Still, people are investing their own money in Bitcoin. Question is, do you want to bet against 87 percent of top economists? You bet I do. |
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Che poi sia in corso una campagna denigratoria nei confronti dei bitcoin è indubbio (e parlo in generale)
+1 Bitcoin non è solo un eccellente strumento monetario, è anche un ottimo spartiacque per: 1) Verificare l'intelligenza delle persone, e la loro apertura mentale 2) Capire realmente da che parte stanno |
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The usual, boring stuff... But why, I ask myself, those clueless people does not read some forums?  First, because an expected fall in bitcoin prices motivates people with bitcoins to delay, as much as they can, their bitcoin expenditure (why buy something today if it will be cheaper tomorrow?). Why buy today a PC when tomorrow it will cost less and be more powerful? Nodoby should have a PC (or any other electronic device, for that matter). Why buy today a meal when tomorrow it will cost less? Everybody will surely prefer to starve... |
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A notable quote: My humble recommendation to venture capitalists to avoid further regulation or an outright ban is to quickly convince global charities to use the bitcoin system for both donations and money transfers. It is, after all, ideally suited to the purpose of taking in money in rich countries and efficiently moving it abroad to places with limited financial infrastructure. According the National Philanthropic Trust, individual Americans gave $218 billion in 2011, the most recent information available, and there are over one million charitable groups operating in the U.S. Presumably they all have bank accounts to process payments and would like a more efficient way to distribute funds. |
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It'll continue to grow, but I wonder how many will treat bitcoin as a store of value in the meantime increasing the price to crazy levels???
The more they are valued, the more merchants will be interested in getting them. |
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This project is currently being worked on. I've just one Bitcoin Magazine, #5, where you made the whole last page with the bitinstant paycard and written "they're coming", with the url: http://bitinstant.com/Paycardand it does not work... Not a good start A whole page with just an image and a link, and you don't even check if it works? |
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its supply supposedly is controlled by a rigid computer program "supposedly" lol |
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That seems a very very interesting comparison, kudos to Timothy Lee for this article.
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It may be more a sign of the times and current society that we live in that a message of peace and non-violence is found to be "unspeakable". These are not times for lily-livers and weak of heart who fear speaking the truth to power. This. And it's really very sad that that sort of auto-censorship is promoted by the bitcoin foundation. Please include Jon and Roger on the list, and if their interviews will not be appreciated rest assured that mainstream journalists will learn very fast how to avoid them or censor what they said. That's their job. |
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http://mises.org/daily/6411/The-Bitcoin-Money-MythThis must be the same guy at mises that a couple years ago on the forum wrote something like "a bitcoin now is worth around a $ but it will soon plunge to zero". Some experts maintain that Bitcoin will displace the existent fiat money and will usher in a new era of free banking, which will finally put to rest the menace of inflation.
Unfortunately, this is a pipe dream. Electronic money will not replace fiat paper money. The belief that it can stems from a failure to understand the nature and function of money and how it emerges on the market. Observe that a bitcoin is not a thing; it is a unit of a non-material virtual currency. A bitcoin has no material shape; hence from this perspective the notion that it could somehow replace fiat money is not defendable. Besides, Bitcoin is not a new form of money that replaces previous forms, but rather a new way of employing existent money in transactions. Because Bitcoin is not real money but merely a different way of employing existent fiat money, obviously it cannot replace it. Summary and conclusion
Contrary to the recent hype, we hold that Bitcoin is not money but rather a new way of employing existent money in transactions. The fact that the price of bitcoins has jumped massively lately implies that people assign a high value for the services it offers and nothing more.
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So far I was just thinking that in a free world people have the right to use as many energy as they want, but when this energy consumption is a race to obtain some valuable resource (monetary symbols, for instance), the amount of energy involved can be humongous, indeed.
Technology advancements are hard to predict: in 10 years maybe new form of power could be developed that could bring cost of electricity (both economical and environmental) close to zero. Maybe someone finds a viable way to harness anomalous heats produced by LENRs, or new nanotechnologies could convert efficiently solar light, or genetically enginereed bacterias could create energy converting wastes. Who knows? |
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That was a very good one, I hope they have a big audience |
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I think Nick Colas did a great job on this interview, giving all the right answers at the right moment. Bitcoin owes a lot to him.
+3 |
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I can't imagine him being a single person. If he/she is, must be the Newton of our age.
The nice thing is that maybe 10-20 years from now, when Bitcoin will be used in all major institutions as a world wide currency, he can get out and tell us his (or their) story, and he will be able to prove he is who he claims to be because he can sign a message with the key used to create the genesis block. |
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