lol

The comments at the bottom of this article are hilarious.

I hope this doesn't funnel 95% of the bestowed BTC out of their budding economy before it even gets rolling.

College has to be where Bitcoin really starts to take off.

My guess is that we have an S-shaped growth with an overshoot for hash rate. Miners will leave as we reach the peak of the overshoot, but at some point it will still be profitable to mine due to fees.

Check out cryptocards.co

Guys that 1200 price was a bubble dont you get it.. media hype + mt gox + silk road shutdown + senate anouncment .BITCOIN itself is NOT a bubble ..but and here is a BIG BUT thats not to say there will not be any price bubbles. And i am afraid that last November was one.. but at each bubble we get a hole new wave of adoption so we may have a another bubble 1600 which settles at a new low of 800 then again and again.. or we may from now on get a agonisingly slow price rise. Who knows.. but its not bad news trust me. FOR some reason people think from 1200 we should just keep rising no wayyyy we need much more adoption and with all these peice of shit altcoins camoflouging the real deal makes it even slower for adoption.

this is pseudo-economics!

That's one of my problems with Mike, its like the guy has no idea how his glib little statements impact the larger ecosystem he's working on.
Not quite BP "We're Sorry" kind of gaffe, but certainly up there considering how much effort and money has been invested in the Bitcoin sphere.

Acceptance/adoption is not driven by price, it's the other way around.

That's some bullshit, he didn't do anything wrong.

Not necessarily. Bitcoin could simply be a tool of the banks and large institutions, and it would still be massively valuable and successful.

What's the difference between a smartphone today and 4 years ago?

While I agree that a bitcoin central bank is completely against what bitcoin stands for, I think the idea of being able to opt for a full reserve or fractional reserve account at a bitcoin exchange is pretty good. Users could choose to put their coins to work and get some interest in return or just keep them in storage without interest. It could possibly help bitcoins liquidity problem too. This might be irrelevant though if places like btcjam and other ways to loan money become more prevalent.

Ever since October 2013, when the FBI took down the online black market and drug bazaar known as the Silk Road, privacy activists and security experts have traded conspiracy theories about how the U.S. government managed to discover the geographic location of the Silk Road Web servers. Those systems were supposed to be obscured behind the anonymity service Tor, but as court documents released Friday explain, that wasn’t entirely true: Turns out, the login page for the Silk Road employed an anti-abuse CAPTCHA service that pulled content from the open Internet, thus leaking the site’s true location.

http://krebsonsecurity.com/2014/09/dread-pirate-sunk-by-leaky-captcha/

Shem wasn't a banker or any other kind of criminal. They just want their pound of flesh.

Think of it is a service to you. They are making your coins more valuable.

There is no possibility of bitcoin totally replacing all fiat currency. We must keep in mind that there is limit on maximum number of bitcoin that can exist. Most part of product vendors and services providers may shift to bitcoin as it will save them lot of transaction fee.

I think the idea is that the hot wallets are the ones that are most at risk. By insuring them, you decrease the risk of a financial loss if something happened to them.
Of course, there's always a risk that the insurer will be insolvent when it comes time to pay the claim. You can attempt to re-insure your way out of that, but at the end of the day, there will always be some risk.

The beauty about Bitcoin is that people could choose something retarded like this, but they don't have to.