Whatever happens in the short-term dealing with this mess, I'm happy this phase is concluding. Gox was a holdover from early bitcoin, where clearly incompetent people/operations handled massive amounts of customer funds, and we've been needing to get sharply over that phase for a while now. This does so rather dramatically. I look forward to bitcoin moving into the next phase of adoption driven by far more professional entities.
Seconded. This moment is one of the last great buying opportunities, the ecosystem has finally cast off a giant anchor that was weighing it down. Short term pain, for long term gain. |
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Kinda surprising that the joint statement about the MtGox insolvency statement came out before the MtGox insolvency statement. I have no reason to doubt it, just point how MtGox even screwed up a press release.
Failing to announce their insolvency to the world themselves was probably the last straw of their incommensurable incompetence. If they really are insolvent...then they probably don't have the funds to do a PR, or should legally allocate those funds for distribution among their creditors. I'd guess their CEO or lawyer would just make a statement to the press. |
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In NY Times just in time before the NY hearings. Let's see if they get a clue.
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Congratulations to one of the more capable and esteemed members of this forum! Good to see more options and liquidity added to the USA market. Tangible Cryptography has announced the completion of a $600,000 seed round investment funded completely in bitcoin.
The company will use the funds to launch BitSimple, a new bitcoin sales portal that aims to set itself apart from traditional bitcoin exchanges. http://www.coindesk.com/tangible-cryptography-raises-600000-for-bitcoin-sales-portal/ |
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this is BITCOINtalk.org, not Dogecointalk. You fuckers are just being rude. I don't go to your house, piss in the flowerpot and shit on your rug. Please do us the same courtesy. You have your own, threads, your own subforum, your own reddit. use them and leave us alone. We don't want you here. You are like juveniles. you missed the early adopter phase and you think it's unfair. tough shit. life ain't fair. It'll be even less fair when your shitcoin tanks but I won't invade your space and gloat about it cuz, you know, I'm better than you. Now do me the favor of fucking off and possibly dying, but that last part is up to you. Thanks.
Excellent (and justified) rant. Bravo. |
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Confirmed bad news & clear shotring opportunity as per Proudhon's masterful campaign.
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If Bitcoin is not a currency, how are these different from any other vending machine?
Excellent point which would settle the entire argument. But I guess, as with most bureaucrats worldwide, logic and lack of bias are not exactly a priority for them when making decisions, they just care about not getting blamed down the road or upsetting their cozy racket. And I assume that in Taiwan there is no unbiased logic-loving legal system to which the decision could be appealed. |
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I love how everyone overlooks the fact that Zynga's target audience are people who are barely computer literate. "I turn on my pc/laptop, and NSAbook is my homepage". The first sign of trouble is a major disaster. "I have to update FLASH for my games, how do I do that? OMG!"
And yet, somehow, via magic or telepathy, we expect people to just jump on the Bitcoin train - after probably never having heard of it ever before. Right. I'm skeptical that their mindless clicking drones have the slightest interest in Bitcoin, or the skills to even acquire any.
I agree with you TT that, as with the WordPress and Baidu announcements, this might not turn out to be material in terms of transaction volume or consumer Bitcoin adoption. But it's a very important milestone in order to keep the PR momentum going, and lessen the fear of Bitcoin adoption in other future retailers & service providers. It's one more talking point for our arsenal, one more bullet point in our slide deck, with a fairly big name that's likely to be recognized by most people in the tech sphere. |
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Morons with lack of foresight driving their country off a cliff. Taiwan will now start stagnating and undo all the economic progress they worked so hard to achieve during the 20th century.
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Bitcoin adoption from the second most well known brand on the internet should generate a bigger price rally, and more secondary reporting of the fact than from just one bitcoin news site.
Yes I think if any of Facebook/Google/Amazon were confirmed to accept Bitcoin payments, it would drive the price up almost instantly anywhere between 2x and 10x. All signs so far point to fakery, the current rally I think is underpinned by the Fortress and Zynga news and not by this rumour. |
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Much debate online currently as to whether this news was faked and the source is reliable. Could someone reading this in Holland please verify (or not) and let us know?
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Nice deeper analysis of the Zynga news, by Trace Mayer. Zynga Accepts Bitcoin, And Savings May Be Material To EarningsSure, Zynga will get some great publicity out of the decision but inquisitive investors may wonder what effect, if any, could Zynga's decision to spend a few programmer hours integrating Bitcoin have on earnings. The ROI may surprise you and have you demanding your other companies jump on the Bitcoin express train. In 2012, Zynga had $1.2B of gross revenue. We do not know what percentage of revenue will have the Bitcoin payment method as an option so we will just assume all of it. The credit card or PayPal fee for a $5 sale would be about $0.445 or 8.9%. Assuming Zynga has the same payment method breakdown as Reddit then we can expect this effect.
Approximately $30m of annual revenue being processed by credit cards or PayPal would cost about $2.7m. Bitpay will process this amount for a flat fee of $300/month or $3,600 per year which is a cost savings of approximately 99.87%. Not bad for a few hours of a developer who is likely already on salary! http://seekingalpha.com/article/1928121-Zynga-Accepts-Bitcoin-And-Savings-May-Be-Material-To-Earnings |
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This is huge in terms of name recognition, right up there with Overstock or WordPress or Baidu. Even if not much came out of it in terms of transacted amounts, it's a very valuable proof of concept deployment and a very big endorsement from a PR perspective. 2014 might deliver the nonlinear tipping point where competitive dynamics and PR buzz will suddenly force all online businesses to consider Bitcoin support.
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Not really surprising, I mean - they are asking people who are personally vested in Bitcoin if it will do well. I think it will be just fine of course, but I had to comment on the sillyness of this poll. Sure they're going to say higher, hardly anyone ever says "This is the year of the slide back to $100".
Yes...it would be more interesting (insightful) to see a poll of either the population at large or random retail investors. |
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It looks like the big announcement wasn't the Fortress thing but the keynote congressman speaker who is running for senator in Texas accepting BTC for donations, and promising to introduce a bill to keep Bitcoin regulation-free in the USA. Congressman Steve Stockman announces that he is putting forth a bill this January to protect #Bitcoin |
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This kind of news is so great, it really highlights why Bitcoin is destined to crush all other payment methods. Nothing else has this level of enthusiasm behind it.
Can you imagine any unpaid volunteers donating time and money to create a PayPal Center, a Visa Center, a Dwolla Center, or even a Federal Reserve Note center?
We have relentless in-your-face persistence and martyrs on our side. The other teams have nothing but mercenaries and traitors. There is only one possible outcome.
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Tokyo, Dec. 20 (Jiji Press)--The Bank of Japan is "very interested" in the online virtual currency Bitcoin, Governor Haruhiko Kuroda said Friday.
The central bank's Institute of Monetary and Economic Studies is studying it, Kuroda said at a regular news conference.
"Compared with traditional ways of money transfers and existing electronic money, Bitcoin has both similar and different aspects," Kuroda said.
Central banks around the world are closely watching Bitcoin, the value of which has been swinging wildly due to speculative trading.
The BOJ currently has no plans to take action on the situation surrounding Bitcoin, Kuroda said. http://jen.jiji.com/jc/eng?g=eco&k=2013122000949 |
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