Sorry for the delayed update.

It went well. I went to my instawallet on his computer and copied the address from his client. He put dollar bills on the table.

Here's my conception of a normal bubble.

Something moves up fast, maybe for legitimate reasons or maybe from government interference, doesn't really matter. Lots of people who don't know why the price moved up jump in and buy, others don't want to be left out and buy even more. All this demand can hold price up in the short term, but eventually the high price draws in more production. The price cannot remain much above costs of production for very long.

A high bitcoin price does not increase the production of bitcoins. Demand could shrivel away, but that's not how bubbles usually pop. Once the bandwaggoning by normal people who don't get it or care to begins there is no stopping.

A trillion is the number that has more and more zeros until you get bored. Public school, I assume?

Sorry for being a jerk

You don't say why you think he got information from this site, or even what information he has. I'm suspicious.

Okay, so someone can spend $20M to pause the network. It isn't dead and can be awoken for $1.

"Still needed" as if anything has cost a penny in two decades.

Forgot to book this, want to do it now?

Why do you think the network is dead if someone has half of the network power? Have you researched this at all?

For sure. If it's true that you can sell bitcoins for more $$ if you call them millibitcoins then smart people (there are some around here iirc) will buy from people who call them bitcoins and sell to people for more by calling them millibitcoins.

.00000001BTC = $1 means .00001BTC = $1000 means .01BTC = $1M

Satoshi was no dummy.

Did they go from 1/unconfirmed to 0 or from like 5 and 6?

Currency exchangers exchanging bitcoins is a natural thing. I don't know if large existing companies are going to be quick on the uptake though. I don't see how bitbills helps things here particularly. I think bitbills fits a niche, but I don't see why travelers are more likely to prefer physical cards to actual coins right now and it shipping and keeping inventory at every location would be the hardest part of the whole thing. It's way better to keep $10M in bitcoins in one location than $10k in each of 1000 locations where some locations will sel out in one transaction and others will just sit there and you'll constantly reshuffle physical cards instead of taking advantage of the ease of bitcoin.

I'm dying, that was great.

Where did it come from?

 

Everything since that's the offer you've got to beat to get interest?

Yeah, I think 2 weeks ago someone might have looked at the $6M 'market cap' and decided not to work on, say, another bitcoin poker site. But at a $33M level it's a little more enticing.

If the bitcoiners are richer and more numerous then there is more profit to be made in serving them.

Haha, worth it I think since I thought the same thing. Granted in kind of a "could it really be?" sort of way.

Even a free hotspot usually requires you to give them data to get it opened up. This is obviously possible.

Now what would be really cool is if there was easy software you could run on your home computer or router to give access to others for coins.

Money doesn't grow on trees.... anymore

                  Use Bitcoin

Ha! Not me. I'm an occasionally rational extremist!

I think you are right about this.


But not this. Fiat (as in backed by force, not by consensus) is the mechanism by which some gain at the expense of others. Having a group who can debase your savings is bad enough, as the overlords are farther removed socially they will abuse you worse and worse. But this power just doesn't exist with gold. I'm not talking about a gold standard. A government promise for gold isn't "as good as gold". I'm talking about free people choosing gold.

I don't think they will choose gold now, fwiw, Bitcoin is just better.