AMA: Ask a Veteran of Bitcoin

[gweedo]

Ask me any bitcoin questions you have.

Things I will not answer is how many bitcoins, bitcoin related stock, or investments I have. But everything else is fair game so if you wanted to know about security, how to handle certain situations, even technical questions ask away.

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[HeroC]

Back when bitcoin was starting, were faucets giving out tens of hundreds of coins?

[01BTC10]

How did you find about Bitcoin?

-.-

[btceic]

Are you concerned about the recent developments with FinCen, IRS and the multitude of services that have been shutdown or effectively nuttered?

[gweedo]

How did you find about Bitcoin?

-.-

I saw Gavin and Amir on TWIST (This week in startups) and I was looking for an easy way to handle payments for a site I was making. I research it and at that point I was into bitcoins, but I was more into that at some point it would make me rich. I thought of it as more of a savings. Then it hit $10 per coin, and I was like I need to put more time into then that is when I went extremely crazy with bitcoins, and was like I need earn more of these things.

[macintosh]

Back when bitcoin was starting, were faucets giving out tens of hundreds of coins?

Yes at one point Gavin (the lead developer of bitcoin and developed the first faucet) had a full balance of about ~15,000 Coins. People were able to get about 5 coins. Cause coins were worth very little at that time.

I remember those days.. Oh god the agony.

[edd]

What's Satoshi really like?

[gweedo]

Back when bitcoin was starting, were faucets giving out tens of hundreds of coins?

Yes at one point Gavin (the lead developer of bitcoin and developed the first faucet) had a full balance of about ~15,000 Coins. People were able to get about 5 coins. Cause coins were worth very little at that time.

I remember those days.. Oh god the agony.

The great days!

[btceic]

Now that you have seen BTC breach a 1 billion $ market cap and beyond and the multitude of services, businesses and eco-system spring to life, what are your expectations going forward for 2014, 2015 and beyond.

[gweedo]

Now that you have seen BTC breach a 1 billion $ market cap and beyond and the multitude of services, businesses and eco-system spring to life, what are your expectations going forward for 2014, 2015 and beyond.

I feel the eco-system is still very small, but I feel it is over crowed in two areas, gambling and merchant processing. I think going forward we are going to see more bitcoin sites disrupting areas that are screwing content creators, I would go into more detail but that is where my next company is focusing so I rather not so stay tuned

2015 I will call it now $2 billion market cap.

[btceic]

Now that you have seen BTC breach a 1 billion $ market cap and beyond and the multitude of services, businesses and eco-system spring to life, what are your expectations going forward for 2014, 2015 and beyond.

I feel the eco-system is still very small, but I feel it is over crowed in two areas, gambling and merchant processing. I think going forward we are going to see more bitcoin sites disrupting areas that are screwing content creators, I would go into more detail but that is where my next company is focusing so I rather not so stay tuned

2015 I will call it now $2 billion market cap.

Interesting that you only see a 100% growth rate in 2 years.

[freedomno1]

Back in the days of CPU mining what was your initial start difficulty when you joined bitcoin 

[gweedo]

Back in the days of CPU mining what was your initial start difficulty when you joined bitcoin 

I never did CPU mining cause I have a macbook and macs aren't design to handle that intense CPU power. So I never really mined, but I did try and develop a mining application as one of my first applications, and I never finished it actually.

[01BTC10]

Did you invest with pireateat40 or GLBSE?

Did you lose any money with any Bitcoin fiasco?

[ShoopDaWhoop]

Have you ever played SatoshiDice?

[FreddyFender]

Are you satisfied that the beginning of a protocol as being implemented with libBitcoin and bitcoinj? Standards are not being applied yet to the Bitcoin-QT client, although it is not Gavin's job. You have been fierce in the past and I was wondering if you had mellowed or have a different view?

FF

[gweedo]

Have you ever played SatoshiDice?

No gambling, is a no win situation in my eyes.

[gweedo]

Thanks to the mod that removed those spammers.

[freedomno1]

Thanks to the mod that removed those spammers.

Got peaceful probably related to the buying account thread too
Lets see another question
What is the best idea to occur to you since using bitcoin

[Garr255]

I've been around about as long as gweedo, and I found out about bitcoin in November of 2010 by going to the website http://c.cc/

Unfortunately I just said to myself "ohh that's cool" and didn't take any action on it until the next year when bitcoin got some more publicity. I'm glad I've been around as long as I have It's been a great time and I can't wait to see where bitcoin goes from here!