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Hi Thomas, are you still doing transfers? If yes, please PM me address to send for transfer fee. Thanks.
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Would this affect Btc prices in fiat terms? |
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I am quite interested in purchasing 1-2 shares of R17. Please PM me offers if you are looking to sell.
i have 10 r17 shares batch 1 to sell. |
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Yeah, their website is down. It was down on January 1, 2014 but they fixed it soon. I think their web server is underpowered and just crashed.
that would just be sad... when they could use cloudflare for free |
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Does anybody know why black arrow site is down and why they aren't posting updates? Bobsag, as reseller, it would be good if you could get us some information. Thanks.
when did you first notice the issue? today, about an hour ago. |
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Does anybody know why black arrow site is down and why they aren't posting updates? Bobsag, as reseller, it would be good if you could get us some information. Thanks.
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Yeah we are definitely seeing the start of the replication stage. Its a good sign banks are trying to replicate even though bitcoin penetration in the real world is still so low. Banks can see a good thing. "Shame" they have no chance of usurping it.
of course they can usurp it. never assume something cannot be done. No chance. You can't centralise something that is inherently decentralised. |
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What is the point of investing in a currency with inflation ?
The value of Bitcoin is going up. The value of a currency with inflation go down. The difference between the two is huge growing gap.
So why ? I'm open minded, I just want to understand.
This is a good question. There is no sense unless the Ethereum rate of adoption exceeds the bitcoin rate of adoption. Unlikely in my view, at least in the initial years. But I'm no expert. |
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To ignore coin and profit is to deny reality. Communism is a failed experiment. We laud your generosity to invest on possibilities and your wherewithal to invest 20 Btc on visionary projects. Thank you. However, your noble actions are somewhat diluted by your criticism of others.
Sorry, I'm not a communist, and that is not my intent with my post. My point is that it's like people are arguing about how many shares of stock Google has issued, and at what starting price, wodering how much their shares will be diluted, while ignoring the actual business plans and people behind Google who will actually make those stock shares be worth something. People focus too much on the supply/demand side of economics, not the network effects enabled by the capabilities of the coin software. Much like people who don't understand bitcoin complain about it's supply/demand, and complete lack of backing compared to FIAT and gold, while completelly ignoring the fact that bitcoin can replace most of our world's financial and legal asset systems. Apologies if you felt I called you a communist. I was trying to use the concept of economic incentives not the political overtones. The point is that if you had $100 invested in google whether you should then invest in Facebook. That discussion is ok in terms of ROI comparing the two. Sure fb might do well but maybe google would do better. However, if you had $1 billion in google, throwing $200k into fb would be nothing to you. |
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What factors do you think are most important in todays BitCoin value.
I think the trading pair BTC/us$ is still a good indicator if it comes to purchase power.
BitCoin now somewhat stable @~$900 is caused by?:
A few keywords...
- Law of demand and availability?
- The free market...
- Exchanges...
- Local BTC.
- Mining Hardware prices / availability.
- What is the influence of energy/power kWh price to keep a miner on-line?
- Network hash-rate.
- Services like bit-pay.
- "anonymity"
- usefulness
- market adoption.
- the community...
your thoughts and input pls.
Ordinary investors. The 99.9% who don't know how to, don't have the time to or don't understand bitcoin. Setup investment trusts as a first step to get 1% of global wealth investing into bitcoin. The value will skyrocket. |
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nah way too early only maybe 0.1% adoption at this point. but we are moving to 1% adoption in the next year 1 or 2 I believe.
by the end of the decade this will hit full on critical mass which is hitting about 15 or 20% where the network effect takes over.
and when that happens i think some very interesting things for the history books will start to happen.
for example if the dominant currency is not government controlled, things start getting real interesting. if certain cutting edge distributed applications do no accept fiat, ummm how does govt even do the things it is supposed to do?
but the more real interesting answer to that question is that you can start using distributed systems to pay for and care for things that bureaucracies are responsible for (like what roads get build, how much forest is cut, etc). They were invented back around the time of the Roman Empire or maybe dating back to the Babylonians and Egyptians... well if you can coinify bureaucratic decisions from transaction and proof of stake data, you can then lower your cost of government which is a necessarily high expense for analog civilizations.
sounds a bit far out but i think it is possible to have much more efficient societal level decision making that isn't such Byzantine labyrinth of regulations that even lawyers I talk to barely have a sufficient knowledge of to make sound decisions.
JP Morgan are trying to replicate. Also a Russian bank. I'm sure there are others. Who knows, we might see SDRs in a bitcoin protocol. At expansion rate of 20% per month, doubling time is every 3.5 months. From 1 million base to 1% of population, approx 70 million will take about 21 months. So, yeah about 2 years unless we hit some kind of tipping point in certain markets before then. Decentralisation will be an interesting transition. |
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That's why we must not fight them, rather bring them into the fold by attraction and bringing them to realize that they only can benefit financially by adopting these technologies.
Most of the people in our societies have been paying some kind of imagined debt whether perpetual (slaves or serfs) or temporary (wage slavery), our societies are debt driven not opportunity driven. Crypto makes access to capital that much easier, because it lowers transaction costs of finding high performers.
Anyway this is all I have to say on this subject. For now.
First they ignore it then they laugh at it. Then they understand it and will try to replicate it. Only after that will they all pile in and get as many as their pudgy fingers can grab. Still, that is ok. At least debt based fiat will be more or less fading into history. We are at replication stage I think. |
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But there won't be another 120 funds like this fund. How many pure gold funds or ETF's are there?
At least 4 in the U.S. that I know about. Several more in Europe. Could be 120 of them. It would be not unusual or surprising. At least one in Australia. As Btc value is bid, Btc spending should increase as Btc millionaires are minted. |
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Well, if they surprise us, then the silence leads to that dramatic effect (rationalizing here)
And if they don't, well the trust on their silence, and future projects, is broken.
This "rationalizing" does not make much sense. They want to sell batch 2 as fast as they can so if they had anything positive to report - they'd be banging that drum, I assure you. The fact that they are not doing it, well I'll let you rationalize some more but I really doubt they are going for the dramatic effect here... The only thing worse than being screwed is knowing I am being screwed whilst they sell more batch 2 machines. |
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Fiat based debt system is dysfunctional and inappropriate for society. Going back to hard money is the solution. Bitcoin is hard money without the problems of illiquidity because it is divisible.
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I find the typical Keynesian response of war (or alien invasion per Krugman) to stimulate demand, frankly disturbing. It represents everything wrong about our current economic paradigm and why an alternative is required. Is Bitcoin that alternative? Anything would be better than debt based fiat, IMHO.
I would at first suggest that we could see a rise of the chinese middle class, and increased domestic consumption to be the next engine of China. But in the current global situation with middle class crushed all over in "Democracies", it will be transcendant for the CPC to allow that to happen. So yes war is still on the table, is the global situation right now any different from pre WWI or pre WWII? maybe the fact that everyone has nukes nowdays may be a show stopper, but I don't take sanity for granted nowdays. And comeon it's ancient practice, it's not sought to stimulate demand. When societies reach an impasse conflict is inevitable because it has interesting properties: it exposes real value, and where true power lies. It's a darwinian proccess of Visions/Ideas and the Will behind them. In that light don't expect FIATs to make it easy for Bitcoin or any other crypto. I would like to think the world has moved on a little from WW1 and WW2. Where we used to have the gold standard, we now have Bitcoin, which is Gold 2.0 except it is divisible and thus solves the liquidity issues, whilst removing the inflation (and corruption) problems. War is an ancient practice and IMHO that is where it belongs, along with slavery, pedophilia (Rome) and colonialism. I am hopeful of development. Fiat waging war on Bitcoin is like Dubya waging war on Terrorism. I don't believe it is possible to fight something that has no identity, something that is essentially an ideology. Of course, Bitcoin is not terrorism, although I agree banks might feel terrorised. In my view, Bitcoin is as an inevitable paradigm shift for humans on the road of progress. Trying to stop Bitcoin is like trying to stop a wave across a very long beach. Thaaanos, I see we are disagreeing again. I suppose things are getting back to normal! |
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This thread sure has some new people who have no faith:( This is the ONLY stock that is bitcoin only that has proven itself. I am not as much of a shareholder as I used to be, but man oh man am I happy with the overall performance of this stock over the last year. It has been a rollercoaster but a for sure thing if you hold the best investor trait.....patience. Good luck Friedcat! I am waiting to see the rabbit pulled out of the hat!  And we shall call it FriedRabbit |
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Ethereum Thoughts and Questions Rassah, I agree with you that the people behind ethereum are the reason I have spent a few days looking at this very hard. I will be at the Miami conference, and I will consider investing if my questions have reasonable answers. Illegal contracts are particularly concerning to me. NECESSITY OF A NEW BLOCKCHAIN The whitepaper states that colored coins inherit the same limitations as the bitcoin protocol. Metacoins do not, but they cannot be truly secure without having a copy of the blockchain. How big of a problem is this? Hasn't the Electrum model worked for Bitcoin? Is there a big issue with just querying a bunch of supernodes to see if they all give the same result? Is it necessary to have absolute security with every contract, or only very high value transactions? Is it correct that metacoin clients won't need the first 14gb of the blockchain? BITCOIN BLOCKCHAIN SIZE Bitcoin Magazine's analysis showed that since storage capacity and internet bandwidth follow Moore's law, the blockchain size will not be a problem to store on phones. How many years from now should we predict that the blockchain size will become irrelevant? If the blockchain size were irrelevant, would that remove the need for ethereum? How much demand is there for blockchain contracts at this time, and how fast should we expect demand to accelerate? ETHEREUM BLOCKCHAIN How fast should we estimate the ethereum blockchain size will grow? What will be the effects of ethereum blockchain size growth several orders of magnitude greater than Bitcoin? Will this lead to more mining centralisation? TURING COMPLETENESS Is it reasonable to think the client can be sandboxed? What will be the effects of these, since the protocol is Turing complete: viruses, malware, adware, keyloggers, scam contracts, wallet stealers ILLEGAL CONTRACTS What will be the effects of illegal contracts? An assassination market, for example? Will the Silk Road be able to run on ethereum? Will a database of child porn be able to be stored? If there is child porn stored on the blockchain that is easily accessible, will it be legal to store the blockchain in any country? What will be the effects of running all the clients over Tor by default? Can a 60s block time with huge blocks work over Tor? SATOSHI'S ARGUMENTS In 2010, satoshi succesfully argued against including Namecoin into bitcoin, suggesting merge-mining instead. "Piling every proof-of-work quorum system in the world into one dataset doesn't scale. Bitcoin and BitDNS can be used separately. Users shouldn't have to download all of both to use one or the other. BitDNS users may not want to download everything the next several unrelated networks decide to pile in either. The networks need to have separate fates. BitDNS users might be completely liberal about adding any large data features since relatively few domain registrars are needed, while Bitcoin users might get increasingly tyrannical about limiting the size of the chain so it's easy for lots of users and small devices." -- Satoshi You can view the rest of his arguments in the thread here: https://bitcointalk.org/index.php?topic=1790.0;allDEVELOPER COMMENTS I have not seen any core bitcoin developers comment on ethereum. Is there somewhere besides the reddit and the thread on bitcointalk about it? I am not very technical, so sorry if some of my questions are invalid or stated incorrectly. I also posted this on reddit.com/r/ethereum since it seems like Vitalik responds there more often. Illegal contracts and illegal activities will require political intervention because society itself defines those limits. This implies some kind of voting system is required. The fact that Satoshi was reluctant to build something relatively straightforward like namecoin/bitdns into bitcoin likely means Ethereum will face some very challenging scaling obstacles in the short term because Ethereum is trying to potentially run all protocols at the same time. I hope I'm wrong but Satoshi is very wise. |
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Pretty messed up seeing people discussing Ethereum on here from the point of view of "coin and profit," instead of "platform and possibilities." I guess it's mostly the same newbies that still see Bitcoin as just a coin/commodity to invest in, and not a financial platform to develop on top of. Personally, I would invest 20BTC in things like BitMessage and OpenTransactions, despite their "coins" themselves not having any value, just because the possibilities they offer as platforms are enormous! I will be investing in this as well. Not because of the possible return on the coins (though I suspect that will still be substantial), and not even because of the initially proposed technology (which, as someone pointed out, is similar to some other coins out there), but because of the team involved. Ask any top VC out there. They don't invest in ideas, they invest in people. It's also why Bitcoin will always be top coin, despite other altcoins constantly coming out with little fixes here and there. The quality, and quantity, of people working on it is way superior to any other alternatives.
To ignore coin and profit is to deny reality. Communism is a failed experiment. We laud your generosity to invest on possibilities and your wherewithal to invest 20 Btc on visionary projects. Thank you. However, your noble actions are somewhat diluted by your criticism of others. Do I see Bill Gates moaning about how others are so short sighted? No, I see him going out there putting up a good fight because he is wealthy. If Ethereum finds few investors, we will not be wondering why. We know the economic foundations were not calibrated to reward early investors. That is a fact. Discussing it does not make one greedy, immoral or otherwise. It is an open admission of financial reality. I wish Ethereum all success. |
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To me, POW is such a waste of resources, we are spending millions on resources to mine BTC, it doesn't seem like the direction we should continue heading as the world struggles with limited resources. The amount of power wasted mining BTC is absolutely atrocious. Regarding your concerns with POS, read up on Transparent Forging. POW is completely susceptible to corporate control, look at the mining pools, you are close to 51% with Ghash.io alone. Meanwhile I'm forging Nxt right now on my RasPi.
Power line wastage is even more atrocious. Payment servers of credit card companies also use atrocious amounts of energy. Any reliable decentralised payments system will need power to function. POS seems like a step backwards in terms of centralisation. |
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