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1701  Bitcoin / Bitcoin Discussion / Re: Wall Street To Bitcoin: Does It Really Matter? on: March 13, 2015, 04:09:43 PM
They are certainly IN. Lots of interest building up behind the curtains. And look at all these positive news on TWSJ.
1702  Economy / Speculation / Re: My strategy - buy and spend on: March 12, 2015, 01:36:12 PM
Rather than obsessively checking the price and seeing if my coins have increased in value all the while kicking myself about not getting out at the peak (a.k.a HODLing), I've hit upon a new method for growing the bitcoin ecosystem and thus hopefully the value:

I bought some bitcoin (from an ATM in Manchester, UK) and have spent them on a new Raspberry pi, some beers and a few DVD's. As the value has increased, I got the stuff I wanted at a reduced price - double win  Smiley

I believe in the future promise of bitcoin as a payment system but it's not going to grow unless it's used - stop trying to get rich and just use them!



I sometimes spend it on the street to have a nice coffee with waffles and whatnot, nothing too big, otherwise I feel like im wasting Bitcoin (feels like paying gold, something too valuable to be used as filthy fiat).
1703  Economy / Economics / Re: Is the US national "debt" an illusion? on: March 12, 2015, 01:34:45 PM
No, ask China, it's very much real.
The debt may be real, but it's made off printed magic money, and the illusion that they will ever pay it back. That's not even illusion, it's just plain delusion.
1704  Economy / Economics / Re: Machines and money on: March 12, 2015, 01:27:42 PM
Capitalism is a double edged sword. The risk of the profit motive drawing companies to do terrible things, endangering society in the long term, is very real, both environmentally and technologically. Essentially companies would justify mass surveillance, militarism, or pervasive AI simply because it is lucrative. Today, too many powerful corporations conflate what is lucrative, with what is practical for society.
By the time an AI is created I don't think capitalism will exists as we know it. We are talking 100 of years from now. By that time most jobs will be automated. We'll have socialist policies, universal welfare and whatnot.

Are you kidding? Why would capitalism disappear by then? It's capitalism that makes advances in science and tech toward AI possible (at least in our current society). The alternative would be if we lived in some utopian socialist environment and we are WAY too far away from that being a reality. I think capitalism will be the enabler of AI development.

But the question still remains what form of economy, i.e. economic system, thinking machines may need, or, rather, which economic system would suit their needs best. And even before that, whether they may need society (machine society) at all as a prerequisite for such a need.

We don't even need to reach AI to get rid of the necessity of money. Again, look at the 3D printing technology alone. It's going to kill tons and tons of jobs. What the hell are you going to do if you don't give all these people basic welfare?
And what happens in 1000 years when (even without necessarly AI, just automated robotics) automation has replaced 90% of jobs? how can economy work like that?
1705  Economy / Economics / Re: Is bitcoin dead? on: March 12, 2015, 01:22:09 PM
One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Go back to Bitcoin 101 class.

As miners exit, the difficulty drops, so one earns more coins with the same computing power. There is always an equilibrium point above 0 miners.
This. The cake is always nicely distributed. I don't get all these "oh if the price falls it's not profitable for miners". Yes it is, there's always someone that profits from it.
1706  Bitcoin / Bitcoin Discussion / Re: Maybe a Japanese looted Mt. Gox on: March 12, 2015, 01:19:51 PM
Maybe it was Satoshi himself. The name is Japanese too.
Lol. Why would Satoshi do that if he has enough Bitcoin to stay retired for several lifetimes.
1707  Bitcoin / Bitcoin Discussion / Re: I wish to put a 5 mb file and preserve it on the blockchain, I will also pay. on: March 12, 2015, 01:17:59 PM
Maidsafe will solve problems like this in the future, decentralized file storage is finally here, no need to mess with the blockchain.
1708  Bitcoin / Bitcoin Discussion / Re: Anyone Knows Hump The Bundle Porn Site? on: March 12, 2015, 01:16:24 PM
Yes.. They're accepting BTC.
http://bitforum.info/t/hump-the-bundle-porn-got-25-91-of-total-transactions-in-crypto/394

Do you ever think how big the porn industry is and how bigger it will become if Bitcoin is integrated in well known porn sites?
Compared to buying porn through credit card and debit card, you can hide your identity with btc transactions.
What do you think?
I have no idea what that is, im waiting for european porn producers to start selling their nice videos for BTC. When is Rocco getting in the BTC boat? Tongue
1709  Economy / Economics / Re: Money is an imaginary concept, but humanity is enslaved by it on: March 11, 2015, 04:47:17 PM
funny thing is that humanity created the problem called "money"(they did it by giving value to something useless), and now they need it to be happy

this is why human stupidity is endless
Money was created to solve problems... it was unevitable to not create money, capitalism has given us the most development ever in history, the question is if money will start being a problem more than a solution once machines take over most of the jobs.
1710  Economy / Speculation / Re: Hopelessly Confused on: March 11, 2015, 04:23:58 PM
why they should dump now, when the price is recovering so nicely, they must be dumb, they don't want to crush the market
They know they can be the next Rotchilds of cryptocurrencies if they hold for enough time. One would be insane to sell now when the future is looking so bright for Bitcoin.
1711  Economy / Economics / Re: EUR might drop below USD on: March 11, 2015, 04:22:18 PM
It's pure shit seeing your currency get worth less and less.

And it will only gets worse if they keep feeding Greece billions of our money for nothing.

Some days ago I checked the rate, and it was 1.11 and today it dipped even below 1.06....

I never thought I would say this, but I am soo glad I converted a good bit of my EUR into USD a year ago at ~1.3X
Poor greeks aren't responsible for having shitty corrupt governments and living on a global scam economic system to boot. I don't like when people blame the normal people when it's all a small % of corrupt elites.
1712  Economy / Economics / Re: Machines and money on: March 11, 2015, 04:18:03 PM
Capitalism is a double edged sword. The risk of the profit motive drawing companies to do terrible things, endangering society in the long term, is very real, both environmentally and technologically. Essentially companies would justify mass surveillance, militarism, or pervasive AI simply because it is lucrative. Today, too many powerful corporations conflate what is lucrative, with what is practical for society.
By the time an AI is created I don't think capitalism will exists as we know it. We are talking 100 of years from now. By that time most jobs will be automated. We'll have socialist policies, universal welfare and whatnot.
1713  Economy / Economics / Re: Syriza trying to loot social security on: March 11, 2015, 04:13:44 PM
This looks good to me. At least, Greece starts to look seriously about how to pay back the billions they owe.

I don't have any social security, nor any of my friends, nor does most of humans. Why should the Greeks have it? Sometimes I wish everyone with social security from his government would just drop dead. The world would be a much better place, with people having a clearer view of things.

You are as delusional as it gets if you think they'll ever be able to pay the insane debt no matter what they do. Hell, not a single country will be able to pay their debts. This is all a big fucking act.
1714  Bitcoin / Bitcoin Discussion / Re: European friends, last month, you profited approx 38%? on: March 11, 2015, 04:08:26 PM
if I invested 100€ into bitcoin, it would now be worth 1.32x as much due to the bitcoin rise.  It would be worth 1.06x that due to €s falling against the dollar.
I make that 41% profit, rather than 38%

correct, I was cautious.
with this chart, to be exact: 1,327169 / 0,934834 = 1,4196 % so that would be 42% Smiley
Indeed! My shitty euros keep deprecating while my Bitcoins have been going up since I hold them, good times.
1715  Bitcoin / Bitcoin Discussion / Re: Bitcoin the good the bad and the future on: March 11, 2015, 04:07:25 PM
All these bads arent really bad, it's relative and the price fluctuation will stop once it goes worldwide. 100K per coin? Who knows, it could be since no one even imagined Bitcoin could reach 1 dollar, let alone 1000, back in 2009.
1716  Bitcoin / Bitcoin Discussion / Re: Three Unnamed Bidders Win Latest US Marshals Bitcoin Auction on: March 11, 2015, 02:58:49 PM
http://www.coindesk.com/three-unnamed-bidders-win-latest-us-marshals-bitcoin-auction/

Quote
The US Marshals Service (USMS) has revealed that three bidders each took home a portion of the 50,000 BTC sold during its most recent bitcoin auction held 5th March.

The winnings were divided among the unnamed individuals, with the leading bidder claiming 27,000 BTC ($7.9m at press time). The remainder of the bitcoin was split among two individuals who took winnings of 20,000 BTC ($5.9m) and 3,000 BTC ($885,801), respectively.

A spokesperson for the USMS confirmed the totals via email, adding that the transfer of proceeds to the winners has now been finalized.

While no winning bidders have yet come forward, the trading desk at SecondMarket, the entrant that claimed the highest share of the 50,000 BTC sold in December’s auction, has publicly revealed it did not enter a winning bid.

Other known participants, including hedge fund Pantera Capital and investment management company Binary Financial, have yet to comment on the news publicly.

A final auction of the roughly 44,000 remaining bitcoins in possession by the government agency is expected to be held later this year.

working it out seems average of $290 - $300 per bitcoin


That's really cheap. These whales are going to be billonaires if they resist the urge to sell for a couple of years.
1717  Economy / Speculation / Re: Breakout incoming! on: March 10, 2015, 04:59:57 PM
The people that said we wouldn't see 300 again must be really sore by now. We are clearly headed towards 600 ish for the summer. Enjoy the gains and hold.
1718  Economy / Economics / Re: How to earn money with bitcoin ? on: March 10, 2015, 04:58:49 PM
Faucet verry simple earn money with bitcoin  Smiley
And SignCampaign is good for earn money with bitcoin.
And if you have a large capital and want effortless way to buy some BTC and then hold it at the right time you sell .  Smiley


Faucets aren't simple ways to earn money. Its possibly the worst way to earn money as it requires too much work just entering captcha

Indeed. Faucets, if you want to make good money from them, you need to be good in advertising your referral link to build a solid downline. If that happens, you will get a hefty profit and you can now sit back and let them work for you. Easy money, if you are good enough.
Unless you are moving massive amounts of traffic it's just not worth it, and if you are moving massive amounts of traffic it's not worth it anyway, because you have better options (adsense, CPA, whatever).
1719  Bitcoin / Bitcoin Discussion / Re: Bitcoin Startup 21 raises record funding $116 mill, aims at mainstreaming BTC on: March 10, 2015, 04:57:20 PM
We on our ways fellas...

http://blogs.wsj.com/digits/2015/03/10/secretive-bitcoin-startup-21-reveals-record-funds-hints-at-mass-consumer-play/

Quote
For the past year and a half, a Silicon Valley startup has quietly convinced some of the biggest names in venture capital to back its effort to turn the technology behind bitcoin into a mass-marketed phenomenon.

Now, that company, which bears the name 21 Inc., is emerging from stealth to announce it has raised $116 million in venture funding, the most ever by a startup in the digital-currency sector, based on data from bitcoin news service Coindesk.

What it’s not yet publicizing is the precise nature of its operations, Chief Executive and co-founder Matthew Pauker will only say there will be “several interesting developments over the next weeks and months” about software and hardware products designed “to drive mainstream adoption of bitcoin.”

Since its launch six years ago by a mysterious coder who used the presumed pseudonym of Satoshi Nakamoto, bitcoin has drawn media attention as a wildly volatile digital currency. But amid stories of scandal, theft and turbulent prices, the general public has largely ignored the arguments of vocal supporters, who tout the digital currency’s potential to cut costs by removing middlemen from finance and commerce.

According to Silicon Valley investors such as those taking stakes in 21, say that failure to gain mass adoption is partly because the public’s attention has been misguidedly focused on bitcoin’s limited potential as a digital alternative to traditional currencies. In reality, they say, its underlying technology has far wider applications than that. Unlike the currency transactions that are generally associated with bitcoin, these new uses could range from lawyer-free smart contracts to tamper-proof online voting systems.

21’s lead investors include U.S. venture-capital heavyweights Andreessen Horowitz and RRE Ventures, along with Chinese private-equity firm Yuan Capital, with a strategic stake going to chipmaker Qualcomm Inc.QCOM +0.49% through its venture-capital unit.

Additionally, Khosla Ventures and Data Collective have invested in 21, as well as chief executives and founders from various tech companies, including PayPal co-founders Peter Thiel and Max Levchin, eBay Inc. co-founder Jeff Skoll, Dropbox Inc. CEO Drew Houston, Expedia Inc. CEO Dara Khosrowshahi and Zynga Inc. co-founder Mark Pincus.

Mr. Pauker said Qualcomm’s involvement is key. He hopes to exploit the Bridgewater, N.J., chipmaker’s mass-marketing and production capabilities in the development of a suite of consumer products that integrate with bitcoin’s core technology called the “blockchain.” This technology takes the form of a public, digital ledger that’s maintained by a decentralized network of thousands of independently owned computers.

Qualcomm’s involvement could spur speculation that 21 has its sights on the so-called “Internet of Things.” That’s the idea that a myriad of smart, Internet-connected appliances will in the future communicate with servers, networks and each other to optimize their operation, maintenance and energy usage without direct human involvement.

Some developers believe that bitcoin technology could play a key role in transparently managing the vast flow of information generated by these smart gadgets. The decentralized blockchain ledgers are free from the control of any one party, so smart appliances can in theory connect with computers built by other entities safely without worrying that the information was manipulated.

Starting out under the earlier name of 21e6, the company – which takes its name from the 21-million limit that bitcoin’s managing algorithm imposes on the total number of bitcoins to be released – spurred intense speculation in November 2013, when a regulatory filing revealed a $5 million fundraise.

Members of the bitcoin community speculated about a secret vehicle for Silicon Valley elites to develop high-powered equipment that could dominate bitcoin mining. Mr. Pauker’s comments about a consumer focus suggest that isn’t where the company has ended up.

The initial secrecy around 21 was “solely for pragmatic reasons – we didn’t have anything to say to the world,” – says co-founder Balaji Srinivasan, who is also a partner at Andreessen Horowitz. He compares 21’s work in building bitcoin products for the general public to the sequential development of 56-kilobit Internet modems, international fiber cables and wireless Internet towers, which all helped bring the Internet into people’s homes in the late 1990s.

This notion also has parallels with the mass Internet appeal achieved in the 1990s by the development of the Netscape browser by Marc Andreessen, a co-founder of Mr. Srinivasan’s firm. Asked for his views on 21, Mr. Andreessen said it “is working on what they — and we — consider to be core infrastructure for mainstreaming bitcoin.”

21’s announcement extends this year’s upswing in venture capitalists’ digital-currency investments, highlighted by January’s $75 million fundraising for San Francisco-based bitcoin wallet provider Coinbase Inc., whose investors include the New York Stock Exchange. Bitcoin-focused venture capital more than tripled to $347 million in 2014 from a year earlier, according Coindesk.

The money flow is paving the way for products and services aimed at transitioning bitcoin from its volatile, Wild West beginnings into an era of more secure infrastructure and mass appeal.

A week after its funding announcement, Coinbase unveiled the first licensed U.S bitcoin currency exchange. Later, high-tech security company BitGo Inc. launched a unique insurance program, while the New York-based Digital Currency Group’s Bitcoin Investment Trust earned regulatory approval to become the first publicly offered fund dedicated to owning bitcoin.

Well-funded custodial and financial services companies Xapo Ltd. and Circle Internet Financial Ltd. have also developed high-tech security and insurance projects. Meanwhile, San Francisco startup BitFury Holding BV has launched new, high-powered chips to take bitcoin mining to a new level of intensity.

None of this will matter if bitcoin doesn’t achieve mass adoption, says Mr. Pauker.

“Bitcoin is going to change the way that people and businesses and even machines interact with each other,” he says. “But for bitcoin to realize that vision we need mass adoption. It can’t just be for Silicon Valley.”

This is great under the radar news, mainly because only the silicon valley giants really know what 21 is all about.

Knowing that so many brilliant people and companies are supporting and investing in this secretive company is going to be truly ground breaking.

Can't wait to see what type of smart appliances or gadgets 21 comes up with, that will get the masses flocking to get a peek at this new Bitcoin centric tech.

And things continue as accorded by common sense (aka Bitcoin being a global success). Let the FUDsters drown in their own tears.
1720  Bitcoin / Bitcoin Discussion / Re: Bryce Weiner attempted to tip ISIS!? on: March 10, 2015, 04:56:07 PM
This guy is an idiot. You can't be ambiguous ironical or anything with this, you fuck up by trying to being a smartass by not directly condemning the ISIS rats.
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