Author Topic: "Words they may have to eat" Department  (Read 5915 times)

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Offline tonyk

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Well too many to count, for me personally. I am eating them up on a daily bases...

Once I said that AdamBL is putting my thoughts in a better English... That must have been in a parallel reality.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

merockstar

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"This sounds too good to be true. It has to be either a ponzi scheme, or a technological impossibility."
-Me, speaking about Bitcoin after reading the 2010 article on slashdot. I then ignored it's existence until 3 years later.
Needless to say I try to keep a much more open mind these days.

Offline hughmanwho

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ByteMaster:  "Ethereum & BitShares Partnership"

Bytemaster may have thought that a partnership was a great idea.. but Ethereum doesn't seem to.  Which is kind of important when it comes to working out a deal..

Offline JoeyD

Those of us who bought in early have borne an incredible risk. It just as easily could have turned out badly for us.

Well I've bought in at the recent all time worst moment and have had the pleasure of seeing the value of my "investment" more than half about as fast as a new car. I am also not convinced that changes as potentially powerful as bitcoin and the projects over here will continue to go as uneventful as they have up till now, we have yet to see the first real push-back from power-players with a vested interest in the status quo. While I do not enjoy "losing" my hard earned money (and believe you me when I say hard), I do not regret investing in projects like bitcoin and the ones being developed here.

That said, eventhough I've put my money where my mouth is ideologically, I don't think I'd really mind being able to do that while still maintaining(or in my case recovering) some spending power. I'd like to be able to keep on supporting projects like these, so fingers crossed that bitcoin and especially bitshares-DACs will be able to achieve even a little of their potential.

Offline CWEvans

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Honesty is a true art. How does one make honest predictions?

Prices will increase, decrease, or stay about the same.

Anything more specific than that is a sales pitch.

Profoundly disagree. If one minimizes psychological noise and maximizes intellectual honesty it is often possible to make great predictions.

I had a discussion with my step-father concerning Bitcoin and Litecoin before the last bubble and he argued against investment, but it was clear to me all along that he was merely expressing a feeling (disappointment) from earlier experiences as an investor.

Those of us who bought in early have borne an incredible risk. It just as easily could have turned out badly for us.

Offline CLains

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Honesty is a true art. How does one make honest predictions?

Prices will increase, decrease, or stay about the same.

Anything more specific than that is a sales pitch.

Profoundly disagree. If one minimizes psychological noise and maximizes intellectual honesty it is often possible to make great predictions.

I had a discussion with my step-father concerning Bitcoin and Litecoin before the last bubble and he argued against investment, but it was clear to me all along that he was merely expressing a feeling (disappointment) from earlier experiences as an investor.

Offline donkeypong

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2014 could still be a big year for Bitcoin. But I'm glad I found Bitshares, which has much greater potential.

Offline JoeyD

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2. "Mt. Gox is the Ft. Knox of Bitcoin." --Anonymous user of Magic The Gathering Online Exchange.
I think there may be some truth to this one.

Ah, you mean Knox as Gox? Who knows, Ft. Knox could well be empty. If it's full, though, I'd have to think all that gold is worth something...more than the paper money.

Ft. Knox could be empty, similarly there has been shown no proof whatsoever of the theft of mtGox bitcoins, so they might not be as m t.

This thread has the makings of a famous last words listing.

My own was about how I thought Bitcoin-technology would grow as fast as GNU/Linux, so I expected to be able to afford quite few years before getting my feet wet.

Offline donkeypong

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2. "Mt. Gox is the Ft. Knox of Bitcoin." --Anonymous user of Magic The Gathering Online Exchange.
I think there may be some truth to this one.

Ah, you mean Knox as Gox? Who knows, Ft. Knox could well be empty. If it's full, though, I'd have to think all that gold is worth something...more than the paper money. 

Offline CWEvans

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Warren Buffett wouldn't even invest with his friend Bill Gates.  He said he didn't understand tech then and he's said the same thing more recently as applied to Bitcoin. He chooses only companies with balance sheets he understands, such as those selling razor blades, candy bars, or space on railroad freight cars.

And, that seems to have worked out pretty well for him. So, when he says silly things about Bitcoin, let him have his fun.

I've never understood why, when someone is an expert on one thing, people expect that person's wisdom to extend into other areas. Asking Warren Buffett about Bitcoin would be like asking Bill Clinton about Hollywood celebrities and how they should act...

Or Paul Krugman about anything other than Economic Geography, or me about which programming language to develop software in.

3. "Franko is freedom." Reality: One of the first altcoins, currently with a market cap of $37,000 and stuck around #112 amongst altcoins.

Depending on whose blogs one reads, this one might be true.   ;)

5. "Way overvalued for a search engine." --Me, dismissing a chance to get in on Google near the beginning

One of my favorite examples of the unknowability of the future that I use in class when teaching Economics or Finance is YouTube.

It's a website... where people can up load cat and baby videos... for free... and the site operator will pay for all that storage and bandwith... from advertising revenue...?  Get out of here!!!

Shows what I know.

Offline CWEvans

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Honesty is a true art. How does one make honest predictions?

Prices will increase, decrease, or stay about the same.

Anything more specific than that is a sales pitch.

Offline Stan

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"640K ought to be enough for anybody."
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline bytemaster

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2. "Mt. Gox is the Ft. Knox of Bitcoin." --Anonymous user of Magic The Gathering Online Exchange.
I think there may be some truth to this one.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline donkeypong

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Warren Buffett wouldn't even invest with his friend Bill Gates.  He said he didn't understand tech then and he's said the same thing more recently as applied to Bitcoin. He chooses only companies with balance sheets he understands, such as those selling razor blades, candy bars, or space on railroad freight cars.

I've never understood why, when someone is an expert on one thing, people expect that person's wisdom to extend into other areas. Asking Warren Buffett about Bitcoin would be like asking Bill Clinton about Hollywood celebrities and how they should act. He's famous and he was a popular president, but the fact that he's a celebrity doesn't suddenly make him an expert in Hollywood life. Just like Warren Buffett doesn't know jack s*** about Bitcoin or any other technology investment.

Here are a few "words they may have to eat" nominations. These are paraphrased, not exact quotes.

1. "Mortgage markets are a powerful stabilizing force." --Alan Greenspan. It has some truth, but in hindsight it wasn't the best thing to say. 

2. "Mt. Gox is the Ft. Knox of Bitcoin." --Anonymous user of Magic The Gathering Online Exchange.

3. "Franko is freedom." Reality: One of the first altcoins, currently with a market cap of $37,000 and stuck around #112 amongst altcoins.

4. "The 10-inch screen size is the minimum size required to create great tablet apps." --Steve Jobs (RIP)

5. "Way overvalued for a search engine." --Me, dismissing a chance to get in on Google near the beginning

Offline CLains

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Honesty is a true art. How does one make honest predictions? There's so much denial and confusion lurking in every thought - and paranoia is self-aggrandizing. To be humble with ones own thoughts and past predictions, and yet not blame oneself for them, and yet to try to be honest again and again!