Who cares? "Lost" wealth in BTC is the same as wealth donated to every other holder of BTC in the exact proportion of their holdings. It's a self-resolving non-issue.

Bitcoin is about world unity, not about individual nations competing, that tired old paradigm.

National competition is a metaphor for war, the total antithesis of everything beautiful about the future Bitcoin makes possible

Correct. That's because the plain truth is, Bitcoin is objectively superior in every conceivable way to fait scrip funny-money.

You cannot stop the truth from emerging, only swim against the current until you've exhausted yourself.



This is more true now, in the information age, than it has ever been before in the history of our species.

FTFY

When bitcoin does at least 1000 transaction per second.

"I have a lot of friends who are programmers. The programmers have always gone like, "Those [Bitcoin] guys are crazy."

And then, almost 100 percent of the time, they sit down, read the paper, read the code — it takes them a couple weeks -- and they come out the other side. And they're like: "Oh my god, this is it. This is the big breakthrough. This is the thing we've been waiting for. He solved all the problems. Whoever he is should get the Nobel prize -- he's a genius. This is the thing! This is the distributed trust network that the Internet always needed and never had."

So, one of the challenges is you take people who aren't professional programmers or mathematicians and then you expect them to understand it from a standing start. And it's daunting. And so then it gets a word attached to it, like "currency" or whatever you want to call it, and then people think that it is something it isn't. And you have a sense of this, but it's a much deeper concept than currency. It's the idea of distributed trust."
—Marc Andreessen (in conversation with Brian Fung)

Source: http://www.washingtonpost.com/blogs/the-switch/wp/2014/05/21/marc-andreessen-in-20-years-well-talk-about-bitcoin-like-we-talk-about-the-internet-today/

"I am against any nationalism, even in the guise of mere patriotism. Privileges based on position and property have always seemed to me unjust and pernicious, as did any exaggerated personality cult."
-Albert Einstein, My Credo (1932)

"Nationalism is our form of incest, is our idolatry, is our insanity. "Patriotism" is its cult. It should hardly be necessary to say, that by "patriotism” I mean that attitude which puts the own nation above humanity, above the principles of truth and justice; not the loving interest in one’s own nation, which is the concern with the nation’s spiritual as much as with its material welfare — never with its power over other nations. Just as love for one individual which excludes the love for others is not love, love for one’s country which is not part of one’s love for humanity is not love, but idolatrous worship."
-Erich Fromm, in The Sane Society (1955)

I suspect you may be right. When BTC is trading at 2500 $ +, no one will gasp at an 800 or 900 per coin auction bid.

Oh fine, I'll leave it alone. It just annoys me because Medium.com is a great site that deserves the traffic, and I don't like to see its traffic being hijacked in this way...

You are now. His company is a Palo Alto do-gooder startup. This is great for Bitcoin and the world.

Good read here: https://medium.com/@vaurum/tim-draper-wins-govt-auction-partners-with-vaurum-to-provide-bitcoin-liquidity-in-emerging-markets-88f04a1d8598

Another recommended read from the Vaurum site: The tech world's ethical crisis

I get excited whenever I see capitalists actually talking about ethics. The world certainly needs more of that.

Tim Draper had this to say:
“Bitcoin frees people from trying to operate in a modern market economy with weak currencies. With the help of Vaurum and this newly purchased bitcoin, we expect to be able to create new services that can provide liquidity and confidence to markets that have been hamstrung by weak currencies.
Of course, no one is totally secure in holding their own country’s currency. We want to enable people to hold and trade bitcoin to secure themselves against weakening currencies.”


May I humbly suggest we stop constantly throwing links at Coindesk (news aggregation) and instead link the actual source material?

Coindesk basically takes other people's news and re-posts it with a few words on their own site. it's a shitty, asinine practice and we shouldn't support it.

Excerpt from the article on tech world ethics:

"There have been many claims and debates of the past few days. People are trying to draw absolute boundaries around what is, and is not, ethical. The technical world won’t like this, but that is impossible. Ethics are not absolute. What is considered right one decade can be considered inconceivable in another decade. Just look at the Civil Rights movement and current feminist efforts for women to be treated equally and fairly as lessons in the constantly evolving state of ethics."

No.

I will feel elite when bitcoin is over 6,250 $

You're missing the bigger picture here - it's not about liquidity, it's about Bitcoin's market share of all wealth in the world.

Every new business that accepts Bitcoin as a form of payment adds value by adding UTILITY to the currency - when this is public and major FURTHER value is added as more people realize this isn't some fad, and investment continues to increase.

QFT.

Increased reward is almost always associated with increased level of risk. Remember that. And don't get too greedy.

Gotta love all these constant new accounts with 11 posts, posting apocalyptic mumbo-jumbo FUD.

People like you are my worst fear.

Normandy, D-day, World War II. Any other questions?

I'll give you one guess why that might be.

Hint:

Too true.

Could be the Federal Reserve? Google ? Kim Jong-Un ? Satoshi ? China ? ? ? ?

OMG it was totes Bruce Wayne.

Agreed, because most 'muritards don't have the maturity / patience necessary to reap the reward of a middle to long-term investment. Ours is an instant-gratification get-rich-quick culture.