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Search activity on Google related to "bitcoin" and its value
This evening I compared two graphs. Search activity on the term “bitcoin” (Google Trends) and MtGox closing value (Bitcoin Charts) over the years 2011 and 2012.
Google Trends (source)
MtGox closing value (source)
Perhaps not surprisingly, these two correlate nicely.
Google Trends offers some context in the form of articles. The spike in june 2011, was a pure hype. In januari of 2012, bitcoin was central in an episode of The good wife. And finally the rising trend in August 2012 seems due to BitInstant’s debit card. They got featured on CNN Money.
Unlocking your savings from memory
This is interesting: unlocking your bitcoin savings with a memorable secret phrase.
What I still find hard to conceive is: where is my money?
If I understand correctly, the BTC money is in the system, on a unique, private address that can be accessed using a complex private key. The memorable secret phrase is constructed to be translated into that complex private key.
Wow, that would mean “money in the clouds”. Buzzzy!
This would forego the need to have a wallet stored somewhere. Also, no need to backup your wallet.
You do need to have a good memory or store the secret phrase in a safe. Or you might lose your savings.
Correct me if I’m wrong, please.
Link found on Reddit.
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