Because I didn't put any of the profitable features on the website when pitching my start up.  As a result, these companies have ripped completely shit concepts.  I have learned to do this out of necessity.  When people know you're smart, they will send employees just to follow you around and find out what new concepts you have invented.  This is corruption at its worst.

I was on the StorJ team at the Texas Bitcoin Conference Hackathon.  I already stated that I designed and help implement datacoin, with my specific contributions being the proof of work/storage algorithm.  

On day 2 of the Hackathon, we are clearly going to be awarded $250k and win.  Some guy on the team starts fighting with me because he wants more money for himself.  I end up leaving because he is harassing me and I haven't slept.  

So no you have private investors taking source code from the public domain that was contributed by me, making minor changes, paying for equity and then reselling it to the public.  WTF is that?!

I used to use grooveshark all the time back when the iphone 4 just came out. I havent used it ever since...is the service still pretty good?

Also, Jeff Garzik's Bitpay has recently created a service called BitAuth.  The underlying cryptographic technology was invented by me.  I pitched the concept for a web start up at a bitcoin meet up in March.  Within 3 months the technology had been ripped by Jeff Garzik and implemented on Bitpay.

Within 1 month its war re-ripped from Bitpay and launched as a decentralized project called Block Auth.  

A) The AVERAGE PERSON can use bitcoin. If you can work your creditcard or online banking you will know how to use a blockchain.info app (plus others).
B) There are several easy and sensible ways already. Payment processors protect against market volatlity by giving you the cash staright away for the transaction.

Please provide some real problems.  

Apparently It's available in Greece as well. Bitcoin seems to be there as a payment option indeed.

Very disappointing to see so many uninformed replies in this thread. We should welcome anything that can allow decentralization of exchanges, a fiat or gold backed blockchain is definitively one step in the right direction. The issuer needs to be able to deal with the regulatory challenges and that's no small hurdle to overcome, but if it can be done, this could be amazing.

If given the choice between holding a decentralized but centralized backed currency versus a centralized and centralized backed currency I'd likely go with the former. Imagine if victims of mtgox could trade their goxUSD/goxBTC now? Or what if the holders of gold in e-gold could trade it? Perhaps you don't want to wait for 5 years to get your gold back and rather sell it off to someone who is willing to for a discount?

It's not fully decentralized since you must trust the issuer (and more importantly be aware of the government and their intentions), but it's one step in that direction as you now have full control of the token, while previously it would be stuck in your account on some website. Most importantly you can't run a decentralized exchanges with paypal/bank/pm like you can with a blockchain.

There is another advantage: It minimize the likelihood of failure when the only job of the entity is to secure and distribute the funds, versus also running an exchange and/or payment provider at the same time.

Wasn't someone doing this for gold? I seem to recall that. I'd love to see fully backed gold blockchain. The problem the issuer have is how to be left alone (from government thieves). Is there a place on earth where setting up this will work long-term? Perhaps not, but both e-gold and liberty reserve did last for many years. In 5-10 years bitcoin may very well be so widely accepted that there is no longer a big need for it.

I'm watching this.

i hope bitcoin is here to stay because I am making tons daily now 

I would argue that today, most of the coins that are mined are eventually sold on the market, as electricity costs are high as a percentage of bitcoins mined and miners need to pay their electric bill.

The OP is correct in saying that ~$2 billion in additional capital is needed in order to maintain current prices over the next two years, however much more then that flowed into bitcoin just last year, and hundreds of millions have flowed into bitcoin via VC last and this year.

One thing that the OP forgot to mention is that ~after this 2 year period is over the block subsidy will half again so less bitcoin will be generated ever day/week/year

So you mean the bank in the us now are crashing the price by rumor in order to join the party ?

If the bank want join the party the bitcoin are not enought for them to do loan or watever in need .

I don't really believe OP

But anyway, I have heard multiple times that banks are warming up to bitcoin, could someone explain this to me? or is that just bs and rumors? Why would banks be "bullish" about a technology/currency that would drastically reduce the need for their companies in the longterm? If bitcoin ever went mainstream and was widely adopted, wouldn't banks suffer huge losses and have to heavily downsize?

Maybe they could "implement" it by exchanging for fiat and securely storing it for people who don't want to store it themselves. But this would only speed up their demise, it would make bitcoin more credible and trustworthy, and take away more power from fiat over time(to the point where one of their services-exchanging for fiat, is useless). In addition if it went mainstream, there would be many more startup companies to compete with, who could likely be more innovative and offer cheaper services than a traditional bank is willing to. Banks could still deal in credit, investments, and other financial services though I suppose.

First many banks dismissed bitcoin as a fad, then they realized bitcoin may play a role here, and right now many are in the stages of "researching and looking for opportunities to potentially implement digital currency"etc. I have a feeling many banks are realizing the massive threat that digital currency posses to their companies in the longterm. Do you think digital currencies are going to start seeing a pushback from major banks and probably governments soon? I only say the governments too because of the lobbying and network of connections formed between them.

Also this is kind of unrelated, but if anyone can help me out with another question I would appreciate it. If bitcoin ever did go mainstream, is there any effective way for the government to tax it? I'd imagine this would be a concern and weapon used against bitcoin if there is a large pushback from banks and the govs

You've been suicidal since 2009 because you didn't get in early? Are you suicidal because you didn't win the lottery either? My goodness, stop being overly dramatic about it. You read about it in 2009, you had ever opportunity to get in, but you made a conscious decision to not get any. How is that something to bitch about? You did not support it back then, and did absolutely nothing to help the technology grow. What makes you think you deserve any of the high profits of early adopters? It's always funny to see people use their Hindsight Crystal Ball for investing.

If you want a chance to get lucky like early adopters of btc, there are hundreds of altcoins you can gamble with. Go buy some for dirt cheap right now and hold for several years. You too, can become a millionaire.

Bitcoin is a form of money.

Are you saying it's unfair that people have to actually earn their money by providing some kind of value?
Or, are you saying early adopters shouldn't have been rewarded for their risk in putting their time and energy into an unproven technology and helping Bitcoin get to where it is now?

What are you saying?

Sure we all wish we were adopters in 2009.  Hindsight is always 20x20.
But to say it's "unfair" makes you look like a whiner or a freeloader.

Would it help if I wrote a series of articles about Economics 101 as it applies to Bitcoin?

This. Bitcoin WAS the one in a lifetime get-rich-quick opportunity. I readed about it back in about 2009, I saw it linked to criminal activity so forgot about it. I saw it again years later when the bubble exploded, too fucking late johnny boy. Fuck my luck. It's specially frustrating since I readed about it in fucking 2009. Thanks to it im suicidal since that day. I could have retired my entire fucking family and myself, but no! of course, I had to have bad fucking luck. Now im stuck in this shit hole for life, slaving away for minimum wage and that's if I ever find a job. God fucking sakes. Bitcoin solves shit nothing for the 99.99% of people. What changed pre-post Bitcoin for 99.99% of people? That's right, bout fucking nothing. If I had to point a change, in any case it made me suicidal as fuck. Whenever I talk to someone about Bitcoin, they just don't see the appeal, they think it's too late to invest, to make any life-changing money, at least not without having a shit ton of money required to buy a good amount of BTC by now. Exactly, BTC only changed lives for these that:

1) Were lucky as fuck enough to invest/mine in the early days.
2) Already had a decent amount of money

For the rest it's nothing. The social pyramid is and will be the fucking same, but now the few that had luck to be on the right moment at the right time made a killing and own a big part of the supply, which will continue to stack due being able to buy ASICS, re-invest, and so on. The poor attracts more poor, the money attracts more money. Basic fact. It's specially ironic how a lot of these broke NEET guys that used to complain about how fucked up wealth distribution is, that had the luck to mine shit tons effortlessly or buy a couple thousand BTC to buy some weed in SilkRoad or whatever, found out two years later they are multimillonaires, and then whenever they get approached by a guy on their former position complaining about how fucked up wealth distribution is, say "if you are poor you deserve it, get a job" and help you in your dead end position with shit nothing when 1 BTC means shit nothing to them, while it would mean a world to a person like me because it would mean being able to at least, have a somewhat materializable idea of a business or investment and try to start from a fair position. No matter what greed will always be there, fiat, Bitcoin or who the fuck knows what. The human race is pathetic and ready for extinction.