131–140 of 260 posts
I find it ironic that if MMM is having an impact on the price, that irrational actors (people buying into MMM) are inflating the price of Bitcoin (mainly promoted by libertarians). Anyway, the up swing is impressive now and can't be dismissed as normal volatilty: https://bitcoinwisdom.com/markets/bitfinex/btcusd There will be a big drop at some point, no one really wants to sell when it's rising like this. This sort…
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Don't discount how much nefarious actions can drive bitcoin prices. Much of the $1000 bubble is discussed in terms of mtgox and "willie", but the initial peak was triggered by another driver which was the first large wave of cryptolocker infections. It goes without saying I'd stay well clear of bitcoin still though.
> Much of the $1000 bubble is discussed in terms of mtgox and "willie", but the initial peak was triggered by another driver which was the first large wave of cryptolocker infections. I've not read that before (and I was pretty active on bitcoinforums during the $1000 bubble). Got a link?
https://www.google.com/trends/explore#q=cryptolocker
Looks remarkably like the bitcoin price graph doesn't it?
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I recommend https://electrum.org , even though the website doesn't look super awesome. You'll get a "seed" that generates your keys that is 12 words long. It looks something like this: "help staple correct horse ..." From there, just store that seed somewhere secure and you can use that to generate your keys whenever you want, on any machine you want. Personally I keep my seed in two different safe-deposit boxes and…
Electrum is great, but not very easy to use (since it's desktop). Get Electrum, Mycelium or Breadwallet, depending on your platform. I've heard good things about GreenAddress, and I recommend a ledger hardware wallet. You can use the ledger with Electrum and Mycelium, so you can spend coins from desktop or mobile. I've also imported my Mycelium wallet onto my second ledger, just so I can move coins from the desktop.
The Bitcoin dream of it being accepted by banks and replacing fiat currency will never come true, especially since financial institutions are focusing on blockchain technology as opposed to Bitcoin. This recent price increase will possibly be viewed as a dead cat bounce.
What people like you who raise this argument forget is that the success of a blockchain is intertwined with the success of whatever currency/reward is granted to the miners who make the blockchain work. So if Bitcoin's blockchain is adopted by banks, then Bitcoin the currency will succeed. And if banks adopt another blockchain, then the currency of that blockchain will succeed. It is literally impossible to have a fu…
The China factor behind this "surge" is because this https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company) started doing business in China. It's growing very huge.
I'm a bit confused, the Wikipedia link says it was shut down in 1997 and makes no mention of bitcoin. Is it the same company or is MMM now being used as a generic term?
Price surge is in direct correlation with Winklevoss "Gemini" exchange going online on October 8th. https://gemini.com/ This chart shows the price surge starting the exact same day Gemini went online: http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm... I really hope this is genuine growth, but I have a sneaking suspicion it could be partially due to market manipulation by Gemini. The Winklevoss twins have…
Volume on Gemini is miniscule, less than 1% of the chinese exchanges.
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I sense unwarranted criticism here – it's not like the ups and downs of BitCoin are going to affect a major economy any time soon (or ever). It's more a good thing there's this new game speculators can play; even if someone games the system, it isn't going to affect anything of value (e.g. a company producing something of value). It's not like BitCoin is ever going to be a major currency, or a real currency, really.…
Btc is as real a currency as it gets, I bought VPSs with it just like I have bought them by unsafer payment methods in the past (supplying credit card info). Although more common in the trading of digital commodities, you can buy physical goods such as clothes and pizza with it, depending where you live. It just doesn't enjoy widespread adoption outside the digital world yet.
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I do as well. What's wrong with leaving it there?
In general nothing. In specific there is no FDIC for bitcoins so if a MtGox type situation happens then you have no coins.
So for a speculative trader, I dont e that holding keys if any more essential than physically holding goods is for physical commodities; you obviously have to account for trust/security of the entity serving as your agent/broker, but that's typical.
Now, holding the keys may be essential to realizing some of the benefits of bitcoin which drive is value to some users, but for people investing in bitcoin, that may be peripheral to the purpose.
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Interesting point. I have some BTC at Coinbase. Not sure how I proceed to own the keys?
I do as well. What's wrong with leaving it there?
For anyone that has been around BTC for long enough, this is expected, but also expect more rallies and more crashes. Quick plug: If you are looking for a secure wallet with good privacy for your fresh Bitcoin, Try [Coinkite Multisig]( https://coinkite.com/multisig ), up to m-of-15, any/all keys can be generated offline, option to escrow backup, notifications, multi-user-multisig, support, notifications, works well w…
Why was this expected? Care to explain to someone who isn't around BTC?
[1] https://www.cryptocoinsnews.com/wp-content/uploads/2014/07/P...
