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941  Bitcoin / Bitcoin Discussion / Re: My bitcoin business card for the conference on: May 15, 2013, 05:04:57 PM
That's pretty cool, wondering how people would react if we would show up ripped, shredded and with two blondes wearing our outfits, it's pretty cool meeting dorks but I'm afraid same thing will happen as with Bitcoin Conference 2011



I guess the economy went through so much since then....

Heh. Nice photoshop there Smiley

I didn't go to the 2011 bitcoin conference, and after the whole Bruce Wagner melt-down, I'm glad I didn't.

Update on the business cards: The tracking number says they were left at my front door, but I never got the package. I suspect UPS probably left them at the wrong house. I doubt Zazzle can get me replacements by tomorrow, but we'll see what they do.

No cards, no potato. I sad. Sad
942  Bitcoin / Bitcoin Discussion / Re: My bitcoin business card for the conference on: May 10, 2013, 10:10:33 PM
Update: Zazzle cancelled my order. They noticed that I hadn't changed the back at all from the default. Oops! I submitted the order a second time, and this time the back of the card has a QR code for my email address with my printed email address below. Awesome - I didn't even know I was getting a 2-sided card!

Here's the new back:
943  Bitcoin / Bitcoin Discussion / Re: My bitcoin business card for the conference on: May 10, 2013, 06:39:20 PM
As a card for conferences it's pretty sweet.  Clear and complete, with just a little complexity to start conversations.

Although for day-to-day my preference is minimalistic - mine just has my name at the upper left, and "At Reasonable Prices" at the lower right.  Anything else is contextual and I write it in.

My prices are never reasonable, so I'd just have to have my name only Smiley
944  Bitcoin / Bitcoin Discussion / Re: My bitcoin business card for the conference on: May 10, 2013, 06:03:58 PM
"Computer Software Programmer Developer" sounds a little silly

Yeah, obviously I changed that as shown above
945  Bitcoin / Bitcoin Discussion / My bitcoin business card for the conference on: May 10, 2013, 05:35:39 PM
The bitcoin conference is going to be a stellar place to network with other people involved in exciting projects who might be future colleagues. At the last minute, I decided I couldn't live without a business card to hand out. Here is what I ended up with using Zazzle (starting from this design: http://www.zazzle.com/formal_elegant_computer_programmer_designer_business_card-240148101875111713):



I selected 1-day shipping just to be sure I get it in time. What do you guys think?

Update: Zazzle cancelled my order. They noticed that I hadn't changed the back at all from the default. Oops! I submitted the order a second time, and this time the back of the card has a QR code for my email address with my printed email address below. Awesome - I didn't even know I was getting a 2-sided card!

Here's the new back:

946  Economy / Speculation / Re: Wall of Fame: Quotes of Bold Predictions on: May 03, 2013, 07:30:45 PM
Bah. Quotes made right now are boring. Put your money where your mouth is. I use betsofbitco.in

Now OLD quotes are interesting. Here's my official prediction I made on May 11th, 2011, almost two years ago:

I have a background in trading speculative stocks, and I can tell you that this kind of speculative price explosion usually collapses back to nearly nothing eventually (thanks Timothy Sykes).

However, I have my own reasons for believing that bitcoins won't collapse, and may in fact reach the astronomical values people are dreaming about. I'm keeping those reasons to myself for now until I get a chance to gather more bitcoins.

$1000/bitcoin won't make me filthy rich, but I might be rich enough to quit my day job and devote the rest of my life to ministry, raising my kids (and maybe foster kids?), and developing bitcoin-powered websites.

I'm going to step out on a limb and make some predictions about bitcoin price increases:

1) A lot of kids with graphics cards are going to get a LOT of spending money just because they saved the few bitcoins they mined after reading about it in a forum somewhere
2) The term "bitcoin billionaire" is going to become somewhat commonplace, and will refer to someone who became a billionaire through bitcoin investment.
3) The world's first trillionaire (by USD valuation) will be one of the first big investors in bitcoins.
4) This will all happen WITHOUT the collapse of the US dollar, and without bitcoins becoming a commonplace way to pay at the grocery store.

I guess we'll see if I'm right.

Note for posterity: current bitcoin price is in the $5-$6 range after a big run-up.

I still stand by that prediction completely. Edit: actually, I'm not so sure about #4 anymore.

947  Economy / Service Announcements / Re: [blockchained.com] forum top16, news, charts on: April 24, 2013, 02:50:48 PM
I, for one, like the black background. It matches my heart.

If you are looking to make changes, it would be nice to have more articles on the list, or at least the option to choose the number.

The list is SO much more useful than trying to go to the forum and try to figure out what is going on. Thanks for doing this.
948  Other / Off-topic / Re: New BitCoin Comic on: April 24, 2013, 02:43:55 PM
Wow - that looks really cool.
949  Economy / Speculation / Re: mtgox claims $5 to $20 million per day incoming funds... on: April 23, 2013, 09:48:08 PM
People, you are grasping at straws and you are sheep.

Relevant XKCD:
950  Bitcoin / Bitcoin Discussion / Re: Bitcoin's Dystopian Future on: April 22, 2013, 11:07:43 PM
A young man living in freaking San Jose in 2013 thinks life is "bleak"...
Dude, you need to see your pastor or psychiatrist or witch doctor.

My life (in Seattle) is actually quite nice. It's the future of Grandma and everyone else that I'm worried about.

You are falling into a self fulfilling trap of despair; research Medieval Europe and the Enlightenment that came out of it, we are transitioning and yes there are problems - these problems are the result of malinvestment, and will be hard for some to deal with, but most people in the world live with some of the problems you describe daily, and that innocent grandmother who did nothing wrong, she is not so innocent, she drove a car, bought tiers for that car, the rubber for which came from the Congo in a time like the one you describe, only she indirectly funding an unjust global system she didn't take the time to research, had she, she would have seen Bitcoin as a way of elevating that extreme poverty and bought in now.  

You are projecting while maintaining the same base, the world will change community will become stronger, huge impersonal cities will be relics, but with an educated population with imperial knowledge readily available the transition to the new enlightenment (Eckhart Tolle: A New Earth) will unlikely resemble anything from the medieval dark ages.  We will have to adapt and that will look uncomfortable to some, but to about 3% of the population - not involved in Bitcoin this will be the opportunity of a lifetime.

There were some other authors I would recommend but I can't remember who they were (I just heard a book review / summary in a podcast interview), but they define generational evolution in society as seasons.  Great well researched (historically speaking) with very heart worming projections.

Try applying some of that insight to your thought experiments.  
Sounds interesting, but . . . heart worming projections?!
951  Bitcoin / Bitcoin Discussion / Re: Bitcoin's Dystopian Future on: April 22, 2013, 01:36:04 PM
A glimpse into the dystopian future after the rise of bitcoin:


I'm sorry, just couldn't resist.


I know I shouldn't laugh at that, but I did.

Other than that, I'm kind of surprised at the high quality of thought and discussion going on here. Thanks everybody who chimed in. Some of you actually made me feel a tiny bit better Smiley
952  Bitcoin / Bitcoin Discussion / Bitcoin's Dystopian Future on: April 19, 2013, 06:05:11 PM
I have seen the future of Bitcoin, and it is bleak.

The Promise of Bitcoin

If you were to peak into my bedroom at night (please don’t), there’s a good chance you would see my wife sleeping soundly while I stare at the ceiling, running thought experiments about where Bitcoin is going. Like many other people, I have come to the conclusion that distributed currencies like Bitcoin are going to eventually be recognized as the most important technological innovation of the decade, if not the century. It seems clear to me that the rise of distributed currencies presents the biggest (and riskiest) investment opportunity I am likely to see in my lifetime; perhaps in a thousand lifetimes. It is critically important to understand where Bitcoin is going, and I am determined to do so.

My hundreds of hours of thought experiments have been productive. I published a whitepaper about the future of Bitcoin, and because of that paper I’ll have the great privilege of sitting on the “Bitcoin in the Future” panel at the 2013 Bitcoin Conference in San Jose. Through these years of deliberation I have satisfied myself that the answer to the “Trillion Dollar Question” of whether any form of distributed currency can ever achieve a stable price, is “yes”. (There are three ways this will happen, as I have written elsewhere).

I have been predicting for years that the world’s first trillionaire by USD valuation will be an early investor in distributed currency — quite possibly Satoshi Nakamoto, whoever he/she/it/they may be. I own a few bitcoins, and I intend to keep them until I find a more attractive investment (that is, I want to invest in whatever replaces bitcoin or builds on top of it).

To many people, this sounds like an implausibly rosy future, and for early adopters that is true — it feels like winning the lottery every day. However, for most other people, the ascendancy of distributed currency systems will feel like a disaster. If you are involved in Bitcoin now, you should prepare to be almost universally hated someday.

In this article, we will examine a few simple thought experiments to show how the rise of distributed currencies such as bitcoin could create massive social upheaval due to governments’ rapidly degrading capability to fulfill their core functions of taxation and regulation of commerce. We’ll see how the end result could be extremely painful for common citizens due to previously unimaginable wealth disparities, hyperinflation of previously stable government-backed fiat currencies, and a greatly empowered criminal class.

The Bleak Future of Fiat Currencies

Anarchists and hardcore libertarians love Bitcoin, but most people outside those circles are not in favor of completely doing away with their government. If you aren’t part of a fringe political movement, chances are there is something the government does that you like, whether it’s handing out entitlement money, killing enemies, putting people in prison, building dams and roads, funding research, or any number of other things. The government can do these things because the government can collect taxes, which in turn they can do because the flows of money are highly regulated and tracked at every level. Whether you are collecting a paycheck, buying furniture, cashing out investments, or simply dying and leaving an inheritance, the government knows about it and takes a cut.

For our first thought experiment, let’s imagine a world where distributed currencies like bitcoin have become wildly successful due to technological advances which make them easy to use and completely stable. In this world government-issued money is as good as dead. It may take a few years for everyone to realize it, but there will come a point when the ever-increasing outflows of money from fiat money into untaxable, unseizable decentralized currency will reach a tipping point, and we’ll have a financial panic like the world has never seen. Frightened lawmakers and banks will try to stop people from cashing out, but that will just increase the panic. Those who don’t get out before the door closes will be in dire straits indeed. This is the ultimate bank run — the run on the world’s central banks, and who could possibly step in and restore order?

When people think of hyperinflation, they usually envision a Zimbabwean printing press running around the clock in the dark corner of a mud hut, putting ever more zeroes on cheap paper. Has it ever occurred to you that hyperinflation can happen while the printing presses are off? The value of the money in your pocket is not ultimately guaranteed by your government, but by simple supply and demand. The government controls the supply, and we control the demand. If demand falls precipitously, we have hyperinflation without ever needing to print another dollar or euro. If people start fleeing government currencies en masse, hyperinflation is the inevitable result.

The good news is that you don’t need to worry about current government debt in this scenario. If government currencies lose their value rapidly, debts which previously seemed overwhelming suddenly become much more manageable. Perhaps your debt-laden government will someday completely pay off it’s national debt by simply selling a few gold bars and a couple national parks.

The Bleak Future of Retirement

For our next thought experiment, let’s consider what will happen to Grandma. For her whole life, she has carefully saved her money, and now she is living in reasonable comfort. She gets money and health care from the government, and she has her own savings to fall back on. Grandma has done everything right, including taking her savings out of the stock market; most of her savings are now invested in the safest asset known to man: U.S. Treasury Bonds.

Rather suddenly, things start to go wrong. At the same time all her expenses start skyrocketing, the government has a liquidity crisis; they are having trouble collecting taxes and can no longer pay for her health care. Her savings are still “safe” in the sense that she will get U.S. Dollars out of them, but that is little comfort when those dollars which should have lasted years can barely pay her weekly grocery bill.

Grandma’s retirement has been sabotaged by the rise of a new kind of money that she can’t even begin to understand. All she knows is that she did everything right, and now she has nothing.

The Bleak Future Wealth Disparities

All the world’s wealth has essentially been stolen, but by whom? By you, dear reader.

We’ll be very lucky if we aren’t all rounded up and summarily executed. Thankfully, you’ll be able to use some of that money to purchase protection, but I’m not at all convinced that it will be enough. A wrathful government backed by an enraged population is a fearful enemy. Satoshi foresaw this long ago, and I doubt he/she/it/they will ever voluntarily come into the light.

If there are enough of us, and we are very careful and charming, we may be physically safe. However, the massive displacement of wealth will still have some awful consequences. People argue all the time about the societal benefits and drawbacks of wealth disparities, and the rise of distributed currencies will create disparities that previously did not seem possible. It seems clear that there will be a lot of jobs created by the new wealthy, but whether the average person is better off or not, one thing is sure to rise: resentment. What right do we have to take all the wealth of the world and put it in our pockets? Sure, a nifty new idea should pay off for early visionaries, but nobody ever expected a new idea to suck all the wealth out of the world like a financial black hole!

The Bleak Future of Law Enforcement

This is where things get really bleak. Currently distributed currencies facilitate money laundering, black market commerce (the Silk Road), and insider trading (TorBroker). These applications in their current form are just a snowflake on the tip of the iceberg. Not only will they get MUCH bigger, but we will see applications which are much less savory. Historically, the “Dark Net” accessible by Tor and private networks has been nothing more than a hidey-hole for illegal files and a hangout for paranoid schizophrenics, but it is quickly becoming the platform of choice for large-scale illegal commerce.

For this thought experiment, we will imagine that your child has been kidnapped and put up for sale on “TorSlaver”. Their business plan is to kidnap children and sell them to the highest bidder, whether parent or pedophile. The winning bidder is sent the location of the child, probably bound and gagged and dumped somewhere. As long as they don’t get caught doing the kidnapping, the kidnappers can do this again and again with complete impunity. Once someone proves it can be done, copycats will come out of the woodwork, and it won’t matter if the first mover gets caught.

As a parent of three small children, I cannot describe to you how awful this makes me feel. I have always been a very reluctant bitcoin investor, for this very reason. I don’t invest in bitcoin because I think it will bring about a happy utopian world. Quite the opposite. I invest in bitcoin because the rise of distributed currency is inevitable, and owning some bitcoins seems to be the best way to prepare for the chaos ahead. And just maybe, if I position myself correctly, I can make things a little less awful.

The Government Strikes Back

Does anyone really expect the government to sit back quietly and watch while their currency is debased, terrorism is funded, and children are kidnapped? The only question is when and how they will strike back against these forces. While the government does have a lot of options, ultimately those options only slow things down. At some point, we collectively with our governments face a difficult choice between trying to survive this deadly storm or attempting to destroy all decentralized computer networks (including the internet). The former seems unthinkable, the latter, impossible.

I wouldn’t be surprised if this chaos gives rise to a strong, centralized, one-world government which gets its revenues by tightly reigning in freedom of commerce in order to collect taxes. For instance, I will not be surprised to see a requirement someday that every person buying or selling have an implant which tightly binds their identity to the sale. Perhaps the implant will even be located on the back of the right hand or the forehead! This may seem repugnant to you now, but wait until you have lived in the storm for a while before you call it impossible. The natural reaction to the deadly chaos of decentralized currency is for the populace to embrace increasingly centralized controls on commerce. The battle lines are only just starting to be drawn, and your guess is as good as mine for how it will play out.

What Should We Do?

We need people thinking about this. I’ll admit that many of the things I wrote about may not happen at all, or may happen very differently than I imagine. However, there are lots of people touting the fantastic benefits that bitcoin and its children can give us, and I don’t see anybody talking about how bad things could potentially get.

We need solutions. When the government finally starts taking decentralized currency seriously, it will probably be doing so in a state of panic. We need to be advising governments now about how they can survive the storm and protect their populace. We need to think of ways the government can pay for its most critical operations, and what legislation makes sense to mitigate these new risks while preserving as much freedom as we can.

The Lifeboat Foundation is attempting to provide this thinking, advice, and solutions. They are already getting ready for a new advisory board, culled from computer scientists, economists, and bitcoin experts. If you make a fortune from your investments in decentralized currency, I urge you to consider how you can help all the people harmed by these rapid changes. Many bitcoin enthusiasts seem to think they will get to retire on a private island with a harem and a stable of Italian sports cars. This is wrong. Bitcoin investors need to someday become bitcoin philanthropists, and our giving needs to be targeted at helping all the people we have harmed. The Lifeboat Foundation is one option, but I’m sure there will be others.

I first published this article on the blog of the Lifeboat Foundation: http://lifeboat.com/blog/2013/04/bitcoins-dystopian-future
Reddit version is here: http://www.reddit.com/r/Bitcoin/comments/1cos8x/bitcoins_dystopian_future/

tl;dr: Wildly successful distributed currencies could hurt a lot of people.
953  Alternate cryptocurrencies / Altcoin Discussion / Re: StableCoin on: April 17, 2013, 03:02:49 PM
How can we have a decentralized currency with stable prices? This is what I call "The Trillion Dollar Question", and I have spent hundreds of hours thinking and writing about this topic. I wrote a paper about it, and I'll be on a panel at the bitcoin conference in San Jose in May to talk about it.

Here is what I currently tell people (copied from another thread):

You have just asked the TRILLION-dollar question. If someone does manage to create a distributed currency which also achieves good price stability, the biggest barrier to distributed currency adoption will have fallen, and the world will be changed forever.

I have thought about this topic endlessly, and I wrote a paper about it. I have some very important news for you, so please pay attention:

Bitcoin, or something like it, CAN provide price stability. There are three ways this could happen:

  • Friction: This is the default answer for most bitcoin enthusiasts, and I believe I have heard Gavin himself espouse this view, although I can't find the quote. If enough merchants and businesses support bitcoin, it becomes harder and harder for the price to swing around wildly, because there are so many goods and services available for buying and selling denominated in bitcoins. Friction stability is a long LONG way in the future, if it ever happens at all.
  • Colored coins: If I buy a warehouse full of gold, I could annoint a few Satoshis (the smallest unit of bitcoin) as being worth 1 ounce of gold each, and then sell them. People could then engage in trade, buying and selling things denominated in gold using these "colored bitcoins" I created. I would agree to purchase back these tokens on demand for the current price of gold. I could do the same thing with U.S. Dollars or any other currency or commodity. The disadvantage of course is that people would have to trust the issuer. Incidentally, this is almost exactly the model used by Ripple, but running on top of the bitcoin protocol. I could imagine this working rather well if a reasonably trusted entity such as MtGox started selling them. The development effort for colored coins can be found at Bitcoinx.org
  • Self-Stabilizing Coins: Bitcoin lovers don't like centralization, and while colored coins may someday provide stable value and anonymous transactions, they also require centralized trust in a currency issuer who could betray that trust or be raided by a government entity. Consequently, there will eventually be new currency protocols built on top of bitcoin, much like how HTTP is built on top of TCP/IP. These currencies will provide the capability to create self-stabilizing tokens which leverage derivative markets to maintain a target value. There are probably dozens of different ways to go about doing this. I wrote a paper about one of them. However, nobody has ever actually PROVEN that this could work.

The potential huge market for stable coins built on top of bitcoin is why I own bitcoins and have no intention to sell them in the near future. Colored coins WILL happen. Self-stabilizing coins MIGHT happen. Either way, bitcoin price increases are just getting started.
954  Economy / Speculation / Re: [Poll] The next big exchange on: April 12, 2013, 07:54:14 PM
Tradehill 2.0 should be on the list of options!
955  Bitcoin / Bitcoin Discussion / Re: So... This is how you kill bitcoin. on: April 12, 2013, 01:04:30 AM

This is finally the conversation I wanted to see here at bitcointalk.

Help me figure this out: So what if you peg BTC to an index? Call it BTC/Sht, that is, pegged to the price of all the sh*t you can buy with it.

You take the price of gold, the price of gold, food, gasoline, potatoes, dollars, yen, everything.. and take into account fluctuations, so that if one item starts varying, it has less influence on the index, to avoid manipulation.

Then you make the process of entering data and participating in the calculation of this index a new way to mine (that way ASICs miners aren't the only ones who get to participate in the process of generation of new bitcoins).

This way
a) You make a stable foundation that people can use to trade and save in
b) You provide a way for more people to participate in the generation of new coins, possibly letting new players in. In third world countries with strong currency control, its just as hard to get your hands on bitcoins as it is to get your hands on any other currency, because who wants your fiat, right?
c) You protect bitcoin and users from manipulation

Well, you can't peg BTC, but rather something built on top of BTC. But yes, you could peg these "child currencies" to anything you want, including an index. I suspect just about any set of rules you can dream up could be implemented.
956  Bitcoin / Bitcoin Discussion / Re: The Trillion Dollar Question on: April 11, 2013, 06:42:11 PM
Someone could issue a Chaumian-blinded currency tied to the price of gold (or some basket of commodities) using Open Transactions.  This person could demonstrate sufficient backing for the currency by proving that they control a bitcoin address (using digital signatures) which has an amount of bitcoins in it at least equal in value to the amount of currency outstanding.  Hopefully Monetas or someone else is working on this as we speak.

Sigh. I wish someone would "explain open transactions to me like I'm 5". I've read plenty about it for a long time, but I've never seen it do anything useful, or seen any evidence that it could.
957  Economy / Speculation / Re: 2011 survivors club on: April 11, 2013, 06:39:32 PM
I smiled all the way up to $34 in 2011, then smiled all the way down to $2, then smiled all the way up to $266 yesterday.

Never sold. Still not selling. Still smiling.  Smiley

Why am I smiling this whole time? Because of the Trillion Dollar Question: https://bitcointalk.org/index.php?topic=173536.0
958  Bitcoin / Bitcoin Discussion / The Trillion Dollar Question on: April 11, 2013, 04:55:36 PM
Somebody on Quora asked:

Quote
How could a new digital currency have more stable prices than Bitcoin?

Both from a technical and a market/economics perspective.

It seems like if there was a smart way to prevent wide swings in price of the currency...it'd be much more useful as a store of value. I am not sure how this could be done though. How could that be achieved?

I feel like the frequency that they are issued could vary or something like that but I don't know how that could be managed


My answer:

Quote
Congratulations. You have just asked the TRILLION-dollar question. If someone does manage to create a distributed currency which also achieves good price stability, the biggest barrier to distributed currency adoption will have fallen, and the world will be changed forever.

I have thought about this topic endlessly, and I wrote a paper about it. I have some very important news for you, so please pay attention:

Bitcoin, or something like it, CAN provide price stability. There are three ways this could happen:

  • Friction: This is the default answer for most bitcoin enthusiasts, and I believe I have heard Gavin himself espouse this view, although I can't find the quote. If enough merchants and businesses support bitcoin, it becomes harder and harder for the price to swing around wildly, because there are so many goods and services available for buying and selling denominated in bitcoins. Friction stability is a long LONG way in the future, if it ever happens at all.
  • Colored coins: If I buy a warehouse full of gold, I could annoint a few Satoshis (the smallest unit of bitcoin) as being worth 1 ounce of gold each, and then sell them. People could then engage in trade, buying and selling things denominated in gold using these "colored bitcoins" I created. I would agree to purchase back these tokens on demand for the current price of gold. I could do the same thing with U.S. Dollars or any other currency or commodity. The disadvantage of course is that people would have to trust the issuer. Incidentally, this is almost exactly the model used by Ripple, but running on top of the bitcoin protocol. I could imagine this working rather well if a reasonably trusted entity such as MtGox started selling them. The development effort for colored coins can be found at Bitcoinx.org
  • Self-Stabilizing Coins: Bitcoin lovers don't like centralization, and while colored coins may someday provide stable value and anonymous transactions, they also require centralized trust in a currency issuer who could betray that trust or be raided by a government entity. Consequently, there will eventually be new currency protocols built on top of bitcoin, much like how HTTP is built on top of TCP/IP. These currencies will provide the capability to create self-stabilizing tokens which leverage derivative markets to maintain a target value. There are probably dozens of different ways to go about doing this. I wrote a paper about one of them. However, nobody has ever actually PROVEN that this could work.

The potential huge market for stable coins built on top of bitcoin is why I own bitcoins and have no intention to sell them in the near future. Colored coins WILL happen. Self-stabilizing coins MIGHT happen. Either way, bitcoin price increases are just getting started.
959  Economy / Service Discussion / Re: Petition To Request Mtgox Not Add Altcoins on: April 10, 2013, 09:45:24 PM
signed
960  Bitcoin / Bitcoin Discussion / Re: The smartest article on why Bitcoin won't become the next currency on: April 09, 2013, 02:02:37 PM
The need for a stable distributed currency is very real, and bitcoin does not currently meet that need. However, it will provide us with a platform to build "child currencies" which are stable. Think about how HTTP is built on top of TCP/IP. In the same way, we will build new, stable currencies on top of bitcoin. They will be pegged to dollars, gold, oil, and anything else your heart desires.

I wrote a paper about this future, and if you come to the bitcoin conference in San Jose in May, you can hear me talk about it and ask questions at the "Bitcoin in the Future" panel.

The take-away is that buying bitcoins now is the best way to bet that these "child currencies" will be successful. They depend on bitcoin, and if they are successful, bitcoin values will go up.
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