IMHO main reason for the high value is MtGox "losing" loads of coins.
basically demand is higher than supply, if there were more coins in circulation, then supply would be higher compared to what it is now, hence the lower price.
If anything this would actually make demand to be less then it otherwise would be (supply is actually higher but the net effect is the same). When MtGox gave out coins that people did not pay for, the people who received them now would either want to sell more then they otherwise would or would buy less then they otherwise would. The people who kept their coins on the exchange that did not actually "have" the coins they thought they owed did not buy coins that they otherwise would (they thought they already had them). |
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You should suggest this to Stunna or doog. Trip to Vegas for like 3 days of having a casino.
I think there could be a big opportunity for casino operaters to incorporate bitcoin somehow. People could wager their bitcoin at the card table and the dealer could payout their chips back to their wallets. They could also make it "fair" in a similar way that BTC based casinos do to weed out the cheaters. I would think if a casino starts accepting bitcoin, it will be to buy chips. Seems a lot simpler to implement. Is there a reason you'd like to see it the way you describe? Sorry I don't gamble so maybe I'm missing something here. That is exactly what I am saying, a person could buy chips at a blackjack table for example and either the dealer or the cashier could convert the chips back to bitcoin. I am not saying that casinos need to be "fair" in the same way sites like PD3 are fair, but having bets work this way would prevent cheaters from cheating the system. Sorry, I thought you meant that people would bet directly with their bitcoins. I didn't even know you could buy chips at the table; I thought you bought them from a nice lady in reception  I've never actually been in a casino (you may have guessed this by now). I'm not sure how people cheat the system either, but would be interested if you can be bothered to explain. People cheat the system by inserting machines into slot machines that make the outcome less then random, they count cards and swap cards while playing blackjack and other card games. If all the games were random in the same way that PD or dicebitco is then every hand and every game would be 100% random. |
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You do realize you get killed or they force you to do thing if you do not pay a tax right? This isn't like some good time terrorist group. They kill their own people all the time for reasons and for no reasons. I don't understand how you can think at this level. THEY ARE TERRORISTS and they are gonna take what they want. They will take your computer or kill your wife for not paying them or whatever. Plus since terrorists know about btc and all that they will know people are hiding it, so that blows your whole argument out of the water... people will gladly give up money to save their own life.
i love how media have spoonfed this info to you. i bet you even think that Baghdad looks like a shantytown like this:  yet Baghdad actually looks like this:  These two pictures are highly focused on a small area of Iraq (I assume that the 1st picture is taken in Iraq). It is true that a lot of Iraq is war torn (as it has been going through one war or another for over 10 years now) but a lot of it is also somewhat modernized and beautiful and has a lot of history. The people under ISIS likely fear for their lives and have little money to worry about it getting stolen. If they wanted to they could convert it to bitcoin, however the ISIS is not killing Christians because of their money, and are generally not taking a lot of money, but are rather killing because of their religion. |
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Yeah but it only is a good thing if the lookup of those addresses happens on a decentralized basis. We could use namecoin for that. But some services that already exist actually are decentralized. If you are able to tamper with that system, you could easily pipe in your own address and steal someone's coins! I think if this happens on a centralized bases or a decentralized basis it will be a huge target for fraud and scammers. In the OPs picture SeansOutpost was the example, but a scammer could make several addresses with slight variations of this name to try to get people to send them money when they misspell who they are trying to send money to. Something like that happened with Coinbase. Someone not affiliated with Sean's Outpost opened an account under their name before they did, obviously hoping users would just assume it was theirs and send donations without checking. Fortunately, Jason King contacted Coinbase and got them to address it. I think this is a perfect example why something like this would not work. If there is not some kind of central authority to monitor and somewhat regulate (in similar ways that coinbase does) these types of addresses then we will end up with more fake donation type addresses then there are legitimate addresses. |
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The risks they outline are basically correct. However, they seem to forget that most of these threats are threats to cash also. I see no warning about cash?
Cash is like the wild west. Threats to cash include thieves who will try to steal your wallet. Cash is not federally insured, so if you lose your cash you are on your own. While it is not illegal to use cash, it it not advisable and should only be used by the most sophisticated financiers. Additionally, businesses that use cash may not be trustworthy. They may charge outrageous fees or even be ponzi schemes. Worst of all, cash is backed by nothing more than the government! Unlike say... Bitcoin which is backed by math.
Moral of the story? Using cash may have its benefits, but don’t let it be your fool’s gold. Because “if it’s too good to be true,” the report said, “it just may be.”
In practice it is much harder to steal cash from someone then it is to steal bitcoin from someone. Also many people do not know the important details as to how bitcoin works so it is much easier to trick someone into giving them bitcoin then it is to tick someone into giving them cash. |
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As long as IOS will be more secure then Android and Windows, Apple will have any interest in encouraging people to use cryptos: it will mean people will be forced to buy apple just to sleep sweet dreams.
Yes they are more secure...but mostly because of their product not being sold as much. Yes apple OS is built on a unix background so its slightly better. The fact of the matter is though, people don't hack it as much because there isn't enough of them out there to be a big hit iPhone users are generally wealthier then android users and the iPhone is a better selling phone then any one model of android based phones. The reason why more people use android then iOS is because so many manufacturers make android based phones. I think that overall iPhones are much more secure then android phones, however you need to trust any dev of any app that you install that will have any amount of your bitcoin on that phone. |
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I think bitcoin is gambling.
So far, it seems to me, I can borrow money (while making sure I can pay it back even without bitcoin), buy bitcoins, then either further invest it somewhere else, or just hold it, then pay off the loan slowly. Over several months, your principal amount should have shrunk but your bitcoin holdings or investments would remain.
At the end of the term, you would have paid off your debt, but still have some bitcoin left over, which could be worth what you put into it, or even more. It's possible it might be worth less, but over 2 or 3 years?
When I look at it that way, it doesn't seem that foolish, but it still is.
Buying and/or using bitcoin is not at all gambling, as it does have a lot of long term potential, although it will likely have a lot of price swings before it reaches it's ideal level of adoption. With that being said, borrowing money for no reason other then to buy bitcoin with the hopes that it's price will rise is nothing more then speculation and is very risky. |
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I do also have to agree with dKingston though as I thik the subjects of this story will have a hard time getting any kind of real job, and will not be able to continue to work in the porn industry as they get older.
While the front-of-camera role likely favors the young (at least in terms of volume, tough I imagine there is a niche for granny porn as well), the back-of-camera and biz development roles favor experience. Perhaps a budding entrepreneur might make even more money by mentoring up-and-coming actors. IOW: I think your skepticism reflects limited imagination. Plus if you make enough money when you are young, you really don't need to work when you get old.  I think that a few porn stars will make pretty good money (possibly 6 figures per year), but even this much is not enough to support you for a lifetime. Not only that but most will make far from this amount. I agree that there is some money to be made on "granny" porn (or other niche, unconventional types of porn), but I would think the amount to be made would be very, very little. |
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There is not a "dev team" that works on bitcoin. The closest thing to this is the team that works for the bitcoin foundation, however what they recommend/release will not necessarily be implemented by the miners and network. When they release an update the bitcoin community and other stakeholders will have a chance to "look at" the code and decide if they want to implement it or not.
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Survey completed. One of the better surveys I have seen. Asks a lot of relevant questions and really makes you think about where you stand on this technology.
I agree. I have taken a few surveys administered by college students on here and yours is very focused and will likely provide you reliant information about this kind of technology. |
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When a big company or even a little shop starts to accept bitcoin people start to get excited and think this adoption will result in the bitcoin price shooting up. Well I'm here to tell you the exact opposite is what actually happens. If a store or big company accepts bitcoin that's all fine and great but they're not holding on to it they're immediately dumping it in most cases and this will just result in the price getting lower. Places that keep the Bitcoin they get are keeping the price higher but they are a minority most just instantly dump upon receival of the bitcoin. We don't need to just get stores to accept bitcoin we need to show them the true value of it and why they should even themselves use it as a currency and not just dump it as some worthless commodity which some believe it to be. If we do this we will see a real increase in price.
You really think? i believe there are a lot of companies who are interested in Bitcoin and do want to be part of it, and thus keep their BTC in some wallet and hope the price goes up even further! Even that Overstock boss is a big fan of BTC now and telling everyone how great it is! I don't think that companies will necessarily keep bitcon as an investment (most companies do not tend to speculate on things unrelated to their business) but rather as a way to potentially pay their employees, suppliers and vendors in the future. Paying the above people this way would likely be cheaper then paying in fiat in many cases. With the exception of banks and hedge funds, companies are really not allowed to speculate with their money. If for example you are a car company, then you will spend all your money on some aspect of building or selling the cars you make, not some unrelated investment. I agree that some companies may eventually accumulate more bitcoin in order to pay their suppliers and others who they owe money on a regular basis. It would also be possible that they accumulate bitcoin in the same way they accumulate dollars or euros. |
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If/when lockTime is fully supported in bitcoin...
Create lockTime transaction sending to new address.
Sign locktime transaction with necessary private keys.
Permanently delete the private keys that were used to sign the lockTime transaction from ALL locations.
Done.
Save the braincells for a better use.
You can do that right now. Before the nlocktime has been reached nodes will not relay/store the unconfirmed txn but you could print it out and be sure that it can't be included in a block. Maybe someone should make a fancy looking cert with a qr code and call it a Bitcoin Certificate Of Deposit. You could give them as gifts and the recipient would not be able to spend them until the locktime has passed. Modern day certificates of deposit in fiat based banks will allow a customer to withdraw their money from a certificate of deposit with some level of penalty, in this case it would be impossible to spend the bitcoin contained in this transaction. Another issue is that these types of transactions will send a TX to a specific address sometime in the future. If between now and that time in the future your private key to that address is somehow compromised (or potentially compromised) then you would have no way to spend these funds without significantly risking them. Under normal circumstances if you think your wallet has been compromised or if you find a potential vulnerability in the creation of your keys you can solve the issue by simply moving your coins to an address that does not have this potential vulnerability. |
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Please guys, all we ever do is evil/conspiratory, let us get the fault for this one.
Please, lady, all we ever see is the same posts all day long, let us get the facts straight for this one: CIA/NSA is a bitcoin project! I think that the only people that really believe this are the types of people who wear tinfoil hats. I personally very much enjoy conspiracy theories and enjoy reading about them, however in this case I have really not seen any actual evidence that would support that this actually happened. All that I have read about this is nothing more then speculation. |
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Libertarian-leaning Republicans. Democrats are afraid of it because it's unregulated.
This. I think liberals will also dislike bitcoin because it will force the government to be smaller and less powerful. The liberals generally want government to be as large as possible and for everyone to rely on it. I agree. Generally democrats dislike it when people who work hard are able to climb the economic ladder and are able to create wealth for themselves. This is exactly the kind of people that would invest in bitcoin related businesses and would buy bitcoin both as an investment and to use as a currency. |
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He might have lost it!
How would Satoshi lose his BTC? .-. I'm VERY sure Satoshi keeps a cold storage or something of the sorts. Or he keeps the PW safe. He's probably just not touching it for now. He might have lost the private keys. I doubt that, but of the blocks he is known to control, I'd wager he has some special intention for those. When he was still here, he was offered $50 for a single bitcoin from the genesis block; when the going rate was under a nickel. He refused, stating that those were his legacy. That could be interpreted in many ways, but I thought s/he intended those early blocks to go to his heirs. I would say that the bitcoin from the genesis block would mean more to him then his other bitcoin. I doubt that he would decline an offer with that much of a premium for any of his other bitcoin (as I would doubt that anyone would be wiling to pay that much of a premium for any of his other bitcoin). Another explanation for this would be the fact that satoshi was very serious about staying anon. If he did take up this offer then he would likely need to give up his identity for only $50. |
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What a certified nerd.  Not interesting/funny at all.. just proof of how much of a loser you truly are. You break out UV pens because a black guy wants to buy some coin?.. You are the ultimate Loser Well it is a real risk. I have a small collection of fake $20 bills accumulated through localbitcoins selling over a period of time. I only noticed them after I got home and ran them through a currency counter. Never got a fake $100 bill though. It really should almost be a best practice to run bills you receive through a bill counter (that can detect fake bills and/or use a "counterfeit pen" on all of the bills to make sure they are not counterfeit. If you do not realize they are counterfeit and try to deposit them at the bank you could potentially get in a lot of trouble. |
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Evidence = a bodyEvidence = a witnessEvidence = a physical clueEvidence = the result of a test or investigationEvidence = I had a cool thought, and I turned it into a story! This sounds about right. I think a lot of people like to speculate about satoshi and the evidence they use is speculative at best. The OP more or less just got creative as to what his theory was/is. |
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So CVS is just an alternative to Gyft? I've never heard of it before. What selection do they have and what countries do they operate in?
The OP bought a gift card from Gyft (a CVS gift card). Although he did use bitcoin to buy the gift card he didn't truly use bitcoin for his CVS transaction. I think that once physical stores start accepting bitcoin for purchases many more people will see how advantageous it is to use and buy bitcoin. |
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This is great news especially since people are always so shy about mentioning bitcoin for getting a negative answer for you to get a positive one and it seeming to start to get the ball rolling for a company to potentially start allowing this as a form of payment. I really hope you get even more positive answers from the people higher up and this starts becoming a payment option for another company  I would disagree that people are shy about mentioning bitcoin to others. I think that people that own bitcoin have an incentive to mention it to others as it will get more people to use it and cause the bitcoin they own to increase in value. |
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Have a couple new questions.
I have a couple questions about this. How long will it take to confirm if I send a payment without the .0001 miner's fee?
It really depends on a number of things. If you are spending a small number of inputs (you received a small number of TXs into your address) and the amount you are sending is over .01 then it should be relatively quick. If you are sending a smaller amount or the amount you are sending is coming from a larger amount of inputs (you received many TXs to spend your funds) then it could take several hours if it ever confirms at all. Most pools do not give priority to TXs without a TX fee, but throughout the day the number of unconfirmed TXs will vary and if there is room on the block and few other unconfirmed TXs then your 0 fee Tx will get confirmed. |
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