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The "Google Maps" Of Bitcoin Has Arrived
Submitted by Michael Krieger of Liberty Blitzkrieg blog,
The past several weeks have seen the emergence of several innovative and user friendly websites related to Bitcoin specifically, and crypto-currencies generally. The first was FiatLeak.com, which shows the amount of BTC purchased and where in the world those purchases take place in real time. Then we saw CoinMarketcap.com, which calculates and ranks the ever-changing market caps of the more than forty virtual currencies being traded out there.
Now something else has been brought to my attention. It is very different, but just as cool and potentially much more useful. The site is CoinMap.org and it serves as a sort of Google Maps for Bitcoin. The site attempts to plot the various brick and mortar retail locations across the globe that accept BTC. When you see your target area you just zoom in and it will give you a closer view of the city in your crosshairs and the name and website of the businesses in question.
It looks like this (click on the map to get to the site).
According to Coindesk, this site was only showing 552 on the chart as of early November. With 1,397 on the map right now, you can clearly see the incredible growth dynamic happening in the Bitcoin economy. Sadly and somewhat surprisingly, there are none in Boulder but I am hopeful that will change very shortly.
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let's do this....
to bad I can't open the viewer on my iPad...
so tell me... are all the subways and that polish dentist on it?
I'm in!
I'm going to sink a good portion of my hard earned wealth into the computer so it can reside somewhere in cyberspace. Cyberspace has been proven the be absoultely safe. Yes, I want my hard earned wealth some place where I can't see it, touch it, and secure it myself. I heard that whole NSA web spying thing was just a prank anyway.
Only 2 percent of dollars are physical. The rest are in cyberspace. Dopey.
Just saw this updated, it was published on RT yesterday.
http://www.dailymail.co.uk/news/article-2517244/Illegal-online-marketplace-replaced-Silk-Road-VANISHES--taking-100MILLION-users-money-it.html
For real?
Drug dealers have never ever been robbed before bitcoin. Neva eva
Just about the time I'm going to write something profound on the topic, helicopters are flying back and forth, back and forth over my house.
Disturbing.
Are there going to be Bitcoin meetings , like Federal Reserve meetings?
I'm sure they already are collaberating. Bitcoin has been centralized by a few dominant players.
I emailed Satoshi Nakamoto to ask a few questions regarding his crypto-digi currency...
i'm still waiting to here back from 'him.'
.
I sent the email 6 months ago...
As fone says below, you can pay your bills via the interweb? Is that kinda like, PC banking, or buying something with PayPal?
Not that those haven't been around for 12 years or so. This Bitcon thing sounds revolutionary. lmao.
If you can't tell the difference between a fed-friendly entity like PayPal and Bitcoin you're a fool. Just go away becuase people like you could never grasp Bitcoin.
Only a fool would trade hard earned cash for something infuckingvisible.
We will see if all the Bit Tards are still enthusiastic when they loose their entire investment in Cyberspace.
"hard earned cash" ROTFL mind control victim. Your cash is about as hard as a soggy soy dildo.
The earned part is hard. Not the cash. You know, like actually working, instead of being first in first out of a ponzi.
No wonder you cannot understand it.
Must we take your ass to school again, book pumper?
pods
By the sounds of it the only lesson from school you learned was to fear authority. I mock your fantasies.
"If you liked the trillion dollar coin idea, you may get it shoved right up your ass yet."
-- Barry O.
The Obama Administration Is Actually Serious About The Platinum Coin OptionThere's no difference between the Treasury minting a few trillion dollar coins to write off some of the debt, and the Fed buying the same amount of debt and forgiving it, which is almost certainly the plan.
Actually, the coin idea is a bit better - at least for us - because (presumably) the Fed's owner's won't get their obligatory 6% cut on the 'profits'.
So it probably won't happen.
So with Bitcoin, which argument are you making fone:
1) Ease of internet payment system (PC banking?)
2) Store of wealth (farmland?)
3) Privacy in transactions (NSA has no clue?)
4) Replace all fiat as a new international, borderless currency (USA will just say OK?)
5) Speculative ramp for early adopters. (Ponzi?)
My bet is for you it is 5), because all the others blow huge holes in the Bitcoin premise.
And if it's 4), man you're betting against HUGE odds.
Early adopters does not imply ponzi, only advantage. My theories have so far been proven correct and are based in simple logic, not human expectations or hopes.
Just as I thought. You're an ealry adopter trolling for capital gain. Nothing to add, only to take. Nice.
I entered Bitcoin for philisophical reasons and because in IT you go with the superior technology. It was the easiest decision I made in my life getting into Bitcoin.
Easier than getting out at $780?
lol
Assets and currencies always settle out to their intrinsic value.
The intrinsic value of bitcoin is what?
The intrinsic value of Enron was what?
The intrinisic value of Madoff's portfoio was what?
The intrinisic value a Federal Reserve Note is what?"
What do the four things above have in common? Hint: rhymes with 'Fonzie"
Well, I wouldn't get too smug here, because the 'intrinsic' value of gold is - to a large extent - predicated on investors' faith that it will be remonetised if/when fiats finally blow up.
Which may or may not happen.
Picture this: in a few years, the USD/GBP/Yen/etc are all going up in inflationary smoke. BTC is trading at $25,000. Then our beloved overlords announce 'SDRcoin'. It's international. You can pay your taxes with it (sorry, let me rephrase that: you must pay your taxes in it, or get thrown in a cage). Our overlords are so confident of SDRcoin that they're all going to sell their gold reserves (a la Gordon Brown).
What do you think happens to the 'value' of gold then? And don't give me some sophomoric bit of sophistry about how "gold's value is constant, it's fiat that is volatile": What do you think happens to the 'purchasing power' of gold then?
I hold gold (and silver) because I still think (ie, have faith) there's a good chance they'll see me through the inflationary bust that is likely to come... but nothing is certain in this life, is it? And fuck knows a lot of powerful, ruthless, and clever people's privileges depend on gold and silver being mere commodities, rather than what they should be: money.
6) All of the above.
If bitcoin is too expensive for you, there are a lot of other cyber-currencies out there;
Litecoin
PrimeCoin
PeerCoin
Feathercoin
MinCoin
SolidCoin
Devcoin
WorldCoin
CopperLark
mcxFEE
Fonestar is right on the mark.
Bitcoin is going to be a major problem for the Fed, but there is nothing they can do about it. That is the simple beauty of bitcoin - no central banks can control it....
....and you forgot BBQcoin!
But seriously, the only real contender as of yet is Litecoin.
They're all generated by the Federal Reserve.
Now prove it idiot. Fuckwits like yourself piss in the pond of perfectly valid conspiracy.
Get a life and stop trolling.
List of cyber currencies, according to their current market value;
1 Bitcoin
2 Litecoin
3 Peercoin
4 Namecoin
5 QuarkCoin
6 Megacoin
7 ProtoShares
8 Feathercoin
9 WorldCoin
10 Primecoin
11 Novacoin
12 Freicoin
13 Infinitecoin
14 Anoncoin
15 Terracoin
16 CryptogenicBullion
17 BBQCoin
18 Zetacoin
19 Ixcoin
20 Devcoin
21 GoldCoin
22 Digitalcoin
23 Yacoin
24 Tickets
25 Fastcoin
26 Copperlark
27 StableCoin
28 I0Coin
29 TagCoin
30 BitBar
31 FlorinCoin
32 Mincoin
33 Luckycoin
34 Franko
35 Phoenixcoin
36 Bytecoin
37 CraftCoin
38 Noirbits
39 Elacoin
40 Argentum
41 Junkcoin
42 Colossuscoin
The size of that list is why Virtual Currencies will never be "currencies." Think about it.
Most of these are just minor variations and forks of Bitcoin. Some are jokes and some are experiments. All of them are currencies as long as some people accept them.
There were some 400 companies in the early stages of both the automobile and the personal computer. Then came the shakeout, i.e., the market settled things, as it always does.
Cryptocurrencies are no different.
Get used to it.
If a branch of the military industrial complex stands accused of going to such effort to control global narcotics through vertical integration that it invaded and occupied one of the world's major producers, with all the attendant implications and consequences, then what makes anyone think they would not be likewise interested in controlling a conveniently anonymous medium of exchange that seems to be conducive to illegal trade? Anyone who perceives BTC as somehow "Safe" is simply not thinking. BTC is a sophisticated trafficker's dream, so the biggest traffickers of all are bound to show interest.
@ Knukles: I had the same thing over my neighborhood last week. If you live near an airport, it's probably a training flight.
Sure. Just as soon as you stop spreading FUD about the strongest currency on Earth.
Speaking of trolls akak...have you seen how far over the top this "Geruda" character is going?
You've been summoned by WB7 here.
This time of year messing with Banzai's creativity is not cool. Time for a bash-a-thon I'd say.
"That is the simple beauty of bitcoin - no central banks can control it...."
Which will be the reason they will regulate it. It's got a huge target on its back at the moment.
The odd thing is that fone does see the inverse of his argument.
If you can buy (or even value) bitcoins with FRNs they damn well do control it.
He is just another pumper trying to puff his book.
Wake me up when I see a job paying 6 bitcoins per day/hour/week/minute (depending on how the value is gyrating).
pods
I've already told my employer that I would prefer to be paid in physical silver or Bitcoin. They just looked at me and said that that was not possible. How many of you have done that? This is about supreme philosophy and not profits, to be the existential rebel Camus and others spoke of.
I tried asking them to pay me in Beanie Babies back in the late 90s. After seeing their reaction I haven't had the balls to ask for payment in anything other than dollars since.
And by the way, your employer now thinks you're a whack job. What did that accomplish?
I warned my employer about the rise of Bitcoin in summer of 2012. They ignored it and regret doing so. I then told them if they want to be in the tech sector and dismiss emerging technologies they are in the wrong business.
Must suck going through life a coward who stands for nothing, begging for crumbs from the state?
"Must suck going through life a coward who stands for nothing, begging for crumbs from the state?"
Sounds like the words of someone who has an arguement without much merit, and feels weak.
Let me guess, now you are crypto-anarcho-unemployed.
Just curious, how does crytpo-anarchy and OKPay Mastercard work(You posted above you are setting up an OKPay account).
The problem is not with the Luddites as you say, but pumper/dumpers who treat Satoshi as God.
If you are so brilliant, I'm assuming you are helping in the development to plug the holes in the transaction protocol now, right.
The hard reset of Bitcoin1.0 is coming sooner than expected and Bitcoin2.0 looks an awful lot like a (crypto-)central banking system in order facilitate transaction time reduction, harden the blockchain, master trust entities, etc.
Whomever owns the last mile, owns it.
Exactly.
"Wake me up when I see a job paying 6 bitcoins per day/hour/week/minute (depending on how the value is gyrating)."
One step at a time.
1) Merchants accept Bitcoins though an intermediary like BitPay. Their customers check out in BTC and the merchant receives USD right away. The upshot for merchants is that they get USD as they always have, but they don't need to pay fees to a credit card company. No knowledge of the workings of BTC is necessary to accomplish this step. It's completely transparent to them.
Once wide adoption of Step 1 is complete:
2) Merchants realize that their suppliers are also accepting bitcoins, and that they can often get a discount from those suppliers when paying in BTC because of the lack of transfer fees. They remove the BTC->USD intermediary and can shuttle some of their BTC directly from their customers to their suppliers.
Once wide adoption of Step 3 is complete:
3) By now most merchants have BTC coming in and BTC going out. At this point, it's easy enough to offer salaries in BTC directly and have takers, especially when BTC income can be made untraceable and untaxable.
We're still just beginning Step 1. Give it some time.
Thanks for the reply. I am not against any competing currencies to any of the central bank controlled ones. Only against pumpers.
Sadly, I do not think that our social structure will last long enough to see your scenario take place. We are at the end of a debt and easy oil fueled boom, and it is going to be painful in the years ahead after the bust.
A decentralized currency would work well for exchange. But a decentralized currency that has no barriers for entry (like all mentioned) makes for a game of musical chairs. Say Bitcoins become scarce due to their store of value? Then the market switches over to another, and Bitcoin dies a quick death while everyone moves to another currency, leaving those who used Bitcoins as a store of value broke.
At least with PMs there is a long track record. Sure there is little utility in them, but that is double edged. Normalcy bias holds for those as well. Just because they have held value over millenia does not mean it will continue to do so.
I see a scenario where the scarcity in any favorite crypto-currency leads to it's downfall. The most accepted crypto will be hoarded and seal it's own fate, as there is no real barrier to entry in this market.
In short, there is no good answer to our dilemma, and there will always be those who wish to profit off the work of others, namely the money-changers. And they play by different rules than most people.
pods
I've said before that whether you should buy precious metals or bitcoins depends on whether or not you expect the market to outrun the state. In a sense, Bitcoin is optimistic and precious metals are pessimistic with respect to the future.
I own both.
All asset classes compete with each other: real estate, stawks and bondage, metals, gems, art, now bitcoin and other crypto currencies. As far as crypto currency competition, the things I watch are: market cap (dominated by bitcoin), merchant acceptance (dominated by bitcoin), and security hashpower (dominated by bitcoin).
Market cap: A successful crypto-currency needs to be able to support many business-to-business international escrowed transactions simultaneously + consumers/savings.
Merchant acceptance: reference the current ZH article.
Miners: Miners are not stupid. They've invested sometimes great sums in equipment. If they start to switch their hash power over in the hopes of acquiring a different crypto-currency, I will jump the fuck up and pay attention.
@Saro- yes & well said.
I am a merchant only interested in gaining customers that I might not have had with those people like Fone that got in early and might wish to employ our services. I don't care what the price is-like you said with BitPay or Coinbase it works right away to USD.
Respectfully I don't think it will be a major problem for BtC when the .gov comes in to regulate+=tax. They will tax the merchants (like me) which I will have to pass on to the customer or eat it. Bitcoin has an advantage with the velocity of money effect that will help GDP.
Wait, people are up-voting MillionDollarBonus?
Now I've seen everything.
Wait, just noticed, he's the Bogus. Damn. I felt like I spotted a unicorn...
He won't be answering, wisely he/they disappeared as bitcoin began to grow, learning from the experience of others like e-gold and Liberty reserve that you're better off not being a target for governments to throw into prison.
In any case it's not "his" currency, it's everyone's. It's open source, so anyone who bothers can learn any detail they want about it.
What were your questions? I may be able to answer some of them.
Hey Seek! Thank you again for the leg up- I'm using it to set up the Coinbase/Bitpay accounts and see how they operate. OK, I also bought a few small things... (research!).
It's open source. If you can't understand how it works, find a 14 year old and have home explain it to you.
Pffffffttttt....
This site is stupid. It isn't a web site. It's a map. Anybody can take a google map and add 800 icons a month to it. This actually demonstrates how useless Bitcoin is as its intended function.
This map has 1 place within 20 miles of me that accepts bitcoin. And I live in high tech land.
It is a photographer.
Yeah, sure, Bitcoin is a "currency" LOL.
Are the Tyler's being paid to promote this?
Bitcoin is a speculative "greater fool" bubble and nothing more. Talk to me when I can do something offline with it, other than get my pic taken by a techie photographer who spends more time on the Internet and engaging in get rich quick fantasies, than he does taking pictures.The greater fool is the one who owns no Bitcoin and whines and bitches when the cartel doesn't allow his silver to rise in value in reltaion to a currency his enemy (which he secretly loves) controls.
Fonestar you are a clever troll.
LOL, nice way to deflect and sidestep the criticism, ponzi pumper.
(actually intended for fonestar)
The number of merchants that accept bitcoin as a payment method is increasing at an increasing rate. This can very well lead to a phase change in 2014/2015.
Might be one of the first times I've got in on something early!
I couldn't find a marker for Martinez my blow dealer who is usually down on the corner of 123rd and Elm. Shit ain't mainstream yet.
But in their minds dollars are "real" because some peon at a local branch still lets them touch cotton-linen dollars.
Lulz at the simpletons.
I explained to you a while back about how bitcoins is like exchanging one virtual currency for another.
I agree. So you can choose a nationalist, inflationary virtual currency or a anti-nationalist, deflationary virtual currency.
There you go again with that binary arugement. I thought you were smarter than that.
Not really, even I own some paper dollars (well they're plastic now here in Canada) in the event that I am forced to interact with legacy people in the p-world.
Oh, so you're a citizen of Canadia --- that explains a lot.
I am a node on the network.
Then assimilation is inevitable?
Just like digital currencies, more specifically a single digital currency is the wet dream of TPTB?
Please, this is getting old...
DaddyO
LOL at your simpleton fantasy to get rich off your 1 bitcoin.
If everybody was as ignorant and easily fooled as fonestar, bitcoin would be $1,000,000 by now. Luckily, only gamblers, get-rich-quick chasers, speculative bubblle pumpers and those too simple-minded and ignorant to discern the difference between a temporary bubble and something real are dumping what little they have into fraudcoin.
I can't believe the ignorance and intellectual immaturity displayed by some in the techie world that have gotten fooled into the whole Bitcoin sham.
It is clear that the ability to manipulate bits and bytes on a computer does not equal wisdom, or even street-smarts. Such is the sad life of Bitcoin worshippers.
Those that pump Bitcoin envy the criminal banksters, which is why they are foolishly pursuing their own criminal bankster enterprise. My how these simpletons' feelings will be hurt when their heroes, the original Wall Street and Washington Paper and Fiat Pumpers crack down on them for trying to invade their turf and emululate those they love so much.
BTC is merely another extension of something-for-nothing culture: a virtual tulip bulb.
Something for nothing? If I give someone something for a tulip bulb how can that be something for nothing? There are a lot of businesses that accept Btc, not so much tulip bulbs.
Suggested reading:
http://www.investopedia.com/features/crashes/crashes2.asp
https://en.wikipedia.org/wiki/Tulip_mania
Agreed, around 2% of FRN's are physical, and the rest is virtual.
Why would someone have any of their wealth in FRNs? Dopey.
What are you paying your Internet bill in? Gold bullion? Soon enough you'll be doing it in bitcoin. Dopey.
In China they already are paying the internet bill in Bitcoin.
As in PC banking circa 2001? lol.
So as the value rises, their payments in BTC get smaller and smaller? Or is the amount on the bill consistently the same in BTCs?
because it is impossible to convert Yuan to BTC in real time.
I'm paying mine in the US banking system's version of bitcoin.
All the more reason NOT to be in another cybercurrency.
Yes, the blockchain is totally safe and I personally store a significant portion of my wealth there.
I'm setting up OkPay so I can trade some Fiats for some Crypto's.
This could be fun. I only plan on 2K initial dabble probably hold more Feathercoin and Litecoin swapping into Bitcoin only if required.
Ultimately I think these exchanges e.g. Crypto-trade should price the coins closer to their utility value with perhaps some name brand recognition for say a Bitcoin.
The biggest risk I fear is the government taking an interest when there is enough transacting and not enough taxing.
Trying to get my Okpay setup just so I have more options on localbitcoins.com.
Opened the site nicely on mypad
I'll tell ya what's on it
Gift cards through Gyft a 3% discount (try that through any other payment method)
Metals through amagi metals.com, plus many others (stocking up, BTC high, metals getting pounded... again)
Online shops like Bees Bros, Teavana, adafruit, and many others that had great Black Friday specials (Christmas shopping - done!)
Don't make it sound like its a sporadic few unknown merchants. This shit just got real.
I see that you have been commenting about bitcoins. you think that they are awesome because you bought them when they were a dollar two years ago. now they worth more than 1000 dolars. good for you. you made a huge profit. but dont lecture people about bitcoins. what have you produced? nothing. but the price went up 1000 times. this is a new way to steal peoples labor. hard working people are trying to make a living each day for a dollar or two. dont lecture me about federal reserve. they have been printing money. what have you been doing? mining bitcoins... some dude bought 100000 bitcoins. and now he is worth 100 million dollars.... he was on keiser show. see how he is happy about bitcoins. thieves... nothing more....
crying sheep... nothing more baaaahhhhhh
Enjoy it while it lasts, but we all know that the world's governments will take steps to regain control if it ever looks like this has a chance of realistically getting in the way of their little fiat party.
Governments are powerless.
They know just about everything about everyone who plays online or uses any sort of electronic credit or banking. That information is very real power that they can flex as they see fit.
In a world where governments claim limitless power to avert crises or emergencies, everything becomes a crisis or emergency. Especially something that threatens their power to tax, or to control. They've already set the stage for a takedown of these digital currencies by trumpeting that they're used for drug transactions, etc.
Wrong.
Governments are just dumb people filled with words controlling even dumber people armed with guns controlling even dumber people filled with fear.
Your post pretty clearly notes that they do in fact maintain control and power over the mouth-breathing masses, and takes the extra step to describe how it's done. That's the opposite of presenting a valid argument in this situation.
Fear is a voluntary state of mind. Bitcoin is a voluntary currency.
Is that supposed to make sense?
Wake me up when bitcoin empowers the people of the world to shed their fear of the unknown world around them. When it wakes them up to realize that the terrorist or drug dealing boogeymen are just that. When it shows the people of the world that they can stand on their own two feet, but also gets them to respect that doing so will require that they live with the results of their own failures. Let me know when bitcoin strikes true fear into the hearts of the politicians and central bankers. Until then people will live in fear, and politicans and their promises will do everything they can to keep them afraid and powerless.
For the record, more power to those of you out there who want to push bitcoins into the mainstream, and who have the balls to put your cash into it. Just don't let your hatred of the fiat world we live in - and your desperate desire for an alternative - blind you to bitcoin's problems and limitations.
It's easy to "take a stand" when the IRS goon-squad isn't kicking down folks' doors at 3:00am. If/when TPTB actually make a real move against alternative currancies - then we'll see how BC holds-up.
Some of fonestar's posts deserve to be saved so they can be thrown in his face in a few years.
A few years, ha, how about a few months?
DaddyO
You still haven't pointed out what will take Bitcoin down?
The governments of the world will. We've been saying it all day, you just refuse to accept reality.
What he said...
If the truth of the situation is incompatible with your reality, oh well, change the truth.
Reality can suck wind, eh? Until it can't...
DaddyO
When did ZH attract a bunch of spineless wankers?? oh that's right, when gold peaked and some nutjobs became bagholders and stuck in their position and mentality
Well now you have resorted to gobbledegook.
I guess that settles that.
No matter who "They" are, as you said "They" have control.
I think control is a rather tenuous concept that rests upon a fulcrum point in the mind of the individual. I could just as easily imagine chaos.
You could, but could the vast majority of the people living in the US, or do they live under a normalcy bias? Most people in our society would gladly cede even more control over their lives to their government if they thought it would keep their standard of living where it is. And if their standard of living were to ever start slipping, there's no doubt in my mind that that very same majority would be begging the government to do whatever it takes to fix things.
I'm not denying that but I fully plan on testing this theory and pushing the issue.
Tell that bullshit to the Armenians in Turkey during WWI, Native Americans post Columbus, Chinese during the cultural revolution, Cambodians under Pol Pot, or Jew/Gypsies/Homosexuals as they were hauled-away in railcars in 1940s Germany - etc. etc. etc. Or when some bully/hoodloom is kicking your ass sideways.
Power over us beyond our control is just as real as our ability to resist it. The outcomes are never certain - but the struggle is real - as are the results.
Whining little cowards. "End the fed" they scream until the knock on the door.
Talk is cheap, eh?
I can't wait to hear what your plan is if/when TPTB start to come down hard on alt currancies.
@fonestar While I find the fervour with which you disperse bitcoin omnipotence mildly amusing, you seem incredibly ignorant about the underlying technology and it's caveats.
Do us all a favour and take some lessons from Seek. At the very least adopt his cool and polite tone of voice.
I am familiar with the technologies underlying Bitcoin. Do you think there is a chance to discuss that here? I'm too busy battling EMPs, NSA conspiracies, tulip accusations, etc, etc, etc.....
Wow! I didn't think it was possible to summarize 2 years of ZeroHedge teachings into a single sentence. That get's my +1 of the day.
Don't spend it all in one place; mind you I heard that Quark was going to re-take .003 this weekend..wink wink
That's actually a great thought right there! Worth quoting!
ehe... they are all powerfull
I like how gold and silver holders talk about fighting the system when it comes to PMs, but when you talk about Bitcoin, you can't fight the government because the government is God.
Doublethink doesn't help you.
Bitcoin exists online and is therefore traceable and controllable, at least until the people of the world figure out how to exist electronically without their governments knowing who they are. It's just another form of IOU whose value is dependent on some larger framework remaining upright. Once gold and silver are in hand they're out of the government's reach, though government can do things to make ownership, if not redemption, more difficult.
it is the most evil way a private bank like the fed would start a cashless society.
Bitcoins represent the devil in my eyes and it should be destroyed!
Unless govt. bans the use of shovels or scuba gear my gold, if I had any ,is safe.
The internet can be killed by flicking a switch ,or the exchanges destroyed virally ,or
even with a denial of service attack.TOR is already infiltrated.
They can ,and will change the rules.Simpler with BTC than PM's.With PMs you can wait it
out, BTC not so much.You are totally reliant on THEIR infrastructure , just as Iran was with SWIFT.
If they don't then BTC is their creation and you will be screwed at their leisure.
My take is that it is their money, people can invest how they choose. I find these "debates" meaningless as they never move off a couple of points and get down the road.
You want BitCoins? Buy them. You don't want them? Don't fucking buy them.
I love alpacas.
Good points Sir Winston. `I would guess few people here have ever been to a country where they did just that - pulled the plug. Burma/Myanmar 2005, all you could get was Burmese govt-approved pablum and I couldn't get an e-mail off to save my life. I lost a client because everything was blocked.
Unsubtle, unlike China. The Tatmadaw (may they rot in shit) just decided they did not want to deal with fresh input of ANY sort in their fair land.
Its about risk. Gold has a track record of 5000 years for holding value through various governments, etc. Bitcoin has what, 4 years? Forgive me if dont drop everything and go all-in bitcoin.
Carrier pigeons have a track record of 5000 years. E-mail has what, thirty years?
No one should go "all-in" on anything, including Bitcoin, gold/silver, or tulips. Diversification is key.
The " government can kill it" and "when the power goes out" arguments are just as funny as the "gold is better because 5000 years and Bitcoin sux because four years" argument.
They are all powerful (in your Dick Tracy comic).
So your argument is that the government really is powerless, and we should all move our "wealth" to bitcoins on that basis? The IRS is imaginary?
I don't even live in your country. I wouldn't want to you don't sound free at all, you sound scared if anything. Most people don't live in your country and don't care about whatever an "IRS" is?
Says the guy from America Jr. Still bowing down to that queen, subject?
Check out that hydroponics company!
Its not moneyyyyyyyyyyyy whaaaaaaaaaaa (crying like a bitch)
So bitcoins will be backed by gold at an escrow account at some central bank.
A shop near me takes bitcoin. Don't know how much trade they get from it.
I'd place a real live bet that it is one trade. The owner of the shop testing the system he got scammed into setting up.
just another money from nothing scam, just like the feral reserve gangsters
Just checked my local BTC family. 2 stores within 70 miles of suburban Chicago.
1. The Illinois Concealed Carry LLC - Range/Shop
2. The Fudge Pop Frog Shop (Rockford)
#winning
If "OIL" ever starts to trade in "BITCOINS" in the major world markets, you will be witness to the complete and total elimination, disappearance, and shut down of all things "BITCOIN" within a 24 hour time frame. The word "BITCOIN" will not even show up on a GOOGLE search.....can you say "PETRODOLLAR" - BWAAAA HHHAAAA
BTC---without some stability is MUTE-NON SEQUITOR-IRRELEVANT!!
The concept is correct.....but that little vice called human nature (ie. greed) will NEVER allow the stability required as a store of value.....like the intrinsic value of a barrel of oil or an oz. of Gold.
Because in the Land of Humans----If you CANNOT HOLD IT and TOUCH IT......YOU DO NOT OWN IT!
First of all why are you yelling bruh? Second, do you need 1 tissue or a whole box?
I am not in until I see one pop up on Madagascar
SHEEP MARKETPLACE!
Puh-lease - too many jokes inherent in this!
Sheep-shorn/fleeced etc.
The early-adopters in BitCoin will either be squashed or will win big. It's the same with any new product.
We all coulda bought Apple when it was 5 bucks.
"...coulda bought Apple when it was 5 bucks."
Or you could similarly buy miners while they're in the toilet. Or any other crap, non-perfoming stock on the off-chance it's worth something down the road.
Bitcoin is the first cryptocurrency, all the others are based on its source code and improve upon. They are very much cheaper, and may be the means of entry to those who think they missed the boat. Chack out litecoin and terracoin for example.
I would pay the extra "premium" for proof-of-work with Bitcoin though, I'd take a few hundred milliBitcoin over a few thousand Terracoin or whatever.
or, better yet, a map of national currency strength,
or, a map of what country's citizens think their currency is worthless,
or, a map of what country's citizens are prepping for financial collapse by separating their wealth from manipulated currencies and stores of wealth (PM's)
The dominant players who have centralized bitcoin have control of the lion's share of the global supply of bitcoins and can spend them for real goods, creating pockets of inflation wherever they choose. If it gets big enough it can keep the dollar afloat by debasing foreign currencies - another strategy for what goes on now with the same results.
right, but the trick here is that once they spend them, not too easy to get more no? Not like big gov and their endless printing press
ZH bitcoin haters have some serious brain damage to not see the difference
Bitcoin is enticing.
It's shame, the energy and environmental destruction that goes into mining gold, which has relatively few uses other than as the ultimate store of value.
The reason gold is necessary is that PEOPLE CAN'T BE TRUSTED -- they inflationary collapse of every fiat currency demonstrates just that. Bitcoins appeal is that it is not a fiat, ie. it's value is by mutual agreement, not by government fiat (dictum). But who controls it? Who can edit the code, set parameters? Someone who can be "trusted?" And is anything secure from the monstrous power of NSA and similar code-cracking computers, hackers and malicious code? I don't think so.