I think the best approach is rather than telling them about the technology behind, it would be better for them to discover it themselves. I'm sure most of us here have no idea about it in initially, I mean non-geeks, and once you find out how simple it is to use to transfer bitcoin to another party, naturally you will want to discover more information how the decentralization concept works and how bitcoin cannot be controlled by anybody.

I can't believe there are endless number of threads about people asking the question on when btc boom will ever occur again. My take is that, just wait and be patient. If you are convinced it will be big some day, then that is all you need. Trust yourself more than anything else and it's better than trusting the words that you hear from others.

I use google authenticator since you can never go wrong trusting a big technology-invested corporation like them. The next best thing apart from GA is perhaps Authy since they also have the option to sync tokens on multiple devices together and it comes especially useful for people like me who uses tablets, pc and my mobile depending on my mood and location. 

Depends on how you perceive it to be different. If you look back at past history and trying to relate it negatively, yeah you could spot some similarities but at the same time, you will also find bitcoin has since moved ahead in several areas such as having higher number of bitcoin startups, there are now more businesses accepting bitcoin, the hash rate has gone up considerable and that is a stark difference compared to where it was in 2013. So again, that falls back to you.   

Great! At least somebody saw its potential especially on how transacting with btc will actually help to save on the fees. If the bill is passed, it will only mean more people starting to accept bitcoin as a form of payment currency. Hope to see more bullish signs coming ahead.

Spend it! There is so many things you can do like trading or even investment or just buying your favorite items. If you don't want to take any risk, then just keep it tight in your cold wallet. The only thing you will need to worry about is the security and how to manage it.

While it sounds like a great idea, few questions lingers in mind. Who is going to control the amount of coin generated and to ensure that it will always have enough gold to back the crypto money in circulation? If that is the case, then there will be a need for central authority, so the question next is  what is going to happen to the decentralization part.


Even that was highlighted in the article itself. Well, let's just see how it goes.

I think far bigger implication would be to use bitcoin as the official in-game currency. I don't know how that would work out but I can imagine since second life tends to copy exact real life situation, the developer can actually consider allowing the avatar to actually contribute hash rate and perform mining like in real life. The coins can then be traded or in a way or another, the players are allowed to transfer bitcoin to their avatar to be used as a normal currency to purchase in-game items.

There is always a way to save and it all depends on how one does it. And the worst thing is that after having saved some money, people tend to leave it in accounts or placing it in fixed deposit which eventually earns negative returns. Investment is the way to go and the best investment is still in yourself upgrading your knowledge and education level. 

Remember when we have dollar backed by gold and suddenly the gold standard were removed and somehow people still perceive it as being valuable and the value continued to climb. Well that was fiat and I can imagine for bitcoin, it will be much better. Never mind about it's true worth, it's just a matter of what people perceive that is important that will dictate the numbers assigned to it.

  Everything right on the part that relates to definition of value, except a bit of doubt there on the monkey analogy. If only I could ask the monkey that question, perhaps if he could understand me or maybe if they monkey can think rational, he would rather have the whole warehouse of gold bullion and use that to buy acres of banana farm

Hmm...I believe he's always amongst us, trying not to reveal but at the same time to continue developing the coin. Maybe for satoshi, it's better this way so that he could avoid all the attention.

With that size of funding maybe you can consider setting up a bitcoin exchanger site or a crypto currency trading platform. On top of that you could offer remittance services particularly in locations where there is a lot of foreign labor who has a need to send money abroad back to their home country. Or it could involve purely in crypto trading where right now the standard trading fee is something like 0.5%. You could get an experienced software developer to develop your own trading api platform and then hire people for the marketing part to promote your services. The most challenging part is perhaps how to maintain security to the wallets. You will need people with a lot of technical know how to guide you through on that.

I'm the one that says it's a bad thing. If it is heavily traded it can only ended up like a commodity because no way business are going to live with such high volatility even if you have a payment processor that handles the conversion for them. I don't know, when I discuss this among my fellow group of bitcoiners, most of them welcome the move as they think it will be good overall as bitcoin badly needs fresh funds and exposure but for me, I see more disadvantages surrounding it.

Even if you manage to get all the electricity for free, you have to think about setting up and then maintaining the mining equipment. So ask yourself, you are there just for the money or purely for fun or for educational purpose. If it's the latter then by all means go for it.

Oh come on, even if there's a windfall of money enough for retirement, one could still use it earn back even more. Look at some of the richest billionaires, you haven't really seen any of them retiring just yet. What I'm trying to say here is that using you retirement fund you could travel around the world in a first class airline seat but given the choice, would you rather take a private jet, going around the world which would be even more better?

If it is a descending triangle pattern, there should be an almost flat line formed by the support level just by plotting it using all the low points, so I don't it's the case. Right now it looks more like a falling wedge going on a downtrend pattern. But as I always believe, technical analysis always ends up telling you one thing and the next, it just suddenly change. So don't bank on it all the time.

I think it's probably too soon that they decided to end it. At least they should consider adding on to another year. Viewers tend to forget easily and I wonder did anybody actually comes up with a figure on what the impact of the sponsorship and the benefit it brings for that amount of money put in.

Choosing a little bit of everything. That is what we call diversification. I hope fiat will be completely replaced someday but till then, I still need to depend on it. Also apart from bitcoin, I'm also going for precious metal and mutual funds, that way at least if the economic situation turns bad, you've got yourself covered. 

No it won't. Whichever currency you decide to adopt, there will always be imbalances in terms of economic distribution of wealth. What bitcoin actually solves is ensuring that what you own is exactly what you own and the value doesn't get diluted because there are newly printed money coming into circulation.