2013-02-28 Slashdot: Bitcoin hits new all-time high of 32

[payb.tc]

http://slashdot.org/story/13/02/28/1958208/bitcoin-hits-new-all-time-high-of-32

"Bitcoin tops its previous all-time high of $31.91 and in doing so it proves to be quite a resilient virtual currency. To the supporters of Bitcoin this does not come as a surprise, since we have seen the likes of WordPress, Reddit and Mega embrace it. Recently Namecheap also confirmed that they will start accepting bitcoins. The new record price was reached on the same day that Mt. Gox, the world's largest Bitcoin exchange, reached an agreement with CoinLab to manage the exchange's operations in the U.S. and Canada."

[Luno]

And the comments are so /.'ish!

[Technomage]

This was posted by yours truly. I've submitted a Bitcoin related post 5 times, 3 of them have made it to the front page.

[Mike Christ]

Naysayers gonna say nay

[nobbynobbynoob]

Let's not be critical of Slashdot, they made Bitcoin "famous" to begin with.

[21after2]

Just posted today and it's already out-of-date, lol! $33.49 according to my client... who'd have thunk it? Other than, of course, the entire Bitcoin community.

[TraderTimm]

I doubt I'll get voted up as a "Anonymous Coward" - but here's my reply:

======================================================

Valuation of bitcoin, or BTC, in other sovereign currencies isn't the point here - neither is 'cashing out' or any of that nonsense. The end-game here is to supplant and possibly replace sovereign currencies entirely. It may seem overly ambitious, but from all the financial scandals and other daily scams that are perpetuated by the banking and financial industry - people are getting *sick* of how the current system operates.

Edge exchanges will dominate for a while, but as things change, and end-to-end supply chains form that are BTC denominated, the conversion demand will change and people will be able to keep their entire activity within the BTC realm. This is important, because then true monetary freedom has been achieved. Nobody telling you what you can spend your money on, or stipulations as minimum balances or hours of operation.

This is the biggest revolution in finance taking place right in front of you, and most commenters here dismiss it out-of-hand.

[payb.tc]

meanwhile, this stupid got up-voted:

Right now the problem is the increasing value of a bitcoin - at $30 each, 1 bitcoin is seriously going to overpay for a lot - I mean, if 1 bitcoin buys you a 2 year domain registration, that's about 50% more than what it would cost regularly. Or say I ran a store offering 10 music tracks per bitcoin or 2 albums. Now with it going higher, it would mean having to let customers overpay, or give them stuff they don't want (e.g., 25 tracks, or 2 albums + 5 tracks), which if you only want ONE song, is kind of annoying.

to misquote john lennon: 1 is the smallest number that he's ever seen

[TraderTimm]

Oops, I mis-spoke -- it got upvoted to "3, Interesting"!

I'm nerd-famous, woo...

[imanikin]

Let's not be critical of Slashdot, they made Bitcoin "famous" to begin with.

That's why there will probably be more anti-B astroturf than anywhere else. I don't know why you guys even bother wasting time interacting with trolls and astroturfers in such places, unless it's just fun for you. 

[marcus_of_augustus]

meanwhile, this stupid got up-voted:

Right now the problem is the increasing value of a bitcoin - at $30 each, 1 bitcoin is seriously going to overpay for a lot - I mean, if 1 bitcoin buys you a 2 year domain registration, that's about 50% more than what it would cost regularly. Or say I ran a store offering 10 music tracks per bitcoin or 2 albums. Now with it going higher, it would mean having to let customers overpay, or give them stuff they don't want (e.g., 25 tracks, or 2 albums + 5 tracks), which if you only want ONE song, is kind of annoying.

to misquote john lennon: 1 is the smallest number that he's ever seen

This is just hilarious ... it really goes to show that big numbers can explode small minds!

[Atruk]

Let's not be critical of Slashdot, they made Bitcoin "famous" to begin with.

That's why there will probably be more anti-B astroturf than anywhere else. I don't know why you guys even bother wasting time interacting with trolls and astroturfers in such places, unless it's just fun for you. 

/. is only the worst place on the internet if you forget every other place...

Thank chance I had mod points to burn on that post.

[Technomage]

I have to say this: Excellent work guys! Some people in the Bitcoin community really stood up to the trolls this time. I read through all the enlarged comments and they were pretty good on average. Much better than on the other recent Bitcoin submissions.

The work some of you put to the comments DOES matter. Most people only read either the submission itself (which was good;) or the highlighted comments as well. This time the comments weren't all that bad. Good work.

[epetroel]

I could never figure out why the slashdot crowd seems so hostile on Bitcoin.

Was good to see another Bitcoin article there though (was in there moderating up some good posts yesterday)