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What will you be doing with the empty wallets?
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Do you have a link that proves that Wikipedia actually cashed out their BTC donations? I would think that a foundation like Wikipedia would likely want to diversify their investments at least a little bit so it would make sense to me that they would keep at least some of their bitcoin donations in bitcoin.
Jimmy Wales seems much more a cash grabber to me. I'd doubt he'd ever hold bitcoins unless it was skyrocketing and he thought he could get a lot more short term cash out of it. |
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Pointing to the smartphone, Kurzweil says, devices like the iPhone are 100,000 times smaller than the computer that he used as an MIT student. "It is also several thousand times more powerful," he says. "It is a million times cheaper. That is a several billion-fold increase in price performance." Technology is being reduced at a rate of "100,000 in 3-D volume per decade," says Kurzweil. "That is another predictable exponential trajectory, so computers of this capability will be blood-cell size in 2030.
Phone size is increasing again. 30 Years Of Cell Phones  To be fair though, our phones are simply "phones" anymore, they are also more or less full blown computers with custom OS's + phone in one. |
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I used to sell in game gold all the time using paypal's "gift" option and I can tell you right now that all they have to do is login to their paypal via a proxy and send you the money. They then have 45 days to claim that their account was hacked and all that money is reversed. I've experienced it multiple times first hand. Don't fool yourself. |
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Thanks for Necro'ing this post. It really was more of a reality check in the sense that bears always say the same things and yet here we are at 100x the price since the OP's statement. Along with that the use for bitcoin has grown significantly in terms of where it's spendable, public awareness and usefulness in accepting/sending irreversible payments around the global nearly instantly. Someone needs to necro this post in another 2 years for perspective  |
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Thanks again for the responses.
I was trying to read up on Securing your wallet, slightly confused on it. Are there any good recommendations on where to go and how to do this? Like I said I am using Coinbase and do they do it for me, or is this just an online service that doesn't do much?
Thanks!
If you're using coinbase you don't really have a "wallet" to secure, rather just a login. You could however, use coinbase vault to at least make it so if your user/pass/FA gets hacked it would also require a second email and a 48 hour delay before your bitcoins are gone. If you want to be the true owner of your bitcoins I suggest busting out an old laptop, wipe it clean, disable the ethernet and wireless internet connections. Then install electrum (recommended) or armory as a cold (offline) storage and use that as your bitcoin "savings account". Then encrypt the harddrive (i still recommend the old version of truecrypt) and also have a strong password on the wallet. That way these bitcoins are unhackable. Make a few backups from that laptop onto USB's and CD/DVD etc in encrypted containers in case your laptop breaks. |
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Many people have been running gawminers in the zencloud without any issues. Especially the people that have the miner + zeminer (rPi) shipped to them.
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My list, in no particular order.
1. Cyprus
2. Argentina
3. India
4. Portugal
5. Ireland
6. Greece
7. And with enough time, the USA (meaning it will be regarded as legal tender, able to pay taxes and and government fees in bitcoins)
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Hello I'm looking for someone to build a auto-profit switching multipool that at the very least supports multiple scrypt coins. It would also need to be able to auto-exchange on cryptsy and possibly other exchanges for bitcoins and allow bitcoin payouts.
Feel free to PM or post your bid and timeframe for completion.
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I would also like to know your price for profit switching multipools, with at least scrypt support.
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I am now offering Profit switching multipool for just 1.1 BTC
This package includes:
A profit switching multipool
Future support
Price: 1.1 BTC only.
Note: Multipool will be delivered within 7 to 8 days after the order is placed
I'm interested in this. Can you please provide a sample url where you already have one running? Is there a developed admin page? What algorithms does it support? and how hard is it to add new coins? |
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If dollar falls down, especially suddenly, nobody will known what is going to become with stock markets because the USA immediately will start a war))))
i agree lots of things are pointing towards a controlled collapse of the usa economy and then a false flag to start a new world war to cover up the collapse and then to consolidate power to a global govt... as people will blindly follow their govt in times of war. totally and fully agree. youtube recordings are taken as a conclusive evidence and etc.? need a war.. just trying to find a hook to start a war.. and people believe blindly What are you talking about? Youtube videos as conclusive evidence of what exactly? As far as the US starting a war when/if stock markets crash, doesn't really sound reasonable to me. Especially with "terrorists" not technically being a targetable country(ies). |
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bitcoin made a big splash, then bad news came about and whales pulled out. they have not been stoked or excited since, so the price has been lagging.
there has been good news, but that is merchant adoption.. which is more geared towards bitcoin's long-term success. people tend to shoot for the short-term gains than they do the long game.
What is disturbing is the amount of press regarding VC money being poured in hasn't moved the needle at all. When should we sell? When BTC is at $600 in December? I mean the needle is not moving with all the good news lately which is disturbing! There is no way I'd be selling Bitcoin at $600/coin. It's long term value is so much more than that and every regret I've had with bitcoin has been selling it. The reason the price hasn't gone up IMO is even with the small amount of new VC funding the amount of merchant adoption of bitcoin seems to be increasing faster than large investors are coming into the game. When these companies use bitpay or coinbase the coins are immediately turned around and sold, creating a selling pressure and driving the prices lower. In order for bitcoin price to go up, we need more people to start buying into bitcoin or spending less at these merchants that simply turn around and re-sell the coins. One of the biggest ways this could happen is if small communities in countries where their currency is either in inflation or risk of bankruptcy etc (IE Argentina) starts using bitcoins OR if these merchants decide to hold at least part of the coins they receive, thereby decreasing the circulating supply of coins and easing up on the selling pressure. |
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There will be high possibility to climb back to the peak of 2013 if China and other countries cancel their restriction to BTC. I think it isn't long before they will realize the benefit the new technology will bring to us.
Came here to say more or less this...China can potentially play an incredibly strong role in sending bitcoin moonward in 2014, as was already shown in 2013. For what it's worth, they have the #2 highest GDP in the world. Clearly, many Chinese enjoyed Bitcoin for a short while. However, the ripple effects of so many Chinese people in the Bitcoin market have not ever been realized. The price could easily soar if restrictions are eased in China, otherwise I think we will see a generally steady price with gradual increases. I agree that China could play a huge role in another rally if restrictions are eased. But do you really think that's going to happen? Maybe eventually, but considering how much the Chinese government likes to control things, I doubt it would anytime in the near future. If anything, I see regulation getting worse. Any under-penetrated and large market, like China or India, could spark off the next bitcoin rally. Don't forget Argentina, they are in a world of trouble right now. I don't think most of them are too tech savvy (due to import laws and taxes), but something like a stellar smart phone app could launch local trade of bitcoins in the country, with or without their governments approval. |
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Like most people have said, only invest what you can afford to lose. If that sums up to 1 Bitcoin, then great, hold it for 2 years + and see where it lands. To the people suggesting that someone who could only buy 1 bitcoin, should buy 100....well that just doesn't add up.
Keep the 1 Bitcoin safe, keep it on multiple backups and I'm pretty sure you'll be happy in a few years when we all start talking in mBTC or less, rather than whole bitcoins.
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Hi, I have a question, but please direct me to a post if already asked: In case of another GFC, would BTC bitcoin price: a) stays on the same level  b) skyrockets  c) tumble down  Take your pick:  Anyone know where this image was originally published? And if another GFC were to happen, I don't think the general public is ready to put all of their fiat into a cryptocurrency quite yet. There is still a liquidity issue and the tech issue. |
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I'm mainly hoarding for now, won't start buying stuff with them again until BTC price > $900.
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I'm expecting a flat to bear month unfortunately. But that also means a better buying price this month so /shrug.
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