http://finance.fortune.cnn.com/2013/12/31/fortress-is-forming-a-bitcoin-fund/In September we discussed how SecondMarket had launched the first U.S.-based investment vehicle dedicated exclusively to Bitcoin, called The Bitcoin Investment Trust (beating out the Winklevii, who remain stuck in regulatory limbo). Now comes word that Fortress Investment Group (FIG) is prepping its own Bitcoin fund, which likely will be much larger than the SecondMarket offering.
Great news! Thanks for posting this bobdude! :-) Back in October the CIO of Fortress had recommended investing in bitcoin ( http://www.zerohedge.com/news/2013-10-24/head-fortress-recommends-investing-bitcoin). They manage ~ $58 billion so I think they are much larger than SecondMarket. SM is good, but if Fortress really markets it, it will be amazing for the market price. Even a 1% allocation would be a huge deal at the margin so large impact on prices. |
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Shhhh, don't tell the fascists and authoritarians. :-)
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he said it to be "fun and provocative." he's just saying this shit so people talk about it, which gives him more exposure and fame.
the best thing to do is not to give a shit about what he says; otherwise you're just playing into his hands.
So are you suggesting that Nobel laureate Paul Krugman is an internet troll? And isn't he playing into the hands of bitcoin too then? The more he talks about it, the more credibility he gives it, and the more attention it gets. I liked your initial thoughtful post, but please be aware that you are playing into the hands of Krugman and the fiat system he touts when you repeat the meme that he is a Nobel laureate. The prize he won is a bank-sponsored clone of the actual Nobel prizes and began in 1968. The "real" Nobel prizes have been issued since 1901, and did not include a category for Economics. The prize in Economics is analogous to you and I giving each other a prize "in honor of Alfred Nobel" and calling each other Nobel Laureates. It is a device intended to legitimize Economics, otherwise nicknamed "the Dismal Science." The device works in the media and popular thinking, but it is evil.  Nobel factoids here: http://en.wikipedia.org/wiki/Nobel_Prize Quite right. They are fearful because the voodoo-science of economics is about to run into a wall of math, hard sciences like computer science, engineering, and consequently reality. Bitcoin makes it harder for the Krumans of the world to ignore the reality of their policies. Some economists are right, but economics is not a science and the phrase "voodoo economics" was redundant. |
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Krugman has BEEN a joke since well before 1998. The emperor has no clothes, they just don't realize it yet - or they know it and want to fool as many people as possible for as long as possible.
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1. More certainty from the regulatory/legal process.
2. Publicizing how useful bitcoin is in avoiding authoritarian regimes capital controls.
3. Cyprus-like event asset protection.
4. Easy use for micro-payments.
5. Dark wallet/zero etc anonymity type application availability.
6. Credit card type ease of use for grandma. Ease of use is key. Swipe a card and it just works.
Not all are required, and there are probably many more, but each could be important.
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It honestly makes me sad that we have this whole generation of people growing up that find conspiracy sites and take them at face value without even using their brains to question their validity properly, but that's the Internet for you, it's power to spread as much mis-information as real information.
Der Speigel, the Guardian, NYT, WSJ etc are hardly conspiracy sites. The recent iPhone and WiFi news regarding NSA capabilities was reported there. It makes me sad when facts are ignored or dismissed. If the capability is there it is naive to think only the NSA will have it for long. |
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While it may be easy to criticize the French Gov for their tactics here, I do think the intention is noble. We all know that some salaries are HUGE. Personally, I think it's admirable that they are trying to limit that, and not allow anyone to earn an absolutely insane amount of money for being CEO.
Yes, free market, we should all be able to make limitless amounts of fiat, blah blah blah. It's not sustainable. Will be interesting to see how this play out.
When jobs leave France and more people are unemployed the "intentions" won't matter one bit to those taking a handout. And I think their intentions are anything but noble: greed, envy, and control. When the 50% majority who are making less than the average/median decide that anything about that is "huge" and vote in politicians to stop it, then we'll be really screwed. Huge depends a lot on perspective. |
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It depends on your exact application. For most 0 conf is fine
Yes, it depends on the application, but always not edge cases. :-) |
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If everyone gets all their friends to buy 1 bitcoin as a long term investment, then yes, everyone who has bought in now or any time reasonably soon will definitely be an early-adopter.
Shoot, if bitcoin even takes off in a half-way, then people coming in now will be early adopters.
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Is there a proper source of this? Wouldn't surprise me, but it hasn't been mentioned in the Guardian yet. it's not a big surprise. they've been trying to do that since the first day True. Evidence is nice too. :-) |
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People with enough money and smarts will go elsewhere. Takes an awfully stupid politician (redundant) to not understand that!
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Is there a proper source of this? Wouldn't surprise me, but it hasn't been mentioned in the Guardian yet. The original was from Der Spiegel but this was an English language source - they are working with Snowden too. Then there is this today too, NSA Can hack WiFi devices from eight miles away: http://www.engadget.com/2013/12/30/nsa-can-hack-wifi-devices-from-eight-miles-away/(yes, it is old tech, but the NSA won't have been standing still for 5 years). |
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Yes, and do what Gerard Depardieu did and just leave. Talk about stupid policy.
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OK ...So when I am checking a transaction in blockchain, if I go by the following process, is that safe ?
1. Checking if no. of confirmation > 6
2. When it is > 6, the block of the transaction is in the main chain.
This will almost always be true. BUT in March 2013 a fork lasted 24 blocks, iirc. It is unlikely to happen again - these were extremely rare circumstances - but it should be noted. |
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This "expert" did his research so thoroughly that he wrote "BitCoin". |
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Are we getting a thirteenth month this year?
Buy 12, get one free. This year only! |
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