License to print money... BitCoin?

December 30th, 2014 at 12:09:56 AM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 110
Posts: 11603
Kinda sad for all those online casinos that
take American bitcoin players.

http://www.entrepreneur.com/article/241306
If you take a risk, you may lose. If you never take a risk, you will always lose.
December 30th, 2014 at 1:04:39 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 50
Posts: 4810
So what is wrong with having the worst performing currency in the world if it is free???
December 30th, 2014 at 2:27:29 AM permalink
odiousgambit
Member since: Oct 28, 2012
Threads: 73
Posts: 1571
Quote: Fleastiff
So what is wrong with having the worst performing currency in the world if it is free???


nothing, as long as you or I owned none, which I hope is the case
The light at the end of the tunnel is often a freight train coming the other way! per Fleastiff
January 18th, 2015 at 2:41:28 AM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 735
Posts: 8571


We are a long way down from December 2013 highs of $1200 as BTC are now trading for about $210.

What will the next few weeks bring us? Will the SNB shore up Swiss Franc at parity, or will the markets go nuts? Will BTC make a resurgance?
January 18th, 2015 at 4:37:13 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 50
Posts: 4810
A good deal of the loss of value could be attributed to government seizures of bit coin and to the massive fraud at one trading and storage site. This would have been a temporary psychological setback.


FINNISH courts have ruled that bit coin is not a currency but a lawful digital commodity that can be freely created and traded.
Finnish cryptocurrency is distributed to any citizen who requests it and is distributed digitally via computers and commercial radio frequencies.
January 18th, 2015 at 5:11:14 AM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 103
Posts: 6772
Quote: Pacomartin


We are a long way down from December 2013 highs of $1200 as BTC are now trading for about $210.

What will the next few weeks bring us? Will the SNB shore up Swiss Franc at parity, or will the markets go nuts? Will BTC make a resurgance?


Looks like it is in a textook 5th stage Elliot Wave but down! Will be fun to see what happens next.
The man who damns money has obtained it dishonorably; the man who respects it has earned it
January 25th, 2015 at 8:31:34 PM permalink
Ayecarumba
Member since: Oct 24, 2012
Threads: 85
Posts: 1410
According to the banner hanging outside their entrance, Las Vegas Casino, "The D" is accepting bitcoin.
January 26th, 2015 at 2:38:27 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 50
Posts: 4810
Quote: Ayecarumba
According to the banner hanging outside their entrance, Las Vegas Casino, "The D" is accepting bitcoin.
At its hotel Front Desk, various bars, restaurants and gift shops.

Omitted from the list, and not by over sight, is the Casino's Cashier Window. Now whether the Front Desk will accept Bit Coin in a large amount and transfer it to the Cashier's Cage or not, I don't know.

So maybe it is more "advertising" that "we are hep cats, all up on the latest trendy stuff" but won't go overboard on it.

I'm not sure. I imagine most people seeing that banner will think "Oh, cool! My kinda place", but they don't have any Bitcoins, they just think that Bitcoins, whatever they are exactly are really cool. Sort of like the latest trendy phone or fashion accessory. Cool stuff.
March 12th, 2015 at 12:20:13 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 50
Posts: 4810
California: Register bit coin related businesses or be illegal.


"...from the a-mess-in-the-making dept: ...

California, the state that prides itself as the birthplace of modern technology and whose policies such as the unenforceability of non-competes contributed substantially to the innovation ecosystem, recently proposed a law that requires innovators to get permission from the state, or be banned. ...."
March 12th, 2015 at 4:47:14 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 735
Posts: 8571
Quote: Fleastiff
California, the state that prides itself as the birthplace of modern technology


I still think that bitcoin has separate components that are attractive

(1) The ability to create money from nothing just like a state
(2) The ability to protect from counterfeiting by the use of an algorithm
(3) The variability and the promise of making a large fortune quickly
(4) The fascination for legal or illegal purposes with buying and selling anonymously with the ease of credit card transactions

It's this fourth component (divorced from the other three) that may be satisifed by the digital currency that is developing in Ecuador.While the primary beneficiaries will be everyday people free of the problems of making change, and storing and protecting cash, there may be some interests outside of Ecuador that can exploit the nature of digital currency.