I personally think this is a big bubble. THe price has grown to big to fast. I just dont think the marketplace outside the SR supports the current valuation.
Unfortunately some people are going to lose alot of money... its just a matter of when.
If Bitcoin is money, its money in a limited supply and unless you sell them, get hacked or buy something you do not lose them. |
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So I just told my younger brother about Bitcoin yesterday and today we got to discussing in-depth about it. It's the first time he's heard of them. As you would expect he was curious and asked very thoughtful questions.
One question he asked that really intrigued me is how an entity (one with very very large amount of fiat) that wanted to destroy Bitcoin could pull it off...
He asked: Couldn't they just buy up every single Bitcoin in existence at the highest asking price?
I don't know how to answer this, but it sounds to me that may be the single biggest soft-spot for Bitcoin to me.
Chances are this has already been asked but I don't know how to find the thread so I'll just post this.
What do you guys think?
No, because not every single Bitcoin is made yet. In 2140 the last bitcoin will be made. |
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There is no loss, money just go from one bank account to another and Bitcoins from one adress to another.
The amount of money in banks stay the same.
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It took Facebook 8 years to reach a value of 100 billions which would be $4761 for each coin.
If btc reached just one tenth of that value in the next 6 years they will have to grow with atleast $1 every week on avarage.
To reach the same value, within 6 years the price would have to grow with $2 each day, on avarage.
Ofcourse such growth would not be linear but go in waves.
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In a way, it doesn't matter who controls what and who manipulates what. There is one aspect of Bitcoin that makes it a bit like a Ponzi. Once you are in (but not before that), you have a financial incentive to attract as many new users as possible, to drive the price up. Aliens? Fine, I'll help them spread the word. Some rich guy? Fine, I'll help him spread the word.
You mean it work exactly like stocks? Have you heard about this apple stock. |
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I bet a lot of guys wait for 32$ to sell their coins bought 2 years ago.
I bet not. Those that bought are waiting for $48 $64 $128 $256 $320 $640 $1280 etc to sell or use their coins. I think most people atleast want make 10% most that went in went in to make much more and now that they see the potential again they will hold. Besides there were not that many who bought at $32 so the impact of them selling will hardly be noticed. |
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r3CBwaoV4z9yX1t1gwB5CtKfTwL2AJQEWP
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Bitcoin only 16.000 subscribers on reddit.
Gangnam style from 0 to 1,337,768,313 views in a 6 months.
Trends on internet do explode if possible...
There will be articles if/once btc reach breaks $32.
There will be no more Bitcoin is dead articles unless Bitcoin really dies.
What reporter would want to look like a idiot proven wrong not only one time but two times?
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January 09, 2013, 01:29:00 AM So with only 4000 BTC you can execute an attack that disconnects all Windows clients at once. The attack takes 14 days to be prepared, so that gives enough time for users to upgrade (or if the core dev develops a patch fast enough) This is the cheapest attack to the whole network ever seen. 2 days later Over 4k BTC bought in one shot http://www.reddit.com/r/Bitcoin/comments/16bf98/over_4k_btc_bought_in_one_shot/Coincidence? |
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Greenpeace lie, deceive, spread misinformation and routinely recruit vulnerable, malleable youth who don't know better to break the law. Why would anybody want to associate with them these days is beyond me.
By 'break the law', Are you referring to Natural Law or State Law? Mostly the body of Common Law surrounding the sanctity of private property; you know like breaking and entering, defacing buildings, vandalism, denying right of entry ... have you not noticed Greenpeace was doing these things? Quite horrible. They have the nerve to show how easy it is to break into powerplants, and to risc their lifes to protect endangered species. The even have the nerve to do dangerous things like chaining themselves to a rooftop. Horrible. We would be much better of if everybode just did exactly as they were told caused it was written in the law. If even half of these are true... http://www.jimella.me.uk/laws01.cfmCourt ruled greenpeace were justified in breaking the "law". http://www.greenpeace.org/international/en/news/Blogs/makingwaves/court-rules-activists-were-justified-in-break/blog/38731/This is why we should not have a single powerplant. Watch this in fullhd on fullscreen. Its a video of all know asteriods to this day. http://www.youtube.com/watch?v=S_d-gs0WoUwAnd we have placed powerplants all over the earth. One powerplant meltdown that can´t be stopped is enough to render half the earth inhabitable for hundreds of years. Or when a tsunami hits US East Costs or a earthquake happens and it will, and you have placed "safe" powerplants on got damn Earthquake lines and along the coast (morons). Just like the morons who placed the fukushima nuclear below the tsunami warning signs. And people think its safe because people did not die at once... US East Coast Faces Variety of Tsunami Threats http://www.ouramazingplanet.com/3774-east-coast-tsunamis.htmlTsunami can also come from an asteroid going into the ocean. People die in 5-15 years as they eat food that is contaminated and the tiny radioactive substances and particles are picked up and stays in the human tissue. They die from heart diseases etc, not just cancer. 40% of the fish caught in japan is now not edible. What do you think a poor fisherman does with some of the fish they caught... Next time you eat fish and ships, the fish you just had might had been swimming through that contaminated pacific ocean. If there is a small text on the fishsticks that says from caught in Area 61. This is what that means: http://www.fao.org/fishery/area/Area61/enNow watch this video: http://www.youtube.com/watch?v=7eh4nBVJTsw&feature=player_embeddedDone by these: http://www.asrltd.com/japan/plume.phpAnd it can all go even worse. Reactor no4 contains tons of superdeadly nuclearwaste. Nuclearwaste is more deadly. http://www.naturalnews.com/035789_Fukushima_Cesium-137_Plume-Gate.htmlAnd now the reactor no4 is sinking into the ground. So it can collapse. And you think its over? http://www.youtube.com/watch?v=UFoVUNApOg8&feature=relatedHere is what happens: http://www.youtube.com/watch?v=lpWOeKk1GUo&feature=related |
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Money is a tool to keep track of information.
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I havn´t seen this posted anywhere. The future is here? Multicurrency payment solution Bitcoin and Euro mobile wallet? Launched by tech start-up venture Paymium with its banking partner Aqoba, Paytunia is the first bitcoin-enabled Euro payment solution designed to operate as a mobile e-wallet capable of sending and receiving payments in Euros or Bitcoins. "Paymium will isolate customers and merchants from any conversion rate risk by leveraging Bitcoin-Central, a bitcoin trading platform also operated by Paymium and fully integrated with Paytunia. Thanks to the agreement with Aqoba, funds deposited in Euro to Paytunia or Bitcoin-Central (bitcoin trading platform integrated with Paytunia) will enjoy the same level of legal protection as any other bank account in France. The Paytunia Pro version enables merchant to present shoppers with a standard bitcoin QR code to receive payments in Euros or Bitcoins: by virtue of the free software nature of Bitcoin, the tablet and smartphone application does not require the customer to be registered with Paytunia. By accepting any bitcoin-compatible application, Paytunia Pro solves the interoperability issue that has plagued mobile wallet developments until today. Payments in Euro are processed through the Bitcoin network." http://www.electronics-eetimes.com/en/News/full-news.html?id=222914819&news_id=222914819&cmp_id=7# |
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Great work.
In Sweden there is now a Bitcoin easy way to pay straight from you bank account called seqr.se.
They have probably looked at Bitcoin.
They way I see it is that Bitcoin is the only electronic currency you can own.
Its also the only system that does not collect data on its users.
Its the only currency that works like people think currencies work.
Sure merchants can collect data but its not something the system does all the time.
These three are enough, they are huge.
No other payment system have those.
They are simply payment systems for FIAT currency produced in an evil system as debt by private banks.
A Bitcoin is not supposed to be repaid to a bank.
As icing on the cake its one of the worlds best system to transfer and hold value, over the internet and in real life.
But the big deal with Bitcoin is that its a limited edition, currency.
The way I see the future, VISA and Mastercard and Paypal might probably adopt Bitcoin.
They can offer services on top of Bitcoin that the Bitcoinsystem will be to slow to offer, such as instant transactions, insurance etc.
Banks might probably mine Bitcoins or another cryptocurrency just to keep a backup and the network safe.
Cryptocurrency is here to stay.
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Valve should accept Bitcoin on Steam, then we're talking.
Just keep sending emails  Wordpress has just tilted the scale. Bitcoin offer something that silver dont Easy moneyOwn a popular service such as Steam, or a gaming company can buy a couple of thousands of Bitcoins. Because they can be sure that they can affect the value of the investment. Now offer people to get your product for x% less when bought with Bitcoin. This creates publicity which drives value up, and gets in investors and a need for Bitcoins, pushing price up. As you do this, you show others the way and more will follow. As value continue to increase more will buy coins. Right now atleast a couple of company owners are thinking about this, Wordpress has showed the way. If you are a billionaire. Buy a million Bitcoins slowly for a year, careful to not push the price up. Get some companies to accept Bitcoins and offer the service a little cheaper. Heck you could even pay them some. Waitas the news spreads and the value rise. Its also soon the only way to hide fortunes in the coming years. Which is what the rich want. There is a high probability that Bitcoin or maybe another cryptocurrency will rise to the stars over the next 1-10 years. When it starts to pickup steam, it will really pickup steam. And when it does it will exceed most peoples expectations. |
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Bitcoin have potential to be a much better ROI, its so easy to use on the internet and in real life.
But is also higher risc.
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So, the only thing anyone here knows about agenda 21 is that it is secretly an evil plan. Yep, that's a crazy conspiracy theory alright.
What part of it you think is not evil? Are you another one who bought into sustainable development and social justice stuff? "Sony developed and patented technology that can transmit audio messages to person's brain over a distance. It'll help deaf people."  Gotta be truly retarded to not see what's behind it all. Thats usually called a loudspeaker or internet, can transmit audio messages over a distance. |
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Great work.
I hope and believe that some kind of POS have to be done.
"Recall also, that the necessary proof-of-work investment is much smaller than the proof-of-stake investment."
Does this not depend on whether the coin is Bitcoin or an Altcoin.
"At the same time, the attacker faces costs related to losses on bitcoin-specific investments which are necessary for the attack. It can be assumed that a malicious attack causes the purchasing power of bitcoin to fall to zero. Under such an attack, the proof-of-stake monopolist will lose his entire investment. By contrast, a malicious proof-of-work monopolist will be able to recover much of their hardware investment through resale"
This implies that when it becomes necessary to use ASIC in order to mine bitcoin, those ASIC investment will be a kind of, proof of stake,
if they can´t be resold after a Bitcoin attack unless its just a matter of a simple change of a chip.
Ofcourse real POS rules would also mean an economic loss of the loss of value of coins owned.
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haha, I'm not telling. Although we could have another big annoucement tomorrow, if the lawyers get everything approved.
Why tomorrow? Let this wordpress shockwave settle down a bit, then attack again with that second announcement . Yes, hold it for a month |
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