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I'm interested to know just how much people are relying on Bitcoin, and what's a better way to find out than to ask the forum community exactly how much they have?
Also, any success stories out there? Or any suggestions for making money?
Also, any success stories out there? Or any suggestions for making money?
Wow, that's a large investment.
I didn't say how much is in each wallet. But see the discussion How many bitcoins is "enough"?
Well if it's for stuff like retirement it should be a decent amount at least, shouldn't it?
While I do not know the context of that discussion, how is he asking for it? How many people do you know that own a smartphone? Compare that to how many you know that frequently use a desktop. More and more people are using smartphones for the basic web functions that nullify the use of a clunky, space wasting desktop. The justification of having a desktop these days is mostly for gaming or higher performance computing. You can have word processing, email, most of the functions that typical business minded people use, all online with google docs, gmail, etc. just for an example.
Desktops are:
* Cheaper
* Longer lasting
* Outdated about 10x slower
* Don't require a contract
* Faster
* More flexible
* More upgradable
* Able to run good games
To name a few.
To be fair, smartphones are:
* Portable and convenient
* Flashy
* Easier to communicate with
* Able to do most web-based activities anywhere
* More flexible with payments
But it doesn't justify it for me.
Re: Steam Account 70 games worth $1455.31 USD for sale (NOW ON BIDDINGPOND)
Nobody is going to spend $500 at once on software.
Why are you such a debby downer? How do you know what people want? The point is you don't. You can only speculate. This is not a speculative discussion.
Alright, calm down!
.... 
I perfectly understand where you're coming from, but that last line answers the question of my reaction.
Re: Bounty for Bitcoin Animated Movie [13622.05 BTC ($2520) and growing]
Steve goes into great detail on how Bitcoin operates. It is lacking visual aids.
http://twit.tv/sn287
http://twit.tv/sn287
He has a habit of turning what could be said in a sentence into a 15 minute explanation. But then again, who doesn't on podcasts?
I know this topic's dead but I wanted to be with the cool kids:
My internet name is Veltas Vandegere, I've used it for about 4 years now. The first occurrence of the name is for my Guild Wars character but I liked it and now use it for everything. My real name is Chris (Christopher), and Veltas isn't for anonymity reasons, I just like having an internet name.
My internet name is Veltas Vandegere, I've used it for about 4 years now. The first occurrence of the name is for my Guild Wars character but I liked it and now use it for everything. My real name is Chris (Christopher), and Veltas isn't for anonymity reasons, I just like having an internet name.
I am putting all my eggs in that basket.
Don't do it!
I have three Bitcoin wallets, of approximately equal size.
One wallet will sit untouched until I retire in a few years, then I'll sell the coins over time to provide some retirement income. Obviously I'm hoping that the value of this wallet will grow considerably.
Another wallet is for members of my family. I will give it to them when Bitcoin is easy enough (and safe enough) for non-technical people to use.
The third wallet is for day-to-day spending. I'm quite free-and-easy with this one. Sometimes I send funds to a new Bitcoin business because I want to encourage Bitcoin entrepreneurship, even if I don't really need what they are offering.
I give 10% of any blocks that I generate to organizations whose goals are consistent with Bitcoin, e.g. EFF and TorServers.
One wallet will sit untouched until I retire in a few years, then I'll sell the coins over time to provide some retirement income. Obviously I'm hoping that the value of this wallet will grow considerably.
Another wallet is for members of my family. I will give it to them when Bitcoin is easy enough (and safe enough) for non-technical people to use.
The third wallet is for day-to-day spending. I'm quite free-and-easy with this one. Sometimes I send funds to a new Bitcoin business because I want to encourage Bitcoin entrepreneurship, even if I don't really need what they are offering.
I give 10% of any blocks that I generate to organizations whose goals are consistent with Bitcoin, e.g. EFF and TorServers.
Wow, that's a large investment. I hope it works out well for you.
I'm no economist but I feel that this is due to BTC being in high demand and low supply. Simple as can be.
I think a real problem is that it will be a long time before it levels out, and then it should follow the world's average inflation, but that's too simple a model.
We're going to overshoot parity by quite a bit if you ask me...
I think a real problem is that it will be a long time before it levels out, and then it should follow the world's average inflation, but that's too simple a model.
We're going to overshoot parity by quite a bit if you ask me...
No the world is actually deflating, the only reason we get deflation in fiat currencies is because they print money faster than deflation. Eventually bitcoin will probably have very predictable deflation (because economic progress means stuff gets cheaper).
I thought it was deinflating.
Re: Steam Account 70 games worth $1455.31 USD for sale (NOW ON BIDDINGPOND)
Nobody is going to spend $500 at once on software.
Why are you such a debby downer? How do you know what people want? The point is you don't. You can only speculate. This is not a speculative discussion.
Alright, calm down!
I'm not being very helpful, I called Erik an idiot and made him stall for about 10 seconds while he tried to take control of himself.
He said that smartphones were going to destroy desktop PCs, he asked for it...
He said that smartphones were going to destroy desktop PCs, he asked for it...
I don't personally care about anonymity and Bitcoin is still an effective means of exchange for me. Bitcoin has many advantages over traditional currencies/commodities. Depending on individual preferences, it will be effective for many people for different reasons. This broad appeal probably influences Bitcoin's long-term value.
Even so, the point remains that it is an effective way of making payments.
Then you're wasting your time... Bitcoin is only effective for people who want anonymous and free transfer of money. If you're out to gain wealth for the sake of it... so be it. If you're out to make some money off of the rising price of the Bitcoin, then you're a pox on this economy.
That make no sense. I just look for work to do. What does that have anything to do with anonymous and free transfer of money? It's not like I am gaining at the expense of my employers.
I am more concerned about establishing a viable economy than I am worried about making money at the moment.
Maybe I misunderstood what you meant, sorry.
Quote
These are all meaningless (especially USD parity).
These milestones are meaningful from a psychological point of view, and by extention, from a PR point of view.
There are also meaningful for this forum. For several months there has been talk and anticipation about when parity would be reached. Now we can go back and see who made the best predictions. (It turns out that S3052 was spot on)
Sorry, what I mean is that this isn't a turning point for the currency, just something nice for us.
I know, I know most people get this but sometimes people start thinking that it has a monetary significance other than the parity itself, which it really doesn't.
The approach of a lot of people here is "FUUUUUUUUUUUUUUU, GOOO DIEEE GOVERNMENT MOTHAFUCKAS, BGING IT ON BITCHEZ - WE'RE GONNA KICK YOUR DAMN ASS WITH BITCOIN !!!!!!1111oneone".
Quite true...
If you want to defeat government, you have to be cautious, careful, patient. Work slow, don't attract too much attention, popularize bitcoin among traders & exchangers, and then, before government(s) realizes, there will be no turning back from Bitcoin becoming a world currency.
Sounds wise to me.
I'm interested to know whether or not people are trying to make some money out of the rising price of Bitcoin. It sounds like an easy enough idea; buy some BTC, wait a bit, check to see the price has gone up and then sell it when it looks like it's reached the turning point in value.
So how many of you are planning to make a bit of money out of this? Or are you interested in just investing money in Bitcoin for its advantages like P2P payments with no governing bodies?
Please tell me what, and if possible; why.
If you're an other I'd also love to hear exactly what Bitcoin is as an investment to you, or not.
So how many of you are planning to make a bit of money out of this? Or are you interested in just investing money in Bitcoin for its advantages like P2P payments with no governing bodies?
Please tell me what, and if possible; why.
If you're an other I'd also love to hear exactly what Bitcoin is as an investment to you, or not.
I guessed before July (BECAUSE I CAN).
This parity thing is getting a little weird though, people are quite obsessive about some numbers which are ultimately meaningless in relation to Bitcoin's true value.
Although, maybe we should raise the stakes, anyone prepaired to start betting over this?
This parity thing is getting a little weird though, people are quite obsessive about some numbers which are ultimately meaningless in relation to Bitcoin's true value.
Although, maybe we should raise the stakes, anyone prepaired to start betting over this?
Also, I am a freelancer. Been busy looking for work in this small economy.
Then you're wasting your time... Bitcoin is only effective for people who want anonymous and free transfer of money. If you're out to gain wealth for the sake of it... so be it. If you're out to make some money off of the rising price of the Bitcoin, then you're a pox on this economy.
IMO one way to get a handle on a reasonable value for 1 bitcoin is via this formula:
probability Bitcoin ultimately succeeds * value of 1 bitcoin if it succeeds
probability Bitcoin ultimately succeeds * value of 1 bitcoin if it succeeds
This is dependant on a macro nature of the economy, which is impossible since it is only one economy you're looking at. Unless you're investing in millions of these economies (of which there are not that many) then it's highly improbable to pay off, although your estimates are completely off; I'd say that the chance of the bitcoin catching on is very high, just how much will it catch on? That's the real question.
Bitcoin has the potential to become the dominant currency for large-scale electronic transactions worldwide. If this happens, bitcoins could be worth millions of dollars each.
Perhaps, although the value of the Bitcoin means absolutely nothing; it's the stability and overall rate of increase of value that makes the difference.
I see the recent increase in value as a rise in the consensus probability that Bitcoin will succeed.
I don't, I see it as the result of an increasing population of Bitcoin users, increasing demand for buying Bitcoins and the nature of the supply of Bitcoin relative to this. However, I see the increasing population of Bitcoin and its support to be directly related to popular belief that it will work among its users.
I hope not, but I'm more sceptical. I feel that we will lose value dramatically if we have too many people investing because of the value and strength of bitcoin.
The investment could be followed by new business entries, or not.
Not sure I understand what you're getting at here. Are you saying that more business relying on Bitcoin would counter the effect that many long-term investors selling their Bitcoin would have to the Bitcoin's value.
I'd use Linux if I could, but my games are unreliable enough already and WINE has problems of its own. So right now I've only got it on dual-boot.
Linux is (in my opinion) practical for absolutely everything other than games. You can play games on it, but I can't.
Linux is (in my opinion) practical for absolutely everything other than games. You can play games on it, but I can't.