Bitcoin value falls from above $33 to below $3
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Bitcoin value falls from above $33 to below $3
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Re: Bitcoin value falls from above $33 to below $3
#2Porn is to the Internet as selling drugs is to Bitcoin.
Re: Bitcoin value falls from above $33 to below $3
#3One of these things will happen: (1) A successful attack on Tor, (2) A successful attack on Bitcoin, (3) The Silk Road's (or similar site's) share of the black market will continue to grow rapidly.
Re: Bitcoin value falls from above $33 to below $3
#4Here was Jason Calacanis's take on May 15: "Bitcoin P2P Currency: The Most Dangerous Project We've Ever Seen" -- "We are 100% certain that governments will start banning bitcoins in the next 12 to 18 months. Additionally, we’re certain bitcoins will soar in value and a crush of folks will flood the system and start using them." http://www.launch.is/blog/l019-bitcoin-p2p-currency-the-most...
Re: Bitcoin value falls from above $33 to below $3
#5Here was Jason Calacanis's take on May 15: "Bitcoin P2P Currency: The Most Dangerous Project We've Ever Seen" -- "We are 100% certain that governments will start banning bitcoins in the next 12 to 18 months. Additionally, we’re certain bitcoins will soar in value and a crush of folks will flood the system and start using them." http://www.launch.is/blog/l019-bitcoin-p2p-currency-the-most...
Who gives a shit what some famous spammer says about crypto-currency?
Plus, how do you ban something like this?
Re: Bitcoin value falls from above $33 to below $3
#6One of these things will happen: (1) A successful attack on Tor, (2) A successful attack on Bitcoin, (3) The Silk Road's (or similar site's) share of the black market will continue to grow rapidly.
It seems pretty inevitable in the longer term. If current technologies break up, new technologies will be popping up. I guess law enforcement has already lost this battle (in the long term), similarly as RIAA/MPAA has lost to piracy.
It should also be noted that criminal use doesn't raise the price of bitcoins, since criminals don't necessarily hold their bitcoins. For them bitcoin is just an another money laundering system.
Re: Bitcoin value falls from above $33 to below $3
#7Here was Jason Calacanis's take on May 15: "Bitcoin P2P Currency: The Most Dangerous Project We've Ever Seen" -- "We are 100% certain that governments will start banning bitcoins in the next 12 to 18 months. Additionally, we’re certain bitcoins will soar in value and a crush of folks will flood the system and start using them." http://www.launch.is/blog/l019-bitcoin-p2p-currency-the-most...
Who gives a shit what some famous spammer says about crypto-currency? Plus, how do you ban something like this?
I'm not sure what you mean, you ban it exactly the same as you ban copyright infringement or child porn or any of a dozen other crimes that are committed on a computer that simply involve a transfer of information between a few parties.
Re: Bitcoin value falls from above $33 to below $3
#8As much as bitcoin's gotten some bad press recently, this kind of market volatility will severely hamper bitcoin's efficacy as a stable unit of currency. It needs a consistent and stable rate of growth (even if negative).
Re: Bitcoin value falls from above $33 to below $3
#9Here was Jason Calacanis's take on May 15: "Bitcoin P2P Currency: The Most Dangerous Project We've Ever Seen" -- "We are 100% certain that governments will start banning bitcoins in the next 12 to 18 months. Additionally, we’re certain bitcoins will soar in value and a crush of folks will flood the system and start using them." http://www.launch.is/blog/l019-bitcoin-p2p-currency-the-most...
Who gives a shit what some famous spammer says about crypto-currency? Plus, how do you ban something like this?
Forbid businesses from accepting the currency due to stability issues. Also use FUD terms such as "deflationary, the exchange rate changes so much, IRS may take a more active role in investigating sudden influx of cash".
Re: Bitcoin value falls from above $33 to below $3
#10One of these things will happen: (1) A successful attack on Tor, (2) A successful attack on Bitcoin, (3) The Silk Road's (or similar site's) share of the black market will continue to grow rapidly.
It seems pretty inevitable in the longer term. If current technologies break up, new technologies will be popping up. I guess law enforcement has already lost this battle (in the long term), similarly as RIAA/MPAA has lost to piracy. It should also be noted that criminal use doesn't raise the price of bitcoins, since criminals don't necessarily hold their bitcoins. For them bitcoin is just an another money laundering…
It should also be noted that criminal use doesn't raise the price of bitcoins, since criminals don't necessarily hold their bitcoins. For them bitcoin is just an another money laundering system.
Disagree. There's a "float" period between when the order is placed and when it's completed (service/goods verifiably delivered). The dollar-value volume in this float period sets a floor on the market cap of Bitcoin.
I'm clearly fascinated by all this, and a little surprised that more people aren't. The Bitcoin protocol is one of the great recent innovations in distributed systems, and this particular application of it is the culmination of a lot of crypto work into a cypherpunk fantasy.