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Mowcore (OP)
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February 25, 2014, 08:44:03 PM |
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[2014-02-25] BBC.co.uk - Bitcoin's life-or-death momenthttp://www.bbc.co.uk/news/business-26335547That title... >.< It has a comment section. 'cracks knuckles'
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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btbrae
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February 25, 2014, 09:02:02 PM |
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Don't worry, Britain will be the last major nation (not sure you can call it that anymore...) onboard, just like with everything else. Dinosaurs everywhere.
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hilariousandco
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February 25, 2014, 09:05:33 PM |
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However, Bitcoin probably represents the first seriously existential threat to conventional banks, burdened with their massive running costs, in living memory.
In theory, at least, Bitcoin is their Amazon. I like that part. Existential threat it could quite possibly be. Bitcoin also poses something of an issue for central banks like the Bank of England or US Federal Reserve, which appear to have no ability to influence the value of Bitcoins. So Bitcoin represents a challenge to their duties of monetary stewardship. Banks might not be able to influence it, but unfortunately FUDsters and panic sellers do. |
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notthematrix
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February 25, 2014, 09:18:56 PM |
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However, Bitcoin probably represents the first seriously existential threat to conventional banks, burdened with their massive running costs, in living memory.
In theory, at least, Bitcoin is their Amazon. I like that part. Existential threat it could quite possibly be. Bitcoin also poses something of an issue for central banks like the Bank of England or US Federal Reserve, which appear to have no ability to influence the value of Bitcoins. So Bitcoin represents a challenge to their duties of monetary stewardship. Banks might not be able to influence it, but unfortunately FUDsters and panic sellers do. every time when bitcoin is declared dead in rises again and again , it will spark intrest of people. |
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hilariousandco
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February 25, 2014, 09:24:12 PM |
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However, Bitcoin probably represents the first seriously existential threat to conventional banks, burdened with their massive running costs, in living memory.
In theory, at least, Bitcoin is their Amazon. I like that part. Existential threat it could quite possibly be. Bitcoin also poses something of an issue for central banks like the Bank of England or US Federal Reserve, which appear to have no ability to influence the value of Bitcoins. So Bitcoin represents a challenge to their duties of monetary stewardship. Banks might not be able to influence it, but unfortunately FUDsters and panic sellers do. every time when bitcoin is declared dead in rises again and again , it will spark intrest of people. It does have the amazing ability to bounce back, but I think if it just keeps on going through cycles of peaks and troughs it'll never take off as a mainstream currency. |
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Ripdon007
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February 25, 2014, 09:25:31 PM |
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loool leave it up to the bbc to come up with garbage |
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LiteCoinGuy
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February 25, 2014, 10:03:55 PM |
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in german newspapers we had similar headlines  |
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howardb
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February 26, 2014, 11:47:08 AM |
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Don't worry, Britain will be the last major nation (not sure you can call it that anymore...) onboard, just like with everything else. Dinosaurs everywhere.
You couldn't be more wrong. BTC activity is very high here. The establishment may be the last to catch on, but the entreprenuers are on the leading edge. However, it should be noted that UK probably has more to lose than any other nation if BTC becomes dominant, the proportion of Financial Services in our GDP is way more than most countries. |
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Bit_Happy
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February 26, 2014, 11:50:11 AM |
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If they are unable to develop any kind of governance system that provides confidence that Bitcoins are where they are supposed to be, then it will disintegrate into fringe territory for loons and wild-eyed monetary anarchists.
Yes!
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Lethn
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February 26, 2014, 11:51:32 AM |
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UK regulation is actually pretty Bitcoin friendly now, the tax situation is being declared as capital gains and I think they've declared Bitcoins as some sort of asset? You just need to pay capital gains tax here in the UK if you sell Bitcoins and then you're in the clear which is why I want to stay purely with Bitcoin if I can help it otherwise I'd be forced to pay much more income tax instead.
Also, I warned you all about the BBC ages ago, like other news organisations they disable comments pages whenever they feel people might say something opposite to what they want people to think about the story they've written, they know a lot of anti-Bitcoiners are going to rage on the comments page once they find it.
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hilariousandco
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February 26, 2014, 12:37:31 PM |
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Erm if you lot mean the decent-sized report on the BBC news on Tuesday night - this wasn't a 20 second brief mention of Bitcoin, it was a full report on the Gox situation, with the background being the official font for 'bitcoin' and the usual red bitcoin symbol, along with a backdrop of a bunch of Casascius coins.
Robert Peston - the BBC financial reporter, is usually very negative towards anything revolutionary. I was expecting a condescending put-down and 'told-you-so' about the recent panic selling caused by the Gox exchange.
However, ***by BBC standards*** this was FANTASTICALLY neutral and they made it clear that whilst Gox is failing, the other exchanges (quote) 'are operating as normal'.
A typical BBC report on Bitcoin would normally be full of FUD and misinformation.
This time??? No mention of Silk Road / etc. or black market uses of Bitcoin. No mention of money laundering.
The last few BBC articles have actually been pretty good on Bitcoin and have either been neutral or pretty positive explaining its benefits etc. |
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