I think a wise guy once said "the love of money is the root of all evil" .... but yes it is a fascinating, yet powerful force (like splitting atoms).
That's a biblical reference, actually. It's a(n incorrect) paraphrase of something Paul said. A more accurate reference would be, "The love of money is the cause of all kinds of evil." It was not a condemnation of wealth, let that be clear. Lol, and what is the root of money? Good find. Money is a cool and fun thing. I can go down to the beach and I don't have to lug stuff with me to trade for a parking spot and burgers. Bankers could, in a sense, be the root of current and future evil. And that's where they are shills and slaves to a rotten economic system that's artificially keeping rates near zero, thus stealing from savers so that said government can spend without immediate consequences. |
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Yeah, in the US, we don't have a secret police force. Bad law, bag gov, bag police on occasion, but no secret police.
That is exactly correct. Come to Colorado and I'll roll you a joint. ROFL you mean, LEGALLY, which is totally cool. We do have a problem in the US with "practice swat team operations" on small time drug (read: weed) ops and the resulting no knock and wrong house raids, sometimes wrong house has caused deaths of innocents and of police. That's been a problem. I guess it's not any longer in Colorado. |
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I suppose he thinks that if something costing 10BTC were to cost 11BTC next week, that would be good.? He must love $USDs.
When Kruggie asks for his payment for shilling in BTC... You won. |
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I've got a Jalapeno on order since September 2012. The product was promised to be shipping in October, then November, then February, and now in April we still have no dates and BFL is having a lot of problems with power consumption. Not good news for a USB based product.
BFL has preorders since June 2012 to build, and they haven't built a fully working, ready to ship Jalapeno yet (as far as has been publically announced). You may be waiting many months for your order to ship, and difficulty is likely to be dozens, if not hundreds of times higher than it is today.
Victor Alpha Papa Oscar Romeo Whiskey Alpha Romeo Echo LOL |
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Now that's cool. Least this subject will get more attention. the only attention this seems to be getting is from people who do not accept the definition of the term police state: : a political unit characterized by repressive governmental control of political, economic, and social life usually by an arbitrary exercise of power by police and especially secret police in place of regular operation of administrative and judicial organs of the government according to publicly known legal procedures that is not in any way descriptive of the country in which I live. Yeah, in the US, we don't have a secret police force. Bad law, bag gov, bag police on occasion, but no secret police. |
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If there was a global deflationary event, what effect do you think this would have on Bitcoin?
This is of course should be taken as a rhetorical question, as clearly, a deflationary event would destroy Bitcoin in terms of its price.
Question is, how likely is it that a deflationary event is on the horizon in the near/medium term? Obviously, if not for central bank action, it would have occured already or be in the midst of occuring. But what happens when the central banks decide to let their money printing activities slide for a little while? Or perhaps when the markets themselves no longer abide by the interest rates being artificially held at historical lows due to the money printing?
The answer to this question should be crucial to any long term investor of Bitcoin. But how many of you are even asking it?
Let their money printing activities slide? They'll do that when the addicts stop sticking needles into their veins. |
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Single core processor speed as well as hard drive sizes have not significantly improved through the recent years.
That isn't really true afik.... And what sense does make a limited amount cryptocurrency make for sustained exponential growth? None, it has to either hit a ceiling or fade away. So ... SSD and bandwidth grow slower than bitcoin transactions? Or quicker? ... It isn't drive or bandwidth size that is relevant, but available excess capacity. If bandwidth doubles, but bandwidth demand quadruples, not good. |
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....me just trying to figure out how to stabilize bitcoin so that it can be used as described, It obviously was supposed to spread the wealth among the population, with greater and greater automation occuring the wealth of the world is being concentrated into the hands of the few causing massive inflation and instability in the economic system., the p2p Bitcoin system was supposed to counter that. ....
Man, that crazy talk. But I'll play. Please support the claim with direct quotes from the source. The proof-of-work(facts) also solves the problem...
What your lengthy reply was was an iteration of the general theory of and use of bitcoin. What it was not was support for your person opinions which I commented on and which I repeat in part. It obviously was supposed to spread the wealth among the population, with greater and greater automation occuring the wealth of the world is being concentrated into the hands of the few causing massive inflation and instability in the economic system., the p2p Bitcoin system was supposed to counter that. ....By the way, I'm NOT criticizing your opinions. I'm just saying they don't follow logically from the bitcoin model. Neither do we have direct evidence to support your views. Such as "Nakamoto SAID..." No, he didn't say. No, it does not follow. |
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hi everyone. I'm from Sweden. Actually I'm only trying to become a full member so that I can join the next giveaway of XRP's. Its hard work becoming a full member in this forum. But I'm trying.
I am not so impressed by bitcoin, been using it for years. But Ripple may actually become a success! Bitcoin and Ripple is like the yin and yang.
xrp??? |
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And now everybody is spamming here :Djavascript:void(0);
It took a while but my one brain cell is starting to get it. |
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HOW DARE YOU MONSTERS ATTACK MY PRECIOUS KRUGGY!?
That man is a genius! Why else would they give him a Nobel Prize? or a column at the best news source on the planet (the NY Times)?
Look, He's been right about gold being in a bubble, he's been right about our total lack of inflation, and 100% correct that we need to massively expand our welfare state by printing money.
IN FACT I wouldn't be surprised if he's right about BTC to. Based solely on that article, i'm considering selling all my BTC and buying shares of APPL instead.
Y'allz is chumps... chump-muffins even...
LOL Ya BUT there's something just wrong with anyone who finds Kruggie Simply Irresistable. http://www.youtube.com/watch?v=UrGw_cOgwa8 |
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All this show of force was unnecessary because one policeman would have been enough to arrest him.
The guy wasn't even found by the police but a random guy found him in his boat.
Exactly. All the wasted money from tax payers to pay the for fuel of heli's, tanks ect, taxes to line up these thugs with guns pockets was a huge waste of money. It took one citizen to find the guy vs 10,000 LEO's or how ever many leo's. I heard they even sent Chicago detectives and Chicago cops from Chicago over to boston, how much fucking money did that cost? Waste of tax payers money once again. Yeah, well, maybe. Problem is, nobody knew what they might be dealing with in any level of certainty. Armchair generaling after the fact is sooo easy. (By the way I am seriously opposed to the para militarization of the police). |
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From an informational perspective Bitcoin is identical to gold. Now this is purely from an information theory perspective. If the shit hits the fan and multiple EMPs pepper the globe then of course gold is the best.....
Not really provable. I rather imagine that an EMP would result in a lot of people who now sit on their fat asses in offices being out doing actual useful work, such as moving loads of grain to cities. And there'd be massive work to do, going out and testing and repairing all the computer based equipment, as well as fast building plants to produce large transformers. Those challenges would be met, not by governments but by the people. Chance is they'd use whatever currency was handy.
the failure of fiat money is mathematically CERTAIN! It is just a matter of when. What pisses me off is that the schemes originators knew full well that it was destinned to fail. But they couldn't giva a f*ck because they would not be holding the shitty end of the stick!
I say the new money should be the shrunken heads of bankers!
Mathematically certain? Not really, what happens is a substitute currency is put into use by the people. Over time it becomes accepted that money X is rather better than money Y, and the point is reached where the new "good money" is even accepted by governments, like for traffic tickets. At that point the old currency is doomed, but usually there are efforts to prolong it's death such as by forcing the people to exchange the "Bolivar" for the new improved "Bolivar Fuerte". What that substitute currency might be is the question. In many countries and places, it has been the US dollar. Certainly it could be another fiat currency, or group of them. It might be something the UN tries to promulgate. It might be that several currencies coexist forever. |
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Does Krugman believe his own BS? I kind of wonder... Everybody has their price.
Given that his own BS continually changes with the latest socialist scheme or money printing scheme, I've always had to view him as an apologist for the socialist powers that be in the US. That's a JOB. I imagine it pays well in various under the table ways. |
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yes got to love bitcoin...how could you not love it?
They are so cute and nice and cuddly. |
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No one. This is uncharted territory
Many have gone into uncharted territory in history. They simply charted it. |
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....
Simple law of nature - everything could fail. Nothing is certain.
The common currencies are not 100% although there are 3 levels of backup for them.
The whole deal with human societies right now is a house of cards. It's all in our heads and does not really exist.
House of cards? Given structures are, yes. But the human has built in compulsive striving to build, to design and create, and to organize things. Many a huge city has been flattened in war, then rebuilt better within a decade. This reality does exist. Any given structure is of course, temporal. |
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....me just trying to figure out how to stabilize bitcoin so that it can be used as described, It obviously was supposed to spread the wealth among the population, with greater and greater automation occuring the wealth of the world is being concentrated into the hands of the few causing massive inflation and instability in the economic system., the p2p Bitcoin system was supposed to counter that. ....
Man, that crazy talk. But I'll play. Please support the claim with direct quotes from the source. |
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Is buying 4000 bitcoins accessible for everyone? I mean lets say that I just made a new account and I wanna 4000 bitcoins and then transfer to someone else who also has new account. Is that possible? On some websites like mtgox.com I read that there are some limits and they even say: If you wish to increase your withdrawal limit you will need to send us a copy of your official government photo ID (such as a scan of your passport and/or drivers license) plus a copy of your utility bill (private) or corporate information (company). But lets say that my account is not verified. What are the limits? Check the current limits at mtgox or your choice of exchange. I think they are 100 bitcoin withdrawal limit per 24 hour period. So you buy them, then pull them out at that rate. |
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