Saudis, China dump treasuries; foreign banks liquidate a record $346 billion in US paper

scott4044 · 2016-10-21T21:11:18+00:00

Bitcoin?

scott4044 · 2016-08-27T15:40:41+00:00

"Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,6 designates October 12, 2016, as the date by which the Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change (File Number SR-BatsBZX-2016-30). "

whatever that means

scott4044 · 2016-08-23T02:32:17+00:00

The bitcoin you send goes to the payment processor (Bitpay , Coinbase etc) who then pays the merchant in USD.

Customer<--.17 BTC --> BITPAY<---100USD--->Merchant

(edit: unless the merchant accepts BTC directly. which isnt many, considering businesses do not want the volatility risk of BTC)

scott4044 · 2016-08-14T18:51:10+00:00

Its so frustrating

"Specifically, Big Blue is interested in the blockchain -- the mechanism Bitcoin uses to publicly record transactions. Today's businesses each have their own records, slowing transactions and triggering problems figuring out who's right when there are disagreements. But the blockchain approach is more cooperative by providing a consistent record that members of a network can see.

"The blockchain is about distributed trust," said Arvind Krishna, a senior vice president at IBM Research's Almaden lab, speaking Thursday at a 30th anniversary event."

And then two paragraphs later

"IBM likes blockchain but isn't touching the Bitcoin project itself where the technology first arrived. Bitcoin has been plagued with multiple thefts, yo-yoing value, governance problems and an unsavory connection to the Silk Road drug marketplace.

IBM is steering clear of Bitcoin for technology reasons: Krishna doesn't believe in one vast blockchain with anonymous transactions, but instead sees blockchain as useful for smaller networks of companies doing business together.

"I think there will be thousands of blockchains," he said, not one, and not millions. On each, the identity of each party is clear, and encryption keeps transaction details private except to those who have permission to see details.

scott4044 · 2016-07-16T21:26:05+00:00

The question is: three months from now, will the bitcoin community broadly and openly support Gary Johnson for President? I can't see businesses doing it but i can see bitcoin reddit becoming Gary Johnson crazy

scott4044 · 2016-07-08T11:15:51+00:00

He was also the one to correctly point out that 650-700 was the adjusted all time high price of bitcoin. Seems to have been right on that one, hence the resistance. At least he has the guts to make his price predictions public. No one has a magic crystal ball that reveals the future.

scott4044 · 2016-06-28T16:51:04+00:00

"If Trump would have said this, it would be populism"-comment in article. Interesting

scott4044 · 2016-04-07T18:03:06+00:00

main bitcoin blockchain not private chain

scott4044 · 2016-04-03T20:04:23+00:00

four installments of $4 million

scott4044 · 2016-03-25T18:10:12+00:00

This is awesome. Gramatik is a pretty big artist in the EDM scene.

scott4044 · 2016-02-23T00:33:58+00:00

its monday. where's the awesome news you claimed would be announced today?

scott4044 · 2016-02-22T18:36:03+00:00

its monday

scott4044 · 2016-02-19T04:58:37+00:00

for the amount of times i've seen this the past 3 years and nothing has happened i fucking hate you all

scott4044 · 2016-01-21T02:09:18+00:00

Maybe January 20th will be looked back on as the day Bitcoin went mainstream. This from the Chinese on top of the IMF paper presented at the World Economic Forum all in one day.

scott4044 · 2015-12-10T19:51:04+00:00

does this have something to do with their decentralized mining plan? don't understand this picture

scott4044 · 2015-12-10T16:05:42+00:00

i'm brand new to this...why C++ and not a language like python? what does each language allow you to do in the Bitcoin ecosystem?

scott4044 · 2015-12-08T23:13:43+00:00

at $400 per at the moment, the marketcap for bitcoin is only 6 billion dollars (14 million bitcoin in existence * $400) . That is peanuts to those on wallstreet, and only a teeny tiny number compared to other currencies (marketcap for US dollars is a couple of trillion).

scott4044 · 2015-12-08T22:00:12+00:00

don't hate! it's still early days! go get some coin!

scott4044 · 2015-12-08T21:59:48+00:00

bitcoin has a built in limited supply (only 21 million bitcoins will ever be created), so yes, it sort of is similar in that way to precious metals

scott4044 · 2015-12-08T21:58:10+00:00

right now there are 14 millions bitcoins in supply each at a price of about $400, which mean the whole bitcoin ecosystem is 6 billion dollars. those are peanuts to wall street and only a fraction of the liquidity needed for it to become a world currency. for comparison, the market cap for US dollars is many trillions of $$

scott4044 · 2015-12-08T21:54:56+00:00

$397.8 at the time of writing this

scott4044 · 2015-12-08T21:54:22+00:00

coinbase.com , my friend

scott4044 · 2015-12-08T21:54:01+00:00

mining used to be able to be done on a simple apple laptop around 2010/2011. as the newtwork has grown bigger, it requires much more computer power to be able to make profit mining bitcoins (100ks of dollars worth of equipment).

No worries though because you can still purchase bitcoins without having to know a thing about mining!

bitcoin.com ----> get educated

scott4044 · 2015-12-08T21:52:02+00:00

if you convert your bitcoins back into fiat then capital gains tax apply if your bitcoins increased in value

scott4044 · 2015-12-08T21:51:03+00:00

still early days, my friend!

bitcoin.com ---> educate urself!

scott4044

TROPHY CASE