- May 2, 2010
- 9,785
- 15,812
THanks for all the info and links you've posted in this thread, easily the top resource for bitcoin info now mate.
BitCoin and Cryptocurrencies - Will they fail? My 3 Predictions!
- Thread starter Wilson Grant Fisk
- Start date
THanks for all the info and links you've posted in this thread, easily the top resource for bitcoin info now mate.
Wilson Grant Fisk
Elite Member
- Nov 10, 2012
- 15,677
- 46,845
Thanks Mate. Appreciated.
Wilson Grant Fisk
Elite Member
- Nov 10, 2012
- 15,677
- 46,845
Is anybody using/tried Ripple?
https://ripple.com/
Bitcoin rivals churn out new digital currencies but Ripple stands out
http://www.afr.com/p/technology/bitcoin_rivals_churn_out_new_digital_ahwu1amvnm1zzCjtBlqCPP
$1.2M Heist Doesn't Bode Well For Bitcoins as Secure Currency
http://socialtimes.com/1-2m-heist-doesnt-bode-well-bitcoins-secure-currency_b137530
https://ripple.com/
Bitcoin rivals churn out new digital currencies but Ripple stands out
http://www.afr.com/p/technology/bitcoin_rivals_churn_out_new_digital_ahwu1amvnm1zzCjtBlqCPP
$1.2M Heist Doesn't Bode Well For Bitcoins as Secure Currency
http://socialtimes.com/1-2m-heist-doesnt-bode-well-bitcoins-secure-currency_b137530
ponzi, scam, pyramid, etc, etc
nah, but seriously, I've not messed with it. I had some free ones at one time and traded them when they were worth something.
Wilson Grant Fisk
Elite Member
- Nov 10, 2012
- 15,677
- 46,845
ponzi, scam, pyramid, etc, etc
nah, but seriously, I've not messed with it. I had some free ones at one time and traded them when they were worth something.
Yeah, I think I will need to have look at some of the other less well known currencies.
I had heard of Ripple but I didn't really give it much attention.
Just reading some more in depth articles now.
You already know what I think (not what I want) will happen to BTC but one of them might come forward as a serious successor.
Wilson Grant Fisk
Elite Member
- Nov 10, 2012
- 15,677
- 46,845
Last edited:
Wilson Grant Fisk
Elite Member
- Nov 10, 2012
- 15,677
- 46,845
Bitcoin would benefit from being boring
Last week, Bitcoin prices catapulted from around $200 to over $350. That made the digital currency's total purchasing power an incredible $3.2 billion — all generated from nothing but people's desire to participate in a new, intangible system. And now, some major offline chains like Subway are beginning to join online-only businesses like Reddit, Wordpress, and Amazon in accepting the digital currency.
But Bitcoin has many skeptics.
Joe Weisenthal of Business Insider wrote last week that Bitcoin is a "currency for clowns," claiming it has no intrinsic value, unlike state-backed currencies. Column after column after column after column call Bitcoin a bubble that is going to burst. And indeed, while Bitcoin is one of the most fascinating economic and social developments of our time, it is hard to see it as a successful monetary system at present.
(Related: Everything you need to know about the Bitcoin boom.)
Money has three functions: A medium of exchange, a stable unit of account, and a store of purchasing power. While Bitcoin is beginning to achieve a wider acceptance with merchants as a medium of exchange, its extreme volatility in price means that it cannot really be seen as a stable unit of account or store of purchasing power. Its price fluctuations are far too drastic:
Bitcoin appears to be behaving as a speculative vehicle — less like a currency and more like an early stage technology stock. Speculators are buying into a novel piece of technology in the hope that it will become the next big thing. Whether Bitcoin rapidly goes bust like the dotcom failures Webvan or Pets.com, or whether it grows into a behemoth like Google, Amazon, or yes, Paypal, remains to be seen.
But if it were actually used as a piece of useful technology, than it might have a better shot at sticking around. Let me explain.
There are three main threats to Bitcoin at present:
1. Most obviously, the speculation itself could be problematic. Big booms often lead to big busts, and severe volatility may prove a big hurdle to further growth.
2. Bitcoin's challenge to state power — not least the state monopoly over the issuance of currency — is also a weakness. Since it's an alternative currency system, many governments may worry that Bitcoin could become a means for tax evasion. While prohibiting the currency wouldn't stop people from using Bitcoins entirely — they are an anonymous and global system — large countries like the U.S. outlawing Bitcoin would make it much harder for the digital currency to gain any kind of mainstream business acceptance.
3. Even if Bitcoin succeeds and becomes a global system, it will run into problems typical of other hard currencies (like the gold standard): Deflationary slumps where wages and the prices of goods and services fall. Debt denominated before the slump will become much harder to repay, leading to defaults, business failures, and unemployment, which will worsen the slump in a kind of nightmarish deflationary spiral.
However, if Bitcoin embraces its role as a complementary currency and payments system — rather than aspiring to be a sole currency — then mass deflationary busts may not prove to be a problem, and the danger of it being outlawed by powerful countries would diminish. There would be other benefits as well.
People who might not be looking to create a revolution could still benefit from its low-friction payments system. Forward-thinking governments could consider building Bitcoin-style features into existing currencies for frictionless payments. People could exchange regular dollars for virtual dollars kept in a Bitcoin-style virtual wallet to be used for transactions. This would remove what is probably the greatest disincentive against partaking in the Bitcoin economy: Speculation. If the price of Bitcoin is constantly rising due to growing speculation, people will refrain from economic activity and just sit on their Bitcoins, watching their purchasing power grow. Having a virtual payments system denominated in regular currency removes this barrier.
So while the crypto-anarchists may envision a world in which the state's monopoly on money is undermined by a new decentralized monetary system, the reality of Bitcoin may — and probably should — be far more mundane.
Source:http://theweek.com/article/index/252627/bitcoin-would-benefit-from-being-boring
Bitcoin will continue to Dominate as Alternative Currency
Source: http://investmentwatchblog.com/bitc...continue-to-dominate-as-alternative-currency/
Hong Kong Bitcoin site GBL goes missing along with $4.1M in investors' cash
http://siliconangle.com/blog/2013/1...es-missing-along-with-4-1m-in-investors-cash/
Bitcoin stock exchange BitFunder announces closure
http://www.coindesk.com/bitcoin-stock-exchange-bitfunder-announces-closure/
itBit Taps Akamai to Help Protect and Optimize Performance for Global Bitcoin Exchange
http://online.wsj.com/article/PR-CO-20131112-905979.html?dsk=y
Alix Announces Initial Bitcoin Mining Exploration Transaction / Implementation of Bitcoin Exchange
http://online.wsj.com/article/PR-CO-20131112-906666.html?dsk=y
The Winklevii: Bitcoin is gold 2.0; the twins going through process to launch Bitcoin ETF
http://www.cnbc.com/id/101190181
Last week, Bitcoin prices catapulted from around $200 to over $350. That made the digital currency's total purchasing power an incredible $3.2 billion — all generated from nothing but people's desire to participate in a new, intangible system. And now, some major offline chains like Subway are beginning to join online-only businesses like Reddit, Wordpress, and Amazon in accepting the digital currency.
But Bitcoin has many skeptics.
Joe Weisenthal of Business Insider wrote last week that Bitcoin is a "currency for clowns," claiming it has no intrinsic value, unlike state-backed currencies. Column after column after column after column call Bitcoin a bubble that is going to burst. And indeed, while Bitcoin is one of the most fascinating economic and social developments of our time, it is hard to see it as a successful monetary system at present.
(Related: Everything you need to know about the Bitcoin boom.)
Money has three functions: A medium of exchange, a stable unit of account, and a store of purchasing power. While Bitcoin is beginning to achieve a wider acceptance with merchants as a medium of exchange, its extreme volatility in price means that it cannot really be seen as a stable unit of account or store of purchasing power. Its price fluctuations are far too drastic:
Bitcoin appears to be behaving as a speculative vehicle — less like a currency and more like an early stage technology stock. Speculators are buying into a novel piece of technology in the hope that it will become the next big thing. Whether Bitcoin rapidly goes bust like the dotcom failures Webvan or Pets.com, or whether it grows into a behemoth like Google, Amazon, or yes, Paypal, remains to be seen.
But if it were actually used as a piece of useful technology, than it might have a better shot at sticking around. Let me explain.
There are three main threats to Bitcoin at present:
1. Most obviously, the speculation itself could be problematic. Big booms often lead to big busts, and severe volatility may prove a big hurdle to further growth.
2. Bitcoin's challenge to state power — not least the state monopoly over the issuance of currency — is also a weakness. Since it's an alternative currency system, many governments may worry that Bitcoin could become a means for tax evasion. While prohibiting the currency wouldn't stop people from using Bitcoins entirely — they are an anonymous and global system — large countries like the U.S. outlawing Bitcoin would make it much harder for the digital currency to gain any kind of mainstream business acceptance.
3. Even if Bitcoin succeeds and becomes a global system, it will run into problems typical of other hard currencies (like the gold standard): Deflationary slumps where wages and the prices of goods and services fall. Debt denominated before the slump will become much harder to repay, leading to defaults, business failures, and unemployment, which will worsen the slump in a kind of nightmarish deflationary spiral.
However, if Bitcoin embraces its role as a complementary currency and payments system — rather than aspiring to be a sole currency — then mass deflationary busts may not prove to be a problem, and the danger of it being outlawed by powerful countries would diminish. There would be other benefits as well.
People who might not be looking to create a revolution could still benefit from its low-friction payments system. Forward-thinking governments could consider building Bitcoin-style features into existing currencies for frictionless payments. People could exchange regular dollars for virtual dollars kept in a Bitcoin-style virtual wallet to be used for transactions. This would remove what is probably the greatest disincentive against partaking in the Bitcoin economy: Speculation. If the price of Bitcoin is constantly rising due to growing speculation, people will refrain from economic activity and just sit on their Bitcoins, watching their purchasing power grow. Having a virtual payments system denominated in regular currency removes this barrier.
So while the crypto-anarchists may envision a world in which the state's monopoly on money is undermined by a new decentralized monetary system, the reality of Bitcoin may — and probably should — be far more mundane.
Source:http://theweek.com/article/index/252627/bitcoin-would-benefit-from-being-boring
Bitcoin will continue to Dominate as Alternative Currency
Source: http://investmentwatchblog.com/bitc...continue-to-dominate-as-alternative-currency/
Hong Kong Bitcoin site GBL goes missing along with $4.1M in investors' cash
http://siliconangle.com/blog/2013/1...es-missing-along-with-4-1m-in-investors-cash/
Bitcoin stock exchange BitFunder announces closure
http://www.coindesk.com/bitcoin-stock-exchange-bitfunder-announces-closure/
itBit Taps Akamai to Help Protect and Optimize Performance for Global Bitcoin Exchange
http://online.wsj.com/article/PR-CO-20131112-905979.html?dsk=y
Alix Announces Initial Bitcoin Mining Exploration Transaction / Implementation of Bitcoin Exchange
http://online.wsj.com/article/PR-CO-20131112-906666.html?dsk=y
The Winklevii: Bitcoin is gold 2.0; the twins going through process to launch Bitcoin ETF
http://www.cnbc.com/id/101190181
Last edited by a moderator:
Svettod
Junior Member
- Jun 19, 2010
- 189
- 56
I think the more governments fight it, the more widespread it becomes. I think it will be very interesting how this whole cryptocoin thing plays out in the future, but the idea of decentralized computing is not going away. The entire concept of "decentralized" is to take power from the few and spread it out across the many. If people start accepting bitcoin for goods and services the dollar becomes irrelevant. This is the biggest threat and the boys @ the FED realize this fact. So if people want Bitcoin to go mainstream, start using it amongst each other for buying and selling stuff. Instead of using paypal and all the other online pay systems, start using Bitcoin to buy and sell things. This is the way forward. People are so obsessed with how much 1 btc is in dollar terms, they forget what the point of the BTC really is. Freedom.
Wilson Grant Fisk
Elite Member
- Nov 10, 2012
- 15,677
- 46,845
I haven't posted since back in April, during/right after the crash from $266. I know that a few of you took my advice and bought some coins, hopefully you held onto them. At the time of this post, bitcoin is sitting at $444. That's nearly a +/- 500% return in seven months. Those who were adamant that it was the end of bitcoin, I hope you invested your money in something that gave equal returns.
Wilson Grant Fisk
Elite Member
- Nov 10, 2012
- 15,677
- 46,845
Bitcoin Price Hits a New Record
http://stream.wsj.com/story/markets/SS-2-5/SS-2-380916/
Hire of Raj Date Boosts Bitcoin Credibility
http://online.wsj.com/news/articles/SB10001424052702303559504579196301325588672
Bitcoin trading platform 'Global Bond Limited' defrauds China investors
http://economictimes.indiatimes.com...auds-china-investors/articleshow/25753699.cms
Bitcoin mining rig firm claims $3m revenue in just FOUR DAYS
http://www.theregister.co.uk/2013/11/14/firm_makes_3million_during_bitcoin_gold_rush/
Bitcoin Value Passes $400 Ahead of Virtual Currency Hearing at US Senate
http://www.ibtimes.co.uk/articles/5...-value-chart-400-dollars-senate-committee.htm
Is Bitcoin For Real? Macroeconomic Considerations For An Alternative Currency
http://seekingalpha.com/article/183...ic-considerations-for-an-alternative-currency
Will Bitcoin Ever Rival U.S. Dollar?
http://www.npr.org/2013/11/14/245149077/the-last-word-in-business
Can the Bitcoin survive?
http://gulfnews.com/business/technology/can-the-bitcoin-survive-1.1254994
Bitcoin heads towards $400 as market shrugs off latest incidents
http://gigaom.com/2013/11/13/bitcoin-heads-to-400-as-market-shrugs-off-latest-incidents/
Here's Why The Winklevoss Twins LOVE Bitcoin
http://www.businessinsider.com/winklevoss-twins-on-bitcoin-2013-11
Bitcoin trading platform defrauds Chinese investors
http://www.rawstory.com/rs/2013/11/14/bitcoin-trading-platform-defrauds-chinese-investors/
Bitcoin Tops $400
http://www.economicpolicyjournal.com/2013/11/bitcoin-tops-400.html
Bitcoin Weekly 2013 November 13: Bitmit closing up shop, Chinese exchange GBL vanishes on investors, Shopify adds 70,000 merchants to the BTC market
http://siliconangle.com/blog/2013/1...opify-adds-70000-merchants-to-the-btc-market/
Bitcoin Coming To Your 401(k)?
http://www.forbes.com/sites/robrussell/2013/11/13/bitcoin-coming-to-your-401k/
Bitcoin pushes above $400 for new record high
http://www.marketwatch.com/story/bitcoin-pushes-above-400-for-new-record-high-2013-11-13
Bitcoin's cruel world: scams, thefts and the FBI's influence
While the cops are away, the liars and thieves come out to play. Bitcoin's world is a cruel one - making it a fascinating technology to keep tabs on. Yet at the same time, its risks are immense to investors and businesses working inside the bitcoin economy.
Can bitcoin ever reach a stage of legitimacy? It's obvious that an unregulated, decentralized currency is a needed instrument in today's constantly changing global financial markets. The fact that bitcoin has worth, that it keeps being a topic of financial discussion, is proof of concept. But bitcoin, as well as other distributed systems of payments, is also quite disruptive.
[h=2]Bitfloor[/h]The exchange Bitfloor was one of the first to feel the wrath of the US banking industry's fears of bitcoin. In April, that exchange had to shut its doors after its bank account was permanently closed. It began refunding users in July, but this proved that banks did not yet want to cooperate with bitcoin.
There's been too much risk involved in virtual currencies, something bankers despise. But it's clear that the government wants to provide some guidance for the US banking industry and others, so that's a step forward. The main reason is because government agencies want to be able to track criminal activities such as money laundering.
Bitfloor was an example of what might happen if you get tangled with banks, which want to comply with government agencies like the FBI. This shutdown event happened after 24,000 BTC was stolen from Bitfloor previously, in September 2012. Back then, those bitcoins were worth $250,000. Today, they are worth over $8m.
[h=2]GBL[/h]Imagine if the bank you did business with just disappeared one day. Wake up, and all of your money is completely gone. It isn't a scenario that happens in banks residing within countries that have a lot of financial regulation. But with bitcoin, it happens. Hong Kong-based exchange GBL is an example of this.
After being in business since May of 2013, the site shut down near the end of October, taking $4.1m in investor money with it. In the Chinese bitcoin market, where BTC China has the number one global bitcoin exchange ranking, regulation is not even on the horizon. The lack of regulation makes these types of things more common, begging the question why there isn't more security.
"This is happening frequently, and I think this is not good for the bitcoin ecosystem," says Ankur Nadwani, the developer behind payment project BitMonet. "Cases like these show that there is a market for companies in the bitcoin space that focus on security."
[h=2]Inputs.io[/h]On 23rd October, hackers were able to compromise the supposed high-security bitcoin wallet inputs.io, which like most wallets is hosted by a third party. The estimated value of those bitcoins was over $1.2m, which has, in a very short amount of time, become much more valuable due to the increase in BTC prices.
The developer, who has gone by the name of Tradefortress on bitcoin forums, said he does not plan to contact the police since bitcoins are untraceable, which is not entirely true. Tradefortress has already had a history of truth aversion, as he has claimed he once worked as a developer on Blockchain.info, which that site has denied.
"Tradefortress has never worked for or written any code for Blockchain.info. He claimed a bounty to help package the chrome extension for submission to the Chrome extension gallery but in the end the work was not used," said Ben Reeves of Blockchain.info.
[h=2]There is some good out there[/h]Probably one of the worst things about bitcoin scams is there is not much an investor can do if BTC or any other decentralized currency is stolen. Reporting it to the FBI makes sense, but it doesn't mean that there will be any retribution.
"The individual investors are unfortunately the ones who bear the brunt of these scams, and often times there is no recourse, particularly if the exchange was a victim as well," says Andrew Beal, corporate attorney at Los Angeles-based firm Crowley Strategy who works primarily with startup technology companies.
Life's not fair, and things can become really unruly if one decides to place their chips on a bitcoin bet. This was evident once again with a Czech exchange called Bitcash.cz, which has had 4,000 customer wallets emptied by thieves. Expect this to continue, with only the strongest bitcoin companies surviving and thriving.
"The most important thing an investor can do is be selective in deciding where to put their money," says Beal, the attorney. "There are a lot of honest, reputable companies in this space who are committed to providing safe trading environments."
That's why it is always important for investors in any market perform their due diligence before making any investing decisions. Virtual currencies possess major growth potential, but also could become completely worthless due to a number of factors.
Ultimately, the bottom line is this: Don't invest any money you cannot afford to lose.
Source: http://www.coindesk.com/bitcoins-cruel-world-scams-thefts-fbis-influence/
http://stream.wsj.com/story/markets/SS-2-5/SS-2-380916/
Hire of Raj Date Boosts Bitcoin Credibility
http://online.wsj.com/news/articles/SB10001424052702303559504579196301325588672
Bitcoin trading platform 'Global Bond Limited' defrauds China investors
http://economictimes.indiatimes.com...auds-china-investors/articleshow/25753699.cms
Bitcoin mining rig firm claims $3m revenue in just FOUR DAYS
http://www.theregister.co.uk/2013/11/14/firm_makes_3million_during_bitcoin_gold_rush/
Bitcoin Value Passes $400 Ahead of Virtual Currency Hearing at US Senate
http://www.ibtimes.co.uk/articles/5...-value-chart-400-dollars-senate-committee.htm
Is Bitcoin For Real? Macroeconomic Considerations For An Alternative Currency
http://seekingalpha.com/article/183...ic-considerations-for-an-alternative-currency
Will Bitcoin Ever Rival U.S. Dollar?
http://www.npr.org/2013/11/14/245149077/the-last-word-in-business
Can the Bitcoin survive?
http://gulfnews.com/business/technology/can-the-bitcoin-survive-1.1254994
Bitcoin heads towards $400 as market shrugs off latest incidents
http://gigaom.com/2013/11/13/bitcoin-heads-to-400-as-market-shrugs-off-latest-incidents/
Here's Why The Winklevoss Twins LOVE Bitcoin
http://www.businessinsider.com/winklevoss-twins-on-bitcoin-2013-11
Bitcoin trading platform defrauds Chinese investors
http://www.rawstory.com/rs/2013/11/14/bitcoin-trading-platform-defrauds-chinese-investors/
Bitcoin Tops $400
http://www.economicpolicyjournal.com/2013/11/bitcoin-tops-400.html
Bitcoin Weekly 2013 November 13: Bitmit closing up shop, Chinese exchange GBL vanishes on investors, Shopify adds 70,000 merchants to the BTC market
http://siliconangle.com/blog/2013/1...opify-adds-70000-merchants-to-the-btc-market/
Bitcoin Coming To Your 401(k)?
http://www.forbes.com/sites/robrussell/2013/11/13/bitcoin-coming-to-your-401k/
Bitcoin pushes above $400 for new record high
http://www.marketwatch.com/story/bitcoin-pushes-above-400-for-new-record-high-2013-11-13
Bitcoin's cruel world: scams, thefts and the FBI's influence
While the cops are away, the liars and thieves come out to play. Bitcoin's world is a cruel one - making it a fascinating technology to keep tabs on. Yet at the same time, its risks are immense to investors and businesses working inside the bitcoin economy.
Can bitcoin ever reach a stage of legitimacy? It's obvious that an unregulated, decentralized currency is a needed instrument in today's constantly changing global financial markets. The fact that bitcoin has worth, that it keeps being a topic of financial discussion, is proof of concept. But bitcoin, as well as other distributed systems of payments, is also quite disruptive.
[h=2]Bitfloor[/h]The exchange Bitfloor was one of the first to feel the wrath of the US banking industry's fears of bitcoin. In April, that exchange had to shut its doors after its bank account was permanently closed. It began refunding users in July, but this proved that banks did not yet want to cooperate with bitcoin.
There's been too much risk involved in virtual currencies, something bankers despise. But it's clear that the government wants to provide some guidance for the US banking industry and others, so that's a step forward. The main reason is because government agencies want to be able to track criminal activities such as money laundering.
Bitfloor was an example of what might happen if you get tangled with banks, which want to comply with government agencies like the FBI. This shutdown event happened after 24,000 BTC was stolen from Bitfloor previously, in September 2012. Back then, those bitcoins were worth $250,000. Today, they are worth over $8m.
[h=2]GBL[/h]Imagine if the bank you did business with just disappeared one day. Wake up, and all of your money is completely gone. It isn't a scenario that happens in banks residing within countries that have a lot of financial regulation. But with bitcoin, it happens. Hong Kong-based exchange GBL is an example of this.
After being in business since May of 2013, the site shut down near the end of October, taking $4.1m in investor money with it. In the Chinese bitcoin market, where BTC China has the number one global bitcoin exchange ranking, regulation is not even on the horizon. The lack of regulation makes these types of things more common, begging the question why there isn't more security.
"This is happening frequently, and I think this is not good for the bitcoin ecosystem," says Ankur Nadwani, the developer behind payment project BitMonet. "Cases like these show that there is a market for companies in the bitcoin space that focus on security."
[h=2]Inputs.io[/h]On 23rd October, hackers were able to compromise the supposed high-security bitcoin wallet inputs.io, which like most wallets is hosted by a third party. The estimated value of those bitcoins was over $1.2m, which has, in a very short amount of time, become much more valuable due to the increase in BTC prices.
The developer, who has gone by the name of Tradefortress on bitcoin forums, said he does not plan to contact the police since bitcoins are untraceable, which is not entirely true. Tradefortress has already had a history of truth aversion, as he has claimed he once worked as a developer on Blockchain.info, which that site has denied.
"Tradefortress has never worked for or written any code for Blockchain.info. He claimed a bounty to help package the chrome extension for submission to the Chrome extension gallery but in the end the work was not used," said Ben Reeves of Blockchain.info.
[h=2]There is some good out there[/h]Probably one of the worst things about bitcoin scams is there is not much an investor can do if BTC or any other decentralized currency is stolen. Reporting it to the FBI makes sense, but it doesn't mean that there will be any retribution.
"The individual investors are unfortunately the ones who bear the brunt of these scams, and often times there is no recourse, particularly if the exchange was a victim as well," says Andrew Beal, corporate attorney at Los Angeles-based firm Crowley Strategy who works primarily with startup technology companies.
"There are a lot of honest, reputable companies in this space who are committed to providing safe trading environments."
Yet it's already clear there are a number of companies who are putting time and money into making virtual currencies viable for the mainstream. ItBit, as a recent example, is an exchange using NASDAQ technology looking to attract accredited and then retail investors, and has secured over $5.5m in total funding to build something reliable for bitcoin.
Life's not fair, and things can become really unruly if one decides to place their chips on a bitcoin bet. This was evident once again with a Czech exchange called Bitcash.cz, which has had 4,000 customer wallets emptied by thieves. Expect this to continue, with only the strongest bitcoin companies surviving and thriving.
"The most important thing an investor can do is be selective in deciding where to put their money," says Beal, the attorney. "There are a lot of honest, reputable companies in this space who are committed to providing safe trading environments."
That's why it is always important for investors in any market perform their due diligence before making any investing decisions. Virtual currencies possess major growth potential, but also could become completely worthless due to a number of factors.
Ultimately, the bottom line is this: Don't invest any money you cannot afford to lose.
Source: http://www.coindesk.com/bitcoins-cruel-world-scams-thefts-fbis-influence/
Bitcoin will continue to rise as the dollar continue to lose value more and more people are gonna switch from the dollar to bitcoin this is why government is very afraid of bitcoin as evident to the raids of mtgox, small raids and one could easily say the real agenda in the shut down of Silk Road
Wilson Grant Fisk
Elite Member
- Nov 10, 2012
- 15,677
- 46,845
I haven't posted since back in April, during/right after the crash from $266. I know that a few of you took my advice and bought some coins, hopefully you held onto them. At the time of this post, bitcoin is sitting at $444. That's nearly a +/- 500% return in seven months. Those who were adamant that it was the end of bitcoin, I hope you invested your money in something that gave equal returns.
I think if it reaches the $500 mark then some people will start to off load a percentage of their BTC.
This might cause a dip next week.
what do people here think about the CoinValidation concept?
I think as a external party tool/plugin, it would be good. As a requirement of the core bitcoin protocol, it is a terrible idea.
Interestingly enough, if we did have this, we could all avoid buying those coins seized from SR, and they would effectively be worthless.
I think as a external party tool/plugin, it would be good. As a requirement of the core bitcoin protocol, it is a terrible idea.
Interestingly enough, if we did have this, we could all avoid buying those coins seized from SR, and they would effectively be worthless.
Patel
Senior Member
- Mar 1, 2011
- 1,154
- 1,519
There is also a US Senate hearing on digital currencies today At 3:30 eastern time
Here is the link to watch it live if anyone is interested
http://www.c-span.org/Live-Video/C-SPAN3/
Here is the link to watch it live if anyone is interested
http://www.c-span.org/Live-Video/C-SPAN3/
Wilson Grant Fisk
Elite Member
- Nov 10, 2012
- 15,677
- 46,845
Or crashing back to earth. Very Hard.
Patel
Senior Member
- Mar 1, 2011
- 1,154
- 1,519
Lol you can say it will crash all you want. Some people spent all their time criticizing different ways that Bitcoin would fail ever since it was like 300, instead of getting on the boat.
Everyone thinks its going to repeat April, but the fact is that in April we only had 1 major exchange, that went completely haywire and everyone panic sold. Now we have 7 or 8 different exchanges, and the crash is not going to be nearly as bad as April. It might crash a few hundred, but we'll still be up significantly from the start of the rally. There have been many small corrections during this rally, so they help take the load off of the big one.
Last edited: