Sean's Outpost Charity Finanzen Hit von Drop in Bitcoin ...

Sean's Outpost has fed people at $35 a coin and $1200 a coin. The price of bitcoin is volatile but it's ability to be used as a transaction network has not faltered.

Sean's Outpost has fed people at $35 a coin and $1200 a coin. The price of bitcoin is volatile but it's ability to be used as a transaction network has not faltered. submitted by ForestOfGrins to Bitcoin [link] [comments]

Sean's Outpost Charity Finances Hit By Drop in Bitcoin Price

Sean's Outpost Charity Finances Hit By Drop in Bitcoin Price submitted by mrschivers to Bitcoin [link] [comments]

Sean's Outpost Charity Finances Hit By Drop in Bitcoin Price

Sean's Outpost Charity Finances Hit By Drop in Bitcoin Price submitted by THE_CHILD_OF_GOD to Buttcoin [link] [comments]

Sean's Outpost Charity Finances Hit By Drop in Bitcoin Price

Sean's Outpost Charity Finances Hit By Drop in Bitcoin Price submitted by mrschivers to Pensacola [link] [comments]

Sean’s Outpost Charity Finances Hit by Drop in Bitcoin Price

Sean’s Outpost Charity Finances Hit by Drop in Bitcoin Price submitted by BTCNews to BTCNews [link] [comments]

Sean’s Outpost Charity Finances Hit By Drop in Bitcoin Price

Sean’s Outpost Charity Finances Hit By Drop in Bitcoin Price submitted by tonewsto to ToNewsTo [link] [comments]

Let's face it: There's currently no demand for all those bitcoins. And we fail to understand why.

During the recent years, people have built fantastic infrastructure around bitcoin. The number of people who could use Bitcoin through bitpay, coinbase, kraken, bitpesa, ... has exploded, but the number of actual Bitcoin user has not.
China has "banned" Bitcoin several times. Bank of England has "endorsed" Bitcoin. We help Sean's outpost and NASCAR became DOGECAR for a weekend. That's a success, but no moon-level-success.
We keep saying to ourselves that the price does not matter, but it does. It tells us how much demand their is for cryptocurrencies, and, through speculation, how much demand there will be in the future. Current market cap is USD 5,159,026,368 and falling. Not enough to go to the moon.
Can we stop the circle-jerk and think about why greedy Wall Streeters and hard-working Phillipinos don't go crazy about Bitcoin, yet. If we fail to understand this, we all are going to make bad decisions.
submitted by jan to Bitcoin [link] [comments]

Why I believe we're on the cusp of the 3rd great Bitcoin bubble

We've recovered from the last crash
You might think it's a bit early (based on the time frame for the last recovery), but things are looking a lot different than in 2011. I would suggest its because the last bubble popped prematurely due to Mt. Gox's failure of a trading engine.
Interest in buying Bitcoins has gone up to its highest point since the last bubble.
There's a similar spike in general interest. Partly helped along by the Silk Road news.
The network is being used at the same rate as during the last bubble.
The Bitcoin ATM story (see below) is causing Bitcoin to trend in Canada on Google (was #1 for a bit). The $27 story (see below) will almost certainly cause a large spike worldwide in Google trends once they're updated up to yesterday.
Lots and lots of new businesses now accept Bitcoins
One legitimate criticism of Bitcoin last year was the lack of places to spend them. We basically just had Alpaca Socks, Reddit and Wordpress, we've grown a lot since then!
Charities and others are taking donations
The first Bitcoin I ever spent was to donate to Wikileaks. More and more places are setting up Bitcoin donation buttons, because why not?
The $27 story is going massively viral
I think the attention this story is getting took a lot of us by surprise. We're thinking "of course if you bought Bitcoins in 2009 you're rich" and it didn't make much of a splash. But to the rest of the world it's a very novel and interesting story.
The first Bitcoin ATM has been installed
Easier way for people acquire Bitcoins with cash. Lots of free publicity. More machines are on their way and will generate more and more news.
Institutional money is coming
Afraid with the price at $200 that it will be hard to find enough moms and pops to keep money coming in faster than miners are selling? Don't be, there are individuals out there with a net worth higher than the entire Bitcoin ecosystem.
Interesting new developments
Cool things that didn't exist before the last bubble (as far as I remember).
Governments are explicitly saying it's not illegal
More and more governments are either saying Bitcoins are legitimate currency, or releasing guidelines for exchanges to comply with anti-money-laundering laws.
New generation of exchanges
Mt. Gox's terrible trading engine was a huge factor in the last crash. They couldn't keep up with all the new interest.
This time around there are more exchanges in more countries, and not a single point of liquidity.
submitted by DTanner to Bitcoin [link] [comments]

Bitcoin, Startups, and Suicide: Being an entrepreneur is hard

For over a week now, I’ve been trying to write a year in review piece for Satoshi Forest. The words, which usually just flow like a spigot when I’m passionate about something, seem to just dribble out. And what little eeks by is hardly print worthy. Maybe it’s just writer’s block? Writer’s block happens. Or maybe I’m not as passionate about Satoshi Forest as I used to be?
But, I am passionate about Satoshi Forest, perhaps more than I ever have been. And writer’s block, if it is the culprit, cannot explain why I haven’t responded to Elizabeth Ploshay’s ALS Ice Bucket Challenge, in a timely fashion. I guess I’ll have to donate now. You see it’s not just the Satoshi Forest year in review, it’s everything. Emails from friends I haven’t responded to, phone calls I let go to voicemail, new endeavors at Sean’s Outpost I let sit unannounced (http://blockchain.satoshiforest.com/). And then it hits me. I’ve been here before.
I’m really depressed.
And it seems to be going around.
Since the tragic suicide of Robin Williams, four (4) people close to me have also tried to kill themselves. One succeeded. An anecdotal survey of my friends has seen an equal uptick in the number of people talking about or attempting suicide. It’s been really disturbing.
In the preparations for the Bitcoin in the Beltway conference this past June, I had one of the more surreal conversations of my life. An east coast sales director for Marriott called me wanting to know if bitcoin was linked to suicide. They had heard of the tragic death of Autumn Radtke in March (http://nypost.com/2014/03/06/bitcoin-firm-ceo-jumped-to-her-death-neighbo) and were concerned about hosting a conference for a technology that was making people kill themselves. I was sure he was joking. He was not. The conversation I had with him must have allayed his fears. #BitcoinBeltway went great, can’t wait to do it again next year.
Obviously, bitcoin does not cause suicide. And while we are quick to sticky a “suicide prevention hotline” when the price crashes, bitcoin is not causing depression. What we may want to look into is something that is not bitcoin related, but more something that comes part and parcel with “bitcoiners”.
The woes of entrepreneurship and startup culture.
Being an entrepreneur is fucking hard. Really hard. Most people don’t even attempt it.
It might not feel that way to you, but likely that’s because you surround yourself with other entrepreneurs. Your friends work at startups. Your trips are to startup conferences and conventions. Your news feed is bitcoin and hacker news. You are firmly in the echo chamber.
Most people will never try and build a product or company. So most people will never experience what it is like to fear you won’t make payroll and someone else will not be able to pay their rent because of you.
Most people will never know how difficult it is to raise money. To get someone else to believe in you enough to open their checkbook and support you financially. The hours you spend and the mental strain that comes from hearing “No” again and again and again. And if you get a “Yes” the pressure doesn’t dissipate! It increases! Now it’s your crazy idea and someone elses money you’re responsible for.
Being an entrepreneur is really hard.
And we are really hard on ourselves. We are afraid to show any weakness. Because we’ve been taught being weak or vulnerable is to be shunned. If someone asks you how your company is doing “We’re killing. it.” probably comes off your lips before you’ve even processed the question.
It is statistically impossible for everyone to always be “killing it”.
But ask at your next mixer or meetup and almost everyone will be “killing it”.
And that pressure to succeed, to perform, to win is immense. And I think that pressure may be even worse in bitcoin.
Not to everyone, but to a lot of bitcoin early adopters, and especially to a lot of early bitcoin entrepreneurs, bitcoin is a promise. A glimpse of a better world free from the inequalities brought by our legacy financial system. So if you fail in bitcoin, it is easy to feel that you are failing on that promise too.
I’ve felt that way. Felt that if I screw up I am screwing it up for every non-profit and charity. That they will somehow not get the benefits of bitcoin because I failed. I see it in others. Just a week ago at #Cryptolina I talked with a group of brilliant entrepreneurs who were convinced that if they didn’t beat an incumbent payment solution to market, they had lost the war. And that whole segment of the market would NEVER benefit from cryptocurrency.
Being a bitcoin entrepreneur is hard.
And I don’t have the answers to how to deal with all the pressure and depression that come from doing what we do. But I have learned a couple of things and maybe someone else that is experiencing depression or having dark thoughts can read this and gain some value from what I’ve learned. And even better, maybe someone that has dealt with depression in the past can riff on what I’ve said and provide some insight into how they cope.
1) You are not alone.
When you are depressed, it seems like everyone else has it all together and you are the anomaly. That’s not true. They probably don’t have their shit together either. And everyone has problems we don’t see. Everyone.
Some of the greatest entrepreneurs and investors of all time have had brutal fights with depression and suicidal thoughts.
READ:
http://www.inc.com/magazine/201309/jessica-brudepsychological-price-of-entrepreneurship.html
2) Bitcoin needs you and it doesn’t need you. And that’s ok.
Bitcoin needs you. It really does. But it doesn’t need only you, it needs all of us. You are not the single point of failure. Bitcoins success is just a decentralized as the blockchain. So give yourself a break. It’s ok to make mistakes and it’s ok to fail. It’s even ok to fail spectacularly.
Think back to how many times bitcoin has been declared dead. How many times has the price crashed? How many times has a major bitcoin institution been corrupted/hacked/found to be a scam?
And yet, here we are. An you are here too.
3) It is ok to ask for help.
This is hard to learn. We come from a self sufficient culture. And if you ask for help, people will realize that you are not as awesome as they thought you were...BULLSHIT. Asking for help has ZERO bearing on how awesome a person you are. In fact, your friends WANT TO HELP YOU. Being there for you in a moment of crisis is something your friends are probably really down for. But if you ignore them or won’t tell them you are having problems it is really difficult for them to help. Talk to someone. If all else fails you can always call…
THE NATIONAL SUICIDE PREVENTION LIFELINE: 1-800-273-TALK (8255)
I know all of this might not make a difference. When you are caught up in your head in the middle of a depressive episode nothing seems to help. Try to find something that you can concentrate on just to get you thru the worst of it. For me, I go play with my kids. It helps me. Sometimes more than others.
If you are feeling down, try to talk to someone. And if you see someone feeling down, try to lend a supportive ear.
Bitcoin needs you alive.
submitted by SeansOutpost to Bitcoin [link] [comments]

[Please Sticky] Sean's Outpost: The Bitcoin Angel Tree

EDIT*** EVERYTHING IS FUNDED. TOOK LESS THAN 3 HOURS
Hey Everyone,
I’m not a religious person. But I do enjoy the opportunity to celebrate the holidays with my family. It’s a time of year to be thankful for all we have. Celebrate the people we hold dear to us. Eat, Drink, and be Merry. In the US it’s almost comical the displays of excess everywhere. People overindulging in celebratory exuberance. It’s fun.
But not for everyone.
For a large portion of the population, December is a reminder of how little they have and how few people actually care. There are spikes in Depression and Suicide in December every year. For a reason.
Sean’s Outpost has been very fortunate this year. We have fed over 26,000 meals to the homeless in our area. But we know that man does not survive on food alone. Sometimes, all somebody needs is to know that someone else cares, just a little bit.
We thought it would be a good time to spread some cheer. So we have been asking people what they wanted for Christmas. The results are staggering. Most people were dumfounded. They hadn’t celebrated the holidays or even thought about the concept of receiving a gift in years. A lot of them cried. And most were at a loss for something to ask for, because so many of these people are so humble.
But we were able to compile the list. And I thought it would be cool to incorporate the concept of an “Angel Tree” with bitcoin. Not Angel with wings, Angel like investing. Because that’s what this is. This is investing in the mental wellbeing of another human.
We thought it would be fun. So here’s the list. If you want to sponsor a gift, I will edit the list and strike that thru.
Tis the season. Thank you all for such a wonderful 2013.
Jason King
Sean’s Outpost
Bitcoin Angel Tree- Approximate Price in BTC
Size 13 Sneaker .1BTC
Car Battery for a 1985 Cutless Supreme .22BTC
12 String Guitar Strings .05 BTC
Big Pack of Duralogs .05 BTC
9 1/2 Mens Sneakers .1 BTC
Medium Boxer Shorts .02 BTC
External Hard Drive .18 BTC
A Starter for a 2004 Honda Element .3 BTC
Large Boxer Shorts .02 BTC
Thick Socks .02 BTC
External Hard Drive .18 BTC
A Microwave .2 BTC
A Bicycle .25 BTC
A Propane tank .08 BTC
A XXL Thick Coat .1 BTC
Tons of Socks .05 BTC
High Top Sneakers -Size 11 Mens .12 BTC
Women's size 9 Sneaker .1 BTC
Size 10 Mens Sneaker .1 BTC
Size 10 Mens Sneaker .1 BTC
A Giant Comfy Blanket .07 BTC
26inch Bike Tires and Tubes .1 BTC
26inch Bike Tires and Tubes .1 BTC
Bicycle patch kits .03 BTC
A Sleeping Bag .15 BTC
Crock Pot .1 BTC
Large Hoodie .08 BTC
XL Hoodie .08 BTC
Medium Hoodie .08 BTC
Thick Gloves .05 BTC
A Nice Blanket .08 BTC
A Sleeping Bag .15 BTC
Gloves .05 BTC
A Sleeping Bag .15 BTC
A New Tent .3 BTC
A Blanket .05 BTC
Medium Boxers .02 BTC
Socks .02 BTC
submitted by SeansOutpost to Bitcoin [link] [comments]

A massive 10 day Litecoin media awareness drive. We need more people to know about this great currency.

I'm calling for a massive 10 day media push.
While the hype of bitcoin is ramping up Journalists are looking for another twist on the old bitcoin story.
If you are good at writing copy then please write a press release and post it hear.
If you do contact media please put what you wrote to them in this post so others can get an idea of where to go.
When writing a press release try to think, "what makes a great story?". Think of headlines that are re printable.
"People now making a fortune on bitcoin backup plan"
Or
"Homeless people getting fed with crypto-currencies" And then go on about bitcoin and litecoin at seans outpost.
It is fine to talk about both bitcoin and litecoin but I would stay away from other alts.
Most Journalists take press releases and just re print them because they are lazy so write one that is ready to go. If you need tips on writing press releases please google it. If you find good tips then please post here and help others out.
As you can see I'm a shocking speller and thats why I haven't written a press release.
Here are some points you could mention in a press release to the media
submitted by anarcoin to litecoin [link] [comments]

Help us test our new service — if we reach 15 BTC in profits today, 10 BTC goes to Sean's Outpost.

Hi everyone! We're UpDown.bt, bloody gamblers and market wizards. Tired of Satoshi Dice clones where you have no edge? Check out our new beautiful service with real market quotes, see if you can predict the price or just gamble - gold, silver, major currencies are already available.
No registration, no deposits - no risk of us running with your money or getting hacked. In 60 seconds we pay back 1.75 times your bet if you win, and a fixed amount of 0.0003 BTC if you lose - so even if you're betting from your phone wallet, you'll see your transaction was processed.
We're here to answer your questions and give away some bitcoins:
First 23 redditors to bet 0.1 BTC or more in a single bet will receive 0.1 BTC from us - regardless of the bet outcome. Just post the address you used in the comments. Only accounts created on or before 16th of April, 2014 will be considered.
Bonus: if we reach 15 BTC in profits today, we will donate 10 BTC to Sean's Outpost.
submitted by UpDown_bt to Bitcoin [link] [comments]

The 'friendly' Shibes are constantly putting down Bitcoiners. It's putting to a lie the claim of dogecoin being friendly

I was browsing through this:
http://www.reddit.com/dogecoin/comments/1wy7vu/difference_between_doge_community_and_bitcoin/
and I see numerous comments claiming
Bitcoiners don't spend their coin. One person claimed they want to encourage you to spend, while they hold, so that they can get rich. Really? That's friendly and positive? Generalizations like this are kind?
Bitcoiners aren't charitable.
Bitcoiners don't tip.
This is all ridiculous.
Spending:
Numerous businesses have reported seeing a substantial increase in sales after accepting Bitcoin. There is absolutely no evidence that the Bitcoin economy is having trouble with people not spending. Besides Krugman and other Bitcoin haters, no one claims this.
Charitability:
Bitcoiners have given hundreds of thousands of dollars in BTC to feed the homeless by donating to Sean's Output:
http://bitcoinexaminer.org/seans-outpost-has-already-provided-over-20000-meals-to-the-homeless-thanks-to-bitcoin-donations/
There are hundreds, if not thousands of organizations that have received donations from Bitcoin users. The total donations add up to tens of millions of dollars at today's values.
Tipping:
Bitcoin users might not send as many tips as Dogetipbot users, because the Bitcointip creator considers small tips a kind of spam that might annoy the recipient, and discourages them, but they have tipped huge amounts.
We're talking dozens of tips worth hundreds of millions of Satoshis (hundreds of dollars at the time, thousands of dollars at today's market prices).
So what's up with the put-downs? Where is the evidence for all these negative stereotypes being upvoted? How is this friendly or positive?
submitted by aminok to dogecoin [link] [comments]

Remember to donate while the bitcoin price is low!

Places that accept bitcoin will often hold on to it, and cash it out as they need it later. If you expect the price to rebound, and actually climb back up, then you should donate while it's low. A $5 donation to SeansOutpost, the EFF, WikiLeaks, etc, can be worth $10 in a short while.
Of course I'm not ignoring the fact that the price could drop and have the opposite effect, but if it's dropped to a new low, as it has recently, and you believe it will climb again, then you should donate now.
submitted by 1Bitcoinco to Bitcoin [link] [comments]

First BTC only binary options service — no registration, no deposits, payout in 60 seconds.

Hi everyone! We're UpDown.bt, bloody gamblers and market wizards. Tired of Satoshi Dice clones where you have no edge? Check out our new beautiful service with real market quotes, see if you can predict the price or just gamble - gold, silver, major currencies are already available.
No registration, no deposits - no risk of us running with your money or getting hacked. In 60 seconds we pay back 1.75 times your bet if you win, and a fixed amount of 0.0003 BTC if you lose - so even if you're betting from your phone wallet, you'll see your transaction was processed.
We're here to answer your questions and give away some bitcoins:
First 23 redditors to bet 0.1 BTC or more in a single bet will receive 0.1 BTC from us - regardless of the bet outcome. Just post the address you used in the comments. Only accounts created on or before 16th of April, 2014 will be considered.
Bonus: if we reach 15 BTC in profits today, we will donate 10 BTC to Sean's Outpost.
submitted by UpDown_bt to BitcoinMarkets [link] [comments]

Help bring CoinTalk back to life!

Hey guys - I hate to be a charity case, but hear me out...
My name's Kyle. A few months ago I left my day job to start producing a show called CoinTalk: The Cryptocurrency show. I had secured funding from a private individual to do this and we purchased camera gear as well as got a studio space and started setting up shop. With this gear I traveled to a number of conferences and started doing interviews of the key players involved in Bitcoin. You can check out the previous episodes of the show. We we're doing really great, we had a high quality, content rich HD show with followers from over 195 countries. If you saw the ethereum videos, those we're shot and produced by us. With over 150,000 views on our channel, and involvement in a series of video's and episodic content that was produced both for Sean's Outpost, Ethereum and a number of other crypto initiatives we had momentum. We interviewed the folks from Ethereum, Bitshares, Let's Talk Bitcoin, Mastercoin, Ybitcoin Magazine, Blockchain.info, as well as Andreas Antonopolous, Charlie Lee, Mark Edge, and numerous others. You can see the channel here if you want to see what we produced: https://www.youtube.com/usecointalkcanada
Well, after a bit of a fallout with my funding partner which I won't go into details about, I've basically had no choice to suspend work on the show and since then I've remained unemployed. The funding partner has all of the gear, as it was their investment, and that has left the show high and dry in terms of being able to continue. Then it suddenly hit me.
Cryptocurrency, and Bitcoin allows true anonymous peer to peer financial transactions that enable and empower us as people. The show that I started was all about pushing the movement forward as well as cementing it as one of the defacto shows where people could get an honest opinion on crypto. The radical shift that Bitcoin and crypto promises for the future of our society can't be ignored and if we band together, there's nothing we can't do. So why not just ask the community to help bring it back?
You can read my plans for CoinTalk here: http://www.cointalk.ca/CoinTalkPlan.pdf
Basically, I loved doing the show, my whole goal was to be honest, and fair, but to ask the tough questions about the technologies in the space. To be a beacon of hope for the revolutionaries, and to help those who are confused find their way using the technology that can propel us forward. I also want to produce independent content like short films, featured content and hard hitting documentaries. I already have a personal savings in Bitcoin, approximately 7. It's not much, but it's all I have, and if in the future the price goes upwards I will be using it to purchase new gear to do this, but currently it's just not enough to build the infrastructure needed. Also, in my current financial position I don't have funding to purchase camera's, travel to conferences and continue producing the show, all I have is the technical know how, and the hope that the community can empower me - this is where you come in. If you feel like CoinTalk is something that you would like to see back in action again, we are taking donations. Video gear is expensive, and startups cost money.. But we want to build something great and move to a daily live model as soon as we can. In any case - it's up to you.
Here is our donation address, I hope to speak to you all soon from in front of the camera and continue to provide the content that we as a community movement need more than ever, a voice.
13RXSsGscH3NMEiQru8vS4Eu5EiHbNZ84X
TD;DR: CoinTalk was doing great - we lost funding and are dead in the water. You can help us get back up and running.
Edit: If anyone want's a video to hear my perspectives, here is one recorded by Bitcorati: https://www.youtube.com/watch?v=axx5X9uSdm0
submitted by COINTALK to Bitcoin [link] [comments]

First Thanksgiving in Satoshi Forest seeks Sponsors (cheap!)

Reference: https://bitcointalk.org/index.php?topic=329396.0
Relevant: https://bitcointalk.org/index.php?topic=329396.msg3543236#msg3543236
Please visit the link(s) above to get up to speed, but in essence we're seeking sponsors that have a Bitcoin related web presence. The amount seeking is only a US cent (penny) or higher, ideally at least a $1.25 USD donation is sought.
The original goal was to raise at least $500 USD but, thanks to three fellow bitcoiners, we have surpassed that amount. Now, we only seek at least 9 more sponsors so that during the Thanksgiving feast to feed the local homeless at Satoshi Forest there would be plenty of signage on site to be photograph, thus giving sponsors unique exposure.
We're not seeking any entities that may have fat wallets, for this is simply for you smaller outfits seeking exposure at a very reasonable price point.
If you have any questions or concerns, please ask, whereupon I'll address them in a timely fashion.
Here is Sean' Outpost's Bitcoin wallet address for all donations:
1M72Sfpbz1BPpXFHz9m3CdqATR44Jvaydd
If you desire, please state what business entity you're representing here or on BitcoinTalk (follow the first link provided above) so that proper recognition is given, along with knowing what to place on the sign. Please provide a BlockChain tx for verification purposes.
Jason King should be along shortly to approve this submission, so please wait for such for your protection.
Thank you kindly, all, for at least taking the time to read this.
Bruno Kucinskas a.k.a. TMIBITW
submitted by PhinnaeusGage to Bitcoin [link] [comments]

A few thoughts - Wednesday, August 20, 2014

Good evening! A few thoughts for dinner tonight:

The VC bubble and a domino effect of failures

The latest fad in /bitcoin is that the price of bitcoin doesn't matter. One thread was titled "Sean's Outpost can give meals whether bitcoin is worth $35 or $1200!" That's true, but bitcoin is more complicated than that one use case.
I talked about the insane amounts of venture capital being poured into the industry right now a few weeks ago. The price of bitcoin is important for these people because it affects all sorts of businesses. For example, mining businesses can't profit if there is a crash after they design their chips. Exchanges make less money if the price is lower because a lower price can't support high volume. People who build projects on top of the network and who are sitting on donations can fold. Altcoins that are promising can be forked because it is no longer profitable to mine them.
Even at higher prices, there was not enough money to go around to prevent most of the VCs from losing on their investments. The piece of the pie that the VCs can earn shrinks as the price of a bitcoin falls. These people have deep pockets, so most of them can survive a brief downturn, but as the network expands, the lower bound price that would precipitate a complete collapse is rising.
When bitcoins averaged around $50, there weren't lots of employees getting paid in bitcoins and bankers wanting returns on investment. Now that bitcoins tend to average around $600, the size of the economy has increased significantly. Previously, the price of bitcoins could have dropped to $10 and everyone could still have looked forward to a recovery. Now, the minimum price is much higher (I've said $200) where a cascading chain reaction of business failures would take out the whole industry. In the future, that minimum price will likely rise to $1000, and then to $10,000, and so on.
The price falling below $200 or whatever the minimum is doesn't itself signal anything wrong with the promise of bitcoins. Instead, the low price will cause the failure of some critical part of the infrastructure like a major exchange, which could then cause businesses that depend on the exchange to be taken out, and so on. Even if everyone who owns bitcoins believed that the technology would succeed and there were many people spending bitcoins, the businesses would all be forced into bankruptcy simply because other businesses they need to offer their services failed in a chain reaction.
This VC bubble is dangerous and the best thing that could happen right now is for the VCs to stop temporarily with their investments so that this does not happen. Otherwise, the industry will end up in a fragile state where there are startups depending on other startups that have business models depending on a base price.

The "technology adoption curve"

One of the popular graphs making the rounds nowadays is the "technology adoption lifecycle" graph at http://setandbma.files.wordpress.com/2012/05/technology-adoption.png. According to the people who agree with the theory, bitcoin is currently in the bottom of that huge valley in the middle of the chart. One writer suggested that bitcoin was somewhere near the top of the curve still, with a long ways to fall down the valley before the technology ends up as a fraction of what it was thought to become.
While this chart may be relevant to other technologies, it isn't relevant to bitcoins. The most obvious problem with trying to explain bitcoin adoption using this chart is that there have been many bubbles, but the chart only contains one bubble. It would have been possible to pull out this "technology lifecycle" chart after any bubble in the past few years and state that bitcoins were stuck in the "chasm" and will be permanently damaged. For example, someone could have drawn this graph after the period where bitcoins fell from $50 to $2 and stated that the use of the technology will never be valued at more than $20.
Another reason to ignore this chart is that many of the other technologies that are often compared against it didn't follow the chart either. Some people suggest that the Internet followed this chart, because there was a bubble in 2000 that later crashed, and that the high hopes of the Internet transforming daily life never came to be. The way I see it, the Internet has grown far beyond anything imagined in 2000. Whereas pets.com might have failed, Wal-Mart is now losing customers because Internet shopping has become so cheap that it is a bad idea to go to their stores anymore if your goal is to save money. Cell phones have made many people oblivious to the world; I recently compared what it was like to ride the bus when I went to college and what it is now like to ride the same bus system. Now, everyone on the bus is engrossed in their phones and nobody even bothers to look out the windows, and in ten years people will probably be playing video games with their friends in their glasses, oblivious to the world around them.
Bitcoins are also not "just another technology." There are some technologies like bitcoin that can completely change the world. The Internet, television, and radio were a few of them, because the way the world worked was fundamentally changed by these technologies. Most of the other technologies listed on these charts, like facebook, self-driving cars, and virtual reality are not things that fundamentally change the way the world works. The economy ticks on without being changed significantly by facebook, but any company that has no Internet connection is obsolete.

Unbelievable deals on PS4s

Newegg has unbelievable deals on Playstation 4s right now. If you pay with bitcoins, you can buy one for $319.99, almost 30% below market rate. These are brand new and sealed, and it's likely that Sony will not lower prices to this rate for at least a year or 1.5 years. If you want to make quick money, you can buy a PS4 and then undercut sellers on Craigslist to pocket 50 bucks. For some reason, the market of these bitcoin-discounted PS4s and the dollar-denominated PS4s is decoupled and there is significant profit to be made.
I was trying to figure out what the catch is with these consoles yesterday. Newegg must be losing money on these, because they have a limit of 1 per customer. If they were earning money, there would be no reason to have such a limit. If they were simply offering a loss leader to get people to shop at Newegg or to upsell accessories, then they would offer the same price or close to it in dollars.
Therefore, there are three possibilities for this pricing. The first is that Newegg is being killed by so many transaction fees that they can actually afford to discount the PS4s to this insane price rather than give most of their profits to banks. The second is that bitcoins are priced low, and the company is gambling on a 30% loss now to gain more when this panic subsides. The final reason is that they simply want to promote bitcoins as a currency because in the long-run, the money they can save from transaction fees if bitcoin were the world currency far outweighs the losses they are taking on these items now.
I will take a risky position and say that #2 has played a role in this sale. If a company were looking to promote bitcoin adoption, and hold some percentage of assets in bitcoins, then the best time to do it would be when prices are very low. They can sell thousands of these consoles and take $30k in losses, but they end up with 1000 bitcoins in return. In the process, there are a certain number of people who bought accessories that are very profitable, there are new customers who will now return to Newegg in the future, the price of bitcoins is likely to rise eventually, and they have encouraged people who otherwise would never have bought bitcoins to do so, so that the transaction fees they pay in the future are more likely to be lower. Someone in the accounting department was tasked with adding together all these probabilities and came up with how much they can discount the units to make a profit in the long term.

How long a transaction takes

I read an article this morning where someone mentioned that the average time a person needs to wait for a transaction to process is five minutes. The number is derived from the incorrect assumption that blocks occur every ten minutes, so if you picked a random point between these ten minute intervals many times, it would be, on average, five minutes away from the next block.
Some people also state that it takes ten minutes to process a transaction, which, again, is inaccurate. What's alarming is that journalists for big-name newspapers spread false information to the public when they publish articles about the supposed "10-minute confirmation time."
Hashing for the bitcoin network is independent. If people have been hashing for 60 minutes without finding a block, there is no greater chance of finding a block in the next minute than there was 60 minutes ago. Therefore, one cannot say that blocks occur "ten minutes apart," because that isn't always true. Having done lots of work on a block does not mean that the next block is any more likely to be found sooner.
The time until the next block can be calculated using an exponential distribution. If the hashrate has not increased or decreased since the last difficulty change, publishing a transaction right now means you can expect for it to be confirmed in about 6.9 minutes, not 5 or 10 minutes. This calculation does not make intuitive sense, but results from the random nature of independent hashing. This is good news for those who mistakenly believe that it will average 10 minutes for a merchant to receive a transaction.

Other

submitted by quintin3265 to BitcoinThoughts [link] [comments]

Great job to all those who put together the Bitcoin Black Friday. This is the first time I spent my Bitcoins and I enjoyed every purchase.

I have been in Bitcoin for over a year now and the underlying technology never ceases to amaze me. That being said I have been guilty of being one of the "hoarders" that the skeptics love to critique. I am not one to spend money freely and for me the transaction must make economical sense, within reason of course.
I decided to challenge myself in the last 24 hours and see what is our there in the wild to spend my valuable coins on....
These are some (but not all) of the highlights of this journey:
*I booked two to plane tickets to Orlando Florida in January for a wedding planning session in Disney World. I was planning on buying these through Orbitz, Kayak, or Expedia as I usually do but cheapair.com offered a $10 discount for paying with Bitcoin and with the prices across the sites equal it made economical sense to use Bitcoin. Of course I tweeted this purchase to these other companies and let them know why I chose Cheapair.com.
*I bought a lot of natural soaps and lotions for Christmas presents that my fiance had been asking for. Whollyhemp.com was offering 25% off with Bitcoin so it was a no brainer.
*I donated over $40 to a Sean's Outpost to help homeless people in Florida. This donation was doubled by a generous person and I have the peace of mind knowing that 100% of my donation get to the people who need it most and not skimmed off by banks and credit cards company's.
*I sent $2 to some collage kid who made it onto ESPN who I never met but I felt deserved it for his thoughtfulness in promoting Bitcoin. Just like the donation above I know that this person will get the full amount I sent without any intermediaries skimming from it.
*At the end of the day yesterday I bought a single bitcoin back to replenish what I spent. I did this at Coinbase who charged me no fee to do so.
All in all it was a great day for Bitcoin and I am excited to watch all of this further transform the world in the next 10 years.
If merchants could offer even a very small discount for payments in Bitcoin I would be purchasing a lot more this way. This last 24 hours proved it to me.
Thank you to all that made it possible!
submitted by Plumbum27 to Bitcoin [link] [comments]

I just want to say "thank you" to Jason King for pulling through for me at Coins in the Kingdom

I was invited to speak at the Coins in the Kingdom conference back in August, and the terms were that I would have my hotel room paid for but I had to pay for travel. Several of the people speaking were friends of mine who I hadn't seen in a while, so I gladly accepted, and bought my plane ticket that night. Less than a week before the conference, speakers were emailed with bad news - some sponsors had backed out of their obligations last minute and so accommodations would be tight. They made a request: "Would it be possible for you to cover the cost of your hotel stay?" Being the scrappy young entrepreneur that I am, four nights at a hotel in downtown Disney was just not in the budget. I emailed back saying that I could not cover that cost on such short notice, but that I would be willing to share a room with someone if it came to that. I didn't hear back.
When I arrived at the hotel, Jason (who was a co-organizer of the conference) was in the lobby, and I explained to him my predicament. Without a moment's hesitation, he offered to cover the room for me with his own credit card. It was the first time we'd "officially" met in person, and I was floored. I wanted to hug the guy, it was such a genuine moment of empathy and kindness unlike anything I've experienced in recent memory, but instead I just stood there, shocked, and could only say "thanks alot."
I want to say "thank you" again here in /bitcoin because it's the least I can do for someone who has done me a big favor in the face of incredible adversity. The conference was organized with accessibility in mind: tickets were only $60, kids 12 and under got in free, and there was a room set up just for kids to play in while the adults listened to the wonderful speakers that were invited. With such a low ticket price, I'm sure a lot of the cost was subsidized by sponsors. The ones that dropped out nearly killed the event, putting everything on thin ice, but Jason and his co-organizers pulled it off anyway and held a conference which was truly one for the history books. To top it all off, we had a great day of fun and magic at Disney World the day after the conference.
Jason, from the bottom of my heart, thank you for your kindness and congratulations on pulling off such a great conference. This story will confirm for many what those who have been in this community for a while already know: you are an amazing individual. Much love, brother.
For those of you who don't know who he is, Jason runs a charity called Sean's Outpost (the history of the name is touching in and of itself), which provides meals and temporary housing for homeless people in Pensacola, FL and is (entirely?) funded by cryptocurrency.
Please consider donating to Sean's Outpost to support their valuable work in the Bitcoin and homeless communities of Pensacola:
1M72Sfpbz1BPpXFHz9m3CdqATR44Jvaydd
And if you attended the conference and thought you got more than your money's worth, please also consider donating a few bits directly to the conference's bitcoin wallet to show appreciation for everyone's hard work pulling this thing off:
1CDDq2HURQy4969sneSdufcsiQo6Szm2BK (Jason, if you see this, please verify that this is the conference bitcoin address since I only received it from you in an email and it isn't published on the web)
One more thanks for Jason + team. Peace, love, and Bitcoin!
submitted by lightcoin to Bitcoin [link] [comments]

It seems reality has bitten at least one buttcoiner

Seans Outpost, the ultimate paradigm shifter in the way we feed homeless people just posted on Twitter ...
"Sean's Outpost has fed people at $35 a coin and $1200 a coin. The price of bitcoin is volatile but it's ability to be used as a transaction network has not faltered."
And the buttcoiners are so proud of their collective achievement (after all, feeding homeless people using cash donations is so passe) felt the need to pass on Seans 140 characters of wisdom.
But you just have to love the top comment ...
"The way things are going, I hope the homeless will remember our kindness and feed us in a few months"
Reality bites, and it bites hard.
submitted by daveime to Buttcoin [link] [comments]

Sean's Outpost is one of the first charities who accepted bitcoin.

http://www.coindesk.com/seans-outpost-charity-finances-hit-drop-bitcoin-price/
Two days after this article was publish the wallet have only 2.7 bicoin in it.
We should give more bitcoins so that the absolute value we give to the organization does not change. Just because bitcoin’s value went down, the values required to provide for those in need did not change.
We are proud to have our own charity based on bitcoin. This year many nonprofit organizations start accepting bitcoin. But this organization cannot be continue to sustain on bitcoin; we can do something to change that.
submitted by lluboski to Bitcoin [link] [comments]

Jason King of Sean's Outpost @ Coin Congress Bitcoin & Expedia, Reed's Jewelers, Sean's Outpost, Walmart, 50 Cent Matadon and more... Bitcoin-Price-Forecast - YouTube Bitcoin Price Prediction $20,000 Jason King of Sean's Outpost on Bitcoin and Charity

But Bitcoin is more than a currency, it’s a protocol too. And even when the price is down, the fact that with Bitcoin we can easily accept donations from anywhere on this planet means more people have supported our efforts. And that means that Sean’s Outpost is out feeding at $70 and at $217. On November 20, Sean’s Outpost Founder Jason King published an open letter that included the charity’s statements and answers to recent questions about how the Outpost is handling donated funds. The letter was in response to Ben Doemberg’s questions on transparency and accountability published on November 14 on Let’s Talk Bitcoin in an article titled, “An Open Letter to Jason King of ... Bitcoin charity Sean's Outpost is appealing for funds following financial problems brought on by the low price of bitcoin. Sean's Outpost founder Jason King has announced via Twitter that his organization has served their 100,000th meal, funded entirely with bitcoin. Sean’s Outpost is a renowned homeless shelter that has been accepting bitcoin donations for quite some time now. One of the initiatives of Sean’s Outpost — called Satoshi Forest, a homage to Satoshi Nakamoto — has been the subject of a court case in the state of Florida. Justice has been served, as Satoshi Forest has been deemed legal, and homelessness is not a crime.

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Jason King of Sean's Outpost @ Coin Congress

Mike Kimberl is the boots on the ground for Sean's Outpost in Pensacola, FL. We've done a couple interviews in the past and this one delves into more recent news with Sean's Outpost, a deeper look ... This video is unavailable. Watch Queue Queue. Watch Queue Queue Sean Logan 141 views. New; 3:03. Top 5 Bitcoin Predictions for 2020 (BTC Price Prediction) - Duration: 12:21. BitBoy Crypto 3,943 views. 12:21. Jordan breaks down Dems' talking points during ... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Sean’s Outpost: http://www.seansoutpost.com/ Support MadBits: 1LAYuQq6f11HccBgbe6bx8DiwKwzuYkPR3 MadBitcoins at Coin Congress is brought to you by Purse Spen...

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