^^There are attempts to make physical coins and Bitbills, but they're just linked to single Bitcoin wallets, and if BTC is added to or withdrawn from those wallets, the coins or bills no longer have the value they say they do; this is skeuomorphism at its worst.

Physical Bitcoins (currently on hold): https://www.casascius.com/
Bitbills (also on hold, no easy redemption mechanism): http://bitbills.com/

12/22/2013 10:35:57 PM

Quote :

"Thank goodness there's not any malware out there capturing credit card numbers and banking info as they are entered in on people's computers!"

I can have those transactions reversed, impossible to reverse with bitcoin.

12/23/2013 9:41:26 AM

Quote :

"You need a Paypal account, but you would not need a Bitpay account."

you do not need a paypal account for "pay with paypal"

12/23/2013 10:20:04 AM

Quote :

"I 100% believe that. That's something a currency system and a social network have in common, your product's value depends solely on how many people use it. Most of the people who switched from myspace to facebook switched because everyone was on facebook. They just need a way to see what their friends were doing and message them, something that could just as well be accomplished with aol instant messenger. But even with that aside, software like this has a very small lifespan, something else is going to come out that's better, it's inevitable."

Facebook was objectively better, cleaner and less buggy. This gave the initial group reason to leave MySpace. Later on, the network effects have been the attraction. The analogy I was using is that bitcoin is exactly the same as litecoin. Litecoin and the competitors aren't different enough to offer any reason to start using them.

Quote :

"I can have those transactions reversed, impossible to reverse with bitcoin."

There are already 100 ways to mitigate this: cold storage, reputable 3rd party wallets etc. The trend is for more trusted 3rd parties. It's not an insurmountable problem. Bitcoin is a platform, much like people aren't usually sending raw http messages, they likely won't be doing the bitcoin transactions themselves, or even storing them.

Quote :

"you do not need a paypal account for "pay with paypal""

My original point was that at the minimum you have to enter a billing address, shipping address, phone number, and credit card number. Bitcoin payments allow you to have a pay button with one click. They also allow payments with no bank account or credit check.

12/23/2013 2:15:19 PM

So with bitcoin you sit down at a computer and find an item you like and it magically knows who you are to purchase it?

Quote :

" It's not an insurmountable problem."

it's not insurmountable, no, but finding someone to insure it is pretty close to insurmountable

[Edited on December 23, 2013 at 2:35 PM. Reason : .]

12/23/2013 2:34:45 PM

^

You click "Buy". It generates a QR Code or address. You scan the QR Code with a wallet or send the bitcoins from your bitcoin client. The system detects the payment and completes the order. Physical goods require a shipping address of course, but some online services don't require anything.

12/23/2013 2:51:21 PM

Quote :

"the end is nigh! kiljadn knew it all along. "

The market lost 50% of its value last week, or did you not notice in your hunt for the ?

12/23/2013 6:51:20 PM

That's not really a good argument for the end. It's done that three times and it's still up six times from 2 months ago. I'll believe its near the end when I stop seeing an increase in businesses taking it.

12/23/2013 7:29:37 PM

Quote :

"AT AN UNSPECIFIED TIME IN THE FUTURE, THE VALUE WILL BE LESS THAN IT IS NOW. EVEN THOUGH THAT HAPPENS EVERY DAY. I AM NOSTRAFUCKINGDAMUS "

12/23/2013 10:46:57 PM

Merry Bitsmas

12/23/2013 10:49:18 PM

Quote :

"The market lost 50% of its value last week"

yes, and it is up 400% since you made that silly prediction.

12/24/2013 12:06:03 AM

12/24/2013 6:49:43 AM

You guys don't have a valid argument, you just hinged on the word "soon" in a statement I made.

I'm sorry that's all you guys have to cling to, since you can't manage to articulate any other valid reasons as to why bitcoin is a rousing success (it isn't).


Come at me with something real, or otherwise stfu.

12/24/2013 11:30:05 AM

Quote :

"You click "Buy". It generates a QR Code or address. You scan the QR Code with a wallet or send the bitcoins from your bitcoin client. The system detects the payment and completes the order. Physical goods require a shipping address of course, but some online services don't require anything"

I was being facetious to point out that its no less involved than other already existing options

[Edited on December 24, 2013 at 2:24 PM. Reason : .]

12/24/2013 2:24:14 PM

12/24/2013 3:15:10 PM

It's been a weird past couple of days. A fairly slow climb up from ~675 all the way up to as high as 830 on Gox. Unfortunately, I didn't ride this one all the way up. Sold some BTC at 750, then the rest of what I have in exchange at 798. Hoping for there to be a dip sometime between now and the weekend so I can buy back in.

12/26/2013 8:49:22 PM

http://cdixon.org/2013/12/31/why-im-interested-in-bitcoin/

Quote :

"Another thing that informed my view was seeing what a huge headache payments were for startups I was involved with. Let’s say you sell electronics online. Profit margins in those businesses are usually under 5%, which means the 2.5% payment fees consume half the margin. That’s money that could be reinvested in the business, passed back to consumers, or taxed by the government. Of all of those choices, handing 2.5% to banks to move bits around the Internet is the worst possible choice. The other main challenge startups have with payments is accepting international payments. If you are wondering why your favorite technology service isn’t available in your country, the answer is often payments. But the most exciting aspect of Bitcoin (and this is admittedly more speculative) are all the interesting new business and technology models that “programmable money” could enable. For example, I am very bullish on micropayments (this is a longer topic which I plan to write about separately). The world recently ran its first large-scale micropayments experiment – so called in-app payments on iOS and Android – and despite some serious design flaws (centralized control, 30% fees), it was a smashing success. I think Bitcoin could enable a micropayment system for the open web, and thereby provide a business model beyond banner ads for many important services such as journalism."

12/31/2013 1:28:16 PM

I am putting together a local Traingle area group buy for one of the second batch KNC Miner Neptune rigs (https://www.kncminer.com/products/neptune-second-batch).

Seeing if any TWW are interested in shares of the group buy.

For those of you not familiar with group buys; this group buy is intended to let locals/forum members take part in the purchase of cheap hash-rate through the 3,000 GH/s KNC Neptune (second batch) mining rig. I have structured the shares so all involved in the group buy can take advantage of the Neptune's hash rate without paying full purchase price for the rig. Each share will give you a percentage of what the Miner generates.

All utility and maintenance costs will be covered by me. I have a server room that will keep the rig at a properly cooled temperature 24/7 as well as provide battery backup.

Offering:
- There are 32 total shares at .55 Bitcoin each
- Each share is worth approximately 100 GH/s of hashing power
- Each share provides the owner with 1/32 of the BTC proceeds from the KNC Miner Neptune mining rig that will be mining 24/7 for 15 months*. Payment will be made to the Bitcoin wallet address of the shareholders weekly. (* 24/7 mining for 15 months does not account for Miner breaking down after 12 month warranty, random acts of nature; ie. server facility burning down or internet downtime)

To purchase shares, send .55 Bitcoins (per share) to the new master Group Buy Bitcoin Wallet at: 1CDeiLktqxSLq6iLgFGoWvof2PV91GMkHW

Make sure to PM me with your transaction ID and email address once shares purchased. I will use your sending wallet address for all BTC payouts for your share ownership.

There are currently 30 shares remaining for this group buy. [as of 1/3/2014 @ 11:53AM]

Feel free to PM me if you have any questions or special interests.

1/3/2014 11:54:34 AM

and the expected return is???

1/3/2014 3:53:30 PM

At the current difficulty, the Neptune rig is set to mine 2.1 BTC/day. This second batch of Neptunes ship in Q2 of 2014. The difficulty rating then could drop that to just under 2 BTC/day, however KnC is really good about upgrading their hash-rate before release. The last Jupiter rig they released went out with 30% more hash-rate than the pre order specs due to mining difficulty increases during the interim.

[Edited on January 3, 2014 at 5:28 PM. Reason : .]

1/3/2014 5:28:07 PM

Do you also have some prime Tennessee oceanfront to sell us?

1/3/2014 7:22:19 PM

Unfortunately I do not. Real estate is the way to go though, if I had the extra money I would be all about real estate investments.

1/4/2014 8:06:30 AM

Nicely handled. *facepalm*

1/4/2014 8:23:28 AM

Thank you

1/4/2014 9:38:56 AM

dude is asking for a couple hundred bucks in order to make a thousand a day. sounds legit

1/4/2014 2:03:46 PM

I clearly gave the general TWW community too much credit.

Thank you for those who have expressed interest, I am in the process of replying to all PMs.

The local community has only produced about 5 interested parties, not the 32 needed for this to make sense for all of us. I will be moving this from a local buy to one of the group buys on Bitcoin. If anyone is still interested I will be moving the group buy to https://bitcointalk.org/index.php?board=137.0

1/4/2014 5:31:35 PM

sorry you couldn't make suckers out of enough of us

1/7/2014 8:10:28 AM

I just mined 24 Dogecoins, am I a millionaire yet?

1/7/2014 5:47:17 PM

yall are some skeptical mfers

he might have been overestimating the rate of return, but group buys on mining rigs are nothing new. its not hard to do your own math and find out what 100 GH/s is capable of returning.

1/7/2014 7:24:34 PM

then why was it so hard for him to come up with actual numbers instead of horseshit?

1/7/2014 8:57:15 PM

http://www.overstock.com/bitcoin

Bitcoin live on Overstock.com.

1/9/2014 7:16:20 PM

Not sure if that news is priced in yet. That overstock.com would support Bitcoin payment was announced last month, but they made it sound like it would be months before it was actually implemented. I'm thinking we'll see a significant rally over the next week.

1/9/2014 7:51:28 PM

There was a <$100 spike the 24 hours after the announcement but it has totally leveled off after that.

I think it's all going to be lateral movement until PayPal steps up (or some similarly large news).

1/14/2014 10:09:26 AM

Right now, there's a lot of fear about what's going to come out of the situation with Chinese exchanges. BTCChina is basically dead, but Huobi filled the gap. Most people seem to think there's a possibility of a crackdown, which would obviously be bad for the price.

1/14/2014 2:55:31 PM

I've been wondering if a possible way to undermine bitcoin would be to seize a large exchange and then destroy the bitcoin they held. Once they are effectively removed from circulation, they are never replaced like other currencies can be.

If you have coordinated governments that do this enough times to enough large exchanges, could you effectively reduce the number of bitcoin available by so much that you would devalue the entire currency?

I just want to hear other's opinions on it, even if this is dumb.

1/14/2014 6:58:23 PM

Quote :

"I've been wondering if a possible way to undermine bitcoin would be to seize a large exchange and then destroy the bitcoin they held. Once they are effectively removed from circulation, they are never replaced like other currencies can be."

This has probably already happened. For example, somewhere around 140,000 bit coins (roughly 100 million bucks worth at today's rates) were confiscated in the silk road bust. The Fed's will probably try to sell those at some point, but the are nonetheless out of circulation for the time being.

Quote :

"If you have coordinated governments that do this enough times to enough large exchanges, could you effectively reduce the number of bitcoin available by so much that you would devalue the entire currency?"

Taking bitcoins out of circulation doesn't devalue the currency, it means every available bitcoin is worth more. Bitcoin is already deflationary, destroying currency would speed up that process.

1/14/2014 8:25:04 PM

LOL.

1/14/2014 10:06:23 PM

but what about the cost of electricity

1/14/2014 11:40:58 PM

Quote :

"Taking bitcoins out of circulation doesn't devalue the currency, it means every available bitcoin is worth more."

I agree to a certain point, but if you destroy enough of them, is there a tipping point where there aren't enough left to be effectively used as a wide spread currency?

1/15/2014 1:57:13 PM

Sure, yeah. If you could destroy 99% of them that would be a pretty catastrophic event. Even if there were only 10 BTC left it could still be split enough times to be useful, but the real damage comes from the loss of market confidence.

1/15/2014 2:08:27 PM

China

1/16/2014 11:34:21 PM

http://brokenlibrarian.org/bitcoin/

1/17/2014 7:37:38 AM

-

[Edited on January 17, 2014 at 11:27 AM. Reason : not worth it]

1/17/2014 11:26:44 AM

Watch out for scams: http://www.reddit.com/r/actualmoney/comments/1v9ydf/psa_actualmoney_scammers_afoot/

1/17/2014 7:01:49 PM

http://www.tigerdirect.com/bitcoin/

1/24/2014 5:17:16 PM

Surprised no one has posted about the massive news

1/27/2014 9:59:04 PM

this?

http://www.washingtonpost.com/blogs/the-switch/wp/2014/01/27/feds-charge-bitcoin-start-up-founder-with-money-laundering/

1/28/2014 8:26:30 AM

Yup that... Isn't that going to affect the price, and indeed the longevity of bitcoin?

So did the price drop when the announcement was made?

1/28/2014 9:31:22 AM

Arguably within the margin of error. It's been $950 +/- $30 for a couple of months now.

Everyone in bitcoin land keeps bringing this up:

http://boingboing.net/2014/01/27/hsbc-settlement-approved-no-c.html

Launder a few million, go jail! Launder a few billion, get a small fine!

If there was a serious crackdown it'd certainly effect the price in a negative direction. It'd be easy to use the crackdown to give existing payment vendors an opportunity to "help" with the regulation. I think we are still a ways away from that.

1/28/2014 12:05:16 PM

MtGox, Silk Road 2, BTC-e


Ahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha


There's a good quote for you dumb motherfuckers. Etch that shit in stone for posterity.

2/13/2014 4:44:39 PM