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1221  Bitcoin / Bitcoin Discussion / Re: 15-Year-Old Makes $100,000 on Bitcoin on: June 12, 2014, 10:42:05 PM
He did a nice investment like most of us, but he was lucky not to have lost them in scams or trading at loss.

Based on the viability of BTC at the time, he was essentially buying a lottery ticket. He may have been able to see the fundamental value in the blockchain concept and made a good bet.
1222  Bitcoin / Bitcoin Discussion / Re: What is your favorite positive Bitcoin news story so far this year? on: June 12, 2014, 10:40:02 PM
Best news: Expedia has started to accept bitcoin for hotel rooms.

This is only the best news because it is the most recent example of a big company starting to accept bitcon.
1223  Bitcoin / Bitcoin Discussion / Re: Paypal surveying about bitcoin. on: June 12, 2014, 10:39:10 PM
If this is survey is administered to all their users (mainstreamers) pay pal will realise that 95% of the population sees no need for bitcoin

That would be true today but that is only because people are so accustomed to paying the hidden "tax" of using payment processors that process paypal, credit/debit card transactions and the like in the form of higher prices.
1224  Bitcoin / Bitcoin Discussion / Re: Marriage as a contract in the blockchain. on: June 12, 2014, 10:36:57 PM
Any contract that you enter into is something that may need to be enforced in the future and you would need to use the state to enforce such contract.

The best way to setup smart contracts on the blockchain would be to set up a trust that holds a particular asset then have the trustee direct the "benefit" of the trust to the holders of the BTC address that contains the outputs linked to the contract.
1225  Bitcoin / Bitcoin Discussion / Re: I'm having some doubts about whether it's ethical to make money off of Bitcoin on: June 12, 2014, 10:33:03 PM
You mean like a ponzi or pyramid scheme?  Supply and demand drives the price.  If all buy and sell stopped at one point in time the price will remain frozen.  But if all started selling at one time, the price plummets.  The rawest form of supply/demand economics there is.  Are there winners and losers?  Of course, depending on how you define "winning" and "losing".

i think his main concern for bitcoin is that it is neither a physical object and isn't backed by anything tangible or real.

can't we say the same about buying stock though?

And gold.  What would be the realistic price of gold if it was valued only by it's "tangible worth" ( jewelry and electronics) ?
If gold ever did get valued at it's actual usefulness or "tangible worth" I strongly suspect it would be worth far less than silver.

It would likely not be worth less then silver if silver was also valued at it's "tangible worth" as gold is more efficient and has more uses then silver.

Investments like gold and silver will never will never be valued at their "tangible worth" because there are other legitimate uses for them (store of value, hedge against inflation).
1226  Economy / Services / Re: New 400 BTC Bounty Pales Roger Ver's 37.6 BTC Bounty for Return of Stolen BTC on: June 12, 2014, 10:30:28 PM
Nice bounty....I'm fairly new to this forum but read quite a bit about your quest to get your BTC back. Hopefully this will help.

I hope that you get your coins back, but I believe that it is a long shot that your bounty will help.

The reason for this is that you are asking for the wrong outcome. By offering 400 BTC to get your ~1.1k BTC back you are essentially saying that you will give someone money if they give (get) you more money. Due to the fact that whoever holds the keys to the address that contains the unspent outputs of BTC owns the coins there would be little incentive for someone who was able to somehow get your coins in their possession to return them to you.

A "better" bounty would be one that offers 400 (or other amount) BTC for the arrest (or indictment, or conviction - it is up to you) of the person/persons that stole the BTC. This would give people an incentive to spend time and resources investigating who stole the coins and would also give an incentive to return all/some of the stolen coins.
1227  Bitcoin / Bitcoin Discussion / Re: Did Ghash cause the price drop? on: June 12, 2014, 10:23:35 PM
Id guess it has to do with the DPR coins.

But were the DPR coins exchanged for cash or just transferred to the DPR 2 wallet?



It looks like they were just transferred to another wallet. When you transfer to an exchange the exchange will usually sweep the coins from the "deposit" address. The price drop is probably due to anticipation of a large amount of coins being brought to the market in the near future.
1228  Other / Politics & Society / Re: Australian government grabs money in bank accounts dormant for 3 years on: June 12, 2014, 10:21:50 PM
In the US after bank accounts (or other assets at a financial institution) have been dormant for a certain amount of time the assets are sent to "unclaimed funds" so the bank no longer controls the assets, but the assets are still property of the owner, the owner just needs to claim them.
1229  Bitcoin / Bitcoin Discussion / Re: FBI coins on the move! on: June 12, 2014, 10:19:31 PM
Well I'm glad someone was keeping tabs on the FBI coins
If they sent them to an exchange that would explain why the price was dropping  Grin
The FBI coins are to blame lol.

And the beggar threads begin
https://blockchain.info/address/1i7cZdoE9NcHSdAL5eGjmTJbBVqeQDwgw

There are several large addresses that have begging spam on them. I have never sent begging spam nor have I sent funds to an address asking for a donation but the public notes are very entertaining to read.
1230  Bitcoin / Bitcoin Discussion / Re: FBI coins on the move! on: June 12, 2014, 10:17:27 PM
https://blockchain.info/tags has now tagged the new address as "DPR Seized Coins 2", with a link to https://bitcoin.org/en/. They only allow such a link if the page contains the address in question. The site doesn't currently show that address, however. Did someone at the Bitcoin Foundation receive these coins, or simply take the opportunity to squat the link by temporarily adding the address to the page? I'm guessing the latter, but it would be incredible if the seized coins did end up in the hands of the Bitcoin Foundation!

As a rule the link on address tags must contain the BTC address on the page. Also as a rule in order to create a "tag" someone with access to the private keys must sign a message allowing the tag to be changed.

There are several exceptions to this rule when blockchian.info will just create a tag on it's own. These tags are very similar to media reporting as the tag would serve some kind of legitimate public interest to know the significance of a particular address.
1231  Economy / Economics / Re: Worst bitcoin decision you've ever made? on: June 12, 2014, 05:48:22 PM
Not offering to buy someone a pizza in exchange for 10,000 BTC.
1232  Economy / Economics / Re: Bitcoin vs Uber on: June 12, 2014, 05:47:43 PM
Bitcoin market cap:  $8.3 billion
Uber the taxi app:  $18+ billion
 
Is it just me, or something is wrong with this picture  Huh

You are comparing apples vs oranges.

Urber is a company with revenue and (hopefully profits in the future).

Bitcoin is a "currency" and a method of transmitting money.

Over time as more of the public adapts bitcoin the price and market cap will increase. 
1233  Economy / Economics / Re: Working in USA on: June 12, 2014, 05:45:42 PM
Thanks to all for your opinion.. I guess you are absolutely right... If one is talented and can showcase his skills, he is sure to be rewarded... But, I don't agree with you on the saying that standard is pretty much same all over... I guess standards are completely different in different countries..
Some countries you get appreciation too quickly especially in places where there is a shortage of labor and places where there's enough supply, it is really tough to walk up the ladder...
In UK there is a lot of opportunity and also if you will see the unemployment rate of US and UK, there is not a big difference. In US, unemployment rate is 6.3% and in UK its 6.8%. So on this basis also no one will suggest you to go to US for job without any reason.
The job market is extremely bad in the USA. With the different emerging economies, there is a demand of skilled labor in countries like Brazil, various African countries. However, many people want the comforts of working in the USA. It really depends on which field you are in.

The cost of labor is getting too high in the US.

There isn't really anything US can produce that the rest of the world can't do it at cheaper cost.
 




The cost of labor in the US is not as much of an issue for people who have advanced degrees (like the OP). If the OP's degree is something math, science or business related then the job market in the US is not horrible, although he may have difficulty getting a work visa.
1234  Economy / Economics / Re: First Bitcoin ATM in China - Ooooh Wheee! on: June 12, 2014, 05:43:54 PM
It has been said before but this is not the 1st bitcoin ATM in China.

With that being acknowledged, bitcoin ATMs help get the public aware and interested in Bitcoin. They also are very effective in getting the local public to use bitcon. Just look at Vancouver.
1235  Economy / Economics / Re: Cex.io: the largest Bitcoin cloud mining service, not a profitable investment on: June 12, 2014, 05:42:14 PM
you are right
I've tried mining cloud over there and I felt no benefit at all because too many fees

It is not just the fees, it is that the price that most cloud mining companies sell their contracts are at a level where the rate of difficulty increases would need to slow substantially.
1236  Economy / Economics / Re: MtGox btc when? on: June 12, 2014, 05:41:07 PM
you will be lucky if you ever see any of your BTC ever again.

I disagree with this statement. The OP will likely see some kind of recovery as GOX does have some assets.

The fact that Bitcoin is involved will likely complicate things as there is no precedent for how distribution should be handled, plus the fact that GOX has creditors from around the world and are relatively small as a percentage of total claims.

IMO it will take several years to resolve GOX and the OP will see some kind of recovery.
1237  Economy / Economics / Re: All Wars Are Bankers' Wars on: June 12, 2014, 05:38:28 PM
bankers need oil to back the usd as a reserve currency
since usd is off the gold standard
if all the oil is not using usd.. usd will experience hyper inflation and the usa will have to close their offshore bases and cut back on military. they will effectively be neutured

As an American I would love to see our government "neutered."  Our military should defend the homeland and that is it.

We tried that in WW2 and as a result the Nazi's (and axis) were able to easily defeat most of Europe and was able to control most of the pacific. We got attacked even though we tried to stay neutral. 
1238  Economy / Economics / Re: Investment advice? on: June 12, 2014, 05:35:02 PM
For really long term, real estate is probably the best investment out there.

Your statement is probably correct, however in the context of it being correct the term "really long term" would probably be longer then the OP's time frame that he is looking to invest.

Real estate has traditionally gone up over time (when looked at nationally) although our most recent recession proved that to not always be the case. Prices in some of the hardest hit "bubble" areas (Much of FL and NV) will probably not recover to their pre-recession highs for many decades. If you were investing in a pension fund for example (whose time horizon is essentially "forever") then real estate is probably a good investment as long as it is not too concentrated. The OPs time frame is probably not more then 50 years (assuming the OP is 20 years old and wishes to retire at age 70) and real estate may or may not be higher then.
1239  Economy / Services / Re: [PrimeDice] [Highest Paid Signature] Earn up to 2.4 BTC/Month by Posting on: June 12, 2014, 11:15:38 AM
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1240  Economy / Games and rounds / Re: ★☆★ 777coin.com - The Modern Bitcoin Casino! ★☆★ [Free mBTC!][Get Yours Now] on: June 09, 2014, 04:17:56 AM
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