Welcome to Bitcoin's Boring Era

[Possum577]

http://finance.yahoo.com/news/welcome-bitcoins-boring-era-175904966.html;_ylt=A0LEVx404HNVf2wAaQJXNyoA;_ylu=X3oDMTByMjB0aG5zBGNvbG8DYmYxBHBvcwMxBHZ0aWQDBHNlYwNzYw--

Here is a characteristic sentence from Nathaniel Popper’s new bitcoin book, “Digital Gold.” It’s about Mark Karpeles, head of the Tokyo-based and now-defunct Mt. Gox:

He was two years into running the world’s largest Bitcoin exchange, but he still had not attended a single Bitcoin event abroad -- a fact that he blamed on the sickness of his cat, Tibanne, who needed daily shots that Mark believed only he could administer.

I still don’t really know what a bitcoin is, of course. But that’s because the inhabitants of bitcoinworld haven’t entirely decided yet either. Popper, speaking on a panel a couple weeks ago at the New York Public Library, offered three metaphors for the “different things going on in bitcoin”:

Digital gold: “It’s a scarce commodity like gold, but instead of a physical substance it’s a digital substance.”
E-mail for money: “It is a way that you can send money just as you can send information with e-mail to someone anywhere in the world as long as you have their address.”
A big spreadsheet in the sky, “in which all of these little digital tokens are recorded. It’s that spreadsheet that allows for some of the more complicated uses of bitcoin, and that gets people thinking in really futuristic terms.”
I thought that was pretty good, but venture capitalist Fred Wilson, who was also on the panel, wasn’t satisfied with the spreadsheet bit.

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I can't say I blame him - bitcoin has been a bit boring recently. Has anyone read this book, Digital Gold? If so, what did you think?

[Newar]

Boring in the way that it just simply works?

[virtualx]

http://finance.yahoo.com/news/welcome-bitcoins-boring-era-175904966.html;_ylt=A0LEVx404HNVf2wAaQJXNyoA;_ylu=X3oDMTByMjB0aG5zBGNvbG8DYmYxBHBvcwMxBHZ0aWQDBHNlYwNzYw--

Here is a characteristic sentence from Nathaniel Popper’s new bitcoin book, “Digital Gold.” It’s about Mark Karpeles, head of the Tokyo-based and now-defunct Mt. Gox:

He was two years into running the world’s largest Bitcoin exchange, but he still had not attended a single Bitcoin event abroad -- a fact that he blamed on the sickness of his cat, Tibanne, who needed daily shots that Mark believed only he could administer.

I still don’t really know what a bitcoin is, of course. But that’s because the inhabitants of bitcoinworld haven’t entirely decided yet either. Popper, speaking on a panel a couple weeks ago at the New York Public Library, offered three metaphors for the “different things going on in bitcoin”:

Digital gold: “It’s a scarce commodity like gold, but instead of a physical substance it’s a digital substance.”
E-mail for money: “It is a way that you can send money just as you can send information with e-mail to someone anywhere in the world as long as you have their address.”
A big spreadsheet in the sky, “in which all of these little digital tokens are recorded. It’s that spreadsheet that allows for some of the more complicated uses of bitcoin, and that gets people thinking in really futuristic terms.”
I thought that was pretty good, but venture capitalist Fred Wilson, who was also on the panel, wasn’t satisfied with the spreadsheet bit.

---------
I can't say I blame him - bitcoin has been a bit boring recently. Has anyone read this book, Digital Gold? If so, what did you think?

Bitcoin is a peer-to-peer electronic cash system. A system for electronic transactions without relying on trust. 
Its based on the usual framework of coins made from digital signatures, which provides strong control of ownership, but is incomplete without a way to prevent double-spending. To solve this, Satoshi proposed a peer-to-peer network using proof-of-work to record a public history of transactions that quickly becomes computationally impractical for an attacker to change if honest nodes control a majority of the computational power.

I think we get used to technology very quickly, so much that we can't imagine our life without it.

[Amph]

if by boring you mean no random bubble with a random crash afterward, then this is why bitcoin was aiming to since the beginning, stability,we have just reached it a bit prematurely

meanwhile behind the bitcoin scene, many company are investing, making it everything but boring

[Southampton]

I think bitcoin has hit a bit of a boring slump. I think there's just no excitement or interest from the media currently. I'm sure it'll pick up again eventually but I think we need some good news to get bitcoin back buzzing in the media again. All we've had recently was the SR trail and that's not exactly great publicity.

[Hazir]

So what is the the purpose of this article:

1. They are writing about Karpeles and his cat.
2. They are wondering what exactly bitcoin can be classified: commodity or currency.
3. Author is wondering who is the famous Sathoshi - creator of bitcoin.
4. And he said that:  "the latest generation of bitcoin backers is that they’re already rich and kind of boring. These are people who hire other people to give shots to their cats."

So could you tell me what what the hell did I just read?

[Kprawn]

Could it be that the author of that article was bored, and looked for some tid bits from previous scandals to spice up his article?

We all asked for this, and now it's boring?

We asked for stability {Everyone was saying....Bitcoin is too volatile} and we asked for less scandals.... So it calmed down... MtGox is done.. Silkroad is done.

Let's enjoy the boring period with the slow and steady growth...    Let the media rather write about Mark's cat. 

[Possum577]

if by boring you mean no random bubble with a random crash afterward, then this is why bitcoin was aiming to since the beginning, stability,we have just reached it a bit prematurely

meanwhile behind the bitcoin scene, many company are investing, making it everything but boring

Yes, this! I think that's what the article is alluding to, and it's definitely what I was referring to. The article more directly is a plug for the book Digital Gold. Has anyone read this book?

And I never said that boring was a bad thing! But from the press perspective, there's not much significant crazy news going on with bitcoin - no price swings, no scandal, no fallout.

Boring is beautiful in this business. Banks are boring. Stocks are (usually) boring. Both make a lot of f*cking money. If we want business to really adopt bitcoin, it NEEDS to be boring for a while! And when that boredom breaks, hopefully it will be on the news that bitcoin use is exploding among the masses!

[unamis76]

These guys saying that Bitcoin is boring definitely don't understand what it's about. They only have eyes for fiat, and since Bitcoin is too much of a risky terrain for them to have a profit, they disregard it.

After reading the OP, I definitely don't want to read this guy's book...

[ajareselde]

Boring in the way that it just simply works?

Good reply !

These guys saying that Bitcoin is boring definitely don't understand what it's about. They only have eyes for fiat, and since Bitcoin is too much of a risky terrain for them to have a profit, they disregard it.
After reading the OP, I definitely don't want to read this guy's book...

I guess people got used to drama surrounding bitcoin every week, so now when price doesn't jump too much , and there is not as much drama with hack and thefts; people are bored i guess.
But you know what they say, theres always calm before the storm, or did you think that they will be yelling : buy before the halving and profit with us !

cheers

[AtheistAKASaneBrain]

In what part does he say the boring thing? Not in your quotes.
Anyway, for me Bitcoin right now is exciting as ever, but clueless people only look at the price for excitement, and the price has been on a pretty solid 200-300 range for a while, which is excellent news to anyone with a brain (this means more time to stack up entire units of BTC, will will be mission impossible in the next years).

[coinableS]

The only thing more boring than watching the boring bitcoin market is discussing the boring market 
On a positive note if you are long term bullish like myself the last 6 months has been a great opportunity to accumulate more coins being less than $300. I've only done one trade recently, luckily I was on the correct side for that trade, but the lack of movement makes it less fun to trade

[keyscore44]

it wasn't long ago there was a lot of complaining about btc's volatility, now it's stableish people want more price movements

there's still lots of interesting developments, whether it's the blocksize drama or the latest company to accept btc. think some people may have just got more desensitized to everything

[newIndia]

http://finance.yahoo.com/news/welcome-bitcoins-boring-era-175904966.html;_ylt=A0LEVx404HNVf2wAaQJXNyoA;_ylu=X3oDMTByMjB0aG5zBGNvbG8DYmYxBHBvcwMxBHZ0aWQDBHNlYwNzYw--

The crypto world is never boring. IF the price is stable, it is ineresting to see how hundreds of people are working together to destabilize the price

[unamis76]

I guess people got used to drama surrounding bitcoin every week, so now when price doesn't jump too much , and there is not as much drama with hack and thefts; people are bored i guess.
But you know what they say, theres always calm before the storm, or did you think that they will be yelling : buy before the halving and profit with us !

cheers

Not cool when people are "drama queens"

Thefts and "drama" happen everyday with fiat, and I don't see these guys saying anything about that. I hope these kinds of "outsiders" never buy Bitcoin (therefore no profit whatsoever in any halving).

[NorrisK]

it wasn't long ago there was a lot of complaining about btc's volatility, now it's stableish people want more price movements

there's still lots of interesting developments, whether it's the blocksize drama or the latest company to accept btc. think some people may have just got more desensitized to everything

People are never satisfied. The grass is always greener on the other side of the fence. If it is stable, we want volatility, if it is volatile, we want stability. Just human nature

[Meuh6879]

boring is SAFE.

on this century, eventually ...

[subSTRATA]

I think bitcoin has hit a bit of a boring slump. I think there's just no excitement or interest from the media currently. I'm sure it'll pick up again eventually but I think we need some good news to get bitcoin back buzzing in the media again. All we've had recently was the SR trail and that's not exactly great publicity.

exactly, there was some buzz about bitcoin when the price jumped to 1000 USD+ a few years ago, but right now theres nothing that big to write news about bitcoin on, not in a positive light anyways. the only things i hear are negative, like that man who got robbed at gunpoint for bitcoins.

[jayce]

People are never satisfied.

True. That's why people always create new things in purpose to make easier or more efficient, but sometimes the things can be worse to us.