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561  Bitcoin / Bitcoin Discussion / Re: Google "Bitcoin" on: May 21, 2015, 12:10:43 PM
I'm okay with both actually. But I guess when bitcoin first started, it would make more sense to provide the simplest explanation and by now, with popularity gaining traction, I don't think it would be so difficult to put into it more words to help people understand bitcoin better.
562  Bitcoin / Bitcoin Discussion / Re: IBM Bitcoin Rain on: May 21, 2015, 12:04:49 PM
That's super cool and indeed a nice and creative idea to promote bitcoin. I remember seeing the same app before which was promoted in dogecoin forum but I guess when you have bitcoin, it will really get more attention that it deserved. It's definitely what we need to get the words out on bitcoin.
563  Bitcoin / Bitcoin Discussion / Re: Bitcoin wedding rings! on: May 21, 2015, 12:01:00 PM
Looks fancy to me. I imagine it would be worth something if there's really tons of bitcoin in that account and I'm sure ladies these days are particularly interested about how much wealth you have to offer. And that's bitcoin in there.  
564  Bitcoin / Bitcoin Discussion / Re: What is Bitcoin to you??? on: May 21, 2015, 11:55:04 AM
I see in it "Hope" that one day bitcoin will emerge as the alternate currency replacing all the fiat money. That within, lies the answer to all the fiat dilemma that is plaguing the society for decades, cheating people along the way and robbing honest people of wealth.
565  Other / Off-topic / Re: What do you do with your btc? on: May 21, 2015, 11:49:46 AM
People who sell it for quick cash obviously don't see the long term potential on what bitcoin has in store. If one day bitcoin turns up to be a total failure, then who cares if it did, because I'll be losing probably few hundreds compared to multiple times that I would have made if I continue to hold on and gamble on its future.
566  Bitcoin / Bitcoin Discussion / Re: "In 5 or 10 years I think every online retailer will accept Bitcoin." -Gavin on: May 21, 2015, 11:45:40 AM
At this point, anything is still possible especially when we are referring to bitcoin. Things are so dynamic that when we are talking about a year or two time period, that is already considered long. I definitely see things changing for the better in 10 years time.
567  Bitcoin / Bitcoin Discussion / Re: What Does The CryptoWorld Needs Now? on: May 19, 2015, 11:03:41 AM
Less of these altcoins would be better. The more there is the more people get confused on which coin is better and eventually does nothing good in terms of helping bitcoin reputation. If only there is a way to block off these coins for good. I think we are talking about trust and the confidence we need to instill to tell people bitcoin is the alt currency.
568  Economy / Speculation / Re: Peter Bofinger A Cashless Germany Bitcoin replacing Fiat in germany soon ? on: May 17, 2015, 11:48:57 AM
The first thing that would thrust people's mindset into accepting change and finally adopting bitcoin and its cashless concept is mostly, I would say being driven by the instability in the euro. I imagine if there is another collapse, people would finally realize the true potential of having a decentralized currency and decide which one is really the true money.
569  Economy / Speculation / Re: You are a bitcoin ponzi victim ! on: May 17, 2015, 11:42:20 AM
It would add more credibility to your claims and statements if you would have posted with your actual bitcoin account instead of creating a new one. And since you didn't all I can say is that I would rather trust the next person that tells me that bitcoin has a future rather than believing what you have to say. Tons of people can't be wrong and there are tons and tons more investors and new bitcoiners joining every day. I hope you have considered that.
570  Economy / Speculation / Re: Do you really think bitcoin price will pump to 1000 dollars after.... on: May 17, 2015, 11:37:28 AM
NO and that is a big N. I imagine price would slightly correct itself and pointing towards the upside and that's basically about it. Most of the time, I think we are overly optimistic (sometimes try to be realistic) because "supply factor" alone would not push it so greatly. It would create that bigger impact IF and only IF you have a big adjustment as well on the demand side.
571  Economy / Speculation / Re: Bitcoin price movement on: May 17, 2015, 11:29:58 AM
While it can be explained by the supply and demand factor, sometimes it could be also affected by traders speculating on the price movement. But whatever it is, current price reflected in the market is basically what the buyers and sellers would agree upon to exchange and conclude the trade. People outbidding each other basically is driven by how many new coins getting introduced or maybe some sellers decided to quit while buyers are basically people who trust the system and decided to acquire more coins. There are many factors but as I've said, it still goes back to the supply and demand core principle.
572  Economy / Speculation / Re: Nasdaq is not going to use Bitcoin on: May 17, 2015, 11:24:43 AM
Another one of those newly created account meant to spread fud. To counter the statement, Nasdaq can use bitcoin and most likely they will do it to incorporate into it via use of colored coins. It is something like ownership of shares being documented and written to the blockchain for them to claim it. Imagine it would work like counterparty
573  Economy / Economics / Re: Let's Say the Stock Market Corrects.. on: May 17, 2015, 11:20:11 AM
What if a 2008 style correction happens again in the next year or two. Would the price of Bitcoin go up or down?

Nobody knows, but till now there have been no correlation, positive or negative, between bitcoin and stocks.


Unless few scenarios happen.
1) people perception on bitcoin change. They see it as a stable and dependable currency. Also as a worth investment
2) bitcoin has gained mainstream status and there is a niche for it. Most probable area I think it would excel is for the use on cross border transaction
3) the price is moving on an uptrend and continue to maintain it that way. Volatility is not an issue, businesses demand for it.
574  Economy / Economics / Re: Bitcoin should outperform any investment long term wise on: May 17, 2015, 11:15:46 AM
the only problem right now is the supply getting introduced to the market without the corresponding level of demand and thus cause the price to drop. I would see the effect more towards psychological rather than economically inherent because basically if you have price decreasing, that would give impression to people that bitcoin is nothing other than an unstable, worthless currency which you can't depend on. Bitcoiners would understand that although I have doubt that not many people outside the circle of community here, would think and look it that way
575  Bitcoin / Bitcoin Discussion / Re: Accepting Bitcoin in a Bricks and Mortar Shop on: May 17, 2015, 11:08:35 AM
Hi,

I run a retail shop in the UK and I am considering accepting Bitcoin.

I don't really understand how to do it.

I know I can create a QR code but do I need a QR code for each item I sell?

So, the customer comes in and wants 3 things, how do I do it?

Sorry if this makes little sense.


The QR code can contain and translate into whatever information that you set into it. Imagine having something similar like bar code. For instance, whatever word that you type here in this website http://goqr.me/ will actually translate into the corresponding QR code.
For instance you can set the price into every product so when it comes to the cash registrar, have the attendant scan through the pricing and then tally everything up to the total amount that the customer need to pay.
From there, assign another QR code which would be the bitcoin payment address and have the person make payment by sending bitcoin to that address. I hope I've explained that.
576  Bitcoin / Bitcoin Discussion / Re: Bitcoin and the Blockchain | A reflection on the current state of bitcoin on: May 17, 2015, 10:53:10 AM
Company A has is part of NASDAQ’s pilot project.

Ownership of the shares for Company A is documented onto the blockchain.

X amount of bitcoins are then ‘colored’ to represent the corresponding shares for Company A.

-   This will most likely be done through a protocol similar to Counterparty (XCP)

Ownership of those colored bitcoins would also represent legal ownership of the shares for Company A.
 
Afterwards, all transactions pertaining to the shares for Company A can be processed through blocks without need for an intermediary between two peers. Keep in mind that this project relies on bitcoin’s blockchain and therefore is subject to both bitcoin’s strength and weaknesses. This upcoming project along with its pending success has several implications for bitcoin’s value and security.

Initially I thought the Nasdaq project was meant to extract only the blockchain technology and leave behind bitcoin. But as far a I understand, after reading further on what they are trying to achieve, it should overall be positive. I mean it would be good depends on how it gets implemented.
577  Bitcoin / Bitcoin Discussion / Re: I am 90% sure that "EhVedadooAnonimato" is Satoshi on: May 17, 2015, 10:41:37 AM
Even if he is satoshi what are we supposed to do about it? Make him confess and ask him about the holy grail method to actually hack and control the network. I don't know why the paranoia about finding satoshi seems to be gaining momentum lately but I can't seem to grasp and understand the motive behind it. Can you explain?
578  Bitcoin / Bitcoin Discussion / Re: Bitcoin Extremists Target Bank of China on: May 17, 2015, 10:34:00 AM

(Hong Kong) — Foreign bitcoin terrorists no longer content with pilfering small business owners and private citizens, have now turned their attention to more lucrative targets.

"The case has been classified as blackmail and will be investigated by the Cyber Security and Technology Crime Bureau. Preliminary investigation suggests the attacks were launched from multiple countries."

Police confirmed that those behind the attack demanded payment in bitcoin following a DDoS warning attack, during which the banks website was flooded with significant amounts of traffic in order to interrupt access by bank customers. The police spokesperson said the threats included promises of future attacks.

Bitcoin is hugely popular among cyber criminals, illicit drug traders, and international crime syndicates, because of its potential to allow transactions to remain anonymous when used properly.


The inventor of the popular digital currency remains missing after vanishing with over 1 million bitcoins he mined while holding the lion’s share of the network hashing power. Bitcoin adopters are praying he doesn’t dump those coins on the market which could crash the price and crush the dreams of its many followers.

The last time Satoshi communicated privately he wrote, “I’ve moved on to other things and probably won’t be around in the future.”

The statements are kind of misleading. Other than that, overall when I read the article, instantaneously I would imagine the first impression a newbie would get is bitcoin is some kind of scam activity with no good intentions. I wish something could be done on that. And also it worsens when the so-called attacker demanded that they get paid in bitcoin, that adds on further to the negative side.
579  Bitcoin / Bitcoin Discussion / Re: Why is no one uses bitcoin.com on: May 17, 2015, 10:29:20 AM
The first thing that came to my mind is how much money the guy would have made if he decided to monetize the site. I mean, the list are endless like marketplace, trading site, exchanger or even a wiki page with ads on it. But never mind, at least I'm glad that it didn't fall into the hands of a person who would misuse it.
580  Bitcoin / Bitcoin Discussion / Re: Purchasing Bullion with bitcoin on: May 17, 2015, 10:18:39 AM
If you are setting up bitcoin payment option, make sure that you have discount with the price of your item lower when paying with bitcoin compared with payment with credit card. Using bitcoin is almost complete zero fee. I hope you have taken that into consideration. That's what the community hope to see in the first place.
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