The actual cost of producing a bitcoin is currently around $90/BTC and climbing as more ASICs hit the market.

https://blockchain.info/stats

Thank you for adding the 420 in your name. It took me a while to realize that FinShaggy's ramblings were just that of a stoner with wild dreams not grounded in reality.

Bitcoin will fail because you want someone to fund your dream of growing organic tofu and nobody is going to give you BTC for $4/BTC. Damn greedy miners.

You do not need $500,000 for a farm to feed 100 people. Start small with a garden in your back yard and create a CSA subscription at http://www.localharvest.org and only take bitcoins for member payments. Upon success, buy a larger lot and continue to grow.

Or sit in your basement getting stoned.

I fully support people's choice to smoke pot, but I do not have to support the insanity that comes with it.

In the dreams of little british boys with tuppence for a bag of bird food.

There should be a limit of only 10 new alt coins per day. Any more than that and the whole alt coin concept becomes rediculous.

qft

Manipulating alt coin prices are easy. Dropping $1k in there is usually enough to move things the way you want.

The fact that people are wanting to mine a currency who's only difference from Bitcoin is an extra 'r' is pretty bad.

Especially a "british" coin, pre-mined with 2 million coins to an American.

lol

Only 2 million coins pre-mined. Everything else is the same as Bitcoin except the additional "r".

Enjoy mining.

http://www.github.com/project/britcoin

These things are going to be worth lots of pounds!

Tell them that your fee will be in bitcoins once you help them learn how to get them.

If I have learned anything from Alex Jones it is that the best way to deal with the Bilderberg group is to stand outside of their meetings with a magaphone and yell at them.

It satisfies those that are upset, enough to think that something has been done and the group inside can feel secure that the crowd outside has been appeased.

I would at least post it on your facebook page.

Personally, I could care less about mass adoption. People will adopt it eventually out of necessity so the longer they stay with their government money, the longer I get to buy bitcoins at a low price.

But I do feel like I should at least post something on my Facebook page for my friends and family telling them that if they want any help in understanding the complexities of bitcoin to hit me up. I already did this with my immediate family and just got the responses of "if I had any money I would buy some but I'm broke". Which is fine. I at least gave them the chance. I told them all about it when the price was $15/BTC and my brother just responded with an article about how some senator wanted to crack down on bitcoin. I reminded them again when it was around $110 and climbing.

Umm, how is that nearing the area above it? The trend line keeps going up and the price is over $100 away from catching up.

Looking at the long term trend from early bitcoin to today would indicate we are just about at the right price being in the low 100s. The bubble action was fun but it appears that we have returned to where we would have been without the spike. Which is healthy.

The lack of volatility will be a self fulfilling prophecy in that we will have less wild swings because the day traders are sidelined at the moment. At least the people who think they are day traders because they got a couple of good gambles while the price was flying all over the place. Volume should go down and we will return to business as usual.

Now people need to focus on creating Bitcoin businesses to make money instead of trying to gamble. Which will help the price in the long run.

A good 5-10% per month rise will be about right. Though as the volume falls, you will be able to see the big money movers come in once in a while and throw things one way or the other on their own terms.

The site in my Sig cannot be done with government currency unless people willingly provide access to their bank account information. And even then it would be clunky.

That is certainly true. Obama is opening the wound wider.

At this point, I believe that is about the best thing we can hope for the US. The quicker the better.

Jesus walked for many years before finding his first apostille.

It appears that they have selected the cruise ship:

http://technode.com/2013/05/23/blueseed-ready-to-charter-a-cruise-ship-to-accommodate-more-than-1000-entrepreneurs/

There have been no candidates in the general election in the past decade that would have done anything about it.

Even if Rand Paul were elected in 2016, I believe it is too late.

By no means is the trouble we are in due to Obama. It was well on its way before Obama was even elected (the financial crisis happening toward the end of Bush's second term).

I do agree though, combining the following:
The unfunded liabilities of the state health insurance system amount to more than $ 38 trillion for the next 75 years.
The state pension system has a funding gap of USD 134 trillion over the next 75 years.
The national debt being $16.7 trillion.

That means that of the 143 million people in the US that pay taxes each year, they are on the hook for over $1.3 million to the government during their lifetime. Just for those 3 alone, not including yearly budgets. That is an average of $28k per year for every working American for their whole working life, not including the taxes to pay that year's budget.

A country such as Costa Rica, however, has a balanced budget law which does not allow them to have any debt. So their citizens are only on the hook for the budget they pass that particular year.

The best the US can hope to do is make the current dollar worth about .001 cents in today's value. That is the only thing that can save them. That is why I can see $10k/BTC in a few years.

Jim Rogers has had some great quotes.

 "A fool and his money are soon elected."
 "Americans will feed anyone that's not close to them."
 "Our foreign policy is an open book—a checkbook."
 "I belong to no organized party, I'm a Democrat."
 "Lettin' the cat out of the bag is a lot easier than puttin' it back in."
 "When the Okies left Oklahoma and moved to California, they raised the average intelligence level in both states."
 "People who fly into a rage always make a bad landing."
 "If there are no dogs in Heaven, then when I die I want to go where they went."
 "The income tax has made more liars out of Americans than golf.

Just wondering if there are any betting sites where your odds get better the higher your bet.

Say a 50:50 game with house edge of 2% for a 1 BTC bet while it is closer to 1% for a 10 BTC bet or .1% for 100 BTC bet.

I only know of SatoshiDICE and do not gamble so this is more research than anything.