Would you like to place a bet on this?


I will randomly take the side of $1 billion cap...

Ahh, I see that now...Last Price: $89.75  High: $89.499999999999999999

Did you mention it before, as in the future?

If so we have not seen that post yet.

What do I have for breakfast tomorrow? Do I get sick? Should I have something else?

It is the only currency my company currently pays.

And it is not like the miners are getting paid $324k per day. That would be like saying that a new tech company was paying a million dollars a month to their workers when they are really only paying reasonable salaries along with stock options. Miners are basically being paid stock options. The money traded on the exchanges makes up a fraction of the Bitcoin economy. If everyone were to try to sell their Bitcoins today, we would see nowhere close to $1 billion shelled out.

You are probably right. I just took an old number I found when the reward was 50 and halved it.

Please do not invest in Bitcoin. I still have more money to put in and would rather the price stay low while I do so.

When it comes time to move into Bitcoin when it is necessary or much more convenient/cost efficient, you will at least have some understanding of how it works.

Enjoy the fiat.

The international transfers I saw on WU's website showed a 3 day transfer unless you do it all online.

This, I believe, is what people seem to be missing. Dump her because she's a lawyer.

And..


redundancy is redundant

Bitcoin is currently in inflationary mode.

The current inflation rate of Bitcoin is around 17%, far beyond what the dollar's inflation is.

And yet it is attacked for its "deflation".

Keynesians should be loving Bitcoin right now.

If nobody new were buying bitcoins, you would be losing 17% of your wealth by keeping your funds in bitcoins.

But new people are buying...at a rate faster than inflation.

Bitcoin was a major source of contention between myself and my late wife. I bought in July, 2011 at around $14/BTC. I cashed out $10k from one of my IRAs, I saw the potential in Bitcoin and knew it would be big. I traded a bit at MtGox as it went down and got up to 800BTC. Then I got on Bitcoinica as the price dropped a lot and desperate to get my money back I did a lot of shorting and a lot of losing bitcoins. I pulled everything out of there as it appeared that manipulation was a bit too precise in taking my BTC away. I had about 250 BTC left. I pretty much had to tell my wife that the whole Bitcoin thing was a wash and that there was no money there. I was constantly reminded that I "threw away 10 thousand dollars on your stupid Bitcoins".

Finally last October we were buying a house and needed $5,000 toward the down payment. Bitcoin was at about $11/BTC around then. We were scraping what we could get for the $5,000. I borrowed $2,500 from my brother and finally broke down and cashed out the rest of my bitcoins for the rest.

Losing a loved one you play a lot of "what if"s. Had Bitcoin jumped like this last year instead of this year I likely would not have had to go to Afghanistan to get out of our financial problems and I could have been home with my wife...

But anything can happen in life.

She used to also complain about my time wasted supporting Ron Paul. Even though she supported him too, she knew that any action supporting him was a waste of time because they would never let him win.

Would there be a way to branch off a local currency backed by the contents of a single address?

Imagine there were 100 BTC in a single BTC address. Then this community that is on an island in middle of nowhere uses this address as their currency but runs their own mining software and exchanges coins back and forth between each other spawned from this single address.

Then, if ever necessary, they could all put their money back into the one address and use it as BTC.

I have no idea how something like that would work, I am just thinking of how it would work if a small community shut off from the rest of the world would be able to exchange their own local currency while still being technologically tied to Bitcoin.

Ya, I think anyone can come up with a symbol and because we all as humans use objects we are familiar with to create new images we are bound to get things that come from somewhere else.


I am working on a symbol for my site. I will post my reasoning here before I create it so that if someone sees a similarity between it and some ancient pagan symbol of tyranny, they will know where its shapes spawned from.

The symbol will be a circle (why a circle? so that if I need to hand something out at trade shows, it will fit on a neat round coin...kinda like military units hand out)

At the center of the circle will be something like an explosion...like the start of a chain reaction the the beginning of a star being formed.

Around that will be a bunch of arrows pointing inward toward that explosion. Basically each arrow represents an individual coming together to create something big.

I will try to get the name of the website in there too...I have not figured that out yet.

And I am no artist so I will likely hire someone to do the design for me. They will likely use some experience from art school or somewhere else that has traditions going back centuries.

So if it turns out looking like the star of Ra the sun king or something from the Davinci code revealing that Jesus is still alive with Elvis...then that is on you to run wild with.

I see Bitcoin as a commodity IPO.

Think of Gold as Microsoft and Bitcoin as Google in the late 90s.  Whereas Microsoft has pretty much reached its investment plateau and will rise and fall with technology changes, early Google was still small and had a lot of room to grow. Now Google and Microsoft are more closely coupled as far as tech companies go.


Bitcoin and gold will rise and fall as a commodity based upon world events and the devaluation of fiat currencies. But Bitcoin is still relatively unknown and has a lot of technology going into it to make it better. On that side of it, the price grows rapidly as would an early tech stock.

Once Bitcoin has the reach and availability that gold currently has, it will more closely rise and fall with respect to fiat's fall and rise.

But they will always have their own gains and losses based upon specific aspects of their own technology. A new gold mine discovered, a fad of wearing more gold in one country, adoption as a currency, etc. While Bitcoin could have major wallets hacked, exchanges regulated, mining hardware changes.

Gold is not always coupled with silver for the very reason that they are two different metals with different uses and mines. But to the extent that they react to the fiat currencies, they should have similar reactions.

The Federal Reserve is currently pumping $1 billion into the Federal Reserve Note per day. Is this a reasonable amount?

Moral of the story...the government can come after your dollars. Bitcoin is still untouched.

Stay out of fiat if you can.

$500 -> Dwolla: $.25
$500 Dwolla -> MtGox: $.25
$500 MtGox -> X BTC: $2.75
XBTC -> International recipient XBTC: less than a penny
XBTC -> MtGox $500: $2.75
$500 MtGox -> Dwolla: $.25
Dwolla -> $500: $.25

Total cost: $6.50
ATM fee if withdrawing cash: $2.00 (if not using your bank ATM)
New Total: $8.50 (if not using your own bank ATM)

And that is international transfer, and the recipient can cash out in their own currency and not pay extra for currency exchange. And a bigger bonus...they could just keep it in Bitcoins and spend it.

Big difference there

$10* fee sends up to $500!!!


*within the US

I will be defaulting to BTM (or mBTC) when I get my website up and running.

It will be easier to say a user has 100 BTM instead of .1 BTC.