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Author Topic: Welcome to $200M market cap  (Read 2280 times)
mamad
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June 08, 2011, 04:03:35 PM
 #1

Title says it all.  With the total of 6,470,250 BTC and market value of $31  we are now passed the $200,000,000 mark. Next milestone is half a billion!

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Bit_Happy
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June 08, 2011, 04:07:04 PM
 #2

Are we ready for prime time?

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June 08, 2011, 05:56:47 PM
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Awesome! Silver parity, here we come Cool.

Hans0
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June 08, 2011, 10:43:44 PM
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the critical mass has been reached now but there is one test left: Will we survive as an illegal currency?
em3rgentOrdr
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June 08, 2011, 11:40:21 PM
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the critical mass has been reached now but there is one test left: Will we survive as an illegal currency?

Sure.  Illegal drugs have been survivng and flourishing for decades even after they instituted the war on drugs.  Illegal immigrants (how a human being could possibly be considered "illegal" is beyond me) have been continuing to flow across the border and work and live prosperous lives even as they are being hunted down by ICE and Republicans.  Illegal filesharing (how can an idea be "illegal" and how can moving and copying electrons be considered a crime?) has been continuing to go on inside everybodys home network ever through bittorrent and other means ever after they crack. Oh y. eed down on napster.  Oh yeah, and few people bother to come to a complete stop ar at stop sign.

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
Hans0
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June 08, 2011, 11:45:11 PM
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the critical mass has been reached now but there is one test left: Will we survive as an illegal currency?

Sure.  Illegal drugs have been survivng and flourishing for decades even after they instituted the war on drugs.

This is my opinon, too. When I buy a house for 1m$, I could pay 450k$ in cash and 450k$ in BTC to save on taxes. The saved amount gets split. Or, travel to africa and return with a new car. Nobody knows how that got payed.

Finally, the ridiculous movie scenes where a drug dealer transfers money on a laptop watching a progress bar going left to right will become terrible reality ;-)
enmaku
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June 08, 2011, 11:47:48 PM
 #7

the critical mass has been reached now but there is one test left: Will we survive as an illegal currency?

Sure.  Illegal drugs have been survivng and flourishing for decades even after they instituted the war on drugs.

This is my opinon, too. When I buy a house for 1m$, I could pay 450k$ in cash and 450k$ in BTC to save on taxes. The saved amount gets split. Or, travel to africa and return with a new car. Nobody knows how that got payed.

Finally, the ridiculous movie scenes where a drug dealer transfers money on a laptop watching a progress bar going left to right will become terrible reality ;-)


Except that now instead of a progress bar we get to watch him scream "F*CK! It's been at 5 for like a f*ckin' hour!"

Hans0
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June 08, 2011, 11:50:08 PM
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Except that now instead of a progress bar we get to watch him scream "F*CK! It's been at 5 for like a f*ckin' hour!"

Or "F*CK! The other guy's virus just emptied my wallet and sent away all the money!"
em3rgentOrdr
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June 08, 2011, 11:51:25 PM
 #9

Quote from: Hans0 link=top : :DDic=13527.msg187889#msg187889 date=1307576711
the critical mass has been reached now but there is one test left: Will we survive as an illegal currency?

Sure.  Illegal drugs have been survivng and flourishing for decades even after they instituted the war on drugs.

This is my opinon, too. When I buy a house for 1m$, I could pay 450k$ in cash and 450k$ in BTC to save on taxes. The saved amount gets split. Or, travel to africa and return with a new car. Nobody knows how that got payed.

Finally, the ridiculous movie scenes where a drug dealer transfers money on a laptop watching a progress bar going left to right will become terrible reality ;-)



Cheesy oops, and the noobie terrorist/villian accidentally forgot to download the block chain before making the drug deal and got stuck with really bad 56k bays phone line modem for internet access...

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
bitcredit
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June 08, 2011, 11:56:39 PM
 #10

Illegal immigrants (how a human being could possibly be considered "illegal" is beyond me)

Fuck you!
em3rgentOrdr
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June 09, 2011, 12:03:43 AM
 #11

Illegal immigrants (how a human being could possibly be considered "illegal" is beyond me)

Fuck you!

Huh?  Please explain?  Did an "illegal" rob, rape, and kill your entire family or something?  What is your opinion on "illegal" immigration?

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
mineority
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June 09, 2011, 12:13:20 AM
 #12

Finally, the ridiculous movie scenes where a drug dealer transfers money on a laptop watching a progress bar going left to right will become terrible reality ;-)

Like that idea!  Grin

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grue
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June 09, 2011, 12:30:37 AM
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Illegal immigrants (how a human being could possibly be considered "illegal" is beyond me)
i think the correct term is
Illegally immigrated

It is pitch black. You are likely to be eaten by a grue.

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June 09, 2011, 12:14:37 PM
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the critical mass has been reached now but there is one test left: Will we survive as an illegal currency?

Why is BitCoin illegal?
It's not. But a lot of people suspect there will be a global government crackdown.

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June 09, 2011, 12:32:01 PM
 #15

Sure.  Illegal drugs have been survivng and flourishing for decades even after they instituted the war on drugs.  Illegal immigrants (how a human being could possibly be considered "illegal" is beyond me) have been continuing to flow across the border and work and live prosperous lives even as they are being hunted down by ICE and Republicans.

+1
TheVirus
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June 09, 2011, 03:55:09 PM
 #16

There is a vast difference between illicit drugs and an illegal currency. Drugs are tangible and consumable, bitcoins are not. Bitcoins will only have value if people give them value. If there's no way to exchange Bitcoins for tangible currency then they will have no value. No one is going to want to sell you a TV, worth $1000, for 1000 BTC, if they can't do anything with the coins. If the currency is illegal then the vast majority of outlets are gone. No company is going to accept them and the black market can't use them to buy goods since they have no intrinsic value.

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cindylove
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June 09, 2011, 04:21:42 PM
 #17

I don't think we are quite ready for prime time yet. Security wise this system seems amazingly robust, the weak point is the Exchanges. There are still so few that The Corporate States of America can cripple the currency in the blink of an eye by going after exchanges. I've only heard of a handful which is very sall for an estimated user base of around 30,000 BitCoiners. This won't kill BitCoin but it will set it back significantly.
DrSammyD
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June 09, 2011, 04:56:53 PM
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I don't think we are quite ready for prime time yet. Security wise this system seems amazingly robust, the weak point is the Exchanges. There are still so few that The Corporate States of America can cripple the currency in the blink of an eye by going after exchanges. I've only heard of a handful which is very sall for an estimated user base of around 30,000 BitCoiners. This won't kill BitCoin but it will set it back significantly.

Not if they're based in countries outside of the US.

TheVirus
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June 09, 2011, 05:28:03 PM
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I don't think we are quite ready for prime time yet. Security wise this system seems amazingly robust, the weak point is the Exchanges. There are still so few that The Corporate States of America can cripple the currency in the blink of an eye by going after exchanges. I've only heard of a handful which is very sall for an estimated user base of around 30,000 BitCoiners. This won't kill BitCoin but it will set it back significantly.

Not if they're based in countries outside of the US.

The US can pressure the countries into closing them.

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