I'll hold further comment until I hear more details of the attack, and the amount of money lost, but dammit, when will it be understood that nothing less than enterprise grade security is required to hold vast sums of value, when said value is non refundable. |
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If anyone else thinks that if they used in bitcoin as payment method in online merchants, no you are not anonymous since you have to make an account to that merchant site and all your bitcoin transaction are recorded to protect client's terms and for future references.
This is a strong disincentive for using bitcoin, because it's a pain to obtain if you don't get paid in btc. Also, consumers face more risk with bitcoin transactions because the transactions are not subject to chargeback. As much as I hate the concept of chargeback, having been an online merchant, I understand and condone its use. There are a great many scams out there nowadays. |
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Unfortunately, although power is a huge part of mining, despite free electricity you may lose out due to the always rising difficulty. I'd wait until after the halving before I made any substantial investment in mining technology.
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Real question, when does the day start, utc, as far as the 24 hour recording period for the 20 post limit goes?
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Wow the DAO is at $65m now. It really could hit $100m.
I think the interest will slow however as the price begins to hike. I think the interest in this whole concept is genuine, but like bitcoin, has been hyped to the point of imminent explosion. The price is heavily manipulated, and most people investing in the asset don't understand the technology. But the manipulated price is more concerning to me. You either need a lot of shares or a lot of money to influence a market. Either playing with the price is equally concerning. |
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As with most zero sum games, all the big players interest tend to align when its all said and done. There is a similar stratification (sometimes much worse) in most momentary systems. |
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I'm happy that they themselves are actually accepting bitcoin (should drive adoption rates in the demographic that uses Steam products heavily), but the ability to purchase Steam content with bitcoin has been around for a while now in the form of various services and stored value cards that can be purchased with bitcoin.
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If I had invested my savings in Bitcoin would it be more likely to be broke?  Yes. I love bitcoin, but it's truly an investment, since the value is only pegged to user confidence, and as We have seen, that confidence is strapped to a roller coaster. Therefore, when buying bitcoin, treat it like any other investment and only risk what you can afford to lose. Bitcoin, in some form, May be the future of money. But we are very much still in the present. |
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They didn't have to give it back, to be fair, so I appreciate this gesture. With that being said, I can think of a million other organizations that could have used that value for a much better cause. But, at least it will do some good, hopefully.
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No I'm not doing this because I do not even know if the halving will let us make profit, I just look at the price I mostly trade and that is already profitable.
I honestly do not wait because of this on a price increase.
Same. We don't know what the halving will bring, if you've been on the train this long, you might as well stick around for the next stop. It's been along time coming.  |
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Eth is a regulatable form of bitcoin in my opnion. It has its benefits, but ultimately, I feel as thought eth is the banks giving us a bank approved version of what we already had.
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Although I favor Sanders, I would not expect him at this critical hour to be concerned with an emerging financial technology that less than 1 percent of Americans use on a daily basis. He should be focused on the issues that will get him into office at the moment (foreign policy, plan for debt, etc). |
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Send them a bitcoin tip. While they scramble to figure out how to spend it, they will learn more about its usefulness. I wouldn't suggest wallet clients to the uninitiated, it's too easy to get in trouble with the fees. I suggest coinbase as a go to because they have enterprise grade security, and insurance. In my opnion, that something even that banks don't have.
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I think the first question is not serious, even in the "anonymity" of this forum no one would be so dumb to say "hey, I own 100+ BTC, kidnapp/harass/etc. me". About the actual question, you do not really need to "cash out", you can buy a few goods at different stores that accept Bitcoin and then sell them. With that much, and if every BTC was worth 2000 as you hypothesize, you can even start your own store. It can still rise flags, but not as much as selling BTC directly.
If you have the time to spend it in smaller bulks, you are safer.
Amen. This is why I seriously question those that would come forward as Satoshi. But he has a point, if bitcoin goes high enough for one to want to "cash out", the technology will be broad enough so you won't have to. It's money; a better price would hopefully mean widespread adoption and more places to spend said money. Live on it  |
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I'm a woman and I use bitcoins! But at first I was the same like u say. My boyfriend began to tell me about it maybe a year ago and I was very skeptical till he could withdraw some dollars that he made. After I saw real money - I began to believe! So show a woman money that u make from bitcoins and she is involved!
This. Bitcoin becomes real when it's pegged to your local government currency. Since I don't know of any businesses that write out their quarterlies in BTC, BTC is only relevant to people that get paid in bitcoin, or have previously purchased bitcoin and are looking to spend it. If you want women to use more bitcoin, give them some to spend, or pay them in bitcoin. Instant solve  |
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My last reply kept the quotes but not additions  Curious, but I will restate: I would buy all that I could and wait for the great rise to make my profit
The rise of the bitcoin will happen after it falls to $1 and that is the best price if bitcoin will reach that price. Every body will do panic-buying I don't know if there would be still plenty of bitcoins if it reaches that range. The chance is really small that the value can reach that value and that is you already can see now that it is becoming more worth so that is perfect for the currency. And many people also think that they can have some profit this year and that is nice but we are not for sure of course. If the value ever goes this low, it may indicate a fundamental loss of confidence in the technology, or the discovery of a fatal flaw in the protocol. That is, if it goes this low it may be because it went sour, and no one will want to touch it for a while. |
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That's another thing. These things are quasi legal in a great deal of states, and, living in NC, my closest options are a few in Durham, NC, or taking a trip to Georgia (we frequent there for family, it tends to work out when I truly need one). The point is, unless you live in an amazing area, even having access to a bitcoin atm is a rare luxury. Instead of a dedicated device, maybe this is functionality that should be included at existing atm terminals.
And the fees Diego, the fees.
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Notice that there is absolutely no investment in the traditional financial environment that offers anywhere near this rate of return. Then observe the amount of risk associated with investments that even offer a fraction of this much return (buying penny stocks, buying debt). See the trend? Something with this high a rate of return isn't an investment, it's more of a gamble due to the high risk of ruin.
Risk eventually equals loss. If you are going to gamble, at least sit down at a table and enjoy the experience.
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We also forget that all banks are represented by sovereign nations that have militaries, or at the very least access to a regulatory body that can sanction or force participants to pay it. Bitcoins non refundable nature doesn't bode well in this current consumer climate, consumers AND businesses need a mechanism to charge back in the event a product or service fails to meet expectations. Bitcoin just doesn't dovetail that well with the current model, and I think it more likely bitcoin will disappear in its current form before the banks will.
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Get a job, buy some bitcoin. This is the most efficient way to start collecting coins, but if you are short on effort but long on time, you can always faucet or Sig campaign. There is a reason why we pontificate meaninglessly over trivial questions such as these on the forum Do not invest in mining. Mining essentially collects you bitcoins, right? Better it seems to earn them with your mind, nothing to breakdown or disconnect. Well, if your brain breaks down or disconnects, maybe you have more pressing concerns than bitcoin |
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