BTW, it seems that tor is having some sort of "outage" and may be under attack because a great many sites are down. Some onion posters are claiming that tor sites are "updating" but that's crazy - how could some 80% of the sites that I normally visit all be updating at the same time? Plus very few sites work when random surfing.
https://bitcointalk.org/index.php?topic=267624.0What's your opinion of tor vs vpn? And of vpn with the terminal node in the US, for a US user, versus choosing one overseas?
The greatest security (along with the greatest performance cost) comes from using both. Sign up for a VPN that uses a standard OpenVPN client (like AirVPN), and configure your OpenVPN software to connect via Tor. That way the VPN provider can't know where you're accessing from, and you can access web sites that block known Tor exit nodes. |
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Some people are willing to risk their entirely livelyhood on this thing and I think I'm a daredevil because I own more BTC than XIV. Many people underestimate what Bitcoin represents - I'm not exaggerating in my signature. |
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If worst comes to worst they can leave the country, and their bad debts will just be another drop in the ocean of the malpurposed and unrepayable government-backed student loan debts.
A smart person employing this strategy should make sure he's bilingual before graduating. |
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Assuming the OP made his purchases relatively soon after posting here, he's done pretty well already. With no payments due for a few years at least, it makes leveraged BTC purchases using student loans look like a good deal.
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Why not do a Google Plus hangout?
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Need to stop over-politicising Bitcoin, it does not provide an answer to government control.
Fortunately merely saying that doesn't make it true. |
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I want to point out that the OP's question was whether Bitcoin could or should replace FIAT.
The answer is a resounding no. Bitcoin is a substitute or alternative currency. It is a global currency and an online currency, very much unlike any of the current forms of FIAT. This is where it's primary strengths lie. As the economies of the globe become significantly intertwined it makes sense to share a simple and easy way to make transactions and spend between countries. No other currency allows for this in a simplistic manner.
...
That being said, Bitcoin isn't even large enough to support replacing a FIAT. If it has a $1billion market cap, then 10 million people could each hold $100. That is not enough to support a population in standard trade. The market cap would have to exceed $500b to $1 trillion to service a large portion of the global population.
The "market cap" of Bitcoin is not currently greater than $1 trillion. Therefore it will never be greater than $1 trillion. Therefore Bitcoin will always be an alternative currency. Q.E.D.  |
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It drains blood (power) from the centralized government(s) (who have ceased to act in the interest of their people). Governments act today, as they always have throughout history, in the best interests of their people. Anyone who thinks something has changed recently has just been excessively gullible when it comes to the question of exactly makes up "their people". |
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There is no selling pressure atm.
All the major payment processors have stopped using Mt Gox, so the selling pressure their operations create has also moved. |
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just someone wants coin really bad hitting up all the ask.
but why? 1) Inside information about something that will cause greater demand for bitcoins in the near future. 2) Someone desperately wants to get their funds out of Mt Gox and are willing to incur significant slippages to do so via buying bitcoins and withdrawing them to another exchange. 3) Some random new trader with a significant amount of dollars to spend wants some bitcoins. 4) Large account holders have given up on trying to withdraw USD, so Mt Gox is speculating with their deposits. |
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As to whether or not I would trust Gox with my identity - I don't even trust them with my BTC.
Quoting truth.  ...with your bitcoins. |
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But you should also know that this might be dangerous for your privacy.
It you make your "public key + the secret", anywhere, anyone can find out that all the further addresses determined from it belong to you. This isn't a problem because you can create an arbitrary number of extended public keys, up to and including a new one for every transaction. |
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1. Merchant provides a BIP32 master public key to BOP Does this mean any extended public key? |
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The big take-away, is (for the umteenth time) if you give someone the ability to take your money, there is every possibility that they will do so. In Bitcoin-land it is a near certainty. This doesn't help people who are caught up in this mess right now, but tvbcof is exactly right. Third parties who hold bitcoins on behalf of their users will eventually lose or steal those users' funds, with a certainty that approaches 100% on a sufficiently long time scale. Trusting third parties to store money is an unnecessary and dangerous relic of legacy currencies which should be abandoned now that we have superior alternatives. Apparently fiascoes like this will keep happening over and over again until everybody learns this lesson. |
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For mobile it would be wonderful if the "Show unread posts since last visit. / Show new replies to your posts. / Watchlist" links were also present on the bottom of the page.
It really sucks to have to scroll back up to the top to access them.
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