There we go. If it wasn't already, today bitcoin is the laughing stock of the tech world.
Only because they are operating under the false premise that it was meant to have a stable exchange rate against the dollar. Anyway, when was it anything other than a laughing stock or "omg u can get rich by mining!"? |
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It sounds like you want to create a fork of the block chain with different rules. Why do you think it necessary to call your rules Bitcoin while the original rules (what is essentially Bitcoin)
die or go by a different name? If it is not necessary, then all you have to do is say that at some block in the future, you will create a fork of the block chain. This fork will enforce the rules you propose, but will go by a name other than "Bitcoin".
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Uhh... Yeah? You didn't know this? Of course, we always weigh the troll posts you make against the value of your normal posts. If your signal-to-noise ratio gets too high, however, you're out of here.
I was merely confused as it seems as if I can't read a thread without seeing a couple of what appear to be thinly disguised trolls from SA (or related). We miss a lot. Report trolling when you see it, and we'll look into it if the user does it Ok, I honestly didn't know that I should be reporting trolling, I thought it was for spam and threats and such. |
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I just wanted a stable currency. One that wouldn't inflate or deflate over time. Indeed it looks possible to create. It was just that nobody was interested in such a currency two years back. What would be the point? Everyone was going to get rich on the bitcoin plan.
Isn't that Bitcoin, after the subsidy is reduced to nothing? Can you think of a better way to perform the initial distribution of p2p money? I can't. |
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we human being are created from monkey (maybe God works step by step, too), and monkey know about "fairness", too. http://news.nationalgeographic.com/news/2003/09/0917_030917_monkeyfairness.htmlthe distribution of bitcoin is not fair. Those who say that they deserve every coin they mine are not honest enough, if they at the same time consider bitcoin is an alternative currency system to our traditional fiat money system. Tell you what. When you give away everything you don't need to absolutely sustain your life to those who have 1/100th of your wealth throughout the rest of the world, then we can talk about "fairness" without hypocrisy. |
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the units of bitcoin mutiplied by the exhchange rate roughly described how much the early adopters are paid The early adopters you're talking about are ones that haven't significantly liquidated their bitcoins, so this is by definition incorrect. maybe it's not the early adopters' fault to have such a big fortune Fault? This really sounds like pure jealousy. "maybe it's not Google's founders' (or their early investors') fault to have such a big fortune" - it makes no sense but you have to be honest enough as Warren Buffett admit that they billionaires don't deserve to paid sooooooooooo much. That's one man's opinion. One man that can give away 99% of his wealth and still live happily, yet only gives away a tiny portion. and Red's OP have told everyone enough, that if
1) you just put your 5000 USD investment of bitcoin away,
2) bitcoin were somehow "widely" adopted
how much you're paid. You have to admit that, you're paid toooooooooooooooooo much. You've still not defined "too much". |
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Are you honestly proposing that deflation causes people to accumulate money for the sake of accumulating money, rather than for exchanging for the goods and services that they need to survive or merely desire?
Well it depends. If you are forced to use the currency then yes, you would exchange it for goods and services. If use of the currency is voluntary then you are going to use it like a commodity rather than a currency, you'll just sit on it while it appreciates in value until you cash out. See Bitcoin and gold for examples of voluntary deflationary economies. So... when you convert it into a different asset... is that not "spending"? |
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Uhh... Yeah? You didn't know this? Of course, we always weigh the troll posts you make against the value of your normal posts. If your signal-to-noise ratio gets too high, however, you're out of here.
I was merely confused as it seems as if I can't read a thread without seeing a couple of what appear to be thinly disguised trolls from SA (or related). |
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This doesn't seem to follow the hoarding = decreased supply = increased price basic econ theory. Sure, hoarding may support the price artificially, but I don't see how it can make the price go down. Can you elaborate please?
The price goes up temporarily. When you spend the coins again, they are again is circulation, so the price goes back down. The part of my IRC conversation I did not quote, I mentioned that any hoarder trying to cash in will lower the price. If the coins had been hoarded for months or years, the marklet likely already deemed those coins "lost." Ok. So what? Is that somehow worse than prices constantly rising? |
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You're saying that the bitcoin early adopter should be paid. OK, maybe right, but don't you think you're planning pay yourself toooooooOOOoOOooooooo much?  No, I am saying they necessarily deserve every Bitcoin they have mined or traded for. How do you propose that "too much" or "too little" is determined? |
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Really, that simple? What does one do with savings?
In an inflationary environment you eventually invest or spend those savings. In a deflationary environment you save them some more. Please, don't be intellectually lazy. What does one do with those savings? Are you honestly proposing that deflation causes people to accumulate money for the sake of accumulating money, rather than for exchanging for the goods and services that they need to survive or merely desire? |
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Seriously, guys.
- Initial distribution is irrelevant in the long run. I believe someone's proven that, go look it up or something.
- Financial speculation is not something that should be dominated by a horde of impatient people.
- The cool thing about Bitcoin? It's not democratic, it doesn't give a shit what the mob thinks. Bitcoin is market-driven with a little bit of programmer's influence. Don't like it? Go back to the incompetent and uncaring governments' currencies if you like that better.
You now see the chaos while market forces take control. But you cannot change that. All you can do is a binary "I'm in" or "Bitcoin sucks".
I'm in.
I'm in. Don't really give a shit about the price. If it goes down, oh well, more people just get to be "early adopters". |
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beats sitting at home getting high
Like the two are mutually exclusive! |
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What you think the CH is going to sue you if you ban him from forum going to court requires revealing your identity and BTW I seem to remember reading in the BCX debacle that if he was lying the account was gone so double standard at work here or what??.
Let me put on my tinfoil hat and say that something smells fishy here. It's not a double-standard. Had BCX lied about his attack, he would have been trolling. If CH is lying, then he just pirating software, and that has nothing to do with the forum. As for why we'd try our hardest not to ban CoinHunter, that's because we don't want to EVER ban people here, especially for something as stupid as this. As I'm not an administrator, though, I can't say for certain what would happen. Lying to mods is not a bannable offense. Are you saying that trolling is a bannable offense? |
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What you think the CH is going to sue you if you ban him from forum going to court requires revealing your identity and BTW I seem to remember reading in the BCX debacle that if he was lying the account was gone so double standard at work here or what??.
Let me put on my tinfoil hat and say that something smells fishy here. |
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Are you saying that decreasing prices is a detriment to commerce?
Deflation encourages saving and thus necessarily discourages trading, simple as that. Really, that simple? What does one do with savings? |
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Hey, watch this, see the awful hypocrisy:
If you want a reboot of Bitcointhe dollar, start your own fucking block chaincurrency. By advocating a reboot, you're merely exposing your jealousy at not being an early enough adopterborn earlier and into a rich family. After the first reboot, let say Bitcoin reaches a similar stage as it is at now, with 1% of the world populationSatoshi, Gavin, Magical Tux, and BitterTea using it. Oh no, those dreadful early adopters are back! Reboot Bitcoin again!
Hypocrisy? I give you a 1/10 troll score. Try again with logic. Bitcoin = new currency, not a reboot of the dollar |
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Active times.. We have seen a big reversal upwards.
Could you elaborate? |
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I want you guys to run this thing right into the ground.
Why? |
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They do however not contribute much any more. What is the basis for this assertion? They are the 1%. They're not rich because they contribute something now. To compare those who mined or bought Bitcoin early with those who use the political system to extract wealth from those who do not is ridiculous. Now, those who put that capital to work and try to better the infrastructure around BTC do deserve whatever riches comes to them. Those who were just lucky enough to find out about bitcoin a year ago and mined a crapload doesn't. You continue to baselessly assume that the two groups are mutually exclusive. Wouldn't it be in the self interest for who "mined a crapload" to spend part of that "crapload" building infrastructure? Do you assume that they are stupid as well as selfish and greedy, and that they cling to every last satoshi even if it means that Bitcoin never becomes widely adopted? Hence, only those who don't contribute would object to a reboot of bitcoin.
If you want a reboot of Bitcoin, start your own fucking block chain. By advocating a reboot, you're merely exposing your jealousy at not being an early enough adopter. After the first reboot, let say Bitcoin reaches a similar stage as it is at now, with 1% of the world population using it. Oh no, those dreadful early adopters are back! Reboot Bitcoin again! |
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