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goafrit
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Re: Bitcoin popularity
goafrit   3/12/2014 4:58:03 PM
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I think they are for real. Even Wikipedia wants to get donations via Bitcoin. I am having a changed mind that no one can stop the movement.

rich.pell
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Re: Bitcoin popularity
rich.pell   3/3/2014 10:09:26 PM
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goafrit
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Re: Bitcoin popularity
goafrit   3/3/2014 7:24:35 PM
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>>  For those who were speculating on the market value of bitcoins, those proved to be good buying opportunities.

Provided you did not buy from Mt.Gox which just filed bankruptcy after losing millions of dollars. 

krisi
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Re: ASIC solutions
krisi   2/19/2014 3:52:58 PM
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I think problems in Greece have very little with EURO but that is another discussion...

goafrit
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Re: ASIC solutions
goafrit   2/19/2014 3:40:20 PM
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>> EU united their currency from several individual ones and they are doing great...more countries are thinking about adopting Euro which rivals US dollars now

I am not sure EU is doing great when Switzerland has voted to limit freedom of movement of other EU nations into the country. There are few that will think EU is doing fine at this point based on the currency unification. Without EURO, Greece would have avoided its problems. They will simply devalue their currency. But with none, no instrument to play.

goafrit
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Re: ASIC solutions
goafrit   2/19/2014 3:29:10 PM
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>> .what if the whole world adopts BitCoin?

A really good question. It means that those we think are "not smart" now will rule the next phase of our global system. It is a possibility but extremely risky to bet on it.

krisi
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Re: Bitcoin popularity
krisi   2/14/2014 3:33:32 PM
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Very true Rich...one should had bouth some bitcoins few years back...there was an episode on "Good Wife" which scared me of doing just that ;-)

krisi
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Re: ASIC solutions
krisi   2/14/2014 3:31:06 PM
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Not sure I buy this argument @goafrit..EU united their currency from several individual ones and they are doing great...more countries are thinking about adopting Euro which rivals US dollars now

rich.pell
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Re: Bitcoin popularity
rich.pell   2/14/2014 11:22:40 AM
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"Bitcoin is like the housing market before the bubble. It is irrational exuberance at the best"

Indeed, the recent peak in the market value of bitcoins and subsequent "crash" is typical of such a boom/bust cycle.  Keep in mind that this has happened at least twice before (in mid 2011 and again early last year), both times starting from much lower levels.  For those who were speculating on the market value of bitcoins, those proved to be good buying opportunities.

goafrit
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Re: ASIC solutions
goafrit   2/14/2014 10:30:28 AM
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>>I guess in this case risk is high...but payoff is huge...what if the whole world adopts BitCoin?

That will not happen because the most effective tool for any economic strategy is the monetrary policy. That is one reason why currency union suffers. If you owe $30b to companies in your local currency, you have the power as government to devaalue your currency to get more money in the central bank to pay that off. When you lose that power, you are in trouble. I do not see why government will lose that tool to Bitcoin which they cannot manipulate.

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