Thanks buddy
edit: Wow, this could be big for BTC.
Coinbase agrees:
https://www.coinbase.com/lunar
Topic: Gold collapsing. Bitcoin UP. - page 529. (Read 2032289 times)
Thanks buddy
edit: Wow, this could be big for BTC.
Let's go Lunar!
Give us your WSJ login so we can read the damn article.
First U.S. Bitcoin Exchange Set to Open Coinbase Has Backing From the NYSE, Banks and Venture Capitalists
By GREG BENSINGER
Jan. 25, 2015 4:34 p.m. ET
The virtual currency bitcoin is getting a very real boost on Monday, with the opening of the first licensed U.S. exchange.
Coinbase Inc., a startup backed by $106 million from the New York Stock Exchange, banks and venture-capital firms, said its exchange will offer greater security for individuals and institutions to trade bitcoin and monitor real-time pricing of the cryptocurrency.
The exchange could bring needed legitimacy to the currency, which isn’t backed by a central government and is traded over virtual exchanges, primarily overseas. Coinbase said it has insurance, offering traders some assurance that their money won’t disappear.
Bitcoin enthusiasts have been buffeted by the collapse of Japan-based exchange Mt. Gox last year—taking with it around half a billion dollars of investors’ money—and a security breach earlier this month at Slovenia-based exchange Bitstamp. The value of a bitcoin itself, determined by trading on existing exchanges, has fallen to about $240, from a peak in late 2013 of more than $1,200.
“To have an organized exchange that has the backing of thoughtful venture capitalists and investors addresses one of the main problems with bitcoin: its extreme volatility,” said Campbell R. Harvey, a Duke University finance professor who has studied cryptocurrencies. “Bitcoin has been sorely in need of something like this.”
Coinbase’s founders say they have been working for five months to win licenses from state financial regulators. They have regulatory approval in half of U.S. states, including large population centers like New York and California. For now, Coinbase can do business with account holders only in states where it has approval.
Coinbase will take a small percentage—likely less than 1%—of most transactions, said Fred Ehrsam, 26 years old, a co-founder. The exchange will initially be limited to users in the U.S., but Chief Executive Brian Armstrong, 32, said he plans to expand overseas.
Mr. Armstrong said he expected to attract both individuals and businesses looking to trade bitcoin. “Our goal is to become the world’s largest exchange,” he said.
Others are looking to open U.S.-based bitcoin exchanges, including Tyler and Cameron Winklevoss, the twin brothers known for their early feuds with Facebook Inc. founder Mark Zuckerberg .
Financial regulators, including the U.S. Federal Reserve, have been scrutinizing bitcoin recently. Benjamin Lawsky , the superintendent of the New York State Department of Financial Services, is working on a so-called BitLicense for firms looking to offer digital-currency services in the state; Coinbase is operating under earlier regulations. Mr. Lawsky’s plan is seen as a template for legislation in other jurisdictions, and it may give outsiders more confidence in the currency.
Bitcoins are created using high-powered computers that “mine” for the currency by solving complex mathematical equations. They are exchanged digitally either for currency, or goods and services. Ownership and transactions are recorded, anonymously, in a so-called blockchain, which backers say reduces the risk of fraud.
Bitcoin grew to prominence in recent years in part because of the ease with which it can be transferred.
Coindesk, which tracks the price of bitcoins, says 82,000 businesses accept the currency, double that of a year earlier, including e-commerce site Overstock.com Inc. and Expedia Inc., as well as many small retailers. The value of all bitcoin is $3.2 billion, according to Coindesk’s price index.
The NYSE invested in Coinbase during a $75 million round of fundraising that closed this month. Other investors include USAA Bank, the venture arm of Spain’s Banco Bilbao Vizcaya Argentaria SA, former Citigroup Inc. CEO Vikram Pandit and former Thomson Reuters Corp. CEO Tom Glocer. Venture backers include Draper Fisher Jurvetson, Andreessen Horowitz and Union Square Ventures.
The NYSE’s investment was intended in part to “keep an eye on bitcoin as it matures as a legitimate currency,” President Tom Farley said. “Any currency relies on its acceptance.” The Coinbase exchange “is an important step for the currency to become socially acceptable.”
Coinbase counts about 2.2 million consumer wallets and nearly 40,000 merchants that use its services. The company has about 75 employees and plans to operate in 30 countries by year-end, up from 19 today.
Massive Bitcoin liquidity incoming.
Give us your WSJ login so we can read the damn article.
Excellent interview of Axel Merk of Merk Investment Funds which I owned sometime back in 2006-2009. Axel is a professional currency trader and you'll hear alot of great pearls much of which a few of us already understand. I don't agree with his position on gold though. Think of how Bitcoin can solve many of the problems he outlines:
http://www.peakprosperity.com/podcast/91582/axel-merk-why-asset-prices-must-return-lower-levels
http://www.peakprosperity.com/podcast/91582/axel-merk-why-asset-prices-must-return-lower-levels
The interesting thing about professional trolls is that they help devs and investors think through every possible weakness and pitfall of the system, from the obvious to the far-fetched. So they too end up contributing.
For everything else there is the ignore button.
For everything else there is the ignore button.
... there's constructive criticism and then there's the barrage of baseless negativity for no other reason than to scare off noobs who come to read the most popular threads.
In the great arc of monetary history the trolls are inconsequential but who likes to live in a neighbourhood covered in graffitti and rubbish?
Also by default they are basically evil people because of the vile fiat debt-slave system that they are upholding. Evil needs nothing else than good men to do nothing ... get rid of these guys.
now you're talking, baby:
Bitcoin: The “Perfect Gold”
http://insidebitcoins.com/news/bitcoin-the-perfect-gold/29080?utm_content=buffere5c51&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Bitcoin: The “Perfect Gold”
http://insidebitcoins.com/news/bitcoin-the-perfect-gold/29080?utm_content=buffere5c51&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Quote
As Star Xu explained during his talk, bitcoin could be viewed as a “perfect gold,” offering better portability, divisibility, durability, and fungibility than its precious metal cousin
Fungibility is questionable, given the efforts to utilize Bitcon's taint featurebug to create white/black/red lists. You better pray CoinShuffle works out!
Of course similar efforts are underway for gold, with the invention of default 'conflict metal' status for all the stuff that doesn't pony up for the certification scammers.
In conclusion, [shameless plug for Monero, which is intrinsically fungible].
This could definitely set off the next deflationary wave/crisis:
http://mobile.bloomberg.com/news/2015-01-25/syriza-defeats-samaras-to-win-greek-election-exit-poll.html
Syriza wants at least half of Greek debt to be written off along with an end to austerity. This is the last thing their European creditors want to see. Remember, present day crises get set off when there is debt implosion which is what a debt write off is.
http://mobile.bloomberg.com/news/2015-01-25/syriza-defeats-samaras-to-win-greek-election-exit-poll.html
Syriza wants at least half of Greek debt to be written off along with an end to austerity. This is the last thing their European creditors want to see. Remember, present day crises get set off when there is debt implosion which is what a debt write off is.
full member
Activity: 660
Merit: 101
Colletrix - Bridging the Physical and Virtual Worl
That the dip below $200 was the last opportunity for the ordinary person to load up with BTC in serious quantity.
Except for those of us who dollar cost averaged through 2014, and shot our wads too soon. 
Central banks are getting more negative press these days.
look what the German Bundesbank is doing:
http://www.bundesbank.de/Redaktion/EN/Downloads/Bundesbank/Research_Centre/Conferences/2015/2015_01_29_frankfurt_programme.pdf
a workshop on p2p financial systems.
Andolfatto is coming and Antonopoulos, too.
Maybe us germans will have a a real eMark soon? ;-)
Central banks are getting more negative press these days.
Hardforks r expected atleast first 10 yrs.. Ie we had a hardfork when we got rid of gold standard but monetary policy at the time was hundreds of yrs old..
That's because trust in fiat != trust in a chunk of code. With Bitcoin, code is exactly what you have to put your trust in.
I'm also not buying that miners (rather: mining pools) will chose the fork that's best for Bitcoin as a whole, i.e. best for "hodlers," rather than the one which best serves their immediate interests
BTW, have you noticed the pool breakdown lately?
Remember what it used to look like ~6 months ago?
Whats worse is they probably hold coins just like everyone else, but are so insecure in themselves that they don't want to admit it in case anyone points out they were wrong. There whole sense of self identity is pinned on what random strangers on the internet think about their screen name. They come on here to slate everyone else just so that if BTC does go to shit they can still jerk off about how smrt they were on the internet. Then if the price does go up, they'll go back to posting on their original account, like they knew all along.
Beyond embarrassing.
Beyond embarrassing.
The interesting thing about professional trolls is that they help devs and investors think through every possible weakness and pitfall of the system, from the obvious to the far-fetched. So they too end up contributing.
For everything else there is the ignore button.
For everything else there is the ignore button.
Its true.
They're also the ultimate contra indicator. The higher the pitch, the more you buy.
Yep. And while they are hating and trolling like tantrum-throwing teenagers right now, years later they will look back and realize what the adults know today. That the dip below $200 was the last opportunity for the ordinary person to load up with BTC in serious quantity.
^
*contraindicator. One step at a tiem--first lrn 2 spellinks, then u can haz macroeconomics.
*contraindicator. One step at a tiem--first lrn 2 spellinks, then u can haz macroeconomics.
The interesting thing about professional trolls is that they help devs and investors think through every possible weakness and pitfall of the system, from the obvious to the far-fetched. So they too end up contributing.
For everything else there is the ignore button.
For everything else there is the ignore button.
Its true.
They're also the ultimate contra indicator. The higher the pitch, the more you buy.
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