tag:blogger.com,1999:blog-3722233.post2451765614936166594..comments2024-03-27T19:58:17.387-05:00Comments on Computational Complexity: Bitcoins RevisitedLance Fortnowhttp://www.blogger.com/profile/06752030912874378610noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3722233.post-47265150226642212352013-12-16T03:30:27.624-06:002013-12-16T03:30:27.624-06:00You state
"He remains unconvinced though he...You state <br /><br />"He remains unconvinced though he invests heavily in gold, which has the same property of the value mostly being there because people believe it has value."<br /><br />The odd thing is that currencies, including the US dollar, also have the property of the value mostly being there because people believe it has value.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3722233.post-44963904064923874962013-12-09T09:51:24.511-06:002013-12-09T09:51:24.511-06:00When investment agencies start to include BitCoin ...When investment agencies start to include BitCoin into their investment<br />portfolio we are all buying BitCoins regardless of our individual appraisals<br />regarding the viability of BitCoin. Perhaps thats how it always will be with<br />financial instruments that we entrust somebody else to manage.Space2001noreply@blogger.comtag:blogger.com,1999:blog-3722233.post-32775200717817789062013-12-05T12:48:51.467-06:002013-12-05T12:48:51.467-06:00Maybe after the hype dies down and the price drops...Maybe after the hype dies down and the price drops a bit. Lance Fortnowhttps://www.blogger.com/profile/06752030912874378610noreply@blogger.comtag:blogger.com,1999:blog-3722233.post-19645497860952837262013-12-05T12:43:33.112-06:002013-12-05T12:43:33.112-06:00My own bitcoin story:
In Spring of 2011 I was at ...My own bitcoin story:<br /><br />In Spring of 2011 I was at a Berkeley Grad Theory Retreat in Big Sur. James Cook started talking about this new thing called bitcoin and he explained the whole peer to peer and mining process. I thought it was a cool idea and so when I got home I decided I ought to buy some possibly to use in the future design of some generalized prediction market (a research interest at the time). The price was $15/BTC so I only purchased about $200 worth, or 13 coins. Soon after mtgox got hacked and the price fell to about $3. Some months later I tried to check into the site to see if my BTC were still there, but my login credentials failed. I contacted mtgox a few times but to no avail.<br /><br />About 8 months ago someone told me that BTC had skyrocketed, so I tried logging in again, this time with success. I thought it was a joke that the price was $100/BTC so I sold about 2/3 of what I had and felt happy for making a silly investment that turned into a 5x profit.<br /><br />Now at $1000/BTC I still have about 2.5BTC left, I've been selling off about 25% of what I have every time the price doubles. I still think the whole thing is quite silly, but glad that whimsical decisions in grad school returned more than a 20x profit. Plus it's a good story to tell.Jake Abernethyhttps://www.blogger.com/profile/15806900044617621815noreply@blogger.comtag:blogger.com,1999:blog-3722233.post-19032873317500943142013-12-05T11:43:30.041-06:002013-12-05T11:43:30.041-06:00I have a small argument comparing BitCoin to an in...I have a small argument comparing BitCoin to an index fund on electricity that may interest your readers: http://www.win-vector.com/blog/2013/11/yet-another-bit-on-bitcoin-is-it-a-semi-closed-end-index-fund-on-electricity-and-hardware/JohnMounthttps://www.blogger.com/profile/01471301836502765734noreply@blogger.comtag:blogger.com,1999:blog-3722233.post-88120327615993418742013-12-05T09:12:25.991-06:002013-12-05T09:12:25.991-06:00Have you bought some now?Have you bought some now?Anonymousnoreply@blogger.com