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i'm thinking his bitcoins will never get used. if it was done for ideological reasons.
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you can take a little off the table, to de-risk. it doesn't have to be all or nothing.
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agree with Jutarul.
as the miners know it's going to happen they can make an economic calculation before they invest.
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most people lament the bitcoin exchange rate volatility, but it may be a good thing at this point in time. why? well, if there was a steady, but rapid, increase in value, entrepreneurs wouldn't bother risking their resources on building out bitcoin infrastructure; they would just buy and hold bitcoins, instead.
pundits like to take shots at BTC, claiming it's too volatile, but lets face it, it's a priori. it's based on how they think the world should work, not what's happening right in front of their eyes!
they claim it's too volatile, they claim you can't have a deflationary currency, they claim it's not backed by anything. yet here we are.
reality is trumping them!
yes, it may be volatile, but look around: it doesn't matter.
the market is winning, and the cocky swagger of those that denounce bitcoin is draining day by day.
at some point, there'll be less volatility, and it will help bitcoin-as-a-medium-of-exchange. that points not right now. and that's ok!
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i always get worried with sites like this. it makes me think my browser's going to get exploited.
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when someone calls bitcoin anonymous, i automatically think "noob".
i heard henry blodget of Business Insider fame say it today. it made me want to cry. hopefully he's google a google alert on his name and he sees this -- and never says it again.
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i've heard people say they hate math, or can't do math too many times. i can't image people will ever do this. not unless nootropics were put in the water supply!
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not a fan of diversification, personally. i don't think i'll ever own any gold or silver (not as a store of value, anyway).
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the top spot was me  i do enjoy HN. |
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DPR took a large risk in getting that amount of bitcoin. and even if he does have vast wealth, would you trade places with him?
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it's not worth watching, imho. just in case you were debating whether it's worth the ~50 minutes.
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it is still early. one way to look at it is the type of people who are making investments: venture capitalist and early adopters.
another is look at how polarized it is at the moment. there's no consensus. which is good. consensus is the opposite of opportunity.
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let the reshuffling begin. it's not like it was fair to start off with!
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i don't interact much with the mainstream, and i was just thinking last night how it would be weird to mingle with some "normals" and have a bitcoin conversation and everyone just know what it is.
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Put the first part on my site today. Thanks oldtimegin!
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> Wouldn't it have a negative effect on the system? it would be damaging to the "system", but amazing for the economy! having some looters pillage wealth from people who produce isn't the way it has to be (and hasn't been in the past). the state is a pest. > If people start refusing traditional currency over BTC, would banks just print more money? Or would they give in? they'll likely never give in. but they will likely lose, regardless of how hard they try. it's the nature of asymmetric competition -- bitcoin has an unfair advantage. > What would be the outcome? How rapid of growth could we take on? if the protocol can scale to earth-size then the entire plant. much the same as the internet. in fact, networks gain in value as they get larger: n to the squared, where n is the number of nodes ( http://en.wikipedia.org/wiki/Metcalfe's_law). > If they can print as much money as they want, then that means they can always be ahead of us anyway not if bitcoin has more value. it doesn't how much paper they print. paper is going to return to its intrinsic value. close to zero! |
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about 5 minutes. and the more i learn, the more i believe in a cryptocurrency future -- and long may that continue.
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