The total amount of the coin is 21 million, and currently 6.8 million has already been produced, they belongs to a handful amount of people who joined this game early
This means, the game in a large degree benefit those who joined this game earlier, it is still a "first come, first get" model, no matter how technically advanced, the ownership model has no difference than today's society, this model always slave/disencourage later adapters, it's just a matter of time before people start to lose interest
You're still treating this as some sort of investment or get-rich scheme. The OP is suggesting that we concentrate on its use as a medium of exchange. If you accept Bitcoin in exchange for a product or service, and those coins can be traded for other things you need/want, how does this disadvantage you? Granted, some of the early adopters have done well financially, but please offer us some constructive suggestions on how to bootstrap a decentralized, peer-to-peer currency where this problem is avoided. |
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I think there are a few large actors selling stolen coins which is driving the market down and spooking some of the smaller players, who are then also selling. The security breaches of late aren't helping either, and many people probably feel more comfortable having their assets in a traditional bank. The lower prices have given me an opportunity to buy back some of the coins I wish I hadn't sold, so I'm not complaining. Until someone comes out with a better decentralized, peer-to-peer currency, I'm not going anywhere. We will eventually work through the problems.
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You can buy a Green Dot card at Walmart/CVS/etc. and use it to buy BTC from someone (like me) who accepts them. Or, try to find a naive soul on #bitcoin-otc.
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Who exactly is Tobias Lloyd, and could he be Tom Williams?
He could be Tom Williams as much as you or I could be. Well, even more so since he would have a reason to certify his own key. |
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Who exactly is Tobias Lloyd, and could he be Tom Williams?
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Forgive me for getting a little off topic, but it is because of a preponderance of regulations such as this that the U.S. economy will remain in a recession for the foreseeable future. Who wants to bother starting a business (or engaging in any commerce, really) when you have to comply with myriad regulations and have to be continually leery of missteps that can land you in prison? It's much easier to just stay at home and collect a check from the government.
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What's with the long series of regular, ~5000 BTC transfers?
I'd say these are legitimate coins being moved by a large pool or exchange. It's a steadily-tapering amount that's now down to about 400 BTC per transaction. |
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What's with the long series of regular, ~5000 BTC transfers?
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Zong is centralized, so it can be controlled by Ebay/government/whomever. It has nothing on Bitcoin.
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Lettucebee, I sympathize with your situation. You may have found one of the threads I started when you did your forum history search for MyBitcoin-related threads. I've had various problems with them over the last 8 months. I don't really believe the owner/operator of the site is trying to scam people though. He's probably just overwhelmed with the level of work required to maintain a free site. I've suggested that there is a market opportunity for a fee-for-service version of MyBitcoin. Maybe make it free to hold personal wallets but charge businesses for the API. At any rate, I hope you recover your coins.
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I don't need any more PSUs, but I did want to mention that I've got Ultras in 5 of my miners and they have been extremely reliable. I've been pushing them right to the rated limit, too.
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I don't see any way to deposit/withdraw BTC. I didn't actually sign up though.
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A new, "better" currency isn't going to displace Bitcoin overnight. It too will have to bootstrap an economy before it's viable. That's the hard part, and Bitcoin is already progressing towards it. And in the event a competitor comes along, you can always trade your Bitcoins for it.
I'm actually looking forward to Bitcoin competitors. It's the only way we are going to sort out the questions that constantly come up on the forum like "wouldn't it be better to have a constant rate of coin generation?" or "how can we remove the advantage that early adopters have?" or "why do we have to waste so much electricity?" These critics need to start writing code and prove that their solution is better by getting more people to adopt it. |
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Buy and hold, averaging in through the peaks and valleys. That is how you make your money when you're in this early, not quick trades. Bitcoin is a long-term growth play, and a hell of a promising one at that. Any talk of a bubble is nonsense when 99% of the population either hasn't heard of it or thinks it's a joke.
Dollar-cost averaging would probably be a good way to play this market, i.e., invest the same amount of fiat currency on a regular basis. For example, buy $100 worth of Bitcoins each week at whatever the market value is at the time. This way, you limit your exposure when the market is overbought and pick up extra Bitcoins when it is oversold. |
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I'm still not clear on HOW this type of change would get instituted into the system...if a hallmark of bitcoin is that it is set in stone...then HOW could a change to additional decimal places even be allowed (however trivial of a change it is.)
Nothing is set in stone. If a majority of miners decide to adopt a change, it will happen. Something like adding resolution to the currency would be an easy sell. |
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Yeah, triple digits really put the brakes on Apple and Google.  |
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Nice essay. My philosophy has been to sell/spend 50% of my mining proceeds. That way, I'm not hoarding and driving the price up nor dumping and driving it down. I've covered my equipment investment costs but still have some coins should Bitcoin continue to do well. I do kinda regret all those coins I sold for less than a buck though.  |
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Nice job, Bruce. One thing though, it says "This commission ranges from 0.25% to 0.75% of your sale and can be found in your user profile." How do I get to my profile? The commission is not listed in the Dashboard.
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