Hey guys,
Serious question here. Bitcoin has more awareness now than ever, but why aren't people like bill gates and warren buffet just buying all of the coins?
Do you ever wonder that? Like you would think they would be buying up all the coins, and the market cap would be tens of billions right now. Maybe they are going to war against Bitcoin?
A 51% attack controlled by opposition of Bitcoin would be fairly easy with the amount of resources these guys have.
Whats your opinion?
Nothing is stopping them, it's a free market. |
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Bitcoin's liquidity is a strong factor in its adoption and price. This is a major hit for all but the long term bulls.
This is how the government(s) will attempt to destroy Bitcoin. Too many people are worried about the encryption being broken, 51% attack, buying up all the Bitcoins, they don't need to do all that crap. They just lean on Bitcoin with regulation until it topples on its own. It's the easiest and least intrusive method. The only good thing is it's avoidable if there are enough end users. |
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As Dwolla gears up for a new stage of growth, we recognize that we can no longer sustain this merchant base (.1 percent of Dwolla merchants) and its unique needs, and that attempting to do so jeopardizes both of our communities' starkly different, but similarly ambitious, vision for improving payments. Basically they are saying Bitcoin competes with their business model (because who would need Dwolla if Bitcoin takes off?) and thus they wont' support it. I'm not surprised. That's not how I read it. I think they're saying Bitcoin is just too big of a pain in the ass with regards to AML/BSA and is such a small part of their business, is not worth getting shut down over. |
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Thank you for helping those in need, I hope this question doesn't rub you the wrong way, it's a standard disclosure for non-profits. What percentage of your donations go towards administrative costs?
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Say the dollar would really crash, say this year. What would it do to Bitcoin ? Im no economist, but id say it would either skyrocket or go valueless.
Anyone got some tought on that ?
If the dollar would crash this year you'd be better off with some assault rifles, a fresh water supply, and some off-grid shelter. They'll be nothing orderly about a systemic crash. People hoping for it are fools. |
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TF, what are you going to do about the forum downtime? Do you want to push everyone back 5 days?
I would just pro rata the payments for this month. |
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Some Silk Road users sold perfectly legal items, like art and books. I wonder if any of the legitimate users will be asking the FBI for their coins back?
Why go through all the trouble if they're just art or books? |
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It won't.
This. Stock market up almost 1% today. It's going to take a much bigger catalyst than this or the debt ceiling or something else trivial. |
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What are you going to do, wait outside MtGox HQ all day until Karpeles comes out?
This is what I'm wondering, what sort of qualifications do you have? If you were some sort of investigative journalist I could see this possibly having some use but right now it just sounds like you're a random guy trying to either get a free vacation or play vigilante. |
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I tried to withdraw a medium-sized chunk of BTC from Gox yesterday at 9:00 UK time.
After 5 hours of being given the "Invalid address lie" it finally let went through at 14:00.
However the BTC didn't arrive until midnight which of course meant I couldn't do much with it until this morning.
So really it was 24 hours. Nice going Gox.
So far my bargepole has to be long enough to keep away from BTC-e and Gox.
About the only exchange of any use and which I trust right now is MCXnow.
24-hours is lightspeed for MtGox. |
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i put it down to the Americans sticking there god damn grubby hands where they dont belong.... as a result any American should have to pay a price to use there service.... your not the only country struggling its just you think everyone else should help you clear you debts... nobody cares if America goes into debt we all just need to avoid them like we do with north Korea wait long enough im sure theyll blow themselves up...
im not racist i just really dont like ANYTHING about America..... nope nothing
You don't sound like a racist, just not very intelligent. The largest indebted first-world nation in the world is an Asian nation (Japan). Europe has far more systemic issues that the US. Europe is full with countries that are serial defaulters, the US has never defaulted on their obligations. |
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I also brought up the scenario of operating an eWallet which involve only a single virtual currency and no real currency:
BTC: Person A -----> Wallet Provider -----> Person B
USD: None That's the question I had, since the guidance states: The term "money transmission services" means "the acceptance of currency, funds, or other value that substitutes for currency from one person and the transmission of currency, funds, or other value that substitutes for currency to another location or person by any means. It doesn't matter if no "real" currency is handled. The more recently released comments from FinCEN say it a bit more clearly: https://bitcointalk.org/index.php?topic=181708.0Those who are intermediaries in the transfer of virtual currencies from one person to
another person, or to another location, are money transmitters that must register with FinCEN as
MSBs unless an exception applies. Some virtual currency exchangers have already registered
with FinCEN as MSBs, though they have not necessarily identified themselves as money
transmitters. Is it the end of unregistered exchanges? This makes it more of a pain in the rear to operate any kind of Bitcoin/crypto-currency (or other virtual currency) exchange if you're based in the U.S., at least in a complying above ground way. Still, I think this quote deserves emphasis: The guidance explains how FinCEN’s “money transmitter” definition applies to certain exchangers and system administrators of virtual currencies depending on the facts and circumstances of that activity. Those who use virtual currencies exclusively for common personal transactions like receiving payments for services or buying goods online are not affected by this guidance.
Since Bernanke doesn't consider gold to be money I imagine buying gold coins online with bitcoins is not affected by the FinCEN guidance.  The first bolded section is interesting. An intermediary simply means one that acts as a link between two people. Taken at face value, wouldn't anyone who operates a Bitcoin node be considered an intermediary? |
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I'm not all that surprised, when it comes to technology, especially payment solutions, the US has always been antiquated and lagged Europe and Asia.
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No end to QE? Here's my shocked face  |
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Selling a lot of Singles and because John K escrow is impossible to contact due to how busy he is, I am considering paypal.
Is this a bad idea? Even if it is from verified users?
Yes, it's a very bad idea even if they are verified. |
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Why would central banks adopt bitcoin?
Why not just come up with alt coin and start using it with governments, big banks, etc.? Or multiple alt coins. Exactly, a central bank isn't going to adopt a currency where they've already lost control of x-% or y-million coins. They'll just make their own from the beginning and make it more attractive to the average Joe. They'll install "Fed-coin" ATMs in the malls, Fed-coin POS systems in the retailers, etc. This is why Bitcoin adoption needs to happen at a rapid pace. Being open source, it's easy for someone to come in with a mousetrap that while may not be better, is more convenient for the masses. |
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History never repeats itself but it rhymes. As far as I know a virtual currency like bitcoin has never been used. But you "could" be right of course. But no one knows for sure.
And we'd still be living in caves and hunting with stone spears if everyone had a similar outlook. |
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Good for him  . A car is a car, basically free if he won the btc It's not exactly free if you're betting huge sums of money. He was just lucky. This time. |
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How can they stop printing at this point without crashing the markets?
They can't. Cheap money has turned from stimulus to entitlement. |
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