Someone put this thing together and made a killing - probably far more than they had hoped... However, unlike real Ponzi schemes, Bitcoin actually does useful things
That's pretty much how I feel about MS and Apple.
Topic: Wired article on Bitcoin : The Rise and Fall of Bitcoin (Read 2723 times)
That's pretty much how I feel about MS and Apple.
Yes. It is in the December print edition. It is not easily found on the front page of wired.com right now though.
Hm, WIRED, this is huge.
and Dan Kaminsky is sitting on the comments:
seems he know who Satoshi is .
quote:
Ken Simpson
I'm siding with Dan Kaminsky. There's little question that Nakamoto is not from Japan, and is not one person. Someone put this thing together and made a killing - probably far more than they had hoped.
However, unlike real Ponzi schemes, Bitcoin actually does useful things - for folks who need to move money around surreptitiously. I think it has a modest future in the medium term as a way of paying people in developing countries for out-sourcing work, where banking systems are not necessarily well established for low cost international payments.
Thus the only "fall" has been the fall of the USD-BTC exchange rate. And that doesn't matter much if your only concern is paying a Chinese developer to craft you up a new WordPress theme.
and Dan Kaminsky is sitting on the comments:
seems he know who Satoshi is .quote:
Ken Simpson
I'm siding with Dan Kaminsky. There's little question that Nakamoto is not from Japan, and is not one person. Someone put this thing together and made a killing - probably far more than they had hoped.
However, unlike real Ponzi schemes, Bitcoin actually does useful things - for folks who need to move money around surreptitiously. I think it has a modest future in the medium term as a way of paying people in developing countries for out-sourcing work, where banking systems are not necessarily well established for low cost international payments.
Thus the only "fall" has been the fall of the USD-BTC exchange rate. And that doesn't matter much if your only concern is paying a Chinese developer to craft you up a new WordPress theme.
Good read.
When Bitcoiners get interviewed, we should try to correct common misconceptions as well as answer the interviewer's questions.
At least they're no longer saying that 'Bitcoin has been hacked' in reference to MtGox being hacked.
this image is labeled:
Key moments in the short and volatile life of bitcoin.
That's it guys, bitcoin is over...
Its been a fun ride.
take-care
Key moments in the short and volatile life of bitcoin.
That's it guys, bitcoin is over...
Its been a fun ride.
take-care
Good, accurate article.
I'm still not Satoshi, though.
I'm still not Satoshi, though.
Nice try, Satoshi!
Good, accurate article.
I'm still not Satoshi, though.
I'm still not Satoshi, though.
Not a bad article, the most negative part is the title. Seems pretty factual and avoids most sensationalism. I wish it was on the front page of Wired though.
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