Yeah; people don't realize how Bitcoin can do so much. It's not (just) sending some irreversible transactions around, as useful as it is to replace Paypal/WU. It's like every financial cryptographic construct ever got mashed up in an academic paper, except it's not a paper, it's a real system in use worldwide and the constructs can be actually used by real people for real things. Of course none of them are easy to use, many aren't even enabled - but I think the situation is like the early Linux kernel: it's a rare geek who understands why you would want to hack on a kernel, a rarer techie who can compile kernels and mess with kernel settings, and an even rarer techie who can write a kernel module to do something, but the potential and power are there.
Yeah; people don't realize how Bitcoin can do so much. It's not (just) sending some irreversible transactions around, as useful as it is to replace Paypal/WU.
On a related note do you have any thoughts on ripple? It seems to offer huge potential convenience if 'distributed payment processing', which could work well to enable bitcoin to be easily spent and traded. From what I can tell their business model is based on making an essentially free, incredibly convenient service and if it takes off it will produce value in their own currency of which they will...
The bitcoins that I had set aside for a Cryonics contest two years ago (and were unredeemed) are suddenly worth a lot more.
Details: I had added 10 bitcoins to get things started, and there were 4.75 worth of additional donations. These were partially lost when the hosted online wallet that I was using (MyBitcoin) was hacked, but 49% was recovered. As of today, after refunding part of the donated money, it is now worth 5.2675. I will be adding from my personal store to bring it up to an even 5.5. At $140 per coin, the new total is $770.
I've decided to follow the buy-and-hold strategy for at least another year, since it worked so well. I don't have exact details on what I'll do with it, but it will not be converted or spent for at least one year, and will eventually be used for promoting cryonics in some way.
Some things I have in mind if it gets big include:
Contributions can be made to:
1Jdn36JUwvJdr3Qiie4aAseFdcoTsND9Qo
(Updated, since the previous address was attached to my personal wallet on an outdated client, which was causing money to be moved out of it by accident. The above is a brainwallet with a reasonably secure passphrase, generated using Blockchain.info.)