the network effect of new network protocol with first mover advantage is easy to replicate ... yeah, ok, I guess that's why the stolfi and buffet alt-coin pump 'n dump is going so well  |
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It is all playing out exactly according to the script. It is amazing how reticent large firms are to even investigate the possibility that they are not the light at the end of the tunnel but the deer in the headlights. http://en.wikipedia.org/wiki/Disruptive_innovationWhat they have shown is that good firms are usually aware of the disruptive innovations, but their business environment does not allow them to pursue them when they first arise, because they are not profitable enough at first and because their development can take scarce resources away from that of sustaining innovations (which are needed to compete against current competition). In Christensen's terms, a firm's existing value networks place insufficient value on the disruptive innovation to allow its pursuit by that firm. Meanwhile, start-up firms inhabit different value networks, at least until the day that their disruptive innovation is able to invade the older value network. At that time, the established firm in that network can at best only fend off the market share attack with a me-too entry, for which survival (not thriving) is the only reward.[3] I would say that if threatened encumbents do not have a bitcoin strategy by now/soon they are destined to become obsolete. |
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Insta-inflation in the connected age ... hyperinflation is so passe now. |
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It should be mentioned that any of the attacks currently being discussed will defeat most on-line banking sites and on-line payment systems, web shopping, etc.
If your machines are this compromised you probably should not being doing any kind of money (or personal information ) management with them.
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Gresham's Law has several crucial assumptions about the role of the State in money that you have ignored to arrive at a wholly incorrect conclusion.
More reading for you before you begin spouting again I would advise.
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hungry bears heading ripple's way ... looks like a big, plump, juicy end-of-rally berry patch
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closing time ... bears, you're drunk, you don't have to go home but you can't stay here.
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Now thanks to a new report by ESMA titled "High-frequency trading activity in EU equity markets" we know: in the lifetime total of all orders, HFT accounts for 76% of all orders by, 49% of all trades and 43% of total value traded. http://www.zerohedge.com/news/2014-12-19/hft-accounts-76-all-orders-europethe day the EU market slips, there will be no mercy. robots just dont do mercy. I think the bigger problem is now that every time the robots figure out that it is time the market crashed then the humans panic and turn the robots off, reset and claim 'fat finger' foul or otherwise ... and this gives rise to those crazy spikes and flash crashes, etc. Then there are the robots doing the work for the Fed and Treasury (ESF) that are more like closed-loop control algorithms working large multi-variate arrays of pricing to 'stabilise' the whole system using cash as a control input, priming humans expectations of pricing and thus financial incentive structures ... which all seems to work fine on 'normal' days but start demanding massive cash inputs on panic days (like 'hey the system just disappeared $700 billion, how did that happen? start bailing and pumping or this thing is gonna lock up') |
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What's happening is not by accident... The price pressure, the timing of the auctions, articles like "is bitcoin done?" etc are co-ordinated.
TPTB want to highlight in every financial and mainstream media the message that "the worst investment of 2014 = bitcoin". Just count the number of articles with that theme in the next couple of weeks.
yep, the on-song trolls started with 'the message' a few weeks back. |
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in your case the trolling identifiers are implicit
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buy now or forever hold your peace.
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60minutes and 60seconds : not sure why :
Because the Babylonians counted in base 60. No joke. They were there first in astronomy, and they divided the heavens with units denominated in base-60. For them, this *WAS* the metric system. base60 is where it is at ... prime divisors 1,2,3,4,5,6,10,12,15,20,30, and it is three sets of total human digits. |
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The Swiss National Bank (SNB) is imposing an interest rate of –0.25% on sight deposit account balances at the SNB, with the aim of taking the three-month Libor into negative territory. It is thus expanding the target range for the three-month Libor to –0.75% to 0.25% and extending it to its usual width of 1 percentage point. Negative interest will be levied on balances exceeding a given exemption threshold.http://www.snb.ch/en/mmr/reference/pre_20141218/source/pre_20141218.en.pdfThis is in response to capital flight from Russia with the collapsing currency. Now imagine if that capital flight one day starts to direct itself into bitcoin (or gold) instead of to another fiat currency as is the norm today. Just think of all the fiat currencies today, only very few desire or could handle a large influx of new capital (well maybe the Ruble right now). Their managers actively discourage it by slashing interest rates, even into negative as the SNB are so terrified of having a 'strong currency'. They all know that if there is ever a strong preferable currency it would become 'THE ONE'. Enter bitcoin, a global electronic currency that welcomes and encourages the prospect of appreciation in value. Wonder what happens next? |
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...blockchain.info not affected but certainly Circle and CB affected.
I think that'll be a really interesting question. I agree that blockchain.info *shouldn't* be affected, since all they do is deliver client-side tools, and offer a hosting service for user-encrypted files, but I'm very skeptical that a regulator (or a judge) will understand that. their ignorance in these matters is almost guaranteed, people are betting on it in effect. The more they draw the lines the easier it will be to see how to straddle, side-step or tunnel under them. Time-locked, multi-sig with an untrusted 3rd party and 2FA? Huh? |
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There is a growing body of evidence that bigger government means slower growth of real GDP. Once the level of total government spending as a percentage of GDP reaches a tipping point, estimated to be from 15 percent to 25 percent of GDP, additional expansion crowds out private productive investment and slows economic growth. When government overreaches, economic freedom is diminished and private exchange opportunities are lost — that is, the range of choices open to individuals is restricted. This is hardly a revelation, most of the communist economic experiements of the last century have demonstrated this is abundance (well total lack of abundance). The question I suppose is how much communism is too much? 15%, 30%, clearly 100% is fatal, and anything more than 50% is probably also terminally toxic. Optimally operating economies seem to have around 5-10% govt. share of GDP but it also depends on strong justice and legal systems for protection of individual freedoms. |
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noone has ever lost money buying bitcoin on declining difficulty  What about september 2011 - november 2011? why did you sell then? |
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noone has ever lost money buying bitcoin on declining difficulty |
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“At the end fiat money returns to its inner value—zero.”- Voltaire Bitcoin is by definition a fiat currency:
The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith. Fiat is the Latin word for "it shall be".http://www.investopedia.com/terms/f/fiatmoney.asp fiat means "by decree" ... as in the govt says "this piece of paper shall be money" and the people take it on faith (shared illusion). Oxford english definition of fiatA formal authorization or proposition; a decree: e.g. the reforms left most prices fixed by government fiat Investopedia is a lightweight useless reference source it seems. Bitcoin has collectable, numismatic, utility and cost of production value as determined by the market and NO government has decreed it as money. It is demonstrably NOT a fiat money. |
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