Bitcoin hits $10,000

Post by [deleted] » Wed, Nov 29, 2017, 2:30 AM UTC

wslh wrote: post #109

0bsidian wrote: post #81

Earlier quoted context omitted.

Let me try to make the case for why Bitcoin could be a useful beyond greed. I can't really think of many reasons why you would use crypto to pay for a coffee or a sandwich if you live in the West (or frankly, even most developing nations). On the other hand, I can definitely see the utility in a censorship-resistant digital medium to store wealth. To me, this latter use case has much, much more potential to serve the…

> I can't really think of many reasons why you would use crypto to pay for a coffee or a sandwich if you live in the West (or frankly, even most developing nations). Until recently that was one of the main utilities of Bitcoin and the mainstream community changed the discourse to "reserve of value". BitPay, Coinbase, Xapo et al were created with the idea of transactions. This is just one of many observations about ho…

Post by freeloop3 » Wed, Nov 29, 2017, 2:32 AM UTC

Torn wrote: post #70

wallace_f wrote: post #50

Earlier quoted context omitted.

Why would Satoshi's life be at risk?

It's theorised they have ~1m bitcoins, at 10k each that's a 10 billion net-worth. Presumably that's enough for people to want to hunt them down and coerce them into giving up private keys https://bitslog.wordpress.com/2013/04/17/the-well-deserved-f...

Post by zzxxddere333 » Wed, Nov 29, 2017, 2:32 AM UTC

fullshark wrote: post #61

wintom wrote: post #17

“Rosenstreich at online trading firm Swissquote said bitcoin’s surge harks to the surprises of the U.K. referendum on European Union membership and President Trump’s election. “We have underestimated the populist movements,” he said. “There is growing unease on how central banks and governments are managing fiat currencies. Ordinary people globally understand why a decentralized asset is the ultimate safe haven.”” Th…

This is nonsense. This is being driven by speculation / minuscule interest rates / greed. Very little of the demand for btc in the past year is due to lack of faith in institutions.

Post by bluetwo » Wed, Nov 29, 2017, 2:33 AM UTC

programmarchy wrote: post #116

bluetwo wrote: post #84

Earlier quoted context omitted.

Errrrr.... Bitcoin is a fiat currency, so be careful with your generalization. And whose job is it to investigate bitcoin fraud and theft? No one.

> Bitcoin is a fiat currency Please expand. Which state is forcing people to pay their taxes in Bitcoin, and/or authorizing it as legal tender?

Post by nl » Wed, Nov 29, 2017, 2:33 AM UTC

modeless wrote: post #85

Shank wrote: post #42

Earlier quoted context omitted.

The only problem is that Satoshi's coins are watched like a hawk. Satoshi can't liquidate any of them, or even really move them without causing an immediate reaction in the community. Exchanges might halt trading, whilst it would immediately give away his or her identity. If the price of bitcoin doesn't crash following a coin movement, Satoshi's life is most certainly at risk. If it does, then the coins are worth not…

Satoshi is almost certainly dead. No living person could resist the temptation to talk about their creation of a 100 billion dollar phenomenon. Two plausible candidates who died at about the right time are Hal Finney and Dave Kleiman.