Because now the CoinBase exchange is backed by the NYSE.

Good call guys!

I'm still holding on to my Beanie Babies. Just wait…

Pretty much everyone who didn't buy any.

Does this mean washed up actors like Fred Thompson and William Devane will be pimping Bitcoins now?

Anyone calling the certain death or certain success of Bitcoin is out of their fucking mind.

The "it's tulip bulbs" crowd don't know what they are looking at and the "to the moon" crowd are oblivious to the tremendous risks.

The only sane folks dealing in Bitcoin are those who realize it's an experiment or at the very least a beta for future cryptocurrency schemes and have peppered their angus accordingly.  With that said, after 7 years and multiple boom bust cycles, it's proven to be a surprisingly robust experiment.

This article from November 2011 is worth a read:
The Rise and Fall of Bitcoin - Wired Magazine

Enron and pets.com were listed on stock exchanges too...

What's next? Kreiger-ans?

Brian Kelly, the guy who wrote that opinion piece, also wrote this book.

The Bitcoin Big Bang

Book Description

Publication Date: November 17, 2014

Get a handle on the digital currency revolution, and learn how to get on board


The Bitcoin Big Bang is a guide to navigating the uncharted territory of digital currency. Written by CNBC contributor Brian Kelly, this book goes beyond Bitcoin 101 to explain how this transformative technology is about to change the world. Digital currency is thrown into perspective against the history of payment systems and its own evolution, as readers are invited to explore the ways in which this technology is already changing the way business gets done. Readers gain insight into the mechanisms behind Bitcoin, and an expert perspective on digital currency's effect on the future of money and the economic implications of the Bitcoin revolution.

In the same way that e-mail changed the way we transfer information, the decentralized Bitcoin network is about to revolutionize the business world, the legal profession, and even the role of the government. The Bitcoin Big Bang dives head first into this paradigm shift, allowing readers to:

Explore the origins of digital currency

Learn the history and evolution of payment systems

Discover how the Bitcoin network is facilitating free and instant transfer of value

Understand the mining of Bitcoin, and how to invest

The digital currency revolution has implications that spread far beyond the finance industry. Anyone who exchanges payment for goods and services is on the cusp of the next big push in societal evolution, and only an understanding of the technology and a clear knowledge of the systems and behaviors at play can fully prepare us for the changes to come.

The Bitcoin Big Bang is the go-to guide, helping those who use money use it better.

The only way to control the opposition is to lead it.

I believe we are moving toward an electronic currency, but it will be government or banker controlled for obvious reasons.

Remember, bitcoin is vulnerable to: theft via hacking (happened once from Australia and once I know in Europe), loss via disappearance of the virtual wallet (Mt. Gox), and the internet kill switch

So was Enron.

eta: (beat!)

The NYSE was a stakeholder in Enron?

This just in, Beanie babies are anonymous and can be used to buy real goods..

I got a shitload of them to go with my Carbon offsets

Enron was a mismanaged and corrupt organization and completely dissimilar to Coinbase. I mean, you're comparing apples to space shuttles.

CoinBase is an exchange where you can swap bitcoin for USD. A similar setup would be taking your USD and swapping them for Canadian dollars, where the exchange company takes a small fee for their services. Right now Coinbase isn't charging a fee, but the concept is the same. There are literally hundreds if not THOUSANDS of cryptocurrencies out there, and new ones are being released every day. Bitcoin and Litecoin are being accepted all over the world, and is becoming more and more popular. As for the hacking and loss of wallets, we've seen that happen, what two or three times in seven years? Meanwhile, how many US banks have folded in the same time period? How devalued have world currencies become?

With that said, only a moron would put their entire life savings in crypto. Anyone who has ever looked into investments, the very first lesson they learn is to not put everything they have into one thing, because if shit goes south, you'll lose you ass. The Mt. Gox case is the prime example of that. Don't keep all your wallets on a server you don't have access too. make a copy of your wallet on a thumb drive or even a flash card and stick it somewhere safe, that way you have a backup should something happen.

For golly gee wiz info, I hold coins in:
Bitcoin
Litecoin
Dotcoin
PetroDollar
Guncoin
RippleLite
BitCentavo
LottoCoin
Aricoin
CryptoClub
Digibyte
MetalMusicCoin

Why not DogeCoin?

Sold it all. But it's actually doing quite well in the markets, considering it was created as a joke.

Little digital tokens backed by nothing but a hope that you can sell them to a greater fool tomorrow are not the future of currency, and have no intrinsic value.

http://www.businessinsider.com/bitcoins-have-no-value-2013-4

Sounds like some other currency I know about...

 

Pokemon cards here.

Do I need a wallet to carry them in ?

"Hey Jeese!"... *throws coin*

Other than being backed by an indebted government cash and bank accounts are the same.



 

Doesn't a "regulated exchange" defeat the entire purpose of BitCoins anonymous finances?

Recent WSJ article.

Yeah, I thought bitcoins were for buying stinger missiles and ladyboy slaves?

Yeah I have USD in my wallet too.

Bitcoin isn't anonymous, it's pseudonymous. There will, however, be cryptocurrencies that approach (but never reach) true anonymity.

 

...

Arfcom can't wrap its head around Twitter and struggles with the concept of valuations.

Cryptocurrencies.......?

For a good market appeal they should go with people like Snowden and Assange.

Government can't have that. So they fix it by becoming the gatekeeper.

BTW, US government is one of the biggest holder of BitCoins. Asset seizure of course.

Whoa... you mean to tell me that if you fail to properly secure your computer, someone can steal your bitcoins along with your bank credentials?  Shocking.

There's no such thing as an "internet kill switch".

The liquidity difficulty is what has been the limiting factor in bitcoins adoption in my opinion. Once people are able to quickly move digital dollars into bitcoins and pay at the point of sale you will see more people accepting it. Reducing the time the payer holds 'value' in btc also reduces the risk of rapid changes in valuation that come with speculation.

I made a bit of money in btc and plan on using it as a method of payment at my business.

Agreed on that point. There are only a few places that I know of that swap btc for usd, coinbase and bter being two of them, and if their service goes down, companies could get hosed in the process.