http://www.youtube.com/watch?v=XQqZ9b0S0BY

I don't know if I'm in a cult or if its the wine or what the deal is, but this video tears me up.

Wow that is rough. Bitcoin really needs completely dummy proof wallets. "Are you SURE you want to include a miner fee of $13,700?" "Are you REALLY SURE?" pop ups.

This also stresses the importance of having separate wallets for different levels of spending. Best to have <$500(or whatever you're comfortable losing if you lost your real wallet) in a spending account and a separate savings account you only use for really large purchases or to make transfers to and from your spending account.

Many words. Wow. Such wise.

Most wallet does this already. It was very likely a custom made client.

20% of daily volume is significant. A lot of daily trading volume is just bots going back and forth, especially at low/no fee platforms. That much actually cashing out does a lot, then they publicly announce they are doing it, so others sell to beat the rush.

As much of douches a lot of the dogecoin community is, keep pouring that salt in.

Exactly my thoughts.

Go bitcoin go!

+1

and TomCollins, you're way off imo,.. clearly margin calls on b1tfinex's longs (plus the other stuff)

has anyone used btcjam? if i were to invest my bitcoin there, what are my chances it would get stolen forever?

pretty high

isn't this a thing with brain wallets? which uses all the remaining btc available after the transaction as transaction fees

Bitcoin is a horrible horrible instrument to lend, avoid like the plague.

Is there a decent Web of Trust?

Running a .1 btc NFL Survivor Pool with a multi-sig wallet escrow.

http://forumserver.twoplustwo.com/46...-pool-1463304/

PM if interested.

That 13k in fees error was a raw transaction. They basically scripted the transaction themselves and botched it, sending all the surplus BTC as miner fee instead of back to his change address.

This won't happen sending from a mainstream wallet.

The miner that solved that block is one happy person though. Imagine not being in a pool and hit the jackpot that way.

You need a trigger to make all the margin calls happen. Margin calls don't happen when the price is stable.

Obviously margin calls play a factor in sudden crashes like this, though.

People need to understand that merchant adoption (except overstock) creates downward pressure on the bitcoin price. Whenever Dell, Newegg, Dish, etc. say they 'accept bitcoin' - all the old timers think, "Great, I need to support these guys" and spend a few coins there. Those coins would otherwise have not been sold, but are now sold via bitpay or coinbase as the merchant only wants USD, creating downward price pressure.

These companies see bitcoin as nothing more than a marketing gimmick, and would accept seashells or aluminum cans if there was a service that would accept those seashells and give them USD seamlessly.

It's pretty remarkable that the price has stayed around $500 given all this selling pressure and the daily influx of new coins, but lol at the 'XYZ accepts bitcoin, to the moon' - the opposite is more accurate.

Don't know how relevant this is but Dell just took their first ever 50k+ payment in Bitcoin

This. Anyone who gets excited about traditional merchant adoption just doesn't get it. The times I get excited about is when someone does something that couldn't be done before without Bitcoins, or something that actually gives an incentive for new people to get Bitcoins. Convincing early adopters to dump coins is only advantageous for those trying to acquire coins cheaply.

I agree that's you shouldn't get to excited about that. That being said I've had a few friends (who are not into bitcoin at all) say it needs to be accepted by more legimate merchants before they'll start using or looking at it. Also I would assume a good portion of the people that currently spend bitcoin immediately rebuy more after spending it.

They can say all they want about adopting, but they aren't going to do it even if 100 merchants they use adopt. This is like the same people who say its too expensive and won't adopt until it goes down in price, then when it does, they say it isn't worth anything and will wait for it to go up to buy, then complain it's too expensive. Their words don't mean ****. Having a few big name merchants adopt is nice, and Overstock covered that nicely. It's somewhat of a thing where it keeps people from saying "oh, the drug currency".

Sure, a small minority rebuy, and playing the Bitcoin Rube Goldberg machine of exchanging Bitcoins for fiat for services to turn fiat back into Bitcoins is idiotic. But there are no shortage of idiots in the Bitcoin space.

Another thing that constantly puts downward pressure on bitcoin is the miners. They have to pay their electricity bills and the lower the price the more coins they need to use to pay those bills which in turn will put pressure on the price. There need to be other reasons to buy BTC besides speculation and they need to be obviously better than using fiat for the same reason. Not just cheaper but also easier. For example it might already be possible to beat Western Union on price using BTC but Western Union is still a lot easier to use.

Even if every Starbucks accepted it, why would your friends (non bitcoin owners) go through the hassle of converting USD to bitcoin just so they could use it at Starbucks? Their USD works perfectly fine. It's not solving any type of consumer transaction problem for them.

He sent me a text saying I admit I'm starting to get interested but I think it needs accepted at more places. I sent him some videos and articles I thought would help him get started and told him that if he ever gets a wallet to let me know and I'll send him some to try it out, we'll see what happens.

I'm most excited about OpenBazaar right now, I think that will be something that's leads to more bitcoin adoption. Not eBay accepting it.

Because you get 20% discount at Starbucks if you pay with Bitcoins?
https://coinforcoffee.com/