OK, this ad claims to take MintChip for payment. Really?

I doubt it. The funding suggests they are repurposing old technology in new ways to improve older systems. To put down quantum security research belies their wish to have the budget to do quantum security research. In fact, the paper states that quantum encryption is still only theoretical, which is probably true. Still, whether it works or not (because I know little about theoretical physics) I am always a fan of finding new uses for old technology.

It's probably not an ipod unless Matthew also got an exclusive Bitcoin deal with Apple on his birthday too.

How would your trust system be measured? Would you pin the trust system to USD?

I am very much against the "web of trust" as it is only a continuation of elitism. There are other ways to apply trust to Bitcoin, but a universal database isn't one of them. A Ripple type system would provide the trust a lender might need. Ripple will work best in local economies, but still need a way to trade globally. Ripple/Bitcoin exchanges might do that.

Constantly giving money to the banks is unfair. It's time to give money to the people to decide what is best for the economy.

There is so little money left in the accounts of anyone but the 1% that the banks have no problem giving folks money they don't have.

Yeah ripper234, you are onto what I've been planning for a long time. I am planning an art registration business using the blockchain to verify authenticity of original paintings, prints, and other physical works of art.

I suspect that this device is so far ahead of its time, that they will not be able to keep up with demand. I kinda hope they just license out the technology to anyone willing to market up-scaled versions and use the licensing fees to make the cheapest version possible for developing countries.

After fees for trading and exchanges, Bitcoin is more expensive than fiat for me. This is a temporary problem. Also I've noticed when there is a lot of volatility, the Bitcoin stores have problems. Again, a temporary problem. You can believe I'll be spending Bitcoin when the value soars.

I don't think there are any true bears holding Bitcoin. So we hoard. It's not that we're cheap, it's just that it is safer to spend $100 in fiat money that will be going down in value, than $100 worth of Bitcoin that will be going up.

If anyone is to blame for folks not spending Bitcoin, it is merchants that are not willing to give Bitcoin discounts or simply demand Bitcoin only payments for their unique merchandise that cannot be easily bought with fiat money elsewhere. Bitcoin vendors need to be looking for niche markets and exploiting the unique properties of Bitcoin.

Examples: Ticket scalping would be an ideal business for Bitcoin only. It is for short term, last minute sales. Last minute reservations at hotels, restaurants, and transportation should be secured through Bitcoin to eliminate identity fraud. Yet none of these exist.

That's just a few reasons I'm not ready to spend Bitcoin, but I am hoarding them for the day when I will be able to do these things. Blame the market, not the customer.

Isn't everyone that buys one a venture capitalist?

I do think we need to think about a post MtGox and TradeHill world. I know they are working under extraordinary circumstances, but we must prepare for the worst. BTW, how do I get on Bruce Wagner's email list?

It's not what he said, it's how he said it. Stealing the thunder from a competitor whether it be another magazine or a device or whatever just shows that it seems to be all about Matthew. I hope he doesn't forget that this is a community and that no man is an island. It's fine to be competitive, but let's not forget that we stand on the shoulders of giants. So go ahead and delete my post for being off topic, or just grow up. Having said that, I wish him well.

I've seen a lot of enthusiast magazines come and go in technology fields. I hope Bitcoin Magazine tries to get away from a technology focus. This magazine has the potential to change the nature of financial publications.

Someday there will be Public Service Announcements reminding people not to litter the blockchain. "Give a shit, save a bit." 

Nice post. This belongs where newbies will find it.

In the 30 seconds it took to go over the scheme, it is too vague to not be corrupted. Instead of basing money on national debt, it is based on personal debt. It should be called GIGOCURRENCY for garbage-in, garbage-out. Bubbles will be created when overly assessed collateral is rehypothecated. There is no central bank to QE an out-of-control sector.

Can dirty transactions be washed and pruned so that the exact history is lost?

Thanks, cbeast! I would imagine that multi-signature transactions will be available soon. Combine that with Eto's sweeping function in Armory, and the mind reels!

Yay! It's Next Week! Oh wait, it's now this week. So last week was this week then, but now this week will be last week next week. So which next week will be coming?