The fact that everyone is post-rationalizing "why it's not a bubble" is precisely why it is indeed, a bubble.
Not saying it cannot continue, but too many peeps are all in on this one.
Topic: Why this is not a bubble - page 2. (Read 2123 times)
The protocol will be upgraded this year to support usernames/email instead of 31 random characters.
huh?
He's referring the the payment protoco[1]l Gavin is working on. It's not going to change bitcoin, just add some convenience on top.
1. https://gist.github.com/gavinandresen/2217885
The protocol will be upgraded this year to support usernames/email instead of 31 random characters.
huh?
The protocol will be upgraded this year to support usernames/email instead of 31 random characters.
huh?
I can't say if you are right or not but I will say this is exactly why I'm back "in" bitcoin again. I really liked bitcoin a year ago but I didn't buy any simply because I didn't see it being used enough. But this kind of growth? Where will we be in 2 more years? I'm pretty sure the value in 2 years has to be more than it is now.
There are good reasons for a price increase this time. Here's what's different from a year ago:
Silk Road is doing at least 2mil/month. Forum usage up hundreds of percent.
A $10mil company will be releasing the BitcoinCard this year at the Vienna Bitcoin Conference. The Russian founders say 5 years of research have gone into this technology allowing a super-low-power credit card sized device to send texts, bitcoins, login info, and consumer data through an ad-hoc network instead of cell towers, at a card cost of only $10-$25
Many other hardware wallets are in development.
The block reward has halved, decreasing the supply of new coins to 3600 coins/day
Network transaction fees per day are up 1100% from 4 to 48
SatoshiDice has shown the potential of the bitcoin gambling market by earning $600k, including 17,266 bitcoins in December
BitInstant lets you buy bitcoins at walmart, 7-11, and CVS
Explosion in p2p exchanges for cash or bank transfers on sites like localbitcoins
There are many different bitcoin wallets for android and iPhone.
Many companies in the bitcoin community have gone public.
Coinlab and BitPay each got 500k in venture capital. Coinbase got 100k.
Wordpress, the 20th largest website in the world, signed up with BitPay. BitPay then doubled their number of merchants in three months.
Somewhere around 3000 merchants accept bitcoin, up several hundred percent.
Bitcoin Foundation Launched in September 2012
Bitcoin can be traded on forex exchanges
New bitcoin based businesses are announced every day due to zero barrier to entry
The protocol will be upgraded this year to support sending to addresses that look like “bitcoinfoundation.org” instead of “1BTCorgHwCg6u2YSAWKgS17qUad6kHmtQW“
A major US facing poker site will start accepting bitcoin
Silk Road is doing at least 2mil/month. Forum usage up hundreds of percent.
A $10mil company will be releasing the BitcoinCard this year at the Vienna Bitcoin Conference. The Russian founders say 5 years of research have gone into this technology allowing a super-low-power credit card sized device to send texts, bitcoins, login info, and consumer data through an ad-hoc network instead of cell towers, at a card cost of only $10-$25
Many other hardware wallets are in development.
The block reward has halved, decreasing the supply of new coins to 3600 coins/day
Network transaction fees per day are up 1100% from 4 to 48
SatoshiDice has shown the potential of the bitcoin gambling market by earning $600k, including 17,266 bitcoins in December
BitInstant lets you buy bitcoins at walmart, 7-11, and CVS
Explosion in p2p exchanges for cash or bank transfers on sites like localbitcoins
There are many different bitcoin wallets for android and iPhone.
Many companies in the bitcoin community have gone public.
Coinlab and BitPay each got 500k in venture capital. Coinbase got 100k.
Wordpress, the 20th largest website in the world, signed up with BitPay. BitPay then doubled their number of merchants in three months.
Somewhere around 3000 merchants accept bitcoin, up several hundred percent.
Bitcoin Foundation Launched in September 2012
Bitcoin can be traded on forex exchanges
New bitcoin based businesses are announced every day due to zero barrier to entry
The protocol will be upgraded this year to support sending to addresses that look like “bitcoinfoundation.org” instead of “1BTCorgHwCg6u2YSAWKgS17qUad6kHmtQW“
A major US facing poker site will start accepting bitcoin
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