No.

-B-

If you're using weather balloons, why don't you just do it this afternoon?

I don't know how much one costs, but buy a weather balloon, slap a shitty iPhone 3 onto it for filming, and launch it into space tomorrow morning.

There are tons of youtube videos of people screwing around, sending things into space.  Its really not that hard using this method.

And it will garner about as much interest as the effort required to do it.

-B-

OP:

1)  The venture you're offering seems (please don't take offense) kind of cheesy.  To those not in the tech world, all they will see is "Big Bang Theory" cast member / ComiCon enthusiast nerdyness.  Especially with the whole "Bitcoin Space Federation".  Its really important that you are aware of your audience if you want to drum up enthusiasm and support for something.  You're marketing to a miniscule demographic.  

2)  I don't see how putting a flag in space is going to be "something epic" for Bitcoin.  It meets no need.  It does nothing to make the non-Bitcoin person's life easier.  Therefore it will not increase demand for Bitcoin.  Therefore it will not (by definition) do anything to make the price go up.  The vast majority of people out there will roll their eyes and think of it as a silly endeavour that has no purpose.  You might get a couple mentions in a couple articles, at best. If you want to do something "epic" for bitcoin, find a functional need in the infrastructure and start a business that provides for it.

3)  What's it going to do when it gets there?  Orbit earth, wadded up like a paper ball along with the other 100,000 bits of space junk?  At least the company planning to launch a blockchain node into space is meeting an important need for redundancy and security.  Maybe you can email those guys and slap your flag on the side of the thing.

-B-

If we are, I plan to be a kind and gentle ruler.  

-B-

Pretty sure this needs to get addressed sooner than later.

I realize some things take time, but two years to fix a known bug is a wee bit excessive.

-B-

Let me play Devil's Advocate on this one a little:

If its true that 90% of Bitcoins are hoarded .... wouldn't it stand to reason that if that 90% were suddenly dumped into bitcoin commerce, the availability would go up by 90% and therefore the price must go down by 90% ?  Supply and Demand.

Tell me why that's wrong?

I suppose more importantly, it could be totally right, but nothings says its going to play out that way.  And the chances of it doing so are probably microscopic.

-B-

Price increases don't necessarily have to happen in spikes.  A healthy ecosystem sees gains gradually.
According to Andreas Antonopoulos, the spike that occurred when China got on board resulted in literally "hundreds and hundreds" of startups being formed.  They are all currently in the formation stages, regulation stages, and funding stages.  It is expected that they will begin providing their innovative services tied to the Bitcoin protocol by Q2 of 2014.  According to Second Market, Wall Street is also about to pour "hundreds of millions" into the Bitcoin economy sometime between Q1 and Q3.   This may not mean another instantaneous spike.  I may not be (literally) sitting at dinner, and watching my portfolio value go up by tens of thousands of dollars in between bites of my food like last time .... but there's every reason to believe BTC will hit $5,000 or $10,000 by the end of 2014.

-B-

The prices are different, and proprietary, because Coinbase is not an exchange.

They are a broker.

They purchase the coins, and sell internally.  This is how they make some purchases "immmediately available" when they haven't even pulled your money yet.

They buy at X price, then sell to you at X+X price, to make a profit on their purchase.

As for the comment above that Coinbase is for noobs who don't use other exchanges ... can you clarify that?  

Are you saying that experienced users prefer to spend $40 to do international wires and wait a week for the money to arrive, hoping and praying that the price hasn't changed $200 by that point?

It's almost as if you're not aware that there are other exchanges.......... . .... . ... ..  . .... ...

He's right. You have no idea what you're talking about Armis.  

"Dropping like a rock" ?  Its almost as if Bitcoin didn't exist a month ago no chart exists that you could look at to help you retain perspective.

I've had this conversation with 3 people this week.  "I heard Bitcoin is crashing HARD!"

When I tell them it was $13 a year ago, and currently $700, its almost as if they can't figure out why they're so dumb.

Rational perspective is not the strong suit of much of the human race.

-B-

Love it.

Please consider adding Andreas Antonopoulos, and Elon Musk, and the CEO of Overstock if possible.  Though Elon isn't a vocal Bitcoin proponent, he is the personification of that entire Steve Jobs quote.

A larger Bitcoin at the end, that is crisp and clear, would have a more dramatic punch.

-B-

Huh???   Nobody is withdrawing in USD from Gox here in the USA.   Nobody has been for months, and months.  At least not without waiting months and months to get their money.  Its hardly the exchange that the USA has been using.  Totally dead opposite in fact.  What are you talking about?


Who is relying heavily on Gox?  ??   Definitely not "we"  (USA).  They had their US bank accounts frozen 9 months ago.

Gox has only been repeatedly referenced in the media because their price is always the highest, and its fun to say "BTC is worth $1100!" when its actually trading at 900 on all the other exchanges.


Huh??

The big investors (wall street, etc) have used SecondMarket and exchanges like CoinBase in the USA.  

The big investors in China used BTC-China.

Man ... your information is so way off in so many ways.

:-/

-B-

The current $700 is a good price.

A very good price.

I would not try to "get smart" and think you can predict what will happen.

Had so many friends tell me im clueless and they're "waiting for a big crash".

Thats when it was at $250.

They're still waiting.  They never got in.  Now they're screwed.

The days of seeing 700's ever again, are numbered.  I would get in and hold for 5 years.

In the last 9 months since I first discovered bitcoin, this speech has repeatedly resurfaced in a thousand different ways, as I have learned, evolved, and grown in my understanding of Bitcoin.

If I had never heard this speech, I don't think i would truly grasp why Bitcoin is so significant.  And what it is poised to do on the world stage.

I realize its an hour long.  

But I can't recommend it enough.  It will give you an incredible foundation for your understanding of Bitcoin.

Its that big of a deal.

https://soundcloud.com/mindtomatter/e39-2-the-starfish-and-the

(you can skip to 8:00 to get right into it)

Hope this affects people as immensely as it has affected me.

-B-

OP:  Do you *really* think Bitcoin is as simple, small, and centralized as MtGox ?

Seriously?   This is the basic concept behind Bitcoin.   That no single entity could ever "bring it down".

I would encourage you to do some extensive research on what Bitcoin is.   And decentralized networks.

Gox could completely die, Bitstamp could completely die, and Coinbase could completely die tomorrow.

Bitcoin would not die.

I highly encourage you to listen to this speech on decentralized networks, and why they never die when one "branch" is cut off.

Very important speech. Everyone should listen to it:

https://soundcloud.com/mindtomatter/e39-2-the-starfish-and-the
(skip forward to 11:00)

I had to select "its just another investment to me", but that isn't a very good phrasing.

 because "IM ALL IN!" isnt true

and "I only got a little" isnt true.

I invested a significant amount but im not "ALL IN".

Its definitely not "just another investment to me" though ...

The options might better read based on % of saved money invested in BTC.

20% of my savings invested in BTC
50% of my savings invested in BTC

I have a question.

Why.

Why.   Why.   Are you guys trying to decipher patterns in something that *isnt* a company stock?

Bitcoin price changes happen in response to *RANDOM EVENTS* that occur.   Good events.   Bad events.

Good news.  Bad news.

Nobody could have predicted China hopping on, therefore your "charts" with "lines" on them showing that jump in price?   They have zero meaning.  

Likewise nobody here had a clue that China would clamp down on bitcoin, NOR the subsequent drop in price.

It was an event. 

You cant predict "events" so why are you pretending there is "meaning" and "predictability" in any of this?

Your predictability is based upon human psychology and human behaviors in a setting that is *constant* like a company stock.

Bitcoin price changes in response to random *events* that may or may not ever happen.

Spoken like a true 18 post guy.

-B-

If you are this easily influenced by a minor price fluctuation, then:

1)  I would advise investing in something else, because you are never going to make it to the time when BTC is worth tens of thousands per coin.  You wont survive the roller coaster.

2)  You aren't familiar with past trends of Bitcoin which just repeat over and over, and therefore don't understand why its nothing to worry about.

3)  You aren't aware of whats going on in the Bitcoin world / infrastructure / startups / Wall street funding / international conferences, so you are going to stress hardcore over fluctuations.

I have a few friends like this, and I have, at this point, begged them to sell all their BTC and invest in something else.

-B-

I think we've passed the tipping point where the phrase "It could be worth an immense amount, or it could be worth nothing" is no longer a valid phrase.

The possibility of it eventually being worth nothing, is gone.  What does that leave?