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I was thinking about setting up an escrow service for my local jurisdiction's person-to-person trade of bitcoin when something interesting occurred to me. All I would really need to show that the service was trustworthy was a basic transaction log and the block explorer.
What do you guys think a world would look like where everyone can see what everyone else spent their money on. They could see you paid for a nose job, you could see they are tiling the kitchen, you could both see the CIA trying to pay to overthrow some poor country. Taxes would be inescapable but successfully hiding the mismanagement of government funds would be impossible.
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Hold up,
If I copy something that is a trade secret that gave a company a competitive edge, one they laboured into existence, they lose that edge. That edge was a scarce resource. They produced it at cost in time and resources, I reproduced the information the edge derived from at no cost, while still leaving them with a copy of the information, but no longer with the intangible that lead them to labour to produce the information to start with.
Trade secrets eventually get out. Copyrights eventually expire. This is a good thing. You are ignoring the other side. There is a world of difference between profiting at the expense of your competitors (market share) and profiting at the expense or your customers. Whether through secrets or legal temporary monopoly, the competitive edge should only last long enough to foster innovation. beyond that, it net harms society because we are all consumers. The problem is that copyright producers have an incentive to capture the regulatory process (yes I'm talking about you, Disney). The benefits are concentrated and the costs are distributed. Consumers everywhere are harmed while only a few benefit. Can anyone seriously argue that we need a 100 year copyright on Mickey Mouse in order to promote creativity in entertainment? A wallet.dat file is not intellectual property. It is a trade secret. guard it with your life, but don't come crying to me or Uncle Sam if you let it get copied. I don't want my tax dollars spent chasing down whoever took your money when you were too stupid or careless to secure it. I agree with everything you said, I honestly do. But how do you solve the side I stated's concerns? |
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Bitcoin might not survive but as forever-d but it, the genie is out of the bottle.
Bitcoin is LESS anonymous than the banking system. In fact I might be setting up a South African escrow clearing house to facilitate person to person bitcoin sales and one of the coolest features is that I don't need much to prove I am trustworthy except the block explorer.
Not only will the government be able to see what we do, but we'll be able to see what it does!
Eventually bitcoin or something like it will succeed in a big way.
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Hold up,
If I copy something that is a trade secret that gave a company a competitive edge, one they laboured into existence, they lose that edge. That edge was a scarce resource. They produced it at cost in time and resources, I reproduced the information the edge derived from at no cost, while still leaving them with a copy of the information, but no longer with the intangible that lead them to labour to produce the information to start with.
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So if software launches and tells you you are binding yourself to the agreed terms if you use it does that qualify?
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So why don't Eulas qualify?
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liberals: more than one liberal  |
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Ok, so but what if you connected to a game server which I owned and I stole them during the connection, you allowed me some limited interaction with your PC, why doesn't that extent to my copying your files?
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Hi there non-Intellectual Property Libertarians,
Here's an interesting one. Is copying someone's wallet file theft?
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Exchange rates will stabilize (stop doubling every few weeks, to doubling every few months) when bitcoin reaches fair value amongst the population that is adopting it. That will probably be when they all have at least some bitcoin and can do some transactions in bitcoin. This is also the point we should see the massive growth in online offers (which will still be deflationary, but hopefully less so). But I speculate
As for never spending it:
Imagine you were one of the first people to use bitcoin in early 2010 and you mined 10000 BTC. You now have $300000 in BTC. Are you honestly telling me you folks won't buy yourself or your significant other something nice with at least some of that money ?
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Bill Gates is a patent monopolist; a beneficiary of the ruling elite, and hence a member of the political class. Bad example.  In general, I am a big fan of Agorist Class Theory and recommend it often. LOL true, but even he doesn't qualify for what liberals accuse most of the rich of |
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Not every jurisdiction will follow suite.
The banking system as it stands now will inflict great suffering on the people and eventually collapse in on itself.
Whether we need to wait for that moment, prepare so long, or facilitate it, I don't know yet.
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Hi again, All South Africans, we have a better, more focused forum running over at www.bitcoin.co.za/forumSpecifically we are working on setting up means to exchange ZAR for BTC. Please join and post  |
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I'm doing the following calculation to determine the date the rig will have paid for itself
Total_BTC_Mined * USD_BTC * ZAR_USD / Days mining => Average daily income from mining and price rises.
Now the above is flawed in that the rig will have mined more BTC earlier on and that BTC will now be worth more. I need to sit down and figure out the daily ZAR (local currency) payment for each specific day.
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Hi guys,
I'm noticing something interesting my mining rig maintains a fairly solid daily income despite difficulty increases or price fluctuations. For you guys who have been mining for a longer time noticed the same thing?
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When BTC enters the mainstream there will be some regulation attached to it. Most likely that you have to declare your accounts.
How about grabbing a whole bunch now and using them to anonymize transactions later?
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Resale value to anyone except hardcore bitcoiners will be near $0 on a practical level.
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I'm an "Austrian" and that's why I see Bitcoin has value. I could understand debate from them, but total silence??
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