Comments on: What Ever Happened to Bitcoin?

By: platypus

platypus — Sat, 20 Dec 2014 14:32:56 +0000

No matter how far down it goes, the company still owns hard assets. Not so for the wisp called bitecoin.

By: Chuck Skinner

Chuck Skinner — Sat, 20 Dec 2014 06:16:13 +0000

If you’re treating Bitcoin as an investment, you’re using it wrong. I would not have recommended it as an investment to anyone with a risk tolerance less than “Speculative.” I would never, ever have advised a person to HOLD Bitcoins. You buy them, then use them for a transaction, then convert them into another currency or asset IMMEDIATELY.

But, what Bitcoin IS good for is masking transactions and creating secure end-to-end financial deals where the buyer and seller have no direct contact, and cannot otherwise be connected to each other. The “Security” of being able to be anonymous.

Silk Road (I & II) were a big driver of Bitcoin, but they were not the only shadow marketplaces out there.

By: InEssence

InEssence — Sat, 20 Dec 2014 01:15:09 +0000

The story missed the problem. The demand for Bitcoins dropped because Silk Road I and Silk Road II were taken out. Illegal activity isn’t the only demand for Bitcoin, but it is part of it.

By: MSO

MSO — Sat, 20 Dec 2014 00:05:09 +0000

?John Boehner?
Nancy Pelosi?
Barrack Obama?

By: n.n

n.n — Fri, 19 Dec 2014 19:10:47 +0000

Backed by the full faith and credit of …

By: Not A Member of Any Organized Political

Not A Member of Any Organized Political — Fri, 19 Dec 2014 18:40:16 +0000

Has North Korea hacked them yet?

By: ThomasD

ThomasD — Fri, 19 Dec 2014 17:28:50 +0000

Yes, Bitcoin (and all other cryptocurrencies) are a technology and a protocol.

But minting and coinage are also based upon technologies and protocols, it is just that they are not electronic.

By: Casey Breznick

Casey Breznick — Fri, 19 Dec 2014 16:12:28 +0000

BittBurger2, I agree there is great and growing potential for Bitcoin. However, you cant disregard financial markets. Markets are the one source where all information about something is aggregated and debated on a continuous basis–the by-product of which is a price. Indeed, it is foolish to think bitcoin investors (or speculators) aren’t factoring into the $316 price the facts you have cited. Perhaps soon others will come along and believe, given the facts you cited, bitcoin is worth more. Perhaps others don’t, and they will continue to short bitcoin.

By: BittBurger2

BittBurger2 — Fri, 19 Dec 2014 15:58:19 +0000

The misconception that the “market price” is Bitcoin, has been overstated ad nauseum. Bitcoin is a technology and a protocol that can be built on top of. The market is nothing more than traders and speculators trying to “buy a share” of this technology and make money. The price of Bitcoin could drop to $1 tomorrow and it wouldn’t mean a *THING* for the longevity or health of the protocol. Journalists need to start focusing on the use-cases and the infrastructure that is going up right now. When that begins to decline, then Bitcoin begins to decline. As it stands, Microsoft has announced “global plans” for incorporating this technology into many facets of many industries. Hundreds of millions have been poured into VC funding, and literally hundreds of startups are underway to begin building an ecosystem around this new technology. Stop looking at the price of Bitcoin. The financial market is completely irrelevant to whats really happening out there.

By: daitken

daitken — Fri, 19 Dec 2014 15:45:03 +0000

There are worse performing investments – RIG, one of the large oil drillers, is down about 62%.

By: Valerie

Valerie — Fri, 19 Dec 2014 15:28:18 +0000

This is proof of concept.