Bitcoin Forum

I think I was told at some point that the price usually leads the news

This isn't always the case.

Foreknowledge of news can affect the price.

was what i was told right typically though?

Is there proof that bitcoins are illegal in Thailand? I was under the impression that this was BS.

Either way, it would still affect the market the same.

It's BS. No sources anywhere. Bank of Thailand can't even make laws and enforce them.

I found out about bitcoin when stumbling upon an article how bitcoin was dying and totally useless. The rest is history.

Most people need to hear "bitcoin" a number of times before they take it seriously. Also it's so much easier to explain bitcoin to someone, once they've already heard about it!

In the scenario that news is not known beforehand yes.

It's all about gaining credibility now. The more people talk about bitcoin, the more seriously it'll be taken, the more people will research it, the more they'll end up investing in it.

We need less investing and speculation and more actual real work application.

True. Bitcoin was originally envisioned as a sort of petty cash system for the Internet. But it's never been widely adopted for that. If you could buy iTunes songs or Amazon videos or even MMORPG game items for Bitcoins (directly from the vendor, not through some intermediary), then Bitcoin would have widespread use. That was a key idea - no need for a payment intermediary for small payments.

Instead, we have a speculative commodity. We also have one of the flakiest collection of vendors ever seen in any industry. Most Bitcoin exchanges are either crooked or incompetent.  The "online wallet" operations are worse. Even the people selling mining hardware act like flakes, with "pre-orders" and similar crap. This is embarrassing.

The problem is that Bitcoin makes possible unidirectional, irrevocable money transfers between distant anonymous parties. This is the con man's dream. If they can't find you, they can't send cops or goons after you. Too many crooks have realized that.

Well, now we know what's wrong. Next time, the system has to have some way that A can send money to B, but it's held in an intermediate state until a second event where A commits the transaction and releases the money to B when they receive whatever B was supposed to send them. ("Escrow agents" haven't helped. Some of them are crooks, too. This needs to be part of the transfer protocol.)

Credit cards have a two-phase commit system like that.  It's not that visible to end users, but you see it at gas pumps, where reading the card locks up some of your funds but doesn't transfer them to the gas station. Only at the end of the transaction, after the gas has been pumped, does the transaction commit.

Bitcoin for most people is very complicated and strange thing. Need a lot of time before a lot of people will be able to use it. Any news about Bitcoins pushes the price up? It`s not surprise

your impressions of bitcoin are quite dark. Have you been scammed?

I for one had pleasant experiences, no loss. I use my brain though :)

Same here.  I found out about Bitcoin after the "allinvain" theft.  I was actually very skeptical about Bitcoin in my early posts as well but that unfortunate news was the first step towards understanding what Bitcoin is and what it potentially could be.