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Mega Accepts Bitcoin; Email, Chat, Voice, Video, Mobile Coming Soon
An anonymous reader writes "Kim Dotcom knows how to stir up a storm on Twitter. On Saturday, he announced Bitcoin support for his cloud storage service and also sent out a slew of tweets suggesting Mega is going to become much more than just the successor to Megaupload."
http://filecloud.io/ cloud storage site (with more features + cheaper than Mega btw) has been accepting bitcoins for a long time, and being an Irish company has to follow Irish+EU dataprotection laws
In the last 3 months: money supply expansion halved, number of merchants doubled, wordpress accepted it, US facing pokersite leaks they will accept it, largest gambling site profit up hundreds of %
If this stuff happened to any company, its share price would double.
Also, in the last year:
Network transaction fees per day are up 1100% from 4 to 48
Explosion in p2p exchanges for cash or bank transfers on sites like localbitcoins
Coinlab and BitPay each got 500k in venture capital. Coinbase got 100k.
Bitcoin Foundation Launched in September 2012
ponzi worth between 250k and 5mil collapsed
BitInstant lets you buy bitcoins at walmart, 7-11, and CVS
Silk Road is doing at least 2mil/month. Forum usage up hundreds of percent over last year.
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
SatoshiDice has shown the potential of the bitcoin gambling market by earning $600k, including 17,266 bitcoins in December
Many companies in the bitcoin community have gone public.
Read the bitcoin FAQ: https://en.bitcoin.it/wiki/FAQ
If you still have concerns, see if they are addressed in the "myths" section: https://en.bitcoin.it/wiki/Myths
"A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation."
"Ponzi scheme" is not a synonym for "something to do with money I disagree with". Stop using it as such. Bitcoin isn't a Ponzi scheme because it's not an investment scheme. Furthermore, since all the details about Bitcoin are publicly known, it's hard to see how it could be called a scam at all - there are no below-table dealings there.
"Ponzi scheme" is quickly becoming the Godwin of economic discussion.
While it's likely that deflation makes Bitcoin unsuitable as a currency, that doesn't make it a scam, just flawed.
Forget magic. Any technology distinguishable from divine power is insufficiently advanced.
The idea that deflation leads to depression was proven to be false back in 2004. The "Bitcoin has a flawed economic design" argument is wrong and I will keep posting this study on Slashdot until it gets modded up and people read it.