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101  Economy / Speculation / Re: The ultimate bitcoin taboo topic on: September 02, 2013, 09:12:02 PM
I didn't bother reading through the responses, just answering to the OP directly. I'll put my communist hat for a moment. Seriously. Distribution of bitcoins is as democratic and as communist and as fair as it gets. Everyone was free to join in, except those choosing to live under the few extremely oppresive regimes, like North Korea, or those living in the countries that have recently been raped by the imperialists, and were thus too busy or too distracted to think about mining. Sorry for them. We'll try to help out.
Back to the lucky majority of us here, we shouldn't be comparing the scam called fiat money, created as debt by the privileged class out of nothing, with the hard, democratic currency like bitcoins. It's apples and oranges, as one has infinite, monopolized supply, the other has fixed, democratic supply.
As for those who got in early and mined or bought significant chunks - these coins are meaningless until they are exchanged for goods and services. I see no problem there. It doesn't affect my quality of life in any way, or least not in any new way. What if Satoshi wakes up multi-dollar-billionaire, and decides to spend his coins to hire mercenaries to invade my country and turn it into a parking lot he then owns and operates? Nothing new. Nothing exclusive to Bitcoin. Happens all the time.
102  Economy / Speculation / Re: 25k coins bought, $10 jump on: September 02, 2013, 08:46:46 PM
There is an interesting explanation of how money actually appear.

It is based on a simple premise that every entity in the world has a balance sheet.

Every transaction is effectively simply one or more transfer(s) from credit side of the balance sheet of one entity to a debit side of the balance sheet of another entity. No matter how many those transaction are performed overall the amount of money stays the same.

Now let's see how money are created. No matter the way of creation of "money as debt", either the fed loan it to some banks on some terms or a bank obtains a signature of a slave on a mortgage paper or any other method of creation of money as debt, the balance sheet representation of this act is always the same. Money magically appear as an asset on credit side of the lender and the same amount of debt appears as a liability on the debit side of balance sheet of the borrower.

No matter how money move afterwards the end result is the same. Those parties in this lunacy that have privilege of seniorage magically get themselves assets to appear on credit side of the BB while the slaves get the same amount to appear on the debit side of their BB.

This does not strike me as fair, at all. I prefer Bitcoin way of money creation.
It also worth adding that lenders in this case bear no risk whatsoever. Most of slaves will take the game seriously and work hard to create wealth and give it to the lender, interest included. And if they don't - no problem. Just take whatever they bought using your funny money, and don't deal with them further.  And keep telling people how you don't get something for nothing in life  Cheesy

Wow, did we go off-topic here...!
103  Bitcoin / Legal / Re: FinCEN responds to clarification requests on: September 02, 2013, 08:34:06 PM
stick 'em through a mixer
Basically, you are suggesting we use laundering services to avoid getting in trouble with the AML authority.

The only way forward is to work with the government by educating them, turning influential individuals into Bitcoin stakeholders, and avoiding suggestions like the one above. It is perfectly clear that current FinCEN interpretations are anywhere from misguided to idiotic, but it is also perfectly clear that the bigger Bitoin grows, the less under the radar it remains. Regulation is here to stay, and we as stakeholders need to do all we can to ensure the rules are acceptable for those who generally follow rules. Even if you don't follow rules, this is still in your best interest.
104  Bitcoin / Wallet software / Re: BitcoinSpinner / Mycelium on: September 02, 2013, 03:15:52 PM
I may have missed this: are you preparing a PoS version for merchants? Even now Mycelium might be a good option, with some specific tweaks it would become a powerful, secure PoS terminal.
105  Economy / Speculation / Re: 25k coins bought, $10 jump on: September 01, 2013, 05:12:07 PM
Man, do I regret cashing out $5000 yesterday!
Still, needed the the money. Just how long can one wait, eh?

Nobody spends money with deflating prices, anyone?

I have heard this "logic" several times. In the business economics course my lecturer said it too, he even called everyone idiots for spending money during the deflation.

Of course, everyone who ever bought a computer (computers are in perpetual state of deflation) is an idiot by his logic. Yea right.


Professors of economics, economic experts, pundits, and such have had their chance, multiple times, and have repeatedly proven themselves idiots and their theories idiotic. Only an idiot would take them seriously after everything we've seen in the past 50 years. Even those who profited - especially them - don't take the mainstream econimic theories seriously.
106  Economy / Speculation / Re: Tor traffic exploding on: September 01, 2013, 05:04:52 PM
Wait, what?! You guys use Tor to watch video streams?  What bitrate is that?
107  Other / Beginners & Help / Re: Can you stay anonymous with Bitcoin on: September 01, 2013, 05:07:45 AM
1) Mine the bitcoins ("create" them)
The pool will likely have a lot to say about you. VPNs might help, but then you need to trust them. How do you pay? Is it a honeypot? Tor might be an option, but latency comes into play. If going solo, variance is a bitch, plus you need to worry about your ip address exposed again.
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2) Transact cash (untraceable) for bitcoins, via a service like localbitcoins.com which brings buyers and sellers together.
...and government and other agents, too.
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3) "Clean" bitcoins.  Someone may be able to infer that you initially purchased some amount of bitcoin and sent it to some particular public address, but from there a seed of doubt can be planted.  "Plausible deniability".
Yes. This is an important and often ignored detail.

Overall, it takes careful planning and hard work in proportion to the value of your privacy as  a target. My effort would be much smaller than that of a politically exposed person or a big-time drug dealer or a terrorist.
108  Economy / Speculation / Re: Tor traffic exploding on: September 01, 2013, 04:48:32 AM
You posted the same chart with a differently-scaled x-axis...
Oh, crap. I was focused on the title of the thread, which said that network traffic was exploding, and was amazed to see the number of users exploding, too... That, and maybe the amyloid deposits in my brain... Shocked
109  Economy / Service Discussion / Re: Why is Bitstamp different from Gox in regard to USD transfers and regulators? on: August 31, 2013, 11:25:18 PM
Bitstamp doesn't lie to regulators about its status as a money transmitting business. Bitstamp doesn't "forget" to update their registration information.

If you are going to work with regulators, it's a good idea not to lie to them.

Bitstamp hasn't registered with FINCEN. They aren't even trying to become compliant and are therefore attractive to criminals/money launderers. Only a matter of time before the fed takes down bitstamp. Probably btce too.
Bitstamp is not based in the US, and cannot be "taken down" by the "fed."  What can become a problem are USD wire transfers and USD bank accounts, as these are both, universally, in the hands of the US banks, which are of course regulated by the government of the United States.

Again, the question here is - how come Gox is supposedly having problems that Bitstamp is not having?
 
110  Economy / Service Discussion / Why is Bitstamp different from Gox in regard to USD transfers and regulators? on: August 31, 2013, 07:19:10 PM
Presumably Gox is having serious problems with the US regulators and banks, leading to thus far $5M seized. As a consequence, there are no USD wire transfers coming out of Gox.

Why is it, then, that Bitstamp is at the same time running smoothly its USD-denominated bitcoin exchange, and is able to wire me USD, working with those same US banks?

Either Bitstamp is on thin ice, but has not fallen through yet, or the official Gox story is not true.
111  Economy / Services / Re: Need USA citizen to do 1 hour work near computer for 2 btc on: August 31, 2013, 06:59:33 PM
I get 2btc + the value of cards from you. I order and pay for prepaid debit cards, providing my personal information. You use them for your purposes. I see a potentially painful problem here.
112  Bitcoin / Bitcoin Discussion / Re: Bitcoin 21 million limit and Zeno's paradoxes on: August 31, 2013, 06:51:39 PM
Cut a cake in half and then cut it into quarters and then eights etc - how many cakes do you have? It's still just one cake.
Zeno's parodox is not a paradox really - one cake is one cake irrespective of how much time you spend cutting it up.
However you are right - it will take an infinite amount of time to produce an infinite number of blocks.

...and that is all that really matters Wink
BTC is here to stay.
113  Bitcoin / Mining support / Re: Submerge your rigs in liquid on: August 31, 2013, 02:21:25 PM
About cleaning the mess: the liquid from OP is chosen as it boils at ~34C. You just need to warm up the gear above this temperature, and it all evaporates.
114  Other / Politics & Society / Re: a trivial change in language that would certainly cause world peace on: August 31, 2013, 02:07:36 PM
Interesting concept, however we should always remember that we are going to die. Even Ray Kurzweil.
How about replacing "saving a life" with "extending a life for at least one day"? A good start is the list of countries where people live on less than "dollar per day" - they got it backwards, but it's a start. They define poverty based on an arbitrary sum of dollars, we want to define a unit of account based on poverty.
115  Other / Politics & Society / Re: High ranking member of the Devil worshiper cult illuminati Donald Trump sued on: August 31, 2013, 01:58:21 PM
Illuminati planted the "ignore" button in this forum software... who knew?
116  Economy / Speculation / Re: 25k coins bought, $10 jump on: August 31, 2013, 05:51:57 AM
None of this explains why Bitstamp, CampBX and btc-e all recorded the same magnitude jump simultaneously

That is the way arbitrage works. The person who bought all those coins had to buy them from other people. Some of those people have fiat sitting at other exchanges. When their bitcoins are sold on Gox they buy the same number of coins at other exchanges at the lower price for an instant profit.
There is no profit, instant or delayed, unless they can move fiat out of gox, and into their own hands. Gox deposits are not insured. There is no arbitrage, there is only gambling on the fate of gox.
117  Bitcoin / Bitcoin Discussion / Re: Question for experienced users... on: August 31, 2013, 05:13:16 AM
It's no different than having savings in different fiat currencies. You choose which to spend, where, and if you are going to exchange first or spend directly - depending on convenience, fees, exchange rates, and maybe even tax implications. Say you are moving from the U.S. to Canada, or from Switzerland to France... You have savings in two currencies, and an option to buy before move, then import, or buy after the move, exchange or not, etc.
118  Bitcoin / Bitcoin Discussion / Re: Bitcoin 21 million limit and Zeno's paradoxes on: August 31, 2013, 05:05:54 AM
In other words, even with infinite precision, you might be adding fractions of a coin, and halving that fraction periodically, but you will never have a total more than some certain maximum, which is easy to calculate.
119  Other / Beginners & Help / Re: New guy here. on: August 31, 2013, 04:38:53 AM
Do you only emulate data corruption by digital means, or you use physical methods (faulty cables, EMI, gamma radiation, heat...)?
120  Economy / Service Discussion / Re: Tradehill and IAFCU? on: August 31, 2013, 04:24:37 AM
^^ Sorry, but you have a complete misunderstanding of what the court in the "pirate" case ruled with regard to bitcoin, as well as, how that decision affects the rest of the body of U.S. law / regulation.

Bitcoins are not securities, and no one has authoritatively said that they are.
This is what I thought, too. Nagle, can you clarify your claim? It's important.
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