Comments on: Waiting for bitcoin to get boring http://blogs.reuters.com/felix-salmon/2013/11/30/waiting-for-bitcoin-to-get-boring/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Andrew Pelt http://blogs.reuters.com/felix-salmon/2013/11/30/waiting-for-bitcoin-to-get-boring/comment-page-1/#comment-55089 Tue, 14 Oct 2014 13:11:30 +0000 https://blogs.reuters.com/felix-salmon/?p=22808#comment-55089 http://veltins.fapturbo.hop.clickbank.ne t/?param=fapturbo2

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By: Btc_Exchange http://blogs.reuters.com/felix-salmon/2013/11/30/waiting-for-bitcoin-to-get-boring/comment-page-1/#comment-48913 Mon, 30 Dec 2013 03:32:54 +0000 https://blogs.reuters.com/felix-salmon/?p=22808#comment-48913 Great article. Bitcoin should be approached prudently with an eye towards risk management. We comment on this and similar issues on our blog.

www.bitmorecoin.com – Quick and easy way to buy Bitcoin in the UK.

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By: TFF http://blogs.reuters.com/felix-salmon/2013/11/30/waiting-for-bitcoin-to-get-boring/comment-page-1/#comment-48770 Sat, 07 Dec 2013 21:34:17 +0000 https://blogs.reuters.com/felix-salmon/?p=22808#comment-48770 This boring enough for you?

“People who thought that bitcoins could serve as either an investment vehicle or an alternative world currency got their heads handed to them on Thursday and Friday. That’s when the price of the attention-grabbing crypto-currency got crushed, falling from a quoted $1,200 per “coin” to less than $600.”

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By: AlkalineState http://blogs.reuters.com/felix-salmon/2013/11/30/waiting-for-bitcoin-to-get-boring/comment-page-1/#comment-48743 Tue, 03 Dec 2013 23:56:31 +0000 https://blogs.reuters.com/felix-salmon/?p=22808#comment-48743 Bitchcoin now the preferred currency in prison showers and white-slave trade.

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By: BitcoinByte http://blogs.reuters.com/felix-salmon/2013/11/30/waiting-for-bitcoin-to-get-boring/comment-page-1/#comment-48724 Mon, 02 Dec 2013 00:29:15 +0000 https://blogs.reuters.com/felix-salmon/?p=22808#comment-48724 See comments on Reddit Bitcoin

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By: BitcoinByte http://blogs.reuters.com/felix-salmon/2013/11/30/waiting-for-bitcoin-to-get-boring/comment-page-1/#comment-48723 Mon, 02 Dec 2013 00:28:15 +0000 https://blogs.reuters.com/felix-salmon/?p=22808#comment-48723 See comments from the physical gold Bitcoin concept creator @BitcoinByte here:
http://www.reddit.com/r/Bitcoin/comments  /1rvfym/waiting_for_bitcoin_to_get_bori ng_felix_salmon/

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By: BitcoinByte http://blogs.reuters.com/felix-salmon/2013/11/30/waiting-for-bitcoin-to-get-boring/comment-page-1/#comment-48722 Sun, 01 Dec 2013 23:57:24 +0000 https://blogs.reuters.com/felix-salmon/?p=22808#comment-48722 The physical Bitcoin is not bonkers, as set out in the article, but then more information is needed about the concept. Let me explain…
The amount of bitcoins held as backing by the state that choses to issue commemorative Gold Bitcoins (the ‘Coins’) is always publicly verifiable from the Bitcoin address in the “blockchain” – the global ledger of all Bitcoin transactions and addresses (ie. ‘accounts’). In addition, Bitcoins used to back the Coins will always be held safely offline in so called ‘cold storage,’ thus out of reach of potential hackers and malware. The cold storage would be subject to regular independent audits.
Furthermore, as well as being a collectible item, the Coin provides the opportunity to hold bitcoins, without the attendant risk of holding the virtual Bitcoin in a wallet exposed to hackers etc. Yes there is instead the replacement risk of holding a physical coin of significant value. But at least it can be seen and touched at all times so one knows it is there. As humans, we seem to be more comfortable with that.

Now for the gold content: the gold provides reassurance to the Coin holder that should the price of Bitcoin ever collapse, or become zero, then at least the gold element remains. In a way it is like a collar on the value of the Coin. There is no cap on each Coin’s value; how high do you think Bitcoin will go to? The Coin also provides an opportunity to speculate on Bitcoin whilst having gold value in the Coin as a comfort.

And finally I can explain the role of the independent company that supplies the bitcoins to back the Coins. This company is only taking the Bitcoin price risk during the time window between the marketing of the Coins and receiving payment for the Coins to be minted (or possibly already minted in small numbers on the shelf). A matter of a few days I would say. This would only be done in very small Coin quantities at a time and the price of each batch of Coins would be set according to the prevailing Bitcoin market price.
I hope my explanatory notes help further understanding of the physical Bitcoin concept.

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By: 5atoshi http://blogs.reuters.com/felix-salmon/2013/11/30/waiting-for-bitcoin-to-get-boring/comment-page-1/#comment-48721 Sun, 01 Dec 2013 23:56:10 +0000 https://blogs.reuters.com/felix-salmon/?p=22808#comment-48721 Typo… your first chart up top is June 2011 not June 2010

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By: JollyJack http://blogs.reuters.com/felix-salmon/2013/11/30/waiting-for-bitcoin-to-get-boring/comment-page-1/#comment-48720 Sun, 01 Dec 2013 17:05:06 +0000 https://blogs.reuters.com/felix-salmon/?p=22808#comment-48720 bitcoin is evil. it’s a giant Ponsi scheme for the few who own the bulk of it, and there are no more than a dozen or so of them. If the world continues using it, you’re going to create trillioners, mostly from the mob, and give the World to them. No sane gov’t will allow it, so at some point bitcoin will be made illegal for sure.

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By: Bittercoin http://blogs.reuters.com/felix-salmon/2013/11/30/waiting-for-bitcoin-to-get-boring/comment-page-1/#comment-48719 Sun, 01 Dec 2013 16:27:31 +0000 https://blogs.reuters.com/felix-salmon/?p=22808#comment-48719 Maybe the bubble is burst because Bitcoin is total in freefall just look at the charts here http://btc-bitcoin.net/btc-charts/

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