I disagree. In the coming years you will see people brought to justice using the blockchain and a "cold case" system for investigating old crimes. If any stolen bitcoins get used at any point in the future, the FBI can ask the person that spent them where they got them and the investigation resumes. Spending stolen bitcoins is fraught with peril, since you will ultimately be tracked.
You were ridiculed because you applied it to all of bitcoin instead of where it belonged, specifically aimed at Mt. Gox. If you had done that, the bitcoiners would have left you alone because they all agree that Mt. Gox is shady.
Cold storage is nothing like a mattress. I can log on and transfer bitcoins anywhere in the world whenever I want. And I still get better interest than any other investment in the entire world while leaving my bitcoins "in the mattress". Where's the downside?
With safety comes control. I like living in a world where bank accounts are insured. I hate living in a world where all the financial payment processors can get together and block donations to Wikileaks. I'm not sure which one is worse.
Because bitcoin can still do things that no other money can do. Sending money around the world instantly has value and can easily put a dent in Visa, MasterCard, PayPal, Western Union, MoneyGram, Alibaba/AliPay, etc. If this happens, the amount of money that goes into bitcoin just using these services will make each coin worth at least $10,000.
So the question becomes, do you believe that bitcoin has the power to disrupt the financial world or not? If you do, you should buy some and hold them longterm.
My bitcoins at their height, were worth about $1200. Right now, they're worth about $600. That seems closer to half to me.
At the beginning of the end of Mt. Gox, they were only worth about $800, so I only lost about 25%. Considering how bad this news is, it really doesn't seem that bad.
Between Enron and Lehman Brothers I'm waiting for someone to tell me why US Dollars are such a wonderful idea.
Bitcoin is digital cash. You need to safeguard it as such. You don't leave large amounts of money on the books with known shady people in foreign countries, just like you don't hand your wallet full of $10,000 to the 3-card-monte guy for long-term safekeeping.
But bitcoin is money. And people steal money. That doesn't mean that bitcoin can't do things that no other money can do.
1. Um, OK. So then why in high school could I turn the pages of the book in my head and read all the chapter headings? And now, if my memory triggers, I can recite verbatim strings that the rest of the family thinks they read differently (they're always wrong in this situation and I'm always right). I always wrote my notes in very large print so I could read them during the test. Everybody thought I was weird.
I have horrible situational memory (everyone else is right and I am always incorrect), but my photographic memory is very good, noticeably and provably better than everyone around me. Now, my older daughter is just starting to figure out how it works and she is starting to take notes in very large print.
If you believe that, you really should watch "The Fifth Estate". The amount of world change that 2 people could institute in a span of 2-3 years is shocking.
Exactly. So why did he hate "The Fifth Estate" so much? Sounds like it captured him accurately or even better than reality (since it didn't show up treating women like sex objects).
The 50 Mbps option here in California costs $65 / month. Fortunately, I'm getting 113 measured, but there is no such thing as 50 Mbps for $40 here. That would only get you 15 Mbps.
There was no such thing as "broadband" in the late 1980s and early 1990s, prior to the discovery of the web by the public in about 1994. I was at a University and we ordered a T1 line (1.5 Mbps) FOR THE WHOLE CAMPUS.
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I disagree. In the coming years you will see people brought to justice using the blockchain and a "cold case" system for investigating old crimes. If any stolen bitcoins get used at any point in the future, the FBI can ask the person that spent them where they got them and the investigation resumes. Spending stolen bitcoins is fraught with peril, since you will ultimately be tracked.
You were ridiculed because you applied it to all of bitcoin instead of where it belonged, specifically aimed at Mt. Gox. If you had done that, the bitcoiners would have left you alone because they all agree that Mt. Gox is shady.
Cold storage is nothing like a mattress. I can log on and transfer bitcoins anywhere in the world whenever I want. And I still get better interest than any other investment in the entire world while leaving my bitcoins "in the mattress". Where's the downside?
With safety comes control. I like living in a world where bank accounts are insured. I hate living in a world where all the financial payment processors can get together and block donations to Wikileaks. I'm not sure which one is worse.
Because bitcoin can still do things that no other money can do. Sending money around the world instantly has value and can easily put a dent in Visa, MasterCard, PayPal, Western Union, MoneyGram, Alibaba/AliPay, etc. If this happens, the amount of money that goes into bitcoin just using these services will make each coin worth at least $10,000.
So the question becomes, do you believe that bitcoin has the power to disrupt the financial world or not? If you do, you should buy some and hold them longterm.
Yep. I'm so disappointed with my 10x return in less than a year. Yeah, it's not the 20x it used to be, but c'est la vie.
Really? Because unlike the diamond, I spent $48 on a bitcoin that's now worth $550. Just sold one. Yep, they gave me the money.
So, turns out you're wrong. Monopoly money is a better investment than diamonds. Sorry to disappoint you.
How about a Lamborghini? A bitcoin owner known as Goat bought one with bitcoins.
As people say on BitcoinTalk.org: "If you don't control the keys, you don't really own the bitcoins."
Bitcoin payment processors such as Coinbase and Bitpay protect the vendor from this already.
Knowing Karpeles from what I read, that document is most likely a fake.
Sheer. Unadulterated. Laziness.
The bitcoins probably didn't disappear either. Some believe that small thefts have been happening there for a while because of their poor coding.
My bitcoins at their height, were worth about $1200. Right now, they're worth about $600. That seems closer to half to me.
At the beginning of the end of Mt. Gox, they were only worth about $800, so I only lost about 25%. Considering how bad this news is, it really doesn't seem that bad.
The doc seems like a very obvious fake to me.
Between Enron and Lehman Brothers I'm waiting for someone to tell me why US Dollars are such a wonderful idea.
Bitcoin is digital cash. You need to safeguard it as such. You don't leave large amounts of money on the books with known shady people in foreign countries, just like you don't hand your wallet full of $10,000 to the 3-card-monte guy for long-term safekeeping.
But bitcoin is money. And people steal money. That doesn't mean that bitcoin can't do things that no other money can do.
1. Um, OK. So then why in high school could I turn the pages of the book in my head and read all the chapter headings? And now, if my memory triggers, I can recite verbatim strings that the rest of the family thinks they read differently (they're always wrong in this situation and I'm always right). I always wrote my notes in very large print so I could read them during the test. Everybody thought I was weird.
I have horrible situational memory (everyone else is right and I am always incorrect), but my photographic memory is very good, noticeably and provably better than everyone around me. Now, my older daughter is just starting to figure out how it works and she is starting to take notes in very large print.
It's was in the US too, until Hollywood bought Congress and the DOJ.
If you believe that, you really should watch "The Fifth Estate". The amount of world change that 2 people could institute in a span of 2-3 years is shocking.
Exactly. So why did he hate "The Fifth Estate" so much? Sounds like it captured him accurately or even better than reality (since it didn't show up treating women like sex objects).
And the airport only has 2 gates, so nobody else can fly in there.
Most servers cannot give you more than 30 Mbps. It's almost impossible as a home user to run into that situation, so he has a valid point.
I say this as someone who has just upgraded from 35 Mbps to 100
The 50 Mbps option here in California costs $65 / month. Fortunately, I'm getting 113 measured, but there is no such thing as 50 Mbps for $40 here. That would only get you 15 Mbps.
That's OK. Pretty soon the whole map will just say, "Comcast." That will make things a lot easier, don't you think?
There was no such thing as "broadband" in the late 1980s and early 1990s, prior to the discovery of the web by the public in about 1994. I was at a University and we ordered a T1 line (1.5 Mbps) FOR THE WHOLE CAMPUS.