The Bullish Bitcoin Media Center (The ONLY Bullish Bitcoin News Thread)

[Fakhoury]

News URL : https://twitter.com/BitfuryGeorge/status/656570601855918080

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[n2004al]

Why pardon you? Everyone have the right to have its thoughts. No need for pardon with me, never. Except when you or something other author of the thought or the write offends or attack me.  

About the the existence of the bitcoin black market I think that this kind of market (or any other) cannot exist for something known only by 10 or 100 people in all the country. Maybe may exist someone who want to hide its illegal money and can buy some bitcoin is some exchange out of the countries but this cannot be named black market. They cannot mine if the party doesn't want it. They cannot mine in secrecy bitcoin because now needed expensive hardware that (even it will be the monetary possibility to buy those and i doubt very much in their good finances) if the party doesn't allow or doesn't want to allow the entrance of that hardware in the country, so it will be for sure. If in some way they will be able to mine, one day they will be discovered for sure and will go in jail or die for this. I don't want to go further because it is in vain. You must try yourself the life in this kind of country to understand. So the only way to have bitcoin is to buy those in the exchanges out of the country. Even if exist such activity (I doubt on this) this cannot be called black market. Everyone act for yourself without sell and buy from the others within the country. To not forge that they control even the internet through the providers and can do what they want. Even block all the bitcoin exchanges. North Korea has for example an internet totally out of the world network for the people. Which mean active only within this country. No one bit cannot enter on it without be totally controlled and no one bit can go out of it without totally controlled. The access in the normal internet is restricted to regime elites and select university students. Read more about this here in the section "Internet" of this link: https://en.wikipedia.org/wiki/Censorship_in_North_Korea

For the above reasons but even because I think that the majority of them don't know what to do do with the bitcoins if they will have those (the life in that countries is very simple), except China and maybe Vietnam (I am confuse about the situation there because of the contradictory data that I have) there are no chances according to me to exist any bitcoin black market (for this kind of market I'm talking even in the previous post) in the above countries.

As about the power and the amount of control in a country with one political party I'm sure that, as I told above, you will be never able to understand those because to know such thing you may live for a period of time under their dictatorship. Not only this; you must be citizen and in the same race of the others. So you need to be Laotian and live in Laos or you must be North Korean and live in North Korea. Only in this way you can understand. You can die by the Authorities only for one word told innocently but that can be judged as an attack to their power and being only them leaders in that country.

Bitcoin here my friend could act as a safe tax heaven and to help to save your wealth from capital controls

This alone, could skyrocket the price.

I mentioned this but this doesn't create the internal bitcoin black market. The existence of the internal bitcoin black market was the question about was the discussion. That is the first thing.

The second is that I cannot understand how is possible that the price goes at the sky as you pretend if they cannot mine but only buy bitcoins from the exchanges out of their country. The price of those exchanges cannot be moved by the buy of bitcoins from 100 or 200 people. There is not internal bitcoin black market. The reasons are in the previous post. If don't exist the internal bitcoin black market I don't see any way in which can be changed or even exist an internal price of bitcoin.

Third I doubt that in those countries are to many the people with big money which have no power and need to hide its money. If you have power in those countries you don't need to hide those. If you have no power you have no money, or at least big money. If you are a criminal and have money I doubt that they can by bitcoin. But it will be so the criminals are very few and cannot have any weight in the movement of the price of bitcoin. Cannot have never.

Four, you must read the restriction they had in internet and the possibility of access on it by the normal people.

Five, you must understand the power of political dictatorship on these countries and the enormous fear that this nomocracy raise to everyone in doing not allowed things. In North Korea Kim Jong-Un killed 15-16 very high political people (all between the most loyal people of its father and even his aunt's husband). They was, until the moment of their death at the top of the power. In this kind of countries people have fear even from themselves. It is normal when you see such kind of things.

The above factors reduce at minimum the number of the people which are able to do things against the rules imposed by the political party and its leader. The above things and the difficulty of their life make the people to not think about bitcoin and not to have in mind to skyrocket its price (if will have the possibility or the power tom do such thing).

[Fakhoury]

News URL : http://www.coindesk.com/jersey-government-to-introduce-digital-currency-legislation-next-year/

[Fakhoury]

News URL : http://www.coinfox.info/news/3422-australian-government-promises-to-regulate-bitcoin-in-a-graduated-way

[Fakhoury]

News URL : http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11944002/Online-giants-work-on-gold-standard-for-internet-shopping.html

[Fakhoury]

News URL : https://buyabitcoin.com.au/blog/tipping-through-bitcoin-the-new-social-experience-online/

[Fakhoury]

News URL : http://finextra.com/news/fullstory.aspx?newsitemid=28011

[Fakhoury]

News URL : https://bitcoinmagazine.com/articles/bitpay-ceo-stephen-pair-we-re-open-to-alternative-block-size-proposals-1445439743

[Fakhoury]

News URL : http://blog.holytransaction.com/2015/10/what-will-be-future-implications-of-bitcoin.html

[Fakhoury]

News URL : https://twitter.com/jgarzik/status/656853984511172609

[Fakhoury]

I mentioned this but this doesn't create the internal bitcoin black market. The existence of the internal bitcoin black market was the question about was the discussion. That is the first thing.

The second is that I cannot understand how is possible that the price goes at the sky as you pretend if they cannot mine but only buy bitcoins from the exchanges out of their country. The price of those exchanges cannot be moved by the buy of bitcoins from 100 or 200 people. There is not internal bitcoin black market. The reasons are in the previous post. If don't exist the internal bitcoin black market I don't see any way in which can be changed or even exist an internal price of bitcoin.

Third I doubt that in those countries are to many the people with big money which have no power and need to hide its money. If you have power in those countries you don't need to hide those. If you have no power you have no money, or at least big money. If you are a criminal and have money I doubt that they can by bitcoin. But it will be so the criminals are very few and cannot have any weight in the movement of the price of bitcoin. Cannot have never.

Four, you must read the restriction they had in internet and the possibility of access on it by the normal people.

Five, you must understand the power of political dictatorship on these countries and the enormous fear that this nomocracy raise to everyone in doing not allowed things. In North Korea Kim Jong-Un killed 15-16 very high political people (all between the most loyal people of its father and even his aunt's husband). They was, until the moment of their death at the top of the power. In this kind of countries people have fear even from themselves. It is normal when you see such kind of things.

The above factors reduce at minimum the number of the people which are able to do things against the rules imposed by the political party and its leader. The above things and the difficulty of their life make the people to not think about bitcoin and not to have in mind to skyrocket its price (if will have the possibility or the power tom do such thing).

I will reply tomorrow my friend, stay tuned

[Fakhoury]

Great Read: "The World´s First Decentralized System For Financial And Legal Transactions" by Chris Odom (Check Chapter #15)

News URL : http://goertzel.org/End_of_the_Beginning_July_2015.pdf

[Fakhoury]

It's happening: payment consultants get confused over the blockchain

News URL : https://twitter.com/leimer/status/656945883871768576

[Fakhoury]

News URL : http://www.thestreet.com/story/13319579/1/bitcoin-may-change-our-world-in-ways-as-profound-as-the-internet.html

[Fakhoury]

News URL : http://www.wsj.com/articles/bitcoin-technology-poised-to-grow-ceo-says-1445460736

[Fakhoury]

New yBitcoin just rolled off the presses- of 42,000 print run over 6,000 will be seat dropped at Money2020's opening keynote and 15,000 copies will be distributed at doors of CES. Thank you to our 17 cover sponsors, especially Nasdaq! Can't wait for everyone to see it!

News URL : https://twitter.com/DavidFBailey/status/656931685855043584

[Fakhoury]

News URL : https://www.cryptocoinsnews.com/chinas-cyberspace-administration-acknowledges-bitcoin/

[Fakhoury]

News URL : https://bitcoinmagazine.com/articles/globalizing-digital-currency-trends-gaps-opportunities-1444311947

[Fakhoury]

News URL : https://twitter.com/btcfoundation/status/656925738436808704

[Fakhoury]

News URL : https://bitcoinmagazine.com/articles/water-project-inc-launches-bitcoin-initiative-to-help-sub-saharan-countries-1445438275