.. that is unqualified ignorance, is what it is. Mostly corporate workers connecting to employer servers are biggest users of VPNs. |
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Krugman is now hedging: Do you think Bitcoin will gain momentum and become a viable currency?
No. I could be wrong, but Bitcoin is harder to use than other forms of electronic payment, and lacks any fundamental source of value (unlike dollars, which can be used to pay taxes). It’s possible that Bitcoin will somehow become self-supporting, but for now my guess is that it’s largely a fad that will collapse one of these days.http://www.princetonmagazine.com/paul-krugman/This is the error which is obvious to many here, but not many mainstream economists. Bitcoin has enormous fundamental value because of its utility. Rapid, global, transfer of monetary value without third-party intervention, is fundamentally of value. The security of the system, through mining, and the cap on total issuance are pillars which makes the technology monetarily viable. There is a subtlety here: the stored value of Bitcoin derives from its ability to transfer value. Eventually Krugman will figure this out, but it will be hard to accept as he will still cling onto the inflation-is-good meme. Krugman needs to read more John Nash ... money falls into the subset of Game Theoretic studies "games with transferable utility"http://sites.stat.psu.edu/~babu/nash/money.pdf... to understand how bitcoin derives value purely from utility. |
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applepay looks like same old credit card turd wrapped up in shiny new apple packaging wrapper ... right?
and we all know that credit card is old expensive tech., someone will have to pay for that somewhere along the line, odds on it will be the users, one way or the other.
And there will the inevitable hacks, frauds and inside jobs of the applepay centralised DB itself, while the currency units they use are devaluing too ... where's the upside?
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https://bitcoincharts.com/charts/localbtcUSD#rg180zigDailyzm1g10zm2g25zi1gVolzvzcvDemand on street is rising and strong, typically >$50 premium above the fake bid/ask markets also ... this is a key difference with gold/silver physical also the street availability for BTC delivery is almost ubiquitous now. That real demand will inevitably swamp the games being played on the central auctions where fake, ephemeral electronic bids/asks are tolerated.
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good timing chainsaw dude.
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They are more correctly waves than bubbles since they all have reverted to higher lows, so far. Big money are here now, confirmed. From first and second hand discussions with people employed with large financial institutions, including several megabanks, that have active research into bitcoin as an investment strategy or data analytics tool. Notably one with ~US 1.5 T (yes trillion) under private wealth management and a consortium of banks who are interested in establishing a BTC futures clearing platform (apparently legally easier than adopting/handling the BTC itself in their legal/accounting, go figure). No BS, you heard it here first. |
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Wow I wonder whats going through that kid's mind right now..
Ecstasy, meth, weed, coke, booze ... raging teen hormones, hard to discount anything at this point. |
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very close to both hands time again ...
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Thanks for sharing. This is really a great point in the article: Unfortunately for gold, it is relatively stagnant in terms of its use. It does have a few industrial applications, and generally gold has been a hedge against market fear and fiat currency inflation. Mostly, gold acts as a crude storage of historically-induced, market imposed value.
In comparison, bitcoin is remarkably different — its market ecosystem is unique compared with all other contemporary forms of value (e.g., gold, fiat money, and barter systems cannot “teleport” arbitrary-sized value between individuals, nor do they come with third-party ledgers). Bitcoin is anything but a crude storage of value, and the “intrinsic value” of bitcoins is readily apparent. In comparing the varied “protocols” inherent to gold and Bitcoin, the key differences become clear:
In short: The "protocol" nature of Bitcoin enables it's functionality to continue to expand and grow over time, both in terms of the functionality of the protocol (ex: multisig) and in terms of services layered on top (ex: online wallets, open bazaar, etc). This is superior over gold where it's functionality is largely fixed and static. Granted gold's functionality worked very well in the pre-digial era of thousands of years, but in the digital era we can do better. ... you mean, like it is a new form of money? ... like digital gold? |
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Satoshi is unhappy with the progress of the bitcointalk.org forum refurbishment with donated funds held by Michael?
Satoshi is concerned with the over-serious tone of BCT, and wanted to lighten things up. Except what on the face of it could be taken as a serious criminal death threat now opens up probable cause for a massive expansion in the search for Satoshi by LE ... similar MO that got DPR interestingly. |
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Satoshi is unhappy with the progress of the bitcointalk.org forum refurbishment with donated funds held by Michael?
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Hearn the "visionary" is much over-rated methinks, we shall see.
Got to admire him for having a go with his Lighthouse venture, how is that going btw?
Hint: guys who know about networks and build protocols don't do java ... except maybe for a hobby.
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Watch this space closely, there's some serious smoke emanating from the JPMorgan Chase data centers ... I've been following this for a while and piecing the bits together it looks like JPMorgan might be effectively pwnd, and perhaps a targeted attack by a geo-political enemy. Given JPMorgan is the commercial arm of the Federal Reserve acting in the markets (or vice versa) it's significant far beyond the headlines letting on http://www.bloomberg.com/news/2014-09-05/jpmorgan-had-exodus-of-tech-talent-before-hacker-breach.htmlThe breach went undetected until mid-August, months after hackers initially exploited a flaw in the company’s website to gain entry to internal systems, ‘what the hell is inside of us?’ |
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 the strange attractor at 1200 begins to work it's magic ... |
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He didnt give any technical documentation of how multigateway works until it was very near finished i dont think.. And that turned out far far better than expected. Just because he hasn't given a technical explanation of how it will work doesn't mean he doesn't know what he is doing.
Smelled like a bait and switch. Normally technical documentation have the key results and core novel concepts described in the abstract (the first paragraph on the front page.) E.g. read Nakamoto's paper. |
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Fifth, there would be no futures or options markets attached to it. Bitcoin has futures and options markets. i think the key here is that you can't print the underlying BTC. it's also important to have a number of exchanges spread worldwide so that no one exchange could be dominant or manipulated by a gvt. no cash settlements allowed either, if one borrows BTC to short, they gotta return BTC. and their leverage margin needs to be limited to reasonable levels. I think discounting it as a factor is unwise. With a monetary good price plays an intricate relationship with perception and price-perception. A minimal coin holding leveraged with options and futures can have a large effect on perceptions, as has been done in the commodities markets for managing inflation perceptions and stock markets for managing "wealth effect" perceptions ... |
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This is actually one of the good reasons I hold BTC. Because everything seems to be getting hacked today, and in the worst cast scenario... at least you still have your BTC (assuming you keep your computer safe). There is also the increasing probability of a major UK/US bank getting hacked or attacked into non-functionality. This could be due to criminal or geo-political reasons. The 'economic' sanctions targeting Russia now include financial transaction network disruption, make no mistake that this an act of economic warfare ... at some point the weak points in Western financial infrastructure (zombie over-leveraged fiat banks) will become the primary targets for retaliation. |
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Fifth, there would be no futures or options markets attached to it. Bitcoin has futures and options markets. |
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Something to note, we just passed the halfway point between the previous block halving (210,000) and the upcoming one (block 420,000), that was at block 315,000 ...
... the psychology of the market is from now on we are closer to the point of 1800 btc/day than 7200 btc/day inflation rates. If the market is adept at smoothing those lumpy step changes in issuance by pricing in demand/supply imbalances over long periods ...
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