Dennis Gartman calls bitcoin a 'silly' idea, warns it will eventually crash under $5000

"I'm very bearish on bitcoin, I think it's one of the silliest ideas I've heard in a long time," he said. "To be separated from the brilliance of the block chain, [makes even] tulips in [17th]century Holland look almost like a quiet, well-demeanored market," Gartman said, using a frequently invoked analogy of the …
Google Alert – bitcoin

Greenspan compares bitcoin to Colonial America currency that eventually became worthless

Former Federal Reserve Chairman Alan Greenspan told CNBC on Wednesday that bitcoin reminds him of currency issued during America's Colonial past that ultimately proved worthless. Greenspan compared the high-flying cryptocurrency to 1775 Continental currency that was worthless by 1782.
Google Alert – bitcoin

A few centuries ago, China banned a major decentralized system that was used for peer-to-peer international transactions (maritime trading). The ban (海禁) has reduced the international influence of China, and made China so weak that European countries eventually colonized it.

A few centuries ago, China banned a major decentralized system that was used for peer-to-peer international transactions (maritime trading). The ban (海禁) has reduced the international influence of China, and made China so weak that European countries eventually colonized it. submitted by /u/themetalfriend
[link] [comments]

Bitcoin

Many BU supporters seem completely unaware that BU requires eventually removing the 21 million supply cap.

Peter Rizun (head BU dev):

"To have a fee market with no block size limit you need Bitcoin's inflation rate to be nonzero"

http://np.reddit.com/r/btc/comments/61a4uk/to_have_a_fee_market_with_no_block_size_limite/

"I don't believe a fixed supply is a central property of Bitcoin."

https://i.supload.com/r1pdI_mDg.jpg

Roger Ver has also said that he is okay with the risk of bitcoin becoming paypal 2.0

I think if this was more widely known there would be much less support.

submitted by /u/Belfrey
[link] [comments]
Bitcoin

PSA: If your bitcoin is stored on a website, it will eventually be hacked. Protect yourself by using one of these real bitcoin wallets →

Security is simply never perfect. Any amount of bitcoin you trust to humans can ultimately be lost – whether through accident, theft, fraud, or bankruptcy.

If you've invested time or money into purchasing bitcoin, it may be wise to invest some time into understanding it more deeply. Bitcoin is somewhat unlike other currencies – it is most safely held in a true bitcoin wallet, rather than on a website.

While it can be comforting to think, "I keep my bitcoin with Company", in reality, you're simply adding your money to an already large jackpot for hackers. No company is immune, and the bigger the target, the more complex hacking attempts can get. For large enough prizes, hackers have gotten themselves hired into the security and critical infrastructure teams at many large institutions – sometimes over the course of years.

Using a real wallet doesn't have to be hard – try one of these popular open-source apps:

Shameless plug – I personally use and have contributed to Copay (both as an individual and through my employment with BitPay). I prefer it because I'm able to secure my money across several phones and desktops – protecting me from loss even if several of my devices are lost, stolen, or hacked.

For even more options, check out Choose Your Wallet on bitcoin.org.

If you're interested in spending bitcoin regularly, here is list of wallets which is maintained by BitPay, sorted by the payment standards they support: Bitcoin Wallet Comparison – Standards Support

Edit:

Tried to keep it short, but looking at the comments, it sounds like the Electrum wallet is also quite popular. Just added it to the list.

submitted by /u/bitjson
[link] [comments]
Bitcoin