171–180 of 209 posts
So is there a good exchange for UK people that doesn't require ridiculous amounts of identification like mt.gox?
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Rock solid? A system that requires vast and increasing amounts of the world's energy to be devoted to it just to achieve a vague notion of security? A system that can be attacked in polynomial time (but let's just say that is not a problem; after all, we never defined security in a way to preclude such things!)? That is your definition of "rock solid?"
>requires vast and increasing amounts of the world's energy "Vast" is hyperbole, IMHO. It might in fact on net conserve energy, by, e.g., reducing the need to haul cash around in armored vehicles and the need for things like bank buildings. It takes a lot of energy to build and operate buildings.
For once my general laziness looks like it is paying off. Mined a couple bitcoins years and years ago, and was too lazy to sell them at the time.
I came here to bitch that the inflated MtGox price doesn't count... Then I realized that is the non-MtGox price... So it's officially a bubble? sigh
How does this prove it is a bubble? If anything, isn't this evidence for the opposite? I expected the price to drop dramatically after the Silk Road shutdown.
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I'm not sure we've waiting long enough for Shiller to be proved correct. If monetary policy wasn't blowing the roof out on equity valuations, we'd be seeing mean-reversion as we should.
Can you elaborate on his prediction?
I'm afraid that when bitcoin becomes more mainstream there is going to be serious amounts of fraud and scamming.
Bitcoin can be seen as a sort of digital gold. Credit cards / Paypal / etc. could work exactly the same but be backed by Bitcoins instead of USD. See http://undergroundeconomist.com/post/36076277512
What about that guy that spent all his money on bitcoins? Is he rich now? Any news about that guy?
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> And yet Bitcoin value continue to raise. If history repeats itself, we should see 1 Bitcoin levels at around $2,000. It's 2007 I have a house I bought for $300,000 which is now worth $600,000, would you like to buy my house and in two years you will make another $600,000? If there's one thing about real estate in the last 10 years it's that it's proven all those naysayers like Shiller wrong.
What strange times we live in where a leisure boat can be talked about as investment!