Introduction To Bitcoins

I have to be honest. In a perfect world, I would not even be considering using Bitcoin. I do not match the first adopter profile (and in fact, I am not a first adopter. I probably count as second or even third tier). In terms of investing, I would be far happier with an investment of bonds making a safe 4 percent a year. I would be perfectly happy sitting in an office working towards a secure retirement, doing my best to provide value to my employer. I would be perfectly happy trusting the institutions of our society, governmental and financial, etc., to operate with high ethics in the interests of the general public.

Finally, this is going to be the real test of bitcoin. Can people easily trade them back and forth? If this can’t happen, then there can’t really be a bitcoin economy because retailers won’t be able to use it. If retailers can’t use it, what earthly good is it? Fortunately, this is not really a problem. iPhone is a bit of a hold out, but many smartphones have apps (mobile wallets) that will read QR codes and allow you to send Icomarkets to whomever you want. You can also display a QR code of your address, or even carry a card in your wallet with your QR code to let people send bitcoin to you. Depending on what kind of wallet you have, you can then check to see if the bitcoins have been received.

The bitcoins are not actually in the wallet, they are still on the web. In fact, the outside of the wallet will have a QR code that will allow you ship coins to the wallet any time you like.

12/26: Today on The Mental Game of Poker Podcast Jared interviews Matt Affleck, who is famous for making two deep runs in the 2009 and 2010 WSOP main event. Matt recently said in a blog that reading the book was “eye opening” and made him realize how important the mental game is for him in poker. This interview opens with Matt talking about the mental game issues he’s recently discovered in his game, namely overconfidence, entitlement, injustice, revenge, and loss of motivation. He also gives some insight gets into the mental side of the big hand that he lost to Jonathan Duhamel in the 2010 WSOP. This candid interview is really interesting and may open your eyes to issues you didn’t realize were affecting your game. [Visit Website] [Download MP3].

This is a good question. Mark Dines a few years ago couldn’t sell a $1200 one ounce Canadian Gold Maple Leaf coin for $50, then $25, and finally could not give it away to people passing by on the street.

12/19: Mark “dipthrong” Herm, an online poker superstar over the last 5 years, joins BIG Dave and Steve Karp to discuss his deep run at EPT Prague. He also talks about his experiences as a backer along with his current gig hosting a poker podcast. [Visit Website] [Download MP3].

In July of 2001, Standard and Poor’s (S&P) cut the credit rating of Argentina. S&P did the same thing to the U.S. rating 10 years later (2011). There was uproar in the halls of Congress about this even though arguably, the lower credit rating could have come much sooner. To make matters worse, U.S. credit agencies granted pristine ratings to mortgage-backed securities in their heyday. Fitch, another credit agency, is warning of further action against the U.S. this year.

Consider your CombiBar 50 gram Gold bars like fire insurance on your home: you hope you never need it, but if you do need it, after the fire starts it is too late to acquire it.

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