I plan to hold until Bitcoin is fully adopted as online currency or dead. It's kinda lottery ticket stuff that way, losing never hurts  Signed. |
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Damn commies anyway!
We are coming after you, baby. MUAHAHA!! |
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Lemme guess: you would like a currency that everybody receives equally, at regular interval and till the ends of times?
No. Wrong guess. |
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People could just say: "this guy has gathered pretty much all the bitcoins. Screw him, let's start an other chain from scratch!"
People already did what you say. There is a separate thread on this forum https://bitcointalk.org/index.php?topic=134179.0I know they did. Then why do you whine about a possible corner of bitcoin? Edited my message, please reread. |
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People could just say: "this guy has gathered pretty much all the bitcoins. Screw him, let's start an other chain from scratch!"
People already did what you say. There is a separate thread on this forum https://bitcointalk.org/index.php?topic=134179.0 Unfortunately, none of these altcoins fix any bitcoin flaws. All this work is done by smart people, and they will find good fix against all threats, I am pretty confident. But, we are not there yet. |
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Oh, tell me more about how Bill Gates fortune is making you a slave...
Can you read English, dude? I wrote Is it wrong to be rich?
No. If you get rich without making somebody a slave, it's good. Like someone on this forum once wrote: Don't fear a man with money, he can only buy things from you. Fear a man with political power, he can take things from you with coercion.
A man with money has much greater chance to take political power than anybody else. |
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Also, the wealth of this person would existsonly because some people would be willing to offer goods and services for those satoshis. Therefore talking about "anal slavery" is totally inappropriate. A slave is someone who is forced to obey, not someone who willingly contributes to an economic exchange.
If you google for "history of humankind", you may find out that most of time people were getting into slavery pressed by financial force, not military or other brute force. This is how modern "democratic" world got into banker's slavery. Is a purpose of altcurrencies to free people from this kind of slaver, or did I miss something? |
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Why would that be a problem, exactly?
What? Getting your ass into slavery? For some individuals not a problem at all. But the majority do not like it. This is why all this bitcoin business came out, right? Is it wrong to be rich?
No. If you get rich without making somebody a slave, it's good. That shouldn't affect the rest of us one bit.
I don't know. There is a chance that it will. |
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Thanks, this clears the question up. This situation doesn't suggest, however, that the markets aren't vulnerable to price manipulation. It doesn't take significant amounts of money to move the market price up or down and thus Bitcoin remains a volatile asset.
Flawed by design. Guess, who is going to manipulate the market after all?  |
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The price can stay high/go higher until the influx of suckers ...er, buyers persists. Then the music stops. Moreover at any time the manipulator lose its control/property of any coin he sells/profit from.
The problem is that if some guy manages to get 51% of all bitcoins in his hands (difficult, but possible), and bitcoin value sky rockets such that few satoshis are enough for living, that guy can buy your ass into life-time anal slavery for a tiny fraction of his assets. Of course, if the manipulator has a money printer things could become interesting...
Yeah, such things are really interesting. Is not the original goal of bitcoin (and other alt-money) to make such things impossible? |
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Besides, as I bought up the coins the price would rise creating even more demand and encouraging more hording.
But this is exactly what you want to do to fuck up the community. You buy a lot, while bitcoins are cheap -> btc rate sky rockets -> you make profit, and others suck because they can not buy cheap btc anymore. |
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You don't need to buy all bitcoins to screw up the system. You just need to have more btc than anybody else. Then you can take control over major bitcoin services, manipulate exchange rates and do a lot of other bad things, making profit out of this. And if somebody forks bitcoin-2.0 (there are a bunch of them already out there), just spend some of btc-1.0 to get as much btc-2.0 as possible, while they are cheap, and screw up bitcoin-2.0 for profit too.
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At the moment there is about 40 000 bitcoin available on 'visible' market if they buy all of them price will sky rocket ....
Is not this exactly what is happening lately? |
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Yes, if I was US mafia, sorry, government I would mine and buy bitcoins like crazy right now, fuck the congress approval. And not to blow the bubble in future, but to make profit before Russian government, oops sorry again, mafia have all bitcoins.
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> Pays interest on Bitcoin savings Are you kidding me??  |
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This does not tell you much. Ok, there is a transaction every few seconds, many of which are Satoshi dice, but what are the others is not clear. Are people spending btc to buy something or are they just send newly mined or bought btc to their offline wallets? |
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at least 80 % are being spend everyday...
Proof, please? |
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Congrats, dude, we started a 9/11 flame. |
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Bin Laden was not decentralized. Bitcoin is.
In fact, Bin Laden was part of a very decentralized terrorist network. That's why it took 10 years to kill the bitch. Unfortunately, Bin Laden is dead, but his network is not. |
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1. Just a couple of $billions. Governments waste orders of magnitude more every year on shity projects. 2. Yes. If geeks like it, why do you think evil government would not like it? 3. Come on, it just a couple of $billions currently. The most democratic government in the world wastes $trillions every year. 4. No. I'll just convert all those "democratic states" into slave colonies, MWAHAHAHA!!!! Thanks for responding |
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