Greece's current GDP is $241 billion. To bring it down to the bitcoin currency, it would require each Bitcoin to account for $17591 of transactions per year, value each Bitcoin at $1759 or around 55 TIMES ITS VALUE! With the assumption that greeks use the currency and not the world, which is impossible. Greece is undergoing internal devaluation as a consequence of an overvalued currency,it would be fucking stupid to adopt a currency that was bound to increase in value by 55x as a consequence of them starting to use it.
As it is a global currency, would it not also be the case that they would increase their GDP by 55x in doing so? If they could cheaply buy gold, knowing that it would go up 5500% straight after, that would be a pretty good reason to buy gold! How would a country go about adopting bitcoin anyway? They couldn't buy on exchanges, how could they acquire the starting currency? |
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I just saw this headline about bitcoin: "With Greek Uncertainty, Investors Seek Safety in Gold and Bitcoin" That is the actual headline! Now bitcoin is "safe", and the WSJ it a heavy hitter in the investment press. I am sorry the article is behind a paywall, but I think this is the best headline I have ever seen for bitcoins. The FUD news seems to be in the rear view mirror  I can't read the article, or won't pay to do so anyway. Are your sure that is it a real WSJ article though? Lots of people pay to get sponsored articles that look a lot like real articles posted in major online newspapers. I remember the Quark people doing it to raise their profile in 2013 |
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... LiteCoinGuy I went to take a look at their website: digitalbitbox.com, looks like an interesting product! I like the use of the chip (like Ledger I suppose), I also like the fact that they say it will be simple and that there will be no firmware updates. Both my Ledger Nano and Trezor are asking me to update firmware... I look forward to finding out how much it will cost and become available. i would estimate that it will cost 20-40 Euro/Dollar. no firmware updates would be cool indeed. That price range is very reasonable, I hope that it is priced so. As a general rule, simplicity is something I admire and like in such products. Firmware updates are not only a hassle (mild, we hope), but introduce risks, I believe some people had problems with a Trezor firmware update (I did not do the update). "A BTC wallet for the rest of us!" But are Trezor wallets still seen as the gold standard? I would like to get my security in order before investing significantly in Bitcoin. Electrum with 2FA seems pretty safe and a good encryption seems pretty safe, but I am thinking of a Trezor. It does seem to have the same issue as a small precious metals safe though, someone can just steal the safe! |
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They can't take back the fact that there were currency controls and the banks closed.
The people won't forget to quickly, if anything I would expect the Greeks to buy more if the crisis is temporarily over.
At the moment others should be leading the charge, if it can happen in Cyprus and Greece, why not Spain, Portugal, Italy or France?
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yeah , this time to make some profit , i cant believe i can so easily play secondstrade usd/btc predictions , i have converted my 4$ to 12 $ btc , hope i will quit now , with this.
can anyone give me a valid explanation why BTC price is suddenly becoming too high since last 2 days.
please give only serious reply
There's not a specific reason. Some say it's due to the Greeks buying Bitcoin (that's doubtful). I would think it's others taking example from the Greeks and taking out some of their fiat and investing it into Gold or Bitcoin. But Gold is down from a week ago.. I think people are speculating that last time when Cyprus went crazy, the bitcoin price went up quickly. People don't want to miss the boat, so are getting involved early this time, moving the price. Some whale might well decide that now is a good time to dump, I hope not though, the price is so low still, I am considering buying more... |
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The way the ad moves wasn't intentional, sorry for those who may have clicked on the ad accidentally. Payments should be going through (there is still over 2 BTC in the hot wallet). I'll take a look anyway I also didn't get paid, but my stats have been reset as they should have. I have also joined the Hero club, and my per post amount has automatically updated |
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I do think the block halving has something to do with it, but there seems to be a general influx of money into alts though.
there have been a couple of waves where a lot of the big alts go up at the same time.
Last time the Alts market was crazier than the Bitcoin market in the bubble of 2013. It will be interesting to see if that happens again!
I don't see a $200 LTC anytime before BTC is $5k though!
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These "stress tests" are a little dumb, and nothing more than a propaganda stunt. We all know what the limits of bitcoin are, and the core devs definitely do.
...
Agreed. The first time was a cute trick. But if this is your new hobby then you should be testing on the "test net". Perhaps you can glean it's use from the name "TEST NET". Exactly, when governments do bank stress tests they don't disrupt real bank transactions whilst doing so! I had thought that they should just make an Alt bitcoin, then test that, but yes, Test net seems more suitable really. It is crazy to think that the entire transaction network can be disturbed by so little money, imagine if someone important really had a grudge, seems like they could take down bitcoin easily! |
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Any chance of getting some Tour de France betting markets up?
Overall, Green jersey, KoM, and winner/top 3 of each stage would be great!
Hey NUFCrichard, We do rely on an odds provider for our lines, so I can't make any promises. But, I will definitely pass along your request! If you have any specific lines you'd like to see in the future, please feel free to submit a support ticket on our site - this will ensure that the request is tracked and makes it to the right people! Calvin Ok, thanks for your response. I will submit tickets in the future. I tend to like betting on atypical betting events, so often have to ask for the markets, like for Marathons, Ironman and Cycling... |
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dude you don't mine bitcoin with a dual core, that is...i don't even have a word to describe how wasteful this is
bitcoin mining is done since months already, check the bitcoin price, because it is very good and stable, buy directly don't waste time
He must mean to connect to his ASIC miners, not for mining himself... I hope so, otherwise they might be waiting a while before getting and rewards! If that is what the OP means, don't do it, you will never mine anything with a GPU, let alone a CPU! |
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Ladies and gentleman. --- Fasten your seatbelts. --- We are about to take off in 10,9,8,...  Oh, damn it. I am not ready! Wait, wait wait,... I am not a technical analysis sort of person, but I recognise a change in trend direction, and that chart looks good to me. I think it is a bit speculative, probably based on the Greece crisis at the moment, but any upswing could get us to a new more reasonable price, then the press and masses will follow. |
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I know we want bitcoin to be a competitor to fiat etc but when looking at in terms of price movements should we not be using gold in all these charts as bitcoin it is sort of a electronic gold ie gold has much of the stored value etc features we hope for bitcoin.
to that end on 1 january 2015 an ounce cost 3.79 bitcoin. Today it costs around 4.88 bitcoin. in other words we are going backwards - ie we are not convincing the real and conservative world we are at least as good if not better than their traditional safe haven.
Comments?
I agree that there should be a gold:BTC market shown. The problem is that no one will trade this par, so people don't show it. It was big news when parity was reached, so people do see a link, but generally is it ignored and I agree that it shouldn't be. Electronic gold doesn't sound good to me though, that sounds like non-physical gold, which is bad. I prefer internet money! |
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It could get interesting very fast. If they are expecting the masses to use a completely new currency, then it isn't a big step to getting them using Bitcoin in a far bigger way.
It could just be a false dawn for Bitcoin, but it could be the start of a country really adopting Bitcoin.
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Whether it would be an altcoin or the real bitcoin is semantics really.
Changing Bitcoin is a big deal, it has to be accepted, otherwise we will have a worthless real bitcoin and a worthless old bitcoin.
The name obviously shouldn't change, but I doubt it will
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Right now the two cheapest hardware wallets are the Ledger HW1 and the BlochsTech Bitcoin card at 15 and 20 EUR respectively. However what would you consider cheap? At what price would you get one (either/other)? Do you think dedicated devices help Bitcoin usability and security or are apps and SMS services the way forward? If I had a decent number of bitcoins, I would happily pay 25€ to buy one. It does make other problems, i.e. that you can more easily have it stolen or lose it, whereas secure web-wallets are much better for that. I think holding in a mix of the two would probably be best. I would like them to be bigger, like an external HD size, a usb stick is too easy to lose. It isn't something I want to take with me, it would be like a form of cold storage for me, with my web-wallet being a hot wallet. I would consider 10€ cheap. |
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Any chance of getting some Tour de France betting markets up?
Overall, Green jersey, KoM, and winner/top 3 of each stage would be great!
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It's better if they sort all the bugs out now, rather then after the live release, where real money is at risk.
I agree, Ethereum is progressing with its testnet and is looking to become quite useful. We will still need to wait a bit longer to see what gets built in it but I am cautiously optimistic myself. But as with all things wait and see is the mantra here. So there is no hard plan for when it will go live? Obviously it needs to be ready for public consumption before being released, but it would be good if that could happen sooner rather than later! I imagine a lot of investors are quite worried. about the delays. |
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Wasn't this a story on cryptocoinnews already a few months ago? Otherwise I wouldn't know her name, but I definitely read about her wanting to get involved in Bitcoin before. It is probably good news in the short term for the bitcoin market, I wouldn't bet on her staying in for the long haul though, she would happily drop BTC to make a profit too. Found the link: http://www.coindesk.com/former-jp-morgan-exec-blythe-masters-swaps-wall-street-for-bitcoin/ from March |
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Well, it looks more like a standard automated cut and paste reply to me. From their business viewpoint, they won't integrate as long as the volume is not big but when this starts to go mainstream, I'm sure you don't even need to send an email asking them for a favor. They will voluntarily do it. But I'm sure like every big business entity they are monitoring the progress of bitcoin.
I don't understand why they don't do it already. Sure, if no one did it before, it would be way to risky, but I mean even Microsoft is already in. What the hell are they losing except clients? eBay needs to get with the times as well, same for Steam. Accept crypto? Lose money   Well that's the risk you take when you hold a percentage of coins instead of using a payment processor, but who knows how much those coins might be worth in the future. They have a paper loss if they still have the Bitcoins. If they hold and the price rises, they have lost less or maybe gained. As the number of Bitcoin they have has stayd the same, they haven't really lost anything, tax wise anyway I assume. I doubt they will be complaining when the price rises again. |
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didn't Nasdaq just say they planned to potentially use the blockchain technology -- not the bitcoin blockchain itself? correct me if i'm wrong. but that was my understanding.
Your wrong... They are using open assets which uses bitcoin. I always get a kick out of the use of the blockchain technology without it having anything to do with bitcoin itself routine. Ya can't have one without the other. You can, it might not be a good idea, but it can be done! Look at the all crappy Alts, they have blockchains, they can make fast online transactions that can be tracked, just like bitcoin. They aren't secure and are often run by people you wouldn't want in charge of your money, that's the problem imo. |
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