What do people think about Bitcoin?

There will be bitcoin companies that fail.

But as far as I know, http and tcp/ip are still the same protocols.

A bitcoin on the blockchain is the equivalent of buying http packets, if that was possible

 

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Volatility has really dried up in bitcoin. Bollinger band width hasn't been this low in awhile which means there is likely a big move coming in the next week or two. If I am a betting man I would say lower since that is the trend. Just my quick thoughts.

 

People are waiting to see what happens with Greece and the Fed

 

Fundamentals are stronger than ever, getting closer to concensus on scaling alternatives for the long term..

It's been consolidating sideways and I wouldn't be surprised to see it do this for a while

Until world events occur which are the 'flip the switch' moment which are only continuing to pile up. Piling up faster than ever because the patchwork is going to fail

 

And in the end bankers and economy movers will only benefit from this falling out, because they are currently looking at how to take advantage of this new financial architecture.

Imagine engineering the mess and then sitting yourself atop again by implementing a whole new architecture based on tokens you've been accumulating on the cheap

All the while deluding the masses into thinking it's some sort of joke.. they will be the ones laughing running away with the private keys.

Jokes on the masses

 

They will wrest power at the same time ceding it to the unbanked..

The next gen revolutionaries will arise from these ppl who were previously isolated and financially subjugated

 

an interesting aside

 

would be interesting to know how many of the private keys to those top 102 addresses are lost

 

So about 16500 addresses control about 2/3rds of bitcoin today? And 102 have about 20%?

I did the math in my head sso I apologize if I'm off

 

the fun stat most people trot out of this is that about 1% of bitcoin addresses control 99% of all bitcoins

 

Wealth inequality is only about to get worse but for the first time it's something that allows p2p redistribution

 

The bitcoiner originals will probably change the world through their generosity.. the ideals from which this invention came forth

 

I read 30% of bitcoins are under zombie addresses from some estimates.

I did see bitcoin miner revenue is dropping even though transactions have been rising. How big of a problem is this?

 

Mining will always auto adjust based on factors.

They will go to China or Iceland and ASIC chips only get more efficient.

Then there is 21 Inc which is putting mining chips into household wall outlets and other appliances such as cell phones

The network keeps growing.. Miner revenues may have fallen but hash rates keep increasing

 

Mining + solar panels + tesla powerpacks

 

Speculation is those chips aren't intended primarily for mining, but for a networked hypercomputer that pays users in bitcoin for their idle processing power and/or bandwidth.

Lots of these exist today for things like cancer research, but there is no good way to pay them, so it's just volunteers.

Idle processing power, storage, and bandwidth are perhaps the largest untapped resource on the planet. It's a giant inefficiency.

Imagine you are away from your computer, you leave it on at night, and it's helping to solve some massive problem, and earning you bitcoin for doing so, while you sleep. I'm not sure what the additional electricity cost would be. But it certainly is intriguing.

 

Visa founder, former Citi chairman, and former sec of treasury now sit on the board of Xapo, a bitcoin storage vault