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Bitcoin Jumps As Apple Folds On Blocking Virtual Currencies

Tyler Durden's picture




 

Many people are closely scrutinizing Apple’s policy changes at its Worldwide Developer Conference yesterday, as Liberty Blitzkrieg's Mike Krieger notes that many within the Bitcoin community are focused on a small recent entry within the section on “Purchasing and Currencies” within the document: App Store Review Guidelines that "facilitates transmission of approved virtual currencies." Apple’s brand suffered earlier this year when the company decided to ban the  Blockchain Bitcoin app. In fact, it unleashed such a firestorm that diehard technologists and Bitcoin fans took to YouTube to post videos of themselves destroying their iPhones. This apparent shift in stance, as Bloomberg reports, is being celebrated with Bitcoin entrepreneurs were already predicting an explosion of activity.

Mike Krieger details the changes...

Many people are closely scrutinizing Apple’s policies today due to the kickoff of the company’s annual Worldwide Developer Conference. For folks within the Bitcoin community, focus has been on a small recent entry within the section on “Purchasing and Currencies” within the document: App Store Review Guidelines. See below:

Screen Shot 2014-06-02 at 3.26.38 PM

 

As you can see, 11.17 is the latest addition to that particular section, which is leading many to think this is a change of policy. Of course, we don’t know what “approved” virtual currencies are, but if Apple didn’t approve Bitcoin it would be the biggest joke of all-time and I don’t think the company would be so stupid.

 

If myself and others are reading this correctly, it is hard to overestimate the importance of this for the Bitcoin ecosystem. Just as the complexity of buying Bitcoin held it back in the early years until companies such as Coinbase came along, so too has Apple’s ban prevented BTC from growing even larger than it has thus far.

As Bloomberg reports,

The change signals that Apple is warming up to virtual currencies after previously blocking programs like Blockchain.info from its App Store. Bitcoin is the most popular digital currencies, which governments are struggling to determine how to regulate because they exist only as software.

 

“This is a sign that the ecosystem is maturing and gaining credibility,” Bill Lee, an investor in bitcoin wallet BitGo, said in an e-mail. “To be clear, I still think bitcoin is in its infancy as a technology, but its acceptance is becoming more and more mainstream.”

 

“Get ready for a plethora of bitcoin iOS apps!” bitcoin venture capitalist Adam Draper said in an e-mail. “Very exciting news!”

 

...

 

“If anything, Apple had more to lose by keeping bitcoin off the App Store,” said Gil Luria, an analyst at Wedbush Securities Inc. “Bitcoin users were not going to give up bitcoin - they were giving up on the iPhone.”

The Bitcoin price surged on the news...

 

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Tue, 06/03/2014 - 15:18 | 4820936 GrinandBearit
GrinandBearit's picture

A step in the right direction for the NWO digital currency.

 

Paging Phuckstar...

Tue, 06/03/2014 - 15:21 | 4820945 Harbanger
Harbanger's picture

Encourage all your liberal friends to buy bitcoins and keep stacking.

Tue, 06/03/2014 - 15:24 | 4820958 GrinandBearit
GrinandBearit's picture

My liberal friends are all addicted to their smart phones, facebook and texting.  They have no time for PM's or buttcoins.

Tue, 06/03/2014 - 15:30 | 4820973 CH1
CH1's picture

WAIT.... Bitcoin still exists?

But they said.....

Tue, 06/03/2014 - 16:39 | 4821198 DirtyWilly
DirtyWilly's picture

Keep those P.O.S.'s at Apple out of Bitcoin.  Let those kleptocrat wannabe's choke on thier own mistakes and filth.

Tue, 06/03/2014 - 21:46 | 4821877 Exponere Mendaces
Exponere Mendaces's picture

I think this is the fourth time Bitcoin has "died" and come back to life. Or is it fifth? I'm losing count here...

Tue, 06/03/2014 - 18:21 | 4821411 TheHound73
TheHound73's picture

I will be converting some BTC to Au when it reaches 1:2 during the next bitcoin bubble.  If it plays off as planned and given their current prices, the gold will be acquired at 75% off.  Conveniently many gold dealers now accept bitcoin as a payment method, including Peter Schiff's EuroPac Metals.

Tue, 06/03/2014 - 18:25 | 4821423 zerocash
zerocash's picture

I have good experiences with Amagi Metals.

http://www.amagimetals.com/

Wed, 06/04/2014 - 00:13 | 4822230 gh0atrider
gh0atrider's picture

gh0atrider

Tue, 06/03/2014 - 15:23 | 4820948 tmosley
tmosley's picture

Right, because we all know how much the NWO and the NNWO both LOVE cryptoanarchy.

Tue, 06/03/2014 - 15:31 | 4820978 Harbanger
Harbanger's picture

Federal Election Commission supports bitcoin, that should tell you something.

http://inthecapital.streetwise.co/2014/04/24/fec-supports-bitcoin-campai...

Tue, 06/03/2014 - 15:35 | 4820998 NoDebt
NoDebt's picture

Harbanger, you just sealed it for me.  I'm buying back in on BitCoin.  Now we've got PROFESSIONAL criminals and money launderers (politicians) getting in on the BitCoin thing?  Not just amateurs like drug cartels and the mafia?

Who would be crazy enough to bet against a currency that's so highly sought after by the entire criminal underworld?

Tue, 06/03/2014 - 16:52 | 4821228 Harbanger
Harbanger's picture

I've been Banned

Wed, 06/04/2014 - 06:23 | 4822444 BrosephStiglitz
BrosephStiglitz's picture

Nodebt:  Just don't buy into Bitcoin today.  I sold my positions out yesterday morning having banked ~30% profit.  Bitcoin needs a down day, or two.  It has been screaming for a downward correction for 2-3 days now having exceeded its typical bull-run characteristics.  Plus the daily trading patterns were getting choppy.

Not sure how far that correction will be.  Give it a few days to be sure the uptick is resuming.  There is a lot of positive news out there so it probably will be the case, but CNBC has finally figured out it is rallying (I see this as medium-term bearish, since they are a bunch of overpaid clowns- if they have figured it out it means the dumb money is starting to move in.)  Also still worried about .gov USA and .gov China trying to drive a stake through its heart.  That could lead to pricing fluctuations in the near-term also.

Tue, 06/03/2014 - 15:35 | 4820982 CH1
CH1's picture

the NWO and the NNWO both LOVE cryptoanarchy

Yeah, the haters are rather amazing. Anything not invented in their garage is a NWO conspiracy.

Tue, 06/03/2014 - 18:10 | 4821383 BigJim
BigJim's picture

No.. but anything invented by people who received their funding from the US security apparatus (check out all the cryptocurrency whitepapers that came out of the NSA) seems unlikely to be a major asset to 'anarchy' of any kind.

Or maybe this is all part of TPTB plan to carry on getting back-handers and bribes once they ban cash. I have been wondering why they're pushing for that, as I'd have thought cash was a bent politico's best friend; but obviously BitCoin gives them a way to carry on taking bribes. And I guess the way they're rewarded these days isn't with bags of cash while they're in office, but in lucrative sinecures once they've left office, a la Tony Blair's 'work' for JP Morgan. And obviously their banker masters don't need cash because they issue the stuff.

Anyway, even if it is a tool of factions within .gov, that doesn't mean BitCoin is not a decent speculative play.

Tue, 06/03/2014 - 18:53 | 4821489 nailgunnin4you
nailgunnin4you's picture

If you are concerned bitcoin is created by TPTB, try studying it for half an hour and then realise that without a new conspiracy everyday Alex Jones and his ilk may incur a drop in t-shirt sales. 

 

It is decentralised and anonymous (if you wish), how will this technology help anyone but the individual? 

 

Wed, 06/04/2014 - 12:29 | 4823561 jonytk
jonytk's picture

it could have been created by a central bank to be a black hole for inflation, just like stocks surging have prevented inflation to go up lately. but by the way satoshi speaked, i highly doubt it, he sounded like a programmer hired by the e-gold guys.

Tue, 06/03/2014 - 15:19 | 4820937 papaswamp
papaswamp's picture

Even nudists accept bitcoin...get naked bitchez!

http://newsbtc.com/2014/05/14/canadian-nudist-resort-accepts-bitcoin-pay...

Tue, 06/03/2014 - 15:21 | 4820943 Jumbotron
Jumbotron's picture

Being nude makes it easier to pull a bitcoin our of your ass.

Tue, 06/03/2014 - 15:44 | 4821041 Bendromeda Strain
Bendromeda Strain's picture

You just won the Internet!

Tue, 06/03/2014 - 16:16 | 4821141 debtor of last ...
debtor of last resort's picture

Buttcoin.

Tue, 06/03/2014 - 16:36 | 4821195 BeetleBailey
BeetleBailey's picture

PussyCoin!

TitCoin! (Carlin would have a field day)

PubicCoin!

3rdEyeCoin!

CockCoin!

Scrot-a-Coin!

...there...think I've covered it.

Tue, 06/03/2014 - 18:04 | 4821369 Jumbotron
Jumbotron's picture

TaintCoin

Anal-FlossCoin

NetherRegionCoin

 

Tue, 06/03/2014 - 18:11 | 4821389 BigJim
BigJim's picture

AssCoin, PudendaPenny, PussyPound, QuimGuinea, RimRuble...

Tue, 06/03/2014 - 20:00 | 4821617 vulcanraven
vulcanraven's picture

ClitCoin™ 

Tue, 06/03/2014 - 22:26 | 4821957 Jumbotron
Jumbotron's picture

BeardedClamCoin

ChocolateStarfishCoin

 

Tue, 06/03/2014 - 15:22 | 4820942 Jumbotron
Jumbotron's picture

That's right....it's risk off for being your own CENTRAL BANKER.

Just like Central Banks.....your VERY OWN computer creates money out of THIN AIR.  Just turn on your computer.....and double click an icon. 

You too...can join the work at home in your mother's basement revolution !!!

Mine Bitcoins NOW !!!


 

Tue, 06/03/2014 - 15:24 | 4820957 tmosley
tmosley's picture

Yeah, just like I can take a pickaxe and go mine gold out of my back yard for $5 an ounce.

Oh, wait, mining is a little more involved than that, and is actually very expensive and capital intensive in both cases.

Well, let's troll ZH anyways and see how many ignorants green arrow me.

Tue, 06/03/2014 - 16:07 | 4821115 lickspitler
lickspitler's picture

Last time TMosely used the term troll against a bear , Gold ccollapsed $700. Poor Bitcoin the foilers have arrived.

Tue, 06/03/2014 - 21:48 | 4821880 Exponere Mendaces
Exponere Mendaces's picture

Fight the good fight, tmosley. Just remember that the barking seal trolls here have lots of time on their hands, because most of them are retired financial workers living off the fat of an antiquated system that allowed them to pull wealth from others.

And some are truly crazy, but that's par for anything involving the internet.

Tue, 06/03/2014 - 15:25 | 4820961 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

go post about something you have at least a tiny shred of knowledge about

Tue, 06/03/2014 - 15:33 | 4820993 CH1
CH1's picture

The combined ignorance and arrogance of BTC haters is astonishing.

Numbskull Factor 10, Mr. Sulu!

Tue, 06/03/2014 - 15:52 | 4821064 seek
seek's picture

The hate is strong. One of the reasons I don't comment here about it much anymore.

I will say that like every other market now, BTC is manipulated, but the current pricing in less manipulated than it was back in November and the recent rise is genuine and supportable.

Tue, 06/03/2014 - 17:11 | 4821266 nope-1004
nope-1004's picture

I honestly don't hate bitcoin.  Fonestar was a bit much, but the bitcoin premise is obviously good.  The problem I have is when people show up claiming that it is free and will be the only way to transact in the future.  That I see as irresponsible because the govvy's sole existence relies on taxes.  If we all accept bitcoin and skirt around paying taxes, the govvy ship sinks, and sinking ships get desperate.

I truly support the bitcoin premise and can plainly see that it is being held in check by the govvy, through nefarious or other means.  Anything that competes with the USD will be attacked - this is just common sense.  It is not free and if it takes off again, the target on its back will attract even more intervention and DDoS attacks.

 

Tue, 06/03/2014 - 20:03 | 4821622 nailgunnin4you
nailgunnin4you's picture

I have been involved with the bitcoin community since 2011. I don't remember anyone telling me it was free, a rather ambiguous claim. As for BTC being the only way to transact in future, I doubt that claim has ever been made, and if it was then that is not a fair representation of the mostly well educated BTC community (who recognise the existence of physical currency and barter among other things). 

 

As for the loss of taxes, I guess this requires two minutes of critical thought, which you were obviously unable to commit, so allow me. If I pay for fuel in crypto, I have paid the fuel excise (this goes for all excise taxes obviously). If I own a property, yet own no USD or relevant fiat, then the government or myself can simply convert crypto into fiat and pay property taxes. Corporate/business taxes will be harder to avoid when accepting BTC instead of fiat as the blockchain records all, this can be seen as a positive or negative. Clever individuals may be able to avoid paying the unconstitutional income tax, but seeing as 100% of this tax goes to banksters as the interest on the debt our super wonderful government has incurred for us, I don't think this is bad for anyone other than banksters and the politicians who rely on their donations. Suffice it to say your assertion that the government's existence is beneficial to the people is not one I agree with.

 

As for your ddos comment, well, I just hope that the Bitcoin CSO is uber vigilant and protective of the server farms, he should definitely buy more bandwidth just in case!!

 

Honestly though I respect you at least for allowing your attitude to budge just a little, kudos to you. I think the fact that bitcoin haters are now denying their aversion rather than decrying it is an excellent endorsement of bitcoin, as well as the hater's ability to let the facts morph their opinion.

 

 

 

 

Tue, 06/03/2014 - 21:54 | 4821898 Exponere Mendaces
Exponere Mendaces's picture

In all honesty, the reason fonestar went parabolic on you guys is because the seething hate here is absolutely unrelenting in its scope and intensity. Every different idea ridiculed, if it doesn't fit into the mantra of ammo/prepper/stacking then it isn't allowed a fair hearing.

And the kicker is, now the people that derided his over-the-top behavior can't even stop mentioning his name, because he actually made an impression. How ironic. Maybe next time something comes along that is new it would help to look at it critically (I mean this toward everyone here on ZH, not just you) and not turn into automatic douche-nozzles.

I know, its asking a lot, but you guys have to admit you fanned the fire on this one.

Wed, 06/04/2014 - 00:16 | 4822232 gh0atrider
gh0atrider's picture

fonestar is still with you, and also with you.

Wed, 06/04/2014 - 04:34 | 4822411 hawkeye39
hawkeye39's picture

You should go to politics.

Using words like "honestly" and "truly" doesn't suit you.

Reading your comments now and how you try to lessen the vile crap you said in the past about bitcoin (and fonestar) is truly disgusting.

Thu, 06/05/2014 - 09:50 | 4826587 Exponere Mendaces
Exponere Mendaces's picture

@hawkeye39

I've never sought power. I know true power is knowledge and information. Conveniently, Bitcoin provides both.

I've railed against the same influence, but scaled back when it was obvious the wall of stupid was so high that nothing could surmount it. So, I'll just tend to my interests and chime in here and there while you guys run around and try to be the biggest douchebag to each other.

Like any of it will matter a few years on, when the Dollar is toast, the USA a third-world standard, and the rest of the hodge-podge of nations teetering in social chaos. Keep your outrage to yourself, you'll have plenty of things to worry about that won't include online forums and the opinions of one man.

 

Tue, 06/03/2014 - 18:08 | 4821092 Jumbotron
Jumbotron's picture

"the NWO and the NNWO both LOVE cryptoanarchy

Yeah, the haters are rather amazing. Anything not invented in their garage is a NWO conspiracy."

 

The combined ignorance and arrogance of BTC haters is astonishing.

Numbskull Factor 10, Mr. Sulu!


CH1, you must be a child to be this stupid and ignorant of history.

It takes power to fuel the internet.

It takes a SHIT LOAD OF CHEAP POWER to fuel the internet.  Which includes the cheap power needed to run your little crypto-hobby on your multi-thousand dollar malware infected PC with your several hundred dollar Radeon R-290 X or better yet your own FPGA card optimized for Bitcoin algorithms.

Oh yeah....it takes a SHIT LOAD OF CHEAP ENERGY to fuel the economy which allows you to have the excess cash needed above and beyond your material needs....like food for instance...to waste time and money on buying and setting up your expensive little PC rig to mine bitcoins.

Oh...right....it takes a job paid in FEDERAL RESERVE NOTES for you to buy your Bitcoin mining rig with excess FEDERAL RESERVE NOTES in order for you to mine Bitcoins and it takes FEDERAL RESERVE NOTES for you to fill up your vehicle to drive to the coffee shop downtown that accepts your Bitcoin.

Oh.....forgot....that thing about a SHIT LOAD OF CHEAP ENERGY supplying everything you need in order to mine Bitcoin.  That era is dying even as we speak......

Canadian Tar Sands.....OOOPS  !!!!

http://www.businessweek.com/articles/2013-12-03/why-canadas-oil-sands-lo...

Shale Oil.....OOOPS !!!

http://www.nytimes.com/2013/11/13/business/energy-environment/shales-eff...

You see CH1....you ignorant slut.....Bitcoin is based on magic.  The magic provided to us by cheap energy.  That is going away.....never to return.  Each year....a little bit more magic goes away....and since we all HAVE TO HAVE IT.....we LOVE IT....we will do ANYTHING FOR IT....including sending our children off to DIE FOR IT....the remaining amount of magic left is now priced upwards.

It is the grease for the technological pathway for the creation, distribution and acceptance of Bitcoin.  Anything virtual needs the magic of power.  Cheap Power.  Or else....it doesn't work....and if it doesn't work it will not be accepted or used for very long.

Enjoy your hobby...while it lasts.

Tue, 06/03/2014 - 18:18 | 4821405 BigJim
BigJim's picture

I think you'll find this argument goes for the creation of any value, not just BitCoin. Gold/silver mining? Writing code? Manufacturing? You could plug any of those words into your diatribe about energy necessity and it would still be true... but irrelevant.

If/when the energy runs out, existing stocks of practically EVERYTHING non-perishable will be worth more because there'll be less stuff being produced. And unless it causes electricity and the internet entirely vanish, the effect of energy scarcity on BTC being worth 'mining' is hard to say.

Tue, 06/03/2014 - 18:20 | 4821410 CH1
CH1's picture

Ah... I'm a child and ignorant, and a slut on top of it all!

And, yeah, that fiber optic crap is a real power hog! Microwatts are expensive!

Tue, 06/03/2014 - 21:50 | 4821885 Exponere Mendaces
Exponere Mendaces's picture

Jumbotron is one of those special cray-crayzee commenters that thinks extra BOLD and stuff wins arguments. He's going to pop a gasket when Bitcoin gets over Gold parity, just watch.

Tue, 06/03/2014 - 18:31 | 4821413 crazytechnician
crazytechnician's picture

You seem to think that the current financial system does not use energy ? WTF planet are you on ? Just think that bitcoin will allow low power tablets to replace every single power hungry cash register and ATM machine in the world. And printing , transporting & securing Cash does not waste vast amounts of energy ? With Bitcoin - no more bank datacentres. No more financial datacenters. Bitcoin protocol & mining will singularise the entire financial world and will end up using just a fraction of current combined Cash / POS / Datacentre energy requirements. Your energy argument is a pathetic Straw Man. Bitcoin will bring absolute energy efficiency to digital finance.

Tue, 06/03/2014 - 18:48 | 4821479 TheHound73
TheHound73's picture

But think of the children of all those Brinks truck drivers scooting around keeping ATM machines fed.  All those construction workers and cement manufacturers who won't be building banks no more.

Wed, 06/04/2014 - 12:48 | 4823597 jonytk
jonytk's picture

well, higher energy prices will pump the prices of everything from transport to groceries to bitcoin then! bitcoin is the perfect hedge! get bitcoins or namecoins ;)

Tue, 06/03/2014 - 16:15 | 4821140 ronron
ronron's picture

oh yes the haters. using that term tells me your position is undefendable.

Tue, 06/03/2014 - 18:21 | 4821412 CH1
CH1's picture

using that term tells me your position is undefendable.

The term is descriptive. If the shoe fits....

Tue, 06/03/2014 - 17:45 | 4821326 Ironmaan
Ironmaan's picture

Since the Federal Government began taxing gains in bitcoin I have lost all interest in it. What am I missing? Why should I still care about it? 

Tue, 06/03/2014 - 18:10 | 4821385 Jumbotron
Jumbotron's picture

The money changers and the skimmers of the money changers have a lock on the market.

In other words....the mafia doesn't like competition.

Not like Bitcoin won't exhaust itself even if it isn't taxed like any other income.

Tue, 06/03/2014 - 20:18 | 4821665 nailgunnin4you
nailgunnin4you's picture

Since the Federal Government began taxing gains in bitcoin I have lost all interest in it. What am I missing? Why should I still care about it? 

 

 

Cryptos are peer to peer currencies, not a price for speculators to profit from. You don't have to care about it, just like you don't have to read articles about it and then comment on how little you care about it.

 

From the wiki:

currency (from Middle Englishcurraunt, "in circulation", from Latincurrens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation, as a medium of exchange, especially circulating paper money. This use is synonymous with banknotes, or (sometimes) with banknotes plus coins, meaning the physical tokens used for money by a government.[1][2]

 

A much more general use of the word currency is anything that is used in any circumstances, as a medium of exchange. In this use, "currency" is a synonym for the concept of money.[3]

Tue, 06/03/2014 - 21:23 | 4821822 Ironmaan
Ironmaan's picture

Thank you for confirming for me that there is nothing in Bitcoin to care about.

Wed, 06/04/2014 - 12:46 | 4823604 jonytk
jonytk's picture

well if the US is taxing bitcoin, i imagine a bright future for bitcoin atms on tropical caribean and south east asian beaches

Tue, 06/03/2014 - 21:56 | 4821905 Exponere Mendaces
Exponere Mendaces's picture

Gold is taxed, in one way or another - does that reduce its utility?

Tue, 06/03/2014 - 23:06 | 4822082 Ironmaan
Ironmaan's picture

Government does not know how much gold I have. They know exactly how much Bitcoin one has.

Tue, 06/03/2014 - 15:34 | 4820991 One And Only
One And Only's picture

If the internet shuts off....bitcoin is FUCKED

Buy SPOOS bitch

Tue, 06/03/2014 - 15:35 | 4820996 CH1
CH1's picture

If the internet shuts off....bitcoin is FUCKED

LOL... And this by you is a happy thought?

Tue, 06/03/2014 - 15:38 | 4821007 One And Only
One And Only's picture

I was being sarcastic.

Speaking in terms of money - bitcoin is as close to gold as it comes.

Tue, 06/03/2014 - 18:21 | 4821416 CH1
CH1's picture

Ah, cool. :)

Tue, 06/03/2014 - 15:34 | 4820992 yrad
yrad's picture

Fonestar? Did your Bitcoin stack fall on you keeping you from your CPU?

Tue, 06/03/2014 - 16:08 | 4821114 alexcojones
alexcojones's picture

Alex Co-Jones misses Fonestar !!!!  Alex feels a great loss and letdown whenever he thinks of Fonestar in the far north. 

Alex has been to Canada and now when Alex buys silver Maple Leafs, he will think fondly of Fonestar.

Sigh.

Tue, 06/03/2014 - 15:40 | 4821022 Dr. Everett V. Scott
Dr. Everett V. Scott's picture

If bitcoin could have done just one thing, it would be untouchable:

The btc algo should have found a way to 'wash' transactions so the buyer/seller would be anonymous.

Maybe that's not possible.  I don't know. But if it could be done, that would be the end of fiat.  And it would be so satisfying to listen to all the world governments impotently squeal at their loss of control...

Tue, 06/03/2014 - 15:45 | 4821046 Bendromeda Strain
Bendromeda Strain's picture

The blockchain will be tied around your neck all in due time.

Tue, 06/03/2014 - 15:50 | 4821060 tmosley
tmosley's picture

Bitcoin won't do it, because they are quickly getting in bed with regulators.  Darkcoin, on the other hand...

Tue, 06/03/2014 - 15:55 | 4821073 luigi1111
luigi1111's picture

Get your DRK today!

Tue, 06/03/2014 - 16:02 | 4821097 Jumbotron
Jumbotron's picture

Is that short for DORK ?

Tue, 06/03/2014 - 17:26 | 4821290 aminorex
aminorex's picture

DRK does not work.  MRO is the best tech for anonymous transactions today.

Tue, 06/03/2014 - 19:03 | 4821502 Mashuri
Mashuri's picture

Darkcoin doesn't do anything better than what DarkWallet is capable of: https://darkwallet.unsystem.net/  DRK is another alt-coin pump and dump.

Tue, 06/03/2014 - 17:22 | 4821270 shouldvekilledthem
shouldvekilledthem's picture

Bitcoin is as anonymous as you want it to be.

All the knowledge is publicly available. Research the subject :)

Bitcoin FTW

As for the post, ZH's bitcoin coverage still sucks...

 

Tue, 06/03/2014 - 17:28 | 4821294 aminorex
aminorex's picture

If you mean all of your financial details are publically available, yes.  That is why governments love bitcoin.  Monero however will keep all of your balances and transactions private.

 

Tue, 06/03/2014 - 19:08 | 4821513 Mashuri
Mashuri's picture

Please see https://darkwallet.unsystem.net/

This is just the tip of the iceberg too.

Tue, 06/03/2014 - 21:57 | 4821907 Exponere Mendaces
Exponere Mendaces's picture

Those things are coming Mr. Scott. Just give it time, the need has been proven and the software is being developed. Intense interest in preserving anonymity will be a major driving force in the new applications coming out for the Bitcoin ecosphere.

Tue, 06/03/2014 - 15:41 | 4821026 disabledvet
disabledvet's picture

I think we might have a hyperinflation hitting the USA imminently here.

"French Revolution" here we come.

Tue, 06/03/2014 - 15:44 | 4821043 Luckhasit
Luckhasit's picture

Soon as bitcoin surges, the masses will start to hoard AMD cards to mine them actually pissed me off when they increased prices because of this.  Too bad they can't compete against the likes of Chinese professional miners with super computers to mine them out. 

Bitcoin is like a gangbang of the neighborhood whore.  If you didn't get in first, your best off passing or (for the voyeurs) watching from the sideline.  That is, unless your willing to pay for your firsties.  

Tue, 06/03/2014 - 18:14 | 4821395 Jumbotron
Jumbotron's picture

Yeah...isn't that great ?  You want to buy a new "Hawaii" chipset based AMD card and the Bitcoin masterbators trying to mine a virtual coin make all the rest of us pay more Federal Reserve Notes for that same card.

 

Tue, 06/03/2014 - 18:34 | 4821445 TheHound73
TheHound73's picture

Ah man, that sucks, dude.  Seek therapy.

Tue, 06/03/2014 - 22:00 | 4821913 Exponere Mendaces
Exponere Mendaces's picture

That isn't your problem, Jumbotron. Nobody mines with GPUs anymore. The difficulty for Bitcoin is topping 10.4 BILLION, which means unless you're using an ASIC miner, you're not getting squat. Talk to your retailer or simply shop smarter to get the best deal. Bitcoin isn't the culprit here.

Tue, 06/03/2014 - 18:31 | 4821432 zerocash
zerocash's picture

They will soon find out that AMD cards are pretty much useless to mine Bitcoins. You need a fairly decent ASIC rig (not from Butterfly Labs) to be able to compete.

Tue, 06/03/2014 - 17:16 | 4821275 robertocarlos
robertocarlos's picture

To the moon.

Tue, 06/03/2014 - 17:21 | 4821282 QE49er
QE49er's picture

Gold is money, everything else...

Tue, 06/03/2014 - 17:27 | 4821292 echoes
echoes's picture

The 'price' of tulipcoin is a total hoax, based off fake volume from chinese exchange rackets. The price from the very beginning was ponzi'ed up by Mt. Gox, look up Willy BOT. Sheep will be sheep.

 

Tue, 06/03/2014 - 17:29 | 4821296 aminorex
aminorex's picture

If I listened to people like you I would not be rich.

Tue, 06/03/2014 - 17:32 | 4821302 echoes
echoes's picture

Yeh, slobbering over Fed toilet paper derived from imaginary 'coins' makes you delusionally rich. You are not rich in REAL money. Guaranteed.

Tue, 06/03/2014 - 18:14 | 4821392 crazytechnician
crazytechnician's picture

Hark - the sound of sour grapes. BTC will smash through 10k soon , and eventually it will swallow up the entire Fiat Ponzi. You meanwhile will still be fondling your silver coins down in a damp shelter , opening another can of freeze-dried long life food , still telling yourself it's just a matter of time until the government shut down the internet and grid to stop bitcoin and finally , finally that shiny silver and gold you have been hoarding fo so long will actually be worth something.

Tue, 06/03/2014 - 17:51 | 4821338 aardwolf
aardwolf's picture

I seriously worry whether the NSA already has a quantum computer able to crack the Bitcoin encryption, or they will perform a 51% attack on Bitcoin, or they will simply physically control all the miners in the future as the computing power required for further mining is already beyond individuals and will probably eventually rest in the hands of the CIA anyway...

Once they let Bitcoin get just big enough that it is about to topple their debt based fiat scam they will pull the plug and hack/crack/control/otherwise compromise it and the public will lose billions and be frightened away from cryto currency for a generation...however, my fingers are crossed that I'm just being paranoid and my coins will eventually buy me a ticket off this rock :)

Tue, 06/03/2014 - 18:05 | 4821373 crazytechnician
crazytechnician's picture

Well the Fiat Ponzi has a mathematical certainty of failure so something will replace it. Before computers were invented PM's were great , but now we have cryptographically secure high speed computer networks digital currencies will be the global future of money. Gold backed currencies would be a step backwards in time and most people know that (apart from the ZH Flat Earth Society that is).

Tue, 06/03/2014 - 18:40 | 4821456 TheHound73
TheHound73's picture

Those are possibilities.  Question is what amount of capital are you willing to risk given those possibilities compared to bitcoin's potential.  Is it $0?

Tue, 06/03/2014 - 18:43 | 4821461 TheHound73
TheHound73's picture

Quick review:  1 year ago bitcoin was worth $110 and the mining network clocked in at an astounding 7 million ghash/second.  Today a Bitcoin is worth $660 and the mining network is around 100 million ghash/second.  All indicators are showing green for the next bitcoin bubble to play out on schedule during July.

Tue, 06/03/2014 - 22:05 | 4821924 Exponere Mendaces
Exponere Mendaces's picture

Current range of possible topping prices are around $2,500 - $4,000 for this mega-rally, when it kicks off. It will likely bust through Gold Parity around/after July 4th. Should be interesting this time around.

Currently getting kicked in the groin price-wise, but we've been having 10 - 40 dollar swings as things start to heat up. Never a boring day when the Bitcoin rally train pulls into town...

Tue, 06/03/2014 - 20:33 | 4821702 Bunga Bunga
Bunga Bunga's picture

But but but but but but ... it's a bubble, ponzi, tulips, fool's money.

Tue, 06/03/2014 - 20:42 | 4821716 Haole
Haole's picture

BTC BTChez.

Tue, 06/03/2014 - 22:45 | 4822024 Manslavedave14
Manslavedave14's picture

LOL, even Apple is learning not impede what will be one of the most EPIC bull runs of all time!!!!!! Buy your BTC now ladies and gents.......afterall there will only be 12 million(full coins) of them total. Ya'll think the shortage of .22 LR was bad, just wait!!!!

Wed, 06/04/2014 - 05:24 | 4822426 wossname
wossname's picture

BTC Suckers! You don't trust the internet but you trust in BTC?

Never underestimate the power of human stupidity.

Ever.

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