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161  Other / Off-topic / Re: What Song are you Listening To? on: August 06, 2014, 01:36:01 AM
Loud by Mac Miller
162  Other / Off-topic / Re: 100 days on Bitcointalk on: August 06, 2014, 01:01:08 AM
OP is far from  a highscore. I just saw that one guy has 930 days logged :O
i cannot imagine being on here for that long. This is a great place to hang out but that is over three years.
I highly doubt that his stats are true valid, he probably uses some reloaded on his browser or something.
Who would spend 3 years on this forum, while it's been here since for 4 years ('10).
I agree, that would mean you would literally need to spend your entire life on the form except the time you sleep.
163  Economy / Speculation / Re: $500,000 per Bitcoin, baby. The math behind it. on: August 06, 2014, 12:56:10 AM
Your ownership in stocks really is as secure as you need it to be. Having your trading record embedded into the blockchain really is overkill. There are enough regulatory and internal controls that you can be certain that your shares are safe (you always have the risk that the share values go down).

No there are not.
Don't just believe, do research
Can you give any examples of when stocks were lost due to a brokerage failing? If so then why is holding stocks in certificate form sufficient?
164  Economy / Economics / Re: "Treasury Securities" vs. US National Debt on: August 06, 2014, 12:53:58 AM
Unfunded liability such as social security and pension are not counted toward the National debt figure.

The money need to be printed in the coming years will be staggering as baby boomer starting to retire.

Actually, the money spent by the Fed on assets was essentially "printed" though technically "created" by Bernanke pressing a button.  This is why so many people thought there would be a lot of inflation right now in the USA.  However, the velocity of money dropped and so inflation has yet to show up.  This has enabled left of center economists like Paul Krugman to claim that more of the same is needed to create full employment.
This still does not account for the unfunded liabilities. Our country needs serious entitlement reforms in order for us to be able to continue paying our bills.
165  Economy / Economics / Re: How much do you value your credit score? on: August 06, 2014, 12:50:21 AM
I used to care, back when I thought it meant something, and I have always had a fairly high score. In recent years I have been extricating myself from the credit economy. Since then I have more money than ever.
So when I was looking at large real estate tracts for sale I became curious about my score. When i checked I was delighted to see that I no longer have a score. Because I don't use bank credit I am simply rated un-scoreable.  
I could not be happier. I don't want a number from the same industry that puts out LIBOR scores and other works of fiction. What about you? Do you value your credit scores?

Credit scores are just a measure of trust much like the trust ratings buyers and sellers in this forum use. If you want to borrow significant amounts of money without collateral, you need a means of proving you are trustworthy. Credit scores may not be perfect, but they do help lenders manage risk.

I agree, they are a sort of measure of trust, only thing is the laws are written so that the lenders have no risk whatsoever.  If you default on a loan, the only thing guaranteed is that the lender will get something out of you, and probably ruin your credit score for years to come in the process.

True, but when you borrow money you assume the responsibility and risk for that money. That's just the way it is, and probably the way it should be.

Yeah but take a hypothetical mortgage foreclosure situation:

A 150k mortgage goes into foreclosure after 10 years.  At an interest rate of 4.5%, you've already paid the bank over 90k back.  Yet the laws still allow them to take the house completely, ruin you financially, and leave you with nothing.  They now have the house, and you have nothing, just out 90k.  So in essence, banks have no risk when lending.
This is not true. If there is enough money to pay off the loan then any excess funds are given to the borrower. You also fail to account for the fact that most of the 90k is interest and not really paid back to the bank but rather additional amounts owed by the borrower.
166  Economy / Economics / Re: Selling call options on your bitcoins on: August 06, 2014, 12:34:30 AM
I just sold a call option to a forum member. Deal was by private negotiation. It is not that hard.

Excellent.  I agree the deal is not hard, the only issue is their confidence in you to deliver.  I know you don't want to give away any details, but in general terms how you handled the "trust" aspect of the arrangement would be helpful.

Good Luck!
You should really use escrow for these types of long term deals.

I would be like to know how much you sold the option for and what the terms of payment are.
167  Economy / Economics / Re: Is there room for a State Run Cryptocurrency? on: August 06, 2014, 12:00:06 AM


Did you forget about your own claims dude? I was not talking about privatizing profits, which you obviously failed to see, but was talking about just one particular example of socializing losses, i.e. socializing bank debts. Nevertheless, I'm pleased that you finally looked at what Google says about this notion.



Your claim was that if FDIC fund was insufficient the Fed would print money to lend them.  This is already not true.  Credit comes from the Treasury who can not expand money supply

Even IF this was true, then its the FED that holds the debt not the public. 

IF the FDIC is borrowing from the public then the public is holding debt making it an asset for the public (not a liability). 

Debts & losses  are not same things.  Loss refers to income.  Debt refers to asset / liability.  You can't use these terms interchangeably unless you don't understand accounting

Please, if you have a point then explain yourself instead of giving straw men 

Haven't I already explained it that the Fed would print money for the FDIC after Congress would pass a corresponding act in case there is a need for such a legislation? Where did you get that the FDIC would be borrowing from the public? Please show me that part. Debts incur losses (if not paid indeed), they are just the two sides of the same coin. And if loss refers to income (according to your words), what the heck you began talking about losses when we were talking about debts?
If it comes down from it the FDIC would need to borrow money from the government via it's line of credit at the Treasury. Since the government is run "by the people and for the people" and since the public pays taxes to the government, the FDIC would essentially be borrowing from the public.
168  Other / Off-topic / Re: How much time you have spent in jail on: July 27, 2014, 05:24:35 AM
None. And I don't plan on ever going to jail.
169  Other / Off-topic / Re: What's your favourite candy? on: July 27, 2014, 05:18:21 AM
I love candy canes Wink
170  Other / Off-topic / Re: Israel requires its citizens serve in military when they turn 18, 3 years for me on: July 27, 2014, 05:09:56 AM
Israel requires its citizens serve in military when they turn 18, 3 years for men and two years for women. why ?
They have the need for people to have to serve. The US used to have a draft that made most young men at the time serve in the military because we were at war.
since Haamas is at war with Israel they need a lot if soldiers to fight for their country and religion.
171  Other / Off-topic / Re: guess satoshi's nationality on: July 27, 2014, 05:02:03 AM
I think he is from England. He wrote in similar ways that the British write.
172  Bitcoin / Legal / Re: mtgox criminal investigation? on: July 24, 2014, 04:24:57 PM
interested to know this but in real they of course anonymous way and i think will really hard to get some from them to know the thief . or maybe the thief in other country and maybe thats manipulation to . or maybe the owner act like get hack and he moved they money in other place .
this never  will be do.
if they lost the bitcoin from malleability then the coins were not lost to one attacker but rather many if their customers some of whom did nothing wrong
173  Bitcoin / Legal / Re: HOW TO: Submit Public comment to NYDFS on BITLICENSE. regulation affects us all on: July 24, 2014, 11:28:34 AM
"We all know that no matter if 100% of law-abiding, non-crony public commentors sent in opposition to your tyranny, you would still engage in it. The End."
The regulators will take what you say i to consideration provided you make a good argument and are coherent
174  Bitcoin / Legal / Re: NYDFS form for submitting comments on bitlicense on: July 24, 2014, 11:17:59 AM
I would suggest actually reading and understanding the regulations prior to commenting otherwise you will sound like a fool and will likely be ignored by the regulator
175  Bitcoin / Legal / Re: Purpose of Bitlicense Regulations on: July 24, 2014, 11:06:52 AM
The purpose is to make sure banks are the only ones that can handle bitcoin, and the other purpose is to keep the state tax revenue enough to pay Lawsky wages.
this is the opposite of what the regulations do. It would be unprofitable for banks to hold bitcoin because the regulations do not allow fractional reserves
176  Bitcoin / Bitcoin Discussion / Re: 51% Attack - Why isn't anything being done about it? on: July 24, 2014, 02:13:32 AM
Ghash is the closest and they have said that they will be reducing the amount of miners if they get closer which they have been doing which I think is good as they own most of the hashing power right now but even if they didn't do that and had 51% it doesn't mean they could do the actual attack there is still some luck that they would need to perform the attack I honestly believe this attack has no threat to Bitcoin at the moment.

Ghash won't do a 51% attack even if they could just because they earn money through bitcoins.
By double spending they would decrease the trust people has in bitcoins and their business won't work anymore.

It's true but they have already made their bucks and if for some reason they lose a lot of their money and or get screwed by someone whats stopping them from going AWOL and attacking Bitcoin?
ghash is continuing to sell more of their mining chips aka their GHs as they buy them from bit fury so if they are not reputable they will not be able to sell this mining capacity
177  Other / Meta / Re: Congrats hilariosandco on: July 22, 2014, 03:24:23 AM
Congrats!

You def have earned it Smiley
178  Other / Meta / Re: remove limits from bitcointalk.org account on: July 22, 2014, 01:26:38 AM
Once you get at least 16 activity (should take 2, 14 week periods assuming that you post at least a total of 16 posts and 1 post in each period) you can post every 74 seconds

The limits are designed to prevent spam and to prevent people from scamming in mass

BOOM! Does this also apply to limited amount of PMs you can send within an hour?
Yes. If you send a PM, then it will start the 360 second timer over again, however newbies also have a 5 PM per hour max above the 360 second limit.
179  Other / Meta / Re: Unofficial list of (official) Bitcointalk.org rules - Work in progress on: July 22, 2014, 01:10:38 AM
This is great. I think the list should be vetted by forum administration and stickied.
180  Other / Meta / Re: How to get faster pms instead of 360 second lag? on: July 18, 2014, 11:00:20 PM
I have a few pm's that are taking forever to respond to, 6 minutes between responses.

Is there a posting level trigger that allows a faster pm response than 6 minutes.

I HOPE SO

Thanks

The time limit will be lowered from 360s to 75s when you have 15 activity, and you can get there in 3 days on Jul 22. Smiley
You actually need to have 16 activity and the limit is 74s.

https://bitcointalk.org/index.php?topic=253190.msg2702160#msg2702160
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