mining itself only "sounds" real, but most people will then ask what exactly are you mining, and you inevitably will speak with some geeky words which people just cannot understand.

But if you tell people that we are auditing the transactions, people will think that they already get it. In fact, the miners ARE AUDITING the transaction and get paid for the contribution.

We can still use the metaphor of mining in our daily life, just as the notebook/laptop/, or cell phone/mobile phone. But we should promote the auditor/auditing conception in the public.

Does the core developing team has any agreements or disagreements?





 

Maybe "miner" is bad name for the promotion of the bitcoin

People are questioning that what are you mining for? a string of numbers? And you get money from the thin air?

The "miners" are bookkeeping and verifying the bitcoin transactions. and the coins generated is the reward for their work. "Auditing" is kind of contribution that will make people believe that the miners are doing useful job. By metaphor in "mining", people will get confused.

I guess Satoshi use "mining" is to promote the bitcoin conception among the early adopters to get involved, but now we need get people trust that the coins spread to the miners are really worth it.

it's not easy.

在中国，用美元购买真实商品都是有潜在的法律问题的，如果商品的销售者是法人，或者美元交易的数额比较大的话。但实际上也没人管。按理说，淘宝上是不应该销售Q币的，Q币也不应该在市面上有流通渠道，人民银行专门出过规定的来规范虚拟货币的。

但是这些都没人来管的。

中国经济这么大，总量是30多万亿人民币的GDP，全国财富总量是数百万亿，一个全球规模不到亿元的东西，没人来管。

我觉得bitcoin起码要升值100-1000倍以上，其规模才可足以引起各国政府的高度重视。

You should not use GDP, but M2 or M1.

Please let me know if there is some forex that has a limited supply with a set up number and global acceptance.

So I trade again, buy in a little.
What have you done in the last weekend?


http://bitcoincharts.com/charts/mtgoxUSD#rg90zvzlztgSza1gWMAzm1g7za2gWMAzm2g28zxzi4gAccDist

it was not.

We need a Pokerstar-level online gambling service accepts and only accepts bitcoin. I just think it's quite possible. the online gambling service needs licences, and some country don't allow their people to gamble. Accept bitcoin and accept potential customers.

Are you sure?

thanks for your suggestion. I just bought some around 13.0, though not lowest point, but low enough.

I can not find a NICE place to gamble. Don't tell me about betco.in or something, they're fantastic considering that they are just part-time job by some bitcoin enthusiasts. It cannot satisfy my need as gambler who used to played really nice online  gambling games. Of course, other games like bitcoin pyramid is totally a joke.

So, it's still the basic problem with bitcoin: so little product and service. Even gambling game.

However, Do you think the no-good-gambling-service will last long? No, I don't think it will last long. If you see a good gambling site accept bitcoin and the chip just priced in bitcoin but not USD, you can just buy in large amount of bitcoin before gamblers buying.

but some idiot just did not understand what I mean, or so naive to believe that the big holders won't do this because some reasons. Some evil guys were scaring people that if you don't buy now you will miss the train forever.

Now just see the 6000 bitcoins which were sold in a flash. Every one knows that the USD inflow is weak in weekends, but the holder just chose to do this. It's his freedom, he want to cause panic for him buying back lower or he just want to cash out at this price and to prove that he is smart to leave at this price and everyone else is idiot, or the 13.5 bid wall and the big seller was just the same trader. who knows? but it's not smart for you to believe that he wouldn't do this. If some one follow my suggestion, they at least have the choice to buy at 13.5, 1$ lower than days ago.

So, if you still have USD prepared to invest in bitcoin, patience is still my suggestion. Just buy a little at first, then another trade at the other day when it crashes. Never all-in at a single trade.

And panic is not good for you right now. Panic is the method to keep us human being safe in the jungle at ancient age. It's not the method to protect us in modern financial market, but calmness, patience and insight into long-term. the market maybe even lower, but sell at this price is not a good choice, too. If you have bitcoins, just hold it. If you have USD, just hold it and buy in bitcoins with patience. never do panic buying and selling.

I guess this is still a 1-step authentication method to protect people's money from stealing.
Maybe jav should add some username and password system to make it both safe and convenient.

The browsers do record the history, and lots of users do share their computers with other people

I suggest a "Groupon" model. Ask a local vendor provide some discount for the bitcoiners. For example, a cup of coffee was sold 5 dollars, and if someone can pay 0.05 bitcoins to the store, he can buy the coffee at 4 dollars. If we can convince to the vendors that the number of bitcoin adopters is huge enough, then they will accept the offer just like the accept the offer from Groupon.

The point is:

It's easier to persuade a vendor to accept bitcoin as only a part of the payment at first.
They will just think that since my gross profit a this deal is 2 dollars, it's absolutely OK for me to take 4 dollars in my pocket and just put only 1 dollars in risk and get some new customers to enjoy my product, why not?

When they get familiar with bitcoin, they will more likely to adopt bitcoin as a full payment method, just like VISA.

In the long-term, I bet strongly there will be a huge rally for the bitcoin. The problem is that the bitcoin is not still a 1 million market cap. game with thousands of geeky persons involved, it's already a 100 million market cap. game with tens of thousands of person involved. the price have rise too fast to be sunstainable at such a rate.

The distribution among  the early adopters of bitcoin is high in the extent of inequality. I don't see this is some moral problem, but only a trading problem. for some adopters, there assets has appreciated for 3000 fold now. so, some of them has showed the signs of willing of selling some of the bitcoin they have. First, they are human beings and have/want to have some fiat money for daily use nowadays;  Second, even they sold 10k bitcoins, considering the number of bitcoin they have and the potential of bitcoin, it will not hurt them much to sell at the right stage. I guess the total number of those big holders want to sell now is around 10k - 100k.

and lots of the new adopters in the last two months, lots of them are weak believers, they were somehow scared by the market volatility. they don't have true believe in the bitcoin. It's time consuming to have them lost patient and hope to sell the bitcoin.

the major wave of media penetration has past. the speed of growth of new adopters are somehow slow down compared with last two month, until several critical improvement in the infrastructure of the bitcoin payment system.

For these pressures, the bitcoin market won't see a major rally in the coming days or weeks. So I think the best strategy is to suggest your friend to have a total investment number in mind, and invest the money in a dollar averaging manner. Suppose that your friend want invest in $ 2000, they just divide them into $200, and buy in bitcoin for ten times. every purchase should be made when an adjustment happened, like what we recently see from 15.5 to 14.

When the doubters out, some improvement of the payment system made, a new stage of rally begins.

A solid bottom need every doubter sell out there asset, no matter the asset is bitcoin or stock. The sign of the doubter-out is that the trading volume is extremely low.

The volume is pretty low today, but not low enough compared with some days months ago. Such kind of cold lonely boring market should be last longer, and hopefully more small crashes happen, which will consolidate the bottom of the next rally, and give patient traders nice price to open their long positions.

And some early adopters have large bitcoin hold in hand, I speculate that they already want to USD out a lot of them. I guess, these bitcoin must up to 10k -100k.  If the market is too excited and give them the chance to leave the game with high price, the buy power of the people or momentum will exhaust too soon, then I just won't participate in next rally move, and I will start to sold the bitcoins step by step. If this boring flat market is long enough, The big sellers will lost their patient and hope, and will possibly start to sell, at a low price, which is caused by themselves. In this case, the bottom of the market will be even stronger, when next rally begins, I will hold my bitcoin with firm hands.

 If the market just start rally from now, I will speculate that lots of doubters still with bitcoins in hand, the rally just won't last long and high, so I will sell lots of (not all, of course) the bitcoin step by step.

---
Only speculative opinions.
I have both bitcoins and USD. Make decision by yourselves.

with or without trends.

I said the bitcoin will have lots of volatility in the comming days or weeks, and you say you want to bet with me that the bitcoin will have a higher price in a year from now.
You didn't pass your reading and logic test in high school, did you?