Not regulated in any way, and not subject to self-regulation either (as with physical assets).
Is there truly any way to know that bitcoin won't be hacked or has been already?
There's a new data point to consider (from ZeroHedge, link below) that the 100 largest bitcoin holders own about 20% of the available stock. Too much concentrated power for me. Who's to say that any given government can't simply go ahead and issue more fiat, and then jump into bitcoin enough to be able to completely manipulate it (think virtual ETF)?
Much harder to manipulate real assets without being found out.
Bit coins are a method to store value electronically using encrypted key... the beauty is that it allows person to person payments with no transaction costs. Think of disintermediating Western Union or Paypal.
This article is old and obviously it's conclusion is premature since MTGox is thriving and Bitcoin has taken off since the article came to print
Thank you gdavis. So when the price fluctuates is that the value of say a share of equity in the operation or the value of one bitcoin?
The price fluctuating is the price of a bitcoin... there are no shares. Bitcoins are finite....now there are about 15 million but there can only ever be 21 million. We will reach 21 million bitcoins in the year 2140.
<< <i>Thank you gdavis. So when the price fluctuates is that the value of say a share of equity in the operation or the value of one bitcoin?
The price fluctuating is the price of a bitcoin... there are no shares. Bitcoins are finite....now there are about 15 million but there can only ever be 21 million. We will reach 21 million bitcoins in the year 2140.
<< Reports indicate majority of bitcoins being purchased from China. Maybe they are counterfeiting them. >>
Technically impossible...
I think there are two reasons the Chinese are allover this.
1) There are probably a million rich Chinese people that would like to get some of that money out of the country anonymously. 2) The Chinese government is encouraging bitcoin because it sees that a strong bitcoin would weaken the dollars dominance.
This link has been shown here before but watch currency stream from China...
The rise of bitcoins is a perfect example of how the value of money is changed by the demand for that money. This is why world reserve currency status is so important to the dollar.
Kip
Posts: 852
Comments
<< <i>Hmmm, I get a "page not found" when trying that link. >>
Need to remove the "[ L=null ]" part at the end of the link.
Fixed link
I knew it would happen.
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Give Me Liberty or Give Me Debt
Is there truly any way to know that bitcoin won't be hacked or has been already?
There's a new data point to consider (from ZeroHedge, link below) that the 100 largest bitcoin holders own about 20% of the available stock. Too much concentrated power for me. Who's to say that any given government can't simply go ahead and issue more fiat, and then jump into bitcoin enough to be able to completely manipulate it (think virtual ETF)?
Much harder to manipulate real assets without being found out.
100 largest bitcoin holders
I knew it would happen.
1 oz. gold = $1248.
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Give Me Liberty or Give Me Debt
<< <i>Kinda reminds me of on-line poker. How do you know you the website master is not sitting at your table looking at all of the hands? >>
Agreed.
Plus, I am curious where Holly Crap got all her money.
It's all about what the people want...
Somehow the cynic in me sees Bernie Madoff, meets Bebe Rebozo.
Bit coins are a method to store value electronically using encrypted key... the beauty is that it allows person to person payments with no transaction costs. Think of disintermediating Western Union or Paypal.
This article is old and obviously it's conclusion is premature since MTGox is thriving and Bitcoin has taken off since the article came to print
Rise and Fall of Bitcoin
Thank you gdavis. So when the price fluctuates is that the value of say a share of equity in the operation or the value of one bitcoin?
The price fluctuating is the price of a bitcoin... there are no shares. Bitcoins are finite....now there are about 15 million but there can only ever be 21 million. We will reach 21 million bitcoins in the year 2140.
Once that happens the supply is fixed...
<< <i>Thank you gdavis. So when the price fluctuates is that the value of say a share of equity in the operation or the value of one bitcoin?
The price fluctuating is the price of a bitcoin... there are no shares. Bitcoins are finite....now there are about 15 million but there can only ever be 21 million. We will reach 21 million bitcoins in the year 2140.
Once that happens the supply is fixed... >>
until the FED takes over.
Give Me Liberty or Give Me Debt
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<< <i>Reports indicate majority of bitcoins being purchased from China. Maybe they are counterfeiting them. >>
:
rofl; What if that was true .......
<< Reports indicate majority of bitcoins being purchased from China. Maybe they are counterfeiting them. >>
Technically impossible...
I think there are two reasons the Chinese are allover this.
1) There are probably a million rich Chinese people that would like to get some of that money out of the country anonymously.
2) The Chinese government is encouraging bitcoin because it sees that a strong bitcoin would weaken the dollars dominance.
This link has been shown here before but watch currency stream from China...
Fiatleak.com
Knowledge is the enemy of fear
Bitcoin Thefts Surge, DDoS Hackers Take Millions
<< <i>One problem I see with Bitcoin is.................what happens if you pay for something and it doesn't get delivered? >>
SOL, spending bitcoins is the same as spending cash. Once it leaves your digital wallet it is in someone else's.
<< <i>The US dollar has absolutely nothing to fear from bitcoin. >>
least of it's worries. More pressing concerns at the moment.
Give Me Liberty or Give Me Debt
If so, will they be slabworthy?
My Adolph A. Weinman signature
Give Me Liberty or Give Me Debt
Still waiting for that money to hit my bank. If it ever will.