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happiegrrrl
Trad climber
www.climbaddictdesigns.com
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Nov 28, 2013 - 09:33pm PT
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There will be another enterprise that deflates Bitcoin's bubble, and probably within the next year.
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High Fructose Corn Spirit
Gym climber
Potemkin Village
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Nov 28, 2013 - 09:34pm PT
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You seem pretty sure of yourself, Debbie. ;)
.....
There will be another enterprise that deflates Bitcoin's bubble, and probably within the next year.
So we'll track it together then, I know I'll stay tuned, should be fun!!
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happiegrrrl
Trad climber
www.climbaddictdesigns.com
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Nov 28, 2013 - 10:06pm PT
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I keep a little bit of an eye on tech and entrepreneurial news. This topic has been written about - no crystal ball needed.
And who's Debbie??
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FRUMY
Trad climber
Bishop,CA
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Nov 29, 2013 - 07:04pm PT
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There is a sucker born every second.
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Jon Beck
Trad climber
Oceanside
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Nov 29, 2013 - 10:01pm PT
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Some anonymous person somewhere (the inventor of bit coin) has the key necessary to steal as much bit coin as they please. That would not make me feel too comfortable loading up on bit coin, unless I needed a bunch of machine guns and a pound of heroin.
The story about the tossed 7.5 million is hilarious.
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sempervirens
climber
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but as Francois Velde, an economist at the Federal Reserve Bank of Chicago, recently observed, "it is hard to imagine a world where the main currency is based on an extremely complex code understood by only a few ... without accountability, arbitration, or recourse."
Isn't that a description of the Federal Reserve itself?
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High Fructose Corn Spirit
Gym climber
Potemkin Village
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Some say that's the way of it, lol!
The market's been extremely volatile today. Elvis leg!
Bitcoin should be back in the news tomorrow.
http://bitcoinity.org/markets
.....
unless you run all over the internet screaming “HEY EVERYBODY, I’M JOE SMITH AND THIS IS MY BITCOIN ADDRESS!” it’s basically impossible to figure out who owns an address.
Another important aspect of Bitcoin is that it was intentionally designed to be cash-like... the two biggest: cutting out the middle-man and irreversible transactions.
http://codinginmysleep.com/bitcoin-in-plain-english/
...credit card processing has invented a new method that really hurts merchants: the charge dispute.
So we should see strong robust lobbying efforts then by banks, VISA, etc.. against Bitcoin.
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adatesman
climber
philadelphia, pa
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A main question I have right now is what keeps another enterprise from starting up on the same virtual currency model?
Nothing, which is why there are quite a few similar cryptocurrencies. Bitcoin is by far the largest, but also the first. Time will tell how it will shake out and how bad hacking/theft becomes with no sovereign backing of the currency.
http://en.m.wikipedia.org/wiki/List_of_cryptocurrencies
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adatesman
climber
philadelphia, pa
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By the way, HFCS- dunno if you'd be interested in the coin mining side of it, but a friend of mine mentioned that he's been mining litecoin on his gaming rig and netting ~$8 per day once electricity cost is factored in (he already had a video card suited to this sort of thing... AMD HD7970). His plan is to convert the litecoins to bitcoins since they're easier to cash out. Or something like that.... My eyes glazed over pretty quick.
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SteveW
Trad climber
The state of confusion
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I read in today's Denver Post that some guy bought a Tesla auto with
BC this week. . .
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High Fructose Corn Spirit
Gym climber
Potemkin Village
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adatie, interesting list there, thanks. Just one thing that strikes me are the names. Bitcoin (like Google and Maximus, lol!) is a great name. All other things being equal a name (brand) can spell the difference.
The mining side is interesting, in the last few weeks I've become more familiar with it. Damn, I only wish I had but one more life to give to all the great things going on the world these days, you know? Hey, you seem to be paying attention to the bitcoin universe, are you participating?
For 91.4 Btc. (Imagine having acquired them bitd for 5 dollar/piece.)
http://money.cnn.com/2013/12/06/autos/tesla-bitcoin/
Curious if anyone here at the ST Crag has a wallet, if so post up, I'd like to tip you a cup of coffee (hot!) this chilly - no scratch that, this everything-frozen-stiff morning - in btc - for reading this post, ha ha.
Also watch here for a great deal coming up on surplus climbing gear. Looking forward to transacting some in digital to add my support, maybe YOU could make out like The Dread Pirate Roberts! ;)
C'mac, (you think he ever reads these OT posts?) where is your bitcoin address? I looked for it on the forum first page and site first page to donate in digital currency this morning, again to add my support to the digital currency universe. Check into it sometime when you're not climbing or flying. Happy birthday, too! :)
PS
Like this...
1K9o6Kz4QxS62TC1pzVi25n7XcP7D6Bizv
(Feel free anyone to tip me a cup of coffee this cold morn for posting such a hot pic, lol!)
http://codinginmysleep.com/bitcoin-mining-in-plain-english/
"This de-centralization aspect of Bitcoin is just as important as the encryption. Everyone has a copy of the transaction database, everyone verifies that transactions are valid and everyone holds a copy of all the rules. This means that we don’t need a bank because we’re all the bank. We’re not reliant on any company that can fail or become “too big to fail” nor any government or party that can rise or fall. As long as there is a functional internet and two or more people running a copy of the Bitcoin software, Bitcoin will still exist – it’s that hard to shut down. Since we’re all the bank, this also means that no central authority gets to decide who can transact business with whom. Remember a while back when Visa and MasterCard cut WikiLeaks’ ability to accept donations, but the KKK got to keep raking in the racism money? That can’t happen with Bitcoin."
http://codinginmysleep.com/bitcoin-in-plain-english/
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Reilly
Mountain climber
The Other Monrovia- CA
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Feb 25, 2014 - 11:36am PT
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Bitcoins are the new penny stocks. Can't wait to see "Wolf of Wall Street II"
although rumour has it that it is to be called "The Bitchcoin of Wall Street".
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Jon Beck
Trad climber
Oceanside
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Feb 25, 2014 - 12:03pm PT
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Hate to say "I told you so", but . . . . .
yeah, the price will come back up because a man has just got to buy his heroin
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High Fructose Corn Spirit
Gym climber
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Feb 25, 2014 - 03:04pm PT
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Keep in mind, Mt Gox was just one of several prominent exchanges.
It seems to me, Bitcoin is showing remarkable resilience as e-currency. Today's market value (eg. at bitstamp) is still up more than 10 fold over this time last year.
http://bitcoinity.org/markets/bitstamp/USD
http://www.coindesk.com/price/
As you know, anytime there's something this groundbreaking it's likely to have its bugs, beta versions and disparagers.
Don't be such a gloomy gus.
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Reilly
Mountain climber
The Other Monrovia- CA
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Feb 25, 2014 - 03:06pm PT
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So what kind of even semi-legit 'currency' varies ten fold in a year?
What a scam.
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High Fructose Corn Spirit
Gym climber
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Feb 25, 2014 - 03:12pm PT
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What a scam.
It's a start up, gloomy gus.
So one should go into it expecting it to have its speculative side (or commodity side) in addition to its currency side.
If you don't like the speculative side of it, then by buying and selling quickly you can avoid it.
Whether Bitcoin survives or not, the technology behind it is here to stay, it seems to me. I've been following along since learning of it, I think it's pretty cool and it has a lot of very smart people interested in the mechanics of it.
You see it as a scam, others see it as an innovation.
Here, just for you gloomy...
http://www.coindesk.com/cash-invented-seen-media-today/
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