Bitcoin : The New World Currency

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Your cyber currency confuses me

Imag
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jjttdw
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Losing 7% of the total outstanding denomination is quite staggering when you think about it.

http://in.reuters.com/article/2014/02/2 ... Y720140228

I don't see anything wrong with the stuff, but it is a pure speculative play, not an investment. Similar to gold in that regard, but virtual gold.
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anodyne13
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I was so happy to come across this thread! I'm a huge supporter of Bitcoin! I don't have much of it for financial reasons, but I can really see this becoming a major part of our world economy. When compared to fiat there are massive advantages to using BTC in my eyes. Screw the banking system, it's high time for some disruption.
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ll_coolray
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disruptive technologies do tend to... disrupt the "norm" :D

our financial system could use a kick in the buttocks
on point like a decimalist?
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whyhoo
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Interesting article about the cult of bitcoin:
http://nymag.com/daily/intelligencer/20 ... tcoin.html
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Cookie Head
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Cookie Head wrote:Interesting article about the cult of bitcoin:
http://nymag.com/daily/intelligencer/20 ... tcoin.html


Another misguided article. Bitcoin is not about the end of the world. Its about redefining how we use money. Even more so, question exactly what money is.

Most of these journalists fail to do their homework and cite other articles as source. If they would do half the research needed, they might have a fair and balanced perspective on what virtual, or what I like to call "new", currency is.

And ya, anyone who cites the failure of MTGOX as the failure of bitcoin should get their head examined. That's like saying if a US bank was robbed then the US dollar failed. These are the same naysayers who say Bitcoin is used for illegal purposes or to buy rocket launchers on the undernet. Again, no different than people buying crack for US dollars or financing missile payloads in the Ukraine.

This is the new frictionless currency and it will have a future with the digital space. Whether it will still be called Bitcoin or be something different is yet to be seen. What I do predict is that regulation will def. have to come into play in order to increase it's adoption rate.

Here are some great perspectives to check out.
http://www.coindesk.com/bitcoins-biggest-challenge-educational-technical/

http://evoorhees.blogspot.com/

http://www.wired.com/wiredenterprise/2013/09/bitcoin-homeless/
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submethod
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isn't the "regulation" the problem that BTC is attempting to address? decentralizing the system? from what i understand, the system is designed to regulate itself no?
on point like a decimalist?
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whyhoo
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those articles were interesting to say the least.... especially the on about the homeless guys...

even this old dog can hit a "like" button for 8 hours a day.... -but for 6 cents of a bitcoin... - sounds pretty harsh...

lol....

- will be interesting to see how this stuff plays out..... my guess is it hangs around for sometime, but never is really accepted.

words I live by... " If I can somehow turn that bitcoin (or part of it... -whatever "it" is) into a chili cheese dog,

I'm ok with it ! " :lol: ec
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easycraig
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easycraig wrote:those articles were interesting to say the least.... especially the on about the homeless guys...

even this old dog can hit a "like" button for 8 hours a day.... -but for 6 cents of a bitcoin... - sounds pretty harsh...

lol....

- will be interesting to see how this stuff plays out..... my guess is it hangs around for sometime, but never is really accepted.

words I live by... " If I can somehow turn that bitcoin (or part of it... -whatever "it" is) into a chili cheese dog,

I'm ok with it ! " :lol: ec


WORD!
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submethod
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An article saying the taxman will relegate bitcoin to niche status.

http://finance.fortune.cnn.com/2014/03/11/bitcoin-taxes/

and another saying bitcoin to be taxed as property.

http://time.com/37428/bitcoin-irs-property-virtual-currency/?hpt=hp_t3
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jjttdw
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http://money.cnn.com/2015/01/06/technol ... index.html

Europe's biggest Bitcoin exchange has been hacked, again.

Cyber thieves have run off with about 19,000 bitcoin ($5.2 million) from Bitstamp accounts. The company said it has suspended services after some digital wallets were compromised on Jan 4.

Bitstamp told customers not to make any deposits as it works with authorities to find the culprits.
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conartstudio
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i just got paid for a print in bitcoin!
on point like a decimalist?
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whyhoo
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this price drop is a great thing. Already bought a lot more coins.
Been day trading them since early last year. :)
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submethod
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easycraig
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Happens all the time with traditional currencies:

http://www.npr.org/blogs/thetwo-way/201 ... from-banks
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cybernigel
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$$$
The Lincoln Squirrel has been assassinated! - Kent Brockman
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cybernigel
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Told you. Things are poppin for now! Price is now trending at $776.00 per coin.
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submethod
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submethod wrote:Told you. Things are poppin for now! Price is now trending at $776.00 per coin.



durn... I totally forgot ( until you mentioned it)
I bought 12 coins when it was around 400.00 all beacuse of you.
Maybe now i can sell them and by a nice Obey HPM
Good looking out.
vvk
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vvk wrote:
submethod wrote:Told you. Things are poppin for now! Price is now trending at $776.00 per coin.



durn... I totally forgot ( until you mentioned it)
I bought 12 coins when it was around 400.00 all beacuse of you.
Maybe now i can sell them and by a nice Obey HPM
Good looking out.

Good for you man. But the truth, the halving is coming in July. That said, prices are speculated to jump tenfold. I could be wrong though.
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submethod
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http://www.reuters.com/article/us-bitco ... SKCN11411T

"His study, funded by the U.S. Department of Homeland Security and shared with Reuters, shows that since bitcoin's creation in 2009 to March 2015, 33 percent of all bitcoin exchanges operational during that period were hacked. The figure represents one of the first estimates of the extent of security breaches in the bitcoin world."


ooof
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conartstudio
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conartstudio wrote:http://www.reuters.com/article/us-bitcoin-cyber-analysis-idUSKCN11411T

"His study, funded by the U.S. Department of Homeland Security and shared with Reuters, shows that since bitcoin's creation in 2009 to March 2015, 33 percent of all bitcoin exchanges operational during that period were hacked. The figure represents one of the first estimates of the extent of security breaches in the bitcoin world."


ooof


This is true. The exchanges are hackable just like Wall Street.
I, for one, do not keep my coins in them. It's the preciousssssssss.
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submethod
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submethod
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submethod wrote:As of today, Bitcoin is now at $960 per coin. To the moon!
http://qz.com/873828/bitcoins-nearing-its-all-time-high-again-and-this-time-it-might-be-for-real/



still holding those 12 coins. let me know when to sell
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