Your currency union might be screwed if...



  • ...Bitcoin is starting to look like a better place to put your money:
    @Financial Post said:

    “European volume has been skyrocketing,” said Charlie Shrem, chief executive of BitInstant LLC, a company in New York that enables clients to transfer funds between Bitcoin and U.S. and Canadian dollars, British pounds, euros and other major currencies.

    OK, so they don't give any indication of just what "skyrocketing" means, but still...WTF?



  • It's obvious to me that Charlie is saying the European volume is rising extremely quickly. If you're still unsure about what "skyrocket" means, ask Barfy Hussein Oblong about electricity rates in the USA.



  • @Financial Post said:

    “European volume has been skyrocketing,” said Charlie Shrem, chief executive of BitInstant LLC, a company in New York that enables clients to transfer funds between Bitcoin and U.S. and Canadian dollars, British pounds, euros and other major currencies.

    Man who makes money from BitCoin users encourages people to use BitCoin.



    Also his name sounds a lot like Charlie Sheen, and we all know how crazy he is. Would you trust Charlie Sheen with your money?



  • @SilentRunner said:

    It's obvious to me that Charlie is saying the European volume is rising extremely quickly. If you're still unsure about what "skyrocket" means, ask Barfy Hussein Oblong about electricity rates in the USA.

    Well, no thanks to him, they're actually decreasing in many places due to the price of natural gas.



  • @boomzilla said:

    OK, so they don't give any indication of just what "skyrocketing" means

    $5 last month. $10 this month. DOUBLING EVERY MONTH!



  • If I wanted money that "skyrockets" I'd buy Facebook stock. I prefer stable, TYVM.

    Didn't we have the BitCoint discussion before? I'm still not convinced it's not total crap.



  •  Problem with skyrockets is that they tend to explode.



  • Or they land on the moon. How do you intend to retrieve your money from the surface of the moon, hmm?



  • @topspin said:

    Didn't we have the BitCoint discussion before? I'm still not convinced it's not total crap.

     

     

    +1 for that. I don't know anyone using bitcoin and every time I see articles like this you'd think you were the only one in the world not cashing in your state-guaranteed savings for pixel art.

    If it was cool, the Chinese would have taken over by now.

     



  • @topspin said:

    Didn't we have the BitCoint discussion before? I'm still not convinced it's not total crap
    I remeber watching a conference talk (from either defcon, or blackhat) that covered bitCoin, the two things i remember from that talk are:

    1) The BitCoin design was massively over complicated in an attempt to provide anonymity to the transactions. They failed epically; anonymity can be broken in easilly and bit coin is needlessly complex because of it.

    2) The BitCoin source does supprisingly well in source audits! The speaker mentioned that this is particually impressive since it is written in (IIRC) C, and displays none of the exploits common to C code, specifically the speaker had a list of likely exploits and was sure he would check off a portion of the list, but didn't find any.


    The talk didn't really cover its suitability as a currency, and i sure don't know enough to judge its suitability.

    (I think the talk was actually about tor, but there was a sizeable tangent on bitcoin.)



  • @topspin said:

    If I wanted money that "skyrockets" I'd buy Facebook stock.
     

    A rocket plummeting back to earth after burning up all its fuel is still in the sky for a while, therefore "skyrocket" is a valid description of Facebook's stock trajectory.

    BitCoin remains a currency that's only useful if you are selling drugs and buying child porn, or vice versa.

     

     



  •  SKYROCKET AND THE WORLD OF TOMORROW


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