Speculators should timestamp their prophecies

[Hyena]

It has come to my attention that often times people in this sub forums make all sorts of claims but later have trouble proving it. After all, online forums can be hacked and these statements could easily be altered. Even the trusted third parties (escrow services) can become corrupt.

What is then recommended is storing the statement into the very block chain itself so that the whole Bitcoin network starts guarding the integrity of a given message. Additionally, the timestamp attached to the message can then be used to securely verify the date and time when the statement was created.

During the past 4 weeks I have been involved in the development of http://CryptoGraffiti.info web service that allows to monitor the human readable messages stored into the block chain now and then. In addition, the service makes it easy to encode your own arbitrary message into Bitcoin addresses.

I created this topic here because I know personally that this issue has risen several times in this particular sub forum. The development thread is here: https://bitcointalk.org/index.php?topic=524877.0

Let me know what you think, and of course, with great power comes great responsibility. Please don't abuse this service. Alternative web service for viewing the block chain messages is here: http://bitcoinstrings.com/

[1714979144]

1714979144

[SeaofBTC]

And keep a log. I frequent stocktwits.com as well, and people make a lot of predictions. Most people are correct less than 50% of the time, but they only point out when they are correct, and they love to make a big to-do about it.

Generally anyone making a lot of "predictions" is probably risky to follow. It's almost always a bad idea to follow anyone's gut but your own. I post most of my thoughts on my website, since I manage a fund, which is a range of prices that I expect bitcoin to move between.

If you wind up following what other people say, you'll find yourself second-guessing your trade decisions. You're usually more confident if you made the choice yourself.

I like to frequent the speculation places mostly for news and information that I might have missed myself. I rarely take into account people's actual predictions.

[knightcoin]

Very good idea ...

[BitcoinBobbeh]

Irrelevant, just listen to MatTheCat.