What will happen when the center of world finance moves rapidly from London, New York, and Hong Kong to Silicon Valley?
I don't think the center of world finance will move. I think there will be no longer a center of world finance, because with Bitcoin centralized entities are no longer needed. Corporations and users can operate borderless anywhere they want. There's nothing to fear about the changes Bitcoin will bring, because all these changes are positive and will empower the average citizen. Wouldn't that be scary if bitcoin brought the Russians into power  It won't happen because of Bitcoin. It will happen (Russia+China), because the world is fed up with being slaves to the constantly warmongering American hegemony and all the power of the US relies on the dominance of their currency, which is slowly eroding. Imho, Russia as a new world power can't be worse than the US. |
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i didn't say this full block spam attack we're undergoing wasn't affecting my node at_all. sure, i'm in swap, b/c of the huge #unconf tx's but it hasn't shut down or stressed my nodes to any degree. one of the arguments by Cripplecoiners was that these large block attacks would shut full nodes down from destabilization resulting in centralization. i'm not seeing that.
The 1MB sanity check/safety limit is the reason you aren't seeing nodes destabilized by "huge #unconf tx's." We would be "seeing that" if gavin@tla.mit.gov and hearn@google.mil had gotten their way and successfully rammed through their poorly researched, hilariously ill-conceived 20MB proposal. Luckily, Team Gavincoin got fukkin' r3kt exactly as I foretold: [img] If you ask me, Gavin is a burden for Bitcoin, because he is constantly out for a power grab (the Bitcoin Foundation was his first attempt). His narcissistic behavior is unacceptable and his suggestions are unscientific (although he claims to be "chief scientist") and lack substance. He should be forced to surrender his development privileges. Sadly, so many people follow him blindly, just because he enjoys the public spotlight. |
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das ist so, als hättest du am beginn des internets die leute überzeugen wollen email-adressen zu benutzen. letztlich bringt die zeit und das große geld (Silicon Valley) die leute dazu es zu nutzen bzw macht es nutzbar. aber wir können ja schon etwas vorarbeit leisten  ... Zum einen das, zum anderen ist es psychologisch gesehen vollkommener Unsinn, Bitcoin zu verschenken. Der allgemeine Verstand sagt einem nämlich: Was man von Wildfremden geschenkt kriegt hat entweder keinen Wert oder es verbirgt sich Kalkül dahinter. Deshalb führen solche Schenk-Aktionen eher dazu, Bitcoiner als sektiererische Aktivisten zu sehen, die ihre wertlosen Coins anderen aufdrängen wollen. Deshalb: Bitcoin nur gegen Leistung / Güter. Was nützlich ist, wird auch genutzt werden - ganz ohne Konfettiwürfe in die Menge. Informieren kann man selbstverständlich, aber besser nicht aufdringlich werben. Die Leute müssen schon etwas Eigeninteresse mitbringen. Viel wichtiger als das ganze Marketing ist aber die Infrastruktur... Ich gebe dir teilweise Recht. Die Infrastruktur und das Interesse muss stimmen, richtig. Aber manchmal kann man durch eine kleine "Spende" das Interesse eben hervorrufen und vlt gänzlich auslösen, wenn z.B. manche Leute zu ängstlich sind, den ersten Schritt (also den Kauf von BTC) zu bewältigen. Ein paar Satoshi zu verschenken finde ich nicht schlimm. So wie du denkst, denken nicht viele. Müsstest mal an unserer Uni die Menschen sehen, wie sie den Goodie-Verteilern hinterherrennen, wenn es kostenlose Sachen gibt. Die "Gratis-Einsack-Mentalität" ist mir schon bekannt, allerdings handelt es sich bei den "Goodies", die sonst verteilt werden, üblicherweise um Dinge, die ohne weitere Erklärung gebrauchsfertig sind (Kugelschreiber, Kekse, Kühlschrankmagneten,... äh... Kabelbinder, Klobürsten...). Bei Bitcoin ist das anders, da muss erst Zeit investiert werden, um Software zu installieren und das Konzept zu verstehen. Diesen Aufwand werden Leute nur dann betreiben wollen, wenn sie sich ohnehin schon dafür interessieren... und schon gar nicht für Bitcojn im Wert von < 1 EUR. Ihr könnt die Leute ruhig mit Satoshis einstäuben, nur ich glaube halt nicht, dass das viel bringt. Die Zeit wäre besser z.B. in Dokumentation und Support (z.B. für Bitcoin-interessierte Unternehmen) investiert. |
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It's perfectly possible [...]
It's not only possible, it's likely if Bitcoin doesn't fail. Bitcoin's value will be either zero or very very high. I don't think a scenario where Bitcoin continues to exist as a niche currency has a high probability, because its benefits are too disruptive. So either there is a systemic failure and Bitcoin is replaced by something better, or Bitcoin will conquer the whole economy. |
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Without reading every page in this thread, I'll add my two cents worth here.
I can't see a reason why Gold can't rise along with Bitcoin at the moment, just at different rates. Whereas Bitcoin can approach $1000 again by the end of year (nearly 4x the current price) similarly Gold can approach $2000 by the end of the year (nearly 2x the current price). Neither Bitcoin or Gold are undermined by debt compared to all the trillions of dollars in stocks and bonds which are leveraged to general confidence in elite lending strategies.
Yeah, I don't think it makes sense to come up with the idea that Bitcoin and precious metals would be mutually exclusive. I'm pretty sure that both will rise. Even if gold might ultimately be replaced by Bitcoin I doubt that this process will be fast enough to obstruct the general upward momentum of gold in a collapsing world economy. After all, Bitcoin's concept is like virtual gold: The supply is limited, it's very difficult to counterfeit and you have to put in substantial effort to obtain it. |
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These links should gain more prominence. We should not forget that Bitcoin makes international trade so much easier. So it's always a good idea to help existing webshop owners adopting Bitcoin. Getting small businesses to adopt Bitcoin is a double-win, because they provide services for Bitcoin and might at the same time (as individuals) become users of Bitcoin. |
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All national central banks in the Eurozone are members of the ECB and can vote as such. The ECB is the only entity that can emit Euros. This means that a single country's central bank is effectively powerless in regard to monetary policy if it has no support from other ECB members. So the Greek National Bank could introduce a parallel currency (and devalue it as they see fit), but that wouldn't help the country's debt problem, because the debts are denominated in Euro. they can only print dracma, which at this point, they are really equal to toilet paper, and one of the reason why they can't leave euro so easily
Wrong assumption. If they start printing Drachma banknotes in the near future, its value and the exchange rate can't be predicted right now. It will depend upon the economic conditions and the trade balance. At least in the initial few months, I believe that the Drachma will be stable. Then depending upon the economy, it will either move up, or move down. The Drachma will devalue sharply from day one and adjust downward to the real economic ability of Greece. Assuming a different outcome is delusional. |
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Mit China-Prognosen tue ich mich schwer... da weiß man ja noch nicht einmal, ob echte Bitcoin gehandelt werden...
Ich war zur Zeit der Preise >1000$ in China - Viele wissen, was ein Bitcoin ist... Und Leute mit Gehirnwindung gibt's auch dort, die lassen sich halt dann auch nicht von Verboten und Propaganda blenden. Viele Moeglichkeiten, zu Investieren hast du als Chinese nicht: Immobilien, chin. Aktien, und Staatsfiat halten - erstere Beide sind schon maechtigst aufgeblasen, das Drittere kommentier ich nicht weiter Mein Kommentar sollte nicht die Bitcoin-Kompetenz der Chinesen in Frage stellen, sondern bezog sich vor allem auf die fractional-reserve Praktiken einer chinesischer Bitcoin-Börsen. Ich vermute, dass das Hochrisiko-Investment und Blasen-Potential in China auf jeden Fall sehr hoch ist. Allerdings ist die Frage, wie nachhaltig derartige Entwicklungen sind. Vorherzusehen, in welche Investments die Chinesen nach einem Börsencrash gehen werden, halte ich für äußerst schwierig. |
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Seems we will wake up in a new europe tommorow
It will be the same continent and the same people. Just one country leaving the Euro-club is not the end of the world. The vote doesn't matter much, because Greece is simply insolvent. This fact can't be denied and ultimately determines the (bad) economic outcome. |
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Ich glaube ja, dass es einerlei ist, wie das Referendum ausgeht: Pleite ist pleite, ob man ja oder nein dazu sagt spielt keine Rolle. Entscheidend ist vielmehr, ob der befürchtete Kapitalschnitt für die Sparer kommt oder nicht (ich bin mir ziemlich sicher, dass ja). Ein solches Ereignis hätte wahrscheinlich weitreichende Auswirkungen in ganz Europa, da den Leuten mehr und mehr bewusst werden dürfte, dass das Giralgeld auf der Bank nicht sicher ist. Dann werden sie nach Alternativen suchen... Mit China-Prognosen tue ich mich schwer... da weiß man ja noch nicht einmal, ob echte Bitcoin gehandelt werden... |
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The tragedy for banks is that they can use Bitcoin, but it won't help them to increase their profit margin. Banks will simply become less relevant and will have less power than today. New services will be developed around Bitcoin for sure. But there will be fierce competition not only between traditional banks but also between emerging FinTech-companies.
So the days for big banks are counted...
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If you consider past gains, Bitcoin is already the best investment of the century. (Please come up with other assets to disprove me... ) I think the most important thing many people seem to over look, is the $229 million in backing from VC firms... Ask yourself the question.. Why would that much money be invested in something, if the people behind it, did not see potential in the technology?
I often ask myself - why aren't they directly buying bitcoins? Could they possibly think that the technology has applications, but the price could go to double digits? That's a good question. Maybe they think that buying companies has a better risk-reward-ratio. If the companies VCs bought succeed, they will amass a lot of Bitcoin in the process. So they are buying Bitcoin indirectly. But maybe it's just traditional thinking or a pure definition-based phenomenon: VCs invest in ventures, that's why they are named VCs. |
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das ist so, als hättest du am beginn des internets die leute überzeugen wollen email-adressen zu benutzen. letztlich bringt die zeit und das große geld (Silicon Valley) die leute dazu es zu nutzen bzw macht es nutzbar. aber wir können ja schon etwas vorarbeit leisten ... Zum einen das, zum anderen ist es psychologisch gesehen vollkommener Unsinn, Bitcoin zu verschenken. Der allgemeine Verstand sagt einem nämlich: Was man von Wildfremden geschenkt kriegt hat entweder keinen Wert oder es verbirgt sich Kalkül dahinter. Deshalb führen solche Schenk-Aktionen eher dazu, Bitcoiner als sektiererische Aktivisten zu sehen, die ihre wertlosen Coins anderen aufdrängen wollen. Deshalb: Bitcoin nur gegen Leistung / Güter. Was nützlich ist, wird auch genutzt werden - ganz ohne Konfettiwürfe in die Menge. Informieren kann man selbstverständlich, aber besser nicht aufdringlich werben. Die Leute müssen schon etwas Eigeninteresse mitbringen. Viel wichtiger als das ganze Marketing ist aber die Infrastruktur... |
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Luckily, Bitcoin’s core development team noticed the situation early and was able to track down a living alert key holder. That sounds quite dramatic! Several alert key holders already died from holding the keys. Now the remaining ones are on the run...  I think the problem was contained quite fast. It shows that it's always good to run a full node. |
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Please forgive, that after all these grammatical corrections I comment on topic:
Any additional service that accepts Bitcoin is a plus. However Voat is not big yet, it still has to grow.
Also the effect from Greece is a totally different one: Greece's problems and subsequent "solutions" - the freezing (and likely expropriation) of funds - have a tangible impact on people's mindset in regard to money. People will loose trust in banks and government money. They will actively search for alternatives to protect their savings. So Bitcoin might profit greatly if it is perceived as a store of value, not primarily as a tool to purchase services (for which Voat is an example).
Of course, both developments are reinforcing themselves reciprocally.
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The victors write the history books. If the yes vote wins a 30% haircut is more likely if you consider things rationally. Probably less so with a no vote.
I am sure not 100% of rumours materialise to be true.
I don't think the vote matters in any way. The country and the banks are bankrupt, that's a fact. Even with reduced outflow of banknotes, they won't be able to handle the situation with either a) more immediate aid from the ECB and/or b) expropriation. Whatever the vote is, I doubt that the ECB will act fast enough to prevent b) from happening. Troika propaganda.
Remember Cyprus. The truth will be revealed by government after the event, not before (except for some "special friends"). |
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Bumping with love and Greece: 2013 P.S. The worst thing is, that even a month ago I was suspecting that things can go wrong. In February, I several times called my banker and lawyer and asked them if money on the account is safe, mentioning that article in Financial Times. But they convinced me that there is no reason to worry, and even if country goes default, in no way current accounts may be affected. "This is European Union and banks here can't just grab your money and go" I was told. 2015 Zero Hedge: http://www.zerohedge.com/news/2015-07-03/greek-banks-considering-30-haircut-deposits-over-%E2%82%AC8000-ft-reportsAccording to FT, Greek banks are considering a depositor bail-in that could see deposits above €8,000 haircut by "at least" 30%. Now, just recent tweet from Yanis Varoufakis (Greek Finance Minister) https://twitter.com/yanisvaroufakis/status/617084556089409536FT report of a Gk Bank Bail In is a malicious rumour that the Head of the Greek Banks Association denied this morning Sounds familar? They will lie until the expropriation is in full effect. And even after that, they will continue to dispute the fact and promise something in the future to ease depositors and to maintain public order. I would not be surprised at all if it happens on Monday. The ECB has frozen emergency aid, so Greek banks will have to do something. But this time the psychological effect will be greater and might lead to bank runs across Europe... |
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I'm not sure.. I think it was a different name and the page looked different (was a Java applet I think). In general I think such a software is not necessarily bad, if the user is informed about what's happening. |
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Very interesting how Russian crime organizations are using malware to create an army of bitcoin miners
Can't mine bitcoin with CPU anymore. They couldn't can mine a dollar a day with 100 PCs. The malware is out of date. They would get much more by stealing form bitcoin wallets than mining. If at all they will be mining altcoins. Bitcoin mining malware is not a new phenomenon and has been around since years. I also remember some kind of Java software that was introduced for (more or less) clean motives: To replace advertising on websites by using the visitor's CPU to generate earnings. Unfortunately, I've forgotten the name... |
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wow i accidently put in topic '10' and this come sup. soooo old brings back memories
Although I wasn't around that early I can still recall the spirit of Bitcoin's early days when it was mainly experimentation and fun with much less emphasis put on the exchange rate, because most users had understood, yet not internalized (emotionally) that Bitcoin is money. So coins were much more likely to be through around for all kinds of stupid things and ideas. A great time! Reading of version 0.2... is there some kind of archive that contains all release versions of Bitcoin (Core)? That would be an important contribution to monetary history.  |
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