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if I was to hazard a guess the solution would be: 1. fight them setting more exchanges up etc make btc viral. keep unregulated. 2. involve the governments and banks, regulate.
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4 eyes are better then 2 and so on and so forth. it will work it has to, that's the genius of strength in numbers, humans are pack animals problem is most are only just realising.
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so it really is a survival of the richest ahem fittest. the ones at the start or the ones with the most cash to buy the fastest pc/s win. sounds kinda like the old ways to me. rich get richer poor are left behind.
That's how a free market works. Except the poor are free to come up with creative ways of generating wealth therefore becoming rich. Bitcoin mining requires a somewhat substantial initial investment but there are other ways to make money that don't require as large of an investment, and actually have faster ROIs. Mining is only as attractive as it is because it's easy. :p yes id like to trade but keiser hasn't made his uk exchange yet and im left high and dry now without anyway of entering the market therefore I thought a nice union would help create stability then when uk government finally allows me into a exchange I can playing around with ideas. till then im gonna be year behind the rest of the world.
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the mining pools collectively stick together and wont sell unless for a set price all the participating pools agree on. if nobody is willing to sell the new coins unless it is for a set unionised price then nobody gets the new coins.
Except there will be pools that don't want to join the union and who will sell at whatever price they want. (or continue to distribute coins to miners proportionally to each miner's hash power, i.e. the current system) Bitcoin related activities can't really be regulated like traditional ventures. its low entry maybe for people with fast pc's, me though with a laptop cant mine let alone find it hard to even buy the things in the uk. im just saying if a collective of miners decided to form a union this could stabilize the price. they could set a fixed union rate to sell to the market at. strike breaking would be dangerous to stability and also just dumb as they would more than likely get less than union rates for the btc.
The only way a union could set a fixed rate would be to find someone willing to buy at this fixed rate. Who would buy coins at a rate x when they could buy when market value is <x, and what miners would agree to sell their coins for x when they could sell them for >x at market value? Price fixing doesn't work for bitcoin since there'd be no way to enforce it. businesses may buy at this fixed rate if union bought back at a fixed rate then stability is created. plus if the union didn't sell the coins as a collective until the set price was reached then the strike breakers would be daft. they may feel like their getting a good deal today but tomorrow if the union price was reached the strike breaker would be a fool.
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so it really is a survival of the richest ahem fittest. the ones at the start or the ones with the most cash to buy the fastest pc/s win. sounds kinda like the old ways to me. rich get richer poor are left behind.
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its low entry maybe for people with fast pc's, me though with a laptop cant mine let alone find it hard to even buy the things in the uk. im just saying if a collective of miners decided to form a union this could stabilize the price. they could set a fixed union rate to sell to the market at. strike breaking would be dangerous to stability and also just dumb as they would more than likely get less than union rates for the btc.
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the mining pools collectively stick together and wont sell unless for a set price all the participating pools agree on. if nobody is willing to sell the new coins unless it is for a set unionised price then nobody gets the new coins.
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could it be possible for a mining pool to collectively become employees to a company or individual for a set wage regardless of the amount mined?
for instance the miners get say 1k a month fiat or whatever is agreed by the buyer of the whole pools btc and the miners. then the owner of the rights takes all the BTC the miners get a set wage regardless. could this help the stability of the price of btc?
would a union of miners be able to stabilize the price?
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saying I want to make a bit of fiat off of btc and im from the uk, currently with no btc and not a miner do I really have a chance? basically the fiat would be to tide me over comfortably til btc takes off as a sound currency. is this a pipe dream? if anyone could help a fellow brother out let me know.
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ok ive heard of bitcoin for 1 week.
3 low points to include:
1.drugs sites or illegal activity! say how you DO NOT want btc to be used for this. this isn't what btc is about totally use this as number 1 low point NOBODY wants to end up in prison because of btc. hopefully this will get stamped out in the near furture. 2.safety is number 2 point for me. 3.simplification. make everything 100% obvious to people who aren't even computer literate let alone basic users like me. think 70 plus year old people who know how to use chip and pin cards, maybe mobile phones or basic email.
3 plus points: 1. technology is changing the world, bitcoin is a faster, cheaper, safer more convienient way to send money 2. btc isn't competing with the banks or governments its helping them merge togerther for a safer faster healthier economy. 2008 depression helped nobody, btc could. 3. if the online community used btc worldwide thered be less paper, oil, resources wasteage and this is a big world wide problem. why waste resources when currency HAS been proven to work online i.e btc.
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from a leymans point of view which I am, to fellow leymans. describing a wallet should be described as simple as possible. use metaphors lots and lots of everyday examples of things they use. like chip and pin cards, nobody would give their keys out to stranger or their email passwords. nor would they give their wallet keys out.
metaphors with things people already know are the way forward, relate to things people already use.
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thinking about digital currency realistically we have all been prepared for this by the governments thrashing us through IT at school. I think it is on the cards. most of everything is going online, only luddites cant see it. from high street shops to banking. its like video killed the radio star, in my lifetime.
as a really far out foresight I can see the world being online for almost all things. its a crazy world.
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when do you all think 100 fiat or (roughly 100 depending which fiat you use) will be exchanged for 0.0001 btc? do you think this will be centuries, decades? or meagre years? what point will fiat be forced to change to btc?
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hi ive just signed up to localbitcoins.com and I have signed up successfully but... I haven't received the verification email, is this because im from the uk and their offices will be closed? I thought the verification would be instant bot style. ive checked I entered my email correctly. anyone can help that would be greatly appreciated.
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hmm sounding like a really bad investment now from the uk standpoint.
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ok so if I buy btc using a uk bank transfer would this be ok? but pretty hard to do from an exchange?
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hi everone, so if BTC was the currency of the world apart from dying fiat currencies, do you think wars could be ended? id like to think so as if every nation used BTC then we all use the same blood to supply our organs. what are your thoughts?
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give the guy a break, he could be legit. if you don't trust him don't donate. simples.
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I think J.A. is fascinating... i feel sorry for his condition! I wouldnt like to live in a 20m2 room for a year...
I wonder if assange is having as hard a time of me as buying selling BTC in the uk.
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ok help needed, ive signed up to transferwise and bitstamp. ive put the banks name as the creditor the iban and BIC in the boxes.....BUT.... the number they say I need to put in the bank deposit message does this go in "payment description/message" and they provide no email do I need this.
thank you guys im on the cusp of owning some lovely btc.
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