GUESS: $30

A repeat of June 2011 will occur with the repeated crash after a one day spike.

Is it pure Bitcoin or is it mixed in with other currencies?

Imagine a program that uses processor cycles and pays people for the use of those cycles in Bitcoins. It does not pay each of its users in Bitcoin every time but it creates a sort of "lottery" ever few minutes of who will get the Bitcoin and those who provide the most processor cycles is the most likely to win this "lottery".

With such a system, more and more people will be willing to put their processing power toward winning this lottery and thus expanding the processing power of this program. As Bitcoins become more valuable more and more people will start putting more and more processing power toward running this program.

It will then reach a point where it overtakes all other computer programs in processing power growing continuously larger by the day.

The name of this program?

Bitcoin.

Half go to the miners. Half go to Satoshi. This was his plan all along. We all fell for it!

I had a Palm Pre that had a linux OS running on it. That was several years ago. How is another linux phone a big advance?

The latin translation for fiat is: "Let it be done."
 
It is the present subjunctive of "facere" -- to do.
 
That it why it was used to mean an order or decree in former times.

But it does not necessarily have to require government to decree that "it be done".

When a new block is solved and 25 BTC are distributed, you could say that the Bitcoin protocol itself is saying "let it be done". Thus issuing currency via fiat.

The question is, are people willing to accept the decree of a protocol of equations and numbers as opposed to by government decree.

Then there is the idea that all 21 million BTC have already been created, they just have not yet been distributed.

$12.75

So what stops someone from putting out such an offer and then not paying the cash?

It still comes down to the trust factor.

I am interested if you come up with an escrow function.

I do see this as something that would be good to have several Bitcoin escrow companies that compete and provide the trust needed.

SELL SELL SELL!!!

Umm...Wichita Kansas is to Bitcoin what Silicon Valley is to the computer industry.

Buy property there quick because it will all soon cost a lot of BTC!

Ya but...what happened with the bill?

I know Bitfloor used to allow a free deposit of cash into their bank account but I do not see it on their website anymore.

Banks are holding those homes because selling them will result in a loss on their books.

If the bank has a loan on a house valued at 300k and the owner forecloses, their books show that they now have a 300k asset.

With the drop in the market that house may now be valued at 100k or less.

If banks dropped all of their foreclosure homes, their earnings reports would show huge losses and scare off investors making their stocks plunge. So keeping the properties at their inflated value is to their advantage even if the house crumbles into a heap of wood.

It is a flaw of only appraising a home's value at the time of purchase. If there were yearly appraisals these homes would be dumped left and right.

I would have done worse than him before my 6 months in Toastmasters where I learned how to speak in front of crowds and they taught me to not use "um", "ahh", "you know", etc...

But I would still likely be nervous in front of an audience trying to explain everything there is about Bitcoin. I have seen some great speakers speak on all aspects of the technology from the economic perspective to the technological. I would have had a hard time describing the blockchain portion of it up until a few months ago after diving into the code of it, and I would still only be able to give a general idea of it with difficulty if someone wanted more detail on the cryptology portion of it.

But in all actuality, I could easily consider myself a "Bitcoin expert" in front of a group of people who have heard nothing about it and want to learn about it.

Face it, most of us are geeks that have some good knowledge but are not comfortable in the area of communicating. Especially in front of a large audience that ended up being somewhat hostile toward the end.

If I were to do something like that I would have a speech prepared and limit the questions and say "we can discuss that further afterwards" often.

What would bring Bitcoin to your grandpa, dad or the kid with the ice cream would be a debit card that can instantly convert your Bitcoin account to the local currency.

And if that same card can be fueled by direct deposit of your grandpa's SS check which is then converted to Bitcoin until he needs to spend it.

AWESOME!!!

so...um, what does this mean?

Quite cool. I will definitely use this.

The price will drop back down under $4 when people cash out to buy Christmas presents like last year.

I much prefer keeping my private key written down than backing up my wallet.

I found it difficult to import my private key when I needed to spend money from that address. I could only do it from the command line and only had access to my phone and tablet at the time. I had to install the client and download the blockchain to my work computer which took a while.

I wish there was a way to import on the Bitcoin App.

Best time to buy is when you start to see questions such as "is this the end of Bitcoin?"