Accredited investors starting to get interested in BTC..

[dancingnancy]

My father is a private wealth planner.  Over the past couple months I have been hearing his clients calling into him and asking him about BTC.  Usually ends up with me getting on the phone with them and going over everything.  They for the most part have all been super positive when asking about BTC, but have some general questions and misconceptions.

My question is where is a good place to find the more technical info about bitcoin? 

That is the part that I really can't  obviously explain.  Most of these clients are engineers and business owners, so they are pretty much not "day 1" material types.  Anyway, the good part is that if clients are calling in and wondering to get in, there must just be tons of cash that isn't in BTC that will be very soon.  As soon as someone in the USA comes up with a legit exchange that doesn't suck is the time BTC will take off.  Just my opinion from some observations as of late.  There must be a large list of high net worth individuals that are in the same situation.

[Carlton Banks]

My question is where is a good place to find the more technical info about bitcoin?  

https://en.bitcoin.it pretty much has the lot (either in-site or linked to the main client's github documents).

Seeing as business owners are showing interest, it might be good advice to suggest selling goods and services for bitcoin as well as investing directly in holdings. It will improve the value of their holdings, as having more places to spend the money increases everyone elses propensity to hold or spend, as opposed to selling for fiat currency (i.e. increases trust in the reliable store of value). Very wise to accept bitcoin payment for businesses that have an international presence, or those that operate in tourist areas.

[dancingnancy]

My question is where is a good place to find the more technical info about bitcoin? 

https://en.bitcoin.it pretty much has the lot (either in-site or linked to the main client's github documents).

Seeing as business owners are showing interest, it might be good advice to suggest selling goods and services for bitcoin as well as investing directly in holdings. It will improve the value of their holdings, as having more places to spend the money increases everyone elses propensity to hold or spend, as opposed to selling for fiat currency (i.e. increases trust in the reliable store of value). Very wise to accept bitcoin payment for businesses that have an international presence, or those that operate in tourist areas.

Thanks carlton, I enjoy your avatar and your posts.  At one point if they get in they will have more of a reason to receive payment in BTC.  At one point it may become a domino effect where everyone that isn't accepting BTC looks like an idiot.  From the conversations I have had with these HNW individuals, and take in mind I am a nobody, I think this timeframe is within 5 years.

[MrPalmer]

There must be a large list of high net worth individuals that are in the same situation.

Didn't Snoop Dogg just say something about wanting to sell his next album for BTC?  He's ready to get involved.  Lots of people are, it's just so uncertain - they don't want to be first ones in the pool.  I think we'll see a lot of retailers, and business owners, take on BTC as a form of payment in the next few years.

Nice handle, btw.  

[gweedo]

My father is a private wealth planner.  Over the past couple months I have been hearing his clients calling into him and asking him about BTC.  Usually ends up with me getting on the phone with them and going over everything.  They for the most part have all been super positive when asking about BTC, but have some general questions and misconceptions.

My question is where is a good place to find the more technical info about bitcoin? 

That is the part that I really can't  obviously explain.  Most of these clients are engineers and business owners, so they are pretty much not "day 1" material types.  Anyway, the good part is that if clients are calling in and wondering to get in, there must just be tons of cash that isn't in BTC that will be very soon.  As soon as someone in the USA comes up with a legit exchange that doesn't suck is the time BTC will take off.  Just my opinion from some observations as of late.  There must be a large list of high net worth individuals that are in the same situation.

You should keep track of people that ask about bitcoins I be interested in that data just curious.

I would point them to coinbase, which isn't an exchange. But I have a feeling coinsetter which is in private beta will be the USA exchange that will blow the doors off exchanges, they are trying to raise ~$1 million in VC.

http://www.bloomberg.com/video/-coinsetter-files-to-raise-1-5m-ea5bAJABT7G8PZqtkXyGxA.html

[The_Gloomfrost]

Tell them to PM me and I will drive over and set everything up for them to get them with their first bitcoins.

[skivrmt]

My father is a private wealth planner.  Over the past couple months I have been hearing his clients calling into him and asking him about BTC.  Usually ends up with me getting on the phone with them and going over everything.  They for the most part have all been super positive when asking about BTC, but have some general questions and misconceptions.

My question is where is a good place to find the more technical info about bitcoin? 

That is the part that I really can't  obviously explain.  Most of these clients are engineers and business owners, so they are pretty much not "day 1" material types.  Anyway, the good part is that if clients are calling in and wondering to get in, there must just be tons of cash that isn't in BTC that will be very soon.  As soon as someone in the USA comes up with a legit exchange that doesn't suck is the time BTC will take off.  Just my opinion from some observations as of late.  There must be a large list of high net worth individuals that are in the same situation.

Has your father heard of this?

http://www.bitcointrust.co/

If they are accredited per the SEC rules a way to get them invested in Bitcoin and a way your father can earn something for helping them out.  Win win situation.   He can be the broker of record on a PENSCO IRA if they are using retirement funds which is a really popular option via Second Market.

Also has a nice little overly simplified presentation on why they should invest.  But should be perfect for the everyday person!

[Cryddit]

This is bad.  

I mean, it would be good news if the Bitcoin network could handle it, but as of yet it is still limited to 7 transactions per second.

Picture a Snoop Dogg album going on sale for Bitcoin.  Day one, a million people try to buy it.  Each of them necessarily makes at least one transaction.  Most of them make at least two transactions because they have to buy Bitcoins first.   Two million transactions is about three times what our blockchain can handle per 24 hours, and that's even if miners start making 1M blocks instead of 250K blocks.  Which they won't do, because it isn't profitable.  

Meanwhile the network itself is melting under the strain as at least half a million people attempt to download the blockchain. 

Picture mainstream investors attempting to use Bitcoin as a financial network.  Same thing, EVERY day.  The Bitcoin network melts under the pressure, and we are all left holding the bag.  

[mtnminer]

Actually this is why ASIC rigs are important and the future of Bitcoin, we ASIC miners will continue to increase our capacity and speed making larger volumes of transactions reasonable.

This load issues is what makes the ASIC Bitcoin network viable of script currencies.

Mtnminer

This is bad.  

I mean, it would be good news if the Bitcoin network could handle it, but as of yet it is still limited to 7 transactions per second.

Picture a Snoop Dogg album going on sale for Bitcoin.  Day one, a million people try to buy it.  Each of them necessarily makes at least one transaction.  Most of them make at least two transactions because they have to buy Bitcoins first.   Two million transactions is about three times what our blockchain can handle per 24 hours, and that's even if miners start making 1M blocks instead of 250K blocks.  Which they won't do, because it isn't profitable.  

Meanwhile the network itself is melting under the strain as at least half a million people attempt to download the blockchain. 

Picture mainstream investors attempting to use Bitcoin as a financial network.  Same thing, EVERY day.  The Bitcoin network melts under the pressure, and we are all left holding the bag.  

[Cryddit]

Wrong.

ASIC miners are not able to process more transactions.  They are only able to make more hashes.  There is a huge difference. 

[Carlton Banks]

This is bad.  

I mean, it would be good news if the Bitcoin network could handle it, but as of yet it is still limited to 7 transactions per second.

Picture a Snoop Dogg album going on sale for Bitcoin.  Day one, a million people try to buy it.  Each of them necessarily makes at least one transaction.  Most of them make at least two transactions because they have to buy Bitcoins first.   Two million transactions is about three times what our blockchain can handle per 24 hours, and that's even if miners start making 1M blocks instead of 250K blocks.  Which they won't do, because it isn't profitable.  

Meanwhile the network itself is melting under the strain as at least half a million people attempt to download the blockchain. 

Picture mainstream investors attempting to use Bitcoin as a financial network.  Same thing, EVERY day.  The Bitcoin network melts under the pressure, and we are all left holding the bag.  

Well, I'm not sure if buying albums, particularly Snoop Dogg albums, is so popular these days. And it wouldn't actually be quite so terrible, some people would end up with bitcoins but no Snoop album. And it would accelerate the decision making process concerning the block-size limit, and in a way where the source of the surge in tx volume could be accounted for. And I suspect that a gentle rise in daily transaction volume will provoke the situation before Snoop gets his act together anyway. Even moving to 10 Mb blocks (already proposed as an interim solution) would buy some more time, and the miners wouldn't be so traumatised for disk space.

[empoweoqwj]

Great general explanation about bitcoin here:

https://multibit.org/faq.html

[dancingnancy]

My father is a private wealth planner.  Over the past couple months I have been hearing his clients calling into him and asking him about BTC.  Usually ends up with me getting on the phone with them and going over everything.  They for the most part have all been super positive when asking about BTC, but have some general questions and misconceptions.

My question is where is a good place to find the more technical info about bitcoin? 

That is the part that I really can't  obviously explain.  Most of these clients are engineers and business owners, so they are pretty much not "day 1" material types.  Anyway, the good part is that if clients are calling in and wondering to get in, there must just be tons of cash that isn't in BTC that will be very soon.  As soon as someone in the USA comes up with a legit exchange that doesn't suck is the time BTC will take off.  Just my opinion from some observations as of late.  There must be a large list of high net worth individuals that are in the same situation.

Has your father heard of this?

http://www.bitcointrust.co/

If they are accredited per the SEC rules a way to get them invested in Bitcoin and a way your father can earn something for helping them out.  Win win situation.   He can be the broker of record on a PENSCO IRA if they are using retirement funds which is a really popular option via Second Market.

Also has a nice little overly simplified presentation on why they should invest.  But should be perfect for the everyday person!

Ill show him this and take a look, thx

[skivrmt]

My father is a private wealth planner.  Over the past couple months I have been hearing his clients calling into him and asking him about BTC.  Usually ends up with me getting on the phone with them and going over everything.  They for the most part have all been super positive when asking about BTC, but have some general questions and misconceptions.

My question is where is a good place to find the more technical info about bitcoin? 

That is the part that I really can't  obviously explain.  Most of these clients are engineers and business owners, so they are pretty much not "day 1" material types.  Anyway, the good part is that if clients are calling in and wondering to get in, there must just be tons of cash that isn't in BTC that will be very soon.  As soon as someone in the USA comes up with a legit exchange that doesn't suck is the time BTC will take off.  Just my opinion from some observations as of late.  There must be a large list of high net worth individuals that are in the same situation.

Has your father heard of this?

http://www.bitcointrust.co/

If they are accredited per the SEC rules a way to get them invested in Bitcoin and a way your father can earn something for helping them out.  Win win situation.   He can be the broker of record on a PENSCO IRA if they are using retirement funds which is a really popular option via Second Market.

Also has a nice little overly simplified presentation on why they should invest.  But should be perfect for the everyday person!

Ill show him this and take a look, thx

And just as background, I do not work for or are affiliated with Second Market or Bitcoin trust.   I just think it's a really nice way for accredited investors to get there feet wet in the bitcoin market.

[cr1776]

My father is a private wealth planner.  Over the past couple months I have been hearing his clients calling into him and asking him about BTC.  Usually ends up with me getting on the phone with them and going over everything.  They for the most part have all been super positive when asking about BTC, but have some general questions and misconceptions.

My question is where is a good place to find the more technical info about bitcoin? 

That is the part that I really can't  obviously explain.  Most of these clients are engineers and business owners, so they are pretty much not "day 1" material types.  Anyway, the good part is that if clients are calling in and wondering to get in, there must just be tons of cash that isn't in BTC that will be very soon.  As soon as someone in the USA comes up with a legit exchange that doesn't suck is the time BTC will take off.  Just my opinion from some observations as of late.  There must be a large list of high net worth individuals that are in the same situation.

Has your father heard of this?

http://www.bitcointrust.co/

If they are accredited per the SEC rules a way to get them invested in Bitcoin and a way your father can earn something for helping them out.  Win win situation.   He can be the broker of record on a PENSCO IRA if they are using retirement funds which is a really popular option via Second Market.

Also has a nice little overly simplified presentation on why they should invest.  But should be perfect for the everyday person!

Ill show him this and take a look, thx

Fortress Investment Group (-$58 billion AUM) is reportedly launching a similar fund. Just FYI.

[skivrmt]

My father is a private wealth planner.  Over the past couple months I have been hearing his clients calling into him and asking him about BTC.  Usually ends up with me getting on the phone with them and going over everything.  They for the most part have all been super positive when asking about BTC, but have some general questions and misconceptions.

My question is where is a good place to find the more technical info about bitcoin? 

That is the part that I really can't  obviously explain.  Most of these clients are engineers and business owners, so they are pretty much not "day 1" material types.  Anyway, the good part is that if clients are calling in and wondering to get in, there must just be tons of cash that isn't in BTC that will be very soon.  As soon as someone in the USA comes up with a legit exchange that doesn't suck is the time BTC will take off.  Just my opinion from some observations as of late.  There must be a large list of high net worth individuals that are in the same situation.

Has your father heard of this?

http://www.bitcointrust.co/

If they are accredited per the SEC rules a way to get them invested in Bitcoin and a way your father can earn something for helping them out.  Win win situation.   He can be the broker of record on a PENSCO IRA if they are using retirement funds which is a really popular option via Second Market.

Also has a nice little overly simplified presentation on why they should invest.  But should be perfect for the everyday person!

Ill show him this and take a look, thx

Fortress Investment Group (-$58 billion AUM) is reportedly launching a similar fund. Just FYI.

http://www.coindesk.com/fortress-investment-group-launch-bitcoin-fund/

I think another great positive for Bitcoin for 2014.  The more big Wall Street money that flows into Bitcoin the better for everyone involved.  Becomes an a "real" investment vehicle for the mainstream public which then in turns attracts more users and buyers.

[luqash3]

Thanks for telling us about your dad who is consistently asked about bitcoins. For sure investors all around the world are curious to know about bitcoins as it has given huge return to those who held them previously. I would suggest everyone to keep on buying bitcoins to participate in a big ride upward. 

[empoweoqwj]

My father is a private wealth planner.  Over the past couple months I have been hearing his clients calling into him and asking him about BTC.  Usually ends up with me getting on the phone with them and going over everything.  They for the most part have all been super positive when asking about BTC, but have some general questions and misconceptions.

My question is where is a good place to find the more technical info about bitcoin? 

That is the part that I really can't  obviously explain.  Most of these clients are engineers and business owners, so they are pretty much not "day 1" material types.  Anyway, the good part is that if clients are calling in and wondering to get in, there must just be tons of cash that isn't in BTC that will be very soon.  As soon as someone in the USA comes up with a legit exchange that doesn't suck is the time BTC will take off.  Just my opinion from some observations as of late.  There must be a large list of high net worth individuals that are in the same situation.

Has your father heard of this?

http://www.bitcointrust.co/

If they are accredited per the SEC rules a way to get them invested in Bitcoin and a way your father can earn something for helping them out.  Win win situation.   He can be the broker of record on a PENSCO IRA if they are using retirement funds which is a really popular option via Second Market.

Also has a nice little overly simplified presentation on why they should invest.  But should be perfect for the everyday person!

Ill show him this and take a look, thx

Fortress Investment Group (-$58 billion AUM) is reportedly launching a similar fund. Just FYI.

I heard about Fortress as well. If that actually happens, buy your bitcoins in advance of the launch