BITCON... WHY its totally FLAWED

whinfell said:
Dynoman said:
Are we seeing an unpassable parity wall for Bitcoin & Litecoin, the value of Gold & Silver? Or will they surpass & continue upward?
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Given that LTC hit a high of US$43 today (on BTC-e), I think that answers the question for LTC ;)
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Or LTC got sucked into the BTC vortex. It will be very interesting to see how BTC goes up against Gold in the next few days.
 
There is a distinct schism amongst crypto followers - most involved are in it to speculate and exchange for fiat when the price inflates, which I might add is completely normal. The qualities that crypto currencies bring to the market are now irrelevant, the arguments used by crypto fanatics to justify their position and to highlight the irrelevance of gold and silver are now meaningless.

This thread is testimony to that http://forums.silverstackers.com/topic-48184-best-alt-cryptos.html
 
To Leap Year Coins :) ------> tulip e coins ---> most of the years are non- leap year :lol: ---> common coins
 
mmm....shiney! said:
There is a distinct schism amongst crypto followers - most involved are in it to speculate and exchange for fiat when the price inflates, which I might add is completely normal. The qualities that crypto currencies bring to the market are now irrelevant, the arguments used by crypto fanatics to justify their position and to highlight the irrelevance of gold and silver are now meaningless.

This thread is testimony to that http://forums.silverstackers.com/topic-48184-best-alt-cryptos.html
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Ahh shiney is back :) ..I purchased a new phone with BTC and silver bullion bars with good old Fed fiat last week . The BTC performed it's function nicely, whilst the silver will serve me for another function altogether.
 
Load of Bullion said:
Ahh shiney is back :) ..I purchased a new phone with BTC and silver bullion bars with good old Fed fiat last week . The BTC performed it's function nicely, whilst the silver will serve me for another function altogether.
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:)
 
I am sure plenty would be more than glad to swap their BTC for other assets - PM are a class, but think about being able to purchase cars or even real estate (I think I have read this is already possible in the US), I am pretty sure many people would be happy with these options!
 
http://mashable.com/2013/12/09/tesla-bitcoin/

There aren't many details available about the purchase, but the dealership's marketing director, Cedric Davy, told CNN that a man from Florida bought the car for 91.4 bitcoins, which at the time were equivalent to $103,000. Though the price of the notoriously volatile currency dropped shortly after the sale, CNN reports that payment processor BitPay locked in Tuesday's Bitcoin price for both buyer and seller.

While the dealership didn't previously accept Bitcoin, when the man called asking if he could pay with it, they researched the electronic currency and worked with BitPay to make the sale happen.

"All these people have bitcoins," Davy told CNN. "I think some people are trying to spend it."
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I'm surprised Mark Karpeles has not jumped on this thread yet to explain why Bitcoin is totally flawed

:)
 
Try typing "btc-e.com" or "cryptsy.com" in the browser address bar, that usually fixes that error up
 
1for1 said:
REASON ITS FLAWED...

just another flawed system designed to benefit the creator
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Not sure whether I should call it "flawed", but I said the same thing about the fact that it benefits the creator.

It's a business. You invent a coin, launch it and make sure you are the first to accumulate/mine/buy a lot of it at the very beginning. Then you create a "mass hysteria" and people will buy in. As the media pick up the idea, the price rises even more. Sky high.

Then the you (the creator) sell your coins. You get rich.

The market crashes as a result of the sell-off and everyone else is scratching their head "hey, what happened"? :P The small investors and everyone else who came in late blame everything from manipulation to technical issues...

But it's a business, essentially...
 
Sorry noob question. How can bitcoin price vary significantly between different exchanges? At this moment, wouldn't you buy from mtgox and sell at btce?
 
Lunarowl said:
Sorry noob question. How can bitcoin price vary significantly between different exchanges? At this moment, wouldn't you buy from mtgox and sell at btce?
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As it currently stands, BTC withdraws from MtGox are frozen.

Means no real arbitrage trading
 
I'm trying to set my wallet up.

Is there a website where you can get a free .000000001 of a bitcoin sent out to check if you've set your wallet up right?
 
Unfortunately; free bitcoin faucets don't pay anywhere near enough for the time spent on them, so linking those for wallet testing is rather redundant nowadays :(
 
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