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How does bitcoin thrive if the fiat banking system is illiquid?
There's no possibility of bitcoin loans. And the only way someone who needs capital can get it in bitcoin is buy using fiat to acquire it, which as you stated is hard to get your hands on in Europe right now.
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Where does the supply and demand of goods and services fit into this? The primary driver of prices is supply and demand, and increase in prices is what causes inflation.
It definitely works for the banks but I don't think it's a scam perpetuated by them.
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250000 a year and considered a middle class?  WOW you Americans must be rolling in cash. Did you read the article? Sounds like your missing the point. $250,000 is NOT middle class in the US, but in some cities (e.g., New York and San Francisco) $250,000 only buys a middle class lifestyle, modest house, regular cars, etc. It's crazy, rent for a 2 bedroom 1000 sq foot home is $3000 or more a month. There's so much business in these cities and so many people that want to live in these cities that the price of everything goes ski high. This, in turn, raises incomes because people can't work in the area of they can't afford to live there. Check out the cost of living in Tokyo, Singapore, and Hong Kong. You'll find the same thing going on. |
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Are you high? $45 a day for food for 3 people? More like $20. Unless you're 300 pounds and never work out.
Where do you live that you're feeding three people for $20 a day TOTAL? That's ~$6 per day per person... |
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If you are making more than 20K after taxes these days, you can consider yourself LUCKY.
What part of the country do you live in? |
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To ISIS bitcoin was created by infidels, they'd never use it...unless of course they were planning to lose the war for the end of the world (which is what they're fighting for.)
To the people that are so dilusional about everything, i doubt they care who created bitcoin, unless they would somehow bind it with US. I dont care if they use bitcoin or not, but i hope they fail in their goals and be trialed for everything insane they did. cheers I think you underestimate their commitment to their ideals. Yes, they are psychopaths because they believe in extermination. But they're not schizo, they have an awfully extreme interpretation of their religion. They absolutely would reject something based on who created it or what it symbolized. To your point, they use cash (likely US dollars), so perhaps currency is just the means to their end. |
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Technology should be for everyone. Period. Full Stop.
It's like information, information is for all. Although I realize some governments oppress their people and restrict access to information.
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How can the internet be used to create a better protocol than HTTP? It can't.
NICE! That's the kind of response I'm looking for, thank! Either definitive "it can't" or definitive "here's what's likely to happen"... |
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Thanks to all that have participated so far in our beta, the feedback has been very helpful! Keep in mind we still have a few free play spots left so sign up while you can. We have made a few small changes but have a major update planned in the new few weeks. We will be adding a lobby system, further improving on the users social experience while adding a more intuitive tournament system. In addition to that, we are expecting Unity 5 to be released very soon which means the game will play right from the browser without a plugin to download. The rumor mill on the Unity forums says the release will be within a month. For the latest news head over to our news feed at http://flyingsatoshi.com/category/news/  Hahaha, yeah, how many have participated so far? |
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I have to install Unity Web Player?
Sorry, that's enough for me to pass. I'm not "installing" a random software from an unknown source. You gotta make your games more accessible! Or if you're scamming, nice try.
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I still dont get how loans and insurances work. Who's going to stop you from not paying? unless you give them all your credentials before or something so they can trace you.
As an insurance agency you are a legal entity (at least in the USA). Right now most likely companies like Circle and Coinbase have insurance agencies that will back up their bitcoin assets with cash if they get hacked, in which case coinbase/circle will have to purchase bitcoins with that cash in order to give their customers their coins back. Insurance agencies also have to purchase insurance from the government so that if for any reason the insurance agency goes bankrupt, then the government fills the insurance claims. If we go to an all bitcoin system we would have to rely on strong insurance companies with proof of reserves for x% of the stuff that they insure. Even then since we couldn't force them to pay out the bitcoins (because we don't have their private keys) then it would just come down to jail time if they don't pay. I think he means, who would it work with Bitcoin, which has no recourse for mistake or fraud transactions and is largely anonymous. Your explanation is the traditional sense of insurance. Reserves and financial ability aside, how would a company insure unaffiliated or cold wallets? Coinbase is an exception because they own every wallet...no Coinbase customer is provided the private key, so the Coinbase isn't actually providing insurance but rather owning every deposit customers give them and promising to pay it out when it's requested. |
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Most people have enough money to pay the bills and that's that. The middle class is slowly disappearing, at the end we'll have only lower and upper (then the mega elite rich 1% that live off everyone else doing shit nothing while pretending they are doing something).
You don't think there's a way for the middle class to survive? |
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How can the blockchain technology be used to create better currency than Bitcoin?
Not that I want to see Bitcoin fail, but is it possible that the blockchain technology could be used to make something better (and make Bitcoin obsolete)? If so, how?
I think all altcoins already have a blockchain. So how is the question relevant to the bitcoin one ? I think the question is only relevant to bitcoin. The altcoins don't push the technology any further, the copy the bitcoin technology. The question is could the bitcoin technology evolved to something better than bitcoin. The consensus so far is "no", it can't really be evolved into something better, it's pretty damn good as it stands! Keep the thoughts coming, if others are out there. |
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You Bitmixer.io signature posters are always so full of questions! You're always the ones creating new threads. Im sure its genuine curiosity  -B- It is genuine curiosity, but I only speak for myself. Did you have anything constructive to add to this discussion or question? Or are you trolling for opportunities to harass? If you think my questions or threads or posts are trivial, noise, trolling, or a nuisance, please do me a favor and let me know. I participate in a signature ad campaign because it allows me to 1) make some small money, and 2) become more fully immersed in the bitcoin economy. If my comments ever cross the line from constructive I'd appreciate anyone letting me know so I can make changes. I only want to be a constructive participant. |
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How can the blockchain technology be used to create better currency than Bitcoin?
Not that I want to see Bitcoin fail, but is it possible that the blockchain technology could be used to make something better (and make Bitcoin obsolete)? If so, how?
Ahum..... There is an altcoin section here in this forum if you didn't know.  To the casual user NONE of the alt coins are an improvement upon bitcoin, if they were they'd have attracted the bitcoin economy and community. Instead all alt coins are mere inferior alternatives from the current dominant choice. I don't think bitcoin can or should be replaced...but I'm also not as wise as many others here on the depths of the technology, which is why I asked the question. Thanks for the responses so far! |
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Is this a rhetorical question?
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With the risk of hacking being talked about a lot, it's a bit obvious to think what insurance options are available (or could be available) to protect us from our bitcoin being stolen.
It's a big need but so difficult to manage or implement successfully.
If I insured your bitcoin, how could I be sure that you didn't rob yourself to collect on the insurance?
Can bitcoin insurance ever become reality?
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Tons of banks in the early 1900's got robbed or went out of business, it didn't eliminate the need for banks. I think bitcoin will survive beyond the hacks. Maybe some bitcoin insurance agencies should be formed to cover people's losses.
People preach doom and gloom because they are focused on the news today, rather than the impact of that news over years. If you take a longer view of the currency you can see how it could become very successful. Also, the volatility of the price is a barrier for entry for new users. If I'm buying my first Bitcoin today I'd be pretty concerned that my $230 could become $120 over night...that's a scary thing! Why would I put my spending money into something so volatile?
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I don't think the collapse of oil will have as much negative effect on rates as you may think. Cheaper oil frees up ordinary income to be used to buy things, which stimulates the economy. When the economy picks up the Fed will raise rates.
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How can the blockchain technology be used to create better currency than Bitcoin?
Not that I want to see Bitcoin fail, but is it possible that the blockchain technology could be used to make something better (and make Bitcoin obsolete)? If so, how?
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