Bitcoins

padington

Satoshi wrote: »

One of the new bio currencies will prob kill bitcoin

http://www.youtube.com/watch?v=0K81tyUYt1E

not based on fresh air:rotfl:

That guy called the end to the silver bubble really early. Got it right big time.

Satoshi

going down again, volatility a traders paradise

bitcoin is only any good for speculation,:o

Satoshi

Is Bitcoin a Trojan Horse of Chase?

http://www.youtube.com/watch?v=fVPMETLl5AI

It would be funny if after Max Kieser is always dissing JPMorgan chase for rigging markets then after ramping bitcoin it turns out JPM chase was behind bitcoin itself :rotfl:

N1AK

JohnRo wrote: »

All you're really saying is that you either don't know anything about bitcoin, don't know anything about ponzi schemes, or both.

Because the alternative: That you wouldn't understand either if you were beaten round the head with one during a 3 year course on the subject, appears so unlikely :rotfl:

George_Michael

Satoshi wrote: »

Its just numbers there is nothing there.

The UK has a rough total wealth of about £8 Trillion.
Do you think that there is actually this amount of currency or gold reserves in existence?
This figure just a series of 1's and 0's passing through computers and in reality there is not much there apart from promises.

IronWolf

Satoshi wrote: »

The advantage is its outside the banking system.

The latest Kiser report shows how universities are accepting bitcoins for payment for education now.

Yes the rent would be calcualted everymonth in fiat to crypto exchange rates.

So its main advantage is tax evasion

IronWolf

George_Michael wrote: »

The UK has a rough total wealth of about £8 Trillion.
Do you think that there is actually this amount of currency or gold reserves in existence?
This figure just a series of 1's and 0's passing through computers and in reality there is not much there apart from promises.

But the point of money isn't really to store wealth, it is to allow the exchange of assets with ease, using currency as an interim good for transfer. So you can have far more in assets that you have in currency without any problem whatsoever.

BoracicLint

JP Morgan is trying to compete with Bitcoin, applying for a patent for a 'digital wallet' and instant, anonymous payment transfer service

http://rt.com/business/bitcoin-jpmorgan-internet-cash-116/

It will be interesting to see how this develops. I've always said that the threat to Bitcoin will come from a Financial Institution with the means and credibility to offer a service that provides much of the advantages of Bitcoin, without the disadvantage of being associated with money laundering and tax evasion.

JohnRo

Yeah clearly JPM can't see that it's all just a tulip bulb ponzi either... the flat earth brigade ought to warn them asap. The irony of such a thing would clearly be lost on them though.

Nothing wrong with competition of course, it may well force the bitcoin foundation to step up and improve things further.

The issue I have is JPM attempting to snaffle crypto currency and protocol patents like greedy piggies in an attempt to stifle any such competition. I still don't think btc has anything to worry about in terms of its fundamental design. The issue is and always was going to be adoption in a society that seems much happier getting royally shafted by someone else they can ultimately blame than simply taking full responsibility.

Interesting times.

Jegersmart

BoracicLint wrote: »

JP Morgan is trying to compete with Bitcoin, applying for a patent for a 'digital wallet' and instant, anonymous payment transfer service

http://rt.com/business/bitcoin-jpmorgan-internet-cash-116/

It will be interesting to see how this develops. I've always said that the threat to Bitcoin will come from a Financial Institution with the means and credibility to offer a service that provides much of the advantages of Bitcoin, without the disadvantage of being associated with money laundering and tax evasion.

I don't think ANY financial institution has "credibility" to offer this type of "currency" - mainly because JPM and almost every other large institution are committing fraud and other illegal activities (including tax evasion ofc) on an ongoing basis. I do keep cash in a bank purely because I have to, I certainly would not trust JPM or any organisation like them with this type of scheme.

I don't see it as a "disadvantage" to be associated with a currency that the media is propagandising with connections to criminality. After all, my normal fiat currency is by far the most used in money laundering, tax evasion and all forms of crime generally.

I think the problem is that most people do not know or do not care to know how corrupt the current institutions, how they operate and how much they cost us as a society (and taxpayers!).

DYOR ofc.

J