A further complexity is that bitcoin, once fully adopted, will continue to grow, or shrink as the case may be, with the change in the underlying economy.
More appropriately it will grow or shrink with the change in the underlying internet economy (which proportionately is growing MUCH faster than the rest). Bitcoin's primary sweetspot, where it remains unchallenged and supreme, is for the internet transaction. For the worlds beyond the internet, it is mostly uncharted territory yet. Bitcoin needs proxies there, debit cards, gyft cards, fiat gateways, bitpay, coinbase, tangible currency (coin), and the rest. |
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Is it too late to get in?
Not until after 3 years If you are using bitcoins to buy something over the internet, it will never be too late to buy. As an "investment"? Who knows... |
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now I'm thinking back to 2010 and 11 and want to go back in time and invest all my money into BTC
Satoshi, the time traveler. |
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Share the wealth  Check out his cigar thread, he has been sharing the wealth, of another kind. Best deal you are likely to find. |
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2- All units are equal to a constant.
So, what constant is a dollar equal to which makes it a unit? Presuming you mean the US Dollar 371 4/16th grains (24.057 grams) of Silver when it was established. This was done by taking a bunch of the silver coins then in circulation, measuring them and averaging. ............ All this aside, bitcoin is a unit of account, in the same way that all other currencies are a unit of account. Just because it's value and purchasing power change does not make this untrue. Time, date, payment, all are recorded in the block chain so it makes for a better unit of account than any other currency commonly traded. |
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Does is scare anyone that a communist country like the USA or a communist region like the EU embrace it? Scares me more that they haven't. Besides, the US is more fascist than communist  Good mix of both, though. Maybe, though much more overtly communist than fascist. US has diligently followed Marx's manifesto increasing as it goes. http://laissez-fairerepublic.com/tenplanks.htmlWho knows what the future will hold though? |
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Does is scare anyone that a communist country like the USA or a communist region like the EU embrace it? Is it possible that the Chinese goverment itself is buying up bitcoins? For a couple billion dollar investment they could slowly and stealthily build a huge position. This has the advantages negating bitcoins as a risk to them, and building it as a risk against the US.
The US Government is the largest state holder of Bitcoin currently. If they want to catch up, they will have to have a bunch of drug sales organizers hang out there that they can bust and seize. Or just spend a lot. |
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A careful mathematical analysis done recently by both me and the other researchers shows that a solo miner with more than 25% of the total hash power and a magical ability to propagate her/his block faster than all other miners, will be able to make mining for the honest miners unprofitable, and theoretically become the only miner.
There are a variety of magical abilities to propagate blocks faster. These include both network acceleration and denial of service technologies. A well planned attack process would utilize both and if sufficient value is to be gained (say through a massive short position, or long on alternatives) high speed network links to NNIs adjacent to supernodes globally would be sufficient. The denial of service elements can be defended against to some extent, investment in HSN to NNI, not so much defended but potentially create a technology race. Though the racers are more likely to be the attackers than the honest nodes. At some point network investment ROI will be less expensive than hash-power ROI for attacks. It is generally easier to attack than to defend. |
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You have to manage your risk and they have to manage theirs.
Keep in mind that it is yet another online wallet. inputs.io went caput this week, there is nothing perfect.
I'm usually in LA and also there is an online exchange based in LA: CoinMKT.com so there are plenty of places to buy bitcoins if you need them.
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I look forward to issuing the 1 ozt Gold Bitcoin specie.
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The worst thing about it is having to foot the bill for every illegal alien / welfare family in the country.  What's next? Don't you love thy neighbour? Don't you wish to do them what you wish to be done to you? Give me your tired, your poor, Your huddled masses yearning to breathe free; The wretched refuse of your teeming shore, Send these, the homeless, Tempest-tossed to me I lift my lamp beside the golden door! Not like the brazen giant of Greek fame, With conquering limbs astride from land to land; Here at our sea-washed sunset gates shall stand A mighty woman with a torch, whose flame is the imprisoned lightning, And her name, Mother of Exiles. From her beacon-hand glows world-wide welcome; Her mild eyes command the air-bridged harbor That twin cities frame. "Keep, Ancient Lands, your storied pomp!" Cries she with silent lips. Give me your tired, your poor, Your huddled masses yearning to breathe free; The wretched refuse of your teeming shore, Send these, the homeless, Tempest-tossed to me I lift my lamp beside the golden door! ( Misery loves company ) |
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I'm not often a vocal defender of my country (the US), but I do suspect that the world could do worse when it comes to having a hegemon.
Good point. Which one can we get to be the next hegemon? The UK is still tired from the last time. Its often been said that the job of a leader is to decide and take the blame. China is looking like they might want the job, maybe we could let them wear the tall hat for a while? Its not as fun as most folks imagine. The Saud royalty would probably go for it if given the chance. Who else is in the running? |
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Bitcoin is the first engineered sound money.
I like this description of Bitcoin so much, that I decided to drop this in here. I think it's quite accurate. I dont get it. Bitcoin is the first engineered , sound money. "first" may be questioned, "best" wouldn't likely How about: Money over IP Email is Mail over IP - p2p communication without a letter carrier VOIP is Voice over IP - p2p voice (and now video) without a telco switch Bitcoin is Money over IP - p2p transactions without a bank |
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Would someone define ATH?
select max(price) from trades; Gotta love a place where someone can answer in SQL and no one bats an eye. |
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As a newcomer and "rediscovering" bitcoin exactly a week ago and now waiting desperately verification on bitstamp, imagine how i am now watching the price movements  . Although, the last 2 hours seem promising.  Sometimes faster coins are better than cheaper coins. If you want some today, check out localbitcoins or bitcoin-brokers (which is like local bitcoin but with concierge service) |
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I think we need to add the condition that BTC must stay above 1K for a reasonable amount of a time... An intraday bubble from 500 to 1k and back doesn't count.
How about 30 day moving average stays over for a week? Personally I still like linking it to IMF SDRs or bitcoin / gold parity, rather than US Dollars. Bitcoin is more global than dollars. But hey, we could throw a few more events out there. |
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The current administration can get more mileage out of blaming it on "patriots" or "tea party" mentality. Bitcoin is not sufficiently partisan for it to matter to political spin. Its is more of a systemic issue than a partisan one.
If the current govt administration tried to blame Bitcoin for this, as they are blaming the tea party and Christians for everything, it would only help bring attention to Bitcoin and make it more mainstream. The minute they talk about it, positive or negative, they bring publicity that even money can't buy. You underestimate the ease at which politicians can be bought. |
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