Bitcoin Bubble or New Virtual Currency? naked capitalism

The Bitcoin ledger is not written like “Senator Smith spent .0001 BTC on August 21st, 2015 to buy a sex toy from Guangzhou,” but Wallet #Hash2# transferred .00017 BTC to wallet #Hash3# at UTC 13:43:12 21:11:2017 – or not even that: it’s encrypted. Who is #Hash2#? You can go back, but it will only say #Hash2# exists and was created on Time:Date. Who is #Hash3#? The ledger only says # ... Yves here. I've heretofore avoided the topic of Bitcoin, since I recall the brief fad of the Second Life currency, which then flamed out impressively. And Bitcoin already has had the US Treasury clear its throat and say if market participants try exchanging Bitcoin for dollars, it takes a dim view of that. Recall that the IRS threatened to tax frequent flier miles, but later dropped that idea. Kathleen T Smith says: Nov 26, 2018 at 10:37 pm You completely misunderstood what Andres was saying in that video. Good God — you don’t even understand what you are talking about. When a transaction happens on bitcoin it is put into a immutable block — what Andreas is saying is that it would take an insane amount of effort to create one fraudulent block, which would be exposed. The block ... Bitcoin's current volatility stems from the limited USD/EUD/JPY trading facilities. The primary (Mt.Gox- 80%) trading site was essentially closed today by a DDOS attack. They stopped accepting most new trades, those orders that were filled were all existing limit orders, which resulted in some very weird trading. With Bitcoin, you can order food and medicine on Amazon. Without it, you can’t. So a ferocious national government has attempted to halt Bitcoin at gunpoint from both the users and the vendors. Like other currency oppressions, the USD in Zimbabwe for example, it hasn’t worked. Bitcoin is suppressed, but when the need for commerce is high ...

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