lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
February 14, 2013, 09:38:37 AM Last edit: August 10, 2013, 11:56:58 AM by lebing |
|
I'm going to keep this thread updated with the most important fundamental reasons (not technical) which will in the long term, move the price. Hopefully over the long term this reduces the number of "OMG?! why is the price going X??" I will be limiting the updates I make to this thread to only those items which have the power to significantly affect adoption/ move the market. I'm sure I missed a few things, so feel free to post and remind me. Bitcoin charts on bloomberg for employees, coming soon to everyone http://techcrunch.com/2013/08/09/bitcoin-ticker-available-on-bloomberg-terminal/TLDR Bitcoin now officially mainstreamBitpay partners with 3dcart http://btcbible.com/bitpay-partners-with-3dcart/TLDR Bitcoin now available as a payment option to 16,000 new merchantsBitcoin finally coming to Africa http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/TLDR A SMS/ web hybrid system is being developed now which will reach the place where bitcoin has the most potential for organic growth.Bitcoin ETF (once approved by the SEC) coming soon http://www.pcworld.com/article/2043473/winklevoss-twins-will-secure-bitcoins-like-gold-in-vaults.htmlTLDR You might soon be able to purchase bitcoin derivatives from your stock brokerWebmoney (Russian Paypal with 11 million users) is now an exchange and wallet servicing p2p and merchants http://www.thegenesisblock.com/bitcoin-access-expanded-to-over-11-million-users-of-webmoney/TLDR Big pressure was just put on Paypal to integrate sooner rather than later.Okcupid is now accepting bitcoin (7 million users) http://arstechnica.com/business/2013/04/okcupid-says-it-will-accept-bitcoin-as-currency-falls-to-recent-low/Hedge fund looking to inject 1 billion € into bitcoin for large investors https://exante.eu/press/news/266/TLDR Big €€€ starting to move into BitcoinWestern Union looking to integrate bitcoin into services http://mobile.blogs.wsj.com/cio/2013/04/01/western-union-eyes-digital-currency-services/TLDR Bitcoin is on the verge of worldwide physical exchange infrastructureExpensify Brings Bitcoin to Main Street http://www.businessweek.com/articles/2013-03-29/expensify-brings-bitcoin-to-main-streetTLDR App with 200,000 business users is leveraging bitcoins strengths New zealand, Cyprus & other Mediterranean countries considering/ have decided to confiscate "one time" X% of depositor funds http://www.nytimes.com/2013/03/24/world/europe/russian-ties-put-cyprus-banking-crisis-on-east-west-fault-line.html?pagewanted=all&_r=0TLDR The money you thought was safe from theft in your bank account is not safe (especially if you live in an at risk country in the euro zone).FINCEN releases guidance for virtual currencies (bitcoin) http://www.fincen.gov/statutes_regs/guidance/pdf/FIN-2013-G001.pdfTLDR Small exchanges based in the USA will likely have a tough time due to this, but by making the grey legal area black & white, it will make larger players willing to step forward. In other words, bitcoin is now legal.Blockchain forked, but problem solved http://www.reddit.com/r/Bitcoin/comments/1a51xx/now_that_its_over_the_blockchain_fork_explained/TLDR Double spend issue has been fixed in the short term and long term with the new roll out planAmazon fulfillment integrates with Bitpay http://www.marketwatch.com/story/bitpay-integrates-bitcoin-with-fulfillment-by-amazoncom-2013-03-06TLDR There is now a convenient way for anyone (registered business @ Amazon) to sell anything with bitcoins through AmazonBitspend.net https://bitspend.net/TLDR You can now buy ANYTHING on the net with bitcoins (under $100 during beta and under $1000 after beta ends)Coinlab Bringing Bitcoin to Wall Street with MtGox Deal - http://bitcoinmagazine.com/coinlab-bringing-bitcoin-to-wall-street-with-mtgox-dealTLDR - Details are sketchy at this point, but it seems that there may be a deal coming up which will bring bitcoin into the forex market. I'm including this here because of the absolutely insane effect this would have on the price if this were in fact happening. Mega - https://twitter.com/KimDotcom/status/302844443223023616TLDR - The service formerly known as Megaupload (which was the top non-torrent based file sharing service on the net) is now accepting BitcoinsReddit - http://blog.reddit.com/2013/02/new-gold-payment-options-bitcoin-and.htmlTLDR - One of the largest sites on the internet is now accepting bitcoin for their premium service!Bitpay - http://blog.bitpay.com/search?updated-max=2012-12-06T10:13:00-05:00&max-results=7TLDR - Merchants are signing up in droves with Bitpay's (and other payment processors) payment systemWordpress - http://en.blog.wordpress.com/2012/11/15/pay-another-way-bitcoin/TLDR - The largest blog network on the internet is now accepting bitcoins. This paves the way for wider, mainstream bitcoin adoptionCoinbase - http://blog.coinbase.com/post/42587245753/coinbase-is-now-selling-over-1m-usd-of-bitcoin-perTLDR - It just got alot easier for users in the largest bitcoin market in the world (USA) to acquire bitcoins and it is showing up in the numbers.SatoshiDice/gambling potential: http://calvinayre.com/2013/02/01/business/why-bitcoin-can-no-longer-be-ignored/TLDR - While its not possible to gamble with dollars in the US, it is possible with bitcoins. The big players are starting to take notice of this fact and over the next few months its likely that we will see one emerge onto the sceneBlockchain: https://blockchain.info/charts/my-wallet-n-users?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=TLDL - The best online wallet is experiencing exponential growth of new users
|
Bro, do you even blockchain? -E Voorhees
|
|
|
|
|
|
|
In order to achieve higher forum ranks, you need both activity points and merit points.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
February 14, 2013, 09:57:10 AM Last edit: March 08, 2013, 09:20:17 PM by lebing |
|
|
Bro, do you even blockchain? -E Voorhees
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
February 14, 2013, 09:57:24 AM |
|
reserved
|
Bro, do you even blockchain? -E Voorhees
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
February 15, 2013, 05:50:25 AM |
|
|
Bro, do you even blockchain? -E Voorhees
|
|
|
niko
|
|
February 15, 2013, 06:58:24 AM |
|
No bad news whatsoever? At least developers' words of caution? I just spent 10 minutes trying to come up with something serious, but failed.
|
They're there, in their room. Your mining rig is on fire, yet you're very calm.
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
February 15, 2013, 07:28:03 AM |
|
this is a good idea... I think the ECB paper was a huge bullish event since journalists can now quote from a "trusted source" (lol, can't believe I said that) about bitcoin: http://www.forbes.com/sites/jonmatonis/2012/11/03/ecb-roots-of-bitcoin-can-be-found-in-the-austrian-school-of-economics/Do you also accept more general fundamental properties of bitcoin as bull-reasons? Here are a few for starters I wont back up with articles: - Bitcoin is sound free market money with known supply for the people against authoritarian
- Bitcoin has low barrier to entry and can be used anonymously
- The network effect: bitcoin is viral interenet money
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
February 15, 2013, 09:43:30 AM |
|
this is a good idea... I think the ECB paper was a huge bullish event since journalists can now quote from a "trusted source" (lol, can't believe I said that) about bitcoin: http://www.forbes.com/sites/jonmatonis/2012/11/03/ecb-roots-of-bitcoin-can-be-found-in-the-austrian-school-of-economics/Do you also accept more general fundamental properties of bitcoin as bull-reasons? Here are a few for starters I wont back up with articles: - Bitcoin is sound free market money with known supply for the people against authoritarian
- Bitcoin has low barrier to entry and can be used anonymously
- The network effect: bitcoin is viral interenet money
I agree Mol that the ECB paper was big for the reputation of the currency & knowledge among the "elites", but I won't include it here because I really want to limit it to only those events which will affect the price directly. I don't think a background on the properties of bitcoin is possible/ desirable for within the confines of this thread. Most people get to this subforum because they already understand these things anyway.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
February 15, 2013, 12:49:23 PM |
|
this is a good idea... I think the ECB paper was a huge bullish event since journalists can now quote from a "trusted source" (lol, can't believe I said that) about bitcoin: http://www.forbes.com/sites/jonmatonis/2012/11/03/ecb-roots-of-bitcoin-can-be-found-in-the-austrian-school-of-economics/Do you also accept more general fundamental properties of bitcoin as bull-reasons? Here are a few for starters I wont back up with articles: - Bitcoin is sound free market money with known supply for the people against authoritarian
- Bitcoin has low barrier to entry and can be used anonymously
- The network effect: bitcoin is viral interenet money
I agree Mol that the ECB paper was big for the reputation of the currency & knowledge among the "elites", but I won't include it here because I really want to limit it to only those events which will affect the price directly. I don't think a background on the properties of bitcoin is possible/ desirable for within the confines of this thread. Most people get to this subforum because they already understand these things anyway. Maybe you should consider slightly renaming this thread then, because I was thinking exactly of that (fundamental properties) when I read the title. Maybe something like: "fundamental events", I don't know...
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
February 15, 2013, 04:04:09 PM |
|
this is a good idea... I think the ECB paper was a huge bullish event since journalists can now quote from a "trusted source" (lol, can't believe I said that) about bitcoin: http://www.forbes.com/sites/jonmatonis/2012/11/03/ecb-roots-of-bitcoin-can-be-found-in-the-austrian-school-of-economics/Do you also accept more general fundamental properties of bitcoin as bull-reasons? Here are a few for starters I wont back up with articles: - Bitcoin is sound free market money with known supply for the people against authoritarian
- Bitcoin has low barrier to entry and can be used anonymously
- The network effect: bitcoin is viral interenet money
I agree Mol that the ECB paper was big for the reputation of the currency & knowledge among the "elites", but I won't include it here because I really want to limit it to only those events which will affect the price directly. I don't think a background on the properties of bitcoin is possible/ desirable for within the confines of this thread. Most people get to this subforum because they already understand these things anyway. Maybe you should consider slightly renaming this thread then, because I was thinking exactly of that (fundamental properties) when I read the title. Maybe something like: "fundamental events", I don't know... Good call - I changed it to fundamental analysis
|
Bro, do you even blockchain? -E Voorhees
|
|
|
xcsler
|
|
February 15, 2013, 11:22:59 PM |
|
Bearish data: Scalability? I'm not a technie but the whole scalability issue concerns me a bit. I don't know whether to believe Hearn et al. or Kaminsky. All I do know is that it takes a long time to sync Bitcoin-qt on my laptop and Bitcoin hasn't yet been entered the mainstream. What happens when the number of transactions per day increases 10,000 fold?
|
|
|
|
byronbb
Legendary
Offline
Activity: 1414
Merit: 1000
HODL OR DIE
|
|
February 15, 2013, 11:31:31 PM |
|
Bearish data: Scalability? I'm not a technie but the whole scalability issue concerns me a bit. I don't know whether to believe Hearn et al. or Kaminsky. All I do know is that it takes a long time to sync Bitcoin-qt on my laptop and Bitcoin hasn't yet been entered the mainstream. What happens when the number of transactions per day increases 10,000 fold?
They use a wallet like blockchain.info. Most end users will never deal with a wallet on their computer, nor should they.
|
|
|
|
piramida
Legendary
Offline
Activity: 1176
Merit: 1010
Borsche
|
|
February 16, 2013, 06:59:03 AM |
|
It only makes sense to have the full blockchain if you are actively mining (and even then, can just have unspent inputs, full chain can be stored for archival purposes on several machines only). So thin clients should obviously be promoted on the bitcoin main site, when devs consider it is ready for wide adoption.
|
i am satoshi
|
|
|
xcsler
|
|
February 16, 2013, 06:31:08 PM |
|
Does the presence of the full blockchain on only a few machines make the Bitcoin network more vulnerable to fraudulent transactions?
|
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
February 17, 2013, 06:59:00 AM |
|
Thanks, I was lazy yesterday =P Updated
|
Bro, do you even blockchain? -E Voorhees
|
|
|
xxjs
|
|
February 17, 2013, 03:16:17 PM |
|
Long time fundamental forward outlook:
The value of a bitcoin will rise with adoption, until some optimal adoption level is achieved. On the way up, speculators who correctly foresee this level, will put an upward pressure to the value earlier.
If speculators erroneusly predict the optimal adoption level, the value may overshoot, and we will have a period with lower value.
When the optimal level of adoption is reached, a bitcoin hoard can no longer be regarded as an entrepreneural investment, so bitcoin will slowly move from the hoards to profit making investments in the real economy. That is a slow downwards pressure on the value of a bitcoin.
Additionally, economic events will happen around the world, creating volatility for bitcoin as it does for other currencies.
You will have to fill in the metrics for yourself, it is not really possible to predict.
|
|
|
|
KTE
Member
Offline
Activity: 69
Merit: 10
|
|
February 17, 2013, 04:04:14 PM |
|
That's about right, the long term fundamental outlook. Right now I have a hard time believing that there is a single opportunity in all of the financial industry that has more visible potential than BTC. The viability of a level headed investment on BTC comes from the visible risk of BTC being orders of magnityde lower than you would expect for something that has this much potential. Sugar on top, the risks have diminished considerably in the past year.
That this possibility exists is only possible because BTC is such a novel concept that it requires a considerable amount of expertise to assess not only the potential but much more importantly the risks.
|
|
|
|
xxjs
|
|
February 17, 2013, 04:12:02 PM |
|
I totally agree. This is unprecedented, rewart/risk is higher than any other investment. A once in a lifetime opportunity.
|
|
|
|
TraderTimm
Legendary
Offline
Activity: 2408
Merit: 1121
|
|
February 17, 2013, 05:03:47 PM |
|
On a fundamental basis, I see the freedom that bitcoin offers as being a huge inducement. I'd also like to see us move away from edge-exchanges when trying to 'value' bitcoin. The redeemable quality of bitcoin is an attraction right now, but I'd like to have just BTC to BTC transfers happening than any BTC --> Sovereign Currency trades.
You can't put a price on freedom, so fundamentally I see a bright future for bitcoin and its successors (if any).
|
fortitudinem multis - catenum regit omnia
|
|
|
xxjs
|
|
February 17, 2013, 05:11:16 PM |
|
On a fundamental basis, I see the freedom that bitcoin offers as being a huge inducement. I'd also like to see us move away from edge-exchanges when trying to 'value' bitcoin. The redeemable quality of bitcoin is an attraction right now, but I'd like to have just BTC to BTC transfers happening than any BTC --> Sovereign Currency trades.
You can't put a price on freedom, so fundamentally I see a bright future for bitcoin and its successors (if any).
I agree. When adoption is completed, there is still tons of reasons both to use and to save bitcoins.
|
|
|
|
Zangelbert Bingledack
Legendary
Offline
Activity: 1036
Merit: 1000
|
|
February 17, 2013, 05:22:48 PM |
|
The value proposition for libertarians is indeed/literally unbelievable: "So yeah, you just put in a few grand, lie low for 5-10 years, and wake up fabulously wealthy in a technologically advanced libertopia."
|
|
|
|
Peter Lambert
|
|
February 17, 2013, 05:28:21 PM |
|
When the optimal level of adoption is reached, a bitcoin hoard can no longer be regarded as an entrepreneural investment, so bitcoin will slowly move from the hoards to profit making investments in the real economy. That is a slow downwards pressure on the value of a bitcoin.
While "hoarding" bitcoins will no longer be an income generating investment, keeping "savings" in bitcoin will still be a way to avoid inflation. As the bitcoin economy matures, the volatility will decrease, which will make such a method of savings more secure as well. People using bitcoins as a savings vehicle will help maintain the price value over the long run.
|
Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us
|
|
|
xxjs
|
|
February 17, 2013, 08:40:02 PM |
|
When the optimal level of adoption is reached, a bitcoin hoard can no longer be regarded as an entrepreneural investment, so bitcoin will slowly move from the hoards to profit making investments in the real economy. That is a slow downwards pressure on the value of a bitcoin.
While "hoarding" bitcoins will no longer be an income generating investment, keeping "savings" in bitcoin will still be a way to avoid inflation. As the bitcoin economy matures, the volatility will decrease, which will make such a method of savings more secure as well. People using bitcoins as a savings vehicle will help maintain the price value over the long run. Yes, still good for saving. To the advantage of widows and the fatherless.
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
February 27, 2013, 08:46:18 PM |
|
Updated with "Coinlab Bringing Bitcoin to Wall Street with MtGox Deal"
|
Bro, do you even blockchain? -E Voorhees
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
March 04, 2013, 01:25:50 PM |
|
Updated with Bitspend.net
|
Bro, do you even blockchain? -E Voorhees
|
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
March 05, 2013, 05:51:40 PM |
|
Namecheap
I thought about it - but meh. I had never heard of them before the announcement.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
humanitee
|
|
March 05, 2013, 05:53:08 PM |
|
Namecheap
I thought about it - but meh. I had never heard of them before the announcement. Meh? You should go look them up. You won't be meh'ing afterwards. "They claim to have over 3 million domain names under management."
|
| | | Fast, Secure, and Fully
Decentralized Trading | BACKED BY: ─────────────────────────
| BINANCE ─────── LAB | & | █████████████████████████████████ █ ███ █▀ ▀█ ███▀▀▀▀▀████████ ████▀▀███▀ █ █ █████ ▄▄▄▄▄ █ ▀ █ ███ █ ██ █▄ ▀█ ██ █ ▄███ ██████ ███ █████ █ ██ ███ █ ████ ████ ▄ ███ █▄ ▄█▄ ▄█▄ ▀ ████▄ ▄█ ██ ██ ████████████████████████████████████████ |
|
|
| Whitepaper Medium Reddit
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
March 05, 2013, 07:09:21 PM |
|
Namecheap
I thought about it - but meh. I had never heard of them before the announcement. Meh? You should go look them up. You won't be meh'ing afterwards. "They claim to have over 3 million domain names under management." Cool. Is that bigger than godaddy et. al? I'm not doubting its big, but want to reserve the updates in this list for only the most significant impacts on the market (of which there are already plenty lately).
|
Bro, do you even blockchain? -E Voorhees
|
|
|
humanitee
|
|
March 05, 2013, 07:21:30 PM |
|
GoDaddy has 52 million domains, so... no.
|
| | | Fast, Secure, and Fully
Decentralized Trading | BACKED BY: ─────────────────────────
| BINANCE ─────── LAB | & | █████████████████████████████████ █ ███ █▀ ▀█ ███▀▀▀▀▀████████ ████▀▀███▀ █ █ █████ ▄▄▄▄▄ █ ▀ █ ███ █ ██ █▄ ▀█ ██ █ ▄███ ██████ ███ █████ █ ██ ███ █ ████ ████ ▄ ███ █▄ ▄█▄ ▄█▄ ▀ ████▄ ▄█ ██ ██ ████████████████████████████████████████ |
|
|
| Whitepaper Medium Reddit
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
March 06, 2013, 02:05:21 PM |
|
Updated with:
Amazon fulfillment integrates with Bitpay
|
Bro, do you even blockchain? -E Voorhees
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
March 06, 2013, 02:10:17 PM Last edit: March 06, 2013, 05:58:52 PM by lebing |
|
updated edit: updated again because that was a fake.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
Mushoz
|
|
March 06, 2013, 10:34:24 PM |
|
|
www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
|
|
|
SgtSpike
Legendary
Offline
Activity: 1400
Merit: 1005
|
|
March 06, 2013, 10:37:42 PM |
|
Haven't heard this news yet... how big is WinPoker? Are they the company that Gambling911 was talking about?
|
|
|
|
Mushoz
|
|
March 06, 2013, 10:43:52 PM |
|
Haven't heard this news yet... how big is WinPoker? Are they the company that Gambling911 was talking about? Haven't heard about WinPoker before, I think it's rather small. Still, the iPoker network is huge, so there should be plenty of action. Not sure if I trust this WinPoker with my money though.
|
www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
|
|
|
Gatekeeper
|
|
March 06, 2013, 10:48:23 PM |
|
don't forget about bitcoin store, it's a biggie with big backers. http://spectrum.ieee.org/tech-talk/computing/networks/bitcoin-gives-an-edge-to-amazon-competitors"Roger Ver, the founder of the site, launched it to serve as a high-level demonstration for companies like Amazon and NewEgg, a lesson in the benefits of Bitcoin. If any of these companies begin taking payments in Bitcoin, representatives at BitcoinStore say they will close shop in triumph." supplying 500,000+ items from Ingram Micro, which is a massive company and certainly good press for bitcoin http://www.bitcoinstore.com/
|
(1470) <KLYE> But I was far too drunk to fuck a midget (1470) <KLYE> I will fuck a chicken for 250 btc
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
March 07, 2013, 07:44:34 AM |
|
Yep, it is great - but I havent heard anything about volume yet. I think its still a question mark whether or not this site will take off or not.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
March 08, 2013, 09:19:59 PM |
|
|
Bro, do you even blockchain? -E Voorhees
|
|
|
sunnankar
Legendary
Offline
Activity: 1031
Merit: 1000
|
|
March 09, 2013, 04:43:15 PM |
|
Namecheap
I thought about it - but meh. I had never heard of them before the announcement. Meh? You should go look them up. You won't be meh'ing afterwards. "They claim to have over 3 million domain names under management." Cool. Is that bigger than godaddy et. al? I'm not doubting its big, but want to reserve the updates in this list for only the most significant impacts on the market (of which there are already plenty lately). Keep in mind that domain registration is extremely competitive and commoditized. Godaddy has greatly angered the Internet by (1) supporting SOPA/PIPA and (2) having a really painful checkout process. Many domainers have accounts at all the major registrars but keep most of their domains at Godaddy because they are slightly cheaper and have extremely attractive women in their advertisements. Namecheap offered discount codes to everyone who transferred domains from Godaddy during the SOPA/PIPA mess. Although many domainers hate Godaddy and ideologically support Namecheap's SOPA/PIPA/EFF stand they still did not move merely because of being lazy and the inconvenience. Namecheap understands this and is why they emailed their entire customer list to inform them about Bitcoin and Namecheap has now featured Bitcoin promimently on their homepage. Also, notice the EFF notice; in effect pleading to the domainers and not just completely freeride on Internet freedom to save a few cents per year by going with Godaddy. It is clear that Namecheap is attempting to distinguish itself in this commoditized space by being the safe and Internet freedom oriented domain registrar. But now with Bitcoin I know many that are starting the long-needed migration. It will be interesting to see how well Namecheap's gambit plays out. For example, I have a lazy friend who is in the process of moving 20,000 domains from GoDaddy to Namecheap. That is about $200,000 per year in gross fees.
|
|
|
|
Zangelbert Bingledack
Legendary
Offline
Activity: 1036
Merit: 1000
|
|
March 09, 2013, 05:46:24 PM |
|
I sure hope that friend is paying in BTC!
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
March 12, 2013, 12:41:38 PM |
|
|
Bro, do you even blockchain? -E Voorhees
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
March 20, 2013, 07:52:52 AM |
|
p.s. if you find this helpful - please ask a mod for it to be stickied.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
|
aurora
|
|
March 24, 2013, 01:21:29 PM |
|
"IF THE MARKET MANIPULATOR WANTS TO DISTRIBUTE (DUMP) HIS SHARES, HE WILL START A GOOD NEWS PROMOTIONAL CAMPAIGN."
Is this why this thread was started?
|
Dym.gameDouble your money. Use Martingale/anti strategies. 1 to 1 odds
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
March 24, 2013, 04:02:08 PM |
|
"IF THE MARKET MANIPULATOR WANTS TO DISTRIBUTE (DUMP) HIS SHARES, HE WILL START A GOOD NEWS PROMOTIONAL CAMPAIGN."
Is this why this thread was started?
I don't think so. Also: Bitcoin is not a stock.
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
March 24, 2013, 04:12:17 PM Last edit: March 24, 2013, 04:44:35 PM by lebing |
|
"IF THE MARKET MANIPULATOR WANTS TO DISTRIBUTE (DUMP) HIS SHARES, HE WILL START A GOOD NEWS PROMOTIONAL CAMPAIGN."
Is this why this thread was started?
Perhaps you are new to the thread, but when the fork issue occured I updated the thread with the information from it immediately (and subsequently updated it again once it was fixed). Also, if you have any fundamentally bad news, I'm all eyes. I will certainly add it to the main page if its warranted.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
intel-core-i7
Member
Offline
Activity: 86
Merit: 10
|
|
March 27, 2013, 10:48:01 AM |
|
|
If you like what I do - donate : 1MWoRs6wKyJLLYm7gjrWeTcipCrCTneCRE | torchat: g7hzmvlpjygbiage
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
March 29, 2013, 10:19:55 PM |
|
|
Bro, do you even blockchain? -E Voorhees
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
April 02, 2013, 09:03:19 AM |
|
|
Bro, do you even blockchain? -E Voorhees
|
|
|
Zangelbert Bingledack
Legendary
Offline
Activity: 1036
Merit: 1000
|
|
April 02, 2013, 09:50:19 AM |
|
April Fool's
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
April 02, 2013, 10:07:12 AM |
|
April Fool's Yeah I thought that too, but it looks legit...
|
Bro, do you even blockchain? -E Voorhees
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
April 02, 2013, 10:42:12 AM |
|
April Fool's Yeah I thought that too, but it looks legit... Eh we both failed, its not working with them, its mimicking the system (yeah good luck western union).
|
Bro, do you even blockchain? -E Voorhees
|
|
|
oakpacific
|
|
April 02, 2013, 10:44:57 AM |
|
April Fool's Yeah I thought that too, but it looks legit... Eh we both failed, its not working with them, its mimicking the system (yeah good luck western union). I hope they realize how stupid it would be trying to reinvent the wheel, in a half-ass way. Creating their own digital currency is only going to cost them rather than making them money, if they can try to build a system upon Bitcoin then it's going to be a win-win situation.
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
April 02, 2013, 11:12:54 AM Last edit: April 02, 2013, 11:56:33 AM by lebing |
|
April Fool's Yeah I thought that too, but it looks legit... Eh we both failed, its not working with them, its mimicking the system (yeah good luck western union). I hope they realize how stupid it would be trying to reinvent the wheel, in a half-ass way. Creating their own digital currency is only going to cost them rather than making them money, if they can try to build a system upon Bitcoin then it's going to be a win-win situation. Ok, i've re-read it again about 5 times now and I don't see clearly one way or the other what their relationship might be with bitcoin. For now I'll just leave it out until we get another confirmation. And yeah I agree. If they are going to try and compete, their lunch is going to get eaten even faster. It would be a brilliant move by them to integrate their services with bitcoin however, it would at the very least provide them another 5-10 years to try and come up with other ways to provide value.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
Zangelbert Bingledack
Legendary
Offline
Activity: 1036
Merit: 1000
|
|
April 02, 2013, 11:21:57 AM |
|
It doesn't matter so much if they actually do implement it. If the article is legit, this is tremendously stupendously huge news.
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
April 02, 2013, 03:15:58 PM |
|
Ok, just got confirmation from multiple sources via email and twitter. They are looking to develop partnerships, so its a go. I'll update the thread again
|
Bro, do you even blockchain? -E Voorhees
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
April 02, 2013, 04:42:02 PM |
|
Ok, just got confirmation from multiple sources via email and twitter. They are looking to develop partnerships, so its a go. I'll update the thread again Depending on the details this could be mind-bogglingly huge.
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
Zangelbert Bingledack
Legendary
Offline
Activity: 1036
Merit: 1000
|
|
April 02, 2013, 05:36:27 PM |
|
Perhaps the right people should be informed (Tony Galippi, ??), so that WU is professionally presented with workable use cases that they can see will increase profits, before they find anything that might scare them away or get any bright ideas about making their own WUcoins, though surely they will be soon.
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
April 02, 2013, 05:50:46 PM |
|
Ok, just got confirmation from multiple sources via email and twitter. They are looking to develop partnerships, so its a go. I'll update the thread again Depending on the details this could be mind-bogglingly huge. Yeah, I'm sure it comes from the fact that so many people were using them to access bitinstant. They want to take that business and expand it, im sure.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
April 10, 2013, 10:06:13 AM |
|
Updated with: Hedge fund looking to inject 1 billion € into bitcoin for large investors https://exante.eu/press/news/266/TLDR Big €€€ starting to move into Bitcoin
|
Bro, do you even blockchain? -E Voorhees
|
|
|
niko
|
|
April 11, 2013, 02:05:35 PM |
|
How about we change the rules so only actions that actually happened or are ongoing are considered fundamentals, instead of announcements about supposed future actions?
|
They're there, in their room. Your mining rig is on fire, yet you're very calm.
|
|
|
Zangelbert Bingledack
Legendary
Offline
Activity: 1036
Merit: 1000
|
|
April 11, 2013, 02:11:49 PM |
|
But, but, BitInstant Debit Card
|
|
|
|
donjoe
|
|
April 11, 2013, 02:26:42 PM |
|
Speaking of fundamentals, any idea why Google Trends is stuck showing Monday's search stats for "bitcoin" and hasn't moved on to show Tuesday as well?
|
|
|
|
420
|
|
April 17, 2013, 12:00:17 PM |
|
But, but, BitInstant Debit Card whens that happening?
|
Donations: 1JVhKjUKSjBd7fPXQJsBs5P3Yphk38AqPr - TIPS the hacks, the hacks, secure your bits!
|
|
|
arklan
Legendary
Offline
Activity: 1778
Merit: 1008
|
|
April 17, 2013, 12:13:09 PM |
|
But, but, BitInstant Debit Card whens that happening? exactly his point, 420. it was announced... what, back in september 2012? maybe october, and no sign yet.
|
i don't post much, but this space for rent.
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
April 17, 2013, 12:34:22 PM |
|
Speaking of fundamentals, any idea why Google Trends is stuck showing Monday's search stats for "bitcoin" and hasn't moved on to show Tuesday as well?
int64 overflow detection
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
Zangelbert Bingledack
Legendary
Offline
Activity: 1036
Merit: 1000
|
|
April 17, 2013, 03:20:04 PM |
|
- OK Cupid (7 million users) - MetArt and sister sites (top-tier porn purveyor in terms of quality) - A bunch of smaller stuff
|
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
April 17, 2013, 03:52:20 PM |
|
Updated with Okcupid, thanks for the reminder
|
Bro, do you even blockchain? -E Voorhees
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
April 24, 2013, 01:32:53 PM |
|
Not going to update the main post with this (yet), but the fact that paypal is considering Bitcoin as a funding option... http://www.bloomberg.com/video/paypal-sees-20-billion-in-mobile-transactions-WlokACTBRterdjHAJGNB6w.htmlThis underlines the rising tension between them and Western Union which is building. It might turn into a race which will which rapidly expand the infrastructure for bitcoin in a very short time period (and hence push the price to astronomical levels in an equally short time period).
|
Bro, do you even blockchain? -E Voorhees
|
|
|
samson
Legendary
Offline
Activity: 2097
Merit: 1068
|
|
April 24, 2013, 01:40:59 PM |
|
Interesting, he actually mentioned that they are considering it as a funding option. PayPal could jump onto the Bitcoin bandwagon and allow people an easy way to spend their hordes of BTC. This could be massive for both Bitcoin and Paypal. Bitcoin + Paypal could completely disrupt Visa and Mastercard in this way.
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
April 24, 2013, 01:46:00 PM |
|
Interesting, he actually mentioned that they are considering it as a funding option. PayPal could jump onto the Bitcoin bandwagon and allow people an easy way to spend their hordes of BTC. This could be massive for both Bitcoin and Paypal. Bitcoin + Paypal could completely disrupt Visa and Mastercard in this way. Yep, looks like western union and paypal are looking at this new technology as a potential ally - and viewing it as a race to see who can utilize it the most effectively. This is great news (unless you are a bear).
|
Bro, do you even blockchain? -E Voorhees
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
April 24, 2013, 02:04:56 PM |
|
Interesting, he actually mentioned that they are considering it as a funding option. PayPal could jump onto the Bitcoin bandwagon and allow people an easy way to spend their hordes of BTC. This could be massive for both Bitcoin and Paypal. Bitcoin + Paypal could completely disrupt Visa and Mastercard in this way. Yep, looks like western union and paypal are looking at this new technology as a potential ally - and viewing it as a race to see who can utilize it the most effectively. This is great news (unless you are a bear). This is truly astonishing. Part of me says: "hey, it was a mistake to consider WU and PayPal our enemies, they could be allies". Another part says: "watch out, this might be a trick of some sort".
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
samson
Legendary
Offline
Activity: 2097
Merit: 1068
|
|
April 24, 2013, 02:53:58 PM |
|
This is truly astonishing. Part of me says: "hey, it was a mistake to consider WU and PayPal our enemies, they could be allies". Another part says: "watch out, this might be a trick of some sort".
Big companies like to make lots of money and look for untapped revenue streams. Bitcoin is a massive untapped revenue stream. Who will open the floodgates first, that's the only question ?
|
|
|
|
agentbluescreen
Newbie
Offline
Activity: 56
Merit: 0
|
|
April 24, 2013, 05:45:40 PM |
|
Interesting, he actually mentioned that they are considering it as a funding option. PayPal could jump onto the Bitcoin bandwagon and allow people an easy way to spend their hordes of BTC. This could be massive for both Bitcoin and Paypal. Bitcoin + Paypal could completely disrupt Visa and Mastercard in this way. Well were going to have to find some sort of a use for it, because thus far as a "money", it's little more than a glorified "virtual toilet" who's sole "value" depends entirely upon how the last guy might leave the toilet seat, an hour from now.
|
|
|
|
phelix
Legendary
Offline
Activity: 1708
Merit: 1019
|
|
April 25, 2013, 07:34:05 AM |
|
@OP: Suggestion: Lock this thread besides you updating it. Make a single post about it each time so everybody is notified.
I like the idea and it should be separate from discussion. If you like make a separate fundamental analysis discussion thread and link to it from the original post.
People can still pm you with fundamental news. An alternative might be a self moderated thread so that you can delete all off topic posts.
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
April 25, 2013, 08:31:58 AM |
|
@OP: Suggestion: Lock this thread besides you updating it. Make a single post about it each time so everybody is notified.
I like the idea and it should be separate from discussion. If you like make a separate fundamental analysis discussion thread and link to it from the original post.
People can still pm you with fundamental news. An alternative might be a self moderated thread so that you can delete all off topic posts.
Thanks for the suggestion - for now I think it's working just fine. People rarely comment here anyway. I will create a new thread if at some point that changes however.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
|
michaelGedi
Sr. Member
Offline
Activity: 364
Merit: 250
"to be or not to be, that is the bitcoin"
|
|
May 16, 2013, 08:39:31 PM |
|
|
|
|
|
TsuyokuNaritai
|
|
May 25, 2013, 02:05:14 AM |
|
The OP has a strongly bullish bias. Is this intentional?
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
May 25, 2013, 07:37:33 AM |
|
The OP has a strongly bullish bias. Is this intentional?
As mentioned elsewhere in the thread I'm open to including all change which have the potential to fundamentally affect the price (I included the fork). If you have something you'd like to include, just post it here.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
TsuyokuNaritai
|
|
May 25, 2013, 11:35:01 AM |
|
It's not just the lack of bearish fundamentals, it's the very bullish spin on the fundamentals that are shown. Thing is, much as I approve of balanced evidence, I'm not sure I'd want you to change it because I'm a bull and your list is awesome. Maybe a bear could volunteer to do a bearish version, and this could be the Bull's fundamental analysis thread? It's much easier to get two opposing biased views to compare against each-other than one unbiased view.
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
May 25, 2013, 03:12:50 PM |
|
It's not just the lack of bearish fundamentals, it's the very bullish spin on the fundamentals that are shown. Thing is, much as I approve of balanced evidence, I'm not sure I'd want you to change it because I'm a bull and your list is awesome. Maybe a bear could volunteer to do a bearish version, and this could be the Bull's fundamental analysis thread? It's much easier to get two opposing biased views to compare against each-other than one unbiased view. To be honest I would love it if someone would put together a decent bearish fundamental list. Problem is that I've been trying for over a year now to see indicators which fundamentally point towards downwards price movement and almost without exception have failed.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
TsuyokuNaritai
|
|
May 25, 2013, 03:18:12 PM Last edit: May 25, 2013, 03:38:05 PM by TsuyokuNaritai |
|
|
|
|
|
|
Peter Lambert
|
|
May 26, 2013, 08:07:37 PM |
|
Bearish price indicator: (You may want to dig deeper to get actual statistical data)
As Ripple gains wider acceptance and usage, it will increase the M2 monetary base of bitcoins (that is, M1 is what is on the blockchain, M2 is M1 + all credit accounts denominated in bitcoins (Not sure if I am using the right M#s, somebody could check that?)), the rising money supply will decrease the price.
|
Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
May 27, 2013, 05:28:06 AM |
|
Bearish price indicator: (You may want to dig deeper to get actual statistical data)
As Ripple gains wider acceptance and usage, it will increase the M2 monetary base of bitcoins (that is, M1 is what is on the blockchain, M2 is M1 + all credit accounts denominated in bitcoins (Not sure if I am using the right M#s, somebody could check that?)), the rising money supply will decrease the price.
While in theory thats possible, I'm far from convinced that Ripple will be widely used.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
niko
|
|
May 27, 2013, 02:44:58 PM |
|
Bearish price indicator: (You may want to dig deeper to get actual statistical data)
As Ripple gains wider acceptance and usage, it will increase the M2 monetary base of bitcoins (that is, M1 is what is on the blockchain, M2 is M1 + all credit accounts denominated in bitcoins (Not sure if I am using the right M#s, somebody could check that?)), the rising money supply will decrease the price.
While in theory thats possible, I'm far from convinced that Ripple will be widely used. Whatever the case may be, this thread is about what is, not what might/could/should happen. I've been trying hard, but cannot come up with bearish facts. I see no reason for Bitcoin not to continue growing. It works, and it is (and could be) useful in many ways to many people. Most of them haven't even realized that yet.
|
They're there, in their room. Your mining rig is on fire, yet you're very calm.
|
|
|
ElectricMucus
Legendary
Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
|
|
May 27, 2013, 03:48:25 PM |
|
My top bearish contender is still BFL, they are the largest concentrated pile of incompetence and still kickin. People (and neither myself) don't pay any attention to them any more but they are continuing to piss people off.
|
|
|
|
And1
Member
Offline
Activity: 62
Merit: 10
|
|
May 28, 2013, 06:01:24 AM |
|
Why are you not placing bad news on the list? If price falls I'm looking for information why and nothing is on your list (it makes me suspicious that it's biased and not trustworthy because of that).
|
|
|
|
solex
Legendary
Offline
Activity: 1078
Merit: 1002
100 satoshis -> ISO code
|
|
May 28, 2013, 06:08:36 AM |
|
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
May 28, 2013, 07:41:30 AM |
|
Why are you not placing bad news on the list? If price falls I'm looking for information why and nothing is on your list (it makes me suspicious that it's biased and not trustworthy because of that).
Read the rest of the thread (jesus, just read this page) to understand why there isnt more bearish info there. If you are looking for info on why the fall happened yesterday, you just need to know that manipulators are going to manipulate (and sometimes get burned because they failed... like yesterday).
|
Bro, do you even blockchain? -E Voorhees
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
May 28, 2013, 07:44:06 AM |
|
One piece of data is cumulative, the other is recalculated daily. No surprise that the numbers of transactions fell after the crash of 2013. Expect them to bottom soon and flatline for a few months before heading back up.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
TsuyokuNaritai
|
|
May 28, 2013, 07:46:14 AM |
|
Wallet number of users isn't as bullish as it looks. If the there were no new wallets at all, the line would go flat, not down. The slope pointing up isn't bullish unless the slope angle is also increasing.
|
|
|
|
And1
Member
Offline
Activity: 62
Merit: 10
|
|
May 28, 2013, 11:06:24 AM |
|
Why are you not placing bad news on the list? If price falls I'm looking for information why and nothing is on your list (it makes me suspicious that it's biased and not trustworthy because of that).
Read the rest of the thread (jesus, just read this page) to understand why there isnt more bearish info there. If you are looking for info on why the fall happened yesterday, you just need to know that manipulators are going to manipulate (and sometimes get burned because they failed... like yesterday). I don't get it Why freezing mtgox bank account is less important than rumors that maybe some unknown hedge will give possibility to hold bitcoins. Or if there is good news about Coinlab deal why it is not followed by news that it didn't work out and there will be no Coinlab but lawsuit instead. At least be consequent. (I knew price was going to fall now, either in triangle or zigzag scenario, but it was quite fast, like some news showed up.)
|
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
May 28, 2013, 06:28:52 PM |
|
I make about 1 blockchain.info wallet every 4 or so weeks for various temporary purposes. Maybe I should change that practice. Does this count every wallet ever created or are there some criteria to be fulfilled? [/quote]
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
naima53
|
|
May 28, 2013, 06:42:44 PM |
|
Translate it, I'm too lazy (just lazy...)
|
Donate me) 16f6iWHHkVEnDReeBQPT9GwCNwUfPTXrp2
|
|
|
TraderTimm
Legendary
Offline
Activity: 2408
Merit: 1121
|
|
May 29, 2013, 02:49:27 AM |
|
Mr. Che, all pants pulled together, finally sobered up, have washed with cold water and soap, talcum fingers \ strewed palms, all rolled into a garbage background is the sound of flickering and swap out the ... In ALHALVU!! the moment came unexpectedly!!
In Hell adische, burn it with fire but stronger! Who will throw the first rock into the den? Pressing the loot from ASIC-builders and investors throughout the "third wave"? Whatever that means...
|
fortitudinem multis - catenum regit omnia
|
|
|
solex
Legendary
Offline
Activity: 1078
Merit: 1002
100 satoshis -> ISO code
|
|
May 29, 2013, 02:54:49 AM |
|
Mr. Che, all pants pulled together, finally sobered up, have washed with cold water and soap, talcum fingers \ strewed palms, all rolled into a garbage background is the sound of flickering and swap out the ... In ALHALVU!! the moment came unexpectedly!!
In Hell adische, burn it with fire but stronger! Who will throw the first rock into the den? Pressing the loot from ASIC-builders and investors throughout the "third wave"? Whatever that means... Yes. I got the same garbage. "Lost in Translation" has never been more true than with this one...
|
|
|
|
naima53
|
|
May 29, 2013, 05:42:58 PM |
|
Okay, I'll help you. The meaning is "to soberly assess the situation and expect a dramatic move bold major player - a bear. Who was the first to throw a stone into the den of the bear? Pressing the loot from ASIC-builders and investors throughout the "third wave" ? (the reallocation of funds). Remove coins from "third wave" investors. Coins have to go to speculators, big players in the market. Otherwise, the game does not have feelings. (meaning). The chain reaction of bankruptcies mining companies will benefit bears. Would also benefit the network, it will distribute power evenly hashes on the network, rigs will be sold for a penny, dumped on the market at bargain prices and are not in demand.
|
Donate me) 16f6iWHHkVEnDReeBQPT9GwCNwUfPTXrp2
|
|
|
michaelGedi
Sr. Member
Offline
Activity: 364
Merit: 250
"to be or not to be, that is the bitcoin"
|
|
May 29, 2013, 09:11:00 PM |
|
Okay, I'll help you. The meaning is "to soberly assess the situation and expect a dramatic move bold major player - a bear. Who was the first to throw a stone into the den of the bear? Pressing the loot from ASIC-builders and investors throughout the "third wave" ? (the reallocation of funds). Remove coins from "third wave" investors. Coins have to go to speculators, big players in the market. Otherwise, the game does not have feelings. (meaning). The chain reaction of bankruptcies mining companies will benefit bears. Would also benefit the network, it will distribute power evenly hashes on the network, rigs will be sold for a penny, dumped on the market at bargain prices and are not in demand. sounds pleasant... what has this got to do with fundamentals?
|
|
|
|
naima53
|
|
May 30, 2013, 06:23:28 PM |
|
Okay, I'll help you. The meaning is "to soberly assess the situation and expect a dramatic move bold major player - a bear. Who was the first to throw a stone into the den of the bear? Pressing the loot from ASIC-builders and investors throughout the "third wave" ? (the reallocation of funds). Remove coins from "third wave" investors. Coins have to go to speculators, big players in the market. Otherwise, the game does not have feelings. (meaning). The chain reaction of bankruptcies mining companies will benefit bears. Would also benefit the network, it will distribute power evenly hashes on the network, rigs will be sold for a penny, dumped on the market at bargain prices and are not in demand. sounds pleasant... what has this got to do with fundamentals? It is most relevant to fundamental analysis. That's the whole point of the system: the creators is assigned fiat currency in exchange for a promise of anonymity, independence from banks, lower commission payments, easy income from trade, from mining. This is a game with only one goal (a zero-sum game)
|
Donate me) 16f6iWHHkVEnDReeBQPT9GwCNwUfPTXrp2
|
|
|
johnyj
Legendary
Offline
Activity: 1988
Merit: 1012
Beyond Imagination
|
|
May 30, 2013, 06:40:29 PM |
|
For currency, supply and demand do not affect its value, it is mostly decided by the historical consensus
For bitcoin, there is a consensus of continuous appreciation due to limited supply, and that appreciation speed is largely related to the difficulty of the network
During 2012, most of the time the difficulty changed very slow, so does the exchange rate, but now when ASIC devices are being deployed, difficulty will rise at least 10-20 times, so does the exchange rate. I think current exchange rate already priced in the batch of ASIC chips that are going to hit the network during summer, unless there is a forecast of large increase of future difficulty, the exchange rate will be stable for a while
|
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
May 30, 2013, 10:10:14 PM |
|
For currency, supply and demand do not affect its value, it is mostly decided by the historical consensus
For bitcoin, there is a consensus of continuous appreciation due to limited supply, and that appreciation speed is largely related to the difficulty of the network
During 2012, most of the time the difficulty changed very slow, so does the exchange rate, but now when ASIC devices are being deployed, difficulty will rise at least 10-20 times, so does the exchange rate. I think current exchange rate already priced in the batch of ASIC chips that are going to hit the network during summer, unless there is a forecast of large increase of future difficulty, the exchange rate will be stable for a while
in case you're saying mining cost is the floor of bitcoin value you're making a bold claim. As bold as the claim of the goldbugs that golds inherent value stems from the energy that was used to mine it. At least logically that doesn't follow. The relationship between exchange rate and difficulty exists, but it's more complex than what you imply it to be.
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
notme
Legendary
Offline
Activity: 1904
Merit: 1002
|
|
May 31, 2013, 02:12:44 AM |
|
For currency, supply and demand do not affect its value, it is mostly decided by the historical consensus
For bitcoin, there is a consensus of continuous appreciation due to limited supply, and that appreciation speed is largely related to the difficulty of the network
During 2012, most of the time the difficulty changed very slow, so does the exchange rate, but now when ASIC devices are being deployed, difficulty will rise at least 10-20 times, so does the exchange rate. I think current exchange rate already priced in the batch of ASIC chips that are going to hit the network during summer, unless there is a forecast of large increase of future difficulty, the exchange rate will be stable for a while
in case you're saying mining cost is the floor of bitcoin value you're making a bold claim. As bold as the claim of the goldbugs that golds inherent value stems from the energy that was used to mine it. At least logically that doesn't follow. The relationship between exchange rate and difficulty exists, but it's more complex than what you imply it to be. Price (combined with the $/hash of current top of the line mining hardware) puts a floor on difficulty. That is the only relationship that is real.
|
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
May 31, 2013, 07:03:22 AM |
|
For currency, supply and demand do not affect its value, it is mostly decided by the historical consensus
For bitcoin, there is a consensus of continuous appreciation due to limited supply, and that appreciation speed is largely related to the difficulty of the network
During 2012, most of the time the difficulty changed very slow, so does the exchange rate, but now when ASIC devices are being deployed, difficulty will rise at least 10-20 times, so does the exchange rate. I think current exchange rate already priced in the batch of ASIC chips that are going to hit the network during summer, unless there is a forecast of large increase of future difficulty, the exchange rate will be stable for a while
in case you're saying mining cost is the floor of bitcoin value you're making a bold claim. As bold as the claim of the goldbugs that golds inherent value stems from the energy that was used to mine it. At least logically that doesn't follow. The relationship between exchange rate and difficulty exists, but it's more complex than what you imply it to be. Price (combined with the $/hash of current top of the line mining hardware) puts a floor on difficulty. That is the only relationship that is real. Yes, that's the stronges one. However there is a subtle one that does go the other way: A non-profitable miner might continue to mine and hold the coins, however irrational this may be. This puts (albeit slight) resistance to a falling price. I know, it's not a hard "difficulty is rising therefore price must rise" (a view I've been fighting for years now), but it's a real effect.
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
johnyj
Legendary
Offline
Activity: 1988
Merit: 1012
Beyond Imagination
|
|
May 31, 2013, 07:52:22 AM |
|
People who want to get coin have 2 choices, either mine or buy. When the difficulty is too high, they will buy, otherwise they will mine. If they mine they will increase the difficulty until a point that mining become unprofitable then they will buy again
Miners could still mine when not profitable, because they believe that price will rise in the future, but that just increase the difficulty for all the miners and eventually someone will just buy (If price will rise in the future anyway, buying now is the most simple decision)
|
|
|
|
Peter Lambert
|
|
May 31, 2013, 01:44:25 PM |
|
People who want to get coin have 2 choices, either mine or buy.
You forgot the other ways to get bitcoins: work for them or scam other people for them.
|
Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us
|
|
|
halfawake
|
|
June 05, 2013, 06:47:36 AM |
|
|
BTC: 13kJEpqhkW5MnQhWLvum7N5v8LbTAhzeWj
|
|
|
notme
Legendary
Offline
Activity: 1904
Merit: 1002
|
|
June 05, 2013, 07:48:53 AM |
|
Welcome to a month ago
|
|
|
|
halfawake
|
|
June 05, 2013, 08:04:48 AM |
|
Welcome to a month ago bears are getting desperate There's not much to eat in the hibernation den, so we've got to subsist on something these days.
|
BTC: 13kJEpqhkW5MnQhWLvum7N5v8LbTAhzeWj
|
|
|
Peter Lambert
|
|
June 05, 2013, 10:17:33 PM |
|
That seems like bullish news to me: any publicity is good publicity, and it is one step in getting rid of MtGox as the top exchange.
|
Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us
|
|
|
halfawake
|
|
June 05, 2013, 10:23:12 PM |
|
That seems like bullish news to me: any publicity is good publicity, and it is one step in getting rid of MtGox as the top exchange. It all depends on your time frame. Short term, getting rid of MtGox (or lessening their influence) would probably make the price of bitcoin plummet. Long term, if a better exchange rises to the top, it could become much more stable and better / more liquid.
|
BTC: 13kJEpqhkW5MnQhWLvum7N5v8LbTAhzeWj
|
|
|
notme
Legendary
Offline
Activity: 1904
Merit: 1002
|
|
June 06, 2013, 07:16:36 AM |
|
That seems like bullish news to me: any publicity is good publicity, and it is one step in getting rid of MtGox as the top exchange. It all depends on your time frame. Short term, getting rid of MtGox (or lessening their influence) would probably make the price of bitcoin plummet. Long term, if a better exchange rises to the top, it could become much more stable and better / more liquid. Their influence has already been dramatically lessened (just look at trade volume). Why aren't bitcoins cheap yet?
|
|
|
|
Zangelbert Bingledack
Legendary
Offline
Activity: 1036
Merit: 1000
|
|
June 06, 2013, 07:41:43 AM |
|
The price would only plummet if something happened to MtGox suddenly, either a complete shutdown or some kind of very damaging restriction or abrupt moves in that direction. Since the build up of pressure on MtGox has been gradual and on the fringes, and since for the most part there remains a clean line between the services that are getting shut down (noncompliant, questionable operations) and MtGox (about as compliant as they come, except for the US Dwolla incident, which so far seems contained).
The recent gradual shift away from MtGox as the central exchange is just what the doctor ordered and paves the way for further price gains. This is also a textbook example of anti-fragility, with Bitcoin (the Bitcoin ecosystem/community) immediately starting to repair its own most exposed weak point as soon as it was identified.
|
|
|
|
Peter Lambert
|
|
June 07, 2013, 03:38:49 AM |
|
That seems like bullish news to me: any publicity is good publicity, and it is one step in getting rid of MtGox as the top exchange. It all depends on your time frame. Short term, getting rid of MtGox (or lessening their influence) would probably make the price of bitcoin plummet. Long term, if a better exchange rises to the top, it could become much more stable and better / more liquid. Their influence has already been dramatically lessened (just look at trade volume). Why aren't bitcoins cheap yet? Bitcoins are cheap! Snatch them now before the rest of the world realizes they want them and the price dectuples a couple more times (My 7 year old daughter was asking the other day "so you have double for two, and triple for three, so what do you say if you have four times?" So I have been looking for places to use words like quadruple and quintuple and dectuple )
|
Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us
|
|
|
arklan
Legendary
Offline
Activity: 1778
Merit: 1008
|
|
June 07, 2013, 10:34:05 AM |
|
we've seen quite a few dectuples already
Many in the last wave of bitcoiners allowed jealousy to blind them and do not see the fact that they are effectively in the same position as the early adopters were in.
i still think that anyone getting in now IS an early adopter...
|
i don't post much, but this space for rent.
|
|
|
niko
|
|
June 08, 2013, 06:31:56 PM |
|
we've seen quite a few dectuples already
Many in the last wave of bitcoiners allowed jealousy to blind them and do not see the fact that they are effectively in the same position as the early adopters were in.
i still think that anyone getting in now IS an early adopter... True, but sad. It shows that not much has happened since ~2010 to realize the potential of this new technology. Once this thread has been updated (if at all) with a wave of major merchants accepting BTC, and things like bitcoin card actually in people's hands - it will be too late to be an early adopter.
|
They're there, in their room. Your mining rig is on fire, yet you're very calm.
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
June 08, 2013, 10:35:21 PM |
|
we've seen quite a few dectuples already
Many in the last wave of bitcoiners allowed jealousy to blind them and do not see the fact that they are effectively in the same position as the early adopters were in.
I sense an evil grin.
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
Peter Lambert
|
|
June 09, 2013, 04:31:12 AM |
|
we've seen quite a few dectuples already
Many in the last wave of bitcoiners allowed jealousy to blind them and do not see the fact that they are effectively in the same position as the early adopters were in.
i still think that anyone getting in now IS an early adopter... True, but sad. It shows that not much has happened since ~2010 to realize the potential of this new technology. Once this thread has been updated (if at all) with a wave of major merchants accepting BTC, and things like bitcoin card actually in people's hands - it will be too late to be an early adopter. I would not say nothing has happened since 2010. There seems to be much better infrastructure around bitcoins now than when I started using it in 2011, they are more useful and easier to use now.
|
Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us
|
|
|
niko
|
|
June 09, 2013, 12:21:07 PM |
|
we've seen quite a few dectuples already
Many in the last wave of bitcoiners allowed jealousy to blind them and do not see the fact that they are effectively in the same position as the early adopters were in.
i still think that anyone getting in now IS an early adopter... True, but sad. It shows that not much has happened since ~2010 to realize the potential of this new technology. Once this thread has been updated (if at all) with a wave of major merchants accepting BTC, and things like bitcoin card actually in people's hands - it will be too late to be an early adopter. I would not say nothing has happened since 2010. There seems to be much better infrastructure around bitcoins now than when I started using it in 2011, they are more useful and easier to use now. I agree, that is why I said "not much" - exchanges and merchants come, but most of them go away. Some stay. BitPay is certainly doing a great service to us all, and earning a buck along the way. Great. Paysius and other competitors appear dormant. Not good. Few donation-accepting entities have done quite well. There are more open-source clients to choose from now than in ~2010. Great. But there have been no breakthroughs, just many small steps. Are we going to outpace the inevitable disasters, by growing strong and diverse enough so they don't do much damage? Right now, politics of development are one such potential disaster, with lots of ugly and boneheaded disagreements regarding block size, for example. I'd say we've been moving too slowly, with lots of amateurish and naive mistakes and empty promises. In this technological era, four years is a long time. It's time to grow up.
|
They're there, in their room. Your mining rig is on fire, yet you're very calm.
|
|
|
|
halfawake
|
|
June 28, 2013, 07:01:13 AM |
|
we've seen quite a few dectuples already
Many in the last wave of bitcoiners allowed jealousy to blind them and do not see the fact that they are effectively in the same position as the early adopters were in.
i still think that anyone getting in now IS an early adopter... True, but sad. It shows that not much has happened since ~2010 to realize the potential of this new technology. Once this thread has been updated (if at all) with a wave of major merchants accepting BTC, and things like bitcoin card actually in people's hands - it will be too late to be an early adopter. I would not say nothing has happened since 2010. There seems to be much better infrastructure around bitcoins now than when I started using it in 2011, they are more useful and easier to use now. I agree, that is why I said "not much" - exchanges and merchants come, but most of them go away. Some stay. BitPay is certainly doing a great service to us all, and earning a buck along the way. Great. Paysius and other competitors appear dormant. Not good. Few donation-accepting entities have done quite well. There are more open-source clients to choose from now than in ~2010. Great. But there have been no breakthroughs, just many small steps. Are we going to outpace the inevitable disasters, by growing strong and diverse enough so they don't do much damage? Right now, politics of development are one such potential disaster, with lots of ugly and boneheaded disagreements regarding block size, for example. I'd say we've been moving too slowly, with lots of amateurish and naive mistakes and empty promises. In this technological era, four years is a long time. It's time to grow up. It may seem slow now looking forward, but I'd say going from a brand new currency four years ago to a $1.1 billion dollar market today is pretty damn impressive. Yes, some bitcoin businesses are succeeding, others are failing. That's totally normal. Remember that something like 90% of businesses that are started fail, so this isn't any different than any different market.
|
BTC: 13kJEpqhkW5MnQhWLvum7N5v8LbTAhzeWj
|
|
|
vokain
Legendary
Offline
Activity: 1834
Merit: 1019
|
|
June 28, 2013, 07:09:56 AM |
|
It may seem slow now looking forward, but I'd say going from a brand new currency four years ago to a $1.1 billion dollar market today is pretty damn impressive. Yes, some bitcoin businesses are succeeding, others are failing. That's totally normal. Remember that something like 90% of businesses that are started fail, so this isn't any different than any different market.
Sort of irrelevant from your point, but from my entrepreneurship class the idea that an overwhelming majority of new business fail is actually a myth It is true that many entrepreneurs suffer a number of failures before they are successful. They follow the adage "If at first you don't succeed, try, try, again." In fact, failure can teach many lessons to those willing to learn and often leads to future successes. This is clearly shown by the corridor principle, which states that with every venture launched, new and unintended opportunities often arise. The 3M Corporation invented Post-it notes using a glue that had not been strong enough for its intended use. Rather than throw away the glue, the company focused on finding another use for it and, in the process, developed a multimillion-dollar product. Yet, the statistics of entrepreneurial failure rates have been misleading over the years. In fact, one researcher, Bruce A. Kirchoff, has reported that the "high failure rate" most commonly accepted may be misleading. Tracing 814,000 businesses started in 1977, Kirchoff found that more than 50 percent were still surviving under their original owners or new owners. Additionally, 28 percent voluntarily closed down, and only 18 percent actually "failed" in the sense of leaving behind outstanding liabilities. 12
|
|
|
|
prophetx
Legendary
Offline
Activity: 1666
Merit: 1010
he who has the gold makes the rules
|
|
June 28, 2013, 08:01:45 AM |
|
It may seem slow now looking forward, but I'd say going from a brand new currency four years ago to a $1.1 billion dollar market today is pretty damn impressive. Yes, some bitcoin businesses are succeeding, others are failing. That's totally normal. Remember that something like 90% of businesses that are started fail, so this isn't any different than any different market.
Sort of irrelevant from your point, but from my entrepreneurship class the idea that an overwhelming majority of new business fail is actually a myth It is true that many entrepreneurs suffer a number of failures before they are successful. They follow the adage "If at first you don't succeed, try, try, again." In fact, failure can teach many lessons to those willing to learn and often leads to future successes. This is clearly shown by the corridor principle, which states that with every venture launched, new and unintended opportunities often arise. The 3M Corporation invented Post-it notes using a glue that had not been strong enough for its intended use. Rather than throw away the glue, the company focused on finding another use for it and, in the process, developed a multimillion-dollar product. Yet, the statistics of entrepreneurial failure rates have been misleading over the years. In fact, one researcher, Bruce A. Kirchoff, has reported that the "high failure rate" most commonly accepted may be misleading. Tracing 814,000 businesses started in 1977, Kirchoff found that more than 50 percent were still surviving under their original owners or new owners. Additionally, 28 percent voluntarily closed down, and only 18 percent actually "failed" in the sense of leaving behind outstanding liabilities. 12
It all depends on time frame, eventually all businesses "fail"...
|
|
|
|
halfawake
|
|
June 29, 2013, 05:47:34 AM |
|
It may seem slow now looking forward, but I'd say going from a brand new currency four years ago to a $1.1 billion dollar market today is pretty damn impressive. Yes, some bitcoin businesses are succeeding, others are failing. That's totally normal. Remember that something like 90% of businesses that are started fail, so this isn't any different than any different market.
Sort of irrelevant from your point, but from my entrepreneurship class the idea that an overwhelming majority of new business fail is actually a myth It is true that many entrepreneurs suffer a number of failures before they are successful. They follow the adage "If at first you don't succeed, try, try, again." In fact, failure can teach many lessons to those willing to learn and often leads to future successes. This is clearly shown by the corridor principle, which states that with every venture launched, new and unintended opportunities often arise. The 3M Corporation invented Post-it notes using a glue that had not been strong enough for its intended use. Rather than throw away the glue, the company focused on finding another use for it and, in the process, developed a multimillion-dollar product. Yet, the statistics of entrepreneurial failure rates have been misleading over the years. In fact, one researcher, Bruce A. Kirchoff, has reported that the "high failure rate" most commonly accepted may be misleading. Tracing 814,000 businesses started in 1977, Kirchoff found that more than 50 percent were still surviving under their original owners or new owners. Additionally, 28 percent voluntarily closed down, and only 18 percent actually "failed" in the sense of leaving behind outstanding liabilities. 12
Interesting, thanks for correcting my misconception. I'm curious about this now. Some cursory googling shows mixed results, a few sites back up what I thought, while a few agree with what you said about most succeeding.
|
BTC: 13kJEpqhkW5MnQhWLvum7N5v8LbTAhzeWj
|
|
|
Zangelbert Bingledack
Legendary
Offline
Activity: 1036
Merit: 1000
|
|
June 29, 2013, 06:43:27 AM |
|
I thought the statistic was that 9 out of 10 first businesses fail. Entrepreneurs' second and third businesses seem to do a lot better, maybe because the first failure disabused them of their initial naïve notions.
|
|
|
|
vokain
Legendary
Offline
Activity: 1834
Merit: 1019
|
|
June 29, 2013, 06:57:41 AM |
|
Either way, it's a hard statistic to perfectly quantify. I think we can agree on that
|
|
|
|
niko
|
|
June 29, 2013, 10:52:35 AM |
|
Staffing site "Outbounders" adds Bitcoin option: " International payments are a problem when it comes to small transactions. First banks like Paypal take their cut of 3%. Then when we convert USD to other currencies we take another 2% - 3% hit. And sometimes they also incur a fee on their side to withdraw it. By accepting Bitcoin and paying in Bitcoin we can make much smaller payments, more frequently and save on the transaction fees on all sides. In the near future this will enable us to pay out staff on a DAILY basis, which of course staff will love; this is unheard of right now." Says Outbounders.com CEO, James Stinson.
http://www.finextra.com/News/Announcement.aspx?pressreleaseid=50521&topic=retail
|
They're there, in their room. Your mining rig is on fire, yet you're very calm.
|
|
|
monkeybars
|
|
June 29, 2013, 04:37:52 PM |
|
Wishful thinking on the gov't's part, that anyone would declare such sales in under a year . . .
|
|
|
|
BitChick
Legendary
Offline
Activity: 1148
Merit: 1001
|
|
June 29, 2013, 05:14:24 PM |
|
Staffing site "Outbounders" adds Bitcoin option: " International payments are a problem when it comes to small transactions. First banks like Paypal take their cut of 3%. Then when we convert USD to other currencies we take another 2% - 3% hit. And sometimes they also incur a fee on their side to withdraw it. By accepting Bitcoin and paying in Bitcoin we can make much smaller payments, more frequently and save on the transaction fees on all sides. In the near future this will enable us to pay out staff on a DAILY basis, which of course staff will love; this is unheard of right now." Says Outbounders.com CEO, James Stinson.
http://www.finextra.com/News/Announcement.aspx?pressreleaseid=50521&topic=retailThis is great. I did not see this in the press release forum. I am going to add it there if you don't mind.
|
1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
|
|
|
vokain
Legendary
Offline
Activity: 1834
Merit: 1019
|
|
June 29, 2013, 05:32:11 PM |
|
figured I'd repost here for relevance Well said. Perhaps Bitcoin holders will see free zones spring up that encourage crypto use and effect better exchange value.
http://www.nhforliberty.com/ron-helwig-discusses-shire-silver-and-bitcoin-at-2013-nh-liberty-forum/This guy, Ron Helwig, really gets it. I'm glad he's a part of the Free State Project, something I am seriously considering in the future, maybe even as just as a first home. "And of course, we do accept bitcoins for the Shire Silver, and we've gotten several orders for that. So people who are a little unsure about bitcoins can easily convert them to sound money by buying some Shire Silver!"
"So how do you answer the question that Bitcoin is sound money?"
"Actually, if you think about it, it probably is, to extent that, getting into the whole semantic argument, 'let's be a pure Austrian', all that stuff. Bitcoin either proves via Mises's regression theorem by having an actual value in its utility as a means of exchange, or it disproves Mises' theorem, in which case, is to me, a moot point. But the fact that it's mathematically limited to the 21 million bitcoins, means its essentially sound by mathematics, as opposed to silver and gold, it's sound by physics. Physics limits the amount of gold and silver available, mathematics limits the amount of bitcoins available."
|
|
|
|
niko
|
|
June 30, 2013, 03:23:38 PM |
|
Wishful thinking on the gov't's part, that anyone would declare such sales in under a year . . . Making false statements that involve Bitcoin is rather tricky due to the public ledger. It won't be long before your Revenue Agency learns this, and from that point on your strategy will depend on luck, unless you exchange for cash or spend coins directly. Even then you need to count on your trading partner not reporting the transaction. There is one sticking point, though: bitcoins are fungible. Thus, you could always claim to have sold at least some of the "old" coins, as long as you've been trading for over a year.
|
They're there, in their room. Your mining rig is on fire, yet you're very calm.
|
|
|
vokain
Legendary
Offline
Activity: 1834
Merit: 1019
|
|
June 30, 2013, 03:49:46 PM |
|
There is one sticking point, though: bitcoins are fungible. Thus, you could always claim to have sold at least some of the "old" coins, as long as you've been trading for over a year.
^ exactly
|
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
June 30, 2013, 05:42:19 PM |
|
Wishful thinking on the gov't's part, that anyone would declare such sales in under a year . . . Making false statements that involve Bitcoin is rather tricky due to the public ledger. It won't be long before your Revenue Agency learns this, and from that point on your strategy will depend on luck, unless you exchange for cash or spend coins directly. Even then you need to count on your trading partner not reporting the transaction. There is one sticking point, though: bitcoins are fungible. Thus, you could always claim to have sold at least some of the "old" coins, as long as you've been trading for over a year. this has been discussed at length in the german forums. It seems we have to do fifo accounting (first in first out). You always sell the oldest coins. You can't choose which coins you sell when you make a sell on some exchange. You always sell the coins you bought earliest (and calculate your gain from the price difference), even if the coins are in a paper wallet. This is a huge probelm for daytraders who have trading volume per year greater than their overall holdings. In other words: it seems you can't put some of the bitcoins into a safe and trade with the rest on an exchange, then later (after 1 year in the safe) sell those bitcoins from the safe with no tax.
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
niko
|
|
June 30, 2013, 06:30:37 PM |
|
Wishful thinking on the gov't's part, that anyone would declare such sales in under a year . . . Making false statements that involve Bitcoin is rather tricky due to the public ledger. It won't be long before your Revenue Agency learns this, and from that point on your strategy will depend on luck, unless you exchange for cash or spend coins directly. Even then you need to count on your trading partner not reporting the transaction. There is one sticking point, though: bitcoins are fungible. Thus, you could always claim to have sold at least some of the "old" coins, as long as you've been trading for over a year. this has been discussed at length in the german forums. It seems we have to do fifo accounting (first in first out). You always sell the oldest coins. You can't choose which coins you sell when you make a sell on some exchange. You always sell the coins you bought earliest (and calculate your gain from the price difference), even if the coins are in a paper wallet. This is a huge probelm for daytraders who have trading volume per year greater than their overall holdings. In other words: it seems you can't put some of the bitcoins into a safe and trade with the rest on an exchange, then later (after 1 year in the safe) sell those bitcoins from the safe with no tax. Thank you for mentioning this.
|
They're there, in their room. Your mining rig is on fire, yet you're very calm.
|
|
|
Peter Lambert
|
|
June 30, 2013, 11:41:46 PM |
|
Wishful thinking on the gov't's part, that anyone would declare such sales in under a year . . . Making false statements that involve Bitcoin is rather tricky due to the public ledger. It won't be long before your Revenue Agency learns this, and from that point on your strategy will depend on luck, unless you exchange for cash or spend coins directly. Even then you need to count on your trading partner not reporting the transaction. There is one sticking point, though: bitcoins are fungible. Thus, you could always claim to have sold at least some of the "old" coins, as long as you've been trading for over a year. But if you buy and sell on an exchange, then those coins are not in the public ledger, they are just on the internal database of the exchange. And if you do some bitcoin mixing between exchanges, then it could be rather tricky for the government to pin down what you did and whether it is different than you claim.
|
Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
July 04, 2013, 08:13:23 PM |
|
Updated with: Bitcoin finally coming to Africa to compete with M-Pesa http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/TLDR A SMS/ web hybrid system is being developed now which will reach the place where bitcoin has the most potential for organic growth. Info on M-Pesa: M-PESA now Contributes 18% of Safaricom’s total revenue. M-PESA revenue grew by 29.5% to 21.84 billion. M-PESA now has 10.5 million active users. There are 65,547 M-PESA agents. 26,000 M-PESA agents were added in the last financial year. Kshs 522bn was transacted between customers within M-PESA. Kshs 444bn was deposited into M-PESA via agents. Kshs 390bn was withdrawn from M-PESA via agent. 32% of airtime top-ups were done directly through M-PESA.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
BitChick
Legendary
Offline
Activity: 1148
Merit: 1001
|
|
July 04, 2013, 08:36:13 PM |
|
Updated with: Bitcoin finally coming to Africa to compete with M-Pesa http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/TLDR A SMS/ web hybrid system is being developed now which will reach the place where bitcoin has the most potential for organic growth. Info on M-Pesa: M-PESA now Contributes 18% of Safaricom’s total revenue. M-PESA revenue grew by 29.5% to 21.84 billion. M-PESA now has 10.5 million active users. There are 65,547 M-PESA agents. 26,000 M-PESA agents were added in the last financial year. Kshs 522bn was transacted between customers within M-PESA. Kshs 444bn was deposited into M-PESA via agents. Kshs 390bn was withdrawn from M-PESA via agent. 32% of airtime top-ups were done directly through M-PESA. On the Reddit link: There is some knowledge of it amongst more educated people. But ordinary people I explain it to instinctively understand the concept and benefits, without questioning the technical aspects too much.
But no doubt our primary job is one of education in the beginning.
I think once people can start using it, even if they don't fully understand why or how it works, they will see the benefit of it. I suppose it does not really matter if they understand why it is a safe and effective tool. For that matter, how many of us have been using our countries fiat and not really understanding how that money is created and/or manipulated? This is really great news for BTC and Africa.
|
1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
|
|
|
BitChick
Legendary
Offline
Activity: 1148
Merit: 1001
|
|
July 04, 2013, 08:40:24 PM |
|
Also on the reddit post: We are currently actively blocking both US IP addresses and Phone numbers from the wallet.
We may support US in the future but we don't want to risk our target audience by exposing ourselves to regulatory action by either the US or individual states.
Gotta love how the US will be left in the dust. Why? "Regulatory action." Sigh. Sometimes is sucks to be an American.
|
1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
|
|
|
xxjs
|
|
July 06, 2013, 10:32:42 AM |
|
... Kshs 444bn was deposited into M-PESA via agents. Kshs 390bn was withdrawn from M-PESA via agent. ..
Difference is 54 billion (something). I guess this consists of expansion of money supply and fees. This is the reason why god, king, nations, big companies and just about everyone else wants to start their own regulated money system.
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
August 07, 2013, 05:27:48 PM |
|
Updated with: Bitpay partners with 3dcart http://btcbible.com/bitpay-partners-with-3dcart/TLDR Bitcoin now available as a payment option to 16,000 new merchants
|
Bro, do you even blockchain? -E Voorhees
|
|
|
niko
|
|
August 07, 2013, 07:50:20 PM |
|
http://www.courthousenews.com/2013/08/06/Bitcoin.pdfUS federal court rules that bitcoins are money. As much as this sounds self-evident and trivial to us here, it sets an important precedent. The ramifications are many, some good and some bad for some of us. Personally, I am happy to see this.
|
They're there, in their room. Your mining rig is on fire, yet you're very calm.
|
|
|
vokain
Legendary
Offline
Activity: 1834
Merit: 1019
|
|
August 07, 2013, 08:39:42 PM |
|
http://www.courthousenews.com/2013/08/06/Bitcoin.pdfUS federal court rules that bitcoins are money. As much as this sounds self-evident and trivial to us here, it sets an important precedent. The ramifications are many, some good and some bad for some of us. Personally, I am happy to see this. first link reads the same as all those news reporting Thailand banning bitcoin drama. if you read carefully forbe's artile, you will see that court decided against Shaver's claims that BTCST did not operate in investment securities and did not fall under SEC jurisdiction, which court decided against. The Judge simply recognized Bitcoin being as a form of money which can be used in investment securities, exchanged for traditional currencies and to buy goods and services with it. There were no official ruling on whether Bitcoin is legally defined as a currency or not.in other thread you mentioned Liberty Dollars and that there is a bunch of laws designed specifically for currencies inclining that bitcoiners may be in trouble with this 'precedent' for making their own money. Firstly you dismiss the fact that US does not prohibit private currencies, there are few that exists and function today in the US. Secondly bitcoin does not try to compete with and look closely resembling with legal tender for which LD got in trouble; there are no single entity issuing Bitcoins and no single miner has control over bitcoin's production mechanism and clearly do not fall under any currency counterfeiting laws that protect USD.
|
|
|
|
niko
|
|
August 08, 2013, 02:30:11 AM |
|
http://www.courthousenews.com/2013/08/06/Bitcoin.pdfUS federal court rules that bitcoins are money. As much as this sounds self-evident and trivial to us here, it sets an important precedent. The ramifications are many, some good and some bad for some of us. Personally, I am happy to see this. first link reads the same as all those news reporting Thailand banning bitcoin drama. if you read carefully forbe's artile, you will see that court decided against Shaver's claims that BTCST did not operate in investment securities and did not fall under SEC jurisdiction, which court decided against. The Judge simply recognized Bitcoin being as a form of money which can be used in investment securities, exchanged for traditional currencies and to buy goods and services with it. There were no official ruling on whether Bitcoin is legally defined as a currency or not.in other thread you mentioned Liberty Dollars and that there is a bunch of laws designed specifically for currencies inclining that bitcoiners may be in trouble with this 'precedent' for making their own money. Firstly you dismiss the fact that US does not prohibit private currencies, there are few that exists and function today in the US. Secondly bitcoin does not try to compete with and look closely resembling with legal tender for which LD got in trouble; there are no single entity issuing Bitcoins and no single miner has control over bitcoin's production mechanism and clearly do not fall under any currency counterfeiting laws that protect USD. I fail to see the connection between the two quotes you posted. The judge did rule that bitcoins are money, as explicitly written in the pdf I linked to. Perhaps you could clarify your point in this discusion? Thanks.
|
They're there, in their room. Your mining rig is on fire, yet you're very calm.
|
|
|
vokain
Legendary
Offline
Activity: 1834
Merit: 1019
|
|
August 08, 2013, 02:45:51 AM |
|
Him recognizing that bitcoin was a form of money just means that in that specific case. It's no different than how bitcoins were viewed before and doesn't really change anything on a monumental level. FinCEN still only has jurisdiction over the AML part of bitcoins, and the CFTC still doesn't have jurisdiction over its exchange.
|
|
|
|
arklan
Legendary
Offline
Activity: 1778
Merit: 1008
|
|
August 08, 2013, 02:59:31 AM |
|
Him recognizing that bitcoin was a form of money just means that in that specific case. It's no different than how bitcoins were viewed before and doesn't really change anything on a monumental level. FinCEN still only has jurisdiction over the AML part of bitcoins, and the CFTC still doesn't have jurisdiction over its exchange.
One word: precedence.
|
i don't post much, but this space for rent.
|
|
|
niko
|
|
August 08, 2013, 03:05:48 AM |
|
Him recognizing that bitcoin was a form of money just means that in that specific case. It's no different than how bitcoins were viewed before and doesn't really change anything on a monumental level. FinCEN still only has jurisdiction over the AML part of bitcoins, and the CFTC still doesn't have jurisdiction over its exchange.
Can't look up the links atm, but in at least one north-European country bitcoins were ruled a commodity, implying VAT or sales tax on all transactions. I would not dismiss the US ruling as insignificant. For example, cases of theft now have an important precedent set.
|
They're there, in their room. Your mining rig is on fire, yet you're very calm.
|
|
|
vokain
Legendary
Offline
Activity: 1834
Merit: 1019
|
|
August 08, 2013, 03:41:11 AM |
|
Him recognizing that bitcoin was a form of money just means that in that specific case. It's no different than how bitcoins were viewed before and doesn't really change anything on a monumental level. FinCEN still only has jurisdiction over the AML part of bitcoins, and the CFTC still doesn't have jurisdiction over its exchange.
Can't look up the links atm, but in at least one north-European country bitcoins were ruled a commodity, implying VAT or sales tax on all transactions. I would not dismiss the US ruling as insignificant. For example, cases of theft now have an important precedent set. I know about Germany. You can actually sell bitcoins there after a year after purchase tax-free. We have yet to come up with anything on a similar level at the legal level. I'm curious to see what happens when different states decide different things on Bitcoin.
|
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
August 13, 2013, 02:09:10 PM |
|
|
Bro, do you even blockchain? -E Voorhees
|
|
|
ManBearPig
|
|
June 02, 2014, 12:59:32 PM |
|
Is thread abandoned now? Anyone else want to take up the mantle or has someone done so in another thread?
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
June 02, 2014, 01:50:13 PM |
|
Is thread abandoned now? Anyone else want to take up the mantle or has someone done so in another thread?
Sorry yes I have abandoned this baby for one IRL. Someone else please feel free to pick up the ball.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
ManBearPig
|
|
June 02, 2014, 01:52:41 PM |
|
Thanks for the reply, I'll try to update it with the most important developments.
|
|
|
|
zimmah
Legendary
Offline
Activity: 1106
Merit: 1005
|
|
June 02, 2014, 02:06:23 PM |
|
Really? 30T in tax haven bank accounts? That's a whole lot of money. Is that realiable information? Imagine if just 1% of that money is switching to bitcoin. Or 5%, or 10% That would be huge... Never mind if they all decided to buy bitcoin
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
June 02, 2014, 02:13:43 PM |
|
Really? 30T in tax haven bank accounts? That's a whole lot of money. Is that realiable information? Imagine if just 1% of that money is switching to bitcoin. Or 5%, or 10% That would be huge... Never mind if they all decided to buy bitcoin yes its reliable. Check out Trace mayer on youtube and how to vanish. He isnt as visible a figure in bitcoin as he was a few years ago but still recommend his stuff.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
|
minimalB
Donator
Hero Member
Offline
Activity: 674
Merit: 522
|
|
June 12, 2014, 11:38:47 AM |
|
Thanks for the reply, I'll try to update it with the most important developments.
Just a thought: If you are serious about future updates, i guess it would be best to open new thread, self moderated maybe, then copy all lebing's data and put all new entries also into the first post. It's very convenient to show this info to someone if all the data is included in first few posts.
|
|
|
|
ManBearPig
|
|
June 12, 2014, 11:48:25 AM |
|
Yes indeed that would be best. I can manage it if I just post the most important developments.
|
|
|
|
minimalB
Donator
Hero Member
Offline
Activity: 674
Merit: 522
|
|
June 12, 2014, 11:57:39 AM |
|
Yes, that would be perfect.
Let us know our new link to watch : )
|
|
|
|
|
lebing (OP)
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
June 12, 2014, 02:43:13 PM |
|
NP, thanks for picking it up Have fun with the new thread
|
Bro, do you even blockchain? -E Voorhees
|
|
|
|