tag:blogger.com,1999:blog-3758330678390419129.post6982925022059862843..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Bitcoin Collapse Continues; Breaks Under $200Robert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-3758330678390419129.post-26825011790351401142015-01-27T17:57:24.889-05:002015-01-27T17:57:24.889-05:00RW puts quotes around "intrinsic" value ...RW puts quotes around "intrinsic" value for a reason. Under Austrian theory, there is no such exact thing as intrinsic value and I believe, definitely not something like a "store of value." Value is always and only a subjective desire of each individual actor. It cannot be "stored" in anything nor is it intrinsic to anything. A more accurate description for gold and Alan Andersenhttps://www.blogger.com/profile/09144313758560375165noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-9472246810553143172015-01-18T11:48:41.651-05:002015-01-18T11:48:41.651-05:00"It's akin to say do not invest in stock ..."It's akin to say do not invest in stock market because it crashed from 2007 to 2009; that's stupid and completly misses the fact that the stock market rose 1000-fold between 1900 and today. "<br /><br />Why the suggestive anonymous prognostications? Put your balls out there like RW and tell us where Bitcoin will be a year from now. <br /><br />Otherwise, stop bitching about theAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-20211932944496125732015-01-18T01:57:43.475-05:002015-01-18T01:57:43.475-05:00Yes bitcoin fell from 1000 to 200, but that's ...Yes bitcoin fell from 1000 to 200, but that's cherry picking indeed. It's akin to say do not invest in stock market because it crashed from 2007 to 2009; that's stupid and completly misses the fact that the stock market rose 1000-fold between 1900 and today. Few years ago you could exchange a pizza for 10,000BTC. Nobody knew it back then but this was the most expensive pizza in human Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-47019650900014034252015-01-18T01:53:45.916-05:002015-01-18T01:53:45.916-05:00"Bitcoin has no intrinsic value" There&#..."Bitcoin has no intrinsic value" There'll always be a demand from merchants to escape high credit card fees. Bitcoin itself may not outlive its creator but the principle is definitely here to stay. I think bitcoin itself is much more like an experiment. After trial and errors and lots of VC money, there'll be in 5-10 or 20 years a whole new payment system that will revolutionizeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-82991524895861320682015-01-17T13:43:55.901-05:002015-01-17T13:43:55.901-05:00Your economic reasoning when it comes to the consu...Your economic reasoning when it comes to the consumer demand of gold and oil is wrong. Bitcoin's prime function is as a store of value and if that fails then it will go to zero. That is NO different than gold. If people stop seeing gold as a store of value -- because it loss its scarcity -- then gold prices would crash. Not just for it as a store of value but as a commodity as well. The priceAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-37489069024848492012015-01-14T17:38:42.046-05:002015-01-14T17:38:42.046-05:00Bitcoin= Digital Snake OilBitcoin= Digital Snake OilAnonymoushttps://www.blogger.com/profile/06214031089222250255noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-19132561766614318552015-01-14T16:28:44.409-05:002015-01-14T16:28:44.409-05:00You think the price of gold is explained by its &q...You think the price of gold is explained by its "underlying consumer demand"?? ie gold at $1200 is explained by jewelry and gold teeth? LOL!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-91099154576652589002015-01-14T13:31:15.425-05:002015-01-14T13:31:15.425-05:00At the current rate we will see it below $100 SOON...At the current rate we will see it below $100 SOON - as in within 48 hours<br />Then within a week LOW double digits - then the losers will SCREAM BUY and it will linger <br />there for a few months as miners and exchanges go dark and the only participants will be the bagholders who will find that they cannot even use the thing<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-15915435732267926042015-01-14T13:21:27.048-05:002015-01-14T13:21:27.048-05:00They kept saying "There's nothing stoppin...They kept saying "There's nothing stopping bitcoin!..." but left out the "from going to zero"<br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-25057779789194336892015-01-14T11:23:44.574-05:002015-01-14T11:23:44.574-05:00RW, define near future please.RW, define near future please.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-38678569793785730882015-01-14T08:18:33.578-05:002015-01-14T08:18:33.578-05:00I can't believe this!
I thought all those hig...I can't believe this!<br /><br />I thought all those high powered computers doing calculations made Bitcoin worth something. <br /><br />What was the argument? "Energy can't be destroyed." or something along those lines?<br /><br />Let's go to geek speak, shall we?<br /><br />lulz<br /><br />I can haz a Bitcoin cheezeburger?<br /><br />All your Bitcoin belong to us!<br /><brAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-67806783803754770442015-01-14T05:08:14.145-05:002015-01-14T05:08:14.145-05:00this is not the first time this has happened to bt...this is not the first time this has happened to btc and it will not be the last, btc is a long game, it may be overpriced at the moment, but there is value there, and as the current paradigm falls apart as it inevitably will there will be demand once more.<br />a few years ago $169 was a pipe dream for btc.Anonymoushttps://www.blogger.com/profile/03005702338502639753noreply@blogger.com