I can't believe Atlas successfully implemented a project that did not crumble into oblivion like a shoddily built IKEA table.
Hahaha. Ha. |
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Just keep an eye out for larger black holes appearing with a greater gravity.
There are only 3 possibilities for currency: 1) Inflationary, see $ 2) ~stable, see €. 3) Deflationary, see bitcoin, the only case resembling a blackhole. What would be a larger blackhole? A different and better cryptocurrency. I honestly doubt it would be possible for a different and better cryptocurrency to overtake Bitcoin. I can't imagine which kind of features this currency would possess which are so superior that people would prefer it to Bitcoin, yet somehow cannot be adopted by Bitcoin itself. Bitcoin is build on consensus and if there exists a serious possibility that it would lose it's value due to people abandoning it for something better, consensus would dictate that Bitcoin should adopt those features. And as the Bitcoin core developers are some of the wealthiest Bitcoin owners I'm confident they'll act swiftly should any threat emerge (as they did last week). The limited Bitcoin supply is also Satoshi's greatest trick. He realized that if the block reward would never end, there would always be a risk that Bitcoin users would prefer a deflationary altcoin since that would be more rewarding to it's miners and holders. I kind of agree. There's definitely something to be said for critical mass, and if Bitcoin gets big enough, it'll have plenty of momentum to carry itself through any feature advancements made elsewhere. Sometimes the king can be dethroned though... (MySpace) |
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Just don't own 21,000 BTC.... then you'd be the 1%! EVIL!!!
Imagine that Satoshi possibly could be in the 10% club – with only one member. Yeah and I got my number horribly, horribly wrong there. Should have been 210,000 = 1%. |
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Just don't own 210,000 BTC.... then you'd be the 1%! EVIL!!!
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Huh? How is this particular transaction linked to Sonny + Josh? |
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Knowing when to build from scratch and when to copy and tweak is a valuable skill to have. Hopefully, you can do both equally well.  |
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^Is the reasoning from the above point what causes crashes?
Yes. |
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This isn't even a competition. It's like a 2 year old fighting Muhammad Ali.
More like a 90 year old fighter leaning on a walker wondering who this upstart thinks he is messing with. True, I like that better. |
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This isn't even a competition. It's like a 2 year old fighting Muhammad Ali.
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Bottom line is, the Bitcoin price is unpredictable. People can make reasonable assumptions about where it is headed, but unexpected news tomorrow could greatly change the price either direction.
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How do I avoid uncle sam to stick its hand in my cookie jar and takes the tax share?
What if I don't report it?
Face to face trades. Of course, not paying your share into a system that you benefit from makes you a freeloader (or at the very least a leech). I'll gladly pay the transaction fees/withdrawal fees of trading my bitcoins into USD and then transfering USD to my bank account. I'm paying my share to the system I benefitted from, BTC that is. I didn't benefit from USD. So you don't use roads? You don't take advantage of the electrical grid? You aren't protected by the US army? You won't receive social security? /devilsadvocate This. What your trying to do is one of the main reasons government is against Bitcoin. Pay your shit like the rest of us and be thankful your in a country like the United States. I pay my taxes every year, bitcoin however is outside the government control. Worst case scenario I will withdraw in a tax haven account. So if everyone uses Bitcoin, then how will all the services that are paid for with taxes be completed? And don't get me wrong - I think the government could easily be 1/10th the size it is now, but I do believe that SOME form of government is essential for maintaining services like fire dept, police dept, roadways, utilities, national defense, etc. adapt, adapt, adapt.... did Mp3 killed the music industry? No, just tower records... did movie streaming kill the movies industry? No, just blockbuster... will bitcoin kill the governments? No, just some financial institutions... everyone evolves and adapts... Fair point. It will indeed be interesting to see where Bitcoin takes us insofar as government attempting to enforce taxation on it. |
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Not bad. Did you do the design as well, or just the PHP backend?
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How do I avoid uncle sam to stick its hand in my cookie jar and takes the tax share?
What if I don't report it?
Face to face trades. Of course, not paying your share into a system that you benefit from makes you a freeloader (or at the very least a leech). I'll gladly pay the transaction fees/withdrawal fees of trading my bitcoins into USD and then transfering USD to my bank account. I'm paying my share to the system I benefitted from, BTC that is. I didn't benefit from USD. So you don't use roads? You don't take advantage of the electrical grid? You aren't protected by the US army? You won't receive social security? /devilsadvocate This. What your trying to do is one of the main reasons government is against Bitcoin. Pay your shit like the rest of us and be thankful your in a country like the United States. I pay my taxes every year, bitcoin however is outside the government control. Worst case scenario I will withdraw in a tax haven account. So if everyone uses Bitcoin, then how will all the services that are paid for with taxes be completed? And don't get me wrong - I think the government could easily be 1/10th the size it is now, but I do believe that SOME form of government is essential for maintaining services like fire dept, police dept, roadways, utilities, national defense, etc. |
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I love that last paragraph... In a time when sending information via the Internet is virtually instantaneous and free, there's no reason you can not do the same with the money.'s "Bitcoiners" think Bitcoin is to money that what email is to mail . Why bother with an obsolete system, if all you need is Internet access and, after a simple click, in a few seconds we will complete any transaction? What sense does it deal with all the costs, risks and bureaucratic steps that accompany traditional methods, now we have to Bitcoin? |
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Amazing.
If they try that here in Australia my money will be withdrawn immediately. They can get stuffed.
That seems a lot like buying fire insurance if your house burns down. Well no, not really  There'll be talk before this policy is introduced (I have ears in the financial system as it is), and I'm sure they won't suddenly ban people from withdrawing their own money I know the sky is falling etc etc but let's try and have a little common sense at least. Erm... you know that they DID ban people from withdrawing their own money in Cyprus, right? |
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If Litecoin offers the same features of Bitcoin, but is faster, why would anyone want to use a slower software?
Because it probably cannot scale as well as Bitcoin can. The orphan rate is 5x higher because blocks are found 5x more quickly, which means as transactions scale up, people will see more and more transactions being reversed here and there, even after seeing one confirmation. Also, because Bitcoin is much more widely used. It's kind of like asking people why they don't use Google Plus. The answer is, "Well, because no one else is." |
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Why does your thread title say "Silver vs Gold", when clearly, that is not what you aim to discuss?
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Are those parity points at the current number of bitcoins or at 21,000,000?
Current number. If at 21,000,000, we've already surpassed $1B. |
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