There is technology in development that will allow countries where there is no internet connection to make Bitcoin payments with mobile phones and SMS messaging, it's specifically being trialed in africa, but I've forgotten the name of the company doing it.

Edit: Oops! Windpath answered before me! yes, it's M-pesa!

There is also an example of somebody who actually worked out a block on paper too

http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html

LOL! Yeah to be honest, there are times when I feel assured by this level of ignorance, because it really lets you know just how much of an early adopter of Bitcoin you are, even the newbies here are still early adopters compared to a lot of people out there, I still have plenty of time to build up my funds before the big investors move in.

When you have a deflationary currency everything becomes cheaper, why people are against this is beyond me especially when we keep experiencing what happens with inflationary currencies like the dollar that dramatically jack up food and housing prices is beyond me. No, the USD isn't going up, it's the value of Bitcoin otherwise you would need to sell 100 Bitcoins in order to get 1 Dollar, but then again, lots of people here are proving to me they don't actually know what Inflation and Deflation actually is.

Don't you wonder why we can sell mere fractions of Bitcoin for so much money? It's because they're printing so many dollars that it's become so expensive to buy Bitcoin even with this recent slump just to get some coins. Deflation in a depression is the end game of inflation and it's a good thing, because it's esentially the economy resetting itself back to a stable level but what happens is economists like to panic and claim this is a bad thing and they pump the economy even more causing an even worse crash than before.

One of the biggest reasons that Bitcoin is so popular, particularly amongst people calling themselves Anarchists and Libertarians is it allows for trade without borders, this means money can be sent to and from a place without government approval for a very cheap cost ( I take issue with the people who claim it's free, it's always $0.01 or so otherwise miners wouldn't make any money ) it also follows a strict logic of having only 21 million coins ever in circulation which means that no one should ever be able to hyperinflate the currency.

Part of the reason that everyone 'thinks' Bitcoin isn't needed is because they haven't felt the effects of a depression yet, but just wait, when the next stock market crash happens people will be running for the hills and won't give a shit about what Bitcoin is anymore because it will look dramatically stable compared to paper money.

You haven't even done the maths right, which is why I seriously object when I see even professional journalists making the classic mistake of using percentages, the point is it's several hundred billion dollars that has no limit vs an absolute hard cap of 21 million coins, in this case, the percentage means nothing. Also, you're completely ignoring the fact that not only will there have been billions of new bills printed but also that there will be billions more in bonds and digital numbers created constantly compared to Bitcoin where again the hard limit is only 21 Million.

A limitation on the money supply always affects the price, that is why precious metals have always been worth more aside from their applications in industries, also you and a number of people when discussing economics don't write in plain english, you blatantly make up bullshit and when you get it wrong you make up for it with complicated vocabulary you don't understand in order to cover it up.

Yet again people like you prove that you have absolutely no understanding of how currencies are created or how the overall supply affects the price.

When have people ever listened to reason and logic in regards to Bitcoin?

I do think it's unfair to be doing that kind of thing before them being proven guilty, I have hopes for Bitstamp so I'm not going to run around passing judgement just yet, they have been nowhere near acting as dodgy as MT.GOX did.

So you're saying to me that within a month there is more Bitcoin mined than dollars printed? Do you have any maths to back that up? Because I happen to know you are also full of shit if you're claiming that. There's a reason that the Bitcoin price is so high and it isn't that Bitcoin is valuable, it's that the dollar is so worthless, the central banks are printing stupid amounts of paper each month, Bitcoin and precious metals are simply honestly reflecting how much printing is going on.

How about actually reading what people with far more knowledge than you write and do some research on the subject instead of just mindlessly ranting against something you know nothing about?

Are you a fucking moron? Do you even know what inflation means? I think these guys must be paid trolls to come up with crap like this, Bitcoin can't be inflated because it is limited to 21 million coins, you aren't even using the word inflation correctly, if anything it's a deflationary currency, not that you'd know the difference. I wonder if people from the somethingawful forum decided to make some accounts here to come and mess with people here, the people posting this bullshit are acting like Bitcoin insulted their mothers somehow.

Well the whole Bitstamp craziness is happening because apparently a wallet was compromised so the Bitstamp staff have decided to shut everything down while they work on the problem which is actually a pretty sane procedure, as for it dropping this low I'm not sure but I'm fairly convinced it's going to be the start of something big with this much volume floating around.

I do think that one of the reason is because the price has been dropping in general anyway a lot of scared people are dumping all their coins which is why it's going even lower and why you're also seeing so many shit posts lately about Bitcoin ending and how the world is going to end etc. etc. I've seen this hundreds of times and it's always a number of people that decide to shit themselvse and go on a selling spree and are trying to convince others to do the same.

What's going to happen is people are going to be buying them up even more now the price is so cheap and it could well kick off a new rise, I'm glad something interesting is finally happening personally Also, I happen to think that with the other markets everything is far too high right now and a collapse could be happening in this years first quarter because they've gotten the Christmas pump done now to make everything look good and now the whole system is going to crash.

Anyone who has actually bothered to look at the way Bitcoin works and used it will tell you no, the people claim it is are making statements from ignorance, if you actually get them to explain their arguments you will regularly find they have absolutely no understanding of Bitcoin or the blockchain technology it is built on that makes it so unique.

Oh yeah and the people who claim it's a ponzi scheme also clearly don't understand what a ponzi scheme actually is either.

Dunno, don't really pay much attention to the stats though I'm sure others will be able to tell you.

Took me two years

yeah, it's green alright.



A mass worldwide adoption of nuclear power would be the most disastrous thing to ever happen to our human species, the environmentalists are so crazy about carbon dioxide they completely forgot about nuclear radiation. I haven't even gotten into how difficult it is to get rid of the nuclear waste involved with nuclear power and believe me, the more you learn about uranium and the methods used to create nuclear power the more you realise how utterly fucking terrifying it can be even in the right hands.

Japan ran their nuclear power plants like a military base and it still wasn't enough, it's just too unstable to use safely right now.

Joca97? If you're the username I'm thinking of I believe you were making shit posts and I reported you, it's incredibly easy to not get banned off this forum, just don't spam bullshit and write coherently to other posters, it's that simple, why do people keep coming here and acting innocent?

Interesting point I thought I'd make here, while the Bitcoin price certainly has gone down difficulty is holding and going up slightly sooo

HODL!

I'm actually going to stash my coins for the moment, there may be a buyback that causes Bitcoin to rise again because of this, it's just a question of what will trigger it, finally, something interesting is happening.


This asshole again? He's fishing for attention isn't he? It's like Bitcoin did something to him personally lol.

Bitstamp has been attacked recently, as one of the biggest exchanges out there since MT.GOX that will likely be affecting trade, I'm personally sitting on my coins until the price goes up, all the merchants rely on third party APIs so seems a bit silly to spend them right now.

Yep, it's a big thing that's an ongoing investigation right now, not really much else to say about it because no one really knows anything so it would be just pure speculation but I'm not surprised about it, the BBC is involved as well as a number of politicians. Like with the phone hacking scandal it's all essentially a mass conspiracy amongst the media, politicians and police to keep things quiet.

Psst! Hey Americans! Still wondering why I want to leave this shitty country yet?