In my opinion it is a great testimony that we just crossed 100,000,000% value appreciation  It is truly amazing. What historic assets or companies have risen that much? Are there others? I would say, no. It is "easy" to have a 1000x value appreciation with startups, perhaps 10,000x is possible. 100,000x hardly. A MILLION TIMES INCREASE IN 4 YEARS 10 MONTHS IS A NEVER BEFORE IN WRITTEN HISTORY EVENT.I am not surprised, Bitcoin is the first significant asset in the history to have its price completely decided by the market, thus the meteoric rise, think a moment how many folds will Google's stock price multiplies had they IPOed at near $0. |
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No money in !=more money out I guess.
It's difficult for the money to both get in and out thus the low volume and high price.
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The ledger of the gubermint can be changed at will, other than the restriction by some obscure laws, without the backing of real computing power/energy.
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It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.
If anything it makes you understanding what fiat really is-debt. |
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What about asking customers to use only one-time addresses(could be several addresses with fixed denominations or just a round number which is larger than the purchase sum, changes will be sent back later to a designated address by the merchant), whose private keys will be submitted to the merchant at time of payment, so that if the buyer conducts any further foul plays, the merchant could do the same.
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No matter what bitcoin does or becomes congratulations are certainly due to cypherdoc on the call.
+1. +2 I did not read the whole topic (just bits an pieces). What was his call?  edit: and when did he posted the call? The guy sold nearly his entire gold/silver stock (hundreds of ounces of gold or something like that) to get in Bitcoin, in the middle of 2011, you do the math..... |
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the world has changed forever.
goodbye gold.
When bitstamp and other exchanges hit it I'll be on the train here. Gox prices are at this point irrelevant to me. Just funny munny sloshing around in their platform. In any case we are on the cusp of all exchanges hitting that parity point. That is when the TRUE price (in my view) hits parity. Yes, you are correct about gox. But the media doesn't care, they use gox because it's highest and they want the headlines first. Of course all this is arbitrary (1 oz vs 1 BTC, 21 million supply vs gold supply). "Market cap" is much more meaningful and for Bitcoin to reach parity with golds value in that category will take a little more time to achieve... What a great story, though. Gold collapsing, Bitcoin UP. A place to watch for carefully should be the PM ETF market, they seem to have no reason to exist anymore, or should be totally decentralized and utilize the blockchain as trading vehicle, as unlike stocks, anyone holding PMs should not need anyone's approval to trade them. |
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LOL at all the noobs who were not even around this April. FYI 2 million BTCs were dumped in a matter of 4 days, and the lowest point the price reached was.....$50, nowhere near $1 yet.
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you should know it's only a telecom province subsidiary in china , they cant represent the whole Telecom corp
And the product price they are offering is not appealing
To me it's only unappealing because I have to give away my identity, the price is OK if you consider how difficult it is to convert large sum of bitcoins into fiats. |
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This is call of the century.
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LOL, this post has became some sort of a self-fulfilling prophecy, someone seems to be actually trying to pump gold and dump bitcoin! About time, I don not want to see gold give up without a fight anyway!
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the world has changed forever.
goodbye gold.
When bitstamp and other exchanges hit it I'll be on the train here. Gox prices are at this point irrelevant to me. Just funny munny sloshing around in their platform. In any case we are on the cusp of all exchanges hitting that parity point. That is when the TRUE price (in my view) hits parity. What's relevant to me is that there are indeed people fighting that price point on Gox right now. |
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Gold bugs fighting!   |
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will this be the push that does it?
Seems that it's really a resistance, a little surprise to me. |
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出货吧，然后他们就会发现，好像没法提一亿元到银行的样子。。。
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Inspired by https://bitcointalk.org/index.php?topic=48850.0, I create this thread. The craziness has gone to such levels that people are taking out loans, re-mortgaging homes, dipping into college savings, etc. to fund their bitcoin purchases. And that has worked fine so far, while the prize has been rising. But imagine if the opposite happens: the prize starts falling. Then people will run for the exits to try to cover the their debts. This can make the prize sink even lower. It is a positive feedback cycle, one that has a potential to wipe you out if you are investing borrowed money and aren't cautious. Be careful everyone and don't invest more than you can afford to lose. I doubt if your bank is going to allow you to make such large transfers. |
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I was talking with Glenn on twitter, mainly to commend this excellent article. The systemic strain on the blockchain right now due to sheer volume of transactions is the biggest barrier to widespread adoptance, but it's definitely something that is in the works right now to be fixed.
There are those that say, "well, payment processors will just accept zero-confirmation transactions and accept counter-party risk", which is one path that BTC can follow as it becomes more widely adopted by merchants, but as Glenn points out in the article, the danger posed by 'oligopolies' of mining cartels is the de facto centralization of Bitcoin, which poses the greatest risk in my opinion.
Glenn did a fantastic job. There are hundreds of threads on this forum which detail the risks. I think the main areas to consider are: a) Scalability with the block size constraint, bandwidth requirements for non-mining nodes. b) Mining concentration with excessive hosted mining. c) Point-of-sale limitations. Each of these is soluble to a certain degree. I think it is very significant that the debate is shifting from Bitcoin "ponzi/scam" to "under pressure". This is constructive as real problems usually have real solutions, especially when the atmosphere is calmer. I remain very optimistic. Multisigned fund escrowed with a payment processor could be a solution, still much superior to what we have today. |
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Yes, it's, why did you just realize it, it's too late, where is your laughter now?
About the macroeconomist, they are only relevant as long as can interfere the economy, otherwise who will give them a damn if the free market can figure things out on its own?
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