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February 28, 2014, 08:45:43 PM |
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All the lessons, like to store the btc in cold wallet etc are jokes. Do these people have ever read the article, "Bitcoin: A Peer-to-Peer Electronic Cash System"? If they don't, just follow the first several paragraphs.
We try to build a electronic cash system. CASH SYSTEM, Yes. We just buy the btc and store in the cold wallet until the price rise. Do they ever noticed why the BTC will rise in price compared with dollars? 2 reasons: 1 How much BTC involved in as a CASH? 2 the level of trading in such exchange companies like GOX.
What are the factors might influence 1: BTC's price and liquidity. But what influence these 2? Exchange Companies!
If BTC wants to develop, Exchange and relevant agencies must be strong and transparent. Strong could be supported by trading and its real economy. But buying btc and store? Such behaviors could hardly help the exchange companies and their liquidity. But are these companies trustworthy? No! Not at all. Who will be next GOX? We have no idea. Because the untrustworthy of those companies, the liquidity and price will be damaged, but BTC are still counting on them to rise the price? This is a logic error. So transparency is important. However, in the BTC logic, it is hard to accomplished. No one should has the power to supervised BTC, or it lost one of the most important properties, anonymous. With explosion of GOX like companies, they are just about to take all the BTC away in their system, are normal citizens who do not search bitcointalk and don't know how to generate wallet, willing to buy BTC? Since the old player already freeze theirs. Will those real economic accept such a cash, that people won't use it but only store it?
P2P is revolutionary, but money is not. BTC is designed as a cash to replace money on the internet. But on the winding road to achieve this, it must be associated with money a lot! Idea is so fascinating, but no one is willing to do so. DO EVIL is a free option during the BTC world, not about trading with drugs, weapons, but those GOX companies, and those smart players frozen the liquidity of BTC.
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