Price has dropped down to 3.09, it has gone down fast the past day! Anybody want to guess at a bottom before the price comes back up?

Using bitcoins to tip is fine, as long as you are buying more bitcoins than you give away.

Really, if you think that the dust left in the account matters that much, you should be dumping as much money into bitcoin as you can lay your hands on.

If a total stranger walked up to you in a crowded subway station and asked to borrow $250 to invest (without saying where he is investing or who he is), would you reach into your pocket and hand him the cash?

Heh, I have seen the movie, I hadn't thought of it that way.


The way to know if it the same person/group is to have the new person cryptographically sign something using a private key belonging to the old person. Did they sign their public statement? Have they issued a public key in the past? We have the tools, do we use them?

I don't suppose anybody wants to buy a candybar from me for a bitcoin now?


Someday we are going to tell our grandkids we lost a bitcoin from being careless, and it will blow their minds.

It may be <$1 now, but it is going to be $1000000 someday !!!!

EDIT: [/sarcasm] [/flying unicorns and rainbows]

Unless the FBI got the wrong guy?

I guess it depends on how gold does. As this thread speculates, gold is going down. So bitcoin could be bigger than gold at a lower price point than that, but I think the order of magnitude is about right. Plus, since nobody knows exactly how many ounces of gold exist we will never be able to pinpoint the moment that bitcoin is bigger than gold.

I am guessing we will see 1 BTC = 1 XAG before the end of 2016.

But what I think is a more interesting comparison: when will the market cap of bitcoins surpass the market cap of gold?

Does the phrase "sell dollars" have any meaning? At some point we will stop pricing bitcoin in dollars and switch to pricing everything in bitcoins. Instead of saying "sell bitcoins", you will just say you "trade bitcoins for something", or "buy something" and assume everybody knows you mean in exchange for bitcoins. Do you go to the store and sell dollars? No, you go to the store and buy something. In the future, you will go to the store and buy something by giving them some bitcoins. Or, what seems more likely to me, you will go to the store and swipe a card which debits the amount of bitcoins in the account at your bank.


I started a similar thread while ago: https://bitcointalk.org/index.php?topic=155472.0

Could you give an example of how to do that?

Take a look at CoinBr, they recently lowered all their fees and are quite reasonable now. They act as a broker for MPEx, so you can get the solid investments from MPEx without having to pay the huge registration fee, and the user interface is nice.  Here is my referal link: https://coinbr.com/ref?c=G7fzMs7Kfh

What benefit is there to fixing it to fiat? Why not just update the price to something reasonable every once in a while?

Any update on the share transfers to MPEx/Coinbr?

Pay attention to which drinks people order at McDonalds: the skinny guy orders Coke, the lard-butt orders Diet. If you want to be skinny, do what the skinny people do: order regular instead of diet (or just get water, because that is better than either of them).

I don't know if it is so high ... if the price of a bitcoin goes up 10000x then each bitcoin will be like 2 000 000, so the monetary base of bitcoins would be 42 000 000 000 000, which is not so far off from the 17 000 000 000 000 currently in the US national debt (and the US will probably have debt of 42 000 000 000 000 before then), so I wouldn't say that is "so high relative to the wealth on the planet".

Are profits calculated in bitcoins or in euros? Are the profits realized when they trade the euros for bitcoins and then can pay dividends in bitcoin, or are the profits realized when they trade bitcoins for euros, and then they have to trade them back to pay them out as dividends?

That's only four more orders of magnitude higher than it is today. The price has been going up about an order of magnitude each year, so that is a perfectly reasonable estimate of where bitcoin prices might be several years down the road.

That is why it is better to pirate songs. You don't have to feel bad if they suck and you end up throwing them out. When I was a teen-ager I bought a CD because I had heard one of the songs on it on the radio and liked it. The other 9 songs on the disk all sucked, I felt like I had totally wasted my money.

It would be nice if artists had bitcoin address you could donate to if you decide you like their music.  The webcomic xkcd has a bitcoin donation address: http://xkcd.com/bitcoin/

I feel like ranting about ObamaCare for a minute:

Has nobody in the government taken an introductory economics class? Supply and Demand people, it is not that hard to understand!

So the problem that they identified is that there are people who do not have access to healthcare, and the reason they identified is because those people cannot afford to get it. Obviously the problem is that the supply of healthcare does not meet the demand (you can have a whole other debate about whether it is even possible to meet the demand for healthcare, since people will always think of more reasons to spend money).

So the government's solution is to increase the demand for healthcare (or, more accurately, health insurance; we can have another debate about how those are actually connected). Anybody who has studied economics knows that when you increase the demand for something with a fixed supply the price will go up.

What the government should have done instead would be to focus on increasing the supply of healthcare. They should be hiring doctors or giving money to clinics/hospitals to hire doctors, helping more students go to medical school, and building hospitals/clinics in underserved communities. They should make it easier for charities to run health clinics. By increasing the supply they would lower the cost and make healthcare more accessible to everyone.