Topic: Gold collapsing. Bitcoin UP. - page 870. (Read 2032266 times)

Whatever you do people are going to give you shit one way or another.

Don't call yourself an admitted speculator, instead call yourself a venture capital investor (or maybe an angle for you early early adopters). It's closer to the truth, even if you are just sitting back watching, by speculating you are raising the price which trickels into the rest of the bitcoin economy. You yourself are also active in the marketing department which is critical at this phase.....

as an admitted speculator, i can't tell you how much criticism i took in 2011 for speculating.

Stock markets still bleeding.


 

lol
Right.  That wasn't science either.  It is not science when you decide that 9/11 and the financial meltdown of the last decade are going to be repeated simply because some stock index reaches the same price it was when those previous two events happened.

thx oh… I see for $7 billion last year.

Nokia sold their smartphone business to Microsoft.

Finland govt should buy BTCs and add bitcoin functionality to every Nokia smartphones, feature phones, mobile phones be default.
http://9to5mac.com/2014/10/13/finlands-credit-rating-downgraded-and-its-all-apples-fault-says-prime-minister/

A lot of transactions happen within coinbase

Yes, I know, monthly or quarterly graph is looking better than the daily one. But while merchant adoption more than quadrupled, the transaction number encreased 10 percent.
And @NewLiberty is right as well. A year without a new high in adoption is nothing special:
https://blockchain.info/charts/n-transactions-excluding-popular?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

That's why I think that the question is whether this will happen again as it always did before. I think it will.

The speculation part of Bitcoin is indeed a necessary aspect of Bitcoin's ascent. But the price of a single Bitcoin in USD is not the most interesting aspect of bitcoin. The most intriguing part of Bitcoin is its transparent decentralised ledger. This ledger cannot be negotiated with, cannot be extorted or bribed and not seized. It can be accessed universally and anywhere electronically. it's a way of keeping score without anyone interfering.

We all know that the current monetary system comes with perks that lead to a transfer of wealth from ordinary citizens to governments. People are increasingly becoming aware of this and will be looking for escapes. The great aspects of the Bitcoin ledger will induce people over time to keep score in an honest ledger instead of obfuscated official ledgers. Slowly but surely the honest ledger will show its upside compared to a mismanaged ledger. The USD centric approach of today still limits the penetration of decentralized ledgers but over time a critical mass will cross the line. I expect currency turbulence to hasten this process, although it may take many years. It will be the youth leading and not pensioners with a large stake in the current system. The trust and comfort found in banks has catched firm hold in people's believe system.

In the end, the honest transparent ledgers will prevail. Now that bypassing the official ledger is possible (at least - theoretically), nothing can stop this from happening over time, even if it takes a generation.

No?

What a great chance to say adoption has been setting new records for months you just missed:

https://blockchain.info/charts/n-transactions-excluding-popular?timespan=2year&showDataPoints=false&daysAverageString=28&show_header=true&scale=0&address=

Due to cherry picking graph start and end points you fail to make your point here.
Be less arbitrary in your favor.  This is not how science is done.

The real question is whether adoption eventually will increase not only on the merchant side. Since 10 month, it doesn't.

https://blockchain.info/charts/n-transactions-excluding-popular

yep, and this forum is one of the marketing centers. the rumor is out that one doubles up for every 1000 bullish posts... 

Greed is Bitcoins killer app. Incentivising early adoption and evangelizing by early adopters bootstraps it and provides the necessary marketing.

interesting insights, thanks for the link

Marc Andreessen gets it:



From this thread: https://twitter.com/MParekh/status/520769140189974530

There really isn't much here. Their work focuses on a selfish miner attack, where a miner holds back on sending found blocks to keep others working on a stale chain. They then state that such miners will win more than their fair share of block rewards until they become the majority. (which itself is doubtful)

The problem with this is it assumes a selfish miner can get the rest of the network to accept their block that they withheld, but only released after they themselves received another's new honest block.

There are lots of problems with this. I remember a year ago when articles first published these claims that many people pointed out these problems in the comments section. They responsed to these comments by essentially saying "we're right you're wrong", but never actually addressing the implementation problems people raised.

Here was one of their "response" Q&A pages they later wrote. The level of discourse was lacking IMHO.
http://hackingdistributed.com/2013/11/05/faq-selfish-mining/

Notice this key issue many raise has no answer for some reason
 "This attack requires an attacker have good network position to get its blocks accepted."