11–20 of 102 posts
The reason for that is the death of Bitcoinica. Bitcoinica offered shorting, which stabilized prices at around $5. When Bitcoinica went out of business, the only way to make money on Bitcoin is to speculate its' price increase which will drive demand; which will drive its' price even more. That being said, it might be the right time to buy Bitcoins, and sell before the bubble bursts. However, for a more stable Bitcoi…
The last thing Bitcoin needs is another speculation craze based on its high value. If Bitcoin's value is growing, that's fine, let it keep growing naturally. Don't start publicizing it so it starts another speculation roller coaster, at least until the Bitcoin market is big enough to not be impacted much by speculation-based transactions.
I don't think it's going to hurt bitcoin, it's proven itself to withstand it and is here to stay.
I was a big opponent of bitcoin- still wouldn't use it for anything that matters- but there are some great use cases. With government bans on online gambling bitcoin could really take over(that market). And, of course, there is the illegal drug trade. When people say that "it's not backed by anything" all they need to do is fire up tor and take a peak at silkroad. It's backed by one of the most in-demand products eve…
And yeah, it's backed by the Silk Road :)
I was a big opponent of bitcoin- still wouldn't use it for anything that matters- but there are some great use cases. With government bans on online gambling bitcoin could really take over(that market). And, of course, there is the illegal drug trade. When people say that "it's not backed by anything" all they need to do is fire up tor and take a peak at silkroad. It's backed by one of the most in-demand products eve…
The best part about this is that neither the buyer nor the seller needs to have the slightest interest in BitCoin and it doesn't matter at all if the value of the currency is reasonable so long as it's reasonably stable. Even better, neither side needs to know the other's bank details, just a throw-away BitCoin account number. This isn't just an IMT-killer, it's a PayPal killer as well.
Assuming the BitCoin market is more or less efficient relative to currency markets, and assuming those transactions could be cleared within ~1 day, you could absolutely kill the international transfer market (known for high fees, long delays and shitty exchange rates).
they are way too cumbersome to buy, why invest in a currency that the average computer user can't figure out how to buy?
http://xoxohth.com/thread.php?thread_id=1985065&mc=34... they are way too cumbersome to buy, why invest in a currency that the average computer user can't figure out how to buy?
http://xoxohth.com/thread.php?thread_id=1985065&mc=34... they are way too cumbersome to buy, why invest in a currency that the average computer user can't figure out how to buy?
The transactional friction is a reason the market is small. If it's easier to transact and more people can do it, the supply/demand curves will push the price up in the future. Assuming demand is proportional to the size of the market.
http://xoxohth.com/thread.php?thread_id=1985065&mc=34... they are way too cumbersome to buy, why invest in a currency that the average computer user can't figure out how to buy?