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Author Topic: Reuters column: Virtual Bitcoins are appealing but probably doomed  (Read 1313 times)
hazek
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May 29, 2011, 10:16:54 PM
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LOOOL

In the currency wars, the nerds are winning. The value of a Bitcoin — a digital currency trading over peer-to-peer networks — has rocketed more than nine-fold in two months to $8.74. The preordained supply and decentralization of Bitcoins have intrigued geeks and paranoid inflationistas alike. But this abstract gold may not survive what looks like a bubble...

By Robert Cyran
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Read more at: http://blogs.reuters.com/columns/2011/05/27/virtual-bitcoins-are-appealing-but-probably-doomed/

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

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hazek
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May 29, 2011, 10:17:18 PM
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Quick kiba, you know what to do!

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

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May 29, 2011, 10:23:16 PM
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Yeah, Reuters has missed every bubble from the 90's tech stocks, dot.com, housing, mortgage debt., CDO's, corporate debt, etc and yet they are genius enough to understand bitcoin AND call a bubble .... ha!

Horkabork
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May 29, 2011, 10:28:20 PM
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I love articles like this. Since bitcoins, because they still aren't accepted for many tangible goods, are a fine way to speculate on how the currency will move due to speculation, these articles are speculating what bitcoin speculators are speculating and what this speculation of speculation will bring (besides more speculators new to bitcoin).

Now I'm sitting here speculating that more media attention, through articles such as this, will increase the number of buyers more than sellers. So I'm speculating that this article's speculation of speculating speculation will increase bitcoin's relative worth to the dollar.

Since my small purchase won't have much of an effect on the currency, I really don't think that any of you can read this post--a speculation of media speculations on bitcoin speculation speculation--and accurately speculate on anything. Or I could just be speculating that.

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May 29, 2011, 10:32:21 PM
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Yeah, Reuters has missed every bubble from the 90's tech stocks, dot.com, housing, mortgage debt., CDO's, corporate debt, etc and yet they are genius enough to understand bitcoin AND call a bubble .... ha!

It really is hilarious. The Death Star Bubble is bearing down on them and they point to this little thing and scream "BUBBLE".

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
hazek
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May 29, 2011, 10:33:28 PM
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LOL Hahahahaha  Grin Awesome speculation, Horkabork, you speculative speculator you!

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Cryptoman
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May 30, 2011, 12:58:20 AM
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I don't know what I'm getting more tired of reading about, that Bitcoins can be used for illegal activity or that they can be used to buy alpaca socks.  Roll Eyes

"A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history." --Gandhi
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May 30, 2011, 01:47:54 AM
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I don't know what I'm getting more tired of reading about, that Bitcoins can be used for illegal activity or that they can be used to buy alpaca socks.  Roll Eyes

Cheesy

yeah, do they come with an embroided bitcoin logo?

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May 30, 2011, 02:32:52 AM
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I don't know what I'm getting more tired of reading about, that Bitcoins can be used for illegal activity or that they can be used to buy alpaca socks.  Roll Eyes
Cheesy
yeah, do they come with an embroided bitcoin logo?

You know, Id buy that idea for a bitcoin !

Alpaca socks embroidered with a BitCoin logo - love it.  Smiley
Im off to find the sock seller and suggest it !
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