Gold collapsing. Bitcoin UP.

[cypherdoc]

"The fact that you have 51 countries (represented at the conference) and all of them have something positive to say about developments in their countries—maybe this helped show that bitcoin is bigger than just the U.S., China and England," said Micky Malka, a general partner at venture capital firm Ribbit Capital and a board member of conference host Bitcoin Foundation."

http://www.cnbc.com/id/101728070

[cypherdoc]

someone need an new avatar?

[Melbustus]

This would be my avatar if theymos ever fixes the avatar-change security issue:



But yeah, that Draper pic is hilarious.

[Adrian-x]

Draper taking the bitcoin overseas sends a dual message.

1. More opportunity away from the US
2. he keeps them outside the jurisdiction of the US All gov't

FTFU

[cypherdoc]

Draper taking the bitcoin overseas sends a dual message.

1. More opportunity away from the US
2. he keeps them outside the jurisdiction of the US All gov't

FTFU

well, his new business has to land some place.

hopefully somewhere that lays hands off.

[cypherdoc]

"Russia Softens Stance on Bitcoin"

http://online.wsj.com/articles/russia-softens-stance-on-bitcoin-1404305139

i once said that gov't and CB's will be just as schizophrenic as day traders around here when it comes to Bitcoin.  they just don't know what to do...

[Melbustus]

"Russia Softens Stance on Bitcoin"

http://online.wsj.com/articles/russia-softens-stance-on-bitcoin-1404305139

i once said that gov't and CB's will be just as schizophrenic as day traders around here when it comes to Bitcoin.  they just don't know what to do...

Part of me wants the world's most oppressive regimes to be steadfastly anti-bitcoin. That'd potentially generate more "invest in what China bans, because it bans the most powerful stuff" mentality (FB, Google, Twitter, open internet, etc).

[justusranvier]

I remember when Slashdot used to be cool.

Now it's nothing buy paid marketers and shills spewing venom and misdirection in the comment sections:

http://news.slashdot.org/story/14/07/02/1546224/investor-tim-draper-announces-he-won-silk-road-bitcoin-auction

[cypherdoc]

the divergence carnage continues:

[cypherdoc]

[Melbustus]

I remember when Slashdot used to be cool.

Now it's nothing buy paid marketers and shills spewing venom and misdirection in the comment sections:

http://news.slashdot.org/story/14/07/02/1546224/investor-tim-draper-announces-he-won-silk-road-bitcoin-auction

I noticed that in 2004ish. I was an avid slashdotter in the late 90s/early00s, but then the comments on some article about online-poker in '04 just pissed me off enough that I abandoned the site for about 7 years.

Things obviously didn't get any better, but I still have a soft spot for Slashdot for two reasons:
1) What it was in the 90s.
2) The bitcoin dollar-parity mention on Slashdot was when I first heard about bitcoin.

[Melbustus]

I think there'll be <=4 alts that have value >= (BTC / 100), and zero with value > (BTC / 10), but yeah, that pic sums up the overall idea nicely

[cypherdoc]

I think there'll be <=4 alts that have value >= (BTC / 100), and zero with value > (BTC / 10), but yeah, that pic sums up the overall idea nicely

without downloading a pic onto your pc, how do you get a photo into Twitter?  any way to link a location?

[kehtolo]

can you link to imgur? similar to you do here, just use the url instead of bbcode.. i dunno, haven't tried, but i'd guess it'S this way

[cypherdoc]

Noam Chomsky, Institute Professor emeritus in the Department of Linguistics and Philosophy at Massachusetts Institute of Technology.

http://www.nakedcapitalism.com/2014/07/noam-chomsky-americas-real-foreign-policy-corporate-protection-racket.html

[thezerg]

I think there'll be <=4 alts that have value >= (BTC / 100), and zero with value > (BTC / 10), but yeah, that pic sums up the overall idea nicely

Alts will exist if there is mutually exclusive functionality.  If we imagine Bitcoin fundamental protocol dev is essentially frozen at this point due to the fact that it is carrying so much value, then I see 2 more coins:

Anon-coin: XMR?
micro-coin: TBD, for lots of fast small payments.

micro-coin != anon-coin because certain required features seem mutually exclusive.  For example, micro-coin is most effective with a database-style current-value ledger (as opposed to bitcoin's history based ledger) with few addresses per person -- tiny payments go to the same address to reduce the "UTXO" set and aggregation makes spending efficient.  But this feature "leaks" information (I may not know who owns account X, but I know that one person received payments from A,B,C,D...) so is not appropriate for an Anon-coin.

[Melbustus]

I think there'll be <=4 alts that have value >= (BTC / 100), and zero with value > (BTC / 10), but yeah, that pic sums up the overall idea nicely

Alts will exist if there is mutually exclusive functionality.  If we imagine Bitcoin fundamental protocol dev is essentially frozen at this point due to the fact that it is carrying so much value, then I see 2 more coins:

Agreed. I still think my market-cap and number-of-successful-alts estimates probably hold. There's only so much mutually-exclusive functionality to go around without another decades-in-the-making breakthrough in computer science.


On the topic of alts that should die... Hey Goat - if that 50k LTC dump yesterday wasn't you, can you please come and drop a few of those? Might as well put LTC out of its misery sooner rather than later.

[Melbustus]

This is probably some of most bullish news of the past few months:

Before we get into the where, let’s detail the news: Overstock plans to offer its vendors discounts and terms that will encourage them to start taking bitcoin, or reward ones that already do, and offer to pay its employees in bitcoin as well, Mr. Byrne said.

“We’re going to start giving sort of special deals to the vendors who want to be paid in bitcoin,” he said during a podcast interview. That might include paying vendors a week early, he said. “It’s all about building. If we can get employees taking it, and vendors taking it, and customers paying for it, then it all becomes a virtuous circle.”

http://blogs.wsj.com/moneybeat/2014/07/02/bitbeat-overstock-boosts-commitment-to-bitcoin-draper-holding-presser/


Edit: http://panichodl.com/

[Ivanhoe]

If bitcoin overtakes gold when bitcoin is at 1337, that would be so epic. It's not very unrealistic.

[rocks]

This is probably some of most bullish news of the past few months:

Before we get into the where, let’s detail the news: Overstock plans to offer its vendors discounts and terms that will encourage them to start taking bitcoin, or reward ones that already do, and offer to pay its employees in bitcoin as well, Mr. Byrne said.

“We’re going to start giving sort of special deals to the vendors who want to be paid in bitcoin,” he said during a podcast interview. That might include paying vendors a week early, he said. “It’s all about building. If we can get employees taking it, and vendors taking it, and customers paying for it, then it all becomes a virtuous circle.”

http://blogs.wsj.com/moneybeat/2014/07/02/bitbeat-overstock-boosts-commitment-to-bitcoin-draper-holding-presser/


Edit: http://panichodl.com/

I am really starting to love this guy. It's rare for me to feel compelled to purchase from a given firm for personal/political reasons, but Byrne is so in sync with the full vision of Bitcoin that Overstock has become a standard site for me to check before making purchases. They don't usually have what I need, but if they do it's a guaranteed sale for them.