CoolIT (OP)
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December 06, 2013, 04:04:39 AM |
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I seriously apologies if this is silly, I am reading this and found it interesting. It's a study about bitcoins, I wonder if it's accurate. https://s3.amazonaws.com/s3.documentcloud.org/documents/885843/banks-research-report-on-bitcoin.pdfI am a miner for a bit, but I never really studied or deeply looked into the if's and whats about how bitcoin really works. Please excuse me if it's silly. My experience is mining bitcoins since 2011 and didn't really play my cards right but still doing it for fun and now considering the high risk of pre-ordering some bew ASIC miners. I am also very curious about it's accuracy because I fell on this link... from the trollbox of btc-e... and that box of entertainers burns braincells in my opinion. |
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Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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Mylon
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Mining FTW
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December 06, 2013, 04:13:31 AM
Last edit: December 06, 2013, 04:38:18 AM by Mylon |
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Well if its from btc-e trollbox it should say enough... either way I'll have a read and decide for myself.  I'll let you know. EDIT: Above is a must read, very in dept economic view of bitcoin. |
"All Your Base Are Belong To Us" by CATS
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MoonShadow
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December 06, 2013, 04:19:55 AM |
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Wow, this is really well done. Thanks for the link. I've not read it all, obviously; but from what I've read thus far, it appears to be very well researched and a balanced assessment of Bitcoin as a financial investment asset. Whoever wrote it groks Bitcoin on a deep level in the Economic sense.
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"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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MoonShadow
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December 06, 2013, 04:26:26 AM |
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From the article... Conclusions
We believe Bitcoin could become a major means of payment for e-commerce and
may emerge as a serious competitor to traditional money-transfer providers. As a
medium of exchange, Bitcoin has clear potential for growth, in our view.
There is much speculation that Bitcoin may help avoid high taxes, capital
controls, and confiscation. The correlation between CNY's share of volume of all
Bitcoin exchanges and price of Bitcoin is rising. That said, the fact that all Bitcoin
transactions are publically available and that every Bitcoin has a unique
transaction history that cannot be altered may ultimately limit its use in the black
market/underworld.
Bitcoin’s role as a store of value can compromise its viability as a medium of
exchange. Its high volatility, a result of speculative activities, is hindering its
general acceptance as a means of payments for on-line commerce.
Is Bitcoin a bubble? Assuming Bitcoin becomes (1) a major player in both ecommerce
and money transfer and (2) a significant store of value with a
reputation close to silver, our fair value analysis implies a maximum market
capitalization of Bitcoin of $15bn (1BTC = 1300 USD). This suggests that the 100
fold increase in Bitcoin prices this year is at risk of running ahead of its
fundamentals. I think that, overall, it's an excellent assessment of near term investment risks. |
"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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Mylon
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Mining FTW
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December 06, 2013, 04:37:39 AM |
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Wow, this is really well done. Thanks for the link. I've not read it all, obviously; but from what I've read thus far, it appears to be very well researched and a balanced assessment of Bitcoin as a financial investment asset. Whoever wrote it groks Bitcoin on a deep level in the Economic sense.
Yes, I just finished reading this and I am also truly impressed. Whether his conclusions are right or not, doesn't really matter, the insight is great. |
"All Your Base Are Belong To Us" by CATS
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bigassboy
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December 06, 2013, 09:54:33 AM |
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great article, we will see if it is a bubble hopefully in the near future
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hilariousandco
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Join the world-leading crypto sportsbook NOW!
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December 06, 2013, 10:58:36 AM |
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Yeah, great read. Thanks for the share.
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