MrPiggles
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Decentralized Ascending Auctions on Blockchain
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March 05, 2014, 03:50:54 PM |
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I doubt wall street will ever get involved because wall street has enough money to just turn around, create a bitcoin version where they are the early adopters, and push it on the masses.
There is zero interest in them making us stupidly rich, when they could do it themselves and for themselves.
Everything that bitcoin is great for, can be copied (has been copied multiple times)
Wall street can spend billions of dollars developing and marketing an alternative which will make them money, and they can integrate it with their own payment processing systems such as visa.
Besides, to the average person on the street bitcoin means anarchy, silkroad, scams and failed exchanges.
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sergio
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March 05, 2014, 03:51:28 PM |
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first of all the USA is not democratic it is plutocratic which is different. The average citizen is not allowed to own a Bank, a Casino, or any other juicy business that competes against the big guys the laws do not allow it, if the laws did allow it, it would be different you would see tons of tiny banks, and casinos regulated by market laws, and not politician laws.
As far as Wall street jumping in it will happen, but lets remember the sequence, at this stage Wall street is waiting to see who wins the war if the Central Banks or Bitcoin, once they see that Bitcoin won they will jump in, but each sequence takes about 2 years, so now it is a very good time to buy if you believe Bitcoin will win since when Wall Street jumps in the price will skyrocket.
phases: 1. years 2009,2010 Bitcoin is completely ignored by big media, Banks, and politicians. 2. 2011, 2012 Bitcoin is laugh and made fun of it at by the same group of people. 3. 2013,2014 War is declared against Bitcoin, war begins when Bitcoin hits 266 USD. 4. 2015 and up Bitcoin wins, and Wall Street jumps in, actually everyone jumps in, at such stage we will not be talking about Bitcoins anymore by we will we using the term Satoshi. Most likely this will happen by the end of 2015, my prediction over 20k USD per coin before 2016.
Bitcoin puts the money in the power of the people and it is a very good test for democracy, the least democratic countries will fight it the most, tax it the most, and regulate it the most, the most free countries will allow its free use.
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rausvi15
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March 05, 2014, 03:54:47 PM |
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Because BTC is not able to be printed or inflate.
good one
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tenthirtyone
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March 05, 2014, 03:57:53 PM |
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The US is not a democracy. Never was.
Actually, the US is exactly what a Democracy really is.
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Coins4life
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March 05, 2014, 03:58:20 PM |
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Strict financial regulation and fear of lawsuit are probably slowing down Bitcoin entrepreneurship in western world. This is particularly true for the US.
+1
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txbt
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March 05, 2014, 03:59:18 PM |
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The reason why the feds haven't bothered to regulate Bitcoin much in the USA, or completely ban it in other countries is because of it's price fluctuations, high transaction times, and high energy output to mine, which they know that after a while people will Move on to another more effiencet, more practical for daily use cryptocurrency . They know that in the future, a new cryptocurrency without all the flaws of Bitcoin will emerge, and WILL become mainstream which Bitcoin hasn't, still 5 years after it's release and never will become. Once that happens you can expect regulation no matter how "anonymous" you think it is.
I think the situation is a bit different than 5 years ago (even 1-2 years ago). Think only how many ATM’s are in service today and many more will be installed in the next few months - and this is only one example of many changes that are coming. The number and importance of merchants accepting Bitcoin is increasing continuously. We know that will be some gox like setbacks but ultimately those will probably make Bitcoin more stable and strong. It's possible that some Wall Street people already jumped in but didn't make it official.
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1WXXstjXvsfV1U2wSVwDACqqYrpK12W3g
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keithers
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This is the land of wolves now & you're not a wolf
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March 05, 2014, 04:30:09 PM |
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Wall Street has its fingers in SecondMarket if I understand correctly.
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runam0k
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Touchdown
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March 05, 2014, 04:54:17 PM |
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Wall Street has its fingers in SecondMarket if I understand correctly.
^ Indeed, very much looking forward to seeing what (and who) Second Market's member exchange brings to the table.
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CryptoPanda (OP)
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March 06, 2014, 08:08:18 AM |
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Strict financial regulation and fear of lawsuit are probably slowing down Bitcoin entrepreneurship in western world. This is particularly true for the US.
I believe that in communism the financial regulations and risk of lawsuits/jail/murder are quite bigger?
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marcus_of_augustus
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Eadem mutata resurgo
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March 06, 2014, 09:04:30 AM |
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Is it either because many of you are too naive, or too stupid to understand the nature of Bitcoin. It's an anonymous virtual currency that's quite impractical and instable. As shown just this month with Mt.Gox, it's price jumped what, 30% in one day? I love how many of you are so against regulation, but without regulation is when there's a real problem. Illegal drug trafficking sites such as Silk Road made millions off people buying drugs through Bitcoin. There needs/will be regulation of a cryptocurrency in the future. The reason why the feds haven't bothered to regulate Bitcoin much in the USA, or completely ban it in other countries is because of it's price fluctuations, high transaction times, and high energy output to mine, which they know that after a while people will Move on to another more effiencet, more practical for daily use cryptocurrency . They know that in the future, a new cryptocurrency without all the flaws of Bitcoin will emerge, and WILL become mainstream which Bitcoin hasn't, still 5 years after it's release and never will become. Once that happens you can expect regulation no matter how "anonymous" you think it is.
Just giving you all naive suckers a heads up.
Pce.
Wow ... who let this spouting, opinionated asshole in? This place is going to the dogs, fast.
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miragecash
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March 06, 2014, 09:29:34 AM |
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Strict financial regulation and fear of lawsuit are probably slowing down Bitcoin entrepreneurship in western world. This is particularly true for the US.
I believe that in communism the financial regulations and risk of lawsuits/jail/murder are quite bigger? That's exactly why bitcoin is more popular in China. Your bit coins are out of the control of government theft through jail/murder/lawsuits/regulations. As long as you control those private keys, those bitcoins are safe. Also, who says Wall Street is not on board bitcoins? Winklevosses are working on a bitcoin etf. Once the eft goes live, institutional investors will jump aboard.
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FelixOliver
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March 06, 2014, 11:08:35 AM |
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If 1 coin is about 5k-10k $$ maybe, but not before. Just not profitable enough.
Thats backward thinking... it doesn't matter what the value per coin is, because if some whale puts $10M on the market and it goes up 30% - thats still a 30% INCREASE on $10M infact, those wall street guys probably buy in at every dip and offload at the top again and again
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howardb
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March 06, 2014, 11:44:22 AM |
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Everything that bitcoin is great for, can be copied (has been copied multiple times)
Clearly you don't understand the internet concept of "First to critical mass wins". Although in theory bitcoin can be copied and improved on, the facts on the ground are that the majority by far of value is in the bitcoin network and the rapidly expanding retail network accepting bitcoin. Try nipping down to your high street and buy your aunts birthday present with quarks!!
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CryptoPanda (OP)
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March 06, 2014, 12:58:13 PM |
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Wall Street has its fingers in SecondMarket if I understand correctly.
When is that about to start?
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MrPiggles
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Decentralized Ascending Auctions on Blockchain
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March 06, 2014, 01:00:11 PM |
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Clearly you don't understand the internet concept of "First to critical mass wins". Although in theory bitcoin can be copied and improved on, the facts on the ground are that the majority by far of value is in the bitcoin network and the rapidly expanding retail network accepting bitcoin. Try nipping down to your high street and buy your aunts birthday present with quarks!!
Three words bro. Friends Reunited. Myspace.
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Nxtblg
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March 06, 2014, 01:51:27 PM |
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Clarified tax structure, a bit of friendliness from established banks, regulated and dependable exchange on home soil = Wall Street en masse.
This. Despite all that talking-point hot air about "deregulation," Wall Street is profoundly regulated. The standard informational bill of fare in the analyst community is 10Ks: documents that listed companies have to provide because the SEC will prosecute if they don't. Or, prosecute if there's a material untruth or omission and the company gets huffy or suspiciously delinquent about cleaning its act up. As for the regulations that impose registration and knowledge tests on brokers et. al, they are not seen as impediments. They're seen as another notch on the belt, like getting an Ivy-League MBA. Sure, there are angles like setting up a hedge fund, but the hedge-fund 'cowboys' depend upon the accredited-investor-only prohibition against investing in them. That prohibition keeps the hedge fund world pretty much an Ivy Leaguer exclusive club. Fact is, what's called 'deregulation' is just loosening at the margins. It's part of a regulatory arms race with regulators on one side and clever securities lawyers on the other. There's a well-established revolving door between the two, which means that there's an underlying sense of collegiality between the two. We know very well about one side of the collegiality: crony capitalism. But, the other side implies that Wall Streeters think of SEC regulators as a bunch of nice people who help a lot more than they hurt. Add to that the fact that the bulk of SEC prosecutions are small-time scam artists (wrt Wall Street's volume), then add natural human vanity, and you've got a psychological bias towards getting chummy with the SEC. "Of course we co-operate with the regulators. We're not scummy lowlife penny-stock con men." In fact, one of my hunches about why Madoff was never found out until he confessed was because the SEC fell into the mindset of "he's too big to be crooked." Too big to be crooked...that proved to be a helluva blind spot. Brass tacks: if financial services were really - completely - deregulated, the whole industry would be gutted.
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spazzdla
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March 06, 2014, 02:10:08 PM |
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If you have nothing nice to say don't say anything at all.
We need to use that thinking more on these forums.
Also, second market starting up an exhange.. HELLO
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coins101
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March 06, 2014, 03:07:07 PM |
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Wall St. invented pump n' dump.
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HorseCoin
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March 06, 2014, 04:03:24 PM |
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The US is not a democracy. Never was.
bull. SHIT
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howardb
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March 08, 2014, 04:54:10 PM |
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Clearly you don't understand the internet concept of "First to critical mass wins". Although in theory bitcoin can be copied and improved on, the facts on the ground are that the majority by far of value is in the bitcoin network and the rapidly expanding retail network accepting bitcoin. Try nipping down to your high street and buy your aunts birthday present with quarks!!
Three words bro. Friends Reunited. Myspace. Your thinking of applications! This is not just application, this is massive global mining infrastructure, retail store Point of Sale systems. Once established, retailers need a real good reason to change to something else, and Bitcoin is achieving that based on cost reduction. What's the winning argument for Bitcoin MK II?? Don't underestimate retail inertia, there is a reason we are still using bits of plastic 60 years after they were invented! I do not preclude the Litecoins of this world being part of the revolution, but their success will be dependant on their market liquidity, which is crucial for the likes of Bitpay to be able to freely exchange to fiat and thus offer as a parallel option on their POS systems.
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