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Thread: What's Not Being Said About Bitcoin

  1. #1

    What's Not Being Said About Bitcoin

    By Brian Armstrong, co-founder and CEO of Coinbase.
    Mt.Gox is gone. The one-time biggest Bitcoin exchange closed its doors this week and filed for bankruptcy this morning. Questions about the future of Bitcoin have once again been up-leveled to the headlines of nearly every major media outlet.

    Over the past few weeks, we’ve seen a string of issues in the Bitcoin space, from the transaction malleability bug that ultimately closed Mt.Gox’s doors to a corresponding distributed denial of service (DDoS) attack that delayed transfers on multiple exchanges and services. These attacks, along with recent phishing scams and money-laundering arrests, have cast doubt on the Bitcoin space and caused consumer panic — which is fair.

    But what hasn’t been communicated well is how those who are truly invested in the future of Bitcoin remain totally confident, because with every attack, breach, and arrest, Bitcoin is getting stronger and proving to consumers and businesses it is not going away.

    Here is what is not being said about Bitcoin that should be.
    ..
    Meat and Potatoes @ http://techcrunch.com/2014/02/28/wha...about-bitcoin/



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  3. #2
    Bitcoin is going down. Stick with the metals. There's 100 other crypto currencies that are 100x less in price. What's the difference other than bitcoin was first? Bitcoins are being hacked and lost too frequently now. It's a great idea but version 1 is just that...
    It's just an opinion... man...

  4. #3
    Quote Originally Posted by NoOneButPaul View Post
    Bitcoin is going down. Stick with the metals. There's 100 other crypto currencies that are 100x less in price. What's the difference other than bitcoin was first? Bitcoins are being hacked and lost too frequently now. It's a great idea but version 1 is just that...
    Did you even read the article?

    I've been testing alts over the past month or so and trust me, they suck. I keep losing...lol Bitcoin is the only one you can count on and that still seems to be the case. Being well above $500 even after all the FUD shows BTC's strength.

  5. #4
    Quote Originally Posted by NoOneButPaul View Post
    Bitcoin is going down. Stick with the metals. There's 100 other crypto currencies that are 100x less in price. What's the difference other than bitcoin was first? Bitcoins are being hacked and lost too frequently now. It's a great idea but version 1 is just that...
    The difference is the usability. You can buy nearly anything with bitcoin very easily. I can't buy my groceries yet with bitcoin directly, I'd have to convert to a gift card.. but you can't buy groceries with metals and get spot pricing either. Other cryptos have no real world functionality. A few have various things you can purchase the rest are no more than a hope that something happens with the community. It's more than finding one overstock to accept another crypto coin it's the thousands of places that bitcoin is accepted with no other coin even starting to gain in that level of support.

    As to hacked, I don't see companies stop accepting credit cards after Target getting hacked and paying millions in stolen credit cards. That's what happened with Gox - one bad exchange had someone steal assets from it. Sadly lots of users got damaged. I know I lost 0.00006 bitcoins myself - all that was left under the withdraw min.
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  6. #5
    Quote Originally Posted by Paladin69 View Post
    Did you even read the article?

    I've been testing alts over the past month or so and trust me, they suck. I keep losing...lol Bitcoin is the only one you can count on and that still seems to be the case. Being well above $500 even after all the FUD shows BTC's strength.
    How are you losing on Alts?
    rewritten history with armies of their crooks - invented memories, did burn all the books... Mark Knopfler

  7. #6
    Check out the thousands of places you can use Dogecoins directly:

    (by directory)
    http://dogedir.com/

    and

    http://dogebiz.net/
    rewritten history with armies of their crooks - invented memories, did burn all the books... Mark Knopfler

  8. #7
    Quote Originally Posted by torchbearer View Post
    How are you losing on Alts?
    Because their prices keep going down. Not selling. Just wish I didn't buy so much initially. it is my own fault. Dollar cost averaging is about all I can do now.
    Last edited by muh_roads; 03-02-2014 at 02:10 PM.



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