81–86 of 86 posts
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i like my missed opportunities in logarithmic: https://blockchain.info/charts/market-price?showDataPoints=f... btw, isn't the point of bitcoin system is that all transactions are forever traceable, ie. bitcoins can't just disappear, they only can be moved from one known place to another?
if you move them to a known place that is unreachable then they have effectively disappeared
Every new day seems to bring another new Bitcoin scandal -- whether it's a hacked exchange, stolen wallets, frozen funds, collapsed Ponzi schemes, arrested illegal-market operators, or who knows what else. Yet, despite all this, Bitcoin keeps appreciating, recently reaching an all-time high.[1] -- [1] https://blockchain.info/charts/market-price?timespan=all
Today, why would you steal worthless US dollars? We all know that Wall Street and the Fed have an enforced monopoly allowing them to 'steal' dollars anywhere possible!?
Rather, (non-bankster) criminals go where opportunity lies. Steal BTC and you don't need to risk anybody's life. Steal BTC and your heist will triple in value in a very short time.
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100 randomly generated characters (a-z, A-Z, 0-9) would be 595 bits of entropy. You will not be brute forcing it. Although 100 characters is pretty excessive, since a Bitcoin address only has 160 bits of entropy.
Remember scales - there is a lot more entropy in 160 bits than there is in 100 bits.
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I'm not sure that I'd lead with speculation from the Winklevosses in order to convince a skeptic. Your other three points are much stronger. Also, only the latter two are actual economic developments, rather than analysis. The upcoming Congressional hearings might be newsworthy too.
lol at a couple of dudes who are publicly known to be existing large amounts in bitcoin stating that it "should be worth a lot more!".
One can never be right against the HN crowd. sigh
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Don't the Winkelvii have large Bitcoin holdings, whose value they presumably wish to drive upwards? Sorry, but I think this is a case of a market remaining irrational for longer than some people can remain solvent. I don't intend to waste money betting against it, but I'm not impressed. A couple of years ago people were predicting the price of gold was headed for the stars too, and a lot of them have lost money since…
depends how far you go back on gold prices, 50 years ago buying into gold was a great idea. 10 years ago, maybe not so much, bitcoin is currently at the very early stages so buying in now could be considered cheap in 10 years time.