yep, "goxxing-proof" just got me too

auroracoin happened

Bitcoin behaves like something in between a fiat currency, a stock, and a commodity. So it's clearly investible. I recommend to everyone I know to invest at least 1% of their net worth into bitcoin and other digital currencies.

However, it's super risky, and there's no way that investing your life savings into bitcoin now or at any time in the past was a wise financial decision, UNLESS, you have/had very little money to begin with.

Why is this? Well, I come from a poker background and common poker wisdom and logic suggest that a poker player with a very small bankroll SHOULD risk it all. This is because they can easily replace their bankroll and get back into the action at the same stakes. Conversely, a player with a large bankroll must be way more conservative (and apply the Kelly Criterion or other methods of managing risk), because if they lose a significant percentage of their bankroll it will take them a long time to get it back, and they'll be foregoing earning potential in the meantime.

e.g.

Investor A earns $50,000/yr and has $1,000 in savings to invest. Well, he can just throw it all into any investment he thinks is a good bet. If he loses, all he has to do is work for a week or so and recoup his lost $1,000.

Investor B has a net worth of $10,000,000 and is a professional investor who's been earning 10% on his portfolio for 10yrs. For this guy to bet it all on bitcoin would be ludicrous, because he'd be risking the chance to keep earning $1,000,000 per year, and he'd be needlessly accepting a small chance that he goes completely bust (risk of ruin).

Charles Hoskinson is no longer a part of BitShares.

Ethereum is also trustless, and there are no leprechauns, only people with the freedom to build whatever they want, and have it function however they want it it function.

Protoshares is a system for attaching assets to blockchains. Ethereum is a blockchain-based computer network and a scripting language. There are similarities, but the concepts are distinct.

No. They're considering imposing a 30k BTC CAP.
No. I think it's something like 15%, although they haven't decided, and they are openly discussing with the community what the best numbers are prior to implementing them into the protocol.
No. The market will set the price of ether.
If you were designing financial technology, wouldn't you want financial professionals on your team?
Simplicity is precisely what Ethereum aims to achieve. It's about maximizing the simplicity of a system with robust functionality. Ethereum never would've been possible to implement until Bitcoin proved the world is capable of making good use of an advanced cryptocurrency solution. Cryptocurrency 2.0 protocols are about challenging the technological limits of global society.

bump
yeah I never fixed this, I just stopped using QT.

Interesting how the first name out of the interviewers mouth when she thought of alt-coins was Peercoin.
Peercoin is such a better name than ppcoin.

It was on the Neo-Geo  -> http://www.neo-geo.com/reviews/neo-reviews/bust-a-move/bust-a-move1.html

Bust-a-Move is what it was called  You're a genius. TY.

Actually, I was thinking more along the lines of:

I spent a nice chunk of change on the original arcade vers. of this game when I was a kid The cat is from a brand new version.

I miss Bub  :

"In the U.S., Payward is registered with Fincen and can operate in South Carolina, New Mexico and Montana, the states that don't require money-transmitter licensing."
source: http://www.paymentssource.com/news/germanys-fidor-bank-to-work-with-kraken-virtual-currency-exchange-3015716-1.html

But no matter where you live you can store your cryptos there and trade them.

You found the dragon! He's the original character from the game, not the cat!

awesome

from the article (published today):
"Today an individual bitcoin is worth more than $200, and the current value of all bitcoins in circulation is more than $2.5 billion."
The editor was asleep at the wheel hahaha! Gox price is $402 CAD right now!

I used to think that too, but new data has changed my opinion.

Remember that inputs.io was anonymous, and CoinKite and others are not. Many people here probably imagine anonymity as a good thing, because it protects their money from state/banking cartel seizure. But I think from the consumer perspective, anonymity amplifies the risk of losing your cash.

I'm not sure precisely why and how individuals are using cryptobanking services, but they are. I'm sure CoinKite and others are doing a lot of research to determine the needs of the eco-system.

re: Compliance and Risk

I'm Canadian and I work in the Bitcoin space, so I have my finger on pulse of the regulators here. It's not like the United States. In general, the banks have an even more obvious cartel-like monopoly here, and they are all entirely up in each other's business. But the government is friendly towards financial technology innovation, and they are up to speed on Bitcoin. So I seriously doubt there will ever be a crackdown. There will be government acceptance and new laws, and it is the banks who will need to either adapt or lose ground. My prediction is that if cryptocurrencies get bigger (and of course they will), banks will play ball. There are already bankers from the big 5 Canadian banks showing up at Bitcoin meetups in Toronto.

Since CoinKite is crypto only. They are off the government's radar, and do not require licenses. I guess that will probably change one day in the future (when Bitcoins are worth $10,000 ). I'm curious what sort of licenses, if any, CoinKite does have?

It seems a lot of users could benefit from a legit cryptobank/online wallet service these days. The recent Inputs.io hack/scam was certainly a wake up call.

It's hard to trust anonymous people. Their services lack checks and balances, and they will rob you an alarmingly high percentage of the time. Inputs.io may or may not have been a con job, but the fact remains that people entrusted their money to an insecure anonymous service, again [insert Picard dafuq]

This community needs to stick to the services built by our community's legitimate entrepreneurs.

Anyways, very nice job on the interview. I like what you were saying about looking ahead 5+ years. Things are changing, you gotta stay nimble.

The price chart shows a parabolic rise that probably isn't sustainable.

I'm pretty sure Payward's goal is to be globally compliant, but you can't just snap your fingers and make that happen. Anyways, they must have employees and partners in zones where they are compliant.

I'm sure a lot of old school Bitcoiners imagine the best exchanges will probably have to be based in Nigeria, or Panama, or Timbuktu. But when you really think about it, isn't SF the ideal location? Think of all the tech money there. Don't we want that cash to flow into our economy? Payward's game plan should inspire your confidence imo.

I've been using Kraken a lot and I'm majorly impressed. Trade volume is still low, but it's increasing steadily.

I've withdrawn Bitcoins several times and it's been almost instant. You will see your transaction marked as "initiated" for a very short time, and then "processing" (which means the transaction has been broadcast). Kraken isn't meant to be used as a wallet, but you could probably use it that way if you want.

I recommend Kraken for a few reasons: Payward Inc. (the company that built Kraken) is a fully compliant legal entity. They take security ridiculously seriously (they've spend like $200k on secure servers). They offer fiat trading pairs with Litecoin, Ripples, and Ven (if that is useful to you).

The bottom line is that they have integrity, something that appears to be hard to come by in the Bitcoin world.

This is series A - see link from OP: https://angel.co/payward-kraken