Bitcoin Discussion Thread

[Zenith]

This thread for discussions on the new digital currency. What will the future hold? Let's hear the opinions.

 

[Azuremen]

It isn't new at all though, having been around for around 4 years. There are also dozens of other Cryptocurrencies in play now, such as Litecoin and Dogecoin.

Ultimately, the future depends in part on how countries try to control these digital currencies. I know Europe and Asia haven't been too thrilled on the matter, with the US holding the more positive view from what I've seen. But currently, they aren't really stable enough to be reliable, with most of the coins being held my speculators and such as investments.

 

[Grayfox]

They are like shares but, not like real shares.

When the price dropped, they issued a statement saying do not commit suicide due to this.

 

[Azuremen]

They are like shares but, not like real shares.

What?

When the price dropped, they issued a statement saying do not commit suicide due to this.

Dang.

 

[Tesla]

They are like shares but, not like real shares.

When the price dropped, they issued a statement saying do not commit suicide due to this.

Who's they?

 

[Grayfox]

What?


Dang.

Who's they?

http://news.ninemsn.com.au/technology/2013/12/19/09/41/bitcoin-suicide-warning-issued-on-reddit

People where buying them and selling them like shares.
And like in the past during market crashes, they were thinking or committed suicide since they invested so much into it.

 

[Azuremen]

http://news.ninemsn.com.au/technology/2013/12/19/09/41/bitcoin-suicide-warning-issued-on-reddit

People where buying them and selling them like shares.
And like in the past during market crashes, they were thinking or committed suicide since they invested so much into it.

So, basically, what I had said when I mentioned investors and speculation, with some typical new article working the sensationalist angle.

Typical.

 

[reymarkperry]

I personally believe that Bitcoin has a very promising future. Despite many speculations and controversies, it is still in circulation, and skyrocketing.

 

[Grayfox]

So, basically, what I had said when I mentioned investors and speculation, with some typical new article working the sensationalist angle.

Typical.

It is not that far off from the stock market crashes that made people jump off buildings during the 50's and 60's

 

[BobK]

It is not that far off from the stock market crashes that made people jump off buildings during the 50's and 60's

Say what?

 

[Grayfox]

Or was it 70's

Tried to remember from history class.

 

[The Bman]

Or was it 70's

Tried to remember from history class.

The stock market crashed in 1929, leading to the Great Depression throughout the 1930's.

 

[Zenith]

Or was it 70's

Tried to remember from history class.

The point Azuremen was making is that discussing how stupid people did stupid stuff with only tangential relation to the topic is sensationalist and distracts from the discussion.

People commit suicide over losing money. Next.

 

[Omnis]

I'm not sure Bitcoin discussion is really going to work here. Maybe only two or three people "get it" when it comes to cryptocurrency.

Anyway, states aren't going to be able to handle coexistence with distributed networks and currencies like these. They'll do what they can to kill off any kind of competition. Right now it's in the name of money laundering. But cryptocurrency's real value is not just as money but as tools for arbitration. Ironically, Dogecoin has double the users and transactions as bitcoin, and could prove to be the most significant of them all in that respect.

Here's a neat article: http://bitcoinmagazine.com/10055/cr...d-autonomous-organizations-huge-leap-forward/

DAOs have the potential to be huge and revolutionary.

 

[Omnis]

 

[DK]

Mike Hearn has walked out on the Bitcoin project. To the uninitiated (like myself ~6 hours ago) he was part of the team that maintained the software upon which Bitcoin and its network is based. In this blog post (which found its way onto my Twitter feed, which is how I found out about Hearn's departure) he details why he's lost hope in it. I've got an exam tomorrow to study for, I'll check back in this thread tomorrow.