My fav chart (3-year log trend) indicates $200 at the end of this year, $500 next May and $1000 next September.  |
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above link is broken!
fake news?
Not quite. In the last couple of hours Tech Crunch have pulled the article because the company is a scam operation. It was probably feedback from this forum which alerted them about it. |
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Some day I'd like to see accounting software that uses Bitcoin addresses for individual accounts, let's you book entrees and move money around all day internally off blockchain, then at the end of the day balance out all the transactions and post the resulting ending balance transfers to the blockchain. That would allow for a third party permanent public record to reconcile to, and would allow a company to run its accounting finances on the Bitcoin network without spamming it with transactions (you can do multiple transfers between multiple addresses in a single transaction). That may contribute to blockchain bloat a bit, but it the verifiable account entrees in the chain may be s service businesses would gladly pay for.
Yes. That's the sensible middle-ground which hopefully will be reached in the future. It reduces the problem of small transactions hitting the blockchain, but also keeps the blockchain open for all, instead of restricting it to bitcoin-banks similar to how the Fedwire system operates. |
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Matthew, how long have you been active with Bitcoin? Why worry now that the internet might be switched off?
This is really a scenario to stick in the doomsday basket, like what happens if a large asteroid hits the planet, or Iran nukes Israel or global warming melts Antarctica. The internet becomes a more persistent structure every day, and meshed into everyone's lives. Any government which tries to cut it off has to be in a life-or-death situation, like in Syria or North Korea. There would be mass-starvation and social breakdown first. People would be bartering food for guns, petrol for medicine.
The beauty of Bitcoin is that any post-disaster society would have a currency ready for use when their internet was stable again.
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I don't think we'll see a "huge" jump in price in the short term But I do not believe the consolidation period will last long, and soon the price will continue to explode upwards of 3000$ a coin. Regulating the exchanges will once and for all legitimize bitcoin; This newly found legitimacy will create opportunities for entrepreneurs, as all their legal concern will be answered. I expect some really crazy and interesting applications of bitcoin to be developed. undoubtedly some of these new things will open up bitcoin to a whole new group of people. this is where it gets interesting. as people see real world examples of bitcoin improving the world economy, all hell is going to break loose and the world will rush to take part in the monetary revaluation! banks as we know them today will become obsolete; and with that, wealth will spread throughout the world. Everyone will feel rich, and will spend accordingly, the power structure will be reorganized by default, and pretty soon we will realize that their is no need for money, humanity will work not for money, but to better themselves.  bitcoin! after the first sentence i thought this is just another pessimistic dude... but it wasn´t. like... Well. He was a pessimistic dude... https://bitcointalk.org/index.php?topic=144166.0...but I am happy to say he has joined a whole load of us in the bull-herd  |
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Fascinating piece. It's surprisingly upbeat, even while revealing details about the massive amount of red tape it requires to be "licensed" in the US.
"You can spend only a medium amount of money (in business terms; for a basement startup, it is still very much prohibitive) and get the licenses in several years, or you can spend more to get them faster. Tradehill currently has two lawyers per engineer hired to work on compliance issues."
Government has been relentlessly growing in size every decade. http://www.econlib.org/library/Enc/GovernmentGrowth.html#lfHendersonCEE2-075_table_024This bigger it gets the more petty bureaucrats need to feather their nests.This licencing is a glimpse into how desperate the situation has become. |
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You sir must be a genius, how you came up with such a unique and interesting theory that has never been brought up before is one of the greatest mysteries to ever face man kind  He's even more genius than that. He built a time machine and went back into the past and discovered this marvelous theory, and brought it to the future to share with us. |
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if we can keep up this slow and steady action we've been seeing during the weekend, i think next week will be very interesting  I think people have been saying next week will be interesting for a few weeks now. I think we are starting to see a nice stabilization and if we do see any drastic spikes upwards out of speculation we can expect to land somewhere around where we are at currently. well I'm saying next week today... the prospect of cheap coins was the only thing that was holding us back..... people are confused.... its like they forget what's really happening here.... That's fantastic! The revolution keeps picking up steam. |
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Christ we've all turned into a bunch of cynics... Bitcoin is turning into big money. Imagine all the scams when BTC = $1,000. Every low-life on the planet will be scrambling to part the unwary from their coins. |
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Hey fellow crypto miners. We have developed a new PCI-E ASIC bitcoin miner, We are also working on a scrypt based miner using http://www.parallella.org/ boards linked together each of those boards are 45ghz with 64 cpu's with mutli threading programming scrypt mining will be amazing on them. But that is coming later. Our PCI-e ASIC miners are based on the avalon CHIP (we ordered 10,000 of them). Hey VPSguy83, check out some of your competition: https://cryoniks.com/#!/app/frostbit/ They are offering a supercooled Avalon-based ASIC 1.0 Thash mining unit. Cheap price too, makes all your money back in just 3 days, then profit! One big advantage over yours is that it can upgrade to mine Litecoin and perform 3D video graphicsCan yours be upgraded as well? |
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Their FAQ is a riot: e.g. CAN I USE MY FROSTBIT™ CRYONIC UNIT TO MINE FOR LITECOIN, PROCESS VIDEO, OR ANYTHING ELSE? Our team will continue to make it possible to upgrade your FrostBit™ 1000 Cryonic Bitmining unit to allow for additional unit capabilities. Register for updates to learn more about the FrostBit™ 3D upgrade.  Looks like they have spent all their effort on a nice website before even learning about Bitcoin mining. Classic vaporware offering... |
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Complete crap. He tips his hand at the very end of the article, Paypal is not going to support Bitcoin, they already think the user base is comprised of only "zealots and criminals."
Bitcoin doesn't need backhanded "endorsements" from decrepit companies that should have been bankrupt years ago if not for making the very lucky decision of latching onto Ebay's balls.
Thanks for pointing that out, so I could just skim to the end. It was getting painful to look at that article with a leering photo of a used-car-with-banana-skins-in-the-gearbox salesman. |
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i'm sorry about the confusion in the hash rate but its 1900gh/s - 2100gh/s for half the cost of the 50gh/s BFL miner....
How can you fit 7000 chips on a PCI slot and provide 15kW to it? How can you produce a product 80x better than BFL's when they have several $million in funding? |
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Are you kidding me? Me trolling? Dude, you are asking for 100 BTCs!!!
You and your 150 years of combined experience colleagues can pull this out of their back pockets.
No need to come here to beg for money. I think you are the one who is trolling this forum my friend.
I'll let you go to run your little scam. See you in the movies.
A team with 150 years combined experience in circuit board making should be able to pool up a measly $12,000 to complete the project! Then offer completed units for sale with pictures and specs. |
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Seeing a time-compressed chart like this reminds me how much it has zoomed up already. Is it greedy to expect similar increases so soon? Even a gentle upward trend for the rest of the year would be a phenomenal result.  |
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Honestly. Just let this go and consider it fortunate that MtGox will help you get back into your account.
You are wanting compensation, not for a consequential loss (which is impossible enough) but a theoretical consequential loss (super-impossible).
You still have the Bitcoins. If they rocket up in value would you give Google half the profits because you weren't able to sell them before they went up?
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Interesting, but wouldn't bet on when the first one finally appears for public use.
(bitbitcoins - please put date before title)
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Umm, apparently there were some guys from india at the conference that said they needed transactions in the rupees range. I don't know what a cup of coffee costs in Bangalore but I can't imagine it is that much once the conversion is done ... http://www.numbeo.com/cost-of-living/city_result.jsp?country=India&city=BangaloreSmallest atomic unit here seems to 0.33L bottle of water at 15 rupees (about 0.0022 btc) ... although there is 1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) for 1 Rps. (about 0.00015 btc) LOL. But even those are larger than the 0.000054 Used to be able to get candy for 1 cent, occasionally 3 for a cent, in the days before the inflation megatrend.  |
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No idea about the pseudo coin, but Bitstamp is not located in the US nor is its bank.
Indeed. They are based in Slovenia (next to North-East Italy) https://bitcointalk.org/index.php?topic=38711.0The FinCen guidance is irrelevant to them. Not if they want to do business in the US. Mt Gox is incorporated in Japan but that does not prevent their US accounts from being seized or blocked. Hence why I said "US laws". So, are they doing business in the US if their bank account is in Europe? It goes down to the internet making a mockery of international borders. Gox does have US-based accounts. Many non-US companies ban US citizens because of FACTA. http://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-(FATCA) So perhaps that might be more troublesome, the reporting obligations the IRS wants for foreign accounts. Unless foreign companies want a US-based bricks-and-mortar presence, adherence is optional or politically motivated |
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Wow. And the Voice of the Banksters (also known as Financial Times) laughs at Bitcoin volatility...
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