wachtwoord
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Merit: 1125
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October 19, 2013, 12:19:03 AM |
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So market cap is @ $3.2B as there are 21M BTC.
Not yet, there aren't. Of course there are. They just aren't assigned to anyone yet and cannot be transacted. It's a certainty that they will be though. Everyone not agreeing there are 21M BTC is retarded in my humble opinion. |
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Kupsi
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9.9.2012: I predict that single digits... <- FAIL
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October 19, 2013, 12:22:38 AM |
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So market cap is @ $3.2B as there are 21M BTC.
Not yet, there aren't. Of course there are. They just aren't assigned to anyone yet and cannot be transacted. It's a certainty that they will be though. Everyone not agreeing there are 21M BTC is retarded in my humble opinion. There have been made blocks without a full block reward. Bitcoin will never reach 21M BTC. |
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chriswilmer
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Activity: 1008
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October 19, 2013, 12:24:44 AM |
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So market cap is @ $3.2B as there are 21M BTC.
Not yet, there aren't. Of course there are. They just aren't assigned to anyone yet and cannot be transacted. It's a certainty that they will be though. Everyone not agreeing there are 21M BTC is retarded in my humble opinion. I sort of think this way as well. It's one of those areas where Bitcoin is new and we are using outdated concepts to describe it. For conventional currencies, there is a real difference between the amount of bills in circulation today and the unknown future amount due to the actions of the printing press. In Bitcoin, the total money supply is completely known... if anything, it's smaller than we think it is due to permanently lost coins. There is SOME kind of distinction between the amount already mined and the total amount, but I don't think it's as consequential as with traditional currencies. |
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wachtwoord
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October 19, 2013, 12:27:21 AM |
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So market cap is @ $3.2B as there are 21M BTC.
Not yet, there aren't. Of course there are. They just aren't assigned to anyone yet and cannot be transacted. It's a certainty that they will be though. Everyone not agreeing there are 21M BTC is retarded in my humble opinion. There have been made blocks without a full block reward. Bitcoin will never reach 21M BTC. It's a hell of a lot closer to 21M than to 11.8M. |
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NewLiberty
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Activity: 1204
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Gresham's Lawyer
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October 19, 2013, 03:45:32 AM |
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So market cap is @ $3.2B as there are 21M BTC.
Not yet, there aren't. Of course there are. They just aren't assigned to anyone yet and cannot be transacted. It's a certainty that they will be though. Everyone not agreeing there are 21M BTC is retarded in my humble opinion. There have been made blocks without a full block reward. Bitcoin will never reach 21M BTC. It's a hell of a lot closer to 21M than to 11.8M. You might think of it that way... The stock analogy would be a float of 11.8M of almost 21M total shares outstanding. I suspect that many would argue the matter. Whether the coins exist as unassigned or not might be something for the philosophers. |
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chriswilmer
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Merit: 1000
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October 19, 2013, 03:48:33 AM |
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972 yuan is 160 USD... Bitstamp is falling behind... wonder what's up.
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NewLiberty
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Gresham's Lawyer
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October 19, 2013, 04:00:30 AM |
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972 yuan is 160 USD... Bitstamp is falling behind... wonder what's up.
Baidu for one... https://www.google.com/finance?q=NASDAQ:BIDUIf other stocks do what theirs did after announcing that they take bitcoin (even if only marginally) this could be an interesting year... |
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chriswilmer
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Activity: 1008
Merit: 1000
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October 19, 2013, 04:04:55 AM |
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972 yuan is 160 USD... Bitstamp is falling behind... wonder what's up.
Baidu for one... https://www.google.com/finance?q=NASDAQ:BIDUIf other stocks do what theirs did after announcing that they take bitcoin (even if only marginally) this could be an interesting year... Interesting!!! |
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FNG
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October 19, 2013, 05:12:21 AM |
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972 yuan is 160 USD... Bitstamp is falling behind... wonder what's up.
Not anymore.. well not by as much |
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NewLiberty
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Activity: 1204
Merit: 1002
Gresham's Lawyer
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October 19, 2013, 05:23:26 AM |
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972 yuan is 160 USD... Bitstamp is falling behind... wonder what's up.
Baidu for one... https://www.google.com/finance?q=NASDAQ:BIDUIf other stocks do what theirs did after announcing that they take bitcoin (even if only marginally) this could be an interesting year... Interesting!!! I'd bought some baidu when google was pulling out of china. Its been profitable. And now they've beat google to bitcoin, while google is already working on Ripple...times are weird. |
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wachtwoord
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Activity: 2324
Merit: 1125
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October 19, 2013, 05:24:36 AM |
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972 yuan is 160 USD... Bitstamp is falling behind... wonder what's up.
Baidu for one... https://www.google.com/finance?q=NASDAQ:BIDUIf other stocks do what theirs did after announcing that they take bitcoin (even if only marginally) this could be an interesting year... Interesting!!! I'd bought some baidu when google was pulling out of china. Its been profitable. And now they've beat google to bitcoin, while google is already working on Ripple...times are weird. WTF did Google go for Ripple? I just let out a big sigh. I hope the scam that is Ripple won't spread too far ... |
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NewLiberty
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Activity: 1204
Merit: 1002
Gresham's Lawyer
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October 19, 2013, 05:33:36 AM |
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972 yuan is 160 USD... Bitstamp is falling behind... wonder what's up.
Baidu for one... https://www.google.com/finance?q=NASDAQ:BIDUIf other stocks do what theirs did after announcing that they take bitcoin (even if only marginally) this could be an interesting year... Interesting!!! I'd bought some baidu when google was pulling out of china. Its been profitable. And now they've beat google to bitcoin, while google is already working on Ripple...times are weird. WTF did Google go for Ripple? I just let out a big sigh. I hope the scam that is Ripple won't spread too far ... Google ventures invested about 200K or so, reportedly. I wish them well with it. It is not clear to me that it is a scam, but I haven't been able to do much with it yet either. If it eventually does what it promises, and makes trade simpler, where I can manage my silver/gold->minting->payment>silver/gold cycle in a better way, than I will be eager to see that happen. So far, Bitcoin is doing what I need it to do, and also promises much more. What is surprising is that even with this crypto currency investment, they haven't managed to accept payment yet. Advertising and content delivery are the killer apps for crypto. Micropayment anyone? Maybe I should have accepted the job when they wanted me. I could have fixed them a bit  |
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wachtwoord
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October 19, 2013, 05:40:43 AM |
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972 yuan is 160 USD... Bitstamp is falling behind... wonder what's up.
Baidu for one... https://www.google.com/finance?q=NASDAQ:BIDUIf other stocks do what theirs did after announcing that they take bitcoin (even if only marginally) this could be an interesting year... Interesting!!! I'd bought some baidu when google was pulling out of china. Its been profitable. And now they've beat google to bitcoin, while google is already working on Ripple...times are weird. WTF did Google go for Ripple? I just let out a big sigh. I hope the scam that is Ripple won't spread too far ... Google ventures invested about 200K or so, reportedly. I wish them well with it. It is not clear to me that it is a scam, but I haven't been able to do much with it yet either. If it eventually does what it promises, and makes trade simpler, where I can manage my silver/gold->minting->payment>silver/gold cycle in a better way, than I will be eager to see that happen. So far, Bitcoin is doing what I need it to do, and also promises much more. What is surprising is that even with this crypto currency investment, they haven't managed to accept payment yet. Advertising and content delivery are the killer apps for crypto. Micropayment anyone? Maybe I should have accepted the job when they wanted me. I could have fixed them a bit The original trusts system of Ripple was (is) interesting. Then they added centrally created XRPs with tradeable value to try and get rich (and succeeded). THAT is what makes it a scam. The more people invest in it the more likely it will stick around, which nauseates me. I prefer fiat currencies over Ripple and that is saying something. |
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NewLiberty
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Activity: 1204
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Gresham's Lawyer
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October 19, 2013, 05:46:07 AM |
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Google ventures invested about 200K or so, reportedly. I wish them well with it. It is not clear to me that it is a scam, but I haven't been able to do much with it yet either. If it eventually does what it promises, and makes trade simpler, where I can manage my silver/gold->minting->payment>silver/gold cycle in a better way, than I will be eager to see that happen. So far, Bitcoin is doing what I need it to do, and also promises much more. What is surprising is that even with this crypto currency investment, they haven't managed to accept payment yet. Advertising and content delivery are the killer apps for crypto. Micropayment anyone? Maybe I should have accepted the job when they wanted me. I could have fixed them a bit The original trusts system of Ripple was (is) interesting. Then they added centrally created XRPs with tradeable value to try and get rich (and succeeded). THAT is what makes it a scam. The more people invest in it the more likely it will stick around, which nauseates me. I prefer fiat currencies over Ripple and that is saying something. We're off the wall... but I don't see why XRP have tradable value, other than to join the network. It is like buying the ability to trade using the system, but why wouldn't your trading partners give the XRP needed to connect if they want to do business. I don't see where Ripple hopes to make any money except maybe through the analytics? |
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wachtwoord
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Activity: 2324
Merit: 1125
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October 19, 2013, 05:48:36 AM |
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Google ventures invested about 200K or so, reportedly. I wish them well with it. It is not clear to me that it is a scam, but I haven't been able to do much with it yet either. If it eventually does what it promises, and makes trade simpler, where I can manage my silver/gold->minting->payment>silver/gold cycle in a better way, than I will be eager to see that happen. So far, Bitcoin is doing what I need it to do, and also promises much more. What is surprising is that even with this crypto currency investment, they haven't managed to accept payment yet. Advertising and content delivery are the killer apps for crypto. Micropayment anyone? Maybe I should have accepted the job when they wanted me. I could have fixed them a bit The original trusts system of Ripple was (is) interesting. Then they added centrally created XRPs with tradeable value to try and get rich (and succeeded). THAT is what makes it a scam. The more people invest in it the more likely it will stick around, which nauseates me. I prefer fiat currencies over Ripple and that is saying something. We're off the wall... but I don't see why XRP have tradable value, other than to join the network. It is like buying the ability to trade using the system, but why wouldn't your trading partners give the XRP needed to connect if they want to do business. I don't see where Ripple hopes to make any money except maybe through the analytics? The XRPs have enormous market value at the moment and the original makers can sell whatever they like and are making (have made) a killing. The whole concept of XRPs is solely included to make them rich. I don't understand why anyone would use Ripple. |
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Zangelbert Bingledack
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October 19, 2013, 07:24:46 AM |
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wachtwoord, 21 million BTC will happen over time, but time=money, or more accurately there's a time value for money, so people discount the effect of those bitcoins coming onto the market the farther out in time that that occurs. It's certainly fair to say the price is lower than it would be if people believed coin issuance would stop cold tomorrow, but not as low as it would be if they believed all remaining bitcoins would be coming on to the market within the next few weeks/months/years. And the price would be way lower if it were weeks or months, and still quite a bit lower if it were years. The point is, how long it will be until the bitcoins are released onto the market matters. As for Ripple, yeah - to hell with XRP. It is tempting to call it a scam, but they have that base covered by their marketing so I prefer the term "ploy." Hitching XRP to Ripple was a deceptive ploy to make a pre-mined altcoin look legit. The people who did this wanted other things as well, but that ploy was their way of trying to secure a golden ticket, even at the risk of destroying the actual functionality of the system. Profit first, then maybe they'll worry about whether the actual product works. Shady as hell and not a promising attitude for developers to have at all. Certainly not something that people will be excited to support. Certainly not something that will prompt people to say, "I'm so inspired by you." At least they reacted to pressure and open-sourced it, but I don't know if that counts given they have it completely centralized and control XRP issuance with an iron fist that would make the Fed jealous. |
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Nemo1024
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October 19, 2013, 08:06:50 AM
Last edit: October 19, 2013, 08:37:13 AM by Nemo1024 |
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I wake up to see we are up to 160 wall (begone!) and my 159.98 sold out. Time to jump back into fray.  EDIT: Someone's eating that wall!!! |
“Dark times lie ahead of us and there will be a time when we must choose between what is easy and what is right.”
“We are only as strong as we are united, as weak as we are divided.”
“It is important to fight and fight again, and keep fighting, for only then can evil be kept at bay, though never quite eradicated.”
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Shermo
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October 19, 2013, 08:39:16 AM |
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What wall?  |
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Nemo1024
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October 19, 2013, 09:56:04 AM |
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What wall? That wall was high and scary, but someone ate it in one go, placing a buy order at 174! |
“Dark times lie ahead of us and there will be a time when we must choose between what is easy and what is right.”
“We are only as strong as we are united, as weak as we are divided.”
“It is important to fight and fight again, and keep fighting, for only then can evil be kept at bay, though never quite eradicated.”
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Patel
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Activity: 1321
Merit: 1007
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October 19, 2013, 02:12:43 PM |
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Oh yeah, lets dance people  |
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