If you don't share the rate of wallet growth for the 57 days preceding 16 August, there's no way for us to know if that 500k in about 57 days is "not bad" or "not good".

The real problem is that wallet growth doesn't indicate greater adoption or long term use. It only indicates greater introductions, it doesn't mean that people stay with it or fully adopt it.

Coinbase, Circle, and Xapo are also good wallet options - perfect for a business.

Will you advertise/sell your shirts on this Forum? You could post adds in the Goods section...

Yeah, but it doesn't always work. I'll select threads to be on my watchlist and then when I go to "Watchlist" they aren't listed...unless I go to "edit list".

Seconded on going to the Services section. You should also try the Bitcoin Reddit forum. As a last resort you can try freelance.com and ask anyone that hires you to pay you in bitcoin.

I have a typing job that pays in bitcoin, it pays well, but not well enough to support my living 100%...

Great question, often asked. You should do some reading around to get your answers because there's a lot of good information from others here.

The best way to earn bitcoin is by doing whatever you do for a living and asking for bitcoin as payment - seriously. Bitcoin is just another form of currency, it doesn't change what you do to earn your currency.

For a shop owner, bitcoin has much lower transaction fees, transactions are easier to conduct. The downside is the currency foreign exchange risk, if you choose to accept bitcoin but convert to your local fiat frequently.

You (or other entrepreneurs) provide the new and interesting ecommerce sales opportunities. We pay for that which is new and interesting and useful with bitcoin.

The price didn't drop, it corrected to the fair market value. It's great that Mt Gox fell, it washed out the manipulation. The problem is that the price rise to $1000 (without knowing about the manipulation) puts Bitcoin's price history in a completely different perspective. It spoke for a confidence that ultimately never existed. This is really awful news. I wish I knew about this a year ago, seriously.

This is a good point, but it doesn't make me feel better about it. IF it's a seller's market for the miners that means all we're paying for is the miner's cost and effort, not some additional value that's passed on to us. Are you saying that the miners are making the market (i.e., determining the price) of bitcoin?

This is a scary thought.

Myfe.

Thanks for sharing the link to the article.

Why aren't people discounting the major run up in the entire history of bitcoin as a manipulated fluke?!? I never hear anyone talking about it (or see threads on here either). Man, i'm seriously disappointed. There's NEVER been a real run up of bitcoin beyond $10 to $250...we're at the peak of the market now because everything beyond was the result of the Mt Gox manipulation.

WOW...I'm embarrassed to admit that I didn't know about this bubble before. This changes my outlook on the future of Bitcoin. The only significant bubble was generated by market manipulation. That's bad. That's VERY bad. It means that the market didn't truly run up the price at all. Fuck. This sucks...

They operate just like a traditional bank, they just don't offer loans. You could buy coins without the middle man through local bitcoin...and they'd have to be stored in a physical wallet.

Which bubble was this?

(As I mumble quickly: please don't be the rise to $1000. please don't be the rise to $1000. please don't be the rise to $1000)

Have you considered doubling down and bitcoin cost averaging your position? You said you're down 50%, you could lower that percentage by buying bitcoin now at the 50% discount. Here's some math to help you think it through...

Hypothetical Initial Purchase: 2 bitcoins at $500 each (since you said you're down 50% right now).

Additional Purchase Option 1): Buy 2 more bitcoins at $245, total cost of your position of 4 bitcoins is $1490 and your total cost per 'coin drops to $372.50.

Additional Purchase Option 2): Buy 4 more bitcoins at $245, total cost of your position of 6 bitcoins is $1980 and your total cost per 'coin drops to $330.

Additional Purchase Option 3): Buy 10 more bitcoins at $245, total cost of your position of 12 bitcoins is $3450 and your total cost per 'coin drops to $287.50.

The real question is - do you think bitcoin will go up in value in the future? If so, you should "double down" and drop your cost to a level that you can break even on faster.

I think everyone knows why money motivates them. It's because money is the medium our society has agreed to use to exchange for goods and services. If I need my car fixed I can give someone money exchange for that service. If I need clothes I can give someone money for those goods. If someone needs my services/skills they can hire me in exchange for money.

Money is easier to use then a barter system because I don't have to need whatever you have to give (as I would in a barter system), money becomes a standard format of currency that can be accepted by everyone at any time.

The manipulation of the money supply and debt to finance things that Governments or people can't afford is bad and we've all been a victim to it. The best thing we can do is limit the debt we use in our personal lives and then preach that Governments do the same.

Why does he need to show us proof, he's not asking for your money or donation. He's just introducing himself!



Jacee, I think you may also be new to bitcoin, so welcome! Unfortunately bitcoin isn't continuously climbing (as much as we all hope it will). The price dropped from +$1000 at the start of 2014 down to where it is now, reaching a recent low of $200. It's great that it's crept back up to the $240 level, but progress is slow. Perhaps this is good. Price stability can give businesses more confidence to take on this new currency as an accepted form of payment. But to say "there will be no other way for it but to reach its full potential" is naive. Bitcoin can fail, we've seen the price support fail, let's do all we can to spread the benefits of Bitcoin in an effort to make sure that it doesn't fail.

Kris, welcome to the Forum! Good luck with your business. There's a lot of ways to earn money here, so snoop around and get involved. Selling your goods (old stuff you don't want) and services is a great option.

"...it's about ideas, bruh!" ---- from Kanye "Douchbag" West

For some reason I felt that needed to be said. Which bank has a private blockchain hoax? You're absolutely right though, they won't get more individual accounts (i.e., accounts from regular folks like us) by implementing a private blockchain. But, that's not why they're creating/exploring blockchain technology. The technology makes it cheaper for them to process their transactions...

But, it's important that we vote with our wallets if only to bring success to the Credit Unions and local banks that are doing it honestly and properly and in ways that help our local communities.

You probably have as much insight into the future of bitcoin prices as the "veterans and experts" as you call them. The reality is that no one knows what the future holds for the price. Adoption drives all growth, period. If you want to influence the price, spend some time introducing new people to the currency and investment.

I'd love to know how big your pile is...

He goes by Mother now...



Psych.

It's amazing that people can keep their anonymity so well. It's just so hard to do these days...

What's new is the speed of growth of the inequality. He makes a great point (and obviously he's brilliantly smart). More automation in manufacturing results in fewer jobs, therefore more poor. Technology also allows those with access to it to benefit from its wealth building opportunities. Take the signature campaigns on this forum, someone without access to the internet or without a computer would have a much harder time gathering bitcoin as many of us do.

That depends on whether you want to live small or live big...which way are you looking?