there are other bitcoin exchanges, bitcoin is a virtual currency that has no ownership (at least) that's what's publicized and no ownership. Read the articles, Silkroad was a website that accepted Bitcoins for drugs and "other illicit items"
there are other bitcoin exchanges, bitcoin is a virtual currency that has no ownership (at least) that's what's publicized and no ownership. Read the articles, Silkroad was a website that accepted Bitcoins for drugs and "other illicit items"
The downfall of silk road definitely boosted the value of them significantly. I believe before DPR was busted they were less then $300 per...current value around $820. In just a few months. Value could increase further...definitely a good sign that some major online retailers are now accepting them.
They went from $12 to $1200 in a span of 6-9 months. Sacramento Kings allow you to buy tickets and merchandise with bitcoins. I was hoping to get some insight from anyone that's involved or has an opinion on the overall concept.
They went from $12 to $1200 in a span of 6-9 months. Sacramento Kings allow you to buy tickets and merchandise with bitcoins. I was hoping to get some insight from anyone that's involved or has an opinion on the overall concept.
Bob Voulgaris has an opinion - he was trying to figure out how to buy 300k worth yestereday via his twitter feed
I'm going to wade my way through it again, then maybe I'll be able to ask a question that makes sense.
I read some stuff on thedailydot.com about the fall of the Silk Road founder and this deep internet stuff very interesting.
Thanks for your offer.
Shoot anything,
I've been reading a lot about it lately, but I'm pretty sure I don't know everything yet. I don't consider myself an insider/frontrunner on this stuff, but maybe a question will help me discover more. Bitcoin is something which I feel will be a big part of the monetary system in the future. My belief is that within a couple of years everybody will have a digital wallet, with either bitcoins or some of the alternative (digital) coins. Might as well get used to it now.
it really changed my opinion on it, this fund was oversubscribed meaning there will be plenty of other funds in this space. Billions of dollars will start flowing into bitcoins and right now an average investor can get in on this prior to wall street and venture firms diluting all the value - think getting into facebook/google prior to their IPOs.
it really changed my opinion on it, this fund was oversubscribed meaning there will be plenty of other funds in this space. Billions of dollars will start flowing into bitcoins and right now an average investor can get in on this prior to wall street and venture firms diluting all the value - think getting into facebook/google prior to their IPOs.
I don't believe this is the right way to look at it. The fund which they refer to in the article is a fund which will invest in companies who are going to be Bitcoin-related. Be it in transfers, wallets, exchanges, mining, software- and app production. It's those start-ups which might have an IPO in the future. However the 150 million dollar fund will not be investing in Bitcoin itself.
it's two different funds 150mm invests in start-ups, 500mm is already funded for bitcoins themselves.
"My understanding, however, is that the Fortress effort will be something like an unlisted currency ETF (similar to Bitcoin Investment Trust), with Fortress also perhaps raising a separate vehicle to back Bitcoin-related startups. And there likely is some relationship to a new Bitcoin-related fund raised by Pantera Capital, a San Francisco-based hedge fund whose clients are known to include several Fortress executives."
Shoot anything,
I've been reading a lot about it lately, but I'm pretty sure I don't know everything yet. I don't consider myself an insider/frontrunner on this stuff, but maybe a question will help me discover more. Bitcoin is something which I feel will be a big part of the monetary system in the future. My belief is that within a couple of years everybody will have a digital wallet, with either bitcoins or some of the alternative (digital) coins. Might as well get used to it now.
I saw this last night but did not have time to post. The bitcoin or any of the other incarnations in their current form are nothing more than an investment vehicle or commodity just like oil or gold. They were conceived in a way that will never allow them to function as a real usable currency due to the inability to control it and its stability is much to scary. Clearly is has a use but how is a real market going to be established when something is going from $10 to $1200 and back down to $400 in the scope of a year. Add in the finite number of coins and you start to realize the shit was flawed from the beginning. Now don't get me wrong, anonymous digital stable currency would be a great thing but the bitcoin is not it.
I have not owned bit coins yet. So no wallet nor exchange experience. I believe Jafar has. I agree with you that it's a good article. As I said before, I do believe in the possibilities of Bitcoin. Not as an investment commodity but as a currency. The article states that any fears of losing value on bitcoins while holding them in your wallet can be mitigated by trading them immediately. Only when needed.
I have not owned bit coins yet. So no wallet nor exchange experience. I believe Jafar has. I agree with you that it's a good article. As I said before, I do believe in the possibilities of Bitcoin. Not as an investment commodity but as a currency. The article states that any fears of losing value on bitcoins while holding them in your wallet can be mitigated by trading them immediately. Only when needed.
I would be interested to hear your thoughts on them from a currency perspective because as you can tell from my posts I would never even think of them in that regard.
I would be interested to hear your thoughts on them from a currency perspective because as you can tell from my posts I would never even think of them in that regard.
I store mine on coinbase. Mtgox definitely set bitcoin back a bit but I don't think it's going anywhere. As it gets more mainstream and more players get involved, the volatility will settle down. I encourage you to set up a coinbase account, deposit a small amount and use it to make a transaction. You will be amazed at how easy it is.
Until that volatility settles down, I wouldn't keep a large balance. With coinbase you can set up an account with a connected bank account (much like paypal) and then also link a credit card (debit not allowed) and you can fund your account instantly. It allows you to get in and get out very quickly without being exposed to hacking risks or huge price drops.
I store mine on coinbase. Mtgox definitely set bitcoin back a bit but I don't think it's going anywhere. As it gets more mainstream and more players get involved, the volatility will settle down. I encourage you to set up a coinbase account, deposit a small amount and use it to make a transaction. You will be amazed at how easy it is.
Until that volatility settles down, I wouldn't keep a large balance. With coinbase you can set up an account with a connected bank account (much like paypal) and then also link a credit card (debit not allowed) and you can fund your account instantly. It allows you to get in and get out very quickly without being exposed to hacking risks or huge price drops.
I am not disputing the ease of use but until the actual idea of what a bitcoin is, is changed I dont feel like it can function as a currency. The fact that there are a finite amount of bitcoins without these coins being backed by a tangible product makes them the worst of both forms of currency policy as seen in the modern world.
I dont have anything bad to say about what you are doing but basically you are using them as a prepaid visa and nothing like their intended revolutionary propaganda.
Until you can store large amounts, in a secure manner, without the risk of wild volatility, it is nothing more than a way to buy drugs or fund gambling accounts and speculate.
And to be clear Jafar I have nothing bad to say about the way you are using them I just used that to expand on my thoughts in regards to a legitimate currency. I would use them the same way you do but I dont want people to get the wrong idea about this shit as I have seen people who are very smart lose their asses.
The fact is, how many people were talking about MTGOX failing before is collapsed? Plenty of people in the bitcoin community will tell you they knew there was a problem but of course they only come out after the all the data was revealed.
If you want me to be as honest as possible I think of Bitcoin as nothing more than a PONZI SCHEME. There I said it.
Kass,
would you mind explaining what you mean with bitcoin's 'intended revolutionary propaganda'?
Glad we agree on the ease of use, significantly lower fee's and the no-chargeback option (these alone should make it worth your while when ordering online). As it is cheaper than using banks, cheaper than using Western Union, as it gets more and more widely accepted in stores. By the time it becomes ingrained in the world, is there a need for it to be backed by tangible goods? Do you need it to be backed by tangible goods when making a transaction, riskless, in the way Jafar explained. No, all you need is the price of that moment at an exchange, whether bitcoins are trading at $30 or at $5000.
eug44
Senior Member
Comments
that's false and would be very difficult to accomplish
money.cnn.com/2014/01/27/technology/security/bitcoin-arrest/
http://m.bbc.co.uk/news/technology-25919482
What am I missing?
"The CEO of BitInstant, a Bitcoin exchange"
there are other bitcoin exchanges, bitcoin is a virtual currency that has no ownership (at least) that's what's publicized and no ownership. Read the articles, Silkroad was a website that accepted Bitcoins for drugs and "other illicit items"
The headlines are misleading. Sorry
do you normally just read headlines, and skip past the actual article?
Bob Voulgaris has an opinion - he was trying to figure out how to buy 300k worth yestereday via his twitter feed
http://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/?_php=true&_type=blogs&smid=tw-share&_r=0
https://bitcoin.org/bitcoin.pdf
If yo have any questions, feel free to ask. I'll be glad to help.
I read some stuff on thedailydot.com about the fall of the Silk Road founder and this deep internet stuff very interesting.
Thanks for your offer.
Shoot anything,
I've been reading a lot about it lately, but I'm pretty sure I don't know everything yet. I don't consider myself an insider/frontrunner on this stuff, but maybe a question will help me discover more. Bitcoin is something which I feel will be a big part of the monetary system in the future. My belief is that within a couple of years everybody will have a digital wallet, with either bitcoins or some of the alternative (digital) coins. Might as well get used to it now.
my original opinion, to put it simply was this is a scam, a phase or whatever you want call it however a month or so ago when this became public http://finance.fortune.cnn.com/tag/fortress-investment-group/
it really changed my opinion on it, this fund was oversubscribed meaning there will be plenty of other funds in this space. Billions of dollars will start flowing into bitcoins and right now an average investor can get in on this prior to wall street and venture firms diluting all the value - think getting into facebook/google prior to their IPOs.
I do not own, nor have I ever bought them. Just been reading up a lot on the subject.
I don't believe this is the right way to look at it. The fund which they refer to in the article is a fund which will invest in companies who are going to be Bitcoin-related. Be it in transfers, wallets, exchanges, mining, software- and app production. It's those start-ups which might have an IPO in the future. However the 150 million dollar fund will not be investing in Bitcoin itself.
"My understanding, however, is that the Fortress effort will be something like an unlisted currency ETF (similar to Bitcoin Investment Trust), with Fortress also perhaps raising a separate vehicle to back Bitcoin-related startups. And there likely is some relationship to a new Bitcoin-related fund raised by Pantera Capital, a San Francisco-based hedge fund whose clients are known to include several Fortress executives."
I saw this last night but did not have time to post. The bitcoin or any of the other incarnations in their current form are nothing more than an investment vehicle or commodity just like oil or gold. They were conceived in a way that will never allow them to function as a real usable currency due to the inability to control it and its stability is much to scary. Clearly is has a use but how is a real market going to be established when something is going from $10 to $1200 and back down to $400 in the scope of a year. Add in the finite number of coins and you start to realize the shit was flawed from the beginning. Now don't get me wrong, anonymous digital stable currency would be a great thing but the bitcoin is not it.
anybody tried those?
Obi-
What exchange/wallet did you buy/store coins on? thanks
I have not owned bit coins yet. So no wallet nor exchange experience. I believe Jafar has. I agree with you that it's a good article. As I said before, I do believe in the possibilities of Bitcoin. Not as an investment commodity but as a currency. The article states that any fears of losing value on bitcoins while holding them in your wallet can be mitigated by trading them immediately. Only when needed.
Here's a list of twitter handles:
@coindesk (daily bitcoin price)
@rogerkver (bitcoin related companies investor)
@aantonop (biggest pro bitcoiner)
@bitcoin
@bitcoinmagazine
I would be interested to hear your thoughts on them from a currency perspective because as you can tell from my posts I would never even think of them in that regard.
I store mine on coinbase. Mtgox definitely set bitcoin back a bit but I don't think it's going anywhere. As it gets more mainstream and more players get involved, the volatility will settle down. I encourage you to set up a coinbase account, deposit a small amount and use it to make a transaction. You will be amazed at how easy it is.
Until that volatility settles down, I wouldn't keep a large balance. With coinbase you can set up an account with a connected bank account (much like paypal) and then also link a credit card (debit not allowed) and you can fund your account instantly. It allows you to get in and get out very quickly without being exposed to hacking risks or huge price drops.
I am not disputing the ease of use but until the actual idea of what a bitcoin is, is changed I dont feel like it can function as a currency. The fact that there are a finite amount of bitcoins without these coins being backed by a tangible product makes them the worst of both forms of currency policy as seen in the modern world.
I dont have anything bad to say about what you are doing but basically you are using them as a prepaid visa and nothing like their intended revolutionary propaganda.
Until you can store large amounts, in a secure manner, without the risk of wild volatility, it is nothing more than a way to buy drugs or fund gambling accounts and speculate.
In that case would you tell people to stop trading in shares, bonds and derivatives too?
Not at all and you know the difference as I have stated before. These people who I know are smart were not trading it.
If you want me to be as honest as possible I think of Bitcoin as nothing more than a PONZI SCHEME. There I said it.
would you mind explaining what you mean with bitcoin's 'intended revolutionary propaganda'?
Glad we agree on the ease of use, significantly lower fee's and the no-chargeback option (these alone should make it worth your while when ordering online). As it is cheaper than using banks, cheaper than using Western Union, as it gets more and more widely accepted in stores. By the time it becomes ingrained in the world, is there a need for it to be backed by tangible goods? Do you need it to be backed by tangible goods when making a transaction, riskless, in the way Jafar explained. No, all you need is the price of that moment at an exchange, whether bitcoins are trading at $30 or at $5000.