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When i originally posted the article, it didn't ask for a subscription to FT to read it, this is new.
Maybe i should remove the original link?
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Can't read the article! Need to subscribe.. Anyone copy / paste ? (If that's allowed..)
I just tried to copy & paste it here but seems as though theyre asking me to pay to read it as well now lol, what a joke. Guess you can get a jist of the article here: https://www.cryptocoinsnews.com/financial-times-writer-calls-bitcoin-pyramid-scheme/ but would have really been better to read the article itself to really soak in the BS that was seeping from it. |
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every bank note is an IOU
and thus bank balances are ONLY a list of liabilities..
banks do not list ASSETS.. FIAT is not an asset, but credit, no longer backed by the promise of gold..
bitcoin is an ASSET. it needs no backing.. just like gold is an asset and needs no backing..
its fiat that needs backing..
.. really think the FT are hiring people that dont have a clue about basic economics.. which is strange for a financial media outlet.
 What just happened to op. Im not in agreement with the article, in fact the exact opposite. |
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I spend bitcoin daily on toping up my mobile balance. Apart from that i have started to use bitcoin as alternative to paypal to pay my hosting and domain cost these days.
That sounds cool, where can you top up your mobile with bitcoin (Im in the UK, not sure if that will make a difference) Sooo, this pizza i ordered last night, my first bitcoin purchase, i must say, it was way more convinient than expected, it was so fast (the actual entire payment process) and it felt all the more better because of how lazy i am, i absolutely hate filling out forms with debit/credit card info lol then gotta go to my banks secure payment page, ugh its all long lol, all i did last night was point my phones camera at my laptop screen and it said your payments been received and your pizza is on its way lol, Bare in mind this is at like 1:20 AM It was such a shame that the pizza was so bad, it was oily,kind of tasteless and the cheese & toppings where all falling apart, Their bbq wings were nice though, AND they sent me the wrong drink! lol, They sent coke, i hate coke, but it was too late for me to be bothered to complain Anyways, after that little experiment of mine, and watching videos of people spend bitcoins in person in shops, In most videos it looks like quite an awkward transaction at the moment for physical in store purchases, Online however, i do have to say Bitcoin is easily my preferred payment method, just out of how easy it was. |
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I decided to put my money where my mouth is, almost literally lol, i just ordered a pizza and paid using bitcoin.
I do feel an itch to replace the bitcoin i just spent though lol
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Im considering doing just this, Im 60/40 (for) on the idea.
recently ive been thinking of trying to take on bitcoin full time somehow.
Its really caught my interest recently and think where going to see a huge increase in not only already established businesses that support bitcoin but also new bitcoin based businesses in coming years.
I do also believe spending our bitcoins in the few places that do already support the btc will aid this.
It's a big dilemma that if you spend your BTC and support the system to grow, you don't support yourself because the BTC you spend today can worth 10 or 100 times more in the future. But it will raise only if you spend your BTC now not only gather it and store it in a cold wallet somewhere. It's like the catch-22  I think Save 60% and Spend 40% of all incoming bitcoin is a good way to Save for future growth as well as spend and support bitcoin (and potentially save some money in the short term by spending with bitcoin rather than fiat) |
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http://www.ft.com/cms/s/0/1877c388-8797-11e5-90de-f44762bf9896.html#axzz3r7J89upVBitcoin also lacks another feature of currencies: the balance sheet of a central bank standing behind it. They might be intangible, but a balance sheet has two sides to it, lists of assets and liabilities.
The bitcoin ledger, by comparison, is just a glorified list of liabilities, keeping track of where the bitcoins are located.
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for the few places that do accept bitcoin, do you currently spend the coins you hold at any of them?I know places like www.takeaway.com accept bitcoin and i even heard CEX.co.uk accept bitcoin in stores now too, but does anyone spend the bitcoins they have or do most just onto hold them? (Or gamble them lol) I wonder if there will ever be any retailers that only accept bitcoin.
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Im considering doing just this, Im 60/40 (for) on the idea.
recently ive been thinking of trying to take on bitcoin full time somehow.
Its really caught my interest recently and think where going to see a huge increase in not only already established businesses that support bitcoin but also new bitcoin based businesses in coming years.
I do also believe spending our bitcoins in the few places that do already support the btc will aid this.
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Price doesn't matter. Imagine 1 Bitcoin reached @ 1mil usd each, and you sold all of your btcs for usd.
What do you think you'll be? You'll be damn poor. USD won't worth anything, but bitcoin will.
Yeah but when we say worth 10k+ etc where talking value (which is also why i said if it did reach 10k+ i would " Spend" my bitcoin not "Sell" Them. Also i do personally think were a very long way away from doing away with fiat completely, in fact i do think if we do see that happen, it will be something our children & childrens children will witness & benifit from, or maybe in old age we will see, but for now i dont think the Dollar or the Pound are going anywhere lol However i do believe one way or another, Fiat will eventually become a thing of the past. |
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It depends on the future bitcoin value. For now bubbles seem to be quite sparse and nothing compared to that huge spike of November 2013.
If bitcoin value ever reach $1000 again I will probably sell huge part of my coins.
Hypothetically speaking what would you do with your bitcoin if the price went to 10k+ each? |
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A post was made on the Linux Foundation site using a Satoshi Nakamoto account. His original message here. The author is close to declaring bitcoin a "failed project". There was no signature key to verify the authors identity. I have been following the recent block size debates through the mailing list. I had hoped the debate would resolve and that a fork proposal would achieve widespread consensus. However with the formal release of Bitcoin XT 0.11A, this looks unlikely to happen, and so I am forced to share my concerns about this very dangerous fork. The developers of this pretender-Bitcoin claim to be following my original vision, but nothing could be further from the truth. When I designed Bitcoin, I designed it in such a way as to make future modifications to the consensus rules difficult without near unanimous agreement. Bitcoin was designed to be protected from the influence of charismatic leaders, even if their name is Gavin Andresen, Barack Obama, or Satoshi Nakamoto. Nearly everyone has to agree on a change, and they have to do it without being forced or pressured into it. By doing a fork in this way, these developers are violating the "original vision" they claim to honour. They use my old writings to make claims about what Bitcoin was supposed to be. However I acknowledge that a lot has changed since that time, and new knowledge has been gained that contradicts some of my early opinions. For example I didn't anticipate pooled mining and its effects on the security of the network. Making Bitcoin a competitive monetary system while also preserving its security properties is not a trivial problem, and we should take more time to come up with a robust solution. I suspect we need a better incentive for users to run nodes instead of relying solely on altruism. If two developers can fork Bitcoin and succeed in redefining what "Bitcoin" is, in the face of widespread technical criticism and through the use of populist tactics, then I will have no choice but to declare Bitcoin a failed project. Bitcoin was meant to be both technically and socially robust. This present situation has been very disappointing to watch unfold.
Satoshi Nakamoto I don t actually think at all that Satoshi himself wrote this but interesting none the less. (oligopolies if its already been quoted a million & 1) |
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yep holding all coin since 2013 mined.....currently mining LTC will eventually convert all LTC to BTC at some time to be determined if all converted now would be over 100 BTC..end of life on KNC Titans mining LTC to convert to BTC maybe another 10 BTC or so ..till end of life I'd guess so I've held thru 1100 usd coin and down to what was it 170 per btc.... so we will see i'm either 'brilliant' or 'clueless' time will tell Likely NO in between. wow you are so confident . wish bitcoin will not make us dissapointed in the future  . i know right lol but the anticipation & risk kind of makes it all exciting, |
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My plan if bitcoin reach 10k , I sell half of bitcoin I have and buy my dream car. BMW M4 I would be tempted to get an M4 but would battle between that or the M5 |
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Im pretty sure Second Life Lindens and Cryptopias PED's are still in full function.
Not for much longer. Voxelus won't be the only VR app. Fungibility is important. And there is an economy-of-scale with one ecosystem in terms of building all the performance, scaling, anonymity and other features needed in a real-time, virtual currency. Lindens aren't going anywhere anytime soon. The only people left playing Second Life are those that treat the game as their actual life. I mean as a shrinking (relatively speaking) market towards irrelevance. Expansion of virtual currency markets will radically accelerate with network effects due to an eco-system and more degrees-of-freedom with fungibility. In other words, Lindens are beyond their half-life peak. Voxels will probably have a half-life of about 6 to 18 months. Voxelus should be trying to make their technologies into APIs and create an ecosystem. And stay away from making a virtual currency since that isn't their area of focused expertise. Some of us have been working on crypto-currency for 3 years. They could partner with a virtual currency or better yet interopt with all virtual currencies and build an exchange into an APIs for developers.Very good idea |
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I would say real estate is mostly always a good investment, (especially near tube stations or Universities) but then again im not a homeowner myself yet, Bitcoins, imo i would say yeah invest in Bitcoin too because if it takes off, its going to reaaaally take off, if it doesn't it doesn't but you dont need to invest very large amounts unless your pockets allow for this (never invest more than you can afford to loose as they say)
As for the UK, property could give you decent return in relatively short time. Aim for cheaper houses (< GBP 100k, affordable for first time buyers), preferably repossessed by bank, located within less than 1 hour drive from the town centre of any major city. Don't do any major work on it, just refresh the look, give it a proper cleaning and re-paint.
If you're lucky, you can pocket out 30-50% profit in few months. If you struggle to sell, you can always try to rent it out.
As for Bitcoin. Definitely too risky to invest large % of your wealth in it. But as someone said on this forum: you have to be clinically retarded not to own some, just in case.
When you say less than 100k i dont suppose you mean anywhere in or around London? if you do, if you don't mind pointing me in the right direction =) would be appreciated lol also, how would one go about buying repo'd properties? auctions? |
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i kind of fail to see the point of them if im honest, seems as though they can be traded or spent on the voxelus marketplace, but i dont really understand the " Need" for them http://marketplace.voxelus.com/ (baring in mind it says on the site the marketplace is in beta and you cannot actually make a purchase with any voxels yet) but i mean why? why voxels? lol hey why not Bitcoin, or Litecoin? or even plain old fashioned fiat (lol)? I understand the VR market is most likely going to be BIG business, and im not discrediting whatever work Voxelus is doing in regards to VR, i just dont see why one would need voxels, thought someone here would have been able to help me see what i might be missing with this but looks like a good few of you have similar thoughts. |
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I dont really see Litecoin as bitcoin competition, i think they're too similar (from what little i have learned over the past few weeks)
but i dont see no reason why the two cannot healthily coincide together.
In fact, I've been contemplating making a purchase of some litecoin =)
The Silver to Bitcoins Gold?
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As i see, $10000 Bitcoins would spoil you all. No one off you would hang on this forum anymore. Some would open truck business, some would get new house, some would get new girlfriends. SmoothCurves would even buy a car with steering wheel on wrong side. I hope Bitcoin never gets to $10000 so we all stay here and complain about the price.  LOL!  Im sure if bitcoin got to 10k everyone would still check up on bitcointalk to show off photos their new Lamborghini's, Houses & new girlfriends |
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