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I'm not sure, I think it can be tricky to track coins through the blockchain. I'm no expert though, I'm sure it can be done by someone who knows what they're doing. But it's not always clear which coins have gone where, due to 'change addresses' - one of the things implemented in the code which I didn't understand at first, but now it makes more sense: using change addresses by default helps to obscure transaction history.
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If you followed the coins to that address, they must have ended up going to SR before it was seized. So yeah, the coins were probably spent on drugs.
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Trust you why? Do you know something we don't? I mean I hope you're right though..
Elwar knows something that most of us know: Bitcoin has a good chance of reaching a much higher value in the not too distant future. At that point you will want to be holding as many as possible. |
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You have angered the China by making too many new threads in speculation. The China is punishing you for your lack of discipline!
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You'll say the same about bitcoins in 2100.
Are bitcoins mainstream? Yeah , there are 900 millions users /day.
2100? I'd be suprised if Bitcoin is still in use, it will probably have been replaced by then. I expect mainstream adoption will occur much quicker than that: let's see where we are by 2020. |
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Seriously?  Now I'm disappointed. This has got to be the most anticlimactic bubble ever. Less than 50% price gain over the last bubble, followed by a crash not only smaller in % terms, but smaller even in flat $ terms. Gox didn't even get DDOSed, for god's sake. Worst. Bubble. Ever. I'm so glad someone gets it. AAA+++!!! very amusing, would read again. Don't worry, the bubble has only just started. |
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But make no mistake, in the end everybody is in it to eventually cash out.
Maybe many people but not everybody. Some would like to see the experiment largely succeed and for Bitcoin to become a widespread, useful tool. For them, bitcoins are a form of cash. Yes but those people bought or generated a few coins once upon a time and see how it turns out. I'd say the people that buy at regular intervals are pretty much excluded from this group. Maybe a lot of people start out with the intention of 'cashing out' for profit - But as more infrastructure is developed, they may find they can actually just spend their BTC on the things they wanted to buy, and by that point their BTC are worth a lot more. That's what we're aiming for in my opinion. |
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^ Nope, don't think so. You sound like the typical whiny "missed-the-boat" person. People who genuinely made 200 btc have no need to brag about that on a forum. I bet you bought somewhere in the 360's.
At first, missing boat == NOT BUYING bitcoins and waiting for "<$200" forever. You cannot miss the boat NOT SELLING, which is more likely missing local bus that circulates every hour. If you check my previous posts, you will see at what prices I've bought and you will see that I predicted a trap. Last time i bought at $355 which is pretty fair. When I suspected that bear trap may happen, and I even sold a small part of my coins (which is very unusual for me as I'm not speculator). I knew it was risky move but I got rewarded with +200BTC. Nicely done. I expected a dip over the weekend, and was really tempted to sell on Friday evening around $350 to buy back below $300. But last time I tried to catch a dip, I lost out big time, so I decided against selling...  Boxman lol, I'm sorry but sounds like you're the whiny one: wishing you had caught the selloff? I know I am! Yeah I'm envious, but I made my descision, fair play to zeroday for making a good call. |
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I've read that post, and I think its the best summary of the current situation in bitcoin that there is. Everyone should read it, especially the 'I think bitcoin is overvalued because I can't spend it anywhere' crowd. |
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if only i could find a way to directly extract *usable* energy from heat, thus creating cool.. and energy.. well then money wouldn't be a problem.
The laws of thermodynamics would like to have a word with you. It would certainly be possible to extract usable energy from the heat produced by mining. Somebody could design a mining rig which is water cooled (I'm sure they already exist?) - the water gets heated up in the process of cooling the ASIC chips. This heated water could then be circulated to provide central heating. This would mean that you could use the energy that you were going to use for heating anyway, and put it to work offsetting the heating bill by mining bitcoins. EDIT: Ah I see, this wouldn't be useful in India haha. I don't know if you could extract the heat energy and use it to power a cooling sytem. In theory it's possible but in practice I'd imagine it would be far too complicated. |
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Hi sublime This unit thing is dragging on a bit, eh? I think I've figured out where your confusion lies. You assert that Bitcoin is not a unit. Have a look at one definition of a unit, and it seems that you are correct: http://en.wikipedia.org/wiki/Units_of_measurementUnits of measurement are used to measure physical things which are 'objectively real'. Therefore Bitcoin is not a unit of measurement. It is, however, a unit of account: http://en.wikipedia.org/wiki/Unit_of_accountUnits of account are used to measure monetary value, e.g. the amount of wealth/value stored in $1000. Value is an abstract and subjective concept which doesn't exist physically. You seem to be confusing units of measurement with units of account. Some things may fit both definitions, for example an ounce of gold: as a unit of measurement, a 1oz gold coin represents the amount of mass which people have agreed upon to be equal to 1oz. It also has value (an abstract/subjective quantity) and can be used to represent 'the amount of value contained in 1oz of gold'. Value is not physical/objectively real and is therefore subject to change as dictated by the market. Does this help at all? EDIT: Also see here: http://en.wikipedia.org/wiki/CurrencyA much more general use of the word currency is anything that is used in any circumstances, as a medium of exchange
So by the general/colloquial use of the term 'currency', Bitcoin fits the definition as it is (or can be) used as a medium of exchange. |
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What does that equate to in USD so that I can put the [?] in Post #2 of this thread? About $22 - Litecoin has been on a roll lately, climbed to $4.20 from about $2  |
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“the governance of the bitcoin code and network is opaque and vulnerable,”
I thought it was open source, and that anybody can review the code if they wish to? Although I guess it will never be as transparent as the current system...  |
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Heh, reading just the title, I was sure this was a humorous posting making fun of the speculation forum. It seems op was serious  Ha, yeah I was serious (mostly). The problem is I go back and forth. Bitcoin really DOES seem like it has the potential to be revolutionary and MASSIVELY successful. And I sometimes think I'm a genius for understanding its implications earlier than most. But then I remember that I'm not that smart. And I haven't exactly won over the friends and family I've tried to convert. ("Dude, you've got to drop the bitcoin sh*t. Seriously, I don't care.") And then I wonder if I'm not just a moron who spent several grand on "Mario money" (my wife's preferred term) that will soon be worthless. I guess we'll find out. You and everyone else here. Dealing with that. You need to understand - the vast majority of the population (90%) do nothing but live day to day. They're happy with their 9-5 jobs, their cubicles, and they're content to just "exist". They don't explore, inquire, or think outside the box at all. It could be lack of intelligence or laziness. I prefer to think its an intelligence thing. But nobody cares because they don't care about most things. The majority of humanity are sheep, lead by the herd. Even mister Jesus Christ said this about us, accurately. you're not a moron, and you're not crazy. If you have an IQ worth noting, and you've evaluated the situation fully, then you're right, and they're wrong. Its difficult biting my tongue, and it will be difficult not shoving it in their faces later. That's the true challenge ^^Thanks for that comment Bitburger. Even though I'm a contrarian (because other people are often wrong) it's nice to see someone state my exact world view every once in a while. I think most people are just lazy and scared though instead of stupid. Most things they cannot (or will not) do aren't complicated at all and everyone that isn't retarded should be able to understand it. It's just disinterest (how odd that may seem). I think most people assume that things which they don't understand are much more complicated than they really are. That puts them off doing any research into new concepts such as cryptocurrency. I have always taken an interest in things which I don't understand. It seems like the most natural thing in the world to just 'ask Google' when you don't know something - I mean, that's what it's for, right? My friends could never understand why I spent time looking up seemingly irrelevant things on the internet, and conversely, I could never understand why they wouldn't just look it up when they didn't know about something. This forum consists of those people who think for themselves, ask questions, and keep an open mind. |
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By order of the Grand Priesthood of Satoshi I hereby call and ordain Richard Brown to the order of High Priest of Cryptocurrency Public Relations.
In all seriousness, Richard, that was probably the most eloquent interview I've seen on bitcoin and cryptocurrency. It was a delight to listen to somebody with as deep a technical background as yourself speak so simply, and it was refreshing to hear you call attention to the novel and innovative features of cryptocurrenty beyond (obvious) economic/currency implications. Thanks for being a part of the community, and please keep it up!
proudhon! are you back for good? +1 Nice to see you're back. |
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Richard Brown here. Thanks for the comments. fyi - I started a thread on this when the Finextra video first went live. There were some very interesting comments there - and I attempted to elaborate/justify some of my claims in more depth. https://bitcointalk.org/index.php?topic=316405.0Hello Richard. Excellent interview, its always refreshing to hear from people who know what they're talking about, and are able to see the long term potential of this technology. I would be interested to hear your thoughts on mastercoin - they are currently working on some of the potential uses that you mention. |
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