 That had an exciting 2011 feel to it. |
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Don't forget to change the size for our small screened brethren.
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Be warned. Once shorting comes back online this thing is going fall back down like a brick.
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A lot of people still don't get that average people don't give a crap about the advanced crypto tech
or egalitarian philosophy of bitcoin, but if they can save a significant amount of money then they
surely would consider using it.
It's a combination of cost and convenience. $4 per month gets me unlimited transactions on my bank account, I can transfer small amounts, and the charge for overseas transactions is trivial (I used my debit Mastercard to pay Amazon $27 last month and my bank charged me a whole 6 cents for making an international transaction). I'm willing to pay $4 per month for that level of convenience. Bingo. Getting in and out of bitcoin is actually comparatively really expensive, I think. |
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I guess if it is going to close in on 2011 highs (which I seriously doubt, BTW), at least the infrastructure is more robust and, bitcoinica aside, more secure...I hope.
ATTN: All these other exchanges that are beginning to get more volume, please fucking invest in the security of your platform! Call the MtGox people and have them help you, if you need to. Fuck.
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Back to THIRTY!!!
Please, no. |
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dollar to dollar transactions  low cost. But, the dollar economy isn't isolated, and as a practical matter most everyone will have to pay service fees to use dollar FTFY And saying that people will "probably" or "maybe" pay more fees != will pay more. I feel that you're stating one position (bitcoins have high fees) and then providing arguments for a totally different position (bitcoin services cost too much) You might have something to discuss on the latter, but you're not doin' a good job. You're right. I'm suggesting that the fees to use bitcoin are more because you have to pay the service fees for traditional currency services plus service fees demanded by bitcoin exchanges. |
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Really, guys, what's the point of a revolutionary new currency if nothing really changes? We'll just get a different cartel of geek bankers? I was hoping for better.
You still don't get it. Transaction fees != fees for using services (btc mixing, exchange, stock ex etc..) That's true. But good luck getting around fees for using services to use bitcoin. It's not that easy. For most people, they're going to transfer money from their bank to a service then to a bitcoin exchange. Then they've got to buy bitcoins. If they want traditional back, then they've got to do the same thing the other way. And the service fees to use bitcoin in this way are probably higher than the transaction fees in the traditional system. Bitcoin to bitcoin transactions are low cost. But, the bitcoin economy isn't isolated, and as a practical matter most everyone will have to pay service fees to use bitcoin, and in so doing will probably pay more to use bitcoin than if they had used a traditional currency. |
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So what, I've been branding forest animals with QR codes for ages. That's how I save my passwords and private keys.
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Fees for making transactions in Bitcoin are extremely low.
That's true, but the fees to get into and out of bitcoin aren't insignificant and, I think, sort of work against the claim that bitcoin's transaction fees are low. I think when people laud bitcoin's transaction fees they sometimes make use of the ambiguity between the transaction fees of a bitcoin to bitcoin transaction versus traditional currency to bitcoin and bitcoin to traditional currency. For example, I see people write, or say in interviews, something like this: "Bitcoin is the cheapest way to send somebody money" Whether that's true depends on what 'money' is understood to mean. If 'money' just refers to bitcoins, then, yeah, that's probably true. But if what's meant is that it's the cheapest way to send somebody, say, USD, then no, it's very unlikely to be true considering the fees to transfer money to an exchange, then buy the bitcoins on the exchange for a fee, then send the bitcoins, then have the other person convert back to traditional currency. I haven't done the math, but I'm willing to bet that for most transactions, that whole process is a lot more expensive, and probably not that much quicker, than sending somebody money through a bank. |
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Not that I really want bitcoin to be that explosive right now, but if you're right than all this buying I've been doing over the past few weeks, and intend to continue doing, will certainly have been worth it. |
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Will we see a dip this weekend?
My guess is a dip down to $5.70, and back to > $6.00 on monday.
I wouldn't count on it this a good time for miners to sell off coins, not a good time to try and back back lower. I'm going to get $500 or $600 ready for a dip. I'll probably put bids in a ~$5.50, just in case, and work my way up as that looks less and less likely. I don't mind chasing the price a bit, if I have to. |
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btccharts works in Windows7 but not MacOSX for Chrome.
I'm on a mac and using Chrome and btccharts seems to be working fine for me. |
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It's starting to feel like spring 2011 around here again.
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when an interviewer asks you what is backing Bitcoin say "it is backed by hundreds of thousands of ppl who have made a conscious decision to not let their govt's devalue their money every time a bank demands a bailout".
when someone like David Birch says that fiat money is backed by the govt's power to tax don't just let that go w/o a response. say "oh that's just great...you mean our gov't can not only devalue our money by printing it for their own purposes but also back that same money by taking even more of it away from us via taxes?".
Hundreds of thousands? Come on 'doc. If that were true, we would be seeing entirely different price levels. Well, it is a galactic currency. |
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Hey, anyone know where I can buy non-spoiling firewood? I want to diversify.
Just keep it in your basement. As long as it stays dry and insect free it will be fine for decades. There's only so much wood, so I bet a decade from now I'll make a killing off my firewood position. Even better, plant some trees. Then your wood holdings will grow. Now you're just being reestarded. Thanks for the compliment: http://www.urbandictionary.com/define.php?term=ReestardHaha, nice. |
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Hey, anyone know where I can buy non-spoiling firewood? I want to diversify.
Just keep it in your basement. As long as it stays dry and insect free it will be fine for decades. There's only so much wood, so I bet a decade from now I'll make a killing off my firewood position. Even better, plant some trees. Then your wood holdings will grow. Now you're just being reestarded. |
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Hey, anyone know where I can buy non-spoiling firewood? I want to diversify.
Just keep it in your basement. As long as it stays dry and insect free it will be fine for decades. There's only so much wood, so I bet a decade from now I'll make a killing off my firewood position. |
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