481
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Bitcoin / Bitcoin Discussion / Re: Potential obstacles for mass adoption of BTC
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on: October 04, 2012, 05:28:43 PM
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The biggest obstacle? Infinite stupidity, of course!
I'm downloading the blockchain right now, it seems to be "more infinite" than stupidity. And this is the biggest obstacle. hmm.... perhaps someone needs to set up "donwload 1 hour old blockchain in 5 minutes" service... steal this idea.
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483
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Other / Off-topic / Re: Bitcointalk is coming back to the front page of Google results for 'Bitcoin'
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on: October 04, 2012, 09:37:51 AM
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I get it near the top of page 3 Google lies to everyone. Indeed they are. Love it or hate it but bitcointalk does deserve a spot on the first page of search results for "bitcoin". Too bad that G was driven insane recently by SEO guys. According to SEO people advising me the latest iteration of G algo makes no sense whatsoever, quality of SERP's is very bad. G basically brings random low quality websites on top while burying hiqh quality authority websites. G reportedly slowly comes back to its senses after the last update but not by much so far. Too bad that they have sacrificed search results relevance in favor of hell knows what. One suggestion I heard is that they make more money on ads by having worse search results quality and thus pushing people to click on paid ads (that are suddenly more relevant than natural search) and by making people click on pages 2 3 4 etc... in search of something relevant.
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484
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Bitcoin / Bitcoin Discussion / Re: If Bitcoin ever did go completely mainstream...
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on: October 03, 2012, 11:54:03 PM
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If Bitcoin ever did go completely mainstream and actually succeeded in killing off some fiat currencies, it would make just about every person on this forum incredibly wealthy. The new wealthy elite would be roughly 95% male, and dominated by geeks/nerds/libertarians/smart people.
Speculate on how you think this would affect the world we live in. What would be different vs today's world?
I would speculate that most geeks/nerds/libertarians/smart people will not be able to resist temptations and will not be able to run the marathon, most will be sprinters and will sell out most or all BTC holdings way under 1000$ per BTC to the banksters.
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486
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Economy / Speculation / Re: RALLY!!!
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on: October 03, 2012, 08:31:37 PM
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Last rally I called went from 5 to 15$. Let's see if history repeats itself and we hit 36$ before long. Perhaps soon after the block subsidy change event.
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489
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Economy / Speculation / RALLY!!!
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on: October 03, 2012, 12:41:51 PM
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Rally thread brought to you by popular demand.
To add some content: I still think that buying BTC as long term investment beats mining investments hands down. At this time this opinion applies to CPU, GPU, FPGA and ASIC based mining. For what it worth.
The above opinion has not changed since I have expressed it privately and publicly in May-June 2012 when BTC was around 5$.
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491
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Other / Beginners & Help / Re: ASIC Mining Soon to Be Unprofitable??!?!
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on: October 03, 2012, 06:23:03 AM
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For what it worth. There were a few very very good reasons I quit the mining game.
was it because I outbid you on the FPGA rig LOL, Will, congrats on winning that auction. Should I have won it I would simply resell it next day most likely. Easy 100-200 BTC.
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493
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Economy / Economics / Re: Why are people running around saying Bitcoin is intangible / not backed?
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on: October 02, 2012, 05:26:29 PM
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The US dollar is not backed either.
This is not exactly correct. I would say that USD is backed by US armed forces. One could say that USD and most other fiat currencies are backed by future tax revenues to be confiscated from enslaved population of corresponding country or political block. I would also say that Bitcoin is backed by The People, i.e. you and me and everyone else who accepts and pays in Bitcoin.
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496
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Bitcoin / Bitcoin Discussion / Re: 2 Million unspent pristine bitcoins
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on: October 02, 2012, 03:20:34 PM
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I just ran a quick analysis on the blockchain.
Out of the 192386 blocks currently mined, very many of them have a BTC 50 block reward that has never been spent.
To be exact, 41493 blocks have an unspent reward.
That is worth approximately BTC 2'074'650.00 (not counting fees).
That's 2 Million+ pristine coins hoarded, or about 20% of the BTC market cap.
Lots of smart people around here. or: lots of extremely careless ones (although I doubt it) nahh it is a nobrainer. like buying a call option (with say 10-20 years before expiration) or shares of a 5$ stock (with known dillution schedule) that has decent chances to go to 10 000$. and with no counterpart risks. Just try to value Bitcoin like a stock. It easily worth 100-200$ right now.
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497
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Bitcoin / Bitcoin Discussion / Re: 2 Million unspent pristine bitcoins
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on: October 02, 2012, 02:24:38 PM
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I just ran a quick analysis on the blockchain.
Out of the 192386 blocks currently mined, very many of them have a BTC 50 block reward that has never been spent.
To be exact, 41493 blocks have an unspent reward.
That is worth approximately BTC 2'074'650.00 (not counting fees).
That's 2 Million+ pristine coins hoarded, or about 20% of the BTC market cap.
Lots of smart people around here.
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499
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Bitcoin / Bitcoin Discussion / Re: Bitcoin -> MasterCard (or any credit card)... who cares?
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on: September 30, 2012, 02:03:42 PM
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Whatever trolls say, bitinstant cards and other such services are very valuable and useful. I am looking forward for competition in this area and lower fees.
I cannot wait when I could get every Bitcoin Magazine contributor and contractor such a card and stop having payoneers and paypals and other such services requested as payment methods. So that we could pay either direct in Bitcoin or in Bitcoin to such a card.
I would also use it for most purchases I do for Bitcoin Magazine. (assuming fees are reasonable)
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