BitShares Forum

Main => General Discussion => Topic started by: bluebit on September 16, 2014, 05:34:52 pm

Title: As Bitcoin is becoming more centralized, BTSX solves Bitcoin's problem
Post by: bluebit on September 16, 2014, 05:34:52 pm

This video was posted on Reddit today, explains why Bitcoin price isn't rising. I believe the time is getting very close in that we'll see a horde of Bitcoin users rushing into BTSX, enjoy

https://www.youtube.com/watch?v=_-TLA3j-ic4&feature=youtu.be&list=PL1zCD-urlm3iuJlUhq7Nwl5KuVXVShHKO

Title: Re: As Bitcoin is becoming more centralized, BTSX solves Bitcoin's problem
Post by: callmeluc on September 16, 2014, 05:36:58 pm

 +5%

Title: Re: As Bitcoin is becoming more centralized, BTSX solves Bitcoin's problem
Post by: xeroc on September 16, 2014, 05:56:50 pm

this is now the third thread about this
https://bitsharestalk.org/index.php?topic=8967.0

Title: Re: As Bitcoin is becoming more centralized, BTSX solves Bitcoin's problem
Post by: Riverhead on September 16, 2014, 07:00:14 pm

Glad it's getting some viewings :).

Title: Re: As Bitcoin is becoming more centralized, BTSX solves Bitcoin's problem
Post by: cass on September 16, 2014, 08:45:03 pm

3k views on one day ... not so bad  +5%

Title: Re: As Bitcoin is becoming more centralized, BTSX solves Bitcoin's problem
Post by: luckybit on September 17, 2014, 08:01:39 pm

How many Bitcoins were stolen in the MtGox heist? Was it enough that it could crash the price if the hackers involved were to start selling their stash?

Bitcoin might not be a good investment considering the unusual incentives combined with centralization of ownership of the Bitcoins themselves as well as hashing power.

Title: Re: As Bitcoin is becoming more centralized, BTSX solves Bitcoin's problem
Post by: James212 on September 17, 2014, 09:32:29 pm

Interesting note.  The Boston Federal Reserve, in an article today on Coindesk agreed with BitShares stating that Bitcoin Mining is flawed

http://www.coindesk.com/boston-fed-bitcoin-revolutionize-payments/        ....see section "mining process flawed" half way through the article

Title: Re: As Bitcoin is becoming more centralized, BTSX solves Bitcoin's problem
Post by: CoinHoarder on September 17, 2014, 11:36:05 pm

Quote from: luckybit on September 17, 2014, 08:01:39 pm

How many Bitcoins were stolen in the MtGox heist? Was it enough that it could crash the price if the hackers involved were to start selling their stash?

Bitcoin might not be a good investment considering the unusual incentives combined with centralization of ownership of the Bitcoins themselves as well as hashing power.

From memory, there was over 700,000 Bitcoins stolen/missing from Gox. I could be off on that though.

Title: Re: As Bitcoin is becoming more centralized, BTSX solves Bitcoin's problem
Post by: luckybit on September 18, 2014, 04:01:36 am

Quote from: CoinHoarder on September 17, 2014, 11:36:05 pm

Quote from: luckybit on September 17, 2014, 08:01:39 pm

How many Bitcoins were stolen in the MtGox heist? Was it enough that it could crash the price if the hackers involved were to start selling their stash?

Bitcoin might not be a good investment considering the unusual incentives combined with centralization of ownership of the Bitcoins themselves as well as hashing power.

From memory, there was over 700,000 Bitcoins stolen/missing from Gox. I could be off on that though.

Suppose they decide to sell it off slowly, for how long could it suppress the price?