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1361  Other / Politics & Society / Re: Paraguayan 11-year-old gives birth after pregnancy sparked abortion debate on: August 15, 2015, 10:58:08 AM
She was denied permission to abort.
Catholic country only allows abortion if pregnancy is ‘life-threatening’


This should be the first to change. Lunatics shouldn't be allowed to frame laws depending on their religious beliefs.
If it was somebody rich, I guess she would have just flown out of the country to take care of it.
1362  Other / Politics & Society / Re: World war brews in space between China, US and Russia on: August 15, 2015, 10:52:26 AM
It is better they carry out their sparring in Space, rather than on Earth.
There aren't enough countries who have a presence in space for this to be called a "World War".
1363  Bitcoin / Bitcoin Discussion / Re: Is wealth boring? on: August 15, 2015, 05:50:33 AM
When you have enough money for your life, new kind of problems starts to poppin around you. I ain't seen a millionaire living without problems.

Wealth always attracts trouble, especially socialites from what I've heard the moment you become wealthy everybody suddenly wants to be your friend and of course they're all a bunch of sychophants disguising their real intentions, must be pretty exhausting. Then of course there are communists and governments out there who think they have every right to steal that wealth just because you have it.

Wealth can buy protection as well. Smiley
As long as you are healthy, everything is fine. The other problems can be solved with wealth.
1364  Bitcoin / Bitcoin Discussion / Re: What's your biggest problem with Bitcoin on: August 15, 2015, 05:48:19 AM
During spam attacks, the confirmation speed is very low.

Can't it be done like litecoin where we have to pay extra to send dust transactions.
It is a good method of preventing spam attacks, in my opinion.

Bitcoin is something which evolves over time. If you want your transaction confirmed quickly, you can always send it with a higher fee.  Smiley
1365  Bitcoin / Bitcoin Discussion / Re: Could Bitcoin Crash Gold? on: August 15, 2015, 05:38:39 AM
If Bitcoin becomes the store of value for the majority of the under banked and unbanked, it could replace gold as the preferred medium for storing wealth.

That is a big if. There is a reason why there is under-banking prevalent in many parts of the world. It is probably because of low ticket size (not worth the bank's time) or tough regulations (too much effort for the ticket size). So these people don't exactly have a lot of wealth to store.
1366  Economy / Speculation / Re: You all know it's going to crash? on: August 11, 2015, 04:53:55 PM
Looks like 260 is the new 280. Will we go up or down? That is the question. From the January's low of 157 to the recent high of 315, btc price seems to be stuck at the pattern of lurching forward and jumping back down again. It's indicative of pump'n dump activities as well as market manipulations by the whales and other malfeasant creatures. There's nothing good about the whole situation, in fact the whole cryptocurrency thing reeks of cancer. Not to mention the scammers, drug dealers, child pornagraphers and terrorirsts who have carved out a market for btc for their nefarious activities.

You know you are supporting these hellish people every time you buy and sell bitcoins and altcoins?

$260 will be the new launchpad.
People who are waiting for $200 bitcoins will grow old waiting.
1367  Economy / Economics / Re: Bitcoin smashes Chinese Yuan,, suffers dramatic Plunge on: August 11, 2015, 04:50:55 PM
The Yuan dipped because the Chinese government wanted it to. No other reason.  Smiley
1368  Economy / Speculation / Re: Multiplying the price by 10 after each halving, is it right ? on: August 09, 2015, 09:32:52 AM
Hello,

I saw people talking about multiplying the price by 10 after each halving.

Let's say before the having we will have a price of $250 for example, then the rally after the halving would put us at $2,500 and so on.

Is it right ?

I'm trying also to figure a mathematical equation where how will the price moves after halving, in theory.

I think it will go up, its hard to find a reason why it wouldnt push the price up, if we look at litecoin it can be a good measure.  Maybe we would have a spike before the halving even happens.

Yes, the price will go up in anticipation of the halving. You can not be sure what will happen on that day.
1369  Bitcoin / Legal / Re: Australia Ready to Treat Bitcoin as a Regular Currency on: August 09, 2015, 05:05:40 AM
Very good to see!  Mainstream adoption is growing, now officially planning my next vacation for down under!

Color me doubtful that anything original will come from australia. Up until 50 years ago it's politics and legislation was copied from the UK, and in the last 50 years they have copied from the USA.

It is better to have good legislation, rather than original, but bad legislation. As long as they realize what is best for their country, nobody can fault them for it.
1370  Economy / Speculation / Re: Quit your holdings of ponzi bags, DOOMED you is!!! on: August 09, 2015, 05:03:17 AM
It is not funny, even for long-term holders, when your MTM losses increase on a daily basis.  Cry
I try to find it funny because it's good for my investment strategy. The only reason I've made any money out of bitcoin is that I don't sweat the small stuff, and then just cash out a little on every 10x increase. If you don't laugh you'll cry!

Every 10x increase...
I doubt if I will ever be able to see something like that.
1371  Economy / Economics / Re: Super Thursday: Bank of England votes 8-1 to hold interest rates on: August 09, 2015, 04:19:38 AM
There's a whole generation of people who've grown fat on low rates. Should a proper spike happen it's not going to be a pretty sight. I think the powers that be will happily send our entire future down the tubes to make sure it never occurs on their watch.

The threat of disruption to markets due to a spike in interest rates, will force the Bank of England to raise interest rates very slowly, when it does happen. The hard decision to raise interest rates will just keep getting postponed, until it is too late.
1372  Economy / Speculation / Re: Multiplying the price by 10 after each halving, is it right ? on: August 09, 2015, 04:18:47 AM
so many people seem to have very unreasonable high price predictions due to the halving next year. demand must be there to go up significantly.

Yes, people are so focused on the supply side of Bitcoin, they tend to forget the demand side.
If demand declines then the effect of the drop in supply would be understated.
1373  Economy / Speculation / Re: Down we go - sorry I was wrong on: August 09, 2015, 04:16:00 AM
It looks 287 didn't hold. Down we go.

Panic time. Sell!  Smiley

The drop to $260 was unexpected.
Just when I thought we should be on the way to $300+. Smiley
1374  Other / Off-topic / Re: Stealing data from contactless cards is easy, experts warn – are they safe? on: August 09, 2015, 04:12:19 AM
This is one reason why chargebacks are important.
With normal credit cards, a simple swipe across a skimmer could compromise all your data. Turns out contactless cards are not safe either. Two-factor authorization is a pain, but a necessity to prevent credit card fraud.
1375  Bitcoin / Press / Re: [2015-08-07] Overstock CEO Uses Bitcoin Tech to Spill Wall Street Secret on: August 08, 2015, 09:09:15 AM
Remind me not to piss of Patrick Byrne. He is surely stepping on some big toes, in doing this. Will the middleman take this laying down? It has definitely have some perks for everyone now, and not just for the Goldman Sachs and Morgan Stanley's of the world.

I guess Wall Street will just counter this, as the banks did with Bitcoin. Steal the concept and apply it themselves. Why do they need to work through Patrick Byrne to do this, if they can use the Blockchain to do it themselves.
It's going to be interesting to see how this play out. ^hmf^

"The banks?" ... what has any bank done with bitcoin exactly besides allowing a PR agency or two to say they're investigating?

What they disclose to the public is far lesser than what they actually do. Goldman Sachs conducted a session on Bitcoin to its top clients far before they even acknowledged that something like Bitcoin exists. So you can't be sure what they are up to.
1376  Bitcoin / Press / Re: [2015-08-07] Japanese court rules bitcoin not worthy of legal protections on: August 08, 2015, 09:04:34 AM
A Japanese court came to a surprising conclusion, ruling that bitcoin is not a tangible property worthy of legal protection, which stands in contrast to rulings in the United States and elsewhere which have determined that bitcoin is a valuable commodity worthy of legal protections.

https://99bitcoins.com/japanese-court-rules-bitcoin-not-worthy-of-legal-protections/

This is a surprising decision. I am sure that bitcoin users who lost their coins in Mt Gox would go in for appeal against the decision. This may not be the final say on the status of Bitcoin.
1377  Economy / Economics / Re: Whats the total dollars in the world? Is it a negative number? on: August 08, 2015, 08:47:10 AM
If the value of a dollar is positive, and the total number of dollars is negative, then the total value of all dollars is negative.

Is there a total negative number of dollars in the world?

If so, then maybe everyone should put them in the garbage since the total value in the world would be higher, if their total value is actually negative.

The problem is that the US has a large 'negative' number of US dollars, while the rest of the world has a 'positive' number. So what you suggest would only help the US government, while punishing foreign governments. Not in the best interest of the whole world, is it?
1378  Economy / Economics / Re: Does Bitcoin need a new theory of money? on: August 08, 2015, 08:41:13 AM
So for bitcoin the theory of money is :  As long as its economy grows, there is no upper limit for its value

Wait till banks and fractional reserve banking come to Bitcoin. The limited supply won't look very limited after all. Smiley
People used gold as money for a long time... Until bank notes backed by gold started circulating. We all know where that ended.
1379  Bitcoin / Bitcoin Discussion / Re: Bitcoin Cannot Be Deleted on: August 08, 2015, 08:34:21 AM
There seems to exist a subconscious inhibition which whispers to the individual, "Bitcoin might end. Bitcoin might die. Bitcoin might go away. All of this might be imaginary," but upon close inspection i find that the fear evaporates like a vaporous apparition.

I cannot conceive of a scenario in which bitcoin is entirely eliminated.

The only scenarios I can conjure are two: A catastrophic event that eliminates all electronic devices on the planet simultaneously, and the possibility that the bitcoin protocol and cryptography is "broken" either by exploitation of an unnoticed bug or by the invention of a Quantum Computer that is able to overwhelm the system in every way controlled by attackers.

i can conceive of no others and these seem so unlikely as not be economically worth worrying over, can you think of more?

What about a 51% attack, where the attacker is bent on destroying Bitcoin?
He might lose a lot of money, but if that is his intention, what can stop him?
1380  Bitcoin / Bitcoin Discussion / Re: Bitcoin Gets Equal Billing with Land, Cash, as "Safe Haven" on: August 06, 2015, 12:29:31 AM
a good time to buy Gold in these days. alot of bearish news.

The outlook for gold is still negative.
Most analysts expect the bear market to extend.
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