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what if OP is actually falling?
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FALSE.
BitPay does not need to ask ANY fees from the merchant because BitPay sells the coins. BitPay dictates the number of bitcoins to be sent by the customer and BitPay can always ask a little extra to "cover the risk of 10 minute volatility".
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And of course, you could have inheritance tax so that after a few generations, there is nothing left in the hands of the original descendants.
Wealth should be kept in secret and only the wealth you need to spend in front of the society should be declared as income at the spot. Why? Because there is no way to enforce the opposite. Laws that cannot be enforced reliably should not exist at all. I'm pretty god damn sure the Rothchilds family won't pay shit to the government as inheritance taxes. Why should average Joes do that if the elites do not? Which country or countries are you talking about? In the US, I think the estate tax exemption is over $5M. So unless you own more than $5M in assets when you die, you don't have to worry about it anyway. Afaik, the point of such a tax is to keep "dynastic" wealth in check. Hmm, I don't know about such specifics but it's good to hear that. |
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And of course, you could have inheritance tax so that after a few generations, there is nothing left in the hands of the original descendants.
Wealth should be kept in secret and only the wealth you need to spend in front of the society should be declared as income at the spot. Why? Because there is no way to enforce the opposite. Laws that cannot be enforced reliably should not exist at all. I'm pretty god damn sure the Rothchilds family won't pay shit to the government as inheritance taxes. Why should average Joes do that if the elites do not? The fact that we have inflationary monetary system is simply to keep the poor in poverty. The poor will have to constantly beg for higher wages as inflation eats their income year after year. If the system was deflationary then wages should be lowered periodically and the employers (high-rank slaves) would become those beggars. Deflation flips the pyramid upside down. In my opinion, that's the main reason why deflationary monetary system is propagated as the greater evil. The latter, of course, is a conspiracy. |
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Just watched this: http://www.youtube.com/watch?v=yjWNhUVaJtsThe guy keeps saying that big governments fear deflation because it makes taxing a lot harder. Is this really a problem and a main reason why we have inflationary currencies instead of deflationary? In my opinion this fear of deflation is bullshit because what they really are afraid of is hyper-deflation. I'd say hyper-deflation cannot last for decades anyway as it's rather a one time event. Thus a deflationary currency would work pretty well as long as the deflation is small enough to make it pretty much useless to hold back spending in hopes of better prices tomorrow. Coming back to the video --- how is it possible that taxing gets harder if a currency is a bit deflationary? Why shouldn't people get richer with the money they hold? Why is this bad thing anyway? If the government holds the very same deflationary currency then all taxes it ever gathered will also gain value, thus there is no reason to tax the additional wealth people get thanks to deflation. offtopic: I think we no longer have taxes by the original meaning of the word because tax should be a one-time event. Instead, we have wealth-transfer friction and "tax" collectors are the source of that friction. That is because same money gets taxed multiple times as it changes hands. If I give 1 000 000 euros as a gift to someone, the government takes 20% and the receiver will get 800 000 EUR. Now if the receiver gives away that money to a third person as a gift, that third person also gets income taxed, so the government takes away another 20%. The third person ends up holding 640 000 EUR. Repeating the procedure a couple of times, the government ends up getting all the money. How is this logical? |
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Just dropped to $580 again..
Let's call it a weekend dip  |
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I feel really bad for the people over there! This is something that affects your life if you're living in such a country. I don't know if Bitcoin can alleviate some of those problems, but I don't exactly know how we're supposed to 'bring' them Bitcoin and help them subsequently...
If I recall my memories correctly then Argentinian chicks are pretty hot. They can always start a web cam show and earn some international bitcoins. Desperate times take desperate measures you know... To feel bad for someone else is really just an act of self-pity, which in turn originates from self-importance. I assume there is no need to explain why the latter is so bad, it should be self-evident |
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awesome, i wasn't paying much attention lately to the price, but its great to see bitcoin rising without much resistance after the drop a few days ago. i really look forward that we will finally break the 700$ again.
If we break even 666, the next bubble is as good as confirmed |
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This is it. The summer bubble is starting  |
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OK.. so on the front of pure unsubstantiated speculation....
1) buy OTC, sell on market to drive price down, setting artificially low "opening price"
2) "open fund"
3) buy on market for 30 days driving the price up
4) produce slick marketing campaign: " GABI UP 50% IN FIRST MONTH !!!! "
5) open fund for trading
6) profit.
Good idea but won't happen with perma-hodlers such as myself. During the last bubble some smartass attempted to buy a couple of bitcoins directly from me. I knew the prices would be much higher in 4 days that it would take to get the cash to the exchange and buy back the bitcoins. So I asked 20% higher price for the coins than the current market price was. The guy got pissed and said I'm asking too much. He later bought the coins with a credit card, I believe using btc-dealer.com (now defunct). Protip: when selling bitcoins OTC, always take a shit load of premium! |
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Newbies posting this graph is just a natural part of the cycle. I've seen this graph posted at least 20 times, all the way up from $5.
I wonder if we can predict future prices from the frequency of this chart being posted in the speculation subforums... |
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Haha, I got a personal e-mail from wikipedia for that reason They invited me to donate because some day in very distant past I had asked them about Bitcoin donations. So I donated 1$ worth of Bitcoins. That's why the recent drops, 1$ is a lot of money you know. |
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At least the volume is finally increasing |
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We've been stagnant for some time now and while the mining difficulty is ever-increasing it turns obvious that miners have to sell proportionally more and more of their bitcoins to pay for electricity. This is somewhat a vicious cycle because as the miners sell more the price goes even lower. 1st generation ASICs barely pay for their electricity these days. I don't know if this is the case with the latest dumps but it could explain slowly decreasing prices during low-volume consolidation periods, don't you think?
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2014 = 2 + 0 + 1 + 4 = 7
7 is the magic number
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HyperBitcoinization = the New World Order gone wrong.
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I can understand why you would want to get into mining, but I don't understand why you would choose BFL as the company to buy your miner from. That's like throwing your money away.
Because BFL wasn't always like that. In the beginning they had no bad record and they were pretty much the only company to develop ASICs. They fucked up with their 60nm product like, a lot. Ordering from them the second time was mostly due to their marketing trick and I figured that maybe they learned their lesson and now they will actually deliver in time. Also, if you have shit load of new wealth due to ongoing outrageous Bitcoin rally, you most likely act irrationally with it anyway. Emotions, you know |
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You would think that only newbies to Bitcoin google it so Google trends would only indicate new people interested in Bitcoin. However, with the news aspect of Google search many old Bitcoin users will also search for the term bitcoin again and again. As a result, the trend will be ever-increasing, don't you think?
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If you got the miner as soon as you bought the miner for 140BTC you probably would have made more than 10BTC; however, you must keep in mind that the reason you got such a low return was because of the shift in exchange rate from roughly 20$ to like 300$ by the time it got delivered.
I'm more than willing to bet that you at least broke even, or were close to it, at least based on the rough estimate of when you purchased and when you mined 10*15 = 150 -- close to 140.
Mining BTC is essential to our infrastructure -- it's just not economically viable, which is a damned shame.
Dollar-wise I made shit load of profits despite the fact I got the equipment a year after making the pre-order. The original SC costed me ~1400$ and it earned me ~6000$ in current prices (I haven't cashed out a cent though, so the profits may increase even more ). I'm supporting the Bitcoin network with my miner and it mines on a P2Pool to support decentralized mining and reduce the 51% attack risk. Also, the miner got me famous in my home country I got into TV for doing some weird stuff with computers, it was pretty fun but the fame aspect gets a bit annoying now that so many people recognize my face and start asking about Bitcoin mining, lol Speaking of mining, I also mine PeerCoins with the Proof of Stake aspect. It's much cooler than Bitcoin mining because it doesn't require a noisy ASIC and does not consume electricity at all. |
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