I still think most people aren't buying now despite the mass awareness of Bitcoin, because they think you have to buy a whole coin.

No, I know for a fact that's what most people think. So they aren't buying. "Because it's too expensive".

This is why we need the Winklevoss ETF as soon as possible.  This is when Bitcoin value will shoot to the moon. It will finally be on a "legitimate" exchange. It will finally be easy for the masses to buy. It will have security / insurance backing it (I believe?).

More importantly, it will be sold already in divisible amounts. I believe $25 per "share". This is when the general public will realize you can get in on Bitcoin at fractions of it's value.

Until the Winklevoss ETF goes live, a huge chunk of investors will remain unable/unwilling to access Bitcoin.

How long until approval or rejection by the evaluators?

Playing devils advocate here.

It's been bothering me lately, thinking about this. Consumers have absolutely no motivation to use Bitcoin. And because of that, I don't understand how it will ever go global.

All the motivation is for merchants. They avoid merchant fees. They get no chargebacks.  But they're also going to get no sales (aside from enthusiasts), because consumers have no incentive to use it, whatsoever.

Where are the perks for consumers, in a situation where they're buying something with bitcoin?

The only benefit Bitcoin brings to consumers, is money transfers. People who send money Home to their families in other countries. Bitcoin will corner the market that Western Union currently dominates. And probably put it out of business. While that is a huge industry, it's a fraction of how big Bitcoin could become if consumers used it for purchasing.

What incentive do consumers have to use Bitcoin at all? None. And because of that, it's never going to be adopted worldwide. Again, playing devils advocate here. I want to hear people's responses to this. Because in my mind, it seems to be true. And that is depressing.

You may say, it's just like cash, what motivation do people have to use cash. Or it adds a level of privacy. But these aren't significant enough benefits for a worldwide paradigm change. We're talking about adopting a new paradigm here. There needs to be incentive, for people to even bother making a huge change like this. Especially when it's more difficult than cash. More confusing than cash. More ugly than cash, requiring people to understand several decimal place fractions and other complicated things. So not only is there zero incentive to use it, but there are several reasons why they wouldn't.

There needs to be something huge, global, significant, about Bitcoin that will motivate people who buy things to say "Forget this silly cash! Forget my credit cards!"

Tell me why this is wrong. Please.

This is outstanding news!

Is the above IP address the IP address of this website?

It looks like a couple of people reported this on their support forums. And they've reported that they are looking into it right now.

Why does it repeatedly say it's currently blocking a malicious attack from an IP address? The IP address is located in the Netherlands. Seems like if it just put a site on a blacklist, it would say "this site is blocked". It wouldn't say it just blocked a malicious attack from a website. 

Because he's not talking about Bitcoin specifically. He's talking about not investing his money in the first version of a brand-new technology. Therefore he probably has no comment on Bitcoin itself. He's just passing on it because first versions of major paradigm changes often are inferior to second versions.

He didn't say he's going for an existing competitor.  He said he's going for what will be invented next, in response to Bitcoin, whatever that may be, because the implication is that it will be superior.

Solution?  I was about to wipe my computer.

Grix

That link doesn't work.

At least not on my iPhone.

Just to clarify, I haven't clicked anything, downloaded anything, or run anything from any emails. I'm very aware of that kind of stuff. The website just went dead yesterday. I'm not thinking this is on my end, but I guess it's possible. If that's the case, it's already on many people's computers.

Yeah, it's definitely not just me…

Guys,

Read what he's actually saying.

He saying you never buy the first version of anything because it's full of bugs.

He's making no comment about Bitcoin itself. He's make a generalized statement about waiting until the second model of a brand-new car before you buy it. He's basically just conveying good common sense.

The flaw in his logic is the Bitcoin has new versions within itself…

When I try any web browser on my computer, I get a dead page for this forum, and Malbytes anti-malware gives me a pop up saying that it blocked a malicious attack from IP 109.201.133.195

No such problems on iPhone or iPad.

This has been happening since yesterday morning. I went into the Bitcoin chat room and several others are having the same problem. Yet I see nobody mentioning, or talking about it.

Exactly. They don't rip the cells to shreds. They vitrify them. It's like plasticizing. You guys should read up on the newer technology for cryonics. You sound like stock market guys trying to comment on bitcoin :-)

Winklevoss said something like if BTC matched Gold's market cap each coin would be worth $400,000

  You couldn't sell on Coinbase?

What happened?

Interesting perception, and I hope you are correct.   Very well may be.

I just can't stomach that we're hovering around $600 and China apparently is above $1,000.

There should be ONE EXCHANGE for the whole world, owned by no company.  

Bitcoin SHOULD have had an exchange built into it.

But you cant convert.

So whats the point of even talking like "we" saw $1000.  We didn't.

In fact whats the point of living in shtty USA if everyone in China is getting twice as much per bitcoin when they cash out?

I can't stand this country sometimes.

I think a bunch of us need to put together a plan to figure out how to cash out in China, when the time comes.

There's no way im taking the bare minimum (Coinbase) while Gox taunts me with its comparably shitty, but higher rate, and BTC China roars in laughter

Howso?

"Senior U.S. law-enforcement and regulatory officials said they see benefits in digital forms of money.  US officials called it a "legitimate" financial service.  Federal Reserve Chairman Ben Bernanke said that virtual currencies "may hold long-term promise, particularly if the innovations promote a faster, more secure, and more efficient payment system."

- Wall Street Journal today

Best news Bitcoin has ever had.   Period.

I think about this thread all the time.

It makes me feel good.

I think about it when im getting ready for work.  I like the title.  It sounds super sexy and motivating.

I think this thread needs to stay near the top.

The power of suggestion in seeing this thread Title in the list will only help Bitcoin grow.

You'd be amazed how people are manipulated by the power of suggestion.

So lets say I have a friend in Costa Rica who just offered to open a bank account for me under a corporation that would be (legally) created, so that I could withdraw from Mt. Gox.

Would that be a feasible option?

My portfolio is *monstrously* larger on Gox across all my coins, than it is on Coinbase .... the only place I can withdraw from because I live in shitty USA.

Any efforts resulting in Gox trade price withdrawal would be worth my time and effort ....

Same question for China:

What if you could simply spend $600, fly there, open a bank account, and take advantage of their $1100 USD trade price?

That would be even bigger.

(Just referring to the final cash-out, when the time comes)

Thanks for any insight.