51–60 of 134 posts
Somewhere buried on my hard drive I have a fraction of a bitcoin that people were giving out for free when bitcoin first came out to encourage adoption. I really need to find it, it's actually worth money now... ps. that pizza is now worth $3 Million
http://web.archive.org/web/20100703032414/http://freebitcoin...
5 free bitcoins for solving a captcha? Yes please!
Earlier quoted context omitted.
I live in a country that used to need that. The real reason for doing that is simply not having to write so many useless zeroes. The people who were calling for cutting zeroes were mostly banks having issues dealing with whatever hard-coded limit was on their systems. There was no expectation that cutting zeroes would actually improve anything at all. Though the situation was exactly the opposite of Bitcoin. Money wa…
It's becoming 'too valuable' in USD. There are other currencies, and the world does NOT in fact turn around US.
In this thread - people confusing up arrows with "good". (Rapid deflation is not a great thing for a currency in general)
Damn. Sometimes I can't believe it. I have been following bitcoin quite closely for over 18 months now. The ecosystem is growing in ways only a few bold people have predicted. Fundamentally, it is about belief and trust. The protocol has largely proven itself. People are starting to believe in bitcoin. This is why the price is going up. For those who say "It isn't being used as a currency!" here is my response: Bitco…
i wish bitcoin's equating with gold is going to last - but i believe that because bitcoin's uncontrollability (from the banker's point of view), it will be stamped out as soon as it threatens fiat currencies as the dominant means of transfer.
where do you personally buy/sell BTC ?
Earlier quoted context omitted.
i wish bitcoin's equating with gold is going to last - but i believe that because bitcoin's uncontrollability (from the banker's point of view), it will be stamped out as soon as it threatens fiat currencies as the dominant means of transfer.
Stamping out a global, decentralized currency with mass adoption won't be easy. Even if bitcoin will be legal in 10% of countries it would be enought to bridge bitcoin-fiat exchanges.
Especially if trading would just move to Tor-like channels if this happens.
I find bitcoin really interesting, love the idea of a cryptocurrency, and also find the idea of a deflationary currency interesting. I've no argument with that side of it. Obviously there are issues with things like exchanges which seem to be almost entirely run by amateurs who think that a VPS or leased server is secure enough for financial transactions, but those problems could go away in time, they are not inherent to the currency, though they're another reason to be cautious at present.
However there are a few issues with the use of the currency which can't easily be fixed. What I find more troubling is the commitment to anonymity and lack of accountability from the creators - it is designed to allow anonymous transactions, and the users seem to be resistant to regulation. Those two things mean people can engage in bitcoin theft, fraud, laundering, cornering the market, setting up bogus or insecure exchanges/banks, with impunity and anonymity. Without proper regulation, insurance, compensation, which means identification of users and verification of transactions and everything that goes with that, I can't see bitcoin spreading beyond enthusiasts.
I wouldn't use it for anything important because of the lack of regulation and controls, but do think it represents something of the future of currencies, after our latest experiment in hyper-inflationary fiat runs its course (see Fiat Money Inflation in France for a previous experiment). It'll be interesting to see if other cryptocurrencies are born which take a different direction and attempt to build in accountability and responsibility to secure transactions and allow them to be policed effectively by tying them to real world identity. Anyone know of any?
If I had money in bitcoin I'd find this movement terrifying. It is not correlated with broader economic movements or the inflation rate of USD, and has all the classic hallmarks of a bubble, including true believers telling everyone it is different this time, increasingly wild oscillations, and exponential growth. I find bitcoin really interesting, love the idea of a cryptocurrency, and also find the idea of a deflat…
[1] http://unqualified-reservations.blogspot.com/2013/04/bitcoin...
Damn. Sometimes I can't believe it. I have been following bitcoin quite closely for over 18 months now. The ecosystem is growing in ways only a few bold people have predicted. Fundamentally, it is about belief and trust. The protocol has largely proven itself. People are starting to believe in bitcoin. This is why the price is going up. For those who say "It isn't being used as a currency!" here is my response: Bitco…
When Silkroad went down I expected bitcoin to take quite a slump but what has happened is contrary. I am not implying that anonymous transaction s for illegal use are the only thing bitcoins are good for but its my guess that it forms a major part of the group that actually use bitcoins for buying stuff. I am not sure why would anyone would get troubled in buying bitcoins for purchasing rather than punching a CC numb…
Most of the people of the world can't really have a bank account, let alone be eligible for a credit (card). With Bitcoin you only need internet access. Most of the people of the world can't really save either. Cash loses value over time, gold is hard to validate and keep safe, and is even banned in lots of places. Bitcoin to the rescue! Now everyone can start saving, and even be rewarded for that. I could go on all…
Yeah cause internet access and a modern computer are waaaaay more common than bank accounts or prepaid credit cards....