I like your username and welcome to the club ^_^
Since April 2014 anyways if you can resist the urge until your in the green then you will be richer later at least we can hope

And yah the average buy is getting higher now.

Your welcome for me the ten points were what stood out most in their working paper in that Bitcoin was able to solve all these problems at one time.

1) Proof of Ownership (Obsoletes Notaries)
2) Dispute Resolution (Obsoletes Mediators)
3) Record Auditing (Obsoletes Accountants)
4) Smart Property (Obsoletes the Police)
5) Decentralized Stock Exchange (Obsoletes Centralized Stock Exchanges)
6) Highly Efficient Transfer of Assets (Obsoletes Banks, Debit Cards, Money Transmitters)
7) Full Control over one's own assets (Obsoletes Central Banks, Regulators of not only banks but other parts of the financial sector as well)
8 ) Conditional Transfer of Assets (Obsoletes Lawyers)
9) No Inflation
10) No Business Cycle

Point 6 applies to your paper in that the Highly Efficient Transfer of Assets applied through an economic lens can also be looked at from an environmental perspective.

The scale of energy usage between a typical fiat based payment system such as the SWIFT per country and a bitcoin based one such as 37coins using SMS and Android phones seemed like a neat tangent.
Simply put a low energy phone vs payment orders over the SWIFT Financial Network.

From your analysis you had lifecycle data and I was able to get a rough analysis of energy usage and environmental impact of Bitcoin versus Mining Gold or the current Fiat Payment system in aggregate.

If you were curious on the types of energy used to produce that electricity and want to update those numbers from approximates it would probably help to look at Daniel Yergin The Quest and Vaclav Smil Energy at the Crossroads Global Perspectives and Uncertainties to see the energy linkages to energy type whether coal, natural gas, oil, nuclear or intermittency based energy like Solar and Wind power.

It's a good read for energy analysts

http://www.bitcoinmicrofinance.org/37-coins-send-bitcoin-with-a-text/
http://howtoexportimport.com/Difference-between-Swift-and-wire-transfer--434.aspx

Its kind of a small case area to evaluate, but it has a big impact in terms of financial transactions and energy usage.

Just a blurb, and thanks for sharing and I look forward to your 2nd edition when it is completed.

Three years ago I was thinking about the ideas around the financial system but had not yet heard of Bitcoin
If I had I probably would have bought some or start using it.
That said at 4 million difficulty I remember the days before it was up to billions.

I gave it a read and analysis and it is interesting
Oddly enough I can see this combined with a working paper I was reading as well that you may be interested in.
Combining economic theorem with environmental benefits.

From the charts I was able to assume a ratio scale and although the data had several presumptions I feel like it is accurate in its calculation.
Anyways thanks for sharing your work and I'm sure it will find utility in the community

Sent you a Mbtc as a token 

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2436823

Same sentiment, I like the summary page but thanks for sharing this looks like an interesting read.
Quite the big difference compared to the cost of mining versus all the services we use now.

Bitcoin is reliable in that at whatever exchange rate you trade it for you can still purchase goods and services with it, the movement of the asset price between say $650 dollars at 6:06 and $666 dollars at 7:06 is the purchasing power difference.
That said it is still reliable the amount you can get and the exchange rate for goods and services vary a bit but it is fairly constant if used right after purchasing that or you hold it.

Still a decent or good investment.

Secondary link
http://www.coindesk.com/professor-susan-athey-people-use-bitcoin-intrinsic-value/

Well it is all relative the question is if the OP's uncle should get a bitcoin and I say yes.
The relative return % wise can beat a GIC or Bond at the least and even most risky stocks if you treat it as an investment.
If you treat it as a currency instrument or property it still retains a value that remains static.
1 BTC = 1 BTC what you can exchange it for is the exchange/investment risk.

Yes

1 Bitcoin is a good investment in the long run since people can still afford to buy a whole Bitcoin.
In a few years it is very possible that we will be dealing in microbitcoin transactions instead of whole Bitcoins or even 1/100 of a single Bitcoin.

These type of investments are great if you have the duration to wait on the market if not their is still a good possibility of seeing $1000 to $2000 USD this year if the sentiment remains positive and more merchants adopt the technology with the big names such as overstock and dish network using it recently and an increasing merchant retail and online presence.
I strongly say yes buy a Bitcoin now and see what happens, be different things need to change and now make Bitcoin an investment.

Would it be a reasonable argument to say that a negative interest rate means that the money supply is decreasing.

I presume at a rate proportional to units of currency printed.
Or would the inflationary effects on the Euro take over because of the increased risk banks need to take by having investment into businesses and companies and their bond instruments instead.

Hard to tell right now two scenarios for me are a period of deflation which isn't necessarily awful as goods and services get repriced at a lower rate and the strength of the currency increases and a period business of slow business growth followed by rapid business growth as the money stabilizes.

Or a period of high risk business creation and a market of loaning to bolster economic growth, followed by an economic crisis in some countries in the Eurozone and then a boost to the economies of other countries in exchange as they try to optimize against one another by offering the best deals for investment.

Thoughts?

@Although 0% Loans for 12 Million Bitcoins XD (Cant got to infinite )

Similar sentiment here any price under $1000 is still a reasonable price to me as in pre next bull market
That said I got some at the price you mentioned but then it went to 450 to 430 and made me go U_U
Plus the time it takes for money to move from bank to exchange to Bitcoin takes a while but when its in Bitcoin its done
So it is all relative to me

When the world and all its communications and harddrive backups are destroyed or there are no humans left to utilize the system

Or I guess around 2050 if the protocol and security functions in the crytography are obsoleted and the developers branch off the old Bitcoin Clients into a new Bitcoin branch and leave the original chain abandoned causing this market to dry up to 0.

Kind of like having Test Bitcoin Networks only it would be subsumed.

That actually would be kind of fun if you had a ton of Bitcoins
Market wants to go to 700 to 800 dollars
One remaining whale saying No your staying at the market price 666.66 till I say when
That said (if that was the escape position)
I Would have put the wall at 777.77 then look if its a casino thread or a delivery thread 

That is why they probably used the low value altcoins that no one would mind sending a 10000 doge tip for or something
Not sure how many coins I would get in exchange for the other alt coins but I am sure it would be a fairly large amount.
Still if they don't touch those coins it would be nice to see Bitcoin added as well some point in the future maybe as a means of exchange to the other tip coins.

This looks like a fun game to compete and learn about trading different pairs of cryptocurrencies
I'll sign up and give this a shot as well thanks for the offering.
Kind of like a stock game 

I guess it is easier to tip someone in a low value altcoin than it is to use a main coin like Bitcoin
That said or they are trying to avoid any controversy with facebook and bitcoin by going with the less popular coins instead.
Still worth noting in my opinion.

It cannot be outdone and that is a nice sum of money that just moved
Wonder what the occasion is sometimes large amounts move before something big happens

The real question is that the software to hide and increase your privacy is there but people are unaware of its existence
One way to address it is to get the information out but keep the security strong
As the more people that use it the higher the probability someone will try to code a backdoor etc.

Anyways here is a series of software for the average joe +- a few tech levels lol.
https://prism-break.org/en/

Now that is one of the hardest coding jobs I could think of
Akin to having a smart AI that can detect lexicon patterns and then filter them into common remarks and sayings then take the variants of those sayings to create an algorithm that detects the probability of any set of parameters being met to detect sarcasm
Within the context of a long conversation increasing the error rate.

I guess it could be done but efficiently from A to B might take merging a few technologies
We do have Intel's Watson system so Sarcasm is just a step away.

Congrats on working your way up to becoming one of the new wealthy elite
Anyways 1 BTC is certainty a good start especially from Scratch
To 2 by the end of the year

Well as long as someone in this thread isn't using a 20GB Solid State Drive from a few years ago there is not really a concern of maxing out space
Otherwise I would start considering moving it somewhere else lol.