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It has become a lot more difficult to get valuable information out of this forum.
Judicious use of the Ignore feature, both for posters and for entire sections of the forum helps, but new users aren't going to start out knowing where to begin.
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"Bitcoin: Be your own bank"
Not just a marketing catchphrase - sound advice for avoiding losses.
The right answer is to not create services which hold BTC on behalf of users. It's not a viable long term business model.
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I am still trying to wrap my head around how we get cash $ into and out of a decentralized exchange. If someone can help me there I would really appreciate it.
It's a difficult problem, which I have not yet seen anyone address properly. |
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Sorry for the OT but why the online machine need more than 8GB of RAM?
The stable version of Armory loads the entire blockchain into RAM. The testing version will fix that. |
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and then...
Either some early adopter coins come out of cold storage and appear on the exchanges, or else we enter a phase where the only coins available for purchase every day come from the newly-mined coins that miners choose to sell. |
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After this I'm pretty sure the correct answer is use local wallets or be prepared to lose coins if you weren't prepared to lose them before.
Yes. |
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At what point do the gox fiat holders freak out at the diminishing bitcoin orderbook and just panic buy to get out? Time to put some gas on this fire.
Bitstamp is even worse in terms of BTC available for purchase. If the increasing prices don't lure some more coins onto the orderbook soon it's going to get very interesting. |
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The only web wallet that's worth using is coin base.
Search the forums and Reddit. Besides the vulnerabilities inherent to all web wallets, Coinbase additionally has lovely quirks like randomly encountering difficulties broadcasting transactions into the network. |
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startups in garages with great ideas are the things established players fear the most.
A garage is a fine place to start a business. You can't stay there forever, though. If you are successful and grow at some point you need to bring in additional expertise and resources to help carry the load and take it to the next level. |
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Even China will stop buying at some point. Not today, but that day is coming. I guess the next question will be, before or after India starts buying? |
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I am an academic myself and I think telling people to sell their bitcoins definitely crosses a line when it comes to intellectual discourse. I wonder if Cornell professors are accountable for lapses in ethical academic behaviour? |
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There's no good reason to assume that a Bitcoin economy would have deposit accounts at all (especially since everybody who tries to operate one just steals the coins or gets hacked), or as much debt as the current system.
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Any of them dates from when the price was < $10? |
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Gox made it back up to coinbase level now.
Rather Coinbase came back down to Mt Gox. They were over $281 at one point. |
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In short, deflating currency ("represent your money in terms of Satoshis rather than Bitcoins") would be hindrance to a growing economy. There will be no incentive for producers to expand production (or even keep it at the same level) since there is a time lag between production (including all steps up to an end-product) and actual disposal of goods through stores - you would buy high and sell low  |
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1 Neliso = $0.77 1 Covert = $8.02 1 Calore = $13.27 1 Worstall = $17.26 1 Korda = $34.00 1 Denninger = $89.69 1 Moore = $115.09 1 Sirer = $214.13 1 Weisenthal = $264.61 Bitcoin is currently trading at 999 Neilsos, 96 Coverts, 58 Calores, 45 Worstalls, 23 Kordas, 8.6 Denningers, 6.7 Moores, 3.6 Sirers, and 2.9 Weisenthals. |
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Ya, it's looking more and more likely to me that Karpeles is simply out of his league given the cronic mis-steps as Mt. Gox tanks. The business is larger than one person can manage alone, and for some reason he appears unable or unwilling to get help. |
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yes, but not in, unless you trust the Russian mafia with a suit case of cash... they have been pretty solid so far but most people dont really want to do that... they would rather trust some asshat in japan
The interface between Bitcoin and fiat is still embarrassingly fragile. It's all basement startups for the most part. |
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