Krugman is now hedging: Do you think Bitcoin will gain momentum and become a viable currency?
No. I could be wrong, but Bitcoin is harder to use than other forms of electronic payment, and lacks any fundamental source of value (unlike dollars, which can be used to pay taxes). It’s possible that Bitcoin will somehow become self-supporting, but for now my guess is that it’s largely a fad that will collapse one of these days.http://www.princetonmagazine.com/paul-krugman/This is the error which is obvious to many here, but not many mainstream economists. Bitcoin has enormous fundamental value because of its utility. Rapid, global, transfer of monetary value without third-party intervention, is fundamentally of value. The security of the system, through mining, and the cap on total issuance are pillars which makes the technology monetarily viable. There is a subtlety here: the stored value of Bitcoin derives from its ability to transfer value. Eventually Krugman will figure this out, but it will be hard to accept as he will still cling onto the inflation-is-good meme. I think Erik Voorhees' open letter to Peter Schiff on this subject is very good. http://www.reddit.com/r/Bitcoin/comments/1rxmk3/my_open_letter_to_peter_schiff_followup_from_the |
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It's 04:40 in the morning, so I should go to bed instead of watching this slow rally. I'll just play the Bitcoin rally song one last time  the next few hours are absolutely critical just say'n ....  Indeeed Popcorn is ready! I know...  |
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It's 04:40 in the morning, so I should go to bed instead of watching this slow rally. I'll just play the Bitcoin rally song one last time |
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How much in shorts are still up at Bitfinex?
8600BTC Look here. i like better this one
 Ty, ty  |
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How much in shorts are still up at Bitfinex?
8600BTC Look here. Thank you |
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How much in shorts are still up at Bitfinex?
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Never a boring day in the Bitcoin world...
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How much of the asks at Stamp are real? I guess they will start to pull back soon.
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Wall at Bitfinex down! |
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Well, this is getting ugly fast. It was a trap, folks.
...says the newbie. |
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Wall is down! |
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What if you lose your phone? You would essentially be locked out of your accounts unless there was some way to disable it without knowing the 2FA code.
Take a print screen of the QR-code as a backup when enabling 2FA. Then you can use this to configure your new phone. |
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PC: Trezor or Armory with offline wallet (cold storage)
Android: Mycelium (only for small amounts)
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Just for curiosity, if some day you use bitcoin to buy a car, how will you make sure that the address that you are sending the bitcoins to is indeed the car dealer's? What will you do if the car dealer tells you that they did not receive any bitcoins, and that their payment address is not the one you used?
You get a copy of the sales contract with the address and the QR-code before you transfer the coins. |
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The author is trying to sell himself and gold.
He is. But look at the facts and think for your self. |
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Instead of tracking a 10B market cap, you could track something like the market cap of various tech and money transfer companies. You should also use all 21 million coins in your magic number, since people already know they will exist and the market has theoretically already corrected for their presence.
Market Cap = 1 BTC price
MoneyGram = $36
Western Union = $440
Twitter = $1,380
GLD ETF = $1,538
SPY ETF = $8,231
Facebook = $9,517
Apple = $29,454
Gold = $352,525 Tax haven bank accounts = $1,428,571 (Source: RunToGold.com) |
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