As it should be. Borrowing something and not giving it back isn't debt, it's theft.
Wrong wrong wrong it's not theft it is default. Most of the time these people intended to repay but later cannot. Default is a natural risk of lending. It's why lenders charge a huge interest rate especially for unsecured debt. When did credit cards morph from unsecured debt to debt secured by every penny you will ever make in the future? Why are you cheering the morphing of our government into the debt collection agency of big business? If this trend continues all credit card companies need to do is make it just a little bit harder for people to file for bankruptcy and then give collage students tons of 0% interest credit cards. "Don't worry about that credit card debt college kid it's a great deal at 0%. We wont even require you to make payments until you are done with collage and get a job. What you missed your first payment sorry that 50k now has an interest rate of 26%. We get to take 25% of all your earnings forever. What you did not know what you were doing when you signed up for this at age 18? Sorry that's you problem after all not paying your debt is theft." Is this the future you want a society of slaves? I know we are well on our way already but to cheer it on and is nauseating. Default is a natural risk of lending. Cheering for wage garnishments is cheering for corporate bailouts and big government. |
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The rules are changing. Once upon a time people could walk away from debt and start over if they got into trouble. It would be very unwise to assume this will be possible in the future. Credit card debt is no longer unsecured debt. It is now secured by a 25% lien on all your future earnings. Protect yourself and your family accordingly. http://knba.org/post/when-consumer-debts-go-unpaid-paychecks-can-take-big-hitOne in 10 working Americans between the ages of 35 and 44 are getting their wages garnished
Back in 2009, Kevin Evans was one of millions of Americans blindsided by the recession. He had a 25-year career selling office furniture, but suddenly, companies stopped buying furniture. For the next several years he worked a string of low-wage jobs: at a lumber yard, at a 24-hour fitness center. He rented a room from a friend. He never collected unemployment. But with a daughter in college and basic living expenses, he ended up with a $7,000 credit card debt that he says he couldn't pay.
Late last year, he found a better-paying, full-time customer service job in Springfield, Mo. Things were finally getting better, until early this year, when he opened his paycheck and found a quarter of it missing. His credit card lender, Capital One, had garnished his wages.
Evans had the misfortune to live in Missouri, which not only allows creditors to seize 25 percent, but also allows them to continue to charge a high interest rate even after a judgment. By early 2010, Evans had fallen so far behind that Capital One suspended his card. For months, he made monthly $200 payments toward his $7,000 debt, according to statements reviewed by NPR and ProPublica. But by this time, the payments barely kept pace with the interest piling on at 26 percent
Missouri law also allowed Capital One to tack on a $1,200 attorney fee. Evans has involuntarily paid over $6,000 this year on his old debt, an average of about $480 each paycheck, but he still owes more than $10,000. In Missouri, creditors can continue to add the contractual rate of interest for the life of the debt |
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When I see an antique that I want to buy, I will flood ebay with my own similar antiques. This will cause people to not bid so highly on the antique I want to buy because they see many more of the same or similar ones coming to the market. I then buy up the antique I want to buy, and then remove/end my ebay listings. Works like a charm.
Looks like e-bay needs to start limit people from removing listings for high priced items expensive items. Good to know stuff like this is going on I guess  If your trying to sell something rare on e-bay looks like you really need to start watching all similar listings and pull your listing if some tries to screw you over in this manner. |
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Humm I own CoinCube.com wonder what that would go for these days
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Has the way the binaries work changed since the update.
Just got around to updating the binaries (I use linux)
I downloaded the new bytecoin-linux.tar file, extracted it and copied over my existing files
with the ones in the binary.
However,
When I run ./launch bytecoind I get permission denied
when I run sudo ./launch bytecoind I get ./launch command not found
Edit:
Solved the problem by using the command
chmod u+x simplewallet
chmod u+x bytecoind
then running
./bytecoind instead of ./launch bytecoind
and
./simplewallet instead of ./launch simplewallet
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can someone explain me how to copy and paste the deposit adress into simplewallet. Strg+C dont work and right mouse click also dont work ?!
can someone please answer my question. i dont want to type the deposit adress and the payment id manually in simplewallet. To paste into a terminal window in Linux you can try SHIFT+INSERT that is an older form of paste. The windows simplewallet has as drop down menu in the upper left hand corner select edit then paste. |
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Questions on how to send receive bytecoin payments.
From the bytecoin webpage it states
"The service generates the 32-byte (256-bit) sequence, transforms it into a string and assigns to this newly arrived user"
How exactly does one do this? Does any value here work, can this value be left out if I am sending money from one wallet controlled by myself to another wallet controlled by myself?
The sample payment command on the bytecoin webpage is
"transfer 0 24MUWTSatNeTx4nGwVwn8tdVDorJD6esSThZa17cVzCL8ZDC7YeZwaxibsyepc6MAK9pKS
g4cHAd1Yd2MFwWTQxcFAkhwkB 100000 852adfb2894f72d204926ced238fbe085885e862c5b394f9102
42f675a859c71"
This example command has no information about a transfer fee. Does the network currently accept transfers without a fee in a reasonable time frame or is there an accepted minimum fee as with bitcoin which should be added into the command somehow?
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Anyone want to take pity on a linux noob. I am trying to graduate to linux and wanted to see if I could get a machine up and mining Bytecoin.
My Setup:
Operating System PIMP 64 bit (copied to a 250gb HD with resized partitions to allow enough space for the Bytecoin blockchain)
Problem:
When I decompress the bytecoin-linux.tar.gz file I get a segmentation error.
...
In Linux the corresponding command is the "ls" (list) command, so type: ls -lFor help on this command type: man lsThanks, I think the problem was with the PIMP OS which was designed to run off a USB stick, I installed Zorin instead and everything worked smoothly. Can anyone tell me where ByteCoin stores the blockchain in a linux system once it's downloaded and synchronized. I have fully synchronized the blockchain and want to copy it over to my other computer so I don't have to do it again but I can not find it. |
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Anyone want to take pity on a linux noob. I am trying to graduate to linux and wanted to see if I could get a machine up and mining Bytecoin.
My Setup:
Operating System PIMP 64 bit (copied to a 250gb HD with resized partitions to allow enough space for the Bytecoin blockchain)
Problem:
When I decompress the bytecoin-linux.tar.gz file I get a segmentation error.
Now I have never tried to decompress tar files before so it is possible I am doing something wrong.
The command used is "tar -zxvf bytecoin-linux.tar.gz" this seems to work. It runs without error and decompresses the files to the subdirectory called root/Downloads/bytecoin.
I can see all of the decompressed files when I explore the disk with iceweasel. However, when I try to access them via the terminal I can get into the directory but at that point I cannot see them. The command "dir" returns "segmentation error".
My linux experience is very limited. Am I doing something wrong in the decompress process?
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Well I see as January 2014, others below started to expound upon what I had explained in November 2013 at the threads given by the quoted links above. On The Longest Chain Rule and Programmed
Self-Destruction of Crypto Currencies... Btw, the above linked paper is a siren call for strictly CPU only alt-coins, with constant perpetual debasement and 0 tx fees, and which have some mechanism to limit pool sizes. Very interesting link thanks for sharing. Gave it a quick skim will have to read it in more depth this weekend. |
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We are in the last stage of a mega-bubble, in which nothing matters anymore and we're only going parabolic up.
...
There are two possible outcomes: we gather enough speed before the road ends and we make the jump to... "singularity"... or if the road ends too soon we will crash back in the middle ages,
...
Or, we fuck it all up and try again in 500 years.
I believe there are three possibilities 1) Crash into middle ages (mad max) 2) Anonymous decentralized cryptocurrency arises that is widely adopted and revolutionizes the economy. 3) Non-anonymous crypto dominates and is centralized under governmental authority. Banking interest are going to be pushing hard for option three as such a solution could be used to retire the existing fiat debt while allowing the current system to limp along for a few more years. However, even if this occurs it would simply be the equivalent of resetting the system back to the mid 1920s. The same forces that drove us off of the gold standard would lead to the eventual conversion of the centralized crypto into fiat, debasement and eventual failure. I am hoping for #2 in the near future but it remains possible that humanity has to go through a few more cycles of #3 before we figure it out. I remain optimistic that collapse into mad max while definitely possible can be avoided. |
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Now, kindly stop spamming threads that I've already posted in. It's really clogging up my "show new replies to your posts" filter.
That is a hard argument to sell when 12 of your last 20 post have been in Anonymint threads. If I didn't know any better I would say you were quite interested in what he has to say. |
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Disgusting 80s failbears only bring poverty, tears and despair. You know why you don't see them around anymore? Yeah, that's right. They're doing time for buttraping defenseless shota. Here's a mugshot of one of those disgusting deviants: Thanks for nothing. Pervert 
Wow just wow. The utility of this conversation is rapidly approaching 0. I think I will bow out and leave you to your illusion that all is well in fiat land. Good Day |
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I'm an options trader w background in economics & finance. I'm here to warn people to stay away cause some bucket shop operation phoned up my very old and retired father to try to sell BTC investments. I get the feeling that the Bitcoin world is full of scammers as bad if not worse than Wall Street.
I've seen the same crap in penny stock land all the time. Wolves pumping & dumping on newbies. Like you pumping your ozziecoin
I am surprised your father is getting cold calls regarding Bitcoin. I would have thought it was far too new for such things. I agree that Bitcoin has a lot of pyramid/ponzi features built into it and very well may end in tears for a lot of investors (but I think the price is likely to go much higher before that happens). I own all of 1 Bitcoin which I bought to familiarize myself with the technology so I guess that technically makes me a Bitcoin investor. The difference between Bitcoin and your typical pump and dump, however, is that the underlying innovation cryptocurrency is fundamentally groundbreaking and revolutionary which makes bitcoin an interesting case. |
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In that case don't shit up this thread with your posts. You cite yourself as a primary source -- only on bitcointalk, folks  [angry, scathing words]  References: [ Austrian School, lol^See? There's your problem  Awww don't cry. I know the links are hard to understand. Look there's a rainbow  |
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In that case don't shit up this thread with your posts. You cite yourself as a primary source -- only on bitcointalk, folks No if you were not too lazy to even open the links I mentioned you would see that they are simply summaries of mostly existing works with citations. I am certainly not the primary source for most of the information. Since you seem to value non summarized original links here you go. The source material for the posts in question. But you and I both know you won't ever read any of it you are just talking up a load of BS to cover your laziness. References: McLeay M, Radia A, Thomas R. Money creation in the modern economy. Bank of England Monetary Analysis Directorate Quarterly Bulletin 2014 Q1 http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdfRothbard MN. The Foundations of Modern Austrian Economics, Edwin Dolan, ed. (Kansas City: Sheed Andrews and McMeel, 1976), pp. 160-184 http://mises.org/rothbard/money.pdfMurray N. Rothbard, Economic Depressions: Their Cause and Cure https://mises.org/daily/3127Ludwig von Mises Institute, Austrian Business Cycle Theory http://wiki.mises.org/wiki/Austrian_Business_Cycle_Theory#cite_note-6Christina D. Romer, Business Cycles http://www.econlib.org/library/Enc/BusinessCycles.htmlShelby Moore III, Understand Everything Fundamentally http://www.coolpage.com/commentary/economic/shelby/Understand%20Everything%20Fundamentally.htmlMatt Taibbi The Great American Bubble Machine, Rolling Stones July 9, 2009 http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405Ludwig von Mises. Human Action: A Treatise on Economics 1949 http://mises.org/Books/humanaction.pdf |
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Does everyone here quote themselves? No, you're wrong. See my previous post Only people who value their time and don't like repeating themselves. Read the posts I linked or don't I really don't care. If you read them and still think I am wrong say so and why and I will respond. Otherwise quite frankly you are not worth wasting my time on. |
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...
FRB increases the wealth divide because it creates money out of thin air.
And bitcoin is created out of??? And no, FRB does not create money out of thin air. And no, FRB does not increase the wealth divide. Money increases the wealth divide. Non-inflationary money like Bitcoin [will eventually become] maintains the wealth divide. Hoarders increase the wealth divide. Greed increases the wealth divide. Money revolutionaries like Danny Brewster, who praise your pseudo-liber notions to rob you, as well as people who get robbed by the likes of him, increase the wealth divide. FRB doesn't even rank, let's stop repeating nonsense. Bitcoin is created out of Work Bitcoin's non-inflationary property is not a problem because the very fact that it is non-inflationary will result in bitcoin eventually losing market share to some future superior cryptocurrency that has some built in inflation. Bitcoin thus won't increase or maintain the wealth divide because it is only the beginning of something better. FRB does effectively create money out of thin air. The posters up-thread describing it as fraud are correct. See the links to my posts on Finance linked above for a detailed analysis of this point. |
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Interesting breakdown of the pros and cons of the various anonymity technologies out there. Lots of new info on Zerocash which I have not read much on before.
Zerocash is interesting but I really dont like the idea of a single code that must be computed and destroyed
for the system to work. Tremendous temptation there for one of the developers to keep a copy of that on a USB stick somewhere just in case. Who would not want the ability to print money in total secrecy at whim.
Regardless I am happy to see competing technologies in this area as it is good for cryptocurrency.
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