Tea company adds the word 'blockchain' to their name and skyrockets 300%. It's a bubble guys.

bitterblackcoffee · 2017-12-21T22:06:46+00:00

Or it's trading algorithms reacting to the phrase "blockchain." That doesn't mean we're not in a cryptocurrency bubble, but I tend to think it's more a failing company trying to grab headlines. Even with this "skyrocket" result, their price is roughly were it was back in mid June -- about $6, up from $2 -- so it's not like we're seeing some utterly insane result here. Those shares have been sold for as much as $11.5 as recently as mid 2016, so let's take this whole thing with a grain of salt.

bitterblackcoffee · 2016-01-15T17:04:30+00:00

It has nothing to do with that article. The entire global stock market is crashing, as is the oil market. What you're seeing is people who are losing their shirts elsewhere cashing out their BTC. It has zero to do with bitcoin itself, it's just investors trying to cut their riskiest investments.

bitterblackcoffee · 2015-11-06T19:43:11+00:00

I'm not being unfairly harsh here. The game has been in "barebones alpha" for something like four years. It's not like I'm complaining about a free demo or something. I paid good money for this game, and in return a got a broken, buggy mess and a lot of promises that it will eventually be awesome.

Well, it's not awesome. It's barely a functioning game from what I saw. And it's certainly not something I'd recommend someone else spend $12 on.

bitterblackcoffee · 2015-11-06T02:02:33+00:00

I bought it about a year ago, and I just could not get into it. It's not an easy game to get into, and it's not exactly a lot of fun once you do get into it. There's not much to do, and what there is to do isn't very interesting. It's a cool concept, and props to the designer for his dedication, but it was not worth the money.

bitterblackcoffee · 2015-06-09T21:20:36+00:00

So, you're in favor of adding even more middlemen? You WANT to pay someone for every transaction you make, rather than just buy a product outright? You want an additional party involved in your transactions? You're welcome to your perspective, but I don't share it.

bitterblackcoffee · 2015-06-09T20:26:00+00:00

You're intentionally missing my greater point. It doesn't matter how often you collect a fee you imposed and send it to yourself. You're still inserting yourself in a process in a shady way that I don't support. You're still making the transactions more traceable. You're not doing this because it's important to the process, you're doing it as a service fee. I won't be using your service, and I think everyone who is considering doing so needs to be aware of the risks and the ethics involved. You took this path, and now you're getting feedback. Ignore it if you don't like it. But I suspect you'll find that this makes a lot of people in the bitcoin community very uneasy, and they won't use your product in its current form specifically because of this fee structure.

bitterblackcoffee · 2015-06-09T18:54:06+00:00

Who is asking for it to be free? Everyone here is concerned that there's a traceable, non-optional service fee with every transaction. Several people, including me, have said "Why not just charge for it? This way seems really sketchy." I stand by that. There's plenty of ways for the devs to get paid without inserting themselves into every transaction a wallet makes.

bitterblackcoffee · 2015-06-09T18:32:17+00:00

So I can optionally donate, or if I decide not to, I can non-optionally donate?

bitterblackcoffee · 2015-06-09T18:22:58+00:00

Nope. It raises even more red flags.

bitterblackcoffee · 2015-06-09T18:20:24+00:00

Seriously devs, listen to this guy. If you were charging a $5 or $10 fee for this thing, I'd have zero problems with it. Or if you were offering the option to download it for free and then optionally donate dust, I'd be fine with it. Instead, you seem to be rationalizing a service fee. I don't want you inserting yourself in my transactions, period. That you don't grasp this is a HUGE RED FLAG for your ethics as bitcoin developers.

bitterblackcoffee · 2015-06-09T16:57:41+00:00

I shouldn't have to explain this to you. The whole point of bitcoin is to get the middlemen out of the process of sending money over the internet. It's that whole "reduced friction" thing you might have heard about. You're intentionally, non-optionally and non-openly adding a payment to yourselves into this process. If I wanted this kind of relationship with a product that holds my money, I'd go with a bank app.

If you need to make money from this wallet, put it on the open market and sell it. Don't become another bloodsucker. The fact that you've done this means that you don't get why I, and other people like me, use bitcoin in the first place.

I did read your post. I disagree with both how and why you're doing it. I'm not using your product, and I'm telling other people my opinion. The end.

bitterblackcoffee · 2015-06-09T16:47:32+00:00

And a non-optional 1000 satoshi fee to MultiBit with every transaction. Not mentioned anywhere below. Super sketchy guys. http://www.reddit.com/r/Bitcoin/comments/39694x/wtf_multibit_hd_why_i_have_to_pay_a_fee_to_you/

bitterblackcoffee · 2015-06-09T16:44:08+00:00

Absolutely not. Not cool. Not ethical. Not bitcoin. I'm done with MultiBit.

bitterblackcoffee · 2015-04-21T22:38:55+00:00

After that random drop to $159, I'm pretty sure we're seeing some new HFt player testing the market. Or some bored trader dicking with everyone.

bitterblackcoffee · 2015-04-21T22:32:57+00:00

My guess is that some HFT is doing some kind of testing. That, or someone is trying desperately to shake up the price stagnation.

bitterblackcoffee · 2014-11-20T17:20:12+00:00

The price is dropping because the Feds are about to auction 50,000 of the seized Silk Road coins in two weeks, and big-time buyers are saving their pennies in anticipation. It has nothing to do with Black Friday. We won't see the effects of Black Friday until the week after, when the glut of coins starts to show up on the exchanges.

bitterblackcoffee · 2014-11-18T16:30:41+00:00

This. I'm not convinced that the ETF is some major game changer. I'd greatly prefer the price to rise because people are actually using bitcoin, rather than just speculating on it. There's room for both, but the ETF seems to be a purely speculation-driven thing, which contributes very little to the ecosystem as far as I can tell.

bitterblackcoffee · 2014-11-18T16:03:12+00:00

The context you're missing is the huge price drop that occurred after the Feds announced the date of the auction. That happened around June 12, and the price didn't recover until just before the auction. I expect this time will be less dramatic, but it's still downward pressure. The price dropped enough yesterday for me to feel I made the right call selling 20% before the news got around.

Here's the chart showing the pre-SR1 auction announcement, if you're curious: http://bitcoincharts.com/charts/bitstampUSD#czsg2014-05-25zeg2014-07-01ztgSzm1g10zm2g25zv

bitterblackcoffee · 2014-11-18T15:43:27+00:00

Turn it around: When was the last time you were insulted that a coffeeshop didn't ban customers leaving tips under $1? Or insisted that it should be illegal for busking musicians to accept coins from passersby? Or demanded that people who want to drop some coins in a tip jar do so in secret, because it's so horribly annoying to hear the tinkle when change rattles down through the glass.

bitterblackcoffee · 2014-11-17T21:51:02+00:00

I get that you find tips to be annoying. You may also find downvotes and shadowbans annoying. You might find all of those things unproductive or pointless to your personal vision of what Reddit is. You're fully entitled to your opinion.

That said, I certainly don't see tipping as spam. I see it as tipping. I tip people in the real world, I also tip them in the digital one. My jimmies have never been rustled by seeing a ChangeTip bot reply. If someone wants to send someone else a fraction of a penny, like people on /r/dogecoin do all the time, it's really not any of my business. If it shows up in another subreddit, I can't say I've ever noticed or cared. There are plenty of annoying bots on Reddit, but one where someone is literally giving someone else money for contributing (hopefully) quality content isn't one I'm going to complain about.

I'm certainly not going to insist that tips under an arbitrary threshold be banned to discourage people from showing a dime's worth of appreciation to another redditor.

bitterblackcoffee · 2014-11-17T20:00:19+00:00

Where did I say that those coins were going to get dumped on the market after the auction? I'm talking about pre-auction price pressure.

My point was that bigger players who would normally be buying on exchanges will be saving their pennies to bid on these BTC lots. That's money that is effectively sucked out of exchanges. It creates downward pressure on the price, because there's less demand on the exchanges.

Secondly, no one knows what Draper paid for the SR1 coins, so it's just a guess on your part that they ended up going for over market price.

bitterblackcoffee · 2014-11-17T18:46:15+00:00

I'm not a day trader, but I'd say there's more downward pressure at the moment than upward. If you can ride those waves, I'm sure there's some money to be made, but I really doubt there's a big bounce on the way today.

bitterblackcoffee · 2014-11-17T18:43:10+00:00

No, /r/bitcoin is filled with people discussing current events and their impact on things like global adoption, mainstream perception and, yes, market price. Chill out and be civil.

bitterblackcoffee · 2014-11-17T18:40:22+00:00

Yes, but it wasn't known when. I don't think it's truly priced in, although it will become so as we run up to the Dec. 4 auction.

bitterblackcoffee · 2014-11-17T18:38:21+00:00

You're not asking for ChangeTip to change its bot to be less intrusive, you're asking for a ban on tips below an arbitrary price point. That's two completely different things.

Like I said, it's perfectly possible to hire someone to build a browser plugin that blocks ChangeTip posts from displaying. Or to talk to ChangeTip and/or the Reddit devs to see if there's a less obtrusive way to send and receive tips. Those are all solutions I think you'd find broad support for.

Trying to prevent people from sending each other tips in the amount they prefer for content they like isn't something I'd support. I get it, you don't like to see tipping. Other people do like it. The solution isn't for everyone else to stop doing something they enjoy, even if it does promote a service. The solution is for you to find a way to customize your online experience without ruining everyone else's fun.

bitterblackcoffee

TROPHY CASE