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Love it or hate it, bitcoins are a national craze

It's fitting the future of Bitcoins is being debated in the gambling capital of the world.

In the sterile setting of a hotel-casino ballroom here, hundreds of people — almost all men — copiously took notes Tuesday on the intricacies of Bitcoin mining and investments in the controversial currency. They cheered the simplicity of Bitcoin while jeering banks and credit-card issuers.

The conference — Inside Bitcoins: The Future of Virtual Currency — "is the Woodstock of Bitcoin," says Robert Brewster, CEO of Whidbey Wasabi, a farmer of wasabi outside of Seattle. "I was skeptical until a skateboarding friend of mine put his last $10,000 on Bitcoin and made $90,000. It changed his life."

Read more: http://www.usatoday.com/story/tech/2013/12/11/risky-bitcoin-...

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I heard that only half the bitcoins have been mined so far. That would be just over 10 million bitcoin right. Lets see here, if each bitcoin is owned by a single individual then 10 million divided by 7 billion people in the world (since bitcoin isn't centralized would mean that .14% of the total population is into the bitcoin fad.

But we all know that way fewer people than that actually own bitcoin.

EPJ: 927 People Own Half Of All Bitcoins

According to EPJ...


Like I said, it is a classic pump and dump scheme. The pumpers control the overwhelming number of active bitcoins and they are now in the distribution phase.They are laying their bitcoins off during all the excitement that they have behid the scenes created.

Read the rest at the URL