If bitcoin somehow manages to survive 120 years until they are all mined, there is no way it collapses at that point just because the block reward ends.

Forcing the cost of transactions onto the consumers actually sounds like an event that could force it to collapse to me. You are correct though, enough people might jump ship before then to force it to collapse early.

If the proof-of-work costs become so high that they threaten bitcoin, bitcoin can switch to proof-of-stake.

The shift will be gradual.

More likely Bitcoin dies than switching to a scheme thats secures nothing without centralized checkpoints.

Except the mining reward will be miniscule far before that point.

Can someone explain to me how if there is a $50e withdraw limit a day how exactly Greece is pushing up bitcoin's value? Greek people cant buy bitcoin if they wanted to.

IMO this is all sentiment. People who once argued that bitcoin as a tool, protocol, or currency doesnt and cant out-compete whatever current systems we have right now are basically proven dead wrong (again). And if they still believe that, they are lying.

I think this is simply people who were on the sidelines or in countries at risk (e.g. south america, portugal, spain, italy, etc) whove woken up and realized that there's an opportunity today that may not exist for them in 6mo-2 years down the road when the economic landscape of their respective countries could dynamically change.

Continually saying that centralized checkpoints are required for proof of stake won't make it suddenly become true.

Edit: If checkpointing is required (which isn't certain), there are plenty of ways to have decentralized checkpoints.

I think it's more that traders/speculators think the Greece situation will create an overall buy sentiment. And if enough traders think the same way, then it becomes self-fulfilling. I doubt there are enough Greeks buying bitcoins to make much of a difference to the price.

Can't find the article but there was one that showed there is no increased bitcoin activity in Greece. No increased searches on bitcoin, no increase in downloads etc. They have other things on their minds at the moment. So it is not the Greek themselves that are increasing the price but any currency issues increases the interest in bitcoin from elsewhere which is a good thing.

google trends:
https://www.google.com/trends/explor...tz=Etc%2FGMT-3

This is the article I read.

http://fortune.com/2015/06/29/bitcoi...greece-grexit/

Guess I should check their claims before repeating them

Bitcoin rises $15+ and people lose their **** with theories.
LTC on other hand has been making some good return lately

If anyone has a good amount of LTC I am in need of some and will share profits my bot makes.

Currently in main event and have a lot of referrals and feedbacks.

No, continuing to say it doesn't make it true. The fact that there are does.

Yes, there are various schemes to try to work around this, all flawed.

Proof of work is the only way for distributed consensus.

It's more from the other potentially effected people who are parking savings outside of banks that can be shut down.

You going to short too?

And the Litecoin dump has begun.

What's going on? I don't follow Litecoin at all.

http://www.cryptocoincharts.info/ - click on ltc/usd apparently the word bit fin ex is blocked here so i can't post direct url

http://www.reddit.com/r/litecoin

It looks like someone tried to corner the market. Market cap of litecoin is around $200M. Market cap of bitcoin around $4B. With bit fin ex leverage I wonder how much collateral the pump and dump actually required. Much harder to do in bitcoin unless you were an early adopter due to market cap.

nice little $50 bump in btc the past few days

Back over $300, amazing run its on.

Someone was trying to spam the Bitcoin network with lots of low value transactions in an attempt to slow it down. Either intentionally or out of that, people decided Litecoin was a good alternative to invest in, and the price went up. Shills came out all over saying how great Litecoin was due to this attack, was immune, etc..., so the rubes went and bought without investigating bull**** claims. Then the dump happened. But we've got a bounce, so who knows.

Supposedly there was a Litecoin Ponzi going on too - possibly where people needed to buy Litecoin to participate, then the idea would be to dump to Bitcoin and have the price crash, then hvae to pay out only in Litecoin so you come out ahead.

They may be trying to show the network so people would to accept Gavins proposal of a larger block size. I so wish a mandatory penny transaction fee is added to transactions. Bitcoin blockchains main value may be communicate between secret societies, run wars, send secret patents and trade info - not the coin itself for transactions or commerce.

They say litecoin went up because they are near the halving of the block reward. Bitcoins halving it suppose to be July 28, 2016. Bitcoin might be a very good bet (25%-200% gain) within a year if no splits no confusion occurs. Afterwords bitcoin will have lower inflation than most countries leading to further adoption.

http://bitcoinclock.com/

Imo the exchange rate for ethercoin is underreported.

http://coinmarketcap.com/currencies/ethercoin/

Today one ETC is worth 0.008BTC which in the future hopefully will be converted into one ETH. From this we can speculate that one ETH should be worth slightly more to discount for the risk of not getting the ETH. Given that ETH sold for 0.0005BTC this implies that ETH now is up >1500% since the pre-sale. So if you bought ETH for 1BTC, you now hold >16BTC worth of ETH.


Also here are some really heartwarming reddit threads about some people spreading the Bitcoin love:
https://www.reddit.com/r/Bitcoin/com...about_bitcoin/
https://www.reddit.com/r/Bitcoin/com...d_oxi_becomes/