. A bank official said, "Since the test results were good, there are many banks to be commercialized in Japan," he said. "Several banks, such as two or three megabanks and Internet professional banks, are pushing to introduce the practice."
https://translate.google.com.au/transla ... rev=search
I actually head someone ramping Ripple in lobby at work yesterday.
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

Pat the Ex Mat wrote:
goeagles wrote:https://www.bloomberg.com/news/articles ... t-done-yet

Looks like this may be partially or largely responsible for the crash. Sold all my BTC and ETH. Taking a break from crypto investing, but not learning, for a little bit until a few things run their course, including improved NVTs.
I imagine it's a waste of time for a n00b at this point?
Long term I still think it's a good investment but I wouldn't buy in right now. I would read and learn as much as possible so that when market conditions improve, you're ahead of 90% of retail investors in crypto. I'd start with this book: https://www.amazon.com/Cryptoassets-Inn ... 260026671/
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handyman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by handyman »

When moon?
ukjim
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Re: €100 of Bitcoin in 2010 = €70m today

Post by ukjim »

moon lambos soon
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handyman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by handyman »

ukjim wrote:moon lambos soon
I feel you player.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Long bear coming on here. Maybe 2 years. :nod:
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

sorCrer wrote:Long bear coming on here. Maybe 2 years. :nod:
What are you using the project that far out? NVTs still looking pretty bad though.
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

Which exchange/wallet got hacked last week ? Guy I work with lost everything and is dealing with a NZ regulator ...
derriz
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Re: €100 of Bitcoin in 2010 = €70m today

Post by derriz »

sorCrer wrote:I think we can safely say that Bitcoin isn't a bubble? It's new technology, possibly a way in which we change our thinking about commerce, and it's here to stay.
No. It's a novelty use of public key encryption and nothing more.

As a technology, it has no general use for commerce or business outside a tiny, as yet unidentified, niche.
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