Online Cash Bitcoin Could Challenge Governments, Banks

Bitcoin Falls 20% on PBOC Rumors, Chinese Exchanges Reinstate Fees.

-- Tom

 

Well, it's coming back down. Is that better?

It's far too soon to talk about Bitcoin price stability. The total market value is tiny relative to even minor fiat currencies. And far too much of that is controlled by speculators.

The China bubble is deflating, for obvious reasons. But that's good long term, because Chinese owners were mostly speculating.

I'll be happy if the price stabilizes at 800 USD or so, or even 500 USD. As long as I'm not speculating, what's most important is stability.

 

Crazy currency: The more I report on Bitcoin, the weirder it gets.

-- Tom

 

Top India Bitcoin Operator Halts Trading After Bank Warning.

Related: First time in the country, ED raids a Bitcoin seller in Ahmedabad.

-- Tom

 

Bitcoin Needs Women.

-- Tom

 

Bitcoin Is Evil. by Nobel Economist Paul Krugman

-- Tom

 

Well, that about sums it up for me

Edit: Also, I belatedly notice, it fits perfectly with the thread title

Edit2: I have one quibble, upon reflection. Corporations and the wealthy have always been able to obscure finances and reduce tax liability. Bitcoin merely provides a level playing field.

 

Bitcoin will soon help you set up a charity, release Kickstarter funds and trace payments.

-- Tom

 

Bitcoin Is Good.

-- Tom

 

Bitcoin Becomes a Real Job and Wall Street Is Hiring.

-- Tom

 

US $ Crypto Currency by Federal Reserve.

-- Tom

 

Bitcoin Has Climbed Back To $1,000.

-- Tom

 

Aren't we getting close to the end of BitCoin "production" now?

 

Hi Dave0291,

Not even close per Wikipedia webpage on Bitcoin per:

-- Tom

 

I'm a bit confused, Tom. The source the Wiki draws from is http://blockchain.info/charts/total-bitcoins. It shows just a little over 12 million in circulation right now, with miners chugging away every single day. It only took from Feb 2013 to this month to produce 2 million according to that chart, which of course I may be reading quite wrong. In 2017, by the time they halve it to 12.5 per mine we'll already be at 18 million. That's relatively close. And that's just going by the processing power available right this moment. What will happen when the only money to be made off of it is in transaction fees? What will happen if Bitcoin stops being a game for rich hobbyists and the population decides to jump in..with only 21 million coins to use? Currently coins are being kept rather than spent, with a whole ton of them being in the hands of the FBI after the Silk Road blowup. All of those concerns aren't even considering the ongoing roller coaster that is Bitcoin pricing. Now it's at a grand, by this time tomorrow it might be 500.

 

Hi Dave0291,

I suppose we will just have to wait and see how it all plays out over time.

BTW, your link crashed my Firefox 24.0 web browser 3 times before I could accurately report it in the Firefox Crash Reporter, and the Restart Firefox button did not work and I had to start Firefox manually after the crashes.

-- Tom

 

Bitcoin startups pan for gold in cryptocurrency economy.

-- Tom

 

The Bitcoin-Mining Arms Race Heats Up.

-- Tom

 

Ghash.io-miningpool users are asked to leave the pool as it's gaining the dangerous 51% mining size with the possible effect of a hard fork of the block chain.
As written by Satoshi, anyone controlling 51% can wreak havoc, link

Anxiety heightened when a Ghash.io member tried to spend bitcoins double on gambling site Bitcoin Dice.
CEX.IO official statement link;

More on the 51% attack, suffered by Feathercoin earlier link

 

Bitcoin vault offering insurance is 'world's first'.

Related: Backed by Lloyd’s of London, new UK startup offers insured Bitcoin vault.

-- Tom

 

Dogecoin Accounts For More Cryptocurrency Trading Than Bitcoin, Litecoin, And All Others Combined.

-- Tom

 

Bitcoin Mint Reopens After Nastygram From Feds.

-- Tom