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Virwox is one of the few places you can buy Bitcoin (indirectly) with a credit card. I expect these exchanges going over 100 means a rally is coming.
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Bitcoin is showing its teeth.  |
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It sounds like Sky News is invested in Bitcoin trying to pump (and maybe dump) Bitcoin. Still, even if they are it's good publicity.
That's an intriguing interpretation to me. Were you and me looking at the same article with the squat and the 'Economic Expert' proclaiming investing Bitcoin to be like burning your money? Admittedly the whole piece paints a different picture but if there was a company policy here then surely they'd all be singing from the same song sheet? Amir is a cypherpunk. The burning comment made by the stiff-in-the-suit is less appealing than the visionary warrior imagery on the rooftop. |
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web 1.0 = passive
web 2.0 = active
web 3.0 = payments???
I don't think web 3.0 is a good word to be used with bitcoin, it really makes no sense.
If you think of Bitcoin as an essential money system for the internet, then it is a marketing vector that might work. Americans are inculcated from birth to label by brands rather than function. |
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Only Nixon could go to China. Only Keiser can go to Jones.
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 What do you see? A shotglass of Everclear? |
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It sounds like Sky News is invested in Bitcoin trying to pump (and maybe dump) Bitcoin. Still, even if they are it's good publicity.
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Eventually large mining business like Ali-Mining, VISA-Mining, etc., will process transactions and offer competitive fees for subscribers. They will use their own power plants and use the heat generated for other industrial uses. They will operate at near 100% energy efficiency.
Before you get all "hey that's like what we have now" on me, remember that they will be competing with all other corporations and governments for market share of the Bitcoin fee processing.
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Conclusion:
If we just take the average valuation we end up on 1383 $/BTC or a market cap of 29 Billion $.
I came up with something close. My estimate is that Bitcoin is 1337. |
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Is there something similar to MtGox for LTC there?
LaNu5nWRrFSCmibUZkd52gZsgSQpJCdQuG
I exchange LTC for BTC at BTC-E |
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Bitcoin needs a manifesto to appeal to the OWS crowd and this is pretty good. Stay away from the term "experiment" no matter who said it. Satoshi isn't here anymore. Bitcoin is here to stay no matter what the FUDsters say. This is a revolution, indeed.
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Before long 100$ will be a typical daily price increase. Yea you can call me a nut if you want to.
Yes, but they will only be available to deep pocket investors. Hell, I'm having great difficulty buying small amounts even now. |
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GLBSE was such a great idea. I hate to see this idea die. Is there a way to use Ripple instead? Maybe you can create an IBB currency on Ripple that grows in value based on profits from BTC loans. It just seems like a great fit.
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With commodities you have a paper trail that can be manipulated, counterfeited, and estimated with rehypothecations of assets. Traditional derivative bets cannot be made with Bitcoin because you will be forced to prove ownership by signing your addresses. Good luck loaning bitcoins you don't have. Someday you may even be required to use triple-entry accounting. Better enjoy the wine while you can.
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The comments option for that blog was closed. How convenient. FUD.
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Actually, there may be a very easy way for a central bank to destroy Bitcoin. Just back their money 100% with precious metals.
Indeed if all the worlds central banks actually started to do their jobs; keeping prices rock steady with no inflation or deflation and made transactions free and private and stopped seizing bank funds - the appeal of Bitcoin would lessen. Add some exchange crack downs, attack-mining and repeated hacking attacks against all Bitcoin users and they might do very well. As for manipulation I would buy 100 billion $ of BTC and then just sell slowly "forever" in such a way that anyone who held Bitcoins would always loose money over time for years and years. I would make a few millionaires sure but from then on drive most away. However their system is fundamentally broken, they rely on printing money to line their pockets and keep their friends happy. It's a card house of excess and decadence waiting to fall. It's a system of plunder with corporations paying politicians for parts of the pie. Well such a pie quickly shrinks and Bitcoin is the spark. Agreed. Bitcoin is the only way to reform the system without loud noises and weeping mothers. |
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For a tomatter with a mind he never learned about red/green text. Bad tomatter!
Color blindness is not a laughing matter. |
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Actually, there may be a very easy way for a central bank to destroy Bitcoin. Just back their money 100% with precious metals.
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Bitcoin is designed to take about ten minutes to be verified and more so to be well verified. I don't understand why exchanges are using the stock exchange model of instant trades when it is unnecessary. Why are we in such a hurry to buy 0.01 BTC? HFT is one factor destroying the stock market, so why are we accepting it in Bitcoin exchanges? I know that it is a "free market" but let's use some reason here. If HFT combined with DDOS attacks is going to plague Bitcoin exchanges, then why not do something about it? If we slow down the ability to "price discover" the exchanges, then HFT will not have the opportunities to exploit DDOS attacks and Bitcoin will roll along smoothly every ten minutes. IMHO Bitcoin price is psychological and not so much a matter of "free market" forces. In psychology we use statistics to create useful behavioral analytical tools. I don't see why we can't do this with Bitcoin.
edit: changing the title.
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