... the professors expect to address the risk and insurance implications of virtual currency activity, since investors currently can’t insure themselves against theft or hacking on bitcoin marketplaces the same way they can at a traditional FDIC-backed bank. Some companies are trying to build such insurance products, and governments must decide whether to provide security for a currency that, in some ways, competes with their own.

Yermack expects to pack the 50-seat room currently reserved for his class, but he knows the currency’s popularity might be fleeting and, if its value crashes to just $5 or $10 between now and August, interest in the course could evaporate.

“The trajectory of bitcoin is going to be crucial” to whether the class actually happens, he says.

Starting to assess bitcoin from an academic angle while the currency is still in its infancy allows Yermack and Miller to set the agenda for future study of the subject. “You can help shape the field by stipulating what you think the important topics are,” Yermack says. “For an academic, that’s fun.”

I would not invest in Bitcoin if you're looking for a rate of return. I don't think you could consider it a good investment, especially for a poor household in a developing country that may not have much savings. Bitcoin is incredibly risky and there is no intrinsic value behind it. If you invest in a stock, there is a company paying dividends that supports the value of a stock. If you invest in a government bond, you have the government's promise to pay interest; with Bitcoin, all you really have is hope.

David Yermack, finance and business transformation professor at New York University’s Stern School of Business, notes that critical to the survival of a cyber-currency is government support. “I am skeptical that any form of money will be successful if it is not backed by a sovereign government. Without this sort of foundation, a currency really cannot be a form of property because it cannot be pledged as collateral, foreclosed upon, reassigned in bankruptcy and so forth,” he says. “This will make it unattractive in a wide range of commercial settings.”

“Governments can try to ban [Bitcoin], but unless they literally control every communication over the Internet, it seems impossible to prevent transactions.” –Ali Shourideh

In a recent working paper, Yermack wrote that Bitcoin does not behave like a currency according to criteria used by economists. Money should be a medium of exchange, a unit of account and a store of value. Bitcoin meets the first criterion because more merchants are accepting it as payment. But as a unit of account, it performs poorly because it requires businesses to quote prices to the fourth or fifth decimal place led by zeroes, which is impractical. Bitcoins also are quite volatile, with different exchanges quoting different prices without giving investors the ability to arbitrage. Finally, Bitcoin is a poor way to store value because it faces “rampant” hacking attacks and thefts, he points out. It also has virtually zero correlation to major currencies, so its value is “completely untethered” to them, making its risks “nearly impossible to hedge for businesses and customers and [rendering] it more or less useless as a tool for risk management,” according to Yermack.

“Either this was a very clever piece of disinformation or a very careless error by the government. It’s a little hard to know which from a distance,” David L. Yermack, a professor at New York University’s Stern School of Business, said of the leak. “You want to create the illusion that there’s immense demand for this if you’re the government because you want people to bid as much as they’re willing to.”

Experts are divided on what information about Mr. Draper’s bid, if any, can be gleaned from the price increase. Losing bidders may be driving up the price because they know there is significant demand for the coins at a higher price. The increase could also be the result of interest in the auction itself, said David L. Yermack, a professor at New York University’s Stern School of Business.

“Just the fact that there was such broad demand would tend to push up the value of Bitcoin,” he said.

The final round will start at the same time tomorrow (22:00 UTC).

These 4 piggies will be assigned the following numbers:

1 SilentBit
2 ABitNut
3 amhmck
4 apsvinet

We will look at the soonest block after 22:00UTC.
The piggy who has the most repeated number within the Hash will be crowned the winner!

A tie breaker will lead to playing the following blocks until there is 1 piggy standing.

  

** We will still do some validation checks to ensure we are correct.  This list may be altered if we find there has been a mistake!

We have decided to sell 5 copies of our bitcoin web wallet service. The features include:

- multi-coin, multi-currency
- admin interface with ability to ban users, change fee structure
- user interface
- coin synced & up-to-date
- super secure with private keys being stored on the user browser (thanks coinpunk)
- Web UI for the content pages. You will need to change this so it does not look like our wallet.
- 2FA built in
- Unlimited wallet addresses for users
- many more features

We will install it for you if need be.

Please PM for access to the live site so you can create an account and test all features.

Price: 10BTC per copy.

I'm not from the US!
And I know the best places to buy honey from, And Thailand isn't one of them.

Sorry for the off-topic, Best of luck with sales.

Conspicuous silence continues... Currently it feels as if only Russia is interested in finding out what really happened. Even though no Russians died on board, Russia and its reputation is one of the victims of this shoot-down.

Death & lies: The only truth of flight MH17
http://rt.com/op-edge/183132-only-truth-flight-mh17/

The minister said the Netherlands would publish a report on the tragedy in early September.

Looks yummy, good luck selling it!

How much for shipping to Canada (British Columbia)?   I'm also not sure if it's ok to import honey or not.

Due to a poor compliance history, honey imported from certain countries is subject to a hold and test program as outlined in the Automated Import Reference System (AIRS).

How much is shipping to the USA?

Can get that here where I am (Honey from Longan).

Surprisingly (or maybe not) they sell it in the post office near me and it can also be ordered from most OTOP suppliers around the Country

Hope this helps 

I've lived in Thailand for quite awhile and IMHO Pure Thai honey has an exquisite sweetness that i've yet to taste in some of the other countries i've been to and i would totally TRUST 'something' coming from there. I'm just saying..

Free BUMP for you..Good Luck Selling!..Cheers!

I would be too afraid that it was a boy bee that only looked like a girl bee.

I think you'll find different flowers/pollen make different "flavoured" honey.

Thai bee's collect pollen from Thai flowers/plants, so yes, the honey flavour will be slightly different if the pollen the bees collect comes from other plants/flowers around the World

Hope this helps

Very  simple the network is 210ph or whatever it is.

There are 4 or 5 big builders of gear.

bitfury
bitmaintech
bfl?
spondoolies?
Asicminer
KNC
Black Arrow


If they have 1 watt per gh or less gear and mine.  They do not need to sell a thing.

Diff freezes at 2 or 3 %  they make solid money mining.

So why aren't they all freezing sales?

bitfury they have not sold to miners in a while

bfl  they sold they don't deliver

KNC they sold they don't deliver

Black Arrow they sold they don't deliver

bitmaintech has gone to preorders

spondoolies sp30 was a pre order

only asicminer is delivering and it is above 1 watt

this seems to be a very familiar pattern  

Dwarf Fortress, a very niche, free video game, is able to pay its devs enough for them to make it their full-time jobs without corporate subsidies/dev-leasing. They consistently raise $thousands each month, even though it sometimes takes over a year to release an update. They've been at it for far longer than Bitcoin's been out and enable a ~$0 economy.

but I prefer macchiato.

But then how is the account buyer able to verify the account seller is not a hacker?

BTW, we need the 2FA fuction badly (I know it will be there in the new forum).

Yeah right, It's like I would trust something coming from Thailand

so do we know vod2's real identity? i'd be willing to mark it red, if there's enough proof. trying to impersonate someone in the community here is kind of a big deal to me. good thing vod2 is terrible at devising a believable plot.