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Earlier quoted context omitted.
. . . but the quantity of all crypto-currencies is unlimited.
There will only ever be 21 million bitcoins. I recommend giving http://en.wikipedia.org/wiki/Bitcoin a read.
US default now-or-later squabble certainly fueled bitcoin. It is becoming de-facto plan B for big players.
Thats not my area, but i would like to know if BC could get more attractive than gold in a fallout economy scenario?
Earlier quoted context omitted.
There will only ever be 21 million bitcoins. I recommend giving http://en.wikipedia.org/wiki/Bitcoin a read.
Nothing stops anyone from making their own personal variant of Bitcoin, however. Or 10 of those variants. Or a million. In other words, the limit applies only within a single system, and there is no limit on the number of such systems.
Earlier quoted context omitted.
On a related note, ever heard of the bubble theory of money? The theory goes, that good money is essentially a bubble that can't be popped easily. People compare Bitcoin to the tulip mania, but that is a wrong analogy, given that tulips can be cultivated by anyone to any degree -- whereas Bitcoins are capped by design.
. . . but the quantity of all crypto-currencies is unlimited.
Litecoin is good for getting in and out of Bitcoin w/o staying in cash, when you suspect sudden movements in Bitcoin.
Remember Ripple? Mindshare keeps falling on that one.
If anything to like about Bitcoin is that it has proved that almost everyone else is wrong. * SilkRoad shutting down? Bitcoin is doomed. * Mt.gox is not paying in time or at all? Bitcoin doesn't work. * Asics? There will be a flood of new coins. And yet Bitcoin value continue to raise. If history repeats itself, we should see 1 Bitcoin levels at around $2,000. I think Bitcoin is an interesting phenomena to watch. Bei…
the rate of production is fixed, so no one would have predicted that.
asic would increase the difficulty level significantly though.
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The fact that small number of people use it. They will be not a real alternative unless they have some better features than Bitcoin itself.
PPC has better features than BTC, but people haven't heard of it yet[1]. That said, BTC may win by being "good enough" and having a strong network effect. [1] http://www.ppcoin.org/static/ppcoin-paper.pdf
The fact that the Gox gap is closing makes me suspect that a lot of this rise is coming from new money. I'm guessing few new Bitcoin purchasers are buying through Mt. Gox, which is driving the price up on other exchanges, and closing the gap due to Gox's illiquidity.
Check the exchange volume distribution chart: http://bitcoincharts.com/charts/volumepie/ Looks like Mt. Gox no longer has such a huge share of the market. Bitstamp is almost even with them.
If anything to like about Bitcoin is that it has proved that almost everyone else is wrong. * SilkRoad shutting down? Bitcoin is doomed. * Mt.gox is not paying in time or at all? Bitcoin doesn't work. * Asics? There will be a flood of new coins. And yet Bitcoin value continue to raise. If history repeats itself, we should see 1 Bitcoin levels at around $2,000. I think Bitcoin is an interesting phenomena to watch. Bei…
> Asics? There will be a flood of new coins.* the rate of production is fixed, so no one would have predicted that. asic would increase the difficulty level significantly though.
The fact that the Gox gap is closing makes me suspect that a lot of this rise is coming from new money. I'm guessing few new Bitcoin purchasers are buying through Mt. Gox, which is driving the price up on other exchanges, and closing the gap due to Gox's illiquidity.
39% mtgox
23% bitstamp
17% btcchina
33% btcchina
25% bitstamp
23% mtgox
http://bitcoinmagazine.com/7615/bitcoin-breaks-1000-cny-rall...