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Author Topic: Bitcoin press hits, notable sources  (Read 401789 times)
ChupacabraHunter
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May 09, 2011, 11:28:28 AM
 #201

Yes, please could someone scan Forbes?

Chupacabraaa..
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May 09, 2011, 12:22:30 PM
 #202

The Hindu (Bangalore, India) - New currency on the block by Deepa Kurup
 - http://www.thehindu.com/news/cities/Bangalore/article2001732.ece

"This open source project was created in 2009 by Satoshi Nakamoto and was formally announced by Google in March 2010"  ha!!

But this part was spot on:

Quote
"BitCoin is yet to make an impact among Indian users. But considering the thousands of PayPal customers who suffered last year when the firm withdrew services from India, this is one idea that is likely to catch on among freelancers and small businesses."

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May 09, 2011, 03:33:12 PM
 #203

it's been in newstands for a couple weeks at least, read it at the store yesterday.  I've gotta admit, people I've spoken to are looking at it differently now that it's been "legitimized" in their eyes.
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May 09, 2011, 03:46:57 PM
 #204

At what point in the podcast does Leo smash bitcoin?

It is at 47:25. The host Leo seems to actually like Bitcoin (he was one of the hosts in that great Security Now show about Bitcoin.) Instead, he criticizes the cash/Bitcoin exchange markets which, he thinks, are mostly used for money laundering. Here is the actual quote (the context is within a segment of the episode where they are talking about alternative currency / money transfer sites like WebMoney, Liberty Reserve, and how they are used by crooks to sell illegal software and services):

Quote from: Leo Laporte from MacBreak Weekly http://twit.tv/mbw245
You know Bitcoin, which is very interesting, we did a whole show on Bitcoin at Security Now.
I think, really, because you can generate these Bitcoins on your Mac or any computer with spare cycles.
And then there is a a market for Bitcoin in cash.
And the only reason I could think of why that would be is because that's a great way to launder money, you know.


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May 09, 2011, 06:30:01 PM
 #205

http://www.survivalblog.com/2011/05/the_coming_bitcoin_revolution.html
http://www.survivalblog.com/tencent.html

Brief and favorable. I sent the first dime :-)

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May 09, 2011, 08:19:18 PM
 #206

http://apenwarr.ca/log/?m=201105#08

Anybody see this? It been nuked several times from HN people.

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May 09, 2011, 08:44:12 PM
 #207

http://apenwarr.ca/log/?m=201105#08

Anybody see this? It been nuked several times from HN people.

Just read this.  Would be interested in reading anyone's response/rebuttal.  (Though the guy is kind of a dick in his manner, his reasoning isn't entirely unsound.)
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May 09, 2011, 08:51:58 PM
 #208

http://apenwarr.ca/log/?m=201105#08

Anybody see this? It been nuked several times from HN people.

Just read this.  Would be interested in reading anyone's response/rebuttal.  (Though the guy is kind of a dick in his manner, his reasoning isn't entirely unsound.)

I did one here:
http://bitcointalk.org/index.php?topic=7712.msg112514#msg112514

I'm really completely surprized that this article makes some fuss. There are plenty of bad stuffs to say about bitcoin. This guy completely miss them and fall into his own illogical fallacies. (the fact that it was retweeted so much confirm the fact that rhetoric is more important than logic. People don't use logic, they follow their feeling)

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May 09, 2011, 09:04:22 PM
 #209

This post isn't worth taking seriously.  His argument is literally "it's safe to assume that bitcoin has serious flaws" which is just ridiculous.  But if you need all four points debunked:

1.  BitCoin has nothing to do with a gold standard.  Because there's no gold.  To be more precise, this issue only matters if the entire economy were to become BitCoin, and this isn't going to happen.  BitCoin is a niche--distributed, zero-trust, low-overhead money.  If his argument is true the only consequence is that the whole economy won't become BitCoin because it will be outcompeted in other sectors of money usage:  not that BitCoin will fail.
2.  Governments won't squash it if it has any significant momentum, because the private information transfer problem is mathematically solved.  When comparing to filesharing one has to note that multi-gigabyte files are being shared via p2p, which is the only reason the whole business hasn't gone fully dark yet.  If there is any threat to BitCoin, the whole system can be easily encrypted and undetectable with just a few lines of code.  See the BitFN project.
3.  lol.  LOL.  lol.  Just ask any crypto pro about whether "it's safe to assume that [bitcoin's cryptosystem] has serious flaws".  This guy needs to learn some math, and do his homework.  BitCoin uses very highly tested crypto in very highly tested ways.  Online banking would fail first.
4.  Yes.  BitCoin is only useful online.  Too bad the internet is such a fledgling project with no future.

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May 09, 2011, 09:20:32 PM
 #210

Anyway, no sign of a Forbes rally due to the print version. Bruce, I'm still waiting for your 5$/btc predicted this morning  Wink

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May 09, 2011, 09:25:37 PM
 #211

Anyway, no sign of a Forbes rally due to the print version. Bruce, I'm still waiting for your 5$/btc predicted this morning  Wink

Really?  Did Bruce really predict that there would be such a rapid response from the remainder of the Forbes readership that actually reads print?

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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May 09, 2011, 09:27:47 PM
 #212

Yes, he did :
https://twitter.com/#!/brucewagner/status/67575981820485632

Sorry Bruce ;-)

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May 09, 2011, 09:29:45 PM
 #213

4.  Yes.  BitCoin is only useful online.  Too bad the internet is such a fledgling project with no future.
ROTFL  Grin

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May 09, 2011, 09:52:19 PM
 #214

Folks saying the Forbes article had no major effect: Don't forget that the issue went to subscribers quite some time before it hit the newsstand. I read the print article several weeks ago in my department office at school. You know, just before we spiked up to 4.15 from 2.6 or so.

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May 09, 2011, 09:56:35 PM
 #215

1.  BitCoin has nothing to do with a gold standard.  Because there's no gold.  To be more precise, this issue only matters if the entire economy were to become BitCoin, and this isn't going to happen.  BitCoin is a niche--distributed, zero-trust, low-overhead money.  If his argument is true the only consequence is that the whole economy won't become BitCoin because it will be outcompeted in other sectors of money usage:  not that BitCoin will fail.

Technologies have a tendency to escape their little niches.

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May 09, 2011, 10:15:33 PM
 #216

It looks like bitcoins are making it into the physical world as well.

http://bitbills.com/index.html

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May 10, 2011, 12:22:18 AM
 #217

I can sell silver and gold coins minted over 3000 years ago, and numismatic premiums aside, I can reap their precious metal worth to purchase any products made in the world. Can anyone look me in the digital eyes and convince me that Bitcoins will be of value in 30 years, much less 3 millenia from now?
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May 10, 2011, 12:39:39 AM
 #218

I can sell silver and gold coins minted over 3000 years ago, and numismatic premiums aside, I can reap their precious metal worth to purchase any products made in the world. Can anyone look me in the digital eyes and convince me that Bitcoins will be of value in 30 years, much less 3 millenia from now?

Can anyone look you in the eyes and convince you that the USD you sell your silver and gold for will be of value 30 years, much less 3 millenia from now?

Your argument is not valid because gold and silver are not officially treated as money, they are commodities.

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May 10, 2011, 03:46:09 AM
 #219

Anyway, no sign of a Forbes rally due to the print version. Bruce, I'm still waiting for your 5$/btc predicted this morning  Wink
$4.99...close enough?
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May 10, 2011, 04:21:05 AM
 #220

1.  BitCoin has nothing to do with a gold standard.  Because there's no gold.  To be more precise, this issue only matters if the entire economy were to become BitCoin, and this isn't going to happen.  BitCoin is a niche--distributed, zero-trust, low-overhead money.  If his argument is true the only consequence is that the whole economy won't become BitCoin because it will be outcompeted in other sectors of money usage:  not that BitCoin will fail.

Technologies have a tendency to escape their little niches.
Very true--but there's no need to speculate when the response that avoids speculation is already effective.  He might be wrong, he might be right; but either way it's not critical to BitCoin's survival.

If you found my post helpful, feel free to send a small tip to 1QGukeKbBQbXHtV6LgkQa977LJ3YHXXW8B
Visit the BitCoin Q&A Site to ask questions or share knowledge.
0.009 BTC too confusing?  Use mBTC instead!  Details at www.em-bit.org or visit the project thread to help make Bitcoin prices more human-friendly.
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