Single digits would be the best thing for the currency right now. Clear out the speculators, let the regulators laugh us off again, and think hard about developing ways to avoid this kind of bullshit going forward. Most importantly, it would send a clear signal that getting 30+% of hashing power is not a desirable thing, because it crashes the currency and makes all of your investments worth nothing. Then maybe pools won't be so nonchalant.
Bring it on.
I understand your concern, but why do you think that GHash.IO not understand the senselessness of the "51% attack"? Is they stupid idiots? Do they want to compromise a network and turn their assets into dust? In my opinion they are clearly indicated their position and we can only hope for their prudence. It's not as small as it seems, because the rich people always have common sense and logical thinking, otherwise they would not be rich. Hope? I hope Bitcoin is backed by something stronger than hope. |
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Overstock is NOT accepting bitcoin. They accept USD converted from bitcoin by a 3rd party who is willing to take on the "risk". That doesn't inspire much confidence... but at least it sounds good and that's good enough for most people  |
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I want my bitcoin to magically turn into many, many, many green dollars.   |
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SHAME and TRUST are powerful tools. There is much that can be done. I am researching this now. As a precaution, I have informed all our hosting clients that requested Ghash.io as their pool are now being moved off the service until we get clear data on if the pool or customers in the pool are working in a counter-productive manner to Bitcoin mining.
Oooh, interesting. By looking at majority of the posts on this website, I would say most customers make choices based on projected returns. What if the customer doesn't care about the Bitcoin idealogy and just wants the best return on investment so to speak? Well, not my problem at least. |
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Well, a promise is a promise guys. We can breath easily now. Bitcoin is safe!!
Lets all hope GHash gets up to 51% quickly and stays there for a long time so no other entity will have a chance to perform an attack. Bitcoin would then be in good hands. Not exactly decentralized but in good hands. Promises are good forever.
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The possibility of this happening was known since the very beginning so why are you all freaking out now when it's too late? No central bank you say? The entity with the most computing power is the central bank. Will be interesting what happens now.
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What happens when all bitcoins are mined and competition for bitcoin mining decreases because there are only transaction fees? What then?
There will be a new, better coin by then. People are mobile and follow the path to where new opportunities lie. |
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How is bitcoin going to help me get to the promised land?
Kind of sad to see bitcoin used for some propaganda bullshit.
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Why does it matter what happened to the coins? Obviously it's the owner's private business. Gotta love the bitcoin transparency. If I see a briefcase overflowing with $100 bills, I would wonder what was going on. Bitcoin just gives youa better 'vantage point'. Briefcases overflowing with $100 bills move all day long behind your and my back. I doubt either one of us will ever see one. On the other hand bitcoin... the big brother is always watching. And the little brother and the grandma, too.  |
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Why does it matter what happened to the coins? Obviously it's the owner's private business. Gotta love the bitcoin transparency. |
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Investing something you can't afford to lose is one thing.
Investing something you don't have is another. How exactly does that work? Debt on one hand, uncertainty on the other. What a great combination..
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Paypal is a payment processor. They're most likely already working on something for Bitcoin. Why are they seen as competitors?
Question for OP: why do you not sell equipment for Bitcoins?
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Here's my big substantial newbie post.
My first encounter with Bitcoin dates back to year 1849. I was a tall, slander, handsome, scrubby but most importantly of all - single - dude. I was a visionary and a forward-thinker. I discovered the "bit" part of bitcoin at an early age but it wasn't until '49 until I discovered the "coin" part.
I was 17 at the time. The first paycheck I earned from my mining gig in California was paid to me in coins. I thought to myself "coins are awesome!". That was a milestone. On that day I started collecting coins bit by bit until I got a sack full of copper. I started referring to them as "bit-by-bit coins". It was my own hard earned money. I was proud. I spent it women, booze, and chemical stimulants. It was money well spent. Since the name bit-by-bit coin was a bit awkward, I shortened it to "bitcoin". And that's the story of the original bitcoin folks.
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I have exactly 0.000000000000 bitcoins. It's all good.
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Are people going to spend their bitcoins on shopping when their value continues to rise?
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Me, I don't mine or trade yet. I honestly get more pleasure from watching people go crazy over this stuff. Chasing the ever fleeting American dream.
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I'll start the bidding at 1 BTC.
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