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I wouldn't call this guy a "notable" press mention either.
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I don't think it matters the sites let you gamble in BTC. They will probably start getting their domains seized and stuff soon.
If the domains are seized they'll just either move to one outside US control/influence or to TOR. It is too bad too, the US is frittering away its lead in many areas. Although after the NSA scandal, perhaps that is a positive for the world if not the US |
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Article: Bottom line: Bitcoin has made a fraction of people very rich. And then there's the rest of us. So far. The economic benefits of taking the control of currency out of the hands of a few power-hungry central bankers and giving ordinary people easy means of protecting themselves from the hidden inflation tax and the threat of seizure of their assets by the power-hungry politicians has the potential to make a lot of other people rich, and safe from the predatory nature of those in power. The article neglects to mention how early we are in this process and the other benefits of bitcoin and instead wants to concentrate on envy. Regarding the volatility issue, I seriously doubt it is caused by most of these early adopters. Prices are set at the margin and the day trader, fast money crowd is much more likely to be the cause of volatility than the strong-handed, true believing early adopters. |
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Of course with a brain wallet the random number generator is not an issue. Proper randomness of the phrases is a different, and difficult issue. So, I wonder if he used a brain wallet or what. Or whether he had paper wallets or just an encrypted wallet.
Perhaps we'll find out eventually.
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Nice. Cyprus is a great place for it and probably ripe for it given the events of this spring.
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Slowly? We are growing several percent a week, most stocks have trouble getting a couple of percents a year.
I wouldn't really call it slow.
Perhaps OP meant slowly in comparison to recent trends. ;-) But I agree, compared to stocks, it is certainly not "slow". |
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It depends on the jurisdiction. If it is in the US or other location that is controlling regarding gambling, I don't think they'll last long. If they are located where gambling is legal, then they probably will last quite a long time, particularly if they attempt to block (yeah, right) people from the US etc.
The US has shot itself in the foot with regard to its nanny-state attitude regarding gambling.
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We've had our fun for 2013...
I expect greatness and new ATH's in 2014
I'm worried about companies like Amazon, JPMorgan Chase and Apple all jumping in to create their own virtual currencies. They're not decentralized global p2p currency with as many advantages of bitcoin, but these companies have strong advertising and the avergae joe won't know the difference. Do you guys think this will hurt or slow down bitcoin adoption?
The problem with those are the ones you stated, plus they aren't interchangeable easily. I doubt they'll let you spend AmazonBucks at Apple or AppleDollars at Chase etc. And that is a big deal, I think. The difference between a Starbucks gift card and a generic Visa gift card. :-) |
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...I don't care for the occupy movement either, but I think you've got to be a capitalist pig to think it's ok for multi billion dollar companies to get away with paying zero tax whilst the ordinary citizen foots the bill.
Companies do not pay taxes. People do. All taxes are passed back on to people through higher prices. Companies serve as tax collectors for the government, in order to help hide the full level of taxation from the people who don't think about it. Nothing more. Just like the "company share" of Social Security taxes (in the US) aren't paid by the company, they are paid by you through foregone wages. For transparency, withholding taxes should be eliminated and so should corporate taxes. Otherwise, people are fooled into thinking that some person is not paying taxes and they are getting something for nothing. Cut taxes so that individuals can choose what causes they want to support with their own money. It isn't charity at the point of a gun and it isn't charity if it is someone else's money. |
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Glad you posted this - you are right, it could impact bitcoin if the RNGs were compromised in some way. It is too bad that Intel etc could have been compromised and no longer provide what they claim to provide - something random. |
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I like this point of view. Bitcoin as a store of value, this makes a lot of sense.
I agree. The number of uses of the blockchain is large, and one of them is as a store of value. Given the situation with FACTA, inflation in many countries (e.g. South America, potentially lots of other places), banking privacy, instability in the banking systems in some countries (e.g. south Europe), exchange controls in many places, gold and other PM limits (e.g. India) etc, the store of value aspect is quite valuable to many people around the world. |
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http://news.cnet.com/8301-1023_3-57615080-93/paypal-president-david-marcus-bitcoin-is-good-nfc-is-bad/The leader of eBay's online payment division, paying close attention to his industry's future, thinks Bitcoin is a good idea -- even though it's not yet actually a currency. Tap-to-pay, though, is a dud. Edit: And: " I really like Bitcoin. I own bitcoins," Marcus said at the LeWeb conference here. However, he believes people don't correctly understand what bitcoins actually are today, and he's yet ready to let people link their bitcoin wallets with their PayPal accounts.
People are confused. They think because it's called cryptocurrency it's a currency. I don't think it is a currency. It's a store of value, a distributed ledger. It's a great place to put assets, especially in places like Argentina with 40 percent inflation, where $1 today is worth 60 cents in a year, and a government's currency does not hold value. It's also a good investment vehicle if you have an appetite for risk. But it won't be a currency until volatility slows down. Whenever the regulatory framework is clearer, and the volatility comes down, then we'll consider it.
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Why would you want a percentage fee? The concept is that you pay for the resources you use and this isn't some authoritarian wealth redistribution scheme masquerading as part of the system.
Whether you transfer 1 bitcoin or 50 the network resources used are essentially the same. It isn't 50 times higher in resource usage so any percentage based system is really an attempt at social engineering in disguise.
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A more viable options market for bitcoin would help smooth out the volatility. Being able to buy puts at $1100 would have allowed many to stay in and yet be protected on the downside. Of course that wouldn't come cheaply.
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He's not an idiot, but he makes the very common mistake of assuming that anything that rises very quickly is a bubble. His argument is easily countered by showing a multitude of examples of when a rapid rise is not a bubble.
Exactly. Case in point, you could register casino.com for almost nothing in 1994. Several years later you could sell it for much more. It was not a bubble. In 1995-1999 you heard the same things about the web and domain names. This is clearly another example of someone who is uninformed pontificating about an area where he has no expertise. |
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Nice interview. Not too long, and well explained
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No one knows, but with the myriad uses, more of which appear all the time, I believe as I have for a long time, that the trend is much higher. Timing is the question. Is it likely to be back at gold price by then, or exceed it? I'm hoping it won't be much less by that time...I've made some plans that kind of depend on it.
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I think a sarcasm tag for your initial post would help. And as far as your name, I presume it is a play on Ayn Rand and her family name and ancestry.  am not. I mean, looks are not everything. Off topic (but mentioned earlier) does anyone get my name? |
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What kind of mining gear do you want donated? Block eruptor blade? Or only bigger ASIC stuff now?
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