Just FYI, we escrowed an additional 5 BTC to dooglus, waiting for his post on forum and signed for verification. Will update our thread when he does  Thats a total of 10 BTC now in escrow. regards! lets hope that this campaign lasts a long time unlike most other campaigns have. I am really surprised less then 10 days and they have all spots full all 100 members enter in this new campaign good competitor for PD We will have to wait till the first payment goes through, although they have 10 BTC in escrow. |
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I can buy them off you with paypal, and you can buy anything you want . Risky, because you can dispute the transaction later on and reverse it.  |
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The most profitable position in any economy is control of the cost of money. The closest you can come in the bitcoin economy without a semi fab is owning bitcoin. As long as a venture involves exposure to fiat the likelihood of outperforming bitcoin is vanishing rapidly with that exposure. The only position I know of which is likely to outperform 100% bitcoin holdings during a bubble is leveraged holdings.
You should also mention that is the riskiest way to invest. For business, there is turn over and profit. Owning coin without profit is just gambling. By owning bitcoin, you have a stake in the overall bitcoin economy. |
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Honestly, if you believe in bitcoin invest in bitcoin. Why bother with these start up companies to make a quick buck when there is so much risk. If you do decide to invest, just do your research (as always when investing).
The start-ups are less risky because they can easily change from bitcoin to another altcoin that (could) becomes more successful then bitcoin. The start-ups are merely betting that crypto currencies in general will be widely used. I don't personally think an alt will ever overcome bitcoin, but if this were to happen the start-ups could still profit. which is one reason why venture capitalists are pouring their money into bitcoin-related start ups. |
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Sadly the law suit won't have much ground to stand on and will just be brushed aside.
I doubt it will be brushed aside, but I don't think the plaintiffs will win. This looks like a way for class-action trial lawyers attempting to bully their way to get a settlement from facebook so they can get paid. This was said above, but it should be said again that the best way to stop the spying is at the polls. There should be lawsuits outside the US as well. Maybe in Europe... |
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was arbitratry for bitcoin also? i remember 21M come up from a math equation or some other calculation
Ethereum's Vitalik Buterin wrote about this last year. Thus, all in all, the total number of currency units that will ever exist stands at 2,100,000,000,000,000: 2.1 quadrillion, or about 250.899. In choosing this figure, Satoshi was much luckier, or wiser, than most people realize. First of all, the number is considerably less than 264 – 1, the largest integer that can be stored in a standard integer on a computer – go above that, and the integers wrap around to zero like an odometer.
Second, however, there is another, lower threshold that the total satoshi count manages to fall just below: the largest possible integer that can be exactly represented in floating point format. Integers are not the only kind of number that computers can store; to handle decimal numbers, computers use a format known as floating point representation.
[...]
Notice how scientific notation allows you to express all of these values with reasonable accuracy despite their wildly varying scales. Floating point notation is essentially scientific notation in binary; when you store the number 9.625, your computer stores “1.001101 * 1011” (or rather, it stores 01000000 00100011 01000000 00000000 00000000 00000000 00000000 00000000, which is the same thing in high-precision serialized form). In this high-precision form, the “significand” (the part that’s not the exponent) has 52 bits. What this means is that high-precision (more precisely, “double precision”) floating point numbers are good enough to exactly store integers up to 253, but not higher – if you go higher, you start lopping off digits at the end. Bitcoin’s 250.9 satoshis are, in exponential terms, just below this maximum. Very interesting. What about other altcoins (i can think of dogecoin) whose total number is above 21MM. Will they run into problems at some time? |
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For someone who is not a computer geek and has not owned bitcoin yet, getting some seems indeed a hassle. (People recommend signing transactions on a separate computer, not connected to the internet, and then moving the signed TX to the main computer via USB stick. I presume that 99% of mankind would stop reading right there.)
People will adapt. This is exactly the same story which was with first e-mails, smartphones etc. Information will spread. Also, herding behavior is very strong with people, just look at the success of whatsApp - whose business model is "pay for something you already get for free". They only succeeded thanks to the herd behavior. And the herd day of bitcoin hasn't really come yet. People using bitcoin right now are like people who used Nokia Communicators or Windows Mobile palmtops. And yeah, it is worth noting that when the smarphone revolution really kicked off, both Nokia and Microsoft missed the train. I think this will turn out to be very true. Over time people will come up with ideas to make BTC more user friendly and easy to use for people who are not technically inclined (circle possibly). People will also understand bitcoin better then they do today. True. Everybody uses e-mail these days. But how many are bothered about the protocol which makes this possible? |
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Primedice will probably lose a lot of people because other campaigns are paying more but I still think primedice will always be the best campaign.
There is just one which is paying more. And it has not yet made its first payment.  |
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So is every other fiat currency in the world.....
/Topic
Cash fiat is a target for criminals, however it generally will have a smaller percentage of total transaction volume of criminal transactions then what I would estimate that BTC has.  I disagree. Fiat cash has and will be the most preferred way for transacting in the criminal world. Cash is more anonymous than bitcoin. Look at the numbers involved here. http://www.globalresearch.ca/money-laundering-and-the-drug-trade-the-role-of-the-banks/5334205”The identified problems included a once massive backlog of over 17,000 alertsidentifying possible suspicious activity that had yet to be reviewed; ineffective methods foridentifying suspicious activity; a failure to file timely Suspicious Activity Reports with U.S. law enforcement; … a 3-year failure by HBUS [a HSBC affiliate] , from mid-2006 to mid-2009, to conduct any AML monitoring of $15 billion in bulk cash transactions … a failure to monitor $60 trillion in annual wire transfer activity by customers …
And this is just one bank.  |
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Do all governments think regulation is their primary job?  The bitcoin economy seems to have developed pretty well without (or because of) the government not intervening. Gov regulation will happen, the mainstream wont use bitcoin without it so as long as its "reasonable" regulation we all get rich and have extra resources to create bitcoin 2.0 to move the goal posts further. I agree. Mild government regulation will likely cause bitcoin to get an additional amount of legitimacy and will cause increased levels of adoption. We just have to hope that the government stops at 'mild' regulation. |
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So as everyone keeps coming up with these new coins and new algorithms, how do they decide how many total coins to offer? I know LTC is exactly 4X as many BTC. Can anyone shed any light on this, or is it completely random and up to each individual coin maker? What are the possible positive and negative impacts on a somewhat random, finiate amount of coins?
You already had many good answers to you question. I also think it is important to mention that the "coin makers" (called devs) can chose to add a "premine" to the genesis block (the first block). The word premine is a bit misleading, since nothing is being mined, they have simply started with giving themselves x millions coins as a rewards for making a new revolutionary coins that everyone should invest in. I don't know if "revolutionary" is really the proper term to use. Most alt coins provide no value that bitcoin cannot provide and their network is much less secure then the bitcoin network. Even 1 or 2 of these altcoins has a brilliant idea/feature implemented, it will be worth it. And which is why speculators keep throwing money at altcoins. |
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If each country adopted its own coin then it would remove one of bitcoins greatest features which is that it is an indiscriminate, borderless currency.
Bitcoin would still be the 'USD' to all the different countries' coins. |
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it is difficult to invest without risk
Of course, profits come parallel with risk. Higher risk = higher profit Lower risk = lower profit Not always the case in fact the majority of the time it varies on different cases higher risk doesn't mean you will get higher return if it is successful. Has to be true. If there are 2 assets with the same current price / expected return, and one has higher risk, who will invest in the risky asset? This implies that the price of the risky asset will come down (to attract investors) thereby increasing returns. This is assuming efficient market, with well-informed investors. You will have some people investing in high risk, no return (scam) schemes. |
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I don't think there are any legal concerns but it might not be trusted because of the nature of Bitcoin and all the scams that have gone on.
It is a wonderful way to get new people acquainted with bitcoin and increase its use. Of course, this is assuming that the winners of the treasure hunt do not get scanned out of their bitcoins. |
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Very good idea to invest into a 1,000,000$ self-valued company, that has about 10$ per days is sales.
Offers like this is what make the regulators think of coming into the bitcoin domain. And they should. Costumers need protection from such malicious sites! But the problem is, when they do come in, regulation tends to be overarching.  |
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Price is now 588. If it go up to 1000, that is more than 40% profit, so I won't call it nothing.
Calculation - If price goes up from $600 to $1000, the profit is $400/$600 (~67%) and not $400/$1000 (40%). So the profit is substantial. |
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Very good idea to invest into a 1,000,000$ self-valued company, that has about 10$ per days is sales.
Offers like this is what make the regulators think of coming into the bitcoin domain. |
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I support neither inflation or deflation, because both have harmful effects. Both redistribute wealth and lead to market distortion. A stable currency is preferable in my book.
Most currencies are generally stable by most economists' standards. Countries also generally try to keep their currency as stable as possible (expect when they run into money problems - Argentina). I don't this it is really very realistic to be able to make a country's currency have neither inflation nor deflation (and keep the value exactly the same) as there are too many market factors affecting the value of a currency. Stability reduce the risk and ease the long term project economic calculation. A volatile currency is the sign of un-healthy economic system. Even a known and low inflation/deflation can be factored in to any economic calculation. It is the threat of high inflation/ volatility which is dangerous. |
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everyone here is still an early adopter, the party hasn't even started yet.
i don't think people realize the implications of bitcoin, people think this is as far as it goes.
do you really think the best form of money humans ever had will continue to have a market cap of only 7.7 billion usd?
apple's market cap is 567 billion usd.
gold's market cap is 6.8 trillion usd.
bitcoin is pretty much the same as gold only you can actually use it to buy things instead of just hoarding it,
for bitcoin to reach gold's market cap the price per bitcoin needs to be about a 1000 times more than today.
1000 times - If that happens, I will be satisfied with 1 BTC. |
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