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They are trying to take bitcoin out of the "dark web". Not sure it will work since we have mixers and dark wallet, for example. If it gives bitcoin more legitimacy for billion dollar investment types, I don't think it's a bad thing. Users who want anonymous transactions with bitcoin will find a way. The state has to at least pretend it can do something about it.
Lawsky seems to really like bitcoin, so I think some compromises with the community will be forthcoming.
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As someone who purchase vintage instruments, I can guarantee that some people will purchase bitcoin at $10,000. A $10,000 guitar is considered average price among collectors these days. That would have been unbelievable to me when I was 15 and just purchased a $300 used Les Paul. Numbers are only relative to your state of mind.
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There's another post on reddit today of someone who had 35 BTC stolen from "secure" wallets. http://www.reddit.com/r/Bitcoin/comments/295las/35_of_my_btc_gone_pc_not_compromised/Certainly it seems like this guy knew what he was doing, but still somehow managed to get his BTC stolen.... I myself have taken all my bitcoins off of coinbase except for small amount. Except for a few donations, I haven't spent any this year. I'm wondering, if investors put most of their bitcoins in cold storage (and subsequently, not use them for currency), what will be the result? On one hand, they become more rare and they are held more tightly, which would seem to make them more valuable. On the other hand, they won't be used very much, which might mean they don't have as much value. I'm not sure what to conclude. There are a lot of very smart people here and I'd love to hear your thoughts on this. |
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Whether the 51% attack is a real threat or not makes no difference. Perception is all that matters, and that is affecting the price right now. The perception of bitcoin in the media has improved dramatically, but this could set off another round of FUD articles.
Clever arguments to the contrary won't matter. Finding a solution to this perceived threat will. It can also show how the greater bitcoin community can fix its own issues, which any long term investor would find compelling.
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Excellent buy opportunity, thanks for pointing that out op.
I was hoping for a bigger dip than this. People seem to be panicking a lot less lately... |
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Unfortunately it looks like he's pushing it sideways....
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Many thanks for this, very appreciated!
😀
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When people say there is no incentive for them to be at 51%, I think of the numerous times humans have contributed to the extinction of a species, even though their livelihoods depended on keeping the species alive and thriving. I'm hoping history doesn't repeat itself here.
What can be done about this?
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Apple is smart and have excellent products. Having said that, they've convinced their users to stick with them even though a good windows machine can be used 3 times as long even with multiple os updates.
It's more than just buying tech, it's also fashion and status symbol. I have friends who seem to be buying a new Mac every year just because they want it, not because they need it. That's just fantastic marketing. Bitcoin will certainly be helped by those who are "apple only". Many people are, no need to fight them.
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Certainty. Anyone who is a big player in bitcoin must be seeing these posts here and on reddit. This could be a huge moment... |
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The last 30 minutes of buying suggests that the answer is "yes".
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I don't understand how someone in economics can't see how BTC has the potential to be extremely valuable. I mean, it's the first time you can send money all over the world in any amount without a bank or other money service gouging you. Even if the banks used it for their own transmission of funds, wouldn't someone in economics recognize its importance? I haven't paid much attention to him. What were the reasons he choose such a low amount as a "fair price" for BTC?
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In the summer of 2004 , the marines invaded falluja. I remember that ridiculous hell like it was yesterday. 10 years will go by very quick my friend.
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Thirty years ago if you'd said we'd all have multiple computers each and 90% of them would run one OS people would have thought you mad.
Fifteen years ago if you'd said google would control over 70% of searches people would have doubted you.
five years ago if you'd said Android (which was released 6 years ago) would be on 80% of peoples phones they'd have laughed at that too.
Certain technology takes off
We're all just hoping we've hitched our wagons to the right rocket. (to mangle a phrase)
On top of that, adoption of change is getting faster and faster. Look at what Netflix has done as an alternative to paid cable in less than a decade. And then there's amazon, which has gutted many different markets by keeping things cheap and simple to buy. Disruptive technologies which help the consumer save money catch on really fast. This is why I think the remittance sector will be the first on btc's hit list. |
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Good to see some quantum theory on here. I agree, we see what we expect.
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I thought psychics read the energy of the person. They can "read " the persons future by sensing the energy the person is giving out. We are generally not aware of the kind of vibes we are giving out. Some people are very sensitive to this. That doesn't mean they can predict the numbers at a casino, but they may be able to sense if someone has a poverty based mentality.
Anyway, bitcoin could do extremely well but an investor could still lose all their money. The poor people keeping funds on mt gox are an example. Lord knows what other scams are coming....
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i like dark coin, but I think it's going to be the new enemy for governments so I don't think I'm going to invest in it.
Bitcoin is looking more and more like the "acceptable" crypto though!
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