Worst troll ever.
which is your main account your posting with an alt account got something to hide  I think having such an incompetent person at the job could actually materialize the crash all the Bitcoin maniacs were talking about for so long. To be fair, I do not think there is any reason to believe that Yellen is any less competent then Bernanke or Greenspan. The global financial system is headed for another major disruption, regardless of what Yellen does. |
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I think socializing on the internet is a much more common trait among everyday people than the inclination to use an alt currency/commodity.
True, but there is also a tendency for people to eventually adopt vastly superior technologies. |
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Yes, this is the end. Because MtGox is dead, which has been confidently predicted by both bears and bulls for years, we're all going back to cash without even a glance back, lest we be turned to a pillar of salt.
I love the biblical reference. |
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Bitcoin will never in a million years be widely adopted by the public if everybody needs to do an in-depth investigation of a financial service before buying some BTC.
To Catch a Wild Pig"You catch wild pigs by finding a suitable place in the woods and putting corn on the ground. The pigs find it and begin to come every day to eat the free corn. When they are used to coming every day, you put a fence down one side of the place where they are used to coming. When they get used to the fence, they begin to eat the corn again and you put up another side of the fence. They get used to that and start to eat again. You continue until you have all four sides of the fence up with a gate in the last side. The pigs, who are used to the free corn, start to come through the gate to eat; you slam the gate on them and catch the whole herd. Suddenly the wild pigs have lost their freedom. They run around and around inside the fence, but they are caught. Soon they go back to eating the free corn. They are so used to it that they have forgotten how to forage in the woods for themselves, so they accept their captivity." Enough said for smart ones, you others keep on eatting that corn and STFU, we will (eventualy) come to rescue you once we first rescue ourselves. Great story. |
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Only one million? That is shocking. I thought it would be more like ten million. I might even be able to afford that in the not too distant future... |
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I just wanted to tell you that I am finalizing the purchase of Malla Manor this week, and we will have a party there starting Friday.  Malla will be (probably) the first high-class Bitcoin retreat centre in the world. 100% owned by me, it offers 5000 sqm floor area (some under renovation) and currently 127 acres of land. The property is in the middle of beautiful countryside in Estonia, just 1 hour from Tallinn airport. That looks incredible. Are you planning to use it as a residence as well or will it function as a gathering point for elite BTC-ers? Bitcoin Bilderberger |
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I think a universal unit of measure for currencies should be based on something that is of universal value to all humans. Gold and dollars do not meet this requirement. Maybe we should use something based on human dietary needs, such as average daily required calories. Then we use a weighted price basket of the world's 5 or 10 most common staple foods (staple food index) to determine the value of these universal units. Let's say:
1 unit of universal value = market price of 2,000 calories of staple food index
Merchants could then choose to price their goods and services in this new unit of value. For example, a baker who currently sells a 2,000 calorie loaf of bread for 5 dollars (2 for 10) decides that he wants to price his goods in this new measure. The cost of the wheat to make the bread is only 1 dollar and staple food index is 2 dollars. If the baker would sell the bread at cost, the price would be 0.5 units of universal value. But obviously he takes into account fixed costs, labor, and profit, so he sets the price at 2.5 units, 400 percent higher than the cost of raw materials, just like 5 dollars was 400 percent higher than 1 dollar.
Obviously this idea needs a lot more development...
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I think there is a lot of new money waiting to come into bitcoin now, but investors are waiting to see if the downtrend continues lower.
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I am curious to know if anyone using a bitcoin wallet on Linux has ever been the victim of a successful keylogger or screen capture attack.
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My feeling is that any price rise in 2014 won't be setting the world on fire. It'll be a year of relative consolidation.
Building foundations and infrastructure is far, far more important than another procession of bubbles and that's what this year is promising.
Once more of that is in place we'll be ready to have minds blown again.
I think there is enough room in one year for both to happen. |
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A good article. The BTC community needs more of those people.
The author fails to consider bitcoin's use a store of value in her calculations. She assumes that 100 percent of bitcoins will be in constant circulation. My personal experience and knowledge of the bitcoin community (limited though it may be) leads me to believe that more than 90 percent of bitcoins are being held as a long-term store of value or lost, rather than in circulation (10 percent of bitcoins). That means she should use 1.3 million bitcoins in her calculations, not 13 million, which leads to a market price of 500,000, not 50,000. Is my reasoning sound? Does anyone have a better estimate of the ratio of bitcoins in circulation compared to store of value? Does this even matter? |
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Are you a high school teacher in China? but are you sure the Principal is happy about that? i think "FREE Lunch + Bitcoin introduction seminar" should attract students  for me, I need more inspiration, tell us more of your other ideas, tell us what type of school it is, where is it located, what other types of clubs are there
the perspective may be totally different for a club for Chinese students in a school like Bronx High School of Science, where the Chinese population is highly intelligent, poor, and often are not interested finance, as opposed to Chinese students at Newport Coast who tend not to be as academically inclined but finance is their best friend -- there btc 101 could be a mandatory class. Yes, it is an international school for students who plan to study abroad in the United States, Canada, the U.K, or Australia. Most of the students come from wealthy or upper-middle class families and many of them are very intelligent and curious. All of my colleagues already know of my deep interest in bitcoin and although I have not made any particular outreach efforts toward students, a few of them have already found out about my interest and approached me about it. I helped them download Mycelium bitcoin wallet or directed them to Blockchain.info and gave them a few mBTC to show them how it works. I also told them to visit the one restaurant in the city, owned by my friend, that accepts bitcoin. My plan at this point is still rather vague. It would begin with an introduction and tutorial. Then there would be a research stage, where students would be assigned to research and give presentations about different aspects of bitcoin. There could be efforts to get some local businesses to accept bitcoin and other community outreach efforts (I have already started a QQ group for the city which has several dozen members, but there have not been any real-world meetups yet). We could conduct a fundraising activity for a foreign charity and transmit the funds internationally through bitcoin. We could network with other bitcoin organizations in other countries. I really do not think there will be any objections from the authorities so long as it is presented and conducted primarily as an educational activity. That's excellent. Weibo and QQ will get a lot more exposure in China. Which city are you in? My teammate and I are planning to organise a bitcoin meet up in Beijing and Shanghai in coming months. We can even do a short presentation for students…it will be some basic background of btw and the benefits of it to the society  That's great. We are in Jinan. Hopefully if our group comes together as I hope, we can send some representatives to the meetup in Beijing. |
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Someone needs to step up and be the HSBC of bitcoin for the drug cartels.
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Yes, it is an international school for students who plan to study abroad in the United States, Canada, the U.K, or Australia. Most of the students come from wealthy or upper-middle class families and many of them are very intelligent and curious. All of my colleagues already know of my deep interest in bitcoin and although I have not made any particular outreach efforts toward students, a few of them have already found out about my interest and approached me about it. I helped them download Mycelium bitcoin wallet or directed them to Blockchain.info and gave them a few mBTC to show them how it works. I also told them to visit the one restaurant in the city, owned by my friend, that accepts bitcoin.
My plan at this point is still rather vague. It would begin with an introduction and tutorial. Then there would be a research stage, where students would be assigned to research and give presentations about different aspects of bitcoin. There could be efforts to get some local businesses to accept bitcoin and other community outreach efforts (I have already started a QQ group for the city which has several dozen members, but there have not been any real-world meetups yet). We could conduct a fundraising activity for a foreign charity and transmit the funds internationally through bitcoin. We could network with other bitcoin organizations in other countries.
I really do not think there will be any objections from the authorities so long as it is presented and conducted primarily as an educational activity.
That's fantastic, your ideas are wonderful. I would suggest a project with huge potential wins, win for you, your club members, your school, the bitcoin community, your country and many other people around the world. The first step is to look for a problem in the area of concentration (bitcoin) that you would like to focus your attention. I think you should look at the creation of self-regulating guidelines for the cryptocurrency industry with a focus on bitcoin. Such a project addresses a real and present need, has a good purpose, has specific goals and will result in all club members knowing the basics of bitcoin, getting introduced to local and perhaps national govt, and also meeting bitcoin leaders in various countries. Such a project will give you the REAL opportunity to shape Bitcoin's future in a meaningful way. I would also suggest that you video the whole experience, and upload it as an reality show. Not only will it be a great club project, it will likely inspire other schools around the world to follow your lead. It may sound ambitious but I assure you are ready for the challenge. I'm willing to provide support, and I'm sure many others from outside of your club will be willing to help your club as well. Thanks for your encouragement. What you suggest might be a little too advanced for the students at this stage, but as I have been thinking about it I have started to form a more concrete plan. In the first meeting I will instruct all of the students to get a bitcoin wallet - for those with Android I will recommend Mycelium and I will tell those unfortunates with Apple devices to use blockchain.info. Then I will distribute a small amount of bitcoin to each of the students and assign them the task of finding a charity online that accepts bitcoin and make a donation. (If anyone knows of a good list of charities that accept bitcoin, please share.) By doing this everyone will have a basic understanding of the functionality of bitcoin. In the second meeting I will assign some questions about bitcoin for the students to research and report back at the next meeting. Some of the questions will be: What is the origin of bitcoin? What is bitcoin mining? How can people buy bitcoin? How do people use bitcoin? How many people use bitcoin? What is the difference between the bitcoin money supply and the money supply of traditional government currencies? What is the central authority that manages bitcoin? What are the advantages of bitcoin over the traditional banking system? What are some major bitcoin companies? In the following meetings we will work on educating people about bitcoin, networking with other bitcoin organizations around the world, organizing a local charity event using bitcoin, etc. |
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All we need is one Sheikdom to announce that it is adding bitcoin to its sovereign wealth fund.
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Another episode of "Drunk Bitcointalking" ? Or do you just like making yourself a:  PS: anyone who says "bro" is on my "barf" list. Don't tase me, bro. |
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Are you a high school teacher in China? but are you sure the Principal is happy about that? i think "FREE Lunch + Bitcoin introduction seminar" should attract students for me, I need more inspiration, tell us more of your other ideas, tell us what type of school it is, where is it located, what other types of clubs are there
the perspective may be totally different for a club for Chinese students in a school like Bronx High School of Science, where the Chinese population is highly intelligent, poor, and often are not interested finance, as opposed to Chinese students at Newport Coast who tend not to be as academically inclined but finance is their best friend -- there btc 101 could be a mandatory class. Yes, it is an international school for students who plan to study abroad in the United States, Canada, the U.K, or Australia. Most of the students come from wealthy or upper-middle class families and many of them are very intelligent and curious. All of my colleagues already know of my deep interest in bitcoin and although I have not made any particular outreach efforts toward students, a few of them have already found out about my interest and approached me about it. I helped them download Mycelium bitcoin wallet or directed them to Blockchain.info and gave them a few mBTC to show them how it works. I also told them to visit the one restaurant in the city, owned by my friend, that accepts bitcoin. My plan at this point is still rather vague. It would begin with an introduction and tutorial. Then there would be a research stage, where students would be assigned to research and give presentations about different aspects of bitcoin. There could be efforts to get some local businesses to accept bitcoin and other community outreach efforts (I have already started a QQ group for the city which has several dozen members, but there have not been any real-world meetups yet). We could conduct a fundraising activity for a foreign charity and transmit the funds internationally through bitcoin. We could network with other bitcoin organizations in other countries. I really do not think there will be any objections from the authorities so long as it is presented and conducted primarily as an educational activity. |
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