Well, am against this notion of a few people making "something out of nothing" and majority "making nothing out of something". I have no issue with the technology side. True using crypto technology and blockchain you can trace the history etc, however this does  not explain some mysteries. First a few points to ponder

1. Who invented bitcoin? Why is s/he in hiding? If i were the inventor i would proudly be associated with BTC in this case the guy went to hiding...did he know something or is he/she remaining anonymous avoiding legal action from eminent collapse of bitcoin with a few billionaires and majority impoverished? 

2. Ok BTC is popular and they claim over 6 million coins blah...blah... have been mined so far. How did this happen? Who are these billionaires who spent enormous computing resources to mine bitcoin while the rest of the world was asleep? 

3. Paypal has a disclaimer on bitcoin trade...do they know something? Many governments do not recognize bitcoin and others have even burned it as a legal tender

4. What's backing this currency? Air? 

Anyway the truth is that some genius came up with some incredible algorithm based on cryptography, released the code, used pseudo-names to hide s/he identity, got his/her cronies and fictitious accounts with millions of these so called coins, sat back and enjoying billions coming his/her way.

What a genius!

pro







On Wed, Nov 26, 2014 at 10:57 AM, Anthony Lenya <tlensya@gmail.com> wrote:

Bernie Madoff anyone? ?

On 26 Nov 2014 10:54, "Patrick Kariuki via skunkworks" <skunkworks@lists.my.co.ke> wrote:
Any basis for your advice? 

The US Marshal service is auctioning Bitcoins - If the Bitcoin was part of some ponzi scheme wouldn't they destroy them instead? 




On Wed, Nov 26, 2014 at 10:05 AM, Paul Roy via skunkworks <skunkworks@lists.my.co.ke> wrote:
John,

Good to see you trying to marshal support for digital currency. This is simply pyramid scheme that will make so many people lose their hard earned cash, moreso fraudsters and hackers are having a playing field ripping off many innocent investors...

My advice, keep off bitcoin!

pro

On Wed, Nov 26, 2014 at 9:33 AM, John Karanja via skunkworks <skunkworks@lists.my.co.ke> wrote:

Hi Listers,

Bitcoin Meetup sign up here: http://www.meetup.com/Kenya-Bitcoin/events/218657905/

Bitcoin which is like global M-Pesa is the World’s most celebrated digital and crypto-currency. The past 5 years has seen this new technology experience gradual and steady growth in use around the World. Bitcoin today has over 10 million users globally and is growing fast!

Together with the African Digital Currency Association(ADCA)  we are hosting a Bitcoin Meetup on Monday 1st December 2014 5:30PM at the iHub, 4th Floor, Bishop Magua Centre, Ngong Road, Directly opposite Uchumi, Ngong Road. We look forward to demonstrating how you can Buy, Trade and Store your Bitcoin in this session.

Come prepared with your Bitcoin Wallets which you can download from Google Play and Apple Store as Whive will be sponsoring free BTC Giveways.

If you have no idea how to set up the wallet buzz me off-list and I will help.


As background info read about E.A legal status and regulation of Bitcoin on the iHub community blog here. Post by ADCA lead Michael Kimani.


See you there,

John Karanja


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"Change is slow and gradual. It requires hardwork, a bit of
luck, a fair amount of self-sacrifice and a lot of patience."

Roy.