Bit coin and their grubby little hands

From: Billy 
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http://techcrunch.com/2014/06/13/boom-goes-the-bitcoin/

--b



=============================================================== From: Mike Harrison ------------------------------------------------------ Investing in ANY currency is risky. Currency is a way to transport = wealth/value and a way to keep score (accounting). As it has little or = no intrinsic value it will be volatile. That the government is treating it as an asset in this sale, and selling = it, says a lot. They recognize that in the current market it has = perceived value, and they are willing to accept USD for BTC.=20 It may be a temporary hit to BTC, but it also, in a very strange way, = legitimizes it and sets interesting precedent. The US Government = formally recognizes BTC as having value.=20 Things I wish I had (short term) invested it: Freon 12 (I had a friend = that did, made a fortune), Ammunition.. . Companies I wish I had invested in (bought early and cheap): Apple, = Google..=20 Things I have invested in: Real estate, small companies I have been a = art of, myself..=20 Something I wish we could invest in, but support it in other ways: = Linux and FOSS/Society/Internet=20 The payoff has been incredible to society, yet few recognize it unless = they were truly involved in the technical world back in the dark ages. = Pre and early 1990=92s. =20

=============================================================== From: William Roush ------------------------------------------------------ Surely this is good for BitCoin. William Roush william.roush@roushtech.net 423-463-0592 http://www.roushtech.net/blog/

=============================================================== From: Rod-Lists ------------------------------------------------------ Disagree. Selling something doesn't imply faith in it. Especially if you didn't buy it. Buying it does. Now if I can pay my taxes in bitcoin then it is legit. Example I inherited some property near a canal in Florida. Short term thats ok. But given sea rise predictions by 2050 or 2060 my brother and I (or our heirs) may want sell by then. ----- Mike Harrison wrote:

=============================================================== From: William Roush ------------------------------------------------------ Didn't they already recognize it when they said they'd tax you for it as an asset? William Roush william.roush@roushtech.net 423-463-0592 http://www.roushtech.net/blog/

=============================================================== From: Dan Lyke ------------------------------------------------------ On Sat, 14 Jun 2014 09:34:38 -0400 Billy wrote: As interesting, CEX.io and the GHash mining pool have just passed 50% of the total networking mining power, which means that Bitcoin is no longer decentralized. Hmmm.... Also, I had no idea that Bitcoin transactions were taking about 10 minutes to clear. That makes Bitcoin a hell of a lot less useful than credit cards or cash for person-to-person transactions, unless you involve a third party, at which point you're back to may as well be using credit cards. Dan

=============================================================== From: Dan Lyke ------------------------------------------------------ On Sat, 14 Jun 2014 11:27:45 -0700 Dan Lyke wrote: http://hackingdistributed.com/2014/06/13/time-for-a-hard-bitcoin-fork/

=============================================================== From: Stephen Kraus ------------------------------------------------------ Fork Bitcoin, AKA, "Let's make a pseudo-currency out of our pseudo-currency, this will show companies how stable and reliable our digital currency can be,"

=============================================================== From: Lynn Dixon ------------------------------------------------------ Ghash is a mining pool. It is not one single entity controlling the entire mining power. If the miners are afraid on the pool getting out of control, it's incredibly simple to switch to another pool. Cex only makes up a small portion of Ghashs power. I remember this same fear several years ago when deepbit controlled a very large portion of the network. The sky is not falling. The economics of it will cause new entrants to enter the market and create new pools. He'll Randy and I ran a mining pool during the deepbit debacle for a while. It is truly decentralized and the power of the network is in the hands of the miners and there are shit tons of us.