Bitcoins

dryhat

Latest episode of The Keiser Report is all about Bitcoin.

Max and Stacy discuss Bitcoin 2.0 - the latest application of the blockchain technology ...

http://rt.com/shows/keiser-report/episode-551-max-keiser-769/

sabretoothtigger

csm888 wrote: »

A little of my Market Analysis:
The market is being manipulation to be above $880-$900. (gox)

Maybe the figure in Renminbi is more important

There was a floor in gold too at one point, I dont think its offical or done on purpose but China is an exporting country so naturally has more money from abroad

Satoshi

dryhat wrote: »

Latest episode of The Keiser Report is all about Bitcoin.

Max and Stacy discuss Bitcoin 2.0 - the latest application of the blockchain technology ...

http://rt.com/shows/keiser-report/episode-551-max-keiser-769/

Did you go to that meet up dryhat?

How many there are also silver stackers?

Could you help me understand what bitcoin 2.0 actually is? I was watched that episode it sounds like there is a way of backing bitcoin with gold?

If that happened then bitcoin 1.0 would go to nothing and bitcoin 2.0 would be the free market choice.

Im all for competition in currencies and let the free market sort itself out.

dryhat

Satoshi wrote: »

Did you go to that meet up dryhat?

How many there are also silver stackers?

Could you help me understand what bitcoin 2.0 actually is? I was watched that episode it sounds like there is a way of backing bitcoin with gold?

Im all for competition in currencies and let the free market sort itself out.

The meet-up was really good.

"Bitcoin 2.0" does not replace bitcoins as a currency. Rather, it describes the new innovative applications that utilise the Bitcoin "blockchain" technology.

Here's a brief explaination...

http://voices.yahoo.com/bitcoin-20-explained-colored-coins-vs-mastercoin-vs-12475857.html?cat=15

Satoshi

dryhat wrote: »

The meet-up was really good.

"Bitcoin 2.0" does not replace bitcoins as a currency. Rather, it describes the new innovative applications that utilise the Bitcoin "blockchain" technology.

Here's a brief explaination...

http://voices.yahoo.com/bitcoin-20-explained-colored-coins-vs-mastercoin-vs-12475857.html?cat=15

I'm going to start calling him Mad Max Keiser. Or maybe I just don't get Bitcoin2.0? How does the 3rd party know if I actually have the gold or shares backing the Bitcoin? Who's going to track me down and claim the gold? Then some "Mastercoin" will derivitize it and we are sold happiness by removing fear because there is a distributed trust? How is this supposed to be open and transparent and give Bitcoin2.0 AAA credit? Maybe I will buy some 2cent Bitcoin2.0's and ride it up to $2000, but I think 2.0 is the great bamboozle.

Stacy Herbert is already talking bout bitcoin 3.0 and 4.0????????????

dryhat

^^^ Sorry.

I didn't understand any of that.

Satoshi

dryhat wrote: »

^^^ Sorry.

I didn't understand any of that.

If bitcoin 2.0 is supposed to be backed by silver or gold how do we know the bullion is really there?

Is that simple enough?

JohnRo

You're missing the point entirely I think. The blockchain is the framework on which the implementation of all manner of possibilities will be built. The future 2,3,4 iterations of what bitcoin currently is won't change how the network protocol functions in future, it's only the implementation or activation of features within the bitcoin protocol already available but dormant that will allow expansion into and use in other areas.

So what you'll have is gold and silver and a whole bunch of other stuff, backed by bitcoin because the btc network is decentralised and incorruptible. That's what will give much needed integrity to anything transacted in the blockchain.

sabretoothtigger

So gold will be backed by bitcoins, this is sacrilege :mad:

Seriously sounds like some interesting additional layers over the basic p2p currency. Alot of operations now are plain retailers or even 1 men deals subject to fraud

You can buy metals like an etf with btc. I have some listed crypto stocks myself, the actual exchange is reliant on one company or location though.
So I can totally see the point to improving security to that side, distribution and network confirmation over a normal website keyed setup.
If nothing else, the bitcoin websites are regularly attacked because it pays money to do so.
Everyone knows they are the weakpoint, no chain is stronger then its weakest link

dryhat

Anyone who has been put off buying bitcoins because of the apparent difficulty, will, from Monday 27th (tomorrow), be able to buy bitcoins from any corner shop that has a "PayPoint" terminal (there are 27,000 in the country)

http://cashcoin.zipzapinc.com/details.php

This is a big development and will hopefully lead to an increase in adoption.