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Author Topic: 2013-05-06 NY Times: A Push for a Bitcoin Buttonwood  (Read 4870 times)
Arvicco
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May 07, 2013, 04:46:24 AM
 #1

http://dealbook.nytimes.com/2013/05/06/a-push-for-a-bitcoin-buttonwood/

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Amid the incense, cheap art and herbal remedies for sale in Union Square in Manhattan on Monday, a very different kind of product was changing hands: bitcoins.

Just feet from the park’s statue of George Washington, a crowd of young men gathered on Monday afternoon to buy and sell the digital, crypto-currency.

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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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May 07, 2013, 01:30:52 PM
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Woah. This story is very promising. Hopefully it will be one of many things that helps push traditional exchanges towards trading bitcoin, thus validating it within the eyes of the government.
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May 07, 2013, 11:39:09 PM
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This catching on would absolutely freak the financial guys out - at least those near the top. I'm sure some of the actual traders on the NYSE floor would love to participate in some good old-fashioned open outcry Smiley

Good for them, I really like this idea spreading.

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May 08, 2013, 01:22:14 AM
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Awesome.  I am really looking forward to seeing where this ends up.

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He jokingly said he would serve as the exchange’s clerk if someone bought him a Coke.
I hope somebody got that man a Coke.  Grin

If the traditional, legacy exchanges won't trade bitcoin, we'll make our own.

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May 08, 2013, 01:28:08 AM
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careful.

Bart Chilton might mobilize the riot police.

idiot.
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May 08, 2013, 01:31:28 AM
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Love this story ... just think a coffe shop/ internet cafe where you could hook up with any value range of bitcoin dealers P2P traders ... over there is the bitpenny traders ... in that sofa are the medium guys ... behind that rice paper screen are the high rollers  Cheesy

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May 08, 2013, 03:09:51 AM
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Popper has been around Bitcoin enough to know how it works, but then he writes:

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In order to transfer the online currency, Mr. Rossi used his smartphone to take a picture of the graphic code on Mr. Gunden’s phone, which provided access to his bitcoin account.

With readers not knowing that Bitcoin doesn't have "Bitcoin accounts", I suppose this was just a way of describing how the buyer, Rossi, learned where to send the payment to. 

But that was a poor way to describe it.


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May 09, 2013, 02:10:03 AM
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Cool, I might go next week

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May 09, 2013, 02:53:53 AM
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For those interested in reading more about this story, this post on reddit looks to be the original post mentioned in the story.

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May 19, 2013, 07:23:37 AM
Last edit: May 19, 2013, 07:46:23 AM by tjohej
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For those interested in reading more about this story, this post on reddit looks to be the original post mentioned in the story.
Should NOT go to reddit, but to New York Times. Doh!  Roll Eyes

My father says that he won't listen to anybody but only somebody serious like the New York Times. What does the New York Times say about Bitcoin and what "experts"(I'm worried about this part!!  Embarrassed) do they(nytimes.com) get to talk about Bitcoin?

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Quote
In order to transfer the online currency, Mr. Rossi used his smartphone to take a picture of the graphic code on Mr. Gunden’s phone, which provided access to his bitcoin account.

But that was a poor way to describe it.
I'm afraid it's a good enough way to describe to my dad. One could call it an account, though otherwise we would say "In Bitcoin there are no accounts, but only hashes of a public keys intermixed with some salt" or is that inaccurate?

There may still be hope for the 1st decentralized cryptocurrency which is Bitcoin. How to approach different subjects is key to progress.
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