What are your thoughts on BitCoin?
- Thread starter aimeeandbeatles
- Start date
Mise
isle of lucy
It does; you just misunderstood it. Or at least, I think you did. I can't actually make any sense of your posts 9 times out of 10, and this is no different.
innonimatu
the resident Cassandra
- Joined
- Dec 4, 2006
- Messages
- 15,374
How is a currency that relies on a single worldwide transaction log to be maintained ever anonymous? It's amazing how that "anonymous" claim keeps being repeated!
And their value depend on having a sufficient number of idiots exchanging them for actual valuable stuff.
People who seem to know what they are talking about repeat this, and they are used for drug dealing fairly openly. I guess they must be.
Same as any currency.
I have to say, I am not one of the people who know what I am talking about.
They're pseudonymous instead of anonymous. Once a bitcoin address has been linked to a real identity any transaction using that address can be traced to that person without effort.
However, you can generate as many addresses as you want. So if you are paranoid enough to generate a new address for every transaction and thus limit the information that can be linked to that address, it becomes quasi-anonymous.
But if someone gets access to your bitcoin wallet, he has proof of every transaction you did with it. So it offers way less anonymity than cash does.
Nick Carpathia
Unleash the HAARP
Pffft hahaha the very concept of taking out anonymous loans. You know, typing down your identity with collateral.
Check out the number of people on bitcoinforums.com who apply for loans and then bugger off because who gives a damn about paying back something if they don't know who it is.
As a method of laundering transactions it's perfectly good at doing so, that's what it says on the tin. Just make sure you convert it asap into something whose value won't randomly fluctuate downwards on a whim.
Check out the number of people on bitcoinforums.com who apply for loans and then bugger off because who gives a damn about paying back something if they don't know who it is.
As a method of laundering transactions it's perfectly good at doing so, that's what it says on the tin. Just make sure you convert it asap into something whose value won't randomly fluctuate downwards on a whim.
Now a BitCoin is over $200. 
This is gonna end in tears for somebody.
Since there are 10 million of the things, and the price last year was like $10, maybe some criminal wall street type has found a new way to harvest dumb money from dumb investors again?
While the total value of the Bitcoins may have gone from $100M to $2B, that still seems small enough for some big fish to be playing games.
This seems like a real possibility with transactions being "anonymous" and insane price swings everyday to skim instead of 1% per year in real world bonds.
This is gonna end in tears for somebody.
Since there are 10 million of the things, and the price last year was like $10, maybe some criminal wall street type has found a new way to harvest dumb money from dumb investors again?
While the total value of the Bitcoins may have gone from $100M to $2B, that still seems small enough for some big fish to be playing games.
This seems like a real possibility with transactions being "anonymous" and insane price swings everyday to skim instead of 1% per year in real world bonds.
Crezth
i knew you were a real man of the left
Now a BitCoin is over $200.
This is gonna end in tears for somebody.
You're not kidding. This is the highest it's ever been. Scary!
Here's a list of economists and their comments on bitcoins.
http://www.quora.com/Bitcoin/What-well-respected-economists-have-analyzed-Bitcoin
http://www.quora.com/Bitcoin/What-well-respected-economists-have-analyzed-Bitcoin
TheLastOne36
Deity
- Joined
- Jan 17, 2007
- Messages
- 14,045
So once this large bubble pops, what can we expect?
Will there be other bubbles, or will it finally begin it's eventual deflationary pattern?
Will there be other bubbles, or will it finally begin it's eventual deflationary pattern?
Lambda Ignaceae
Warlord
- Joined
- Feb 3, 2013
- Messages
- 196
There have been a few "pop's" already... Considering there is a limited number of Bitcoins... I think there is growth to come.
However, there are rivals.. so perhaps they will get a boost, and in turn deflate Bitcoins.
However, there are rivals.. so perhaps they will get a boost, and in turn deflate Bitcoins.
Currency deflation means it increases in value.
And now Bitcoin is down $120 in the last 4 hours!!!
To all the merchants who exchanged $200+ worth of merchandise for 1 Bitcoin recently, may you rest in peace.
http://www.zerohedge.com/news/2013-04-10/bitcrash-continues-down-40-and-dumping
To all the merchants who exchanged $200+ worth of merchandise for 1 Bitcoin recently, may you rest in peace.
http://www.zerohedge.com/news/2013-04-10/bitcrash-continues-down-40-and-dumping
Mise
isle of lucy
Mise
isle of lucy
Yeah, it was posted in /r/bitcoin apparently.
I'm assuming this is Thatcher's fault.
I'm assuming this is Thatcher's fault.
