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yes, i installed mine yesterday and it works as you described. i'll add that Mark said yesterday that Withdrawal will be added shortly.
when you speak of "keys", do u mean the series of letters entered into the OTP box by the Yubikey? how do you know how many of them there are? i also noted they're just alpha and was surprised it didn't generate numerics in the password as well.
whats the purpose of the QR code?
i don't understand what you mean by the following. can u expound on each of them please?:
"1. Keys cannot be used twice
2. If I generate many keys, I can use them all if used in order of generation. If I use the last key generated, all previous keys become invalid.
3. I'm not sure when the keys expire after generation."
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The dollars which came from someone that owed them back, isn't owed back by you. It's owed back by the borrower. yes in normal times. but since 1913 the Fed has gradually relaxed this rule allowing a slow decline in the value of the USD to "help" Wall St. the mirror image of this is inflation. but since 2007, the Fed has ENORMOUSLY violated this rule by in fact permanently buying bad collateral (loans) from its member banks. You mean it has had a relaxed policy on the repayment if loans? yes the bastard Bernanke initially said all the bad loans the Fed took from the banks in return for printed money back in 2008 were supposed to be temporary loans. this in fact has morphed into an outright Buy and now those loans are payable by the US Treasury which means the US taxpayer. this is why your USD is shit. evidence of this is on the Balance Sheet of the Fed i provided above which show a big fat zero for repurchase agreements which would have been the category these bad loans would have been placed. instead you see all those bad MBS loans in Securities Held Outright which means he made us buy them. |
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slush,
whats up with the bridge today?
now your chartfeed program is updating just fine but i have no link to the graph itself?
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People say all money you hold is owed back by you.
this is where everyone is getting confused. there is small amt of currency in the system that is NOT owed back, but its only a small fraction, in fact, the Fed has a 54:1 leverage ratio. i forgot to add that those USD's you hold are still "debt backed" in the sense that they devalue as the US gov't has to take on ever larger amts of debt to pay off its current debt. |
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People say all money you hold is owed back by you
this is where everyone is getting confused. there is small amt of currency in the system that is NOT owed back, but its only a small fraction, in fact, the Fed has a 54:1 leverage ratio. see this: http://www.hussmanfunds.com/wmc/wmc110705.htm"Turning to the subject of monetary policy, according to the Fed's consolidated balance sheet , the Fed now holds assets $2.87 trillion, versus $52.87 billion in capital, putting it just north of 54-to-1 leverage. " As far as I know is that most (if not all?) of the new money is lent out expected to return to the federal reserve central bank.
yes in normal times. but since 1913 the Fed has gradually relaxed this rule allowing a slow decline in the value of the USD to "help" Wall St. the mirror image of this is inflation. but since 2007, the Fed has ENORMOUSLY violated this rule by in fact permanently buying bad collateral (loans) from its member banks. If you happen to get income from the money owed back with this "easy credit", you aren't the borrower. If the money doesn't get back into the hands of the borrower than I guess what happens is the borrower borrows more, potentially new, money or they default on the debt.
What the US government does is borrow more.
Quantitative easing refers to the buying of government bonds with new money, correct?
yes Financing government debt with credit created from thin air?
yes again Once again, I'm not an expert on these monetary things and I'm certainly not an expert on the US system. I don't know exactly how new money in the US is spent. I don't know if 100% goes to into credit or some goes to non-repayable subsidies.
People blame markets and capitalism in themselves for the financial crisis. I think these people are stupid.
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you guys are dreaming, which is fine.
My take on the OP, is what, TODAY, do you *need* BTC to buy? I think his point was "not much".
However, I have found it incredibly easy to gamble with BTC. And speculate. I know there are sizable numbers of forum users who are against both of these things, but the reality is, that's what you can do with BTC today. I'm having fun doing both. But if we are to have a thriving BTC economy, we need that "killer app", that one thing (besides gambling and drugs - not that there's anything wrong with that), that only BTC can get you.
You'll say "anonymity" or all the usual Libertarian things (not that theres anything wrong with that, either). But what will make my Mom or Dad (both diehard union liberals) or my Grandpa (die hard mid western gun nut conservative) say "I got to get me some of those bitcoins so I can buy a xxxxxx".
It aint Alpaca Socks (cool tho they are).
Let's find that killer app.
we already have. http://www.thinq.co.uk/2011/7/6/bitcoin-android-app-tips/ |
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x=buy food.
My dream is to be able to pay rent with them. (OK, sell them, and pay rent with the dollars)
Bruce Wagner already is. |
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I find this topic facinating. I wonder why everyone does not see it, and the problems with it. Maybe some do not understand how big 1 trillion dollars is...  A bundle of $100 notes is equivalent to $10,000 and that can easily fit in your pocket. 1 million dollars will probably fit inside a standard shopping bag while a billion dollars would occupy a small room of your house. With this background in mind, 1 trillion (1,000,000,000,000) is 1000 times bigger than 1 billion and would therefore take up an entire football field - the man is still standing in the bottom-left corner.  Love it! But aren't we at approx. 14 Trillion now, with the bankers bailouts. I think it was 4 Trillion, then another 11 Trillion, right? That was after the initial 880 Billion, correct? the national debt is 14 trillion but the estimated private debt is 54 trillion. |
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Timberrrrrrrrrr.
The fake bid ask wall at $12 $14 vanished...now watch the one at $100 vanish. |
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I need BTC to do become a Billionaire.
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LOL! you're such a troll!
Why is he a troll? What he said is right. b/c every one of his posts slams btc. i wonder why is he here? if you're that negative on something, why do you hang around? as far as the above pts: security is already a feature if you know what you're doing. and if you don't encryption of wallets will be a feature of the next version. ease of use is coming along with security. thats clear. Trust: you don't have to trust anyone. thats what the block chain is for. Mitigation: again, no risk if you know what you're doing Transparency: way more than our Federal Reserve and banking system. |
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- Mitigation of Risk to User:
look BTC is going nowhere if you keep lying to yourself. These issues are major points that need adressed. Lets get real here. LOL! you're such a troll! |
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tell you what. i'll send you my mortgage. how's that?
No deal. Maybe you ought to read bitrebel's posts again until you understand how the US dollar is worth no more than your mortgage. Worth less, in fact, because at least the mortgage is honest about being a debt. I'd be doing you a disservice by taking your mortgage instead of your dollars... and I just wouldn't be able to sleep at night knowing I'd done that. LOL! |
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I used to use eGold, but I'm got tired of it pretty quickly. The BitCoin community seems to be more active and many more developers.
+1 |
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This thread has nothing to do with bitcoins. Admin please move this thread to the economy section !!
you're a banker, aren't you? |
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so you can see how "debt backed money" only benefits the banksters b/c heads they win, tails you lose.
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you do realize that the mortgage the buyer of your house had to take out and then turn over to you in USD's increased the money supply by that exact amount and therefore devalued the USD's he just gave to you by that same proportion?
you may consider it an asset but its a depreciating asset. which is precisely why ppl are getting rid of those same USD's in return for gold, silver, and bitcoins which are not backed by debt.
Yes you're correct, but I am still "better off" after the sale. I have made say $300,000 in USD, but the USD money supply has been devalued in aggregate. The loss of wealth is shared by all holders of dollars, whereas the benefit of the newly printed money is me (and the bank). So I get $300,000 and perhaps that is now worth only $299,999.98 in real terms. And yes of course dollars are a depreciating asset. They suck, and we ought to get rid of them entirely. not necessarily. the other half of your tx is the house value. typically the house price will go UP with inflation. this is one of the "risk assets" that Bernanke is trying to push everyone back into along with stocks. its like the fox herding all the chickens into the fox hen for the next slaughter which is why i hate Bernanke with a passion. he has us all looking over our shoulders fearful of the next financial crisis just b/c he's trying to save his banker buddies. |
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You can take 5 million federal reserve notes and you cannot pay off a 1$ debt, you can only discharge it dollar for dollar.
That $20 Federal Reserve Note in your pocket is not wealth or money, it is the Prima Facie EVIDENCE that you hold debt, and you are not worth $20 Dollars, you in fact, OWE that $20, because it's borrowed to begin with, it's NOT YOUR FUCKING MONEY, it's THEIRS!!!!
Sorry bud. I'm as anti-fed and anti-dollar as anyone on these forums, but I think you are confused. When I hold $20, I hold $20. So long as it has purchasing power, it's an asset, not a debt. When I have $20, I do not OWE $20... you are speaking nonsense. The fact that someone before me borrowed $20, then gave it to me, does not pass along the debt obligation to me. A $20 Federal Reserve Note IS money... it is just crappy fiat money and we ought to rid ourselves of it. you do realize that the mortgage the buyer of your house had to take out and then turn over to you in USD's increased the money supply by that exact amount and therefore devalued the USD's he just gave to you by that same proportion? you may consider it an asset but its a depreciating asset. which is precisely why ppl are getting rid of those same USD's in return for gold, silver, and bitcoins which are not backed by debt. |
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