Question, Does 'Bitcoin' have what the Company Accountant would call a "Net Tangible Asset Backing"? ....or is it like a US Dollar note? OC
Does that have anything to do with the Bitcoins seized when Silk Road was closed down by the US government?
You need to do some more reading. Bitcoin does not require backing, like gold does not require backing. In addition, physical backing for a digital unit of currency is a counter party risk, a centralised potential point of failure.
I reakon you probably already know the answer to that. In reality who cares? it's giving us a chance to profit outside of banking constraints Sure it's traded like a commodity and is highly volatile. But anyone can give it a go for little investment. the neigh sayers on here will always have a hoot about it and fair enough it's not as safe as a PM But today I made over $950 (40 odd Oz) very real dollars on a coin based on a dog meme.. I know Right? so if this is how silly money has become, thats fine with me I'm on for the ride too. Only have to check net a few times a day and buy and sell accordingly. OC if you set up a Crypsty account I will transfer you 5k doges to get started.. Always going to be BTC dump end of January, still China thing lurking, doesn't really bother me. Sell high Buy Low!
Can someone explain how mtgox price is always $100 higher than every other exchange ? Doesn't make any sense Surely there would be enough arbitrage going on to bring them in line with each other
Mt.Gox is notoriously slow to process withdrawals - it's an example of an inflated monetary supply. People keep depositing new funds faster than the exchange will withdraw them. Nothing else to do with the dollars except buy bitcoin, so the price is locally inflated on that market.
A few quotes from Andreas Antonopoulos. "When the regulators come to regulate Bitcoin for your own good, your reply should be 'Fuck Off!'" "The Internet of Money, bitcoin, is releasing 50 yrs. of pent up innovation in finance, because it offers innovation without permission." "Bitcoin's distributed asset ledger is the most important Computer Science invention of the century." "If you want to read something intelligent about bitcoin, read the source code." "Most people are yet to understand how disruptive the Bitcoin technology really is." "The last consumer focused innovation in financial services was credit cards, in the 1950s. There is no industry more ripe for disruption." "The first years on the Internet, we got access DESPITE telecom companies, not through them. Now, bitcoin works despite banks, not with them" "Bitcoin's success is owed to creativity and innovation. It has nothing to do with the government's endorsement" "Bitcoin is way to geeky to ever work for mainstream use. Just like the Internet was in 1991. Oh, wait." "I can spend hours trying to explain Skype to someone, or they can video their mom and see her smile. Don't try to learn bitcoin, USE it." "Credit cards are a "pull" model: You surrender the keys to your money, and they pull money from you. Bitcoin is a push model; more secure." Source: http://www.igotbitcoin.com/66-bitcoin-quotes-140-characters-less/#axzz2qq484WxA
This take two on Bitcoin and the interview section with Reggie Middleton is worth watching what he has to say. Hopefully, it hasn't already been posted here. Max Keiser and Stacy Herbert discuss Bitcoin 2.0. The currency application of Bitcoin was version 1.0, now there are dozens of new and innovative ideas riding the blockchain and, in the process, creating Capitalism 2.0. In the second half, Max interviews Reggie Middleton of BoomBustBlog.com about his own Bitcoin 2.0 application for hedging. Reggie says that if Bitcoin were a car, it would be one which also comes with its own road and which can go faster than any other car on the road and pay no tolls - it is an intelligent currency, unlike dumb fiat. [youtube]http://www.youtube.com/watch?v=lzTkKzVEnpk[/youtube]
Just curious to know if there is any reason behind that or is it just a gut feeling? i'm just starting to research and get into this crypto game.
I'm guessing it was the beautiful descending triangle setup, accompanied by nice falling volume, bearish MACD, and an MA crossover? But it looks like it may not happen. Time will tell.
Hmm agreed wrcmad, totally agree and definitely understood exactly what you said. (insert sarcasm smiley)
