|
It certainly could reach high value... However, in gentle words of Robert Crumb, wishing won't make it happen. The only way it could happen is if enough people invest their time, work, and money into the system. Now, you could just sit on your ass and wait for others to break sweat, or you could get to work.
Can you code? Can you manage a project? Can you talk? Can you teach? Can you sell stuff? Do you drink coffee? Do you paint? Are you a lawyer? A drug dealer? Planning a vacation? There is room for Bitcoin everywhere. Work on it. Ask your local shop to accept coins. Help them set it up. Risk portion of your savings. Design solutions. Spend your coins. Earn them. Trade them. Give them away.
|
|
|
|
Thank you Niko for the question. As a newbie I was cautious to ask that and really don't understand the arguments for these "ASICs therefore BTC down" claims? Can someone please elaborate?
It's understandable that some people will try to get their ROI as soon as possible and sell at least the amount worth of equipment, but I don't see that as a reason for a "meltdown"..
Just look at the trading volume in major exchanges. Add to this OTC estimates. We are talking about millions of coins traded per month. Freshly mined coins represent few percent of the overall volume. It is absolutely insignificant. Miners can sell all or hold all, it does not matter at all. |
|
|
|
Your opinion
You have not defined time frame, so your question is broken. Bitcoins will certainly reach any chosen value one day. Perhaps in 2013, perhaps in 2015, perhaps in 2133, perhaps after the Casascius coins are unerthed from the underwater archeological site in 6788, perhaps in 1234441, perhaps... The question is: are you able to wait that long? |
|
|
|
|
Could you elaborate on mechanisms by which ASICs may "put downward pressure on the price of BTC"?
I fail to see any connection.
The data clearly shows something else: the price of BTC drives mining difficulty, including efforts to develop next-generation mining technologies.
That's all there is to it.
|
|
|
|
The solution is simple: don't run Bitcoind on the same server as your webserver. It's much faster to have it dedicated, and simply connect/issue commands/grab data via API format.
This should provide for more security, too. Sorry, I know these are not answers to your question, it's a workaround. However, it's a good workaround. |
|
|
|
The thing is they trust each other as they are from the same group.
No need for Bitcoin, then - especially not with an exposed private key. No need for any currency, for that matter. Simply trust that your trading partner will honor the debt in the future. Or use Ripple  |
|
|
|
|
Interesting thread.
If your desire for anonimity is driven by tax evasion, consider the overall cost of the two scenarios ("legal" - taxed, vs. paying a premium for a tax-avoiding option).
If it is about stolen coins, the only option is an "anonymous" cashout.
I'd say in-person cash trades are the least risky option, unless you already are under watch.
|
|
|
|
|
What's the point? The way Bitcoin works, there is always plausible deniability. Transaction inputs need to add up to outputs+fees - you cannot really "track" coins when there is more than one input.
|
|
|
|
There is no timestamp in transactions. Blockchain.info is reporting the time it(as in the blockchain server) saw the tx. Obviously something was wrong with their clock. Block number is the timestamp. You should refer to the block the transaction was included in. Included In Blocks 237189 (2013-05-21 11:30:02 |
|
|
|
The most important thing for bitcoin right now, in my opinion, is that people use them. It will be hard for bitcoin to move forward if people don't. I would like anyone interested, therefore to state:
* Whether they have ever bought anything with bitcoin. I would also find it helpful if people who have never bought anything with bitcoin could contribute to give a realistic picture.
* How much (in vague terms if necessary) they spend a year with bitcoins.
* If they have never bought anything with bitcoin, why not.
* How they think people might be encouraged to use their coins in transactions to stimulate the bitcoin economy
I think that such responses could help give a feel for the state of the real bitcoin economy as opposed to just mining and speculation
Cheers.
Yes. I bought a t-shirt, subscriptions to two different services, and donated to quite a few causes, big and small. In all cases, transacting in bitcoins was easier, simpler, and faster than using a credit card. Another important use case for me has been international money transfers, as luckily there is enough liquidity in both markets. Again, simpler and cheaper than going through the old routes (once I got everything figured out and set up). This came to an abrupt stop after Dwolla/Gox fiasco, and I haven't bothered re-evaluating my options. As for the encouragement, I know a person who has been carefully advocating Bitcoin use among the local businesses in my town. I shall not be spilling the beans here at this point, but it seems that in a week or so we will have a locally-owned chain of coffee shops accepting BTC payments. Also, it is a good idea to include "bitcoin accepted" whenever you are selling something through online classifieds like craigslist or kijiji. I am contemplating getting some wine from the Rollingdale Winery. As bitcoin transactions are not reversible, I try to make sure the seller is reputable or otherwise low-risk. |
|
|
|
|
Signed.
Also, I am willing to contribute to the legal-defense fund.
|
|
|
|
|
I hereby retract my earlier comment, but will not be deleting it. The notes are for real.
|
|
|
|
I remember marveling at it by the year 2011, that there are two bitcoin markets operating in poland, one of them I can still remember being intersango, and now MtGox's bank account is in Poland again. Why all these market flock in Poland? Is it because it, despite being in eurozone, doesn't use EURO thus is less restrictive about transfers in EURO?
I also would like to know the history behind Bitcoin in Poland. Back in the days Zloty were among the top bitcoin-traded currencies by volume. Even today, the volume is higher than, for example, Canadian dollars. At the same time, I don't hear much about Bitcoin-accepting merchants in Poland. Makes you wonder, right? |
|
|
|
|
This would also be a good place to remind people of Moore's "law" - the fact that, since the mid-20th century, the cost of data storage and the cost of computing power have been decreasing exponentially year after year, regardless of technological challenges, market crashes, or anything else. Surely Bitcoin may go througn growth spurts, but eventually blockchain growth will become linear (when we hit the block size limit, or when we remove the limit and let the transaction frequency reach an economic equlibrium based on tx fees). Either way, I see no big problem, and I've been running a full node for several years without any additional cost.
|
|
|
|
This sounds wholly inaccurate. It is perfectly legal to buy or sell bitcoins using a bank account. Coinbase does tends of thousands of transactions every day.
Can you post the letter from the bank?
Must be more involved here.
He was moving thousands of dollars through is personal accounts to do arbitrage across exchanges. You should at least talk to your branch manager before starting this kind of activity. Really. Because using a bank as a bank is a bad thing. But maybe he was using too many free wire transfers..... wait.... wire transfers are not free.... Ok. I get it. They were making too much money on him and wanted to stop. I could imagine if he was constantly moving money around for free, but not for fees. He was doing business, and these may have been personal accounts. Banks structure their workload and expectations differently between personal and business accounts. This whole sad problem may be as trivial as the distinction I just pointed out. Add to this the possibility of AML flagging, an occasional idiot in the corporate office, and general ignorance of what Bitcoin is, and you get high likelihood of what is described in here. I, too, wanted to run multi-currency arbitrage. Developed algos, tested them on historical data, but after weeks of preparations had to give up precisely due to admimistrative overhead. It's not easy doing it right. |
|
|
|
New and old users often express concerns related to the growth of block chain. Mike Hearn clarified some of the work that is being done to address the problem, and retep added some relevant comments. Can we have the thread sticked? https://bitcointalk.org/index.php?topic=252937 |
|
|
|
Do you want a third-party non-entity bitcoin escrow? We're only talking about 20,000 bitcoins right?
Coordinates = privacy issues.
Photographs = should be taken by any camera, then cleaned up of exif data before uploading.
What do you mean by "privacy issues"? Unless he is selling his grandma's house without her knowing... The next owner could post the coordinates, right? So everyone would know it was that house that was sold. What's the big deal? OTOH, this guy is selling something and asking to see my money without even showing what he is selling. Privacy my ass. |
|
|
|
Seeing is believing. The image is of Pekka Siitoin, who ruled the Finnish neo-nazi movement for decades until his death in 2003. He was also the "Luciferian archbishop" of Finland.  By "distributed" you mean you posting it in this forum? |
|
|
|
|
What is the reason for not posting coordinates or photographs? I cannot think of a good reason.
|
|
|
|
Its actually a great metaphor for bitcoins when you think about it-maybe too good.  When I think about it?! Right. Don't squeeze your coins, or they might scar. Bitcoin is just a phase I' m going through. Bitcoins grab attention. Bitcoins ruin mirrors. Too many coins may be a medical issue. Sudden onset of coins may be a sign of poisoning. WTF? Please hehelp. |
|
|
|
|
Show Posts
