Man, things would have been so much simpler if Ukraine overthrew its dictator, Russia did NOT put out propaganda about  the new almost powerless government being fascist, and those who did actually want to leave simply voted to and did it, instead of having Russian troops invade Ukraine and start a huge fight. If those oblasts wanted to break off, I doubt Ukraine government would have protested much, since they didn't have the power or interest in it, but are now forced to fight because Russia started a war.

One of the most popular Android wallets, Mycelium, is almost done implementing HD wallets that will use a different address for every transaction. After that it will implement Tor as the only method or sending money, and after that CoinJoin as default anonymization method. People will be using a popular wallet with full anonymity by default, without even knowing about it.

They will get fat from lethargy, and die young of heart complications, or suicides from boredom and depression due to feeling useless. Plus lazy fat people who have no drive or interest in anything are not sexy at all, so they probably will not procreate either.

That's a forest fire...

Anyone who says "I don't think bitcoin will replace fiat in our lifetimes" is quite literally saying "I don't think USD will collapse in our lifetime." I'm not 100% convinced it will, but I'm not sure USD can handle another 97% drop in value, with the debt it's based on going up from $15trillion to $150trillion, if it continues to rise at the same rate it has for the last many decades. There just isn't enough wealth in the world to keep it going like that. Then the only question is what happens when US is suddenly forced to stop borrowing to support its USD...

It's really just a simple waiting game. There is a strong need for a world reserve currency (currently filled by USD, and somewhat my EUR). Fiat currencies have a 100% failure rate, and an average life expectancy of 27 years. Even USD we use today is only about 45 years old, since it switched from being a gold-backed currency to free floating fiat in 1971. So as long as you believe that bitcoin, being an open-source free-to-innovate platform, can continue to exist and be innovated on top of, it should simply outlast all other fiat currencies one by one, with the countries of those failed currencies adopting both bitcoin and the last world reserve currency. If USD collapses within a few short years, with bitcoin adoption still being low those countries will adopt both bitcoin and EUR. If USD lasts for a few more decades, most countries will probably end up using USD and BTC already, and will switch exclusively to BTC as soon as USD dies. At that point, BTC will have completely replaced all fiat.

There's also the black hole fiat collapse scenario, where if bitcoin gains about 50% of world-wide adoption, where it will not make a difference for a merchant or person whether he receives USD or BTC, at that point BTC's technological advantages over USD will kick in full force, people will start preferring BTC, and as a result, the balance of use will tip greatly in BTC's favor. This also means that with more and more people choosing to take BTC, BTC adoption and price will suddenly skyrocket, people will start dumping dollars to switch to BTC, which will make BTC price go up even faster, which will cause more people to switch, over and over in a self feeding cycle, with BTC literally sucking out all the wealth from the USD in a very short period of time. The 50% adoption rate is the "event horizon" in this black hole scenario, and if this happens, it will happen VERY suddenly and VERY quickly, likely causing a whole lot of damage to people too slow to keep up in the process.



As Andreas says, Bitcoin's political cause is neutrality, while the world's political cause is SEVERELY skewed to the side. So, in that kind of a world, just being neutral seems like being politically radical. Kind of like just being neutral to everyone and treating everyone equally was a radical political stance at a time when some people were slaves.

Who's this Dmitry character   <.<   >.>

I moved my savings into bitcoin about same time as Rick, and moved my checking into it in June of last year. I've been using Bitcoin as my main money for over a year now, mostly relying on Gyft and Purse.io



Why thanks! Glad I look younger (no, I'm nowhere near any of those ages)

This is actually pretty standard (smart) advice. You want to have a risky investment when you are young, and move to a safer investment as you get closer to retirement.



What about US tax revenue reaching a point where it can't cover US interest on debt, at which point US has to either cut billions of dollars of spending instantly, or drastically increase inflation, which will increase interest on debt, which will increase the amount they have to inflate, over and over?



A 51% attack can't destroy bitcoin. In a catastrophic worst case scenario, it could make it stop working for a day or two until the attacker is neutralized. It will tank the price temporarily, but will retain all of its other functionality, and will just increase trust even more by demonstrating that it can survive.


Armory detects if your bitcoind doesn't have the blockchain, and downloads it over torrent for you automatically. Takes about an hour.


Only MINERS will move to alternative cryptos. Not users, businesses, or developers. Besides, who cares about miners? People can't print USD at home, and don't avoid it because only a handful of people are able to print it.

Impossible. Humans will always find something to do, even if it doesn't pay them anything more than recognition for something they did.

That implies everyone is of a parasite mentality. Some people keep working even after they retire, or after they become millionaires and have no reason to keep working to earn a living.

Was that story about me, or Rick Falkvinge?

Our Indiegogo campaign is over, and here are the stats (combined IndieGogo and Bitcoin contributions)

Total amount raised: $32,156

Total # of units ordered: 700

Total # of t-shirts ordered: 220

Thank you VERY much for your help! Most of the orders came from big obvious places, like USA, UK, Europe, Canada, and Australia, but we've even had orders from as far as Chile, Korea, Turkey, and UAE. Bitcoin is truly global This amount should help us cover most of the costs of ordering  the first mass production run of these devices, which we should be placing some time this week (we'll have a final meeting to finalize things either tomorrow or Wednesday). We plan to order a few thousand units (with funds raised from you, and our own funds), since we already had a few requests from merchants to carry these as well, so there shouldn't be any issues with ordering these as soon as we finish shipping the initial Indiegogo ones. The remaining steps, which will be done at the same time the devices are being made, are:

• Add Litecoin support as an easily configurable setting on the device (Thanks for helping us reach the stretch goal Litecoiners!).
• Finalize software support for creating HD wallet seeds (hopefully just in time for the release of HD wallets in our Android wallet).
• Design packaging materials, such as boxes, inserts with instructions/warnings, etc. We will probably keep these somewhat plain though (we're going for security at lowest price, not flashiness).
• Set up distribution accounts with Amazon in USA, Europe, and Asia, since we'll be using them to fulfill most of the orders.
• Design the t-shirts.
• And, of course, publish the finalized source code and hardware schematics for these devices. In case some software security issues are found, we should have plenty of time to get them fixed before we ship.

Speaking of the t-shirts, we'd like some feedback from you. Do you guys want t-shirts that mention Mycelium Entropy, ones that just mention Mycelium, or ones that just have our logo, but don't specifically advertise the company, with just text that, for example, says "Ad-hoc Economy" on them, so that if you are asked about it you can talk about either Mycelium, or just bitcoin?

Even though Indiegogo contributions are over, we'll leave the BitPay links up for anyone who still wants to order one, and, of course, for anyone who still wants a t-shirt.

Same people who decide the correlation between bitcoins and dollars: traders on the market. Someone will say I will pay $ to get this cool thing first, and someone else will say they'll pay $+1.

Our Indiegogo campaign is over, and here are the stats (combined IndieGogo and Bitcoin contributions)

Total amount raised: $32,156

Total # of units ordered: 700

Total # of t-shirts ordered: 220

Thank you VERY much for your help! Most of the orders came from big obvious places, like USA, UK, Europe, Canada, and Australia, but we've even had orders from as far as Chile, Korea, Turkey, and UAE. Bitcoin is truly global This amount should help us cover most of the costs of ordering  the first mass production run of these devices, which we should be placing some time this week (we'll have a final meeting to finalize things either tomorrow or Wednesday). We plan to order a few thousand units (with funds raised from you, and our own funds), since we already had a few requests from merchants to carry these as well, so there shouldn't be any issues with ordering these as soon as we finish shipping the initial Indiegogo ones. The remaining steps, which will be done at the same time the devices are being made, are:

• Add Litecoin support as an easily configurable setting on the device (Thanks for helping us reach the stretch goal Litecoiners!).
• Finalize software support for creating HD wallet seeds (hopefully just in time for the release of HD wallets in our Android wallet).
• Design packaging materials, such as boxes, inserts with instructions/warnings, etc. We will probably keep these somewhat plain though (we're going for security at lowest price, not flashiness).
• Set up distribution accounts with Amazon in USA, Europe, and Asia, since we'll be using them to fulfill most of the orders.
• Design the t-shirts.
• And, of course, publish the finalized source code and hardware schematics for these devices. In case some software security issues are found, we should have plenty of time to get them fixed before we ship.

Speaking of the t-shirts, we'd like some feedback from you. Do you guys want t-shirts that mention Mycelium Entropy, ones that just mention Mycelium, or ones that just have our logo, but don't specifically advertise the company, with just text that, for example, says "Ad-hoc Economy" on them, so that if you are asked about it you can talk about either Mycelium, or just bitcoin?

Even though Indiegogo contributions are over, we'll leave the BitPay links up for anyone who still wants to order one, and, of course, for anyone who still wants a t-shirt.

Hey, thanks to this thread, I now know that Alex Johnes is anti-vaccine, so now I know that he's an even bigger moron than I thought he was. Guess this thread is educational after all.

Articles like these are very dishonest, because they don't take into account that bitcoin is a brand new technology just starting to be dispersed. A month after Bitcoin launched, only about 3 or 4 people owned it in total, with one of them owning almost all of it. Since Bitcoin isn't a central bank type system (where a privileged few keep making money for themselves), or a proof of stake system (where money gets concentrated to whoever has most of it by default), it's expected that bitcoin will keep getting dispersed among more and more people. Those who have a lot of it will keep spending it, and the only ones who will get more and more of it will be those who actually work to earn it.

Then it would be no different from any other altcoin, except with an obvious pump-and-dump backing, and severe lack of developers (all the best cryptocoin devs are working on bitcoin)

OK, so they spend a bunch of money to create a currency that they control. Then they put it up on an exchange, that they also control, and as people trade it, start buying MASSIVE amounts for billions of dollars, to pump up the price to Bitcoins level. But, all they really did is create another PalPal, with a floating exchange rate, while having none of the benefits offered by Bitcoin, since their currency is not decentralized, not anonymous, not politically neutral,  is entirely backed by their company (as opposed to not depending on engine), and completely closed off to development and innovation. As soon as they stop dumbing billions of their own dollars to pump it, that currency will crash back down to almost nothing, as people exit back to the only currency that actually has the features they were looking for in the first place.

This whole exercise would be as if Microsoft were to make their own Linux, pump it by PAYING you touy it, but leave everything that makes Linux competitive out of Linux (bad security, closed source, etc.).

The problem is that they don't talk to each other, don't coordinate with each other, and don't even trust each other. If one of them sells, the others have no way of knowing if he's trying to crash the market, or just buying another Lamborghini.

Fuck it, let's just have a party every time it crosses $500!