in a BTC to BTC bet, both parties would stand to win or lose exactly the same amount in BTC. my BTC is worth the same as his BTC right now.
i thought of your objection. it adds flavor... In Bitcoins, yes. But a bear would believe Bitcoins would lose value otherwise why take the bet? As an example, lets say in a year BTC's are worth $5, so technically the bear wins. This would be the transaction: Bear buys 100BTC today at $1,400 (approx.) Bear wins 100 BTC one year from now. Bear takes his 200 BTCs from the escrow and cashes out at $1,000. So even though he won the bet, he lost $400, not to mention the time value over the last year. Only a moron would take that bet. except for this: in a real bet of this kind, both parties are adequately secure in their beliefs that the idea of losing isn't worth considering. i am certainly so. so no. and where does your 100 BTC come from? my original bet was 50.  EDIT: and $5 is just silly, methinks... |
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i will also bet any or all of you btc bears/trolls in this thread 100 BTC each to be held in escrow that the USD price will exceed $20 in one year.
Assuming a bear would not have any Bitcoins, they would lose either way. They would have to buy Bitcoins now, ~$1,400 at current prices give or take, then put it in escrow. If they "win" then their coins are worthless (or at least worth a lot less) and they lose the $1400 paid for this stupid bet. If they lose, they're out $1400 plus whatever appreciation bitcoin sees in a year. You'd have to do a straight USD bet to make it fair, which is kind of ironic considering the wager. in a BTC to BTC bet, both parties would stand to win or lose exactly the same amount in BTC. my BTC is worth the same as his BTC right now. i thought of your objection. it adds flavor... |
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I just don't get why if everyone is so confident Bitcoin WILL reach $20 again demand is so low? The markets tell the story. What people are actually doing is selling, not buying. Put your money where your mouth is! At least I have done that by selling.
You are telling us that you don't believe in Bitcoin but you are sticking around for... ? for the lulz? Yes I do find it an interesting project. And the reason you are pushing your agendas is...? (no need to answer this) Stating a prediction is not pushing an agenda. For me, this thread will be most entertaining when I bump it in the future. ok. tell you what. i'll bet you 50 BTC that Bitcoin will exceed an exchange rate of $20 USD - without the openendedness of your blanket prediction: that is, at some or any point within the next six months. in escrow. Put your money where your mouth is! no PMs. open on the forum. in or out? |
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This is a pretty good idea. And here's how it could work... I wonder if instawallet can come up with a system by which I can send someone a "gift" of a wallet that already contains some BTC. I'd love to give that to my children, for instance, and then tell them to go on bitcoinworldmarket.com, where they can buy something they want.
I'd suggest giving your loved ones mybitcoin.com accounts, but that would get me in deep trouble here :-)
this is exactly correct. i remember when PayPal first started seriously taking off. aside from their original tag-line: "always free - we make our money on the float!" (* sigh *), does anybody remember how they bootstrapped themselves? i do. you could send somebody money with PayPal even if they didn't have an account. all they had to do was pretty much open a link, type in their name and click a couple of radio buttons. it was brilliant marketing. we need that. |
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Here's a fun calculation: There are 166,000 tonnes of gold in the world (source: World Gold Council). Each tonne consists of 32,150 troy ounces for a total of 5,336,900,000 ounces. Divide that amount by the eventual total number of bitcoin (21,000,000) and you get 254 ounces of gold per bitcoin. With gold at a US dollar value of $1,600 that would equate to $406,400 per bitcoin.
32150 x 166000 = 5,336,900,000 oz / 21,000,000 = 254 oz per 1 BTC or 254 x $1,600 gold = $406,400 per BTC
if you're going to compare all the Bitcoin there will ever be to gold, you should compare that number to all the gold there will ever be. the oceans of the world are about 310 M cubic miles. at 25 tons of gold (in suspension) per cubic mile of seawater, that's 7 3/4 billion tons of gold. we'll get it someday, too. but what'll it be worth? n.b. - that's just the gold in the ocean. how much is in the crust of the earth, and likewise not yet economically extractable? also note that there are astronomical bodies - especially in the Oort Cloud, but also meteorites - with known massive, high and easily extractable precious metal content. PMs tend to bunch up with each other, in space or on the earth. here's an interesting wager: how will we first destroy the 'store of value' aspect of PMs? by mining the oceans or by mining space? tough call... |
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i see a floor of somewhere around 40 USD.
spikes of double that.
but really, it's the end of 2012 my game is focused on...
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An excellent synopsis of the problem. Thank you. As for you not believing in anthropogenic global warming, I'm not sure why you think the evidence is thin.
i don't know either - but i know the lies people have been led to believe. for example, here's a list of the most common misconceptions about climate science, with debunking by some of the actual, working, lead climate scientists who put the (overly conservative, as it's turning out) IPCC report together: http://www.realclimate.org/wiki/index.php?title=RC_Wiki#By_Mythi have yet to see any of their points shown to be wrong, in any even marginally important peer-reviewed work. mostly, the deniers prefer 'articles' and blog posts written by journalists and politicos of one stripe or another. and the deniers with even remotely acceptable credentials have some pretty dicey financial and political connections... And yet, it moves... |
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take a look at slush's pool. not so much at rates (none of which are all that terrible), as at stability.
the last time there was a major DoS attack, slush took it hard. this time, the pool has weathered the storm better than any other. slush has changed a few things - like miners are whitelisted - and seems to be holding firm.
as a simple matter of economics, i'd much rather pay a slightly higher fee for much higher uptime, than a lower fee and lose mining time to these attacks. YMMV.
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Bitcoin; Trusted by more paranoids than any other currency.
Bitcoin; You don't have to trust me, just that 1+1=2.
Bitcoin; Don't bother if your happy not to own your money.
Bitcoin; When was the last time you where happy with your bank?
Bitcoin; When was the last time you where happy with your governments financial ruling?
Bitcoin; When was the last time you where happy with your bank? that one. |
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Yeah that's kinda the article that prompted my post - there are similar developments with other companies as well. Let's consider that it took at minimum 3-4 months for ebay and zong to negotiate and sign a contract together. That takes us back to mid-march... when Bitcoin was essentially still a completely unknown phenomenon. In that span of time, Bitcoin appreciated by an order of magnitude, hundreds of new businesses have been created, half a dozen new exchanges emerged, and an elegant end-to-end mobile app was developed for Android. All in the time it took them to discuss their contract. Wow =) ^^this. yeah, Bitcoin is doomed. dooommmmed, i tell ya. |
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very, very nice.
i'm going to be in the market for a 7-8" android tablet, sometime in the next few weeks. i'll be watching.
and the first time i get something from you i'll add in one of those cell-phone blockers.
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Mining our own business, since 2009.
(disclaimer: i didn't come up with this myself, and i'm quite opposed to associating bitcoin with mining in any public relations)
WIN +2 n.b., there are a lot of clever and true things posted here that just won't do: First online cash-like currency kept constant by a publicly known equation. Bitcoin is a digital currency that cannot be made worth less due to the issuing of new bitcoins by a central bank. and even: Bitcoin is a peer to peer digital currency that you can send from your computer Android phone to someone else's without using a middleman for free. to which i will repeat myself: in case you've never done it (sell), you gotta get your foot in the door... no geekinesss. at all. put your head into thanksgiving-at-grammaw's-house mode. think of your aunt tillie - what she wants, what she knows, and what she's capable of learning easily. sell her. |
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On the other hand, maybe this is the wrong approach altogether -- it has a more "anti-authority" approach than some would like, I suppose...
Thoughts?
not bad. the anti-authority approach worked for Apple (the 1984 ad was huge) - but of course they're quite authoritarian. maybe it works best for folks like that. as an ad though, i like it. EDIT: i especially like: Bitcoin. The future of money. assumptive success is good. |
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you think he's got his name trademarked?
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you can get a custom LP cut (the actual machinery is fairly expensive) by a service, for about 50 USD.
how many private keys can you get on one?  i dunno. it would depend on how much redundancy you felt was adequate. an LP holds as much music as a CD though - right? so a few hundred meg, less the data cost of analog>digital translation. It's analog, there is 0 bytes on it. edit: and it would be much cheaper to store everything on paper and scan it instead, MUCH cheaper. yes, it's analog and has 0 bytes - but an analog signal which is designed to be converted to digital can carry information. as i pointed out - USB turntables are interesting, and do precisely that. the trick is to design a way to convert a digital piece of information to an analog signal that can easily be converted back. i've imagined playing a Word Doc using one's favorite CD player... |
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I mean, I'm not discrediting Republican libertarians who think the US dollar is going to plummet to nothingness, but they aren't the whole of everyone who uses bitcoins.  I doubt Atlas was remotely a repub. Perhaps you don't understand what a libertarian actually stands for? I'm pretty sure I do, and I would be so bold as to call myself a libertarian. I don't entirely understand how a Republican could be libertarian either, but as far as I recall he said he was both, and I've seen others do the same. I would guess we're both just misunderstanding something, many things and beliefs can be reconciled. Welcome back, Atlas.  awww. c'mon myrkul... |
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it doesn't take much money to get started. follow the market for awhile. learn how it works. read the forum - especially the trading subforum.
put twenty bucks on an exchange and buy 1 BTC when you're confident the market is at a low. exchange it for USD when you're reasonably confident the market is at a high. wait for it to go down, and use the USD to buy more Bitcoin on the exchange. etc...
it's a pretty volatile market, and if your patience is high and your greed is low you can make a little money. it sounds like your personal position might be suited to some kind of trading.
worth a shot.
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what about the MIT Expat (open source) License?
if it's licensed, how can it be trademarked later by a different entity?
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the one i've heard that i like the best is:
it's like PayPal, but it's free.
so trades are reversible? and support staff will help with disputes, but make you wait 2 weeks for a reply? and you can't pay for naughty things like wikileaks donations? sounds awesome! well, i know all that. but the thread title asked for a 'selling pitch'. in case you've never done it (sell), you gotta get your foot in the door... EDIT: ok, ok: it's better than PayPal, and it's free. |
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