Bitcoins

Marazan

BoracicLint wrote: »

Could see $1700 before the current bubble bursts according to Forbes:

http://www.forbes.com/sites/kashmirhill/2013/11/18/analyst-predicts-bitcoin-will-go-over-1000-this-is-a-classic-bubble/

That's not Forbes, that's just some random blog. Forbes has two parts, the "normal" Forbes part and the blogging platform.

BoracicLint

Marazan wrote: »

That's not Forbes, that's just some random blog. Forbes has two parts, the "normal" Forbes part and the blogging platform.

Its one of the top stories on Forbes.com?

BoracicLint

dryhat wrote: »

The American senate committe has given a green light to Bitcoin.

Start your engines gentlemen.

http://www.bbc.co.uk/news/technology-24986264

So much for America putting a kybosh on Bitcoin. Good news!

dryhat

I think we are due a correction.

Marazan

BoracicLint wrote: »

Its one of the top stories on Forbes.com?

Everything outside the Forbes Magazine section is just blogs, even if produced by "Forbes Staff". Forbes has set itself up as a (really good) blogging platform like Wordpress or Blogger.com but with the cache of the Forbes name. Although I should apologise as I had classified that link as "blog" without following it due to the URL structure, it looks like Forbes has changed their site so even the Forbes Magazine articles have the same URL structure as the blogs now.

BoracicLint

dryhat wrote: »

I think we are due a correction.

Agreed. But I think this will have strong support as many people are on the sidelines waiting to buy in on a dip, which could send the value even higher after the drop.

JohnRo

What price integrity.

Satoshi

BoracicLint wrote: »

Agreed. But I think this will have strong support as many people are on the sidelines waiting to buy in on a dip, which could send the value even higher after the drop.

Im one of them, anything under $400 Im putting a few more grand in.

Satoshi

Marazan wrote: »

That is Satoshi's contention in the original paper but it depends on what the attackers intention is. Satoshi contends that once they have the keys to the mansion the attackers would prefer to peacefully live there rather than stripping it for valuables. A protocol that is not designed to protect against a truly malicious attack - say someone deliberately trying to take down Bitcoin - is dangerously weak in the real world.

And what when the network gets to it's 21 million end goal? There is no money in mining new coins, only whatever transaction fees the rent seeking miners can get. At that point any attack would solely be double spending attacks and trashing the network.

What a waste of energy mining for virtual units of currency. The world is in an energy crisis we are looking at a huge deficit going forward and after Fukushima the entire world wants to turn their back on nuclear generation. Why are all these powerful computers around the world using up large amounts of power to solve blocks of problems created by Satoshi Nakamoto to try and make people think these virtual units of currency as the same as money gold and silver which need actual mining which also uses lots of energy. This almost infinitely complex mathematical block solving, that all this energy is being used for (wasted on) is just a charade to deceive people into thinking bitcoins are similar to gold and silver, but on top of all that power being wasted not producing anything even more power has to be given by the miners to run all the bitcoin systems around the world. The entire thing is a waste of energy as well as being very unstable and open to limitless problems that could make bitcoin go to its intrinsic value of nothing.

JohnRo

It's called progress..
in the words of Ghandi "Healthy discontent is the prelude to progress"

but you're right... far too much wasted energy. Let's just stop this madness now and allow the crooks running the corrupt, privileged, monopoly money cesspit to continue enriching themselves at everyone else's expense.

So, how were you going to stop it again?