Cecil. Please delete this horseshit, as leaving it on your website could cause contagion and drop yours and your readers' IQs by 90 points!

Awesome article, well researched and backed with numbers.

Bello! Punto di vista piuttosto lontano dai miei interessi (non sono un trader), ma è una lettura decisamente interessante, con molti spunti di riflessione.

BOP just got a new 12 CPU 48 GB RAM server.

I thought those were interesting points so I wrote them up for you guys to maybe discuss some.

The Bitcoin community has adapted to verbal, criminal and cyber attacks on the currency, an academic paper due for release tomorrow, reveals.

The attacks – whether from hackers, fraudsters or government regulators – seem to be strengthening the community, the research Breaking Out of the Bank in Europe – Exploring Collective Emergent Institutional Entrepreneurship Through Bitcoin suggests.

The rise in discussion of attacks in the last two years, as well as the increasing number of start-ups like Bitpay, Coinbase and Coinsetter, have collectively increased awareness and improved technologies that prevent fraud. In other words, the community has acted to defend itself, the paper says.

Researchers studied online Bitcoin activity from Facebook, LinkedIn and other sites. They also examined 1.15m posts on Bitcointalk forums written by almost 22,000 people.

The research suggests there is evidence of the open-source Bitcoin community increasingly acting as an “institutional entrepreneur”. It also says that Bitcoin is having an impact on the behaviour of traditional banks. The paper says: “[T]here are indications that the scheme is initiating and implementing substantial changes in the financial institutions that are deeply entrenched globally.”

This is important.

I’ve been warning about an outside attack on Bitcoin for some time, but the biggest threat may come from inside: from people who profess to love Bitcoin.

The people I’m talking about don’t love Bitcoin itself, and they don’t love the freedom it brings, no matter what they say. Instead they love the money they hope to make by becoming the new techno-riche: successors to Zuckerberg, Gates and the rest. (Yes, that’s an unfair thing for me to say, but I’d also be willing to bet large on it.)

The people I refer to are a neo-plutocracy — insiders who wish to institutionalise Bitcoin, making billions for themselves while turning it into just another version of PayPal.

Date added

Actually, there is one thing I disagree with in it... The author stated: "There is nothing to stop the USD being replaced by a crypto currency as a reserve currency" - Which of course discludes the will of all central banks and most governments worldwide.

Through certain manipulations sometimes this system is abused

Are there any lines ? I want to translate it to other language.

Esatto, qualsiasi currency exchange che faciliti il trading di Lindens è proibito, bitcoin o no.
Il tutto da un giorno all'altro.

Bernanke is printing (counterfeiting?) at the rate of USD $1 trillion per year and nobody sees that the party is very close to being over?

Though only available in fixed, limited supply, Bitcoin has demonstrated the demand for an exchange currency not controlled by a central authority. There is no central point to shut Bitcoin down. You can’t point a gun at a prime number and expect things to change. And we all know how effective governmental attempts to shut down peer-to-peer networks have been. The digitalization of entertainment disrupted copyright monopolies, 3D printing machines are disrupting production monopolies, and crypto currencies are going to disrupt transaction monopolies.

Nobody can predict the long-term possibilities for Bitcoin. Either Bitcoin is worth zero, or is worth 10,000 to 100,000 each.  It will take years for the market to figure out which it is. Until then, don’t expect Bitcoin to go away.

Supernode even holds 10,000 oz of silver.