|
"The best way to buy bitcoins is to buy them 4 years ago."
Vladimir.
|
|
|
|
|
Your possible recourse options when dealing with Bitcoin are rather weak. Bitcoin transfers are irreversible. Police and courts cannot help you unless you can show who the counter-party that scammed you is and have reasonable records to prove your point.
It is not that difficult to protect yourself, however. Exercise common sense, do not deal with scammers (loads of them here), deal only with reputable companies and people, keep good records.
|
|
|
|
This is a very nice rationalization.  You are saying that market is bearish because it is ignoring bearish news. Nicely played. Keep deluding yourself. |
|
|
|
|
These are all fair points. Elevator pitches can be intended to various audiences. However, the term "elevator pitch" originally was referring to a pitch to an investor. This is an elevator pitch that I would give to a an investor. Surely it is far from perfect. These are not easy to write and I surely could have spent more time on it.
I also believe that anything above 3-4 paragraphs is too much for the elevator pitch and anything less is likely incomplete.
You cannot just tell a serious investor some meme and expect to get away with this. This would be plain insulting actually.
|
|
|
|
Yifu has said that those prices were examples based on current difficulty and that the actual price will be based on difficulty when the units go on sale.
It is rather simple. I bet they have a model which tells them at what price ROI on mining is negative over the lifetime of the product and they sell at this price because it is more profitable than doing all the mining themselves. Well... if they are really generous they might drop the retail price a few percent from that. If it was me I would up the price a few percent just to screw everyone, lol. Them citing difficulty as a factor in the price formation is pretty much a proof of the above. |
|
|
|
|
Bitcoin is a decentralized digital currency based on p2p technologies similar to bittorent. No central point of control, no issuer, no administrator, open source software, impossible to shut down, very difficult to confiscate from a determined owner. The system is built using cryptography primitives and designed to have all the properties of ideal money. Namely scarcity, durability, fungibility, divisibility, portability, security. There are some problems with universal acceptance, but it is improving rapidly.
Bitcoin during the last 4 years was undoubtedly the most performing assets/investment on the planet, rising from sub 0.01$ in 2010 to 2-30$ in 2011, lingering around 5-10$ in 2012 and rapidly rising in 2013 to over 70$ per Bitcoin. At the moment about 10 million BTC are issued and this amount will steadily increase closer to 21 millions over the next 30 years. There never will be more than 21 million coins. Coins a re divisible to 8 digits after the dot. If all coins but one are destroyed, the single remaining bitcoin is enough to run world economy on it. The system has mechanisms allowing it to adapt over time and it is able to respond to unknown yet threats.
One does not even need to be online to receive Bitcoin transfers. You can transfer 10$ or 10 000 000$ to anyone with an internet connection for free any time of day or night regardless of any banking holidays and importantly without need to trust any third party. It takes 30 to 60 minutes at most to confirm the transaction. Paypal, Western Union, MoneyGramm and SWIFT network are going to be displaced because Bitcoin eliminated a need for a trusted third party to be involved in process of money transfer.
Most important thing: It works! It is proven already. It is pretty much only a matter of increasing adoption at this point.
|
|
|
|
This is the kind of 'tax' that started the American revolution.
I think the stamp act was much smaller than 10 %. The population was less docile and brainwashed too. They can get away with much more now. |
|
|
|
|
Of course it is. But such thing generally depend on your jurisdiction, which is unknown. Do not ask any permission just start mining.
|
|
|
|
|
Bitcoin is simply correcting a bit closer to fair value after a prolonged period of irrational pessimism.
|
|
|
|
|
The banks lose some on reduced velocity of money and related fees due to some transactions being displaced by Bitcoin. They however compensate it by creating some more money that is always appears on the credit side of their balance sheets and on debit side of balance sheets of everyone else.
Once a significant amount of transactions occur within Bitcoin ecosystem without crossing the borders into fiat world banks will indeed incur some losses or lose some profits.
|
|
|
|
|
Option 1. Wire your funds to bitstamp.net, buy BTC there, withdraw BTC to your local heavily encrypted wallet.
I hope this helps.
|
|
|
|
|
If Bitcoin is too confusing for an average person, which it may be. Then, perhaps, an average person shall wait a year or two and come back when 1 BTC worth 10k$. By that time I am sure more polished tools and interfaces and services will be available so that an average person will not be so confused anymore.
|
|
|
|
http://tavernkeepers.com/grandmother-in-cyprus-receives-valuable-advice-from-russian-economist-grandson/An elderly resident of Pathos in Cyprus has been doing something odd for the past few weeks. Every Friday she goes to the bank and withdraws all of her money, then returns it on Monday. When asked why she gave the following statement to bank employees:
“My son is an economist in Russia and he has been telling me, if something happens with the Cypriot banks, it will happened on the weekend. He told me to withdraw the money every Friday.”
She was laughed at by the bank employees, but now unlike most of the country she has access to her money while the banks in Cyprus stay closed until at least Tuesday of next week. While the Cypriot legislature did not pass a bill that would have taken between 6.75% and 10% of bank deposits, who knows what desperate politicians will do now to get their fix of financial aid from the IMF. At least one person won’t be affected, thanks to a caring grandson.
Tell your grandmas in Spain, Portugal and Italy and elsewhere in EU to withdraw all the money every Friday. 
|
|
|
|
M1 is the the term you are looking for total quantity of currency in circulation (notes and coins) plus demand deposits denominated in the national currency held by nonbank financial institutions, state and local governments, nonfinancial public enterprises, and the private sector of the economy, measured at a specific point in time. National currency units have been converted to US dollars at the closing exchange rate for the date of the information. Because of exchange rate movements, changes in money stocks measured in national currency units may vary significantly from those shown in US dollars, and caution is urged when making comparisons over time in US dollars. Narrow money consists of more liquid assets than broad money and the assets generally function as a "medium of exchange
|
|
|
|
|
What? Have those EUbitches went suicidal now?
|
|
|
|
|
OP is rather transparent. He in some other thread claimed that he has "closed all his longs". Now he is trolling in hopes to affect the price. Try harder.
|
|
|
|
|
Show Posts
