2013-03-06 MONEY.CNN.COM Why cyber currency bitcoin is trading at an all-time hi

[DeanC]

http://money.cnn.com/2013/03/06/technology/innovation/bitcoin/

Bitcoin sounds like something from science fiction: A purely digital currency, created by an anonymous hacker, that operates outside the world's traditional banking systems. The four-year-old currency is very real, though, and it's trading an all-time high, tripling in value in the last two months alone.

//

I recommended it on FB and twitted on my twitter. Let them know we like it!

[sega01]

This is pretty awesome. Thanks for posting.

This might help Bitcoin hit the $50 mark, maybe by the end of this month or even sooner.

[Frequency]

Nice one AGAIN good news...,,, 

[Technomage]

Very bullish article and in a big site. Major press.

[DeathAndTaxes]

One deal chronicled on the bitcoin data site BlockChain involved a transfer worth nearly $80,000. The processing fee was 1.8 cents. Beat that, Western Union.

Game. set. match.

To the (often uninformed) people say Bitcoin has no "intrinsic value" ... what would you value an open transparent network with barriers or restrictions that allows anyone to send $80,000 anywhere in the world for less than 2 cents?  $100M?  $1B? $10B?  The network IS the "intrinsic value".

[Raoul Duke]

One deal chronicled on the bitcoin data site BlockChain involved a transfer worth nearly $80,000. The processing fee was 1.8 cents. Beat that, Western Union.

Game. set. match.

To the (often uninformed) people say Bitcoin has no "intrinsic value" ... what would you value an open transparent network with barriers or restrictions that allows anyone to send $80,000 anywhere in the world for less than 2 cents?  $100M?  $1B? $10B?  The network IS the "intrinsic value".

Shit dude, you nailed it right there! 

[Technomage]

To the (often uninformed) people say Bitcoin has no "intrinsic value" ... what would you value an open transparent network with barriers or restrictions that allows anyone to send $80,000 anywhere in the world for less than 2 cents?  $100M?  $1B? $10B?  The network IS the "intrinsic value".

Exactly. As surprising as it is, I think that people might be starting to finally get it.

[wtfvanity]

One deal chronicled on the bitcoin data site BlockChain involved a transfer worth nearly $80,000. The processing fee was 1.8 cents. Beat that, Western Union.

Game. set. match.

To the (often uninformed) people say Bitcoin has no "intrinsic value" ... what would you value an open transparent network with barriers or restrictions that allows anyone to send $80,000 anywhere in the world for less than 2 cents?  $100M?  $1B? $10B?  The network IS the "intrinsic value".

But we have a bunch of people that don't want to change the maximum block size, so one day it will be similar to a wire transfer free. Currently 2 cents, in the future? Maybe not. Contact your local Bitcoin Foundation representative today.

[klaus]

Game. set. match.

excellent summary!

same here ... I cant believe what i'm reading from CNN (!). Is 'bitcoin' lately a add-customer or still WU like the last years?





ROFL ROFL ROFL

[TraderTimm]

This is major, but I have to admit I'm a little worried.

While the government already knows about bitcoin from other publicity, CNN just puts it right out front and in their face. I hope they don't decide to enact anything stupid on that basis.

I guess we'll see, just flagging a concern.

[TooCasual]

Nah, all the government employees and congress individuals will be getting in on the action. hehe.

TC.

[21after2]

Read this at work today. CNN has been a lot more civil with Bitcoin articles than most major publications. Nice to have some decent publicity out there.

[Gabi]

Great article. Explain everything in a concise and good way!

[Deafboy]

This was the first really GOOD ARTICLE in mainstream media about bitcoin. I was not expecting this.

[dree12]

This is major, but I have to admit I'm a little worried.

While the government already knows about bitcoin from other publicity, CNN just puts it right out front and in their face. I hope they don't decide to enact anything stupid on that basis.

I guess we'll see, just flagging a concern.

You worry too much about government. No matter how many mistakes it makes, it still acts in public interest. Public interest is to embrace a new revolutionary financial technology, not to ban it.

[nevafuse]

You worry too much about government. No matter how many mistakes it makes, it still acts in public interest. Public interest is to embrace a new revolutionary financial technology, not to ban it.

The same public interest that embraces gambling, drugs, and tax evasion?  People like having control over other people.  Bitcoin removes that control.  I disagree that the public interest is behind bitcoin, but I really hope the government is too slow to really inflict any real damage.  Regardless, I plan & recommend on not poking the bear.

[Raoul Duke]

This is major, but I have to admit I'm a little worried.

While the government already knows about bitcoin from other publicity, CNN just puts it right out front and in their face. I hope they don't decide to enact anything stupid on that basis.

I guess we'll see, just flagging a concern.

You worry too much about government. No matter how many mistakes it makes, it still acts in public interest. Public interest is to embrace a new revolutionary financial technology, not to ban it.

I don't know how it is in other countries, but at least around here they are starting to see that the financial system is not a friend of governments at all and (very)slowly acting on it. All they want is to enslave people. Even politicians will realise it sooner or later.

[dree12]

You worry too much about government. No matter how many mistakes it makes, it still acts in public interest. Public interest is to embrace a new revolutionary financial technology, not to ban it.

The same public interest that embraces gambling, drugs, and tax evasion?  People like having control over other people.  Bitcoin removes that control.  I disagree that the public interest is behind bitcoin, but I really hope the government is too slow to really inflict any real damage.  Regardless, I plan & recommend on not poking the bear.

Bitcoin does not support gambling, drugs, or tax evasion. That is a complete myth. I ran some numbers, and drugs and gambling combine for approximately 10% of the network. That's about as much as it is for regular fiat.

The people on Bitcointalk have an irrational fear of government, believing it to be more than what it is—an association of people help organize society. Yes, it is power-hungry; and yes, it makes mistakes—but there is zero reason to believe it will attack a currency that benefits its own people.

[imanikin]

The link looks dead now. I think they were just joking. 

[puck2]

The link looks dead now. I think they were just joking.  

The link is back up: http://money.cnn.com/2013/03/06/technology/innovation/bitcoin/