Bitcoin Millionaires and their influence.

[Jocky]

An article about the potential long term influence of media and Bitcoin Millionaires on the Bitcoin Community.

I know this discussion isn't new, but I think the combination of media and the rich and famous is something we're used to in classical economics.
However, and extravagant guy like Kim Dotcom may form a risk for Bitcoin when he shows up in the newspapers with a 'f*ck the system song' again. If people realize that this guy owns a big share in the Bitcoin economy, it can be bad news for the trust people have in Bitcoin.

[Zomdifros]

I do not see a problem here. Sure, there are a few big players who are going to become very rich, a lot of them billionaires. I bet that we will even see a few guys eventually becoming richer than Bill Gates ever was, or perhaps even John D. Rockefeller. But why is that a problem? Rational behavior for most of these whales would dictate that they are slowly selling their coins to diversify their assets and this is exactly what we see happening. And most large transactions are probably done in the OTC market or in the future in the Tradehill pools anyway, in order not to disrupt the market. Besides that, we are already witnessing large dumps taking place or large walls being set on MtGox and yet the price is still rising.

[BTC Books]

Agreed.  The last thing we need now is for Bitcoin to develop a reputation as the payment medium of scumbags (not that I mean to apply this term to any specific individual).

We really need to see some high-profile, mainstream businesses and charities embrace Bitcoin.  One problem right now is that, at current growth rates in price, one would be a fool to spend the stuff.

One would be a fool not to.  If you can't bring yourself to spend any of your stash, then buy BTC with fiat to spend on specific things you want to purchase.  Also - buy a little extra, and add it to your stash:  every time you want something that's offered for sale in bitcoin.

I look forward to when the price tops out, so that we can get down to the real business of doing real business.

If you have a way to figure out when the price tops out, would you please PM me and share?

[BTC_MACD]

Agreed.  The last thing we need now is for Bitcoin to develop a reputation as the payment medium of scumbags (not that I mean to apply this term to any specific individual).

We really need to see some high-profile, mainstream businesses and charities embrace Bitcoin.  One problem right now is that, at current growth rates in price, one would be a fool to spend the stuff.

One would be a fool not to.  If you can't bring yourself to spend any of your stash, then buy BTC with fiat to spend on specific things you want to purchase.  Also - buy a little extra, and add it to your stash:  every time you want something that's offered for sale in bitcoin.

I look forward to when the price tops out, so that we can get down to the real business of doing real business.

If you have a way to figure out when the price tops out, would you please PM me and share?

Haha....no, don't share just PM me....lol

[Jocky]

I do see a problem with Kim Dotcom, he influence is great within the Bitcoin and internet activist community. His ideas have not been proven to be safe for the modern world.
This group of internet activists and Bitcoiners contains some of the worlds greatest hackers, this will be the most powerful group of people in the upcoming hackers war, and he knows.