Bitcoin ATM maker announces plans to expand to U.S. and beyond

[phantom power]

The US startup Robocoin, after unveiling its first ATM in Vancouver last year, announced plans to begin operating a machine in Austin, Texas, on Thursday. It also plans to open one in Seattle, in Washington state, ahead of a wider global launch.

“We have completely removed the barriers for people to buy and sell Bitcoins,” Robocoin chief executive Jordan Kelley told AFP.

“You no longer have to wait days, you don’t have to provide your bank account.”

...

The Robocoin ATMs perform a biometric scan of each user’s palm, as well as take a facial photo, which is matched to the user’s government-issued identity card. The system also runs a check to determine if the user is a wanted criminal or terror suspect.

“We provide a profile of the customer that gives our operators full visibility and trackability,” Kelley said.

The first operational ATM in the United States started up Tuesday in a New Mexico cigar shop, according to manufacturer Lamassu Bitcoin Ventures.

Lamassu has some 200 orders around the world, and has opened Bitcoin ATMs in two Australian cities as well as one each in Helsinki, Berlin, Bratislava and Vancouver.

http://www.rawstory.com/rs/2014/02/19/bitcoin-atm-maker-announces-plans-to-expand-to-u-s-and-beyond/

[seattledo]

1. Palm scanning and pictures?

No wonder those Republicans support Bitcoin so much. There's already no privacy since the ledger is completely open, so I guess this was the only way they could make it even worse.

[TampaAnimusVortex]

9. This isn't a right or left issue - Bitcoin is just the beginning...

Blockchain technology will enable many other things, smart contracts, distributed autonomous organizations, and things we haven't even imagined yet.

I would highly recommend looking up information on Ethereum... A new technology that will open Pandora's box to global distributed applications. (Yes the kid looks and I think IS 19... but his group and technology just could change the world).

[phantom power]

23. It's kind of a shame that bitcoin got associated with the "it's like gold" meme

I realize that the original creators thought that was an idea they wanted to emphasize, but now it's been pigeonholed as "this crackpot scheme for libertarian scammers" -- especially on liberal-oriented forums like this one.

And it doesn't actually have to be that way.

Another major mis-understanding with this particular story is, that Mt. Gox got robbed because they were short-circuiting the correct technology. They were using temporary transaction ids out of convenience+scalability, and it was those temporary-ids that were exploited by the thieves.

This theft in no way discredits the actual bit-coin tech. It discredits a stupid decision to hack around it.

[arcane1]

2. Why on Earth would I possibly want to be involved in this?

It surely doesn't sound like a preferable alternative to actual money.

[Tommy_Carcetti]

18. Come on. Unregulated, virtual money that exists with the very secure confines of your computer?

What could ever go wrong?

[MADem]

27. Sounds squirrely as hell to me, too.

Of course, I am an old fart so who knows, but I don't feel any urge to get on the bitcoin train. It smells like a ponzi scheme to me....

[tridim]

3. Lol

Libertarian ideals, aren't.

[longship]

4. 1636: these new tulip bulb ATMs are the latest thing.

Get in and preserve your investment.

[madinmaryland]

5. Can someone explain what the hell "bitcoin" is?

[joeglow3]

6. Something quickly disappearing into history.

[TampaAnimusVortex]

7. I heard that same thing 6 months ago...

Has it ended yet? Caused I'm getting tired of hearing people tell me it's almost dead...

[cemaphonic]

12. Too many true believers for it to truly die, however

the oldest and one-time largest (by far) exchange just went up in smoke, so it's definitely hobbled.

[joeglow3]

13. Materially, yes it is dead.

http://news.yahoo.com/collapse-exchange-spells-trouble-bitcoin-221052149.html;_ylt=A0SO8xzOJA1Tbx8A0v1XNyoA;_ylu=X3oDMTB0cjRuNXJwBHNlYwNzYwRjb2xvA2dxMQR2dGlkA1ZJUDM3NV8x

[TampaAnimusVortex]

15. hmmm. Someone should tell the market that then...

Looks like it recovered from $400 to $585 in a few hours. Sounds like a hell of a rate of a return for someone.

[joeglow3]

16. So were tulip bulbs in holland.

[TampaAnimusVortex]

17. And they were saying that last February also...

Exactly when is the end coming? Or are you just parroting quips you've heard about the internet on a topic you really have absolutely no understanding of?

I've seen countless people like you, yipping about it's imminent demise over the last few years... somehow the end never actually seems to come.

[LynneSin]

20. And Beanie Babies in the 90s

Just because something is worth alot of money doesn't mean it is. You have to find someone willing to pay you for it.

[TampaAnimusVortex]

21. See post 9 - get educated and come back...

You obviously have no clue about what your talking about.

[LynneSin]

24. Oh I have alot of clue what I'm talking about. Rolling Stone Magazine had some great articles.

There's an old adage - a fool and his/her money is soon parted and to me that applies to bitcoin technology. Have people gotten rich off of it - sure they have. People also got rich off of selling kitchen knives thru a Pyramid scheme but usually only those people at the top of the pyramid who invested first. Everyone else ended up losing money and have a couple dozen sets of kitchen knives in storage that no one wanted to buy.

I'm not saying that our government and bank is perfect when it comes to our money, but at least there is someone who is can be held accountable should the currency market have issues.

Bitcoin technology means I have to take a serious leap of faith that if I invest in these bitcoins that somehow hold their value and I'm relying on unregulated technology that could just disappear into thin air - kinda like what MtGox has done. (it's all in the news today or do you not have a clue with what is happening now or just get back to me when you read about it). I could just mine for my own bitcoins but what I read is that to do the mining I'd have to invest in about $3k-$5k worth of computer technology just to have the ability to mine these coins. Those kitchen knives are looking like a better investment if you ask me.

What is worse is how bitcoin is tied in so very closely with the underbelly of the internet and criminal activity. The type of internet that can only be accessed thru special browsers where users can use the Silk Road website (or new versions popping up since I think Silk Road was closed) to buy illegal drugs, guns or even a hitman. The fact that bitcoins are the currency of choice on the black market and criminal world is probably why the value of the bitcoins are holding up right now. But what happens when access to that kind of criminal activity is cracked down on by the government? You think bitcoin values are going to hold up for Amazon, Ebay and Zappos shoppers?

My parents taught me young about avoiding 'get rich' schemes because what seems all hopeful and promising up front usually has a dark and despairing side underneath.

So please make sure you read more about the dark side of bitcoins since clearly you don't have a clue either.

Or better yet don't assume shit!

[TampaAnimusVortex]

32. Rolling stone! LOL!

Your quoting some ancient paper stoner rag as an authoritative source on a cutting edge 21st century crypto-currency?

Do you know what the blockchain is?
Do you know what transaction malleability is?
How about the basics on transaction confirmation and how the double spending problem is handled?
What is it the miners are actually calculating?
How do ASICs affect this?
What is a "Proof of work" system?
What is "Ethereum" and how will it change the blockchain technology going forward?

See... you really don't know - because if you did, you would understand why Bitcoin is so hyper-resilient as well as the fact it enables future technologies your little "Rolling Stone" folk just couldn't even begin to imagine. Your living in 2014 with a mindset from 1980s or worse. I would suggest adapting, but it doesn't matter if you do or not, the world will change regardless. Digital currency IS coming rather you like it or not, to support a digital age. Just wait until you see the autonomous decentralized organizations! Those are really going to cook your noggin.

[LynneSin]

33. So if I answer all those questions I get a star or something

I've seen posters like you before who think somehow they'll win a game if they can manage to outsmart another poster. I find your questions offensive - assuming other DUers are uneducated. I'm sure you'll have some snarky reply that will make you walk away thinking you know more than me.

Rolling Stone magazine has some amazing writers (well had - Matt Tabini got snagged for a new news website) but I suppose since the articles go against what you are trying to convince yourself then it's schlock journalism.

Hey it's your money if you want to waste it on unregulated currency tied into a black market industry have a field day. I'm guessing you haven't been reading about the issues with Mt Gox or how the CEO of another Bitcoin exchange similiar to Mt Gox was busted for money laundering. I'm guessing reading mainstream articles from sources like Rolling Stone, CNN Money, Wall Street Journey or listening to financial experts from top universities are too 1980s for you if you have some blogger out there raving the joys of bitcoin then go with them instead.

But in the end bitcoins are nothing more than a pyramid scheme and there are better investments than this, at least for my money!

[TampaAnimusVortex]

36. Man... you just buy into all that main stream media stuff don't ya?

The mainstream media was talking about the death of bitcoin back when silk road went under... yet they were wrong.
The talked about it's destruction after the peak of $1200... yet they were wrong.
The barked about how it was doomed after Mnt Gox went under... yet they were wrong.
You should learn to think for yourself instead of listening to mainstream media pundits. Actually learn how the technology works and you'll know when they are blowing smoke at you... like they are now.

It's not a pyramid scheme... pyramid schemes presuppose a person at the top where the benefit trickles up to... there is no such person here, as anyone who understand the technology can see. It's a distributed database with code that anyone can read. There are no secrets. It's crystal clear for anyone with the understanding to see. You on the other hand don't possess this understanding - which is why your natural instinct is fear. It's why you rely on others to tell you what to think. Someone else told you it was a pyramid scheme and here you are parroting it back as if you have some knowledge to impart.

Oh, and as far as investments... I got in at $30 per coin last February, so now its at almost $600... so you tell me where you have a better rate of return. I did this because I knew the potential when I saw it.

[LynneSin]

38. Whatever

You have $600 per coin - is that paper value or did you trade in the coins for cash.

On paper my Princess Diana Beanie Babie was once valued at $400 USD but now I'd be lucky if I could get $5 for her. It is a pyramid scheme but you're so excited about the paper value of some bitcoins that you won't see beyond your nose. But from the looks of other posters here at DU main who scoff at mainstream media and are at the cutting edge of technology - even those people are rejecting bitcoins.

It's a pyramid scheme. Have you even questioned yourself why the one CEO from that bitcoin exchange was charged with money laundering? Think about it. They need low fruit hangers like us to put our hard earn cash into the bitcoin system so they can funnel it out to the higher ups. Pyramid scheme - nuff said.

Have fun replying. I don't really care anymore what you reply because you're so proud of your beanie babies and pogs, I mean bitcoins.

[TampaAnimusVortex]

41. Name the person at the top of the pyramid...

You cant.. and we both know it.

And that $600 is cash value at the push of a button, right into my bank account.

Enjoy that 2% CD you have... and as the months and years drag on, you'll be reminded every day how bitcoin wont die, and how you just couldn't see it because you hadn't been programmed to see it by your handlers.

[LynneSin]

45. Sorry I don't really track the top scores in blackmarket business and money laundering

When Bernie Madoff was scamming people for billions did we know who was on top of that pyramid? When Jordan Belfort was scamming people selling junk bonds did we know who was at the top of the pyramid?

No - we don't know because we're too razzle dazzle by all the big words and fancy terminology of the fact that somewhere on paper you have $600. If I had $600 of of it I'd cash it in because right now there is one exchange site down and another under investigation. I do hope you get your original investment back.

And the nice thing about those 2% CDs is even if it is 2% it's safe and it keeps growing and I don't go to sleep at night hoping that there will be somewhere I can cash that money if I needed it for an emergency.

[TampaAnimusVortex]

46. Oh, Im already safe...

I already pulled my original investment cash out... and then some. Paid off some credit cards even.

Mnt Gox was based out of Japan, where they have slightly different regulations... I tend to favor Bitstamp, which is US based and has much higher transparency, security, and is more regulated. I pay my taxes on my gains and everyone is happy.

But let me tell you, there is no person at the top... Bitcoin code is transparent... you can download it yourself and read it if your a programmer. Bitcoin is a giant public ledger that's distributed over thousands of computers all over the world where everyone can see all the transactions. That's it... No magic. It's not inherently evil or good... its just a tool, like a hammer. It can be used for good or evil. it's not left or right, liberal or conservative. It's just code.

The utility of it is that it enables you to send money anywhere in the world friction free, meaning you don't have to pay Visa, or Western Union, or Paypal that 2% or 3% charge for moving the money. THAT is why it will win... Because it saves money, and people like saving money, so its just a matter of time before it trickles into the culture - just like Paypal did. Yes, it's a currency too - but that's a secondary consequence to it being a payment system.

[LynneSin]

48. You do know what a pyramid scheme is don't you?

We don't know who is at top BECAUSE THEY ARE ILLEGAL!!!!

I'm glad your money is safe but just remember this a fool and his/her money are soon parted. Enjoy the winfall but don't let the razzle dazzle of the terminology fool you because that's what it is. You spew off a bunch of terms and they are nothing more then ways to lure in buyers who think they are getting something valuable. And if you repeat it enough times you might actually start to believe it.

I took my mother gambling once - her only time ever in a casino. I was kinda shocked because she's not the type of person to go to things like casinos. But we drove by one here in my state and her and my step dad wanted to see what one was like so I took them in. My step dad inserted a $10 bill into a machine and we watched him play a few rounds on the slots - he won a bit and lost a bit. My mother, who always seems to carry about $52 in change at any given time in her purse, pulled out some quarters and tried herself. Third pull of the lever and she won around $35. She was tickled pink.

I hit the cash out button and told her she was done. She was lucky but that high of a quick win is what turns people from casual users into addicts. She was fine with that too and used her $35 winnings to treat us for lunch at Panera.

What I'm saying is enjoy the wealth and have fun with the technology but don't go blowing your entire life savings on it.

[TampaAnimusVortex]

50. No, my point is that there is no "TOP"

There is no one at the top for the money to get funneled to. If you don't believe me, just look at the code yourself. It's right there... You can do one Google search for it, go download the code and look at it. It would be like me giving an accounting ledger to an accountant... it's all there in black and white, except you can fake accounting books. It's theoretically impossible to fake bitcoin transactions currently (in general).

And it's not a gamble... Bitcoin will grow. This is what I meant about understanding the technology and it's nature. It uses the same underlying technology as the distributed file sharing Bittorrent sites which share music, movies, and programs - and governments have been trying to kill that for years, unsuccessfully. In the case of Bitcoin, governments are actually embracing it - with a senate panel giving it a rather positive response the tail end of last year.

Don't believe all the hype your reading in the papers and the web. They are out to shock and sell. A good example was Yahoo finance who ignored Bitcoin almost entirely last year and then yesterday when Gox imploded they ran that story front page ALL day! Does that seem fair and balanced to you? Does that tell the real story of all the businesses that were created as infrastructure for Bitcoin and all those that started to accept it? What about those that saved money by using it? No... it doesn't tell the whole story. Lopsided hysteria is all it was. Gox was one exchange out of dozens... it's a good thing they went down as they were the last of the original schlock exchanges. Whats left are the 2nd generation, evolved, regulated exchanges.

[cemaphonic]

52. How do you know the media is wrong about the MtGox fallout?

It happened yesterday - it may rebound, it may plateau at the current level, it might crater. But you don't know for sure any more than the media does, so claiming "they were wrong" is a prediction, not a fact. And that's just the commodity/day trading side of things. The Gox failure and negative media attention is definitely an obstacle to any kind of mainstream acceptance.

As for your investments, yeah it's perfectly possible to make money in a speculative bubble - that's what makes them attractive. But other people bought at the $1200 mark, and they've lost half of their investment. And all the people that had investments at Gox lost everyting no matter what the nominal usd/bitcoin conversion is. The pog and beanie baby analogy (not to mention tulips) are spot-on. Those offered insane rates of return compared to conventional investments too. Until they went out of fashion and became worthless.

[cemaphonic]

51. I'll play

1)14gb and growing, leading to serious scalability problems, should the (non-speculative) bitcoin economy ever grow beyond drugs, and the occasional retail business

2) A flaw in the protocol that led to magic the gathering online exchange being robbed blind. Apparently, the other exchanges have hacked around it, but a security flaw intrinsic to an unregulated payment system is just asking to be exploited.

3) No, and I don't know how Visa handles their internal accounting either. However, I do know that if there is a problem with my credit card, there are safeguards in place to protect my money.

4) They're verifying the transactions. This costs electricity and thus money, which makes the bitcoin pitch of low/no-cost transactions rather hollow. Also, slow compared to services like credit/debit cards or PayPal.

5) Related to 4. Goddamn waste of electricity to reinvent the wheel.

6) Don't care

7) If it's being promoted by a bitcoin true-believer, some combination of vaporware and fraud.

Also, Digital currency? Already here. Cash accounts for under 10% of transactions these days, everything else is accounts on computers. Bitcoin is like the Wright brothers cobbling together airplanes that don't go very far and crash frequently preaching the good news of the coming days of aviation to a society that has had jet travel for decades. Only with a lot more fraud.

[TampaAnimusVortex]

53. Yawn...

1) https://en.bitcoin.it/wiki/Scalability

2) There was no "flaw"... there was an agreement within the development community on how to represent values in transactions, which Gox had a year to upgrade their code and neglected to do.

3) So no... you don't understand how bitcoin works then.

4) http://bitcoinmagazine.com/5474/solving-the-slow-inperson-transaction-problem/

5) Again, showing a complete lack of understanding...

6) And why should you... it would be like a mechanic caring about the intricacies of brain surgery.

7) Obviously... you don't understand and are confused... I get it.

I see the pattern here... Good attempt. Come back later and play again.

[joeglow3]

55. What can I invest my bit coins in?

Seriously, my wife and I spend way below our means and invest about 40% of what we make. We invest in education savings accounts for our kids high school, in 529 plans for college, in our 401(k) for retirement and excess cash in vanguard index funds for future big ticket purchases (ie a car). If bitcoin is not an "investment" on par with tulip bulbs, what do I do with my savings that are in bitcoins?

[TampaAnimusVortex]

56. Investing in bitcoins is investing in the utility of the underlying technology...

Sure it's a deflationary currency (meaning it will gain value, all things being equal)... and that's fine and dandy. But where it really shines is it's a payment network.

Investing in bitcoin is like buying shares of Paypal or Western Union.... but theres more, far more...

http://www.fool.com/investing/general/2014/02/08/3-game-changing-uses-for-bitcoin-that-have-nothing.aspx

[joeglow3]

57. I am not questioning uses for the technology behind it

Last edited Thu Feb 27, 2014, 12:30 PM - Edit history (1)

I am questioning bitcoin as a currency. It really is nothing more than a payment system. Many people are buying into it, seeing it as nothing more than an investment, in and of itself. Even if it stabilizes and is used by more people, it is something that will really just rise and fall with the rate of inflation. As such, it is nothing more than a payment system. It offers nothing to me as an investment vehicle to park my long term investments.


Edit to add: you appear to view currency as a means to buy stuff. While that is a necessary component of a currency, I view an equally important role is as a vehicle to facilitate investments. Bitcoin simply cannot do the latter.

[TampaAnimusVortex]

58. You are correct somewhat...

As an investment, I think it still has plenty of upside. Yes, it will eventually peak and rise and fall with the rate of inflation somewhat, except "where" is the question.

Here are some projections (old chart - and it's already went above the $966 value before, as I suspect it will again):



Also, keep in mind that some bitcoins will be lost over time, adding to the deflationary effect, making the remaining ones worth more. So it's not quite so simple.

I'm not sure how it cant facilitate investments anymore then normal currencies... You can already purchase gold, houses, cars, with bitcoin, and pretty soon bitcoin will be listed on Forex among the other currencies, so as adoption grows and you choices expand on the ability to purchase more and more items, that excuse also falls by the wayside. Bitcoins will also soon be available in funds that can be included into normal IRAs or 401ks and then it REALLY will take off... You can scoff and discount what I'm saying or do a couple of Google searches and see for yourself. It's coming.

[MADem]

28. Well, ENRON stock was all over the page too, before it finally crapped the bed!

And it was being propped up left and right by "Nothing to worry about" touters...

[TampaAnimusVortex]

31. Yawn... this is a normal day for bitcoin... it dies all the time apparently.

I'm getting tired of it being the end every other day. Wake me up when it actually gets there...

[MineralMan]

35. Yah, well, you seem awfully interested in defending it in this thread.

Good luck with your endeavors.

[MADem]

54. Wake yourself up...I'm not touching that stuff with a ten foot pole!

As I said, it stinks like a Ponzi scheme to me.

If you like it, run with it. Don't wake me up if you need a loan, though!

[zappaman]

8. I want no part of this.

Are there any pros to bit coins?

[cemaphonic]

11. #1 pro to bitcoins:

Schadenfreude over libertarian true-believers continually getting swindled, but doubling down each time because "fiat money is evil/unsound" and "I burned out a few graphics cards running some software back in 2011, so I, the brilliant early-adopter, deserve to be rich."

Oh, and Dogecoins - bitcoin parody, but with dogs.

[sagat]

14. Yes.

[Tommy_Carcetti]

10. The face of Bitcoin:

[LynneSin]

19. Maybe they should hold off on that for awhile......

http://money.cnn.com/2014/02/25/technology/security/mtgox-bitcoin/

Mt.Gox site disappears, Bitcoin future in doubt

What was once the world's largest trading platform for bitcoins is now a blank page.

The Bitcoin-trading website Mt.Gox was taken offline late Monday, putting at risk millions of dollars put there by investors who gambled on the digital currency. The exchange also deleted all of its tweets, and Mt.Gox CEO Mark Karpeles resigned from the Bitcoin Foundation's board of directors on Sunday.

The news frightened Bitcoin investors elsewhere, knocking the price down about 3% to $490 -- its lowest level since November.
For now, there's no telling what's behind the shutdown. Mt.Gox did not respond to requests for comment.

However, an unverified document called "Crisis Strategy Draft" that is being circulated online claims Mt.Gox has lost 744,408 of its users' bitcoins, worth nearly $367 million. It also claims Mt.Gox is planning to rebrand itself as Gox.

It's Beanie Babies for the modern age. Of course these things have value - you have have to find someone dumb enough to give you the money for what you think it's worth.

[Skidmore]

22. So this guy is the new Bernie Madoff?

[LynneSin]

25. I was thinking of that when I wrote my last post (scroll up)

In the end I used a pyramid scheme selling kitchen knives - someone always gets rich but it's usually not the people at the bottom of the pyramid.

[MineralMan]

26. I suggest they work on their data security and other issues

first. Really.

[phantom power]

29. Mt. Gox made a giant blunder when they decided to sidestep the proper blockchain tech

"Doing it right is causing us scalability problems, so we'll introduce a shortcut hack"

Big surprise, it was their hack that was exploited by the thieves. It's a shame, since they basically gave the whole project a huge black eye.

[MineralMan]

30. You're probably right.

It's not an issue for me, anyhow. I rejected bitcoin from its beginning.

[LynneSin]

34. I see this as nothing more than a giant pyramind scheme

They need peons like us to be buying bitcoins in hope to prop up the returns for the people at the top of the pyramid. And since bitcoin technology is popular for black market dealers and money launderers, they need people to be putting their dollars into bitcoins so they can convert their bitcoins back into currency.

[MineralMan]

37. Libertarians and Linux afficianados love bitcoin.

It's all underground and free, see. Open source and all that. The real smart folks understand that, and are staking their future on it. I wish them good fortune as they go on their way.

Never mind that the actual sources of bitcoin have their roots in black market activities, many of which do harm to people. Never mind that your bitcoin stash is vulnerable to theft by those same black marketeers and others who are involved in this libertarian fantasy. It's all good, the naive will say.

Money for nothing and your chicks for free, as you bang on the drum all day. What could be better, after all?

[LynneSin]

39. Well I was just yelled at by another poster for reading Mainstream media

where they reported the issues with one bitcoin exchange going down (Mt Gox) and the CEO of another bitcoin exchange being charged with money laundering.

I'm pretty tech savvy but I'm not about to crawl into bed with money launderings, blackmarketeers and other dangerous criminals looking to use my investments into bitcoins as their way of laundering their dirty money.

[MineralMan]

43. But, see, Libertarians believe that their systems are

self-regulating. Bitcoin is a libertarian system. That it is being exploited by criminals and others of that ilk is irrelevant. The system will self-regulate. That's a given in libertarian thinking. There's no need for authoritarian regulation, since the system always self-regulates.

Or so the concept goes. Mt. Gox went down because the system wasn't up to the challenges, so the clever folks there bypassed the system to make it more capable. In so doing, they opened an avenue for bitcoin to disappear into a void or to be stolen by some of the equally clever criminals out there. The self-regulation stopped working, because some folks were able to, and did, compromize the system for convenience's sake.

That's not comforting for the simple user of this quasi-monetary system. Such incidents can quickly lead to a failure of confidence, and hence a run on the bank, so to speak. And, unlike government backed currencies, there is no backing for bitcoin. It exists only as data. If the data isn't available, the money doesn't exist.

Libertarians are trusting sorts of folks, except for the ones who are nipping away at the resources. But, hey, the system will self-regulate in the end, and bitcoin will find its true value in the end. That's the system.

[TampaAnimusVortex]

40. Digital currency is apolitical - its a tool, neither right nor left.

I'm not sure who told you that story line, but you shouldn't believe them.

Bitcoin rest on blockchain technology that will enable FAR more then just bitcoin in the next few years. Smart property, smart contracts, distributed autonomous organizations.

If your plan is for the left to run away from digital technologies, then your going to look like one serious luddite in the very near future. You don't want to sound like grandpa talking about how the internet is good for nothing but pushing pictures of naked women around...

I would suggest you watch the video linked in post 9 for a glimmer of whats coming...

[MineralMan]

42. Here's what I think:

I think you don't know as much as you pretend to know. I'm far from a luddite, despite my age.

Bitcoin is apolitical and also amoral. It is its amoral nature that will be its downfall, and that is becoming evident right now. Its use to facilitate an underground, unregulated marketplace that operates (it supposes) privately, is what makes bitcoin an iffy proposition. Its libertarian, autonomous nature leaves it open to abuse and makes it less than secure.

I suggest you pay closer attention to the marketplace in which bitcoin is most widely used. That marketplace is no longer anonymous, nor is it any longer unobservable. Bitcoin is part of the economic system that operates in what was at one time a secure environment. It is not that any longer.

I further suggest that you convert whatever bitcoin you might hold into a currency backed by a government. I wouldn't delay in doing this.

You don't know me. You don't know what I do and do not know. I don't know you, either, but I can guess what you do not know or are willing to ignore for some reason.

As I said, good luck in your ventures.

[TampaAnimusVortex]

44. FUD - (Fear Uncertainty and Doubt)

http://www.coindesk.com/cash-invented-seen-media-today/

As I said... watch the video on Ethereum and understand where the world is going in 20 years, and youll understand Bitcoin is just a ripple compared to the tidal wave coming our way.

[MineralMan]

47. Ah...have a pleasant day for yourself.

I'm finished with this parody of a discussion.

[jsr]

49. Next they'll want your Social Security number and Google account password

and bank routing number.

For quality assurance purposes, of course.

[L0oniX]

59. Arrrrr ...gather to me