Every bitcoin transaction is broadcast to the world. EVERYONE can see your transaction. There is no anonymity in bitcoin. Also bitcoin is a ponzi scheme because the majority of bitcoin is in the hands of a few persons. Bitcoin would not be able to accomodate the entire world because every transaction takes space on your HD and bandwidth. If too much people started using bitcoin, you'd start to see 1 GB/s of bandwidth usage. Then 10 GB/s. Then 100 GB/s.... it will make it impossible for the majority of people to be directly connected to the bitcoin network, forcing the majority of people to use third party wallets and making it easy for authorities to raid bitcoin servers and seize power.
Bitcoins are so practical. A transaction with "old money" that would take less that 30 seconds, now can be completed in over 5 minutes!! Not to mention that it took them 45 minutes to get the bitcoins from that machine. In those old obsolete ATMs I used to get my money in 1 minute. Ah, and "Old Money" is accepted anywhere, Bitcoins you have to wander around town to find some place that accepts it. Another point for Bitcoin!!
Digital Currency Information & General Chat
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I have been watching the numbers and the time periods in which Bitcoin is being sold, over the last 10 days. It appears to me that the push to buy Bitcoin is coming from China. I believe that as the Yuan continues to be troubled, Bitcoin continues to rise.
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