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re: Is bitcoin gaining legitimacy?
Posted on 11/17/13 at 5:38 pm to TheIndulger
Posted on 11/17/13 at 5:38 pm to TheIndulger
quote:
Quick question about money and its essence.
I've often wondered about money "essence". Like the first time I went to Hong Kong in the early 80's. Took a boat over to Macau when it was still Portuguese. Grabbed a cab at the landing and went to gambling boat with fading paint and a one armed beggar doorman.Just handling the money there for a couple of hours turned our hands totally black. It had essence all right.
Here ya go WIKI: Senate holding hearings tomorrow. 2:00 PM central.
Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies
November 18, 2013 03:00PM
US SENATE
1
Posted on 11/17/13 at 5:57 pm to Blakely Bimbo
quote:
Here ya go WIKI: Senate holding hearings tomorrow. 2:00 PM central.
I'll be watching it.
Anyone here care to comment on $530 bitcoins? When do I get my award for Money Board poster of the year?
Posted on 11/17/13 at 6:55 pm to WikiTiger
Follow the ratio
Bitcoin:Gold
Bitcoin:Gold
Posted on 11/17/13 at 8:31 pm to WikiTiger
quote:
Anyone here care to comment on $530 bitcoins?
Snap chat was offered $3b and it's only been around for 2 years. Talk about great investment for that kid.
Posted on 11/18/13 at 9:59 am to WikiTiger
quote:
Chinese women have played a critical role in the rally, accounting for 40% of VIP customers. VIPs are defined as traders with over 10 million yuan (US$1.6 million) in total transaction volume using the online currency, according to the report.
Most of you are probably too young to remember "Mrs. Watanabe". That ended well.
LINK
The chinese are inveterate gamblers.
Posted on 11/18/13 at 11:03 am to Blakely Bimbo
So Chinese speculators account for approximately 50% of the total volume of Bitcoin transactions. That does not bode well for Bitcoin's future as a currency.
Posted on 11/18/13 at 1:05 pm to Poodlebrain
Bitcoin's biggest problem is definitely stability, although it is more stable now than it has been
I've been watching Bitcoin for a year or so now and have considered some investing but as with all things electronic, I worry about security of the online wallets.
I've been watching Bitcoin for a year or so now and have considered some investing but as with all things electronic, I worry about security of the online wallets.
Posted on 11/18/13 at 1:15 pm to Quicksilver
quote:
Bitcoin's biggest problem is definitely stability
stability will come when it finds its price.
Posted on 11/18/13 at 1:27 pm to WikiTiger
quote:
when it finds its price.
yikes
Posted on 11/18/13 at 1:33 pm to Quicksilver
quote:No, Bitcoin's biggest problem is acceptance. The only generally accepted use right now is conversion to and from currencies issued by governments. The volume of transactions done on exchanges by speculators dwarfs the volume done by vendors of goods and services with customers.
Bitcoin's biggest problem is definitely stability, although it is more stable now than it has been
Posted on 11/18/13 at 1:38 pm to Decatur
quote:
yikes
yep. and this bubble will eventually pop....my guess is somewhere between $1500-$2000 and it will settle down at a price higher than it was pre-bubble. then it'll go quiet again for 3-12 months and then bubble up again, this time even higher.
wash. rinse. repeat.
This post was edited on 11/18/13 at 1:41 pm
Posted on 11/18/13 at 3:18 pm to WikiTiger
So, did you listen? FinCen is going to police the frick out of virtual currencies. Regulation forthcoming.
Posted on 11/18/13 at 3:20 pm to Broke
quote:
So, did you listen? FinCen is going to police the frick out of virtual currencies. Regulation forthcoming.
you obviously didn't listen.
the overwhelming attitude of all 3 members of the panel were that existing regulations were enough.
Posted on 11/18/13 at 3:22 pm to WikiTiger
quote:
you obviously didn't listen.
I caught the very end where they want these "exchanges" to
1. Register with FinCen
2. Implement AML policies
3. Maintain Records including SARs.
All of those completely arse fricks the premise of "anonymity"
Posted on 11/18/13 at 3:24 pm to Broke
Also, if you believe this gives it credibility in any way, I think you are wrong. They know and have stated that it's used for criminal activities by criminal organizations. That's what their focus is. Everything else is secondary.
Posted on 11/18/13 at 3:25 pm to Broke
quote:
Also, if you believe this gives it credibility in any way, I think you are wrong. They know and have stated that it's used for criminal activities by criminal organizations. That's what their focus is. Everything else is secondary.
keep spreading the FUD
btw, bitcoin at $750 right now
Posted on 11/18/13 at 3:26 pm to Broke
So who issues it? Is there some sort of agency controlling it? I love the idea of it.
Posted on 11/18/13 at 3:27 pm to kyledavis
quote:
So who issues it?
bitcoin is a protocol. the algorithm is open source and built into the protocol. it cannot be changed without consensus of the network
Posted on 11/18/13 at 3:28 pm to WikiTiger
They had no answer for the replacement markets that immediately replaced silk road. This may be the biggest challenge confronting law enforcement in American history. They have adapted before, but this is a whole new beast.
Posted on 11/18/13 at 3:29 pm to WikiTiger
quote:
bitcoin is a protocol. the algorithm is open source and built into the protocol. it cannot be changed without consensus of the network
that was like Swahili
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