This page has been archived and commenting is disabled.
Presenting The BitKillers: These Are The Richest Holders Of Bitcoin
The top holder of Bitcoins is the unlikely named 1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a with 111,111 units of the crypto-currency (up from 40,000 units in the summer of 2011) for a total value over $110 million. Perhaps most interesting is these 100 Bitcoin holders represent over 20% of the entire outstanding amount of the alternative currency.
The following 100 Holders represent 2.23 million Bitcoins of the 11.12 million total oustanding currently...
(click image for full list)
and the Number 1 Holder has been adding (though hasn't added since Feb 2013...)
And the concentration of Bitcoins has fallen from its early incarnation highs but has been static for recent months...
Source: BitcoinRichList
»
- 54601 reads
- Printer-friendly version
- Send to friend
- advertisements -
Wouldn't it be nice if the gubbmint had this level of transparency? For you gamblers / BTC holders, it might make sense to convert some into silver or gold given the ridiculous discounts we are seeing...
Absolutely agree. Trading FX with anything is high risk. I have my company accepting BtC's that will be automatically switched out to USD.
calling fone......
Get back to your CIA cubicle and pump BTC to the lemmings....
Looks like a totally normal market to me, seeing as NOT ONE of those individuals bought after May 2013.
Some serious fleecing coming.
"The following 100 Holders represent 2.23 million Bitcoins of the 11.12 million total oustanding currently..."
And this is decentralized? This BTC mania gets weirder and stranger by the day.
The Worlds Central Bankers aren't stacking Bitcoins, bitcherrrs. Play while it lasts and transfer those profits into what they're stacking. That's if you're smart and savvy enough to pull it off. :)
And the big holders will soon enough buy stuff with it, spreading the holdings and juicing the market.
That's supposed to be a "killer"?
The BTC haters really need to let it go. You've been handed a Fed-killer tool, and you're doing your very best to break it.
Makes one wonder how serious you ever were.
Depends if you truly believe it was created by some anonymous do-gooder. I happen to believe it was created by some gov't agency, or central bank, because nothing makes more sense to monitor your every transaction and syphon every tax dollar than to have you 100% transact and hold in a digital currency.
Just what I believe. Look at SLV and GLD. They're total replicas of the real thing created only to control price by subversive and illicit means. Is BTC any different? Time will tell.
And instead of a rabbit, I will pull from the hat, 3 sticks of crypto-nite.
You people watch!
Mark my words
Them hypocrites in DC gonna see this and say there's too much concentration of wealth in the upper 1% and it's got to be redistributed.
What about that other 1%, Lloyd, Jamie.
Guys?
<crickets>
Bearing Dude may have gotten in near the top (average buy-in costs approx. $700), but I'm a big boy educating myself.
That is pretty concentrated ownership, but I do not think it would be concentrated enough to "break Bitcoin", which they clearly would not want to do.
***
And Biggest P.O.S. on Planet Earth Jon Corzine (TM)? Why TF is he not in jail yet?
The guy with 100K+ bitcoins was on Max Keiser's show this past week (if you believe him). Go to the second half of the show to see the interview:
http://www.youtube.com/watch?v=V8_HT8zfc78
Bitcoins were the first implimentation of a crypto-currency which has flaws and is in a massive bubble.....Litecoin fixed many of the flaws of Bitcoin and is fare value and QuarkCoins on the other hand has fixed all those flaws and is still dirt cheap and minable.
* Super secure hashing: 9 rounds of hashing from 6 hashing functions (blake, bmw, groestl, jh, keccak, skein). 3 rounds apply a random hashing function.
* CPU mining (no GPU Asics BS)
* Quick block generation: 30 seconds (Don't have to wait 15 minutes for your transaction to approve)
* 2048 QRK per block (halving every 60480 blocks ~ 3 weeks)
* Block reward will never drop below 1 QRK
* Total of 247 million QRK will be mined in ~ 6 months, after that ~ 1 million QRK p.a. (~ 0.5% p.a inflation)
* Difficulty retargets every 20 blocks (maximum 10% up or 50% down)
Decided to throw $100 the other day after reviewing the specs and throw a couple of miners into a pool....no I am not a huge fan of crypto currencies and no I will never take the money that I am going to spend on PMs and put it into this.
It's like going to the horse races man!
$100 on Quarkcoin bichez!!!
https://www.cryptsy.com/markets/view/71
P.S. Fonestar can suck a dick!
Hey thunder....Quarkcoin? Shit....I thought I was ahead of the game with litecoin...
fuck me dude.
Hahaha Hey fonz!!!
You can always swap in a bit of your Litecoin for Quarkcoin at cryptsy, I figure Quarkcoin has the best upside and stats at this point......or they could all turn to shit and I'll be out $100.
You're tempting me to go to the races with a hundo...
I'm with you skateboarder.
http://www.youtube.com/watch?v=XsrU2dMBVUQ
The only reason why I would even remotely consider this is because I know that people are just catching on to this virtual currency business, and as bitcoin and litecoin get saturated, even weirdo names like quarkcoin will have a chance to make their IPOs, if you may. Let's ride the wave dawg.
edit: this entertainment hundo would have gone to beer and weed anyway hehe. Might as well gamble with it.
fair enough. May as well have some fun. Take a break from the usual bs.
This what it must have felt like at the Fed in the early days......
Yup that's all it is to me, a quick gamble...might as well pick a long shot with good breeding.
Edit: soon as my next paycheque comes in I'm still going taking my monthly boat trip
I am definitely trying to buy while it is sub-20 also. These prices aren't industry sustainable - we're gonna see some adjustments as the paper markets fold in time.
Beer and weed have real value.
Stack On
None of these BTC supporters even addressed the thread topic (concentration and lack of decentralization). I wonder why?
ZH tries to be fair I guess, but I'm fast losing interest in following this shit anymore.
What didn't we address? There's lots of companies out there that have more centralized "ownership" than Bitcoin.
> What didn't we address?
Who the fuck is 'we', shill? What dept.gov do you work for?
Bitcoin is the perfect currency -- for the state. Every transaction is documented forever in a distributed database, with complete traceability for anybody with a sufficiently large database and access to records of all other monetary transactions leading up to and from the bitcoin transactions. And invented in a series of papers on cryptographic digital currencies in the mid 1990's by, you guessed it, NSA. Quite brilliant. And very ironic for the fools who think Bitcoin actually gives them anonymity when it was designed for the opposite. LOL
http://www.uk420.com/boards/index.php?showtopic=333828
Have a read kids.
Anyone who thinks this is 'real' is a friggin retard and deserves a supersized dunce cap.
You're comparing your opinion to a published MIT study? Really?
I was talking about the bitcoin bubble, not your link. Can clearly see why you thought the other way though.
Come on man, we all know the cannabis forums contain some enlightened shit.
It did cause me to doubt. Happy turkey day.
What a load of crap. I'd far rather trust Bitcoin with it's proven SHA-256 even if Litecoin does offer some speed over Bitcoin it offers little else in terms of features or functionality.
Features & functionality of course meaning, something other than calling it money.
Unless you've finally worked out both those rather obvious (but in your mind "transient" issues) like being able to hand either BitCoin or LiteCoin to a wino on the street corner it remains a speculation, only usable to a certain class of people who can AFFORD TO USE IT.
As I often remind people, real money does not rely on anything outside of itself to be money. Its the same reason we hate the Fed & central governments for destroying its value as payment for our labor while enriching the top few isn't it?
Happy Thanksgiving to you and your'n
Same to you & yours Ben...I already broke into the apple pie ;-)
When I hear about the BTC ETF I'll know it's time to sell
EXANTE fund platform. Year-to-date return of 4,847%.
Newer BIT Bitcoin Investment Trust. Up 617.8% since inception.
Selling now? Give me a heads up which exchange you're dumping on, please..
Hey 16 week ZH troll, how's she going?
Things are looking up. Thanks for asking.
I've got 125 GLD coins bitchez! 100 GLD coins is worth about 6$ at current bitcoin prices.
"Anarcho-capitalist" LOL - he's a real life anarchist banker...
http://www.guelphhumber.ca/news/it-really-about-making-money%E2%80%A6-af...
The fools on this forum make me laugh. Bitcoin couldn't possibly be rising due to massive demand? No, it must be some conspiracy!!!
ROFL losers
Hmmm, I'll buy a July '14 $20 Put if you're selling.
"If you like your Bitcoin, you can keep your Bitcoin."
Bernanke: "If you like my fiat FRNs you can keep them. I got moar where that came from." [pauses, then adds]
"In fact, I make $100B/mo more, with a few keystrokes, just to make people happier. And I made PM more affordable for the masses, by helping to beat down its ridiculous price from the $1800 level. So sorry for ending your front-running of QE with gold by a small group of zealots. Now almost everyone can afford to buy it, around $1200. Don't worry, I'll keep it near that level, so you too can buy it. Do I make you happy? All I want to do is to make you happy.""
How many and what price? I might be game for that.
Oops, the premise of this article is incorrect. These are the largest addresses (accounts, to use dino-money term). These might be exchanges, funds, or individuals. But account owners might have many of these. Supposedly the largest single holder has >100,000 coins.
Bitcoin is the perfect currency -- for the state. Every transaction is documented forever in a distributed database, with complete traceability for anybody with a sufficiently large database and access to records of all other monetary transactions leading up to and from the bitcoin transactions. And invented in a series of papers on cryptographic digital currencies in the mid 1990's by, you guessed it, NSA. Quite brilliant. And very ironic for the fools who think Bitcoin actually gives them anonymity when it was designed for the opposite. LOL
With "last transaction dates" that stale? With this much current action? You wanna try again?
fonestar
rats enof
We all have different paths - lets all see where this goes and then we can call each other names.
Shamir already did a paper over a year ago on suspicious transactions early on in the Blockchain. If you contrast Satoshi's hoard and the early adopters of Bitcoin to our current fiat masters, Satoshi looks very giving. Currently we owe our fiat masters all money in circulation plus interest.
Well that's because you're an idiot if you believe that. The hacker community has been talking about p2p currency since the 1990's (I guess you missed that somehow?). I have nothing against conspiracy-theories (many are perfectly valid) but when you start inventing conspiracies to meet your preconceived delusions you are nothing but a FUD-spewing troll.
Been some musings in WIRED that'd suggest it's closer to somebody you really don't want to think of as involved being deeply involved .....
In fact, makes perfect sense if one delves into the 7 layes of "such things" which of course referrs to the philosophical bent of one J J Angleton.... or the famous glimpse caught during BCCI's demise ...
Oh ye of little faith
If you had bothered following this story you would see that it has already been debunked.
What's been debunked?
It's anonymous, no?
I'm waiting for the Time magazine cover story wiith a picture of some guy kissing a bitcoin. That's when I'll know it's over.
Nah - the National Ass'n of Bitcoin's David Lereah is going to write a booklet!
The hacker community is primarily employed by government agencies spanning the globe. So yeah we should trust those motorcyclists.
FAN BOYS ARE GAY. HACKERS DO FAN BOYS WHEN THEY RUN OUT OF ASIAN PORN.
Dude, log off of Silk Road once in a while, come up for air. Breath.
How many of those hackers were compromised by age 18 (by threats of legal entanglements), and signed up to work for the NSA? A fair few, I would imagine.
@fonestar: "...but when you start inventing conspiracies to meet your preconceived delusions you are nothing but a FUD-spewing troll."
"Forgive them, for they know not what they do." might apply. For they are, what Marketers call "Late Adopters", and what computer people call "cache and resource-limited, while running on an old CPU".
Put another way... "Do not believe everyone who comes in the Libertarian name. By their blogs shall ye know them. Some come as an angel of enlightenment, but they are not angels."
nope-1004
I share your opinion. Paul Craig Roberts made a great comment on KWN about a recent proposal Made by Summers. This shows the kind of ideas that the Fascists at the top of the pyramid are playing with. And Bitcoin perfectly fits this role.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/11/27_Paul_Craig_Roberts_-_The_US_Is_Being_Destroyed.html
Quote:
Summers says that today the problem of too much saving has reappeared. The centerpiece of his argument is “the natural interest rate,” defined as the interest rate at which full employment is established by the equality of saving with investment. If people save more than investors invest, the saved money will not find its way back into the economy, and output and employment will fall.
Summers notes that despite a zero real rate of interest, there is still substantial unemployment. In other words, not even a zero rate of interest can reduce saving to the level of investment, thus frustrating a full employment recovery. Summers concludes that the natural rate of interest has become negative and is stuck below zero.
How to fix this? The way to fix it, Summers says, is to charge people for saving money. To avoid the charges, people would spend the money, thus reducing savings to the level of investment and restoring full employment.
Summers acknowledges that the problem with his solution is that people would take their money out of banks and hoard it in cash holdings. In other words, the cash form of money provides consumers with a freedom to save that holds down consumption and prevents full employment.
Summers has a fix for this: eliminate the freedom by imposing a cashless society where the only money is electronic. As electronic money cannot be hoarded except in bank deposits, penalties can be imposed that force unproductive savings into consumption.
I can 'hoard' my money as bitcoin in a wallet that no one can get access to or charge me to keep it there if I wanted to do so. Cashless or not I can still effectively tell the banks to go fuck themselves if they want to go that route.
You've just seen that one can follow the dates that Bitcoin was bought.
Therefore, you simply need to tax the next transaction that occurs on such and such date, as a form of back taxing. Since the Bitcoin wallet address is pretty much public (since transactions have to occur through them) there is no way to avoid this if TPTB capture the market.
These people want your money to disappear. Only the rich get to stay rich.
Ok, let's just give up then. Long leather chaps.
Let's see 'em charge a negative interest rate on my physical commodity holdings.
"can reduce saving to the level of investment,"
So savings at 0% interest exceed the level of investment. And this is the fault of savers, not those who are managing the funds, and deciding not to invest (Except in dividends and stock buybacks, of course)?
I like how the sociopath suggests the solution is to give people less options, less workarounds. And if people are forced to hold 'cashless currency' and are forced to PAY interest to the banks, on their savings, do you know what will happen? Hyperinflation.
Whiskey & Cigarettes (to make change) will become the new de facto currency.
Was about to say exactly that - oops, bitcoin, we have a problem...
Yes another trap lying in wait. Gov's got it covered. Mt Gox is hanging the AML (anti money laundering) sign next to the sign up button. And, of course, the hashing fxns are NSA made.
MTGOX = Magic, The Gathering Online Exchange
But I trust them! Really! /s
And your snapchats are all gone too!
Wow, I am shocked ... by your faith in the competency and capabilities of government agencies and central banks. Better yet, maybe bitcoin was made by a consortium of central banks, with the assistance of the US Senate and House of Representatives working in co-ordination with the European Union and TEPCO.
I happen to believe it was created by some gov't agency, or central bank
Your Spidey-sense tells you that? (I know damn well you have no factual basis.)
nothing makes more sense to monitor your every transaction and syphon every tax dollar than to have you 100% transact and hold in a digital currency.
PLEASE learn something about BTC. What you just said is ridiculous.
Martin Armstrong said it, not me.
Ah, so it's true because Martin Armstrong said it!
I see....
As opposed to fonestar and CH1? lmao....
No, as opposed to FACTS.
Does FACTS post in here? Summon him to prove his point, then...
Martin Armstrong, Peter Schiff and others are sensing that there's a threat to something they have been personally invested in for years and years.
i don't think so.
i expect they just don't get it, and are suspicious of it.
i just watched a debate on youtube between stefan molyneux and peter schiff regarding bitcoin, and while i generally agree with schiff's views on most things (even if he is a bit arrogant and difficult to listen to), he came across as just being suspicious of bitcoin and not really understanding it.
Schiff's technical knowledge of Bitcoin [youtube]
I have no technical knowledge of derivatives - or black holes, big-bang theory, agw, for that matter - doesn't mean I'm a fool for not falling for them; quite the opposite, actually.
"You" can easily be right, even for the wrong reasons.
Everybody has some sort of "business model" and "revenue streams" that they will promote and defend. Perfectly natural.
BTC shouldn't be a "threat" to PM and, technically, it isn't. In fact, since BOTH are enemies of fiat, you'd think that ppl here would be all over it with their alleged "free market" mantras.
The irony is, that many (not all) 'goldbugs' hate BTC, and this makes no sense under the logic/premise of my preceding sentence. This tells us many people have switched from gold to BTC, or have stopped buying gold in favor of BTC. They have thus adversely impacted the business model of guys like Schiff.
The TACTICAL error that guys like Schiff make, is that instead of saying "Hold both gold and BTC, since they are compatible with each other and both are enemies of Central Banks", they attack ANYTHING and EVERYTHING that threatens their Precious biz model: Being a middle-man in the gold market, where they get their cut. So much for being pro Free-Market. Not exactly the smartest move to make, on their part.
/ Will the real libertarians please stand up. No, I don't mean "show me your gold-finger" /s
That guy says keeping cash in a safe deposit box is illegal. He is so full of shit it's crazy.
problem is he's just the messenger.
Are you too challenged to post a link for context?
Or put another way, if has no clear evidence and no fucking clue he will just make shit up.
"I'm not rich, but I risked $100 and it worked!"
I did risk $800 last week (@$800) and it worked.
I only wish I had risked $100,000. last April, when I loaded BTC SW onto my PC. Or had risked half of the $100k I bought in PM in the Summer/Fall of 2012, instead of drinking Gold-Aid lemonade.
Remind me again about that "Store of value"** thing? The point is: 1. NOTHING lasts forever, 2. DIVERSIFY, lest you lose all by betting all on one roll of the dice, 3. Don't care to hear "In the long run" rationalizations for holding PM, because we all know (or should know) what happens "in the long run": MANIPULATION of any and ALL assets of value... and then you die. Duh! Maybe Tyler hasn't explained this to you yet?
** "Store of value" means that you only need it to last (retain value) long enough for your goal to be achieved, not anyone else's or for the next 500 years. The last I checked, you live in a house designed to last 50 or maybe 100 years, not 500 or 1000 years. Unless you're fucking royalty. And I'm 99.999999% sure that no bloggers on ZH are royalty.
The fact is you don't know if what they are telling you about BTC is true or not. Given the likes of Google and Cisco it is hard to know if they were a government operation from the start, if they were corrupted along the way, or they haven't been leaned on hard enough yet.
You can't hold it or melt it to make sure it's real and isn't a wolf in sheep's clothing.
It's best to play it like a gamble. If you hit a homerun, great, celebrate. If it fails, the money went for the entertainment value.
Digital cryptographic currency was invented by the NSA. Look it up. (Do I have to Google for you, too?)
Bitcoin is the perfect currency -- for the state. Every transaction is documented forever in a distributed database, with complete traceability for anybody with a sufficiently large database and access to records of all other monetary transactions leading up to and from the bitcoin transactions. And invented in a series of papers on cryptographic digital currencies in the mid 1990's by, you guessed it, NSA. Quite brilliant. And very ironic for the fools who think Bitcoin actually gives them anonymity when it was designed for the opposite. LOL
If and when Snowden discloses that Bitcoin is an NSA invention (fact) perpetrated by the NSA or other US government agencies (speculation), I wonder what the effect will be? Maybe even positive for Bitcoin valuations? We will see. LOL
+1 on that. I think that whole "Satoshi" whatever story, is a bunch of crapola.
I love the idea of Bitcoin, and I love the intent of Bitcoin ie. what Bitcoin is supposed to be. That being said: Me wanting to believe something, doesn't make it true, and is far more likely to blind me from seeing this thing for what it is.
(Forgive my room temperature IQ) So lets say 100000 bitcoin are initially snatched up by a few individuals, at say 2 bucks per bitcoin. After a short time ( and a few plugs from our friendly neighborhood banker hunter) the value of bitcoin rises, to let's say $1025.00 per bitcoin. A flurry of buying ensues, as a group of Zerohedger's (led by ________) purchase 100000 bitcoin for $1025 each. Shortly after this happens, the initial buyers of bitcoin cash in their 100000 bitcoin...
Q: What would happen to the "value" of the remaining 100000 ZH'ger-held bitcoin?
...or should I go back and re-do grade 5..
What so many naysayers here at ZH are missing is that the early adopters may be prone to cashing out on some of their holdings as a hedge. But fact is most of them believe it will go to 10,000 or 100,000 USD:BTC, and most have little or no faith in FIAT. Many are also heavily invested in the BTC economy (with BTC cash flowing businesses like mining, gaming, gambling, etc.). Most are not interested in saving in FIAT because they all know that the rate of BTC monetary expansion is a fraction of FIAT. And when things get bad, they can always use BTC.
Early adopters have been buying expensive things with BTC as well, houses, cars, etc. And the sellers of those things are now vested in BTC value and the BTC economy and also because of the continued rise and belief that more adoption willl occur, those sellers start SAVING in BTC. See the trend? If you were one of the very early adopters would you want to pump and dump today or see 2 billion people start using BTC? I would compare it more to one hive slowly taking over another hive territory and the queens in the hive are not looking to switch sides, they just want a bigger hive. This is a currency as much as governments don't want to admit that.
China? Well China invented paper currency. They also had the first massive crash of a paper currency. Chinese also like to speculate. The average Chinese is taught time value of money and introduced to saving habbits practically right after birth. The first thing family members give to the new baby is GOLD. Gold ingots, bracelets, piggy banks. Gold..and cash. I lived in Taiwan and China for close to 20 years. My wife is Chinese. China is gobbling up BTC for these reasons:
1. They look at history as a reflection of the future. They all know the history and demise of the world's first paper currency as it is and integral part of China history.
2. The average citizen understands the phrase "currrency wars", most have speculated on currency before.
3. The majority of high school or higher education all understand central banks are embarking on a race to the bottom and that inflation will hit, and that paper currency will not hold value.
4. Average Chinese hold on to real estate for long periods of time (sometimes generations), and prefer holding a mix of different hard assets to cash in general.
5. BTC is a hedge to the average Chinese. And they all expect it to go up, significantly.
6. There are probably 300,000,000 people in China that would speculate 1,000 USD into BTC very comfortably and not consider it any more risk than Bacarat tables in Macau. Do the math how many does each one get of the 12 million BTC.
7. Chinese want a way to get their money out of China without being spotted by taxman / regulator / boss / politician. BTC takes care of that.
8. Chinese like to travel. BTC can be used for that.
9. When Chinese travel in general, they always save the "coinage" and extra bills instead of converting back to RMB. I found this most peculiar when I started traveling with Taiwanese business guys in the early 90's. Then I started doing the same thing. And low and behold eventually my safe was full of a significant amount of currency and some trips I would not need to change any money at all. They think of it as a hedge as well as one less transfer fee. BTC is just an addition to that pile of savings.
10. As Chinese in China gobble up BTC, all the 2nd and 3rd generation Chinese expatriates will take notice and follow suit. Chinese are proud and watch trends in the "Middle Kingdom" for generations after leaving.
Enough said. But there are way to many reasons BTC will continue to rise. I suspect 10K price in 2014. When 1 billion people have bought in even in small average amounts will there be a lot of naysayers on ZH? Probably. LOL
You don't know most/any of these persons, or what they actually think or do; you only know what they say...
Which persons are you referring to?
Saving in Bitcoin after the price has quadrupled in the space of 3 months? Cajones doesn't even cover it. You would have to be out of your mind crazy.
I mean, if gold quadruples in 3 months, do you think I am going to be sitting on my gold??? My only worry would be that the worst is yet to come, so I might only sell HALF.
Maybe I should refresh you on what you wrote:
I shared that belief a while ago - obviously, my comment was junked by you-know-who...
I think you 'misunderestimate' the lethargy and lack of creativity of the genus "govt employee". They are by definition not creative. BTC is what it is. There is no do gooder ness to it. But even if there were, do gooderness is still a property more likely to be found outside govt than within.
Anything that plays their financial system to our advantage within the rules given us works for me. I like anything that gives us individual sovereignty outside the machine, even if temporary.
"The BTC haters really need to let it go."
You know, I would venture to guess that's the exact same thing the Hollandse were saying about tulips in 1637.
Gold n Silver Dudes you're trying to convince us your studs coz you're fucking Roseanne Bar. Maybe at some stage you can't see the real hotty coz you're just so in love.
hey good luck with Roseanne though she seems funny.
You don't get it. There is no envy or jealousy or competition. Bitcoin is flawed because it facilitates the transition of society from a physical tangible realm to the digital virtual realm, exactly where the corrupt oligarchs want us to end up. Easier to control us when all they have to do is hit a key or flip a switch.
There is nothing on this earth that will ever convince me to trust the oligarchs who have control over most everything digital, with all of my savings / wealth. I understand the distinction about cryptography versus openly vulnerable, but it's then just a matter of time.
In fact, I want to resist with every ounce of my being against this heist. It might not be your personal wealth that's stolen, but like the steps towards the creation of the central banks, robbing people blind, you are enabling devastation of future generations. It takes steps, but it ultimately happens if people don't remain vigilant.
Really think this through before you and others proceed further.
Dude loosen the foil hat before you have an aneurysm.
Where is Xenofrog.. only comes out at the bottom of corrections. My favorite indicator.
The digital realm has enabled free sharing of information across the globe. Now with Bitcoin and other crypto currencies, it will enable FREE trade across the globe. These are examples of people empowerment, not empowerment of the oligarchies or the status quo. If we want to evolve as a species on this planet we have to cooperate as people, not as governments or as nations. Digitizing trade and information is leading us there, slowly but surely.
I like your post. I think you presented valid concerns and you are fighting the good fight. I just happen to think that Bitcoin and PMs are on the same side, fighting together. I don't know how to convince you of this, however. I guess we just have to wait and see how it will all play out.
I know one thing, if you don't hold it in your hand, you don't own it.
Ranger4564, I'm glad you've explained it that it's about "physical vs. cyber", rather and a PM vs BTC competition/jealousy. Fair enough.
But why do so many here have to be slaves to the over-simplified, either-or mindset? Why can't the Naysayers just accept BTC as "part of diversification out of fiat"?
Insofar and as long as Naysayers avoid this Diversification strategy (allocate as it makes sense to YOU and YOU can afford), I argue that their opposition is either poorly reasoned or based on irrational (emotional/psychological) obstinacy, not reason.
And no, I do NOT accept the Orwellian premise of all the world governments uniting to... "flip that switch", as you put it. If they haven't been "united" in all of human history, it's a fair and RATIONAL bet that they won't in your lifetime. If you like rational bets, that is. :-)
BTW, I own more phyz than is prudent for portfolio balancing, and am looking at BTC as a "hedge against the Dollar and all fiat currencies". Like any rational investor, I plan to buy some % for Investment, and some % for Speculation, but only to maintain Portfolio balance in Primary (Real), Secondary (Stock) and Tertiary (Paper & Cyber) assets. Surely the rational investor has no issue with holding some BTC, since they'll realize little downside risk, but acquire a lot of upside potential. This would be the rational and pragmatic thing to do. All else is dogmatic, ideological or irrational -- to which everyone is entitled, but may have a hard time 'selling' to others.
Face it, you're a bunch or idiots that couldn't grasp Bitcoin or the genius of Satoshi if you tried.
Well, they're not precisely idiots.
They see gold, not as a tool, but as an idol: Whatever isn't gold is evil and must be destroyed.
It's not a brain problem, but shitty mental software.
You can fuck off with your theories CH1. You hated francis_sawyer for his posts on Central Bankers, the BIS, Wall St and evil fuckers like the Rothschilds. According to you, we are all "anti semites" for believeing that kind of thing. Now all of a sudden you love "free markets" and "alternative currencies" like BTC while at the same time bash gold and silver. You are so full of shit it is coming out of your ears.
LOL... I think every statement contained in that rant is false. To hit just the highlights:
Sawyer was an antisemitic troll. And yeah, I dislike antisemites. I dislike haters of all types.
I LOVE silver and gold.
I've always loved free markets - that's why I love Bitcoin!
Have a nice day.
There's as much freedom in bitcoin as there is in CCs... and people loved these, too, when they came out.
Btw, semitic, just like celtic or anglo-saxonic, refers to a language group, not to an (inexistent) ethnic, or even cultural, group, so, at most, there could be a coincidence there, but, as you know, correlation is no causation, so anti-semitic makes no actual sense whatsoever.
Sawyer was a troll? That didn't like Semitic people??? Really? Because I fact checked everything he ever posted...
Youre a hypocrite of all colors, races and religion...that much is clear. You are a hater of truth.
You love PM's? trololololo....check your own posts you asshole.
No one hated Tyrannosauruses. They disappeared because they were eating too much.
Look if this shit becomes "real" as a massive economic tool then we truly are living in the matrix and I for one have no interest in it.
I seem to have struck a nerve. I also got in at $26 and got out at $400.
Even more angry yet? Pot boiling over?
Everyone's a fucking investment genius on the Internet. Did I ever tell you how much gold I bought at $35 an ounce? One fucking million ounces. Or maybe it was a bazillion ounces.
And trolls are never around long enough to see all the mistakes. I while ago I posted the fact that I invested in shit stocks that went to zero, a long time ago. Yep, 100% loss. That's how you learn. Of course, don't let reason stand in the way of your anger.
Really, huh, I can't recall any of your previous posts. They must not have made an impression on me. If I'm a troll, I'm a persistent one having been on ZH for over 4 years, which is longer than you, Sport.
Anger is not the emotion I feel. It's more like amazement that people never learn anything from (recent) history, i.e. the dot-com bubble or the housing bubble. Oh, and here is a logic test for you: (A) Only dickheads brag about investment gains in public. (B) ACP bragged about his investment gains in public. (C) Therefore, ACP is a ........ (fill in the blank).
OK, I won't brag about my investment gains anymore. I'll just brag about how many times I went to your mama's house last week.
@Fonestar - Dude... What's your deal? The fucking thing is skyrocketing & you have the bitterness of a goldbug that bought at $1900! You either need to go rub one out or take a couple Zanex... you're parading around here like a cocksucker.
No shit...fone doesn't have to tell everyone who disagrees or doesn't understand to go F themselves. He's pretty much killing my BTC curiosity all by himself.
The genius is in fucking you in the ass everytime a bit coined is mined. You just make that asshole richer.
the bitcoin has a value only as long as people accept it as a currency. Fiat currency as well. AT this price, Bitcoin is the last thing I would invest in.
I wonder if BitCoins could end up like Beanie Babies? You know "we promise this is all we'll ever make- they're limited edition and therefore, valuable." And then they flood the market with more of them.
Just saying... a man made it, a man can make more of it.
Don't get me wrong, it's been fun. Riding from 49 to over 1000 WITHIN ONE CALENDAR YEAR (my first 20-bagger EVER!) but at what point does to lure prove too tempting?
I'm totally investing/speculating on this. I bought some Bitcoins, I bought some litecoins. Heck, I may even buy into every other digital currency coming up soon, it's very easy to create another, but the point is it's speculation, it cannot and will not replace any individual Nations currency.
Yes anyone thinking crypto-currency like bitcoin is going to kill local currencies and Central Banks need to get their heads checked. It ain't happening. As long as there is sovereign states there will be local currencies in those sovereignties. It is the SWIFT banking system and global and local digital commerce transactions that this is going to be disruptive to. It may ultimately prove disruptive the Central Banks manipulative ways with interest rates and the stock market since money always flows to the path of least resistance and bitcoin is easier for anyone to get into than investing in stocks or bonds plus at least for now that little problem of low interest rates is probably helping pump up bitcoin for US investors. Let's face it besides the speculative nature of this it does serve a need to facilitate digital commerce and provides at least for now some protection as far as doing business online without having to use a bank account. The other thing people seem to lose sight of it is global it doesn't fucking matter how the US deals with it if the rest of the world adopts it then they either have to go along or lose out. All those younger savy types that got Cyprussed in Cyprus that adopted bitcoin when it happened are probably doing quite okay right now while others are sucking wind over there.
The end result is as the internet protocols are going to be rewritten to reflect the fact the internet is no longer strictly a communication network but a distribution network the new standards will have a universal crypto-currency coded right into the standards that is part of the very network itself.
That is going to be the end result of the evolution of the internet concerning crypto-currencies. There is no logical reason for it not to happen as long as it is used as a distribution network and commerce transactions continue on it on a global scale. It won't be the only currency in the world just think sovereign currency and the sovereignty is the internet as an entity.
My favorite misconception is how people with narrow views of things can only see bitcoin in their own narrow fields of vision. It is fucking internet currency and the internet is global it is not local therefore local rules won't apply everywhere even though plenty of commentors here apparently think so.
$110MM is pretty impressive. Unless you've got the means to print 85B -- per month, every month.
Would it be too weird to think that the TPTB would dabble directly in the BTC market? Devour it whole? Drive the price stratospheric and then chop it? I mean what would it cost them -- really?
Compliance officers at Pension funds are trying to guage this at this very moment. ZH posted a week or so back that pension funds are soooo underfunded that the need to generate something like 16-18% YOY NET to meet obligations in the near future. The quest for yield is going to start creeping in the crypto-currencies.
High net worth clients are already about to go full retard on the BTC crazy train soon. Fuck tax loss selling -- it's going to be BTC buying.
Sorry, havent read all the comments yet, but did anyone notice that #'s 22,23, 25,26 and 29 all had their last transactions at the exact same time? Obviously I dont know how this chart came about, but either somethings fishy or its glitch in the reporting, no?
I can guess what the haters will say, but what about the BTC lovers? CH, fone, is there an explanation for this? (I'm not hating, I'd really like to know if theres something simple I'm missing)
And the amounts all end in .04110000.... Why 411? Could be a code of some kind to the owner. 411 is a "self number" the 44th self number actually. Or is owner referring to directory assistance ;) Could be a flag they have dirty roots. Could be a flag they have clean roots or were mined. Could be a flag for same or similar passphrases. Who knows but the surely look linked!
They're like the one percenters of the extremely-encumbered-digital-money set...or sumpin.
The good news is, no moar bubbles ;-)
I had that same experience when my life coach switched me from baths to showers.
I enjoy a nice hot bath in my tub over a simple shower, it relaxes me after dealing with all the BS in my line of work. What's with all this "life coaching" stuff?, my GF has been paying $50/week for a 1-hr phone talk session with some "trained" life coach fool since before I met her. I need to start charging her for real life sessions.
I meet all knids of folks in my journey as a casual observer of the human condition. And many of the most interesting in the oddest of places under the most dire circumstances.... for that's where the truth shows through when the thin veneers of civilization and false pride have peeled away.
One of the interesting ones is a life coach. A lady who claims to render professional advice of sorts to a passel of followers over the mass media of a form, offering her most insightful contemplations upon how they should view life and manage their very own under her tutelage.
Unfortunately, she herself is in dire need of both serious professional psychological help and a good hard 12 step experience.
I have concluded the utility her advice to be roughly equivalent as that of Paul Joseph Goebbels. She represents my most vivid example of the modern Life Coach.
Anyone remember the lesson the tulip ? It was so rare until someone discovered how to replicate them in masse. Only time I am going to say it (again!), before you really really want to invest your assets in Bitcoin make sure you are aware the block can be compromised by a rogue fork.
Nothing will suck more than when a rogue blackhat realizes that he can push a compromised chain out into a botnet that only is used to generate large volumes of chains through harmless quick transactions. The objective of this is to replicate and replace the existing chain piece with his compromised code (where he can either adjust the volume of coins registered or the keys). When his existing chain has enough critical mass due to volume propagation it will overwite the main chain and become the new ‘ledger’. It will be pretty damn near undetectable unless someone is actually checking the hashes of the old ledger to the new block, but since there is no central clearing to check the tickets, this will never happen.
There have already been two proofs of concept of the ability to compromise the master and cause the market structure to question which is the ‘correct’ chain by using pay by the hour botnets in the FSU. Go on, google it. Seriously.
Or whatever, Turkey Thursday is upon us.
I didn't comprehend most of what you wrote but it sounded intelligible enough to me to give you an up vote!
F-ing rogue blackhats pushing those compromised chains into botnets! Grrr!
Mr. Rat, please take some time out from your turkey and elaborate on what you posted here. I'm interested in Bitcoin and I understand its potential, but I'm concerned about the issues you discussed. I have fair to middlin knowledge about the technology behind it. Please help. Thanks in advance.
Short of launching WWWIII, hacking Bitcoin would be the prettiest feather in any hacker's fedora. They've been banging on it for 4 years so far and results have been nil. Sure, a rogue hack is part of the risk sheet of Bitcoin. I certainly hope nobody ever lead you to believe Bitcoin was a risk free investment. Far from it, hahaha!
The question is how unlikely is such a successful hacking? How damaging would it be? Should you risk 1% of your assets on it, or 10%, or more? This is the direction the discussion should be going, I think.
Good point. With every passing day the risk of a hack decreases, it seems to me, and has been given the crypto-stamp of approval by relevant experts. Also to be weighed in the risk balance is possible Gov't regulation, how much the marketplace will come to adapt to it, future market volatility and possible crashes (ref: Presenting The BitKillers), etc, etc.
and since the government is in the hacking business.. watch out.
you had me at rogue fork ...
We'll see about that won't we?
Except it's the top 100 WALLET Addresses , not necessarily an individual. From the last dates on some of the line items, a lot of those addresses are more likely to be a single individual. I'd bet maybe 10-15 in that list if that.
"Looks like a totally normal market to me, seeing as NOT ONE of those individuals bought after May 2013."
Correction: not one of those individuals added to THOSE SPECIFIC ADDRESSES after May 2013. A person can have as many addresses as desired, there is no reason not to have multiple addresses and multiple wallets.
And said person could have wisened up and spread it much more thinly over many more wallets to stay out of this very list.