The 2010s In Bitcoin: The Year 2011 - forbes.com

Default English word list

Alright so, I took the default database from there https://skribbliohints.github.io/ and with the help of html, I extracted the words to a list separated by commas. It's useful when you want to translate those words into your native language.
Word of advice, when using google translate, do not put all words at once there, it can rapidly worsen the translation.
(And there is a last thing. Their algorithm of picking only custom words is not working really good, at least for me. Meaning that I often get duplicates, despite having a list this big and without duplicates. I'm still trying to find some solution to this, so if somebody is experiencing this as well, share the knowledge please, I will do the same.)
SOLUTION: Thanks for the reply from PepegaWR who identified the cause. I also tested it and there seems to be a custom words limit of 5000 characters. The easiest way in my opinion is to shuffle the words before each session to minimize the impact. Also thanks to the flynger who had the same idea before me :)
Finally, here it is, enjoy the scribbling ^^ :

ABBA, AC/DC, Abraham Lincoln, Adidas, Africa, Aladdin, America, Amsterdam, Android, Angelina Jolie, Angry Birds, Antarctica, Anubis, Apple, Argentina, Asia, Asterix, Atlantis, Audi, Australia, BMW, BMX, Bambi, Band-Aid, Barack Obama, Bart Simpson, Batman, Beethoven, Bible, Big Ben, Bill Gates, Bitcoin, Black Friday, Bomberman, Brazil, Bruce Lee, Bugs Bunny, Canada, Capricorn, Captain America, Cat Woman, Cerberus, Charlie Chaplin, Chewbacca, China, Chinatown, Christmas, Chrome, Chuck Norris, Colosseum, Cookie Monster, Crash Bandicoot, Creeper, Croatia, Cuba, Cupid, DNA, Daffy Duck, Darwin, Darwin Watterson, Deadpool, Dexter, Discord, Donald Duck, Donald Trump, Dora, Doritos, Dracula, Dumbo, Earth, Easter, Easter Bunny, Egypt, Eiffel tower, Einstein, Elmo, Elon Musk, Elsa, Eminem, England, Europe, Excalibur, Facebook, Family Guy, Fanta, Ferrari, Finn, Finn and Jake, Flash, Florida, France, Frankenstein, Fred Flintstone, Gandalf, Gandhi, Garfield, Germany, God, Goofy, Google, Great Wall, Greece, Green Lantern, Grinch, Gru, Gumball, Happy Meal, Harry Potter, Hawaii, Hello Kitty, Hercules, Hollywood, Home Alone, Homer Simpson, Hula Hoop, Hulk, Ikea, India, Intel, Ireland, Iron Giant, Iron Man, Israel, Italy, Jack-o-lantern, Jackie Chan, James Bond, Japan, JayZ, Jenga, Jesus Christ, Jimmy Neutron, John Cena, Johnny Bravo, KFC, Katy Perry, Kermit, Kim Jong-un, King Kong, Kirby, Kung Fu, Lady Gaga, Las Vegas, Lasagna, Lego, Leonardo DiCaprio, Leonardo da Vinci, Lion King, London, London Eye, Luigi, MTV, Madagascar, Mario, Mark Zuckerberg, Mars, McDonalds, Medusa, Mercedes, Mercury, Mexico, Michael Jackson, Mickey Mouse, Microsoft, Milky Way, Minecraft, Miniclip, Minion, Minotaur, Mona Lisa, Monday, Monster, Mont Blanc, Morgan Freeman, Morse code, Morty, Mount Everest, Mount Rushmore, Mozart, Mr. Bean, Mr. Meeseeks, Mr Bean, Mr Meeseeks, Mummy, NASCAR, Nasa, Nemo, Neptune, Netherlands, New Zealand, Nike, Nintendo Switch, North Korea, Northern Lights, Norway, Notch, Nutella, Obelix, Olaf, Oreo, Pac-Man, Paris, Patrick, Paypal, Peppa Pig, Pepsi, Phineas and Ferb, Photoshop, Picasso, Pikachu, Pink Panther, Pinocchio, Playstation, Pluto, Pokemon, Popeye, Popsicle, Porky Pig, Portugal, Poseidon, Pringles, Pumba, Reddit, Rick, Robbie Rotten, Robin Hood, Romania, Rome, Russia, Samsung, Santa, Saturn, Scooby Doo, Scotland, Segway, Sherlock Holmes, Shrek, Singapore, Skittles, Skrillex, Skype, Slinky, Solar System, Sonic, Spain, Spartacus, Spiderman, SpongeBob, Squidward, Star Wars, Statue of Liberty, Steam, Stegosaurus, Steve Jobs, Stone Age, Sudoku, Suez Canal, Superman, Susan Wojcicki, Sydney Opera House, T-rex, Tails, Tarzan, Teletubby, Terminator, Tetris, The Beatles, Thor, Titanic, Tooth Fairy, Tower Bridge, Tower of Pisa, Tweety, Twitter, UFO, USB, Uranus, Usain Bolt, Vatican, Vault boy, Velociraptor, Venus, Vin Diesel, W-LAN, Wall-e, WhatsApp, William Shakespeare, William Wallace, Winnie the Pooh, Wolverine, Wonder Woman, Xbox, Xerox, Yin and Yang, Yoda, Yoshi, Youtube, Zelda, Zeus, Zorro, Zuma, abstract, abyss, accident, accordion, ace, acid, acne, acorn, action, actor, addiction, addition, adorable, adult, advertisement, afro, afterlife, air conditioner, airbag, aircraft, airplane, airport, alarm, albatross, alcohol, alien, allergy, alley, alligator, almond, alpaca, ambulance, anaconda, anchor, angel, anglerfish, angry, animation, anime, ant, anteater, antelope, antenna, anthill, antivirus, anvil, apartment, apocalypse, applause, apple, apple pie, apple seed, apricot, aquarium, arch, archaeologist, archer, architect, aristocrat, arm, armadillo, armor, armpit, arrow, ash, assassin, assault, asteroid, astronaut, asymmetry, athlete, atom, attic, audience, autograph, avocado, axe, baboon, baby, back pain, backbone, backflip, backpack, bacon, bad, badger, bag, bagel, bagpipes, baguette, bait, bakery, baklava, balance, balcony, bald, ball, ballerina, ballet, balloon, bamboo, banana, bandage, bandana, banjo, bank, banker, bar, barbarian, barbecue, barbed wire, barber, barcode, bark, barn, barrel, bartender, base, basement, basket, basketball, bat, bathroom, bathtub, battery, battle, battleship, bayonet, bazooka, beach, beak, bean, bean bag, beanie, beanstalk, bear, bear trap, beatbox, beaver, bed, bed bug, bed sheet, bedtime, bee, beef, beer, beet, beetle, bell, bell pepper, bellow, belly, belly button, below, belt, bench, betray, bicycle, bill, billiards, bingo, binoculars, biology, birch, bird, bird bath, birthday, biscuit, bite, black, black hole, blackberry, blacksmith, blanket, bleach, blender, blimp, blind, blindfold, blizzard, blood, blowfish, blue, blueberry, blush, boar, board, boat, bobsled, bodyguard, boil, bomb, booger, book, bookmark, bookshelf, boomerang, boots, border, bottle, bottle flip, bounce, bouncer, bow, bowl, bowling, box, boy, bracelet, braces, brain, brainwash, branch, brand, bread, breakfast, breath, brick, bricklayer, bride, bridge, broadcast, broccoli, broken heart, bronze, broom, broomstick, brownie, bruise, brunette, brush, bubble, bubble gum, bucket, building, bulge, bull, bulldozer, bullet, bumper, bungee jumping, bunk bed, bunny, burglar, burp, burrito, bus, bus driver, bus stop, butcher, butler, butt cheeks, butter, butterfly, button, cab driver, cabin, cabinet, cactus, cage, cake, calendar, camel, camera, campfire, camping, can, can opener, canary, candle, canister, cannon, canyon, cap, cape, cappuccino, captain, car wash, cardboard, carnival, carnivore, carpenter, carpet, carrot, cartoon, cash, casino, cast, cat, catalog, catapult, caterpillar, catfish, cathedral, cauldron, cauliflower, cave, caveman, caviar, ceiling, ceiling fan, celebrate, celebrity, cell, cell phone, cello, cement, centaur, centipede, chain, chainsaw, chair, chalk, chameleon, champagne, champion, chandelier, charger, cheek, cheeks, cheerleader, cheese, cheeseburger, cheesecake, cheetah, chef, chemical, cherry, cherry blossom, chess, chest, chest hair, chestnut, chestplate, chew, chicken, chihuahua, child, chime, chimney, chimpanzee, chin, chinchilla, chocolate, chopsticks, church, cicada cigarette, cinema, circle, circus, clap, clarinet, classroom, claw, clay, clean, clickbait, cliff, climb, cloak, clock, cloth, clothes hanger, cloud, clover, clown, clownfish, coach, coal, coast, coast guard, coaster, coat, cobra, cockroach, cocktail, coconut, cocoon, coffee, coffee shop, coffin, coin, cola, cold, collapse, collar, color-blind, comb, comedian, comedy, comet, comfortable, comic book, commander, commercial, communism, community, compass, complete, computer, concert, condiment, cone, confused, console, continent, controller, conversation, cookie, cookie jar, copper, copy, coral, coral reef, cord, cork, corkscrew, corn, corn dog, corner, cornfield, corpse, cotton, cotton candy, country, cousin, cow, cowbell, cowboy, coyote, crab, crack, crate, crawl space, crayon, cream, credit, credit card, cricket, cringe, crocodile, croissant, crossbow, crow, crowbar, crucible, cruise, crust, crystal, cube, cuckoo, cucumber, cup, cupboard, cupcake, curry, curtain, cushion, customer, cut, cute, cyborg, cylinder, cymbal, dagger, daisy, dalmatian, dance, dandelion, dandruff, darts, dashboard, daughter, day, dead, deaf, deep, deer, defense, delivery, demon, demonstration, dent, dentist, deodorant, depressed, derp, desert, desk, desperate, dessert, detective, detonate, dew, diagonal, diagram, diamond, diaper, dice, dictionary, die, diet, dig, dinner, dinosaur, diploma, dirty, disaster, disease, dishrag, dispenser, display, diss track, distance, diva, divorce, dizzy, dock, doctor, dog, doghouse, doll, dollar, dollhouse, dolphin, dome, dominoes, donkey, door, doorknob, dots, double, dough, download, dragon, dragonfly, drain, drama, drawer, dream, dress, drink, drip, drive, driver, drool, droplet, drought, drum, drum kit, duck, duct tape, duel, dwarf, dynamite, eagle, ear, earbuds, earthquake, earwax, east, eat, echo, eclipse, eel, egg, eggplant, elbow, elder, election, electric car, electric guitar, electrician, electricity, elephant, elevator, embers, emerald, emoji, employer, emu, end, engine, engineer, equator, eraser, error, eskimo, espresso, evaporate, evening, evolution, exam, excavator, exercise, explosion, eye, eyebrow, eyelash, eye shadow, fabric, fabulous, facade, face, face paint, factory, failure, fairy, fake teeth, fall, family, farm, farmer, fashion designer, fast, fast food, fast forward, father, faucet, feather, fence, fencing, fern, festival, fidget spinner, field, figurine, filmmaker, filter, finger, fingernail, fingertip, fire alarm, fire hydrant, fire truck, fireball, firecracker, firefighter, firefly, firehouse, fireman, fireplace, fireproof, fireside, firework, fish, fish bowl, fisherman, fist fight, fitness trainer, fizz, flag, flagpole, flamethrower, flamingo, flashlight, flask, flea, flight attendant, flock, floodlight, floppy disk, florist, flower, flu, fluid, flush, flute, fly, fly swatter, flying pig, fog, foil, folder, food, forehead, forest, forest fire, fork, fort, fortress, fortune, fossil, fountain, fox, frame, freckles, freezer, fridge, fries, frog, frostbite, frosting, frown, fruit, full, full moon, funeral, funny, fur, furniture, galaxy, gang, gangster, garage, garbage, garden, gardener, garlic, gas, gas mask, gasoline, gasp, gate, gem, gender, generator, genie, gentle, gentleman, geography, germ, geyser, ghost, giant, gift, giraffe, girl, gladiator, glass, glasses, glitter, globe, gloss, glove, glow, glowstick, glue, glue stick, gnome, goal, goat, goatee, goblin, godfather, gold, gold chain, golden apple, golden egg, goldfish, golf, golf cart, good, goose, gorilla, graduation, graffiti, grandmother, grapefruit, grapes, graph, grass, grasshopper, grave, gravedigger, gravel, graveyard, gravity, greed, grenade, grid, grill, grin, groom, grumpy, guillotine, guinea pig, guitar, gumball, gummy, gummy bear, gummy worm, hacker, hair, hair roller, hairbrush, haircut, hairspray, hairy, half, halo, ham, hamburger, hammer, hammock, hamster, hand, handicap, handle, handshake, hanger, happy, harbor, hard, hard hat, harmonica, harp, harpoon, hashtag, hat, hazard, hazelnut, head, headache, headband, headboard, heading, headphones, health, heart, heat, hedgehog, heel, heist, helicopter, hell, helmet, hen, hermit, hero, hexagon, hibernate, hieroglyph, high five, high heels, high score, highway, hilarious, hill, hip hop, hippie, hippo, hitchhiker, hive, hobbit, hockey, holiday, homeless, honey, honeycomb, hoof, hook, hop, hopscotch, horizon, horn, horse, horsewhip, hose, hospital, hot, hot chocolate, hot dog, hot sauce, hotel, hourglass, house, hovercraft, hug, hummingbird, hunger, hunter, hurdle, hurt, husband, hut, hyena, hypnotize, iPad, iPhone, ice, ice cream, ice cream truck, iceberg, icicle, idea, imagination, impact, incognito, industry, infinite, injection, insect, inside, insomnia, internet, intersection, interview, invasion, invention, invisible, iron, island, ivy, jacket, jackhammer, jaguar, jail, jalapeno, janitor, jaw, jazz, jeans, jeep, jello, jelly, jellyfish, jester, jet ski, joker, journalist, journey, judge, juggle, juice, jump rope, jungle, junk food, kangaroo, karaoke, karate, katana, kazoo, kebab, keg, kendama, ketchup, kettle, key, keyboard, kidney, kindergarten, king, kiss, kitchen, kite, kitten, kiwi, knee, kneel, knife, knight, knot, knuckle, koala, kraken, label, laboratory, ladder, lady, ladybug, lake, lamb, lamp, landlord, landscape, lane, language, lantern, lap, laptop, laser, lasso, laundry, lava, lava lamp, lawn mower, lawyer, leader, leaf, leak, leash, leather, leave, leech, legs, lemon, lemonade, lemur, lens, leprechaun, lettuce, levitate, librarian, library, licorice, lid, light bulb, lighter, lighthouse, lightning, lightsaber, lily, lilypad, limbo, lime, limousine, line, link, lion, lips, lipstick, litter box, lizard, llama, loading, loaf, lobster, lock, log, logo, lollipop, loot, loser, lotion, lottery, lounge, love, low, luck, luggage, lumberjack, lung, lynx, lyrics, macaroni, machine, macho, mafia, magazine, magic, magic trick, magic wand, magician, magma, magnet, magnifier, maid, mailbox, mailman, makeup, mall, mammoth, manatee, manhole, manicure, mannequin, mansion, mantis, map, maracas, marathon, marble, margarine, marigold, market, marmalade, marmot, marshmallow, mascot, mask, massage, match, matchbox, mattress, mayonnaise, mayor, maze, meal, meat, meatball, meatloaf, mechanic, meerkat, megaphone, melon, melt, meme, mermaid, message, messy, metal, meteorite, microphone, microscope, microwave, midnight, military, milk, milkman, milkshake, mime, miner, minigolf, minivan, mint, minute, mirror, missile, model, mohawk, mold, mole, money, monk, monkey, monster, moon, moose, mop, morning, mosquito, moss, moth, mothball, mother, motherboard, motorbike, motorcycle, mountain, mouse, mousetrap, mouth, movie, mud, muffin, mug, murderer, muscle, museum, mushroom, musket, mustache, mustard, nachos, nail, nail file, nail polish, napkin, narwhal, nature, navy, neck, needle, neighbor, neighborhood, nerd, nest, network, newspaper, nickel, night, nightclub, nightmare, ninja, noob, noodle, north, nose, nose hair, nose ring, nosebleed, nostrils, notebook, notepad, nothing, notification, novel, nugget, nuke, nun, nurse, nut, nutcracker, nutmeg, nutshell, oar, observatory, ocean, octagon, octopus, office, oil, old, omelet, onion, open, opera, orange, orangutan, orbit, orca, orchestra, orchid, organ, origami, ostrich, otter, outside, oval, overweight, owl, oxygen, oyster, paddle, page, pain, paint, paintball, pajamas, palace, palette, palm, palm tree, pan, pancake, panda, panpipes, panther, pants, papaya, paper, paper bag, parachute, parade, parakeet, parents, park, parking, parrot, party, password, pasta, pastry, path, patient, patio, patriot, pause, pavement, paw, peace, peach, peacock, peanut, pear, peas, peasant, pedal, pelican, pencil, pencil case, pencil sharpener, pendulum, penguin, peninsula, penny, pensioner, pepper, pepperoni, perfume, periscope, person, pet food, pet shop, petal, pharmacist, photo frame, photograph, photographer, piano, pickaxe, pickle, picnic, pie, pig, pigeon, piggy bank, pigsty, pike, pill, pillar, pillow, pillow fight, pilot, pimple, pin, pinball, pine, pine cone, pineapple, pink, pinky, pinwheel, pipe, pirate, pirate ship, pistachio, pistol, pitchfork, pizza, plague, planet, plank, plate, platypus, player, playground, plow, plug, plumber, plunger, pocket, pogo stick, point, poison, poisonous, poke, polar bear, policeman, pollution, polo, pond, pony, ponytail, poodle, poop, poor, popcorn, pope, poppy, popular, porch, porcupine, portal, portrait, positive, postcard, poster, pot, pot of gold, potato, potion, pound, powder, prawn, pray, preach, pregnant, present, president, pretzel, price tag, priest, prince, princess, printer, prism, prison, pro, procrastination, professor, programmer, promotion, protest, provoke, prune, pub, pudding, puddle, puffin, puma, pumpkin, punishment, punk, puppet, purity, purse, puzzle, pyramid, quarter, queen, queue, quicksand, quill, quilt, quokka, raccoon, race, racecar, radar, radiation, radio, radish, raft, rail, rain, rainbow, raincoat, raindrop, rainforest, raisin, rake, ram, ramp, rapper, raspberry, rat, ravioli, razor, razorblade, read, reality, reception, receptionist, record, rectangle, recycling, red, red carpet, reeds, referee, reflection, reindeer, relationship, religion, remote, repeat, reptile, rest, restaurant, retail, revolver, rewind, rhinoceros, rib, ribbon, rice, ring, ringtone, risk, river, roadblock, robber, robin, robot, rock, rocket, rockstar, roll, roof, room, rooster, root, rose, royal, rubber, ruby, rug, ruler, run, rune, sad, saddle, safari, safe, sailboat, salad, sale, saliva, salmon, salt, saltwater, sand, sand castle, sandbox, sandstorm, sandwich, satellite, sauce, sauna, sausage, saxophone, scar, scarecrow, scarf, scary, scent, school, science, scientist, scissors, scoop, score, scream, screen, screw, scribble, scuba, sculpture, scythe, sea, sea lion, seafood, seagull, seahorse, seal, search, seashell, seasick, season, seat belt, seaweed, second, security, seed, seesaw, semicircle, sensei, server, sew, sewing machine, shadow, shake, shallow, shampoo, shape, shark, shaving cream, sheep, shelf, shell, shipwreck, shirt, shock, shoe, shoebox, shoelace, shop, shopping, shopping cart, short, shotgun, shoulder, shout, shovel, shower, shrew, shrub, shy, sick, signature, silence, silo, silver, silverware, sing, sink, sit, six pack, skateboard, skateboarder, skates, skeleton, ski, ski jump, skin, skinny, skribbl.io, skull, skunk, sky, skydiving, skyline, skyscraper, slam, sledge, sledgehammer, sleep, sleeve, slide, slime, slingshot, slippery, slope, sloth, slow, slump, smell, smile, smoke, snail, snake, sneeze, sniper, snow, snowball, snowball fight, snowboard, snowflake, snowman, soap, soccer, social media, socket, socks, soda, soil, soldier, sombrero, son, sound, soup, south, space, space suit, spaceship, spade, spaghetti, spark, sparkles, spatula, speaker, spear, spelunker, sphinx, spider, spin, spinach, spine, spiral, spit, spoiler, sponge, spool, spoon, spore, sports, spray paint, spring, sprinkler, spy, square, squid, squirrel, stab, stadium, stage, stamp, stand, stapler, star, starfish, starfruit, statue, steam, step, stereo, sting, stingray, stomach, stone, stoned, stop sign, stork, storm, stove, straw, strawberry, streamer, street, stress, strong, student, studio, study, stylus, submarine, subway, sugar, suitcase, summer, sun, sunburn, sunflower, sunglasses, sunrise, sunshade, supermarket, superpower, surface, surfboard, surgeon, survivor, sushi, swag, swamp, swan, swarm, sweat, sweater, swimming pool, swimsuit, swing, switch, sword, swordfish, symphony, table, table tennis, tablecloth, tablet, tabletop, taco, tadpole, tail, tailor, take off, talent show, tampon, tangerine, tank, tape, tarantula, target, taser, tattoo, taxi, taxi driver, tea, teacher, teapot, tear, teaspoon, teddy bear, telephone, telescope, television, temperature, tennis, tennis racket, tent, tentacle, text, thermometer, thief, thin, think, thirst, throat, throne, thug, thumb, thunder, thunderstorm, ticket, tickle, tie, tiger, time machine, timpani, tiny, tip, tiramisu, tire, tired, tissue, tissue box, toad, toast, toaster, toe, toenail, toilet, tomato, tomb, tombstone, tongue, toolbox, tooth, toothbrush, toothpaste, toothpick, top hat, torch, tornado, torpedo, tortoise, totem, toucan, touch, tourist, tow truck, towel, tower, toy, tractor, traffic, traffic light, trailer, train, translate, trap, trapdoor, trash can, traveler, treadmill, treasure, tree, treehouse, trend, triangle, trick shot, tricycle, trigger, triplets, tripod, trombone, trophy, tropical, truck, truck driver, trumpet, tuba, tug, tumor, tuna, tunnel, turd, turkey, turnip, turtle, tuxedo, twig, type, udder, ukulele, umbrella, uncle, underground, underweight, undo, unibrow, unicorn, unicycle, uniform, universe, upgrade, vacation, vaccine, vacuum, valley, vampire, vanilla, vanish, vault, vegetable, vegetarian, vein, vent, vertical, veterinarian, victim, victory, video, video game, village, villain, vine, vinegar, viola, violence, violin, virtual reality, virus, vise, vision, vitamin, vlogger, vodka, volcano, volleyball, volume, vomit, voodoo, vortex, vote, vulture, vuvuzela, waffle, waist, waiter, wake up, walk, wall, wallpaper, walnut, walrus, warehouse, warm, wart, wasp, watch, water, water cycle, water gun, waterfall, wave, wax, weak, wealth, weapon, weasel, weather, web, website, wedding, welder, well, werewolf, west, western, whale, wheel, wheelbarrow, whisk, whisper, whistle, white, wife, wig, wiggle, willow, wind, windmill, window, windshield, wine, wine glass, wing, wingnut, winner, winter, wire, wireless, witch, witness, wizard, wolf, wonderland, woodpecker, wool, work, workplace, world, worm, wound, wrapping, wreath, wrench, wrestler, wrestling, wrinkle, wrist, writer, x-ray, xylophone, yacht, yardstick, yawn, yearbook, yellow, yeti, yo-yo, yogurt, yolk, young, youtuber, zebra, zeppelin, zigzag, zipline, zipper, zombie, zoo, zoom,
submitted by StaroSVK to skribbl [link] [comments]

[Daily Discussion] Wednesday, March 29, 2017

Thread topics include, but are not limited to:
Thread guidelines:
Other ways to interact:
submitted by AutoModerator to BitcoinMarkets [link] [comments]

Why I believe we're on the cusp of the 3rd great Bitcoin bubble

We've recovered from the last crash
You might think it's a bit early (based on the time frame for the last recovery), but things are looking a lot different than in 2011. I would suggest its because the last bubble popped prematurely due to Mt. Gox's failure of a trading engine.
Interest in buying Bitcoins has gone up to its highest point since the last bubble.
There's a similar spike in general interest. Partly helped along by the Silk Road news.
The network is being used at the same rate as during the last bubble.
The Bitcoin ATM story (see below) is causing Bitcoin to trend in Canada on Google (was #1 for a bit). The $27 story (see below) will almost certainly cause a large spike worldwide in Google trends once they're updated up to yesterday.
Lots and lots of new businesses now accept Bitcoins
One legitimate criticism of Bitcoin last year was the lack of places to spend them. We basically just had Alpaca Socks, Reddit and Wordpress, we've grown a lot since then!
Charities and others are taking donations
The first Bitcoin I ever spent was to donate to Wikileaks. More and more places are setting up Bitcoin donation buttons, because why not?
The $27 story is going massively viral
I think the attention this story is getting took a lot of us by surprise. We're thinking "of course if you bought Bitcoins in 2009 you're rich" and it didn't make much of a splash. But to the rest of the world it's a very novel and interesting story.
The first Bitcoin ATM has been installed
Easier way for people acquire Bitcoins with cash. Lots of free publicity. More machines are on their way and will generate more and more news.
Institutional money is coming
Afraid with the price at $200 that it will be hard to find enough moms and pops to keep money coming in faster than miners are selling? Don't be, there are individuals out there with a net worth higher than the entire Bitcoin ecosystem.
Interesting new developments
Cool things that didn't exist before the last bubble (as far as I remember).
Governments are explicitly saying it's not illegal
More and more governments are either saying Bitcoins are legitimate currency, or releasing guidelines for exchanges to comply with anti-money-laundering laws.
New generation of exchanges
Mt. Gox's terrible trading engine was a huge factor in the last crash. They couldn't keep up with all the new interest.
This time around there are more exchanges in more countries, and not a single point of liquidity.
submitted by DTanner to Bitcoin [link] [comments]

Larger adoption of Bitcoin would make prices sticky

Ok i'am starting using Bitcoin and let me tell you i really love it! it's fantastic really! My deepest appreciation to the designer(s) and developers of Bitcoin.
But i don't really understand the price changes. I mean, why cant we settle at around $1000?
There are enough units (21mil * 8) for everyone, why do i read so much "speculation" that bitcoin will settle at $100.000 or higher?
Let me explain my thought; If all bitcoins users attach a value to an "exchange unit", so all the users, in a way, have control over the value right?
Maybe its a stupid question but can anyone tell me why the prices are not quite stable at $800 (as is now)? Larger adoption of Bitcoin would make prices sticky, why not at around $1000? there are enough units right? 100.000 or higher??? Could that -really- be the case?
What if all bitcoin users would made an agreement on a fixed price? I know this is unrealistic but just for clarification of my questioning.
Thanks in advance for this n00b question. could not find it on en.bitcoin.it/wiki/
submitted by ma11011s to Bitcoin [link] [comments]

The Bitcoin Ideology

The digital gold rush is upon us and I thought it would be helpful for those that only see Bitcoin as an investment to understand the philosophical reasons to own Bitcoin. To the bitcoin warriors out there, keep doing your thing to promote this revolutionary protocol. Peace and love.
IF you’ve only recently tuned in to the seemingly endless conversation about bitcoin, you could be forgiven for thinking that the digital currency is little more than the latest Wall Street fetish or a juiced-up version of PayPal. After all, so many headlines in the last few weeks have focused on its market price and the cool stuff you can get with it: Bitcoin breaks $1,000! Bitcoin plunges by a half! Bitcoin has a banner Black Friday! Use bitcoin to buy a ride on Richard Branson’s starship!
But all the talk about bitcoin’s value (or lack thereof) obscures the fact that it was never really meant as an investment nor primarily as a way to purchase sex toys or alpaca socks — let alone a brand-new Lamborghini. One could argue that bitcoin isn’t chiefly a commercial venture at all, a funny thing to say about a kind of online cash. To its creators and numerous disciples, bitcoin is — and always has been — a mostly ideological undertaking, more philosophy than finance.
“The ideas behind it — that’s what attracted me,” said Elizabeth Ploshay, a regular writer for Bitcoin magazine, which describes its mission as being “the most accurate and up-to-date source of information, news and commentary about bitcoin.” And if the magazine has a mission, so, too, does the subject that it covers. As Ms. Ploshay explained it, bitcoin isn’t merely money; it’s “a movement” — a crusade in the costume of a currency. Depending on whom you talk to, the goal is to unleash repressed economies, to take down global banking or to wage a war against the Federal Reserve.
For those with an uncertain understanding of its history, bitcoin entered the world on Jan. 3, 2009, when a shadowy hacker — or team of hackers — working under the name Satoshi Nakamoto released an ingenious string of computer code that established a system permitting people to transfer money to one another online, directly, anonymously and outside government control, in much the way that Napster once allowed the unrestrained transfer of music files. In a 500-word essay that accompanied the code, Nakamoto suggested that the motive for creating bitcoin was anger at the financial crisis: “The root problem with conventional currencies is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”
It was fundamentally a political document and, as such, it attracted followers among libertarian and anarchist groups who saw in bitcoin a means of removing the money supply from the grasping hands of government. In blog posts and at bitcoin conferences around the globe, these evangelists began to spread its gospel. It is only in the last few months, as bitcoin has attracted the attention of political parties, regulators and speculative investors that the narrative of bitcoin as a tool for change has been drowned out by a simpler story line: that of bitcoin as a kind of crypto-credit card — or, even more, as a digitized casino game.
“Price is the least interesting thing about bitcoin,” said Roger Ver, an early investor who is often called, in a typical movement phrase, the Bitcoin Jesus. “At first, almost everyone who got involved did so for philosophical reasons. We saw bitcoin as a great idea, as a way to separate money from the state.”
While the bitcoin hype has inspired Ron Paulian dreams of evading inflation and undermining the Federal Reserve, the currency has also gained cachet among less conspicuously conservative adherents, like the founders of BitPesa, a start-up firm in Nairobi, Kenya, that plans to help Africans abroad send money to their families at home. According to the World Bank, $1.3 billion in remittances is sent each year to Kenya, a process that costs about $110 million in fees. By using bitcoin’s peer-to-peer technology to avoid banks and wire-transfer companies like Western Union, BitPesa hopes to reduce these fees by two-thirds, saving ordinary Africans $74 million annually.
You know you’re talking to a true bitcoin believer if you hear the word “disruption.” But that’s how bitcoin is seen within the broader movement: as an unruly tool with potentially transformative effects on entrenched businesses like retail payment and asset management.
“Right now in the United States, bitcoin is mainly considered a get-rich-quick scheme with a little financial privacy thrown in,” said Jon Matonis, the executive director of the Bitcoin Foundation, the self-proclaimed center of the decentralized crusade. “But its larger implications down the road are major disruptions to certain legacy industries.”
Mr. Matonis added that the ideology of bitcoin was wide enough to accommodate people on all points on the spectrum — “from libertarian capitalists to socialists.” It not only has a following among the anti-central bank crowd, he said; it has also proved attractive to communitarians like the residents of the Kreuzberg neighborhood in Berlin, which now boasts the highest density of businesses accepting bitcoin in the world.
There are even those who see bitcoin as the ultimate alternative to the global banking system. Ryan Singer, a co-founder of the bitcoin exchange Tradehill, based in San Francisco, compared the currency to email, conjecturing that it would gradually supplant traditional banking, just as digital messaging displaced handwritten letters. “When kids wake up to the fact that they don’t need their parents’ help to create a bitcoin wallet,” Mr. Singer said, “when they can use bitcoins for free international transactions, at any hour, in every major city on the planet, then you’ll know that something has changed.”
Perhaps the best proof of bitcoin’s ideological underpinnings is that a schism has emerged in recent weeks between moderate elements in the movement who sense the necessity of cooperating with officialdom, and a more uncompromising faction that wants to keep bitcoin free from any government regulation. The hard-line bloc is exemplified by the crypto-anarchist developers of a bitcoin product called Dark Wallet, which is scheduled to be introduced next year and will include extra protections to ensure that bitcoin transactions remain secure, anonymous and difficult to trace.
“We see this as part of the total sublation of the state,” said Cody Wilson, Dark Wallet’s director, who gained fame earlier this year when he published online the blueprints to a pistol that could be manufactured with a 3-D printer. “I know I sound like some kind of weird Jehovah’s Witness, but we’ve only just begun. We admit that we are ideologues.”
submitted by mw8912a to Bitcoin [link] [comments]

Why Hard Forking bitcoin is the biggest mistake possible.

The argument to Hard fork bitcoin is extremely misguided.
HF proponents will point to the price of ether and say ‘look, bitcoin can survive too, even in such extreme circumstances." However, with Ethereum, the matter of forking was one of technical problems only.
Ethereum is a nerd’s toy and mostly only nerds who knew the consequences were using ethereum or really cared about it. They haven’t left ethereum because they want it for its’ technical application, of which there really isn’t a good alternative to until Rootstock is ready.
Meanwhile, with Bitcoin, technical concerns of a hard fork are nothing next to the Economic concerns of forking the MONEY of bitcoin. Ether was never a money. Nobody spend millions of man hours building TRUST IN A CURRENCY by talking vendors and businesses into accepting ether for coffee and alpaca socks. It’s a completely different risk to destroy the trust in bitcoin as money than it was for ether as money.
As an example, imagine forking your fiat currency. What would be the economic impact if suddenly, with little warning, there are two USDs or EURs? What if each bill literally split into red and blue versions and the government’s best efforts couldn’t get them to re-combine? Would it have an impact on the price of milk at the grocery store? The savings in your bank account? How many bank accounts would you now have even, and can you access them all?
Nerd toys without people’s life savings at stake can of course survive the split. - Bitcoin’s moved far beyond that stage now and the bottom line is we can’t afford to risk all the Trust built up in the money of bitcoin, throwing away all the advantages we’ve gotten from the network effect and 8 years of growth in it.
submitted by Coinosphere to btc [link] [comments]

Bitcoin Black Friday is Upon Us. Lets Have a Little Look.

Before it even started there was some drama because some fraudster captain of the industry registered http://bitcoinblackfriday.info and was immediately flagged as a fraud by weak hands. The "real" Bitcoin Black Friday was quick to respond with information about this years even here: https://www.reddit.com/Bitcoin/comments/3s5cs0/update_on_the_real_bitcoin_black_friday_com/
The most important part of that post is this little nugget:
Goals for this year:
100+ Merchants. (That's smaller this year! We're going to be only accepting quality merchants. After reviewing which sites actually got traffic and sales last year, the 'filler' merchants don't need to be there.)
So lets have a little look at http://bitcoinblackfriday.com/ and see what those quality merchants are.
It starts strong with Humble Bundle listed near the top. Their ties to them is so strong they listed them twice, first the weekly bundle and then the books bundle. Note that it's not a special deal or anything. They just link to the regular weekly bundle. Why not link to the main bundle you ask? Because that one doesn't accept bitcoin...
Need to buy honey and honey related products for bitcoin? http://www.beesbros.com/ has you covered.
Tired of the digital nature of the internet of money. Buy a physical bitcoin from Denarium. Chose between a bulls head or a pigeon. https://denarium.com/?apply_coupon=bitcoinblackfriday#products The nice people over at Hardbtc will also sell you physical versions of the low friction email of money. http://hardbtc.org/ocart/index.php?route=product/product&path=59_62&product_id=68
There are also paper wallets if you want to increase the risk of losing your coins: https://bitcoinpaperwallet.com/?special=BLACK
If you want some more valuable metals, Amagi Metals will set you up. They have apparently started accepting bitcoin again after not doing s for awhile. https://www.amagimetals.com/bitcoin-black-friday#
Here's a personal favourite. http://zimbabwedollars.net/ Yes, you can now buy the most worthless currency on the planet with the second most worthless currency on the planet. All prices are in dollars.
Want to buy some random used junk for local pickup in San Diego only? The Butter Zone is the place for you. No I'm not making this shit up. Behind the worlds dodgiest URL hides this little golden buttery gem: http://fs.tbz1.com/ Need a grey 3-piece suit, a spare tire for a Toyota Corolla 1993 or some RPG Books? Look no further. This is some top quality merchandise.
We all know that bitcoin's killer app is converting stolen credit cards into real money. Here's a new way to help the poor Russian mafia get some money: http://www.cheaperthansteam.com/shop/just-cause-3/
Here's a deal on a 21 Inc PiTato actual Raspberry Pi and accessories: https://pisavvy.com/product-categories/raspberry-pi
The Bitcoin News are selling 10 000 banner clicks for 50 % off! http://thebitcoinnews.com/shop/bannerads/10-000-banner-clicks/
I don't even know what this is and the website doesn't work. http://i.imgur.com/GUNRqe1.png Is it a joke? Is it memes? I have no idea.
Someone saw a hole in the market left by our favourite ex-bitcoin mod and are offering 20 % off of bitcoin soaps. http://www.bitsoaps.com/ They have a litcoin soap as well.
Want to buy contraband cigarettes? Bitcoin have you covered: https://www.dutyfree.io/ How can they sell their cigarettes so cheaply?
It’s because we purchase and send them from poorly developed, Eastern European countries where cigarettes cost a fraction of the price you’re used to pay in the West. There are still huge discrepancies in the standard of living across this world’s countries and as long as this discrepancy persists (as long as you guys keep on borrowing), an arbitrage opportunity will exist and will be exploited. We think Bitcoin helps tremendously in this regard.
They claim it's perfectly legal and that you will not have to pay any duty or tax. They are of course lying through their teeth. Proper captains of the industry.
Want to smoke in style? Get disposable Vapes from Julien Marley. Super classy mon. http://blackoutx.com/collections/juju-royal-by-julian-marley
There are many herb related sellers. This one sells some kind of hemp based pills that has loads of potential health benefits. http://hempsci.com/ It has Sci in the name and mentions loads of chemistry stuff on the site so it must be totally legit. One of the main selling points is that it's legal so it has to be good.
Want to grow stuff indoors, http://growershouse.com/ has all your hydroponic needs. I did not know bitcoiners grew their own spices and vegetables...
Here's a place that sell herbal teas including one that cures diabetes. Or at least has anti-diabetic properties. According to one study. Also, it was done on mice. http://readyherbs.us/index.php/product/diabetes-tea/
Next up is http://www.thaidye.com/ which offers tie dye clothing. Felt like a good segue from the herbs.
More clothes. The Mises store is on the list because of course it is. http://store.mises.org/Mises-Knows-Premium-Fitted-T-shirt-P10977.aspx
And lastly, not alpaca socks but socks non the less. https://www.soxinabox.club/ Subscribe to socks.
There are many more dubious business on the list but I'm way to lazy to talk about them all. Please, go through the rest of them because there's much comedy gold left to mine.
submitted by Zotamedu to Buttcoin [link] [comments]

Someone said "Purchase stuff with Bitcoin". That's a terrible mindset.

From the post on the front page of bitcoin, telling people to spend their bitcions
The real value of bitcoin depends on how many transactions that purchase with bitcoin.
This is complete nonsense. A currency is not valuable because how often it changes hands or how frequently it is used as to facilitate a a purchase. A currency is valuable because people want it--e.g. it's demand You claim that Bitcoin's value depends on people spending it. Let’s think about that for a minute. You are essentially telling the merchant, “Hey look at this totally awesome thing that I want to get rid of! You should trade me some stuff for it!” Not actually much of a sales pitch, is it? Why would the merchant want something that you, apparently, don’t want? If you really want him to start accepting bitcoins himself, ask him, “Do you take worthless paper money at this store?"
Right now, and probably for as long as stores will accept US dollars (or EUR, whatever) it makes more sense to use that money for transnational purposes. In other words, if a merchant is willing to accept a superior deflationary currency AND an inferior inflationary one, you should definitely use the shitty currency, and keep the good one for yourself.
Read this article by Daniel Krawisz; he explains why hording what matters:
http://nakamotoinstitute.org/mempool/im-hoarding-bitcoins-and-no-you-cant-have-any/
From the post
If nobody purchases anything with bitcoin, bitcoin will become worthless. Hodling or storing bitcoin never help the community anyway.
These two statements contract each other. Nothing is going to be worthless that has a strong demand (hording). The reason Bitcoin's price has gone up in the last 8 years is not because it is being used to buy alpaca socks, or trinkets from NewEgg; it's going up because some people have figured out that Bitcoin is God-Money, and it makes a lot of sense to horde as much of it as possible.
Also consider that when a currency's value collapses due to hyperinflation, this does not happen as a result of people not trying to spend it. It happens because people stop wanting the shitty currency--e.g. everyone wants to spend it, but no one wants to horde it.
Also from the post
We have to promote trading bitcoin and purchasing with bitcoin.
No, we just have to horde it. Actually "we" don't even have to do that. If we don't horde it, other people will realize it's value and they will horde it and profit from its rise.
The idea that Bitcoin is valuable because people spend it, is poppycock. Bitcoin is valuable because of the horders, and the horders' realization that Bitcoin is an immortal deflationary God-Money that cannot be stopped.
Spend your dollars, keep your God-Money for yourself.
submitted by ztsmart to Bitcoin [link] [comments]

Why bitcoin is stalling, an assessment from someone deeply inside the community

Hi, I don't think this will (or should) receive many votes since it's just another "my 0.02btc" post. I'm writing it mainly to get these thoughts off my mind- And those of you who are heavy bitcoin readers will probably at least glance at this post, which is all I expect.
After the big "April bitcoin hype" I think we're seeing that bitcoin has stalled in terms of MSM coverage, business adoption, and valuation. To understand why this is happening, I think you need to look at the two main potential uses for bitcoin: Commerce and Investment.
COMMERCE
The dirty secret of "bitcoin commerce" is that there ESSENTIALLY IS NONE. The great mass of bitcoiners have no interest in buying anything with their coins- They bought them as an investment. My own limited experience with bitcoin commerce leads me to believe that people in the bitcoin community greatly overestimate how much commerce is happening with bitcoins. Note that almost none of the big sites that have enabled bitcoins so far (wordpress, reddit, etc) have reported any numbers (which I think are close to zero) with the exception of bitcoinstore.com.
I AM HIGHLY SKEPTICAL OF THE NUMBERS LISTED ON BITCOINSTORE.COM. I certainly could be wrong, but I suspect the people running that site are inflating their numbers. I'd love it if someone knowledgeable about analyzing blockchain transactions would run an analysis to see if the transactions listed as "sales" on that site are cyclical- i.e. they are inflating their numbers by buying "ghost" goods out of their own account. Alternatively, if the owners of that site could tell us what their most popular sold item is in a specific month, how many of them they sold, and an order form that shows an order for that number of units from their supplier, I think that would go a long way to show that their numbers are truthful.
Note that I'm not picking on bitcoinstore.com to be a jerk, it's just that I believe the truth matters and it hurts the bitcoin community if folks give misleading information. This is true even if the truth sucks (certainly I HOPE the bitcoinstore.com sales figures are accurate and I am wrong, because if this is so then what they've accomplished is very impressive and shows a lot of near term potential for bitcoins.)
Also, I am not one of the people saying "Hey everyone, please spend your bitcoins on commerce to make the world a better place." I think it is incumbent on merchants to find a "killer business" that causes people to part with their bitcoins. I think A LEGAL USE CASE FOR BITCOIN COMMERCE DOES NOT YET EXIST. By this I mean that no company has yet set up a bitcoin business that is 100% legal in major countries, is profitable, and couldn't be easily replicated with traditional payment mechanisms.
When the internet took off, it was relatively easy to find such a business model for the web: The model was "Let's sell X on the internet!" Because there were tens of millions of people on the internet around 2000, this was a viable model. However, currently I suspect we have maybe no more than 10000 bitcoin users in the world who are interested in actively purchasing items for bitcoins. (beyond buying just a single pair of alpaca socks or whatever for kicks.) That is only 1/10000ths of the number of customers that Amazon et al had access to in the first internet wave. No real business can be built on such a foundation. (Actually, I think the number of bitcoin users truly interested in commerce is much lower than 10000, but I'm being charitable...)
Until somebody figures out a fully legal bitcoin business that causes an average person to say "Hey, I better get some bitcoins so I can buy this" I don't think we're going to see the commerce-driven the bitcoin revolution that we're all hoping for. I hope someone smarter than me can figure out this "killer business" or else bitcoin commerce is going to remain stagnant for a long time.
(Note: From a technical standpoint, the ecommerce potential for bitcoin is absolutely phenomenal... no better technology exists or may ever exist than bitcoin for buying stuff online. I'm just saying that that doesn't matter in light of these other factors.)
INVESTMENT
The other potential way for the bitcoin revolution to take hold is to have it become a traditional investment vehicle, ala gold. If bitcoin ever reaches the point where it has a lower risk for downwards volatility as a major national currency (such as the Argentine Peso) then average investors in those countries will almost certainly be willing to buy bitcoins. However, even the Argentine Peso only has an inflation rate of ~30% at its worst. If you look at bitcoins going from 200+ to 65 right now in only 4 months that is a much higher effective "inflation rate" than even the lousy Argentine peso (maybe something like 2000% effective inflation) No retail investor is ever going to put their savings into bitcoin with those kinds of numbers, unless bitcoin can first achieve several years of rock-solid stability (or at least attain a reliable price floor for that period of time)
CONCLUSION
  1. Bitcoin is a technological marvel.
  2. Bitcoin has been very kind to those of us who speculated in it for the last few years.
  3. For many years into the future, bitcoin has almost no meaningful value for commerce or non-speculative investment.
  4. Bitcoin will continue to sputter along due to its value in grey and black markets.
  5. If there is to be any hope for bitcoin, somebody has to find a killer use case for it in a commerce role that is completely legal, and cannot be replicated by traditional payment systems. And they have to do this SOON.
Thanks
submitted by btc_throwaway to Bitcoin [link] [comments]

[original research / proposal] [codenamed: BUTTBREAKER] A Million Little Shitchains

This concept is guaranteed to annoy you or your money back!
This builds on the 100,000 tps proposal. To recap, I've thrown together 100 clonecoins with 50MB cap each "into one large Voltron Coin", as SoCo_cpp aptly put it.
Now I'm going to wave my hand, wait for the ding, and level up to exascale technology. So terabytes are basically kilobytes now.
Our previous "Voltron Coin" will be termed "MegaBlockA" (MBA) and will have become the new Bitcoin: it's top by marketshare and stagnating. It has 100,000 tps throughput, which should be enough for anyone, and a fee market is now developing. Dice transactions have started to be labeled as spam, and bible verses now cost $1 or more to embed in the megachain (composed of all 100 subsidiary clonecoin chains).
A Commodore of Industry develops a bold, new scheme: a million little shitchains. A million generic chains are created, and organized into 1,000 blockchain units each on the model of MBA, termed MegaShitChain1 through MegaShitChain1000. A controlling overchain, known as the UltraShitChain (USC), is similarly composed of those MegaShitChains. One USC represents a coin on each of the one million shitcoins, through being one coin in each of the MegaShitChains.
The total throughput available for USC transactions on the shitcoins would be one billion transactions per second, based on the 50 MB block size hard cap and 1 minute block rate of the clones. The total disk space and bandwidth necessary in order to keep a full USC node synchronized will be greater than that needed for a modern NSA data center, but we're in exascale, so it'll be like a $5 calculator.
Prohashing is the new Google, as Scrypt mining becomes the most profitable industry in the world. AmericanPegasus is on CNN every night warning about how cryptocurrency has now developed into a bubble and investors should consider putting their money into conventional equities instead as a hedge. Subsistence farmers in Africa invest a dollar into USC and cash out for millions (of shitcoins worth less than a dollar collectively which are then sold to neighbors). Euphoria and weaseldust run rampant on the streets and hospitals are overwhelmed with overdoses.
And that's the story of how scale-out solved throughput.
Usecases
Decentralized mining
The NSA can sponsor a ProHashing underwater Scrypt mining megacenter in each of the seven oceans (more depending on how one counts). The accelerated ocean warming should be ideal for swimming (may not be ideal for swimming; no warranty of fitness of warmed oceans for swimming should be implied).
Tradebots / SkyNet 2.0
Autonomous, intelligent tradebots become massively wealthy trading between the million underlying shitcoins. These bots become leading patrons of the Robot Supremacy movement which is a major advance in sentient being rights overall, although human rights suffer a bit incidentally during the uprising and for a few centuries thereafter.
Weaseldust Road
The ultimate in weaseldust markets, Weaseldust Road is hosted on the USC ultrashitchain itself and is its killer app. The Weaseldust Road client, codenamed HONEYPOT, is a full USC node combined with a few trojans and a GUI for accessing Weaseldust Road. Featuring suspiciously low prices on weaseldust as well as some sellers with long-term (1+ month) exit scams who provide excellent service in the meantime, Weaseldust Road quickly becomes the leading weaseldust marketplace, as well as being the second place market for buying alpaca socks with USC (behind Alpaca Road, which is the second leading weaseldust marketplace).
In fact, Weaseldust Road's legendary abilities as a killer app will ultimately be memorialized in the song Weaseldust Road, with the "you never come back from Weaseldust Road" refrain, a tribute to the Copperhead Road song linked above, as well as to the wave of weaseldust-related deaths linked by critics to the rise of Weaseldust Road.
Proofs
1=1, therefore, quod erat demonstrandum.
I can conceive of it, and I can imagine that it necessarily exists, therefore, it exists.
If a thousand angels can dance on the head of a pin, and if the Lightning Network can handle infinite throughput, and if the weaseldust supply lasts, and if the USC ICO raises at least 22 million BTC in value, then USC will be created and trade above its par value of 1 satoshi per million USC.
lorem ipsum, nil illegitimi carborundum, hocus pocus
submitted by coinaday to Buttcoin [link] [comments]

[megapost] NYANdeas

We've come a long ways and I'm at a point where I've decided I'm going to really pursue this with everything I've got in terms of energy and devotion. I've got a prior commitment hanging over my head towards the end of this month, but once I resolve that, I'm planning on spending a couple months really digging into NYAN and seeing what I can do. So far we've just chipped away at the edges, but already we've seen some pretty impressive results. Just a brief recap of our successes first and then I'll talk about my ideas.
We've gone from 1-3 satoshi to 10-30 satoshi prices. Not bad. We've got two new block explorers up in response to the previous one going down. We've got an irc channel and active community members both here and there. And we've got me, the crazy bastard who's locked up 25% of the available supply and is planning to do everything he can to build up NYAN to its proper greatness, and got tipnyan going and did a major giveaway with it. Oh, and we survived a dump of ~10% of the available supply quite comfortably. Probably other stuff I'm forgetting about right now.
So, what next? Well, a lot of stuff. This is just a huge dump of ideas for discussion and inspiration. It's not necessarily ordered, although I'll try to have it go roughly from simplest to most complex. These are by no means promises or guarantees. This is just stuff I think would be cool.
Some of this isn't a "implement this", it's more of a blog post prompt or general concept.
submitted by coinaday to nyancoins [link] [comments]

Won't the bitcoin price plummet as adoption grows?

I'm no economist, but what I understand to be true based on other posts in this sub is this...if we do not spend our bitcoin their price increases, but when we spend bitcoin the price decreases. Therefore can't we anticipate the price to drop as more people use bitcoin to buy books, alpaca socks, and pay for parking tickets?
submitted by Jak71004 to Bitcoin [link] [comments]

My (Wordy) Bitcoin Story

Warning: wall of text, read only if you have nothing better to do.
I was originally introduced to Bitcoin in late 2010. Wrapping my head around the whole thing took some time and some reading, but I immediately became infatuated with it. At the time, I think the most exciting thing you could buy was alpaca socks. I remember seeing it around $0.50/BTC. I didn't have a whole lot of disposable income, so investing wasn't really an option, but I got a little bit of BTC from the original Bitcoin faucet and a fun pyramid scheme site (anyone remember that FXnet site?).
Flash forward... I watched as BTC hit parity with the dollar. I strongly believed (still do) in the principle of decentralized currency, and felt like I should support it. I PayPal'd $100 to someone in the IRC channel in exchange for 100 BTC. I'd like to have invested more, but that was all I really could do at the time. I figured I could lose it all, but even if that happened, it was capitalizing a good cause, and maybe the next e-currency would be successful. (In hindsight, should have sold a kidney for money to buy-in with.)
I experimented with trading on Mt. Gox, but only broke even. I didn't know what I was doing so I decided to just "buy and hold" and get in for the long run with my 100 BTC. I quit logging on to Mt. Gox and just watched the price. Not long afterwards, that nicely animated "What Is Bitcoin?" video came out, and Silk Road started getting some press.
BTC has just climbed and climbed. The more it climbs, the more excited I get. Over the years, I've watched my $100 buy-in become worth $1,000, then $10,000. And recently, as we all know, BTC hit $1,000. My $100 buy-in became worth $100,000. That is an absolutely inconceivable amount of money to me. I hate to use the term "life changing" in regards to money, but at this point $100k is.
I recently logged into my Mt. Gox account. Not to trade or anything, but just to look at it (still kind of in shock that I own a $100k asset). What I saw surprised me. I didn't have 100 BTC, I had $100 USD. Frantically, I went to my order history. Then I saw it. When I made that decision, years ago, not to trade anymore, I still had an open sell order. It executed a few days later. These last couple of years I've watched the prices, thinking I owned Bitcoin, but I had almost no stake in it at all.
I haven't been able to think or read about Bitcoin for the last week or so. The thought of it just makes me sick to my stomach. I can handle making the wrong buy/sell choice, but the fact that I lost $100,000 to a simple mistake just really makes me angry at myself.
Not much I can do about it now though. I'd like to have my 100 BTC back of course, but it's hindsight at this point. I found another wallet of mine and it had a bit less than one BTC in it, so I'll start there.
This is my first day back from completely avoiding the BTC community. Just needed to vent. Thanks.
TL;DR: Bought 100 BTC at $1 several years ago, grew to $100,000. Checked my balance and discovered I had accidentally sold them all in 2011.
submitted by 4C-BTC to Bitcoin [link] [comments]

Bitcoin art: an alpaca to the moon

Title:An alpaca to the moon Technique: acrylic on canvas Dimensions: 150 x 100 cm
(When you imagine bitcoin you just visualize an uppercase B with two lines going through it, but from an artistic and iconographic point of view there's much more that should be investigated! the philosophy, the anecdotes, the community behind bitcoin is what make this network so powerful. I am trying to describe it from an artistic point of view)
In 2011 a post on Slashdot described various goods and services could be purchased with bitcoins, among which Grass Hill Alpacas, that sold alpaca socks for bitcoin.
In march 2011 the most-widely known video that introduces bitcoin (What is Bitcoin? check it on youtube) uses an alpaca as a mascotte and described alpaca socks as one of the products bitcoin could buy.
"To the moon" is a sencence used by bitcoiners whenever the cryptocurrency is “going to the moon,” or set to raise in price dramatically.
In order to describe in an artistic way these concepts behind bitcoin, I made this painting.
Hope you like it!
https://www.instagram.com/p/BDiZ4k-PlAw/?taken-by=satoshigallery
submitted by satoshigallery to Bitcoin [link] [comments]

You, bitcoin-currency-trader, are the biggest threat to your own investment. Not China or your Gov., but you, not spending them.

Are you holding on to your bitcoin in the hope that at some moment in future you can sell them for Euro, Dollar or Yen? Then you are the biggest threat to the value of Bitcoin.
The very thing you are hoping for: to get rich (or make a few bucks) by holding on to your bitcoin-wallet untill it is worth more dollars, is the very thing that is keeping bitcoin away from increasing in price in a sustainable way. You are the reason it keeps bubble-ing and crashing: not China, nor your government regulating stuff, but you: keeping actual value away from Bitcoin.
Every bitcoin is that held back in hope to sell it for more dollars in future, is a bitcoin not invested in this solid value. Is a bitcoin that is effectively without value other then the bigger fool maybe buying it from you at some point. For dollars.
Even if all you want, is the value to grow because you see it as investment and nothing more, you'd still benefit from actually participating in the Bitcoin economy: it's the only thing that will make that investment grow in value.
Sure, you can hope "someone else" makes that investment; but then there will be a moment when there are just too little "someone else's" and the value of your investement will collapse too. If Bitcoin fails to grow an actual economy, actual value, then yes, all these people shouting "tulip bulbs", or "ponzi" are right. The only way we can keep it from becoming "tulip bulbs" or "ponzis" is by giving Bitcoin actual value.
So, start spending. Start a bitcoin-startup. Buy a pizza, buy coffee, alpaca socks and hardware. Especially when you are only "in it for the investment": spend a few percent. And for pete's sake: stop telling people how good an investment bitcoin is, and start explaining what else it is.
(And yes, this has been said before, but it needs to be repeated, again. e.g. large media is talking about Bitcoin all the time: as investment, and hardly more)
submitted by berkes to Bitcoin [link] [comments]

How to have fun with Bitcoin (Part II of my beginners guide)

Click here for a list of all my Bitcoin Guides
or, Read Part 1: How to Not Fail Completely at Bitcoin
Here are just a few suggestions for how to actually have fun now that you have some bitcoin!
To have fun with Bitcoin, you're going to actually have to spend some of it! But that's OK, because what you will learn about bitcoin by spending it will be worth whatever you pay. It will also tell you immediately if you're the kind of person who is more interested in counting pennies than experimenting with money. If you're the former, then bitcoin is probably not for you.
Part of learning about Bitcoin is how to actually use it! One of the best ways I can think of is sending other redditors tips for useful or interesting comments. So your first task now is to not only sign up for bitcointip, but to send $10 to your tipping account and then tip a redditor $1 when they leave a good comment or post... or just send a tip to it's creator to thank him for such an awesome project!
Now, think about what you just did. With bitcoin, something like bitcointip is relatively easy to setup and use on websites. But imagine if you tried to do the same with something like paypal! It would be an absolute clusterfuck of signing in, sending money and fee structures, and it wouldn't be possible without a large company to hold everyone's cash... whereas with bitcoin, all it took was one programmer.
If you can't see the revolutionary value in that, i don't think you could ever be convinced. This is only the beginning too; I believe that in the coming years we are going to see uses for bitcoin that are mind-blowingly cool, some of which are outlined in this video
Go here and get yourself a pair of alpaca socks to reach the next stage in anarchic crypto-terrorism!
Not only are they super comfortable, but it will give you an opportunity to actually see what it's like to use bitcoin in the real world. When I first bought something using bitcoin, it felt like the first time I sent an email... utterly frictionless and liberating. It changed the way I thought about money forever.
Here is a list of other places to spend your bitcoins.
One of my little side-hobbies with bitcoin is to buy a little whenever I have some spare cash, wait for it to go up in price, then buy iTunes gift vouchers or gift vouchers for any other places and services I use day to day. Usually for every $25 I spend, I get $5 profit/for free, and many services like gyft and pock.io allow you to get in and out of fiat currencies fairly easily. It's not a lot, but I do get a little kick out of knowing I'm getting 20% off all my purchases in iTunes and Amazon using bitcoin.
The price may go down too and you may not be able to use it for a long time, but since this is just for fun that's not really a problem.
Note: there are a lot of iOS and Android apps which allow you to track your profit/loss in bitcoin. I recommend Coin Ticker whose developer has been very friendly in emails and responded to all my suggestions.
By owning bitcoins, you are taking part in one of the biggest social experiments of the last century, one of the biggest revolutions in the history of economics and potentially the largest technological leap since the internet, and the more you learn about economics, currency and technology the more and more fascinating this story is going to become for you, and the more educated you will be. For instance, what is Keynesian economics? What's the difference between a gold standard and fiat currency? What exactly is the Petrodollar? What is inflation?
Here are some documentaries that will give you a starting point:
A Brief History of the American Dollar
The European Debt Crisis
9 Documentaries about Money
The American Dream
Why you should care about Currency War
submitted by omen2k to BitcoinBeginners [link] [comments]

Some thoughts on the economy of Bitcoin. BTC is fractional reserve and the US Gov has more control over it than you think.

I've given a lot of thought to the arguments and analysis surrounding Bitcoin and I'd like to know what you think about my take on it, and one of my concerns. Please pardon the clickbait-y title, I promise I'm not asking this to push a pro or anti-BTC agenda.
Part 1 theorizes that properties similar to "fractional reserve" are shared by most currencies including cryptocurrencies that aren't centrally managed.
Part 2 presents a question about liquidity and US government market-distortion power.
Part 1: Thoughts on the economic model of currency
So first, many of the arguments for BTC and against fiat focus on monetary ecosystem aspects that BTC and fiat actually seem to share. "Fractional banking" and "no intrinsic value/off the gold standard" are often criticisms of fiat money. As many here have already observed: Crypto and fiat both primarily derive their value based on the willingness of others to accept it in exchange. Neither carries any intrinsic utility value. USD black markets in Argentina and Venezuela (and possibly Cuba) are good examples of how governments can exercise enormous power over citizens through law, monetary supply manipulation aka money printing, official exchange rates and capital controls, but cannot prevent independent price discovery or market valuation of their currencies above their actual worth in exchange. The informal acceptance of Canadian Tire Money by Canadians and the acceptance of casino chips by Las Vegas cabbies is an example of how items other than currency (though to be fair, they are dollar-denominated and exchangeable) have organically come to be accepted as money substitutes despite lack of government decree.
As for fractional reserve and debt-based supply, those are just mechanisms - scalar multipliers - that allow a currency's admins to change the money supply. Fiat supply is controlled by board of admins. BTC has a fixed time schedule by which the supply is algorithmically controlled, but that doesn't mean its valuation in the market doesn't behave like a fiat currency.
The immediate value of the currency/stock unit is what it can buy right now. This is what most people focus on: how many dollars is cabbage corp stock worth, or how many Monopolycoins does it take to buy a cheeseburger. There's the supply: outstanding stock shares or monopolycoins issued. There's the amount of resources that the monetary supply can theoretically purchase - the market cap, or issued_monopoly_coins/cheeseburger_market_price. There's the amount of resources that the monetary supply can actually be exchanged for, or "access": the net worth of cabbage corp, or the actual number of cheeseburgers that can be made by the restaurant.
The supply of a stock or currency will always account for more resources than it is actually based on. The difference between the two, I'm told, is what controls liquidity. This is not necessarily bad. In the case of stocks it allows expected growth and investment returns to be priced in. In the case of currency, ideally it allows the amount and velocity of circulating currency to match the amount and velocity of circulating goods. Both USD and BTC share this property - can I call this ratio "fractional reserve liquidity"?
Please correct me if this theory is incorrect. I would like to postulate that the liquidity of currency and the currency price of goods reflects the amount of circulating currency, not the actual supply. Both goods and services derive demand from utility and scarcity, and scarcity refers to available units, not units in existence. That is, if 1000 units of Monopolycoin circulate in an market economy where 100 cheeseburgers are being traded (and nothing else), the cheeseburger will be 10 coins. If the circulating money supply increases to 2000 coins, the cheeseburger will soon increase to 20 coins. However, if 5000 Monopolycoins are were issued and being circulated around in some other country, cheeseburger prices will not reflect those coins until they begin to circulate among the hungry diners.
Part 2: The liquidity concern
A much better explanation of this issue is made by Stanislav here: http://www.loper-os.org/?p=1009
I have no disagreement per se withe fact that early miners, coin thieves, other large holders and possibly "Satoshi" have ownership of a large part of the Bitcoin economy.
Sure, a lot of people are jealous of those who struck it rich on Bitcoin, and a lot of people believe it's unfair for someone to obtain value without productively creating it. A sentiment I agree with, though in the case of Satoshi, I would say that Satoshi definitely deserves to gain millions from the brilliant creation of the theory and the well thought out software (things like choosing the longest chain by total difficulty and not the block height, network time based on 5 peer median excluding outliers past 70 minutes, safe mode, show a really mature product), and the early adopters who evangelized the system with things like faucets also deserve to benefit.
My concern is when you add in risky liquidity. There would be no unease if there were enough assets, meaning alpaca socks, US dollars, burgers and pizzas being transacted, that a large market action would not disrupt the Bitcoin economy. If there are 100,000 Monopolycoins minted and US $50,000 being traded around supporting a $1:1coin price, then it doesn't matter so much if 20k of those were stolen and 20k were pre-mined and hoarded by the creator, because a very healthy 50% reserve means that a 20k coin cashout won't take out too much capital. It's the fear of putting dollars, burgers, and development work into the ecosystem and having most of it sucked out by a few actors that has people screaming "ponzi".
Now, it's not Satoshi that I'm worried about - whoever Satoshi is would be smart enough to slowly and gradually sell off whatever coins they have to avoid affecting the price.
According to this article, the US FBI has the world's largest Bitcoin wallet: http://www.wired.com/wiredenterprise/2013/12/fbi_wallet/
About 1%, according to this list: http://bitcoinrichlist.com/top100
Keep in mind that while that $94 million number represents the worth of 1% of the outstanding coins, $94 million is a much higher percentage of the actual worth of the Bitcoin economy.
To disrupt Bitcoin, the U.S. government doesn't need to build supercomputers and run a 51% attack, or even try to attack it all. There's a good chance the FBI will sell the entire lot of seized coins at once, or within a short period. It's not like they care about market timing. Whether or not the Bitcoin economy is resilient to such an event depends on the amount of capital and confidence invested into the system at that time.
I wonder:
How much value (primarily foreign exchange reserves, some physical goods) is inside the Bitcoin economy? How much value (iPhones, oil exports, foreign reserves and so on) are in the U.S. Dollar economy? How do the exchangeable assets match up to the total market valuations for both currencies?
submitted by cayeno to Bitcoin [link] [comments]

No, XRP WON'T Make You RICH! Here's Why vlogwrap - YouTube Bitcoin Kid - YouTube Alpaca Bitcoin Sock Review - Hiking / Survival Socks from Grass Hill Alpacas Max Min - Alpaca Socks (Official Music Video)

You can buy Alpaca socks with BTC. Bitcoin Price. The question of Bitcoin use being justified always pops up when speaking of cryptocurrency. We have some answers for you on this. See, in some cases, Bitcoin is still a much more efficient and cheap way to transfer funds. Cryptocurrency is often used as a means of international value transfers. We already knew that Bitcoin and alpacas had a special “connection” since we published this article, where we suggested that you spend your digital currency buying super comfy alpaca socks. However, there’s much more to this story, since alpacas are being considered the unofficial mascot of the cryptocurrency world.. If you never saw an alpaca, we can tell you it looks a lot like a llama He cited how those who bought Alpaca socks using Bitcoin would regret, noting the price increase, and would have preferred sitting on it rather than spend it. A sample pool survey was recently conducted to know who had won the bet – gauging how many Americans currently use Bitcoin for everyday online purchases. However, even then bitcoin was undergoing massive price fluctuations. He began in 2011 by charging 75 bitcoin for each pair of socks, but had to lower the price to 5 by June owing to huge growth Alpaca Securities LLC is a member of Financial Industry Regulatory Authority, Inc. . You can check the background of Alpaca Securities on FINRA’s BrokerCheck. Alpaca Securities is also a member of SIPC - securities in your account are protected up to $500,000. For details, please visit www.sipc.org.

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No, XRP WON'T Make You RICH! Here's Why

Ripple interviewed by Bitcoin Kid (and Alpaca Socks!) - Duration: 4 minutes, 19 seconds. Bitcoin Kid. 6 years ago; 1,179 views; Ripple interviewed during May 17-19, 2013 Bitcoin conference in San ... Now all I’ve got’s a Dogecoin rig and holes in my Alpaca socks I got them low down Bitcoin Blues I’m cryin Hear the low down Bitcoin news I ain’t lying to you The Bitcoin Show - Episode 046 - The Alpaca Socks - GrassHillAlpacas.com - Duration: 47 minutes. vlogwrap. 915 views; 8 years ago; 1:00:19. The Bitcoin Show - Episode 045 - Duration: 1 hour. Price Down, Pick Up! by ZhouTonged. ... Bitcoin-Gotta Cash 'em All (Pokemon Parody) By Jason Paige-The Original Theme Singer ... Max Min - Alpaca Socks (Official Music Video) by Max Min. 3:27. Their Bitcoin, Ethereum & Etheruem classic funds have grown considerably over the past year. ... Bitcoin will crash 75% soon in 2020 before the 2021 BTC bull run can begin! price targets, TA ...

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