Official CryptoCurrency Thread (Bitcoin, Litecoin, Ethereum & More)

[MewTwo]

http://en.wikipedia.org/wiki/Snow_Crash



http://en.wikipedia.org/wiki/Cryptonomicon

The first group is World War II-era Alliedcodebreakersand tactical-deception operatives affiliated with the Government Code and Cypher School at Bletchley Park and disillusioned Axis military and intelligence figures whom they encounter. The second narrative is set in the late 1990s with descendants of the first narrative's characters employing cryptologic, telecom and computer technology to build an underground data haven in the fictional Sultanate of Kinakuta. Their goal is to facilitate anonymous Internet banking using electronic money and (later) digital gold currency, with a longer range objective to distribute Holocaust Education and Avoidance Pod (HEAP) media for instructing genocide-target populations on defensive warfare.

Neal Stephenson predicted all of this.

 

[5010]

Mt. Gox rejected my app 3 weeks ago over some dumb shyt....

 

[Kritic]

and all that would do is slow it down.

there is a lot of corporate money invested in bitcoin whether you believe it or not and these guys are lawyered up to the teeth. if the federal government bans Bitcoin, they will sue, and win. Because nothing in Bitcoin is constitutionally illegal

if Bitcoin is banned in the US, it will grow somewhere else, and money will be made somewhere else, until the US realise what they're missing out on and try to catch up.

all this talk of the US banning bitcoin is BS anyway, they are actively trying to find out how to regulate it and financial regulators have said they want the US to be at the forefront of Bitcoin development in terms of legal infrastructure.

- 'Give me control of a nation's money and I care not who makes the laws.' - Mayer Amschel Rothschild

the rothschild who control the us federal reserve in proxy using jp morgan/chase give 2 fuqs about the law. the federal reserve is unchecked by the laws of the united states. they print money and do whatever they want. once a few ppl get killed no one will push the case in court.

ron paul and them can't even get the federal reserve to be audited. they get trolled to oblivion.

they will crash the world economy before they lose in court.

it's actually interesting to see how this all pans out with the federal reserve vs crypto currency.


gangstas dont run the world. banksters do.

@LeyeT @Ill

 

[heisenburrr]

- 'Give me control of a nation's money and I care not who makes the laws.' - Mayer Amschel Rothschild

the rothschild who control the us federal reserve in proxy using jp morgan/chase give 2 fuqs about the law. the federal reserve is unchecked by the laws of the united states. they print money and do whatever they want. once a few ppl get killed no one will push the case in court.

ron paul and them can't even get the federal reserve to be audited. they get trolled to oblivion.

they will crash the world economy before they lose in court.

it's actually interesting to see how this all pans out with the federal reserve vs crypto currency.


gangstas dont run the world. banksters do.

@LeyeT @Ill

Well these old banksters better get with the program or they in for a rude awakening

 

[heisenburrr]

Anyway this is from Goldman Sachs latest assesment of Bitcoin:

Opportunity: We are currently in the first innings of a shift to natively digital transactions

— Bitcoin may emerge as the reigning standard, or others may compete for the crown

Looks like they know what they're dealing with

 

[Kritic]

Well these old banksters better get with the program or they in for a rude awakening

well... for real change niccas better expect to die. so do you want to die or live?
they can crash the world economy anytime they're exposed. they are the real secret society but not so secret.
this bitcoin sh1t totally fuqqed their ponzi scheme. and all the federal reserves of all countries are in on it too.


not sure how they'll accept crypto currency. everyone has a stake in the lie.

 

[无名的]

and all that would do is slow it down.

there is a lot of corporate money invested in bitcoin whether you believe it or not and these guys are lawyered up to the teeth. if the federal government bans Bitcoin, they will sue, and win. Because nothing in Bitcoin is constitutionally illegal

if Bitcoin is banned in the US, it will grow somewhere else, and money will be made somewhere else, until the US realise what they're missing out on and try to catch up.

all this talk of the US banning bitcoin is BS anyway, they are actively trying to find out how to regulate it and financial regulators have said they want the US to be at the forefront of Bitcoin development in terms of legal infrastructure.

Just curious. . . what proof do you have that there is a lot of corporate money in Bitcoin? And do you consider that a good thing? Because I sure don't.

I really don't think there's a lot of corporate money into it right now. It seems like the wealth is concentrated among early adopters, which doesn't seem to be a very good thing for Bitcoin. When one person can really move the market, that's bad.

http://www.businessinsider.com/bitcoin-inequality-2014-1

An article from January stated the Bitcoin Investment Trust increased holdings from 18,000 to 70,000, but that puts ownership at less than 1% of all Bitcoins. Other than that, I'm not sure what sort of corporate money is into Bitcoin.

It states the trust was able to increase holdings without moving the market, so perhaps this isn't an issue, but what do you think happens to the price of Bitcoin when the FBI dumps a huge stash onto the market? You'd hope and think the FBI is smart enough to do so in a controlled way, so as not to destroy the value of the asset they're trying to liquidate for the benefit of the government, but you'd be surprised. Trust me.

 

[无名的]

Anyway this is from Goldman Sachs latest assesment of Bitcoin:



Looks like they know what they're dealing with

To the contrary, I have a friend at Morgan Stanley that looked at me with the



When I told him about investing in Bitcoin. I gathered that was a common opinion at Morgan Stanley.

 

[heisenburrr]

Just curious. . . what proof do you have that there is a lot of corporate money in Bitcoin? And do you consider that a good thing? Because I sure don't.

I really don't think there's a lot of corporate money into it right now. It seems like the wealth is concentrated among early adopters, which doesn't seem to be a very good thing for Bitcoin. When one person can really move the market, that's bad.

http://www.businessinsider.com/bitcoin-inequality-2014-1

An article from January stated the Bitcoin Investment Trust increased holdings from 18,000 to 70,000, but that puts ownership at less than 1% of all Bitcoins. Other than that, I'm not sure what sort of corporate money is into Bitcoin.

It states the trust was able to increase holdings without moving the market, so perhaps this isn't an issue, but what do you think happens to the price of Bitcoin when the FBI dumps a huge stash onto the market? You'd hope and think the FBI is smart enough to do so in a controlled way, so as not to destroy the value of the asset they're trying to liquidate for the benefit of the government, but you'd be surprised. Trust me.

I'd say there is around 100 millions in VC money invested in Bitcoin related companies right now. This is the corporate money I am speaking of.

I have no doubt the FBI is going to do everything they can to liquidate their bitcoin stash so as to get the best value for it, and this will not be by dumping it onto the market.

 

[heisenburrr]

To the contrary, I have a friend at Morgan Stanley that looked at me with the



When I told him about investing in Bitcoin. I gathered that was a common opinion at Morgan Stanley.

surely your friend is well educated in the current banking system. but there's no particular reason why you, I or anyone should value his opinion of Bitcoin.

Bitcoin is not something economic entities can "rate" in a conventional way. It is so much more than an investment vehicle and someone who does not grasp the whole scope of it often brings little value to a bitcoin discussion

 

[heisenburrr]

I really don't think there's a lot of corporate money into it right now. It seems like the wealth is concentrated among early adopters, which doesn't seem to be a very good thing for Bitcoin. When one person can really move the market, that's bad.

this is only a temporary problem that will slowly be made irrelevant by wider adoption

 

[无名的]

surely your friend is well educated in the current banking system. but there's no particular reason why you, I or anyone should value his opinion of Bitcoin.

Bitcoin is not something economic entities can "rate" in a conventional way. It is so much more than an investment vehicle and someone who does not grasp the whole scope of it often brings little value to a bitcoin discussion

So you quote an analyst at Goldman to add to this discussion, but no reason to value the negative opinion held by many at Morgan Stanley?

Breh... I'm with you. I love the idea of Bitcoin as a secure way of cheap peer-to-peer transactions and I hope when the bubble completely bursts on this, something will rise from the ashes that is that much better, but I think you're being a little too optimistic right now.

Just two weeks ago there was an arbitrage opportunity by buying on another exchange and selling on the biggest Bitcoin exchange, the standard, go-to exchange. Now Gox has basically crumbled and dropped from $900 some per coin to nearly under $100 in two weeks. You keep talking increased adoption of Bitcoin, but you're not going to get the average person, who barely understands Bitcoin, to engage in using it when there are these types of issues.

It's nothing more than a speculative investment with ridiculous volatility concentrated in the hands of a few.

I hope it turns into something more, but

 

[The_King_of_Everything]

One world currency/govt coming soon brehs

 

[Liquid]

One world currency/govt coming soon brehs

One world currency will never happen with all the competition out there.

Bitcoin is the most popular crypto right now, but there are about 300 competitors out there. A legit second place WILL rise...it's not a matter of if but when

 

[heisenburrr]

So you quote an analyst at Goldman to add to this discussion, but no reason to value the negative opinion held by many at Morgan Stanley?

Breh... I'm with you. I love the idea of Bitcoin as a secure way of cheap peer-to-peer transactions and I hope when the bubble completely bursts on this, something will rise from the ashes that is that much better, but I think you're being a little too optimistic right now.

Just two weeks ago there was an arbitrage opportunity by buying on another exchange and selling on the biggest Bitcoin exchange, the standard, go-to exchange. Now Gox has basically crumbled and dropped from $900 some per coin to nearly under $100 in two weeks. You keep talking increased adoption of Bitcoin, but you're not going to get the average person, who barely understands Bitcoin, to engage in using it when there are these types of issues.

It's nothing more than a speculative investment with ridiculous volatility concentrated in the hands of a few.

I hope it turns into something more, but

Morgan Stanley employs 60,000 people all over the world. I don't expect every banker to understand Bitcoin. Especially when most look at it from the high horse of financial education as "nothing more than a speculative investment with ridiculous volatility".

The quote I referred to came from this article http://techcrunch.com/2014/02/21/goldman-bitcoin/?utm_campaign=fb&ncid=fb I have no problem acknowledging the opinion of someone who has obviously done their homeworks and educated themselves on the whole scope of cryptocurrencies. I'd be surprised if that was the case for your banker friend.

A lot of your comments got me wondering as well if you truly are well informed about the issues surrounding Bitcoin. Care to explain your bubble comment? Something will rise from the ashes? Why do you expect Bitcoin to go down in flames ?

The issues you are referring to are infrastructure problems. Fundamentally there is nothing wrong with Bitcoin. The protocol works. You're right, I'm not expecting the average Joe to engage in Bitcoin use right now. The average Joe wasn't using the internet in 1995 for the same reasons you are referring to : ease of access, security concerns.

This is why millions in venture capitalist money are currently working toward building this safe, trustable and easy to use infrastructure. The Winklevoss ETF trust is another huge step for mainstream use of Bitcoin.

The future of Bitcoin the exchange traded currency is uncertain and will have growing pains. The Bitcoin foundation protocol's future is written in stone imo.