Bitcoin --> Gyft Card --> Zappos --> Done
But I guess they don't know that yet.
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Another contender here for the bitcoin press awards headline category.
I love reading the frustrated sceptics. The mental anguish is palpable. The narrative is all planned out in advance but none of the facts they dig up corroborate it. We're left with what colour pants they wore as an argument against the currency.
"Why won't it DIE? We said it was going to dammit!"
Hahaha, yes - as predicted, earlier pronouncements of Bitcoin "dying" will no doubt cause some rather acute embarrassment as the internet NEVER forgets. They deserve every bit of it.
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I've said before that I'm sure I'll witness in my lifetime a sovereign state adopting bitcoin - just don't know exactly when.
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Nothing will slow Bitcoin's adoption now. It will grow regardless of what people say. The technology is so strong that it will win out by itself. If not Bitcoin, then another cryptocurrency. The idea is here to stay. What is dangerous is how it will grow. If Bitcoin grows completely in white market, becomes totally regulated and everything then we lose any power that we gained with Bitcoin. We have to stress and force its growth in the right direction otherwise the movement will become hijacked and amount to nothing useful whatsoever.
While I agree Bitcoin is gaining momentum, the "regulation is death" part is vastly overstated - If anything, it will provide the panacea that governments require to think they've "tamed" bitcoin - all the while it will eviscerate their controls and currencies. Also, I've seen you referred to in interviews as a core bitcoin developer - could you please correct them on that point? Or at least point me to the submissions you have on GitHub to prove otherwise. I take a dim view of someone riding on the coattails of false credibility, regardless of how many bitcoin-centric projects you undertake.
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I'll say it one more time: we need to cut Bitcoin's apron strings. We can't trust the US gov with this, it's far too important.
The US Government is merely a gnat-fart in the great bitcoin hurricane. Slight impact, minimal staying power.
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And when you hear them talk it is clear they are just in it for the money. There is no passion in their speech (if you can even call it that). I would be VERY VERY careful of these guys. They have millions and millions tide up. They are looking out for themselves first.
Not saying to get them out (to early for that), but they need to be kept a close eye on, very close.
Was that annoyingly nested quote-block from hell necessary? Also, would it be surprising that someone who invested a million dollars was in it for profit? Do you understand how investment works? As for their fundamental basis for investing - who knows, that requires a level of personal information that probably isn't available to anyone except their closest friends. It remains to be seen whether they're a benefit or a hazard.
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If the Chinese are smart enough to use Bitcoin they should make money like anyone else will. They would like to destroy the US Dollar but it just isn't going to happen. Bitcoin isn't a replacement. Just another tool to diversify and create wealth from nothing. Only the money doesn't just go to the elite it will go to those that have the coins. It might even save the US from a potential collapse.
If China buys up Bitcoin it is only good for us as it will make Bitcoin more scarce quicker. Many other countries world wide (like India) are using it. Let's say you are working in the US and you want to send money half way around the world to your relatives etc.. The cheapest easiest way is Bitcoin.
I'm sure England thought it would be preposterous that their "sun never sets on our shores" empire would decline and be marginalized, along with the Pound Sterling. The dollar is on the way out, and someone or something else will replace it on the global stage - this is for certain. The only question is, what and whom - and I think Bitcoin has a damned good chance of being involved in that particular bit of financial calculus.
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Lobbyists don't do what many people assume they do.
A good lobbyist does not work in ways that are outwardly immoral or illegal.
They are masters of explaining to congressmen how a certain situation is unfair. They appeal to a congressmen's idealism to sometimes persuade them to do the right thing. The argument is always framed so that the desired action is the right and fair thing to do. Through certain manipulations sometimes this system is abused, but the driving force of it remains idealism and not corruption. I hope the foundation is successful because there appears to be a lot of unfairness in government's handling of MtGox up until now.
Sorry, but I once knew a lobbyist and asked him point-blank "What determines the client you take?" he replied "A check." Its about cashing in and doing whatever is needed to score those paper tokens.
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There is huge majority of engineers, technologists, scientists amongst the Chinese communist party leadership. I think like 8 out of 10 of the top guys are technical.
Maybe they just "get it" so do not feel threatened ... unlike western countries that have leadership riddled with technophobic lawyers, bean counters, humanities, polysci, MBAs, etc?
The stats here back that up: http://bitnodes.ioI didn't expect China to be number one - I thought perhaps Russia and then the USA. Not so. There is one thing about bitcoin - it requires you to have a functional logical mind, which the Chinese have in abundance.
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I can't help but think this is a massive waste of money. It isn't just because the USA political process is broken, its just a matter of numbers. Unless the Bitcoin Foundation can match the funds of the conventional financial system (Banks, Trading Firms, Exchanges), then any lobbying effort will fail. Policy in America is decided by who has the deepest pockets, not by who is "right". It won't matter much anyway, because the Bitcoin phenomenon isn't just USA centric, thank Satoshi. Node Graph: http://bitnodes.ioLobbying Reference: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/05-2/Lobbying%20ROI.jpg
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I'd rather support a group of enthusiastic bitcoin-oriented lawyers than the EFF. I'm sure there are some recent law graduates that wouldn't mind making a name for themselves, and considering the glut of newly-minted lawyers with falling prospects of employment -- why not just shift to bitcoin and set some new precedent, build a practice around it?
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This is one time where policymakers being totally ignorant about the internet actually works FOR us.
By the time they try to "do" something, it will be hilariously too late - the network is too widespread now. Couldn't happen to a better group of bribed jackwads.
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This is international acceptance: http://bitnodes.io/Graphs bitcoin nodes not totally hidden by Tor, etc... Interesting distribution, also shows that China is really up there - and I didn't expect that so soon.
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Everyone seems to miss the glaring point about "working with" the existing financial system.
It is all temporary. Bitcoin is the "poison pill" that will kill the host that doesn't adapt. So while the government and sundry financial services will be trumpeting success with Bitcoin's "taming" - what they're really enabling is for a bridge to exist between the old and the new, with the new eventually overwhelming the corrupt system.
Bitcoin is here to stay, and it doesn't matter what kind of slice the old bastards take out of it - it will be their downfall.
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Anyone who keeps a balance on any exchange, in the form of BTC or < insert currency >, should realize that these funds are at risk, and can be "ghosted" at any time. Don't have anything there that you wouldn't be comfortable losing. Given the history of Mt. Gox specifically, I'm amazed that anyone still does.
Dwolla is bad news, period. Using them for any transaction related to BTC carries the same risk. Perhaps this DHS incident will remind people of this fact.
I'd also extend this to the conventional banking system. Don't have anything in there beyond what you can afford to take a 'hit' on. The cold winds of "bail-ins" and other financial chicanery are blowing, and it is just a matter of time before they touch every banking system on the planet.
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What I'm really trying to say is that we use Bitcoin under the premise that it was created with noble intentions for use as a currency free from government control and manipulation. We believe that just because we do. BUT - that might just be what the creator WANTS us to think and this could all be part of some secret plan where the endgame hasn't happened yet. What I'm saying is that we accept that bitcoin exists for a good purpose but that might not be so. The REAL truth is unknown.
Yes, and every atom of oxygen you inhale may actually be seeded with the mind-control drugs of.. < insert paranoid nightmare > You don't exactly have any kind of "insightful" look into bitcoin, more like the ramblings of a paranoid person wandering the street. Get back to us when you have something real, eh?
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Call me old-fashioned, but I honestly cannot trust a "modern" company that does not have a twatter account.
I'd find it actually refreshing they didn't run head-first into the echo-chamber that is Twitter. But then again, I already have read the studies that show small percentages of actual "signal" in that wonderful social experiment.
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Taking images of charts and drawing lines on them? Looks like you're doing exactly what you need to do.
Now just start talking about patterns observed in your cherry picked snippet with any combination of adjective and shape. "That's a Bear Triangle!" "That's a Bull Ellipse!" "That's a Pensive Spheroid!" Don't worry, there's no standard duration, axis transformation, or trendline function. Feel free to plot log time against the square root of price for the last eleven minutes if it helps you illustrate your point.
It is important to end your TA post with an extremely strong, very bold statement about where the price is going. It's also important to be vague so that you cannot be held accountable later. But most importantly, this is the Economics Speculation forum on bitcointalk.org, so it is of utmost importance that you are making a bullish prediction. If you are making a bearish prediction, your methods will be criticized.
Hope this helps!
Yeah - you're a *great* help. <.<
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Bitcoin could have been created by corporate elitists for all we know. With so little information, everything being claimed about "satoshi" is just hearsay and there might not be a "satoshi" at all. The truth is we don't know who/what created bitcoin or what their intentions are/were.
Seeing how brain-dead the "corporate elitists" are, I'm pretty sure it wasn't their brainchild. Unless you think MBA's can outprogram actual developers.
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Interesting press release. To me it looks like a new parasite searching for hosts, but I'm old and cynical. Perhaps there will be a wonderful symbiotic relationship between this, um, service provider and the BTC community. I'll watch from the sidelines though. Harumph.
I enjoy your skepticism - because there's always some kind of agenda brewing when you're talking about an established organization.
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