Any criticisms of bitcoin at this point are at least 10 years too early. Bitcoin is in its infancy. Criticizing bitcoin today would be like criticizing email in 1985, which was the first year that I started sending emails. That was at least a decade or more before the world really caught up and email started becoming ubiquitous.
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"The world’s first bitcoin ATM made headlines early November last year. Sitting against a wall in the corner of Waves Coffee House, the ATM saw $10,000 worth of transactions on the first day of use. That number is something Willard Ling wants to duplicate and exceed as he installs the first bitcoin ATM in New York City."
"TigerDirect.com announced Thursday that it will be accepting Bitcoin, a peer-to-peer digital currency, as a method of payment on more than 200,000 products. The Miami-based company said it is the first major U.S. electronics retailer and largest company to date to accept the digital currency Bitcoin via BitPay."
" The deflationary mechanism of each cryptocurrency is admirable; it is an attempt to preserve real purchasing power. With fiat paper money printed by an out-of-control central bank, an increase in the number and denomination of papers (or their electronic equivalents) circulating in the economy will not increase material prosperity or the abundance of real goods; it will only raise the prices of goods in terms of fiat-money quantities."
"SINGAPORE--(Marketwired - Jan 10, 2014) - GoCoin, a leading digital currency payment platform, announced today its ability to accept the alternative digital currency Litecoin. GoCoin clients will now have the flexibility to accept both Bitcoin and Litecoin payments all through one succinct platform."
"The process of ‘minting’ virtual coins has become a huge investment proposition worldwide. We saw it with Bitcoin, but now Litecoin seems to be the focus of a lot of miners."
"Litecoin sits at where bitcoins were last year this time. Currently litcoins are trading at around $24, a little higher than where bitcoins were January 2013. Interested parties who missed the bitcoin bandwagon, or who got in too late to make serious cash, are looking at litecoin as the new best thing. The opportunity exists to get in early and make some money as the currency jumps to reflect a closer relationship to bitcoin, which has been written about before."
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Online retail superstore Overstock.com has announced that it will begin taking Bitcoin (and by extension, Litecoin) Q1 2014. We are not fortune tellers, but even we can see that Amazon.com will follow shortly thereafter if all goes well.
Their 1u and 6u rack-mountable ASIC devices will feature low power consumption and high performance for the price:
Viper Device 5Mh/s: 100watts (or below) ~$2500 (full cost)
Viper Device 25 Mh/s: 600watts (or below) ~$7500 (full cost)
When Nimue gets our hands on these devices, the sky will be the limit! We have the facilities ready and waiting to accept them, but for the next few weeks and months before release we still need to be focusing on bringing our GPU mining capacity up in order to increase our purchasing power!