What the hell am I looking at? It's an unbelievably popular April Fools' Day joke around here. Kids use it on their parents. Maybe I'm getting old because I don't find that really funny It's really not. |
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Exchanges aren't the entire market. I've moved to doing in-person exchanges while Gox USD withdrawals have been on hiatus. Gives me a chance to meet people, too.
I think there are a good few others in the same boat, though I'm sure it's nothing like the total volume Gox used to have. Never heard of "price discovery" in one-on-one BTC transactions, though. There always seems to be an infinite supply and demand at the exchange rate (though probably not Gox, anymore). Given that, an increase of price on btc-e or BitStamp probably has the same effect movement on Gox had when its pricing was used.
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When does the congress vote on this?
Two days before 9/11. and this made me confused.. September 9th, 2013. |
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What the hell am I looking at? It's an unbelievably popular April Fools' Day joke around here. Kids use it on their parents. |
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When does the congress vote on this?
Two days before 9/11. |
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Perhaps they're looking at even larger profits with that venture. You're seriously oversimplifying our world.
Follow your argument to its logical conclusion and anything anyone should ever do is buy a shitload of BTC on margin on Bitfinex. Obviously that's silly. You need actual investments, not just financial investments, for BTC to take off.
Huh. I concede defeat. You're right. By accepting both USD and BTC, a business with an advantage over competitors is viable whether BTC succeeds (increasing price/adoption) or fails (decreasing price/adoption). There is less risk. If BTC succeeds, they may not get the same level of RoI as simply holding BTC, but they are protected if BTC never achieves mass adoption, too. This isn't really true of the Bitcoin ATM example, and I can't think of any BTC-related businesses other than BitcoinStore (and gambling sites, though this would lead to a different argument) which offer an advantage over conventional stores in their market - but at least for BitcoinStore, the argument doesn't hold water. What I wrote before re-reading and realizing I was wrong: Prisoner's dilemma. So who wants to self-sacrifice to invest in a Bitcoin ATM (or another venture in the same boat)? It's only seeing big success if Bitcoin takes off. If Bitcoin takes off, the chance of an ATM providing superior profitability than holding BTC is probably very unlikely. What kind of businesses exist in the BTC world right now? Payment processors skimming BTC, mining farms generating BTC, gambling services skimming BTC, lenders skimming BTC, escrow skimming BTC, auction sites skimming BTC, pre-order companies taking BTC, and a very small handful of companies like BitcoinStore, which isn't meeting its contract quotas (and very possibly immediately converting BTC to USD to repurchase stock, so it'd be more of a pass-through [if that's the case]). I could understand diversification of currency acceptance - by accepting both BTC and USD you aren't just "betting on BTC," but most BTC-accepting companies (with BitcoinStore incidentally being an exception) offer no advantage except that they accept BTC. If they couldn't accept BTC, most would almost certainly fade into obscurity. |
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So many flawed assumptions
"BTC would almost certainly increase in value faster than equity in a USD-reliant BTC-related business"
Dude, even with a bullish outlook that's less than certain, and even so: what about risk-adjusted returns?
"ASIC manufacturers are an exception since they're basically loaned the BTC for a long length of time (ASICMiner excluded), which gives them a major long position."
ASIC manufacturers are massively long BTC? Bunch of idiots. They should hedge that. And maybe they do!
Using a business-in-fiat model which relies on increased BTC adoption (like a BTC ATM) would basically rely on the price of BTC (through adoption, which is what they're actually looking for) increasing. If you're betting on increased adoption, why would you ever invest in a business in which success relies on BTC adoption instead of just investing in BTC? Investing in BTC - if it's kept secure - there's definitely not more risk in holding vs. investing in a registered company. The only models using BTC which make sense to me skim off the top of BTC revenue. BTC-denom lending, or anything handling BTC transactions which take a % cut. If you're going to bet on Bitcoin - why would you invest in a business model which mostly uses fiat? As for ASIC manufacturers - I actually have no idea if they're long BTC. They don't release that kind of stuff. Theoretically, one might exist which didn't use pre-order funds to manufacture (as is legally prohibited in a good many places), and kept the bulk of, or all funds in BTC. Maybe they hedged. Maybe not. ETA: For clarity - I'm not asking about why someone would be long on BTC. I'm asking why someone betting on Bitcoin would use a business where capital is not tied into assets which'd appreciate with Bitcoin. |
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ATM, Bitstamp doesn't have to start the conversation with:
Q: Why are you interested in our services?
A: Well, the funds in our last banks were confiscated, and the DHS seized our Dwolla account, too. We have months of backlog and are operating at a loss in the US. We entered an agreement with another company to have them take over our US operations, but we're now the defendant in a $75m (or whatever the number is) lawsuit with them over breach of contract.
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There was recently a thread posted on BTC-rich people investing in a BTC ATM manufacturer. Well... if they were bullish on BTC, why would they invest in a fiat-reliant manufacturer when (with a bullish outlook) BTC would almost certainly increase in value faster than equity in a fiat-reliant BTC-related business? AFAIK, there is no group of industrial manufacturers which could manufacture components and assemble a BTC ATM. The best they could probably do is choose a team of assemblers who'll work for BTC and exclusively accept BTC for payment. Ultimately, the best business plan would probably be to.... do nothing and just sit on the coins. ASIC manufacturers are an exception since they're basically loaned the BTC for a long length of time (ASICMiner excluded), which gives them a major long position. So... Can an investment in something like a Bitcoin ATM be anything but charity? (There are some other drawbacks to an equity investment, too, such as the lower liquidity and extra regulatory risk. Someone please give me a better phrase than "fiat-reliant, BTC-related"  ) |
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Fascinating. I love looking at this stuff. Wouldn't the obvious choice of funding be to charge a transaction fee rather than limit audience with an upfront fee? I mean - you have a kind of BitMit system built in the marketplace - and I like that BTC is just an alternate choice of currency. Wondering what made you decide to go with an upfront fee with a recurring subscription? Generally, you get some type of 7 or 14 day trial for free, at least.
Is GP tradeable for BTC? Are all items tradeable for GP/BTC, or are there "no-drops"? The turn system is concerning. Are you planning on selling turns? What made you decide to have a turn system on a subscription game?
The "Mystery" object is also a first for MMORPGs, I believe. It can literally contain money, meaning there's a chance the developers will be paying you directly for playing. It's both pay-to-play and (directly!) pay-for-play.
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Put people in imaginary boxes, exaggerate and attack things that aren't there. It's a classic approach.
From my point of view, the author's comments reveal the most:
"The fact that dollars lose value makes you spend or invest them. That is what drives economic activity"
I think a lot of Bitcoin enthusiasts got ahead of this old way of thinking. If depreciating dollars would drive activity, our economy would be booming for the last 30 years non-stop.
Good luck holding on to your dollars (and shaky ideas), Sir!
(Not going to read any article with "MySpace of money" in the title, but...) If the USD stopped inflating, the US would be completely fucked. Can you even imagine the implications of houses without that strong upward pressure on nominal value, and loans actually costing money? The housing market would tank from all the new underwater housing loans, setting off an economic shitstorm. The global economy would falter and possible enter a global depression for a decade or more. USG default would be unavoidable if the USD quickly moved from being inflationary to deflationary. We'd lose all that effective revenue from devaluing our national debt, so it'd probably be necessary to cut off the vast majority of welfare, and while it might be nice that the price of bread isn't increasing a few % each year, they won't be buying any bread with no job, decreasing equity in their house, and no welfare. The USD isn't popular just because it's legal tender. Huge USD loans are practically free, often value-generating for consumers and businesses. A BTC-denom mortgage might sound cool, but it'd be a flat-out stupid choice by the lendee, and that's why I doubt BTC will ever successfully kick a fiat currency out of any country without an ideological uprising. Parents Against Inflationary Numismatics? ETA: liberatarians love to talk about inflation and the national debt separately, but tend not to connect the two. Our national debt is right around $17t. In FY2012, we paid ~$360b on that. If we achieve 5% annual inflation, that $17t debt devalues by $850b. The USG would effectively generate $490b by having issued a shit-load of debt while inflating the currency and still maintaining confidence in that currency and the USG. The USG debt GENERATES REVENUE, and we make other countries pay for it. That's the most awesome Jew-fu out there. Your whole analysis is flawed since it is based on the assumption that inflation appears to be a net benefit to the economy. It is not, it is a net cost. (Not the least of which because it increases wealth and income disparities.) You cannot print your way to prosperity .... dyodd. It's not proven that it's a net cost for society, AFAIK. There are plenty of costs, and plenty of benefits, though government reaps most of them (so you probably need to come from a position where the current USG is mostly beneficial to society to believe that inflation isn't a bad thing). We're a nation of debt, so I'm inclined to believe inflation is very possibly a net gain for the US, especially for the middle class. The jobless poor are probably getting screwed (Welfare is the government's apology), the 10 cranky old men refusing to take on debt are probably getting screwed, but everyone else is very possibly coming out ahead, given foreigners buy our national and corporate bonds. For the world as a whole? Definitely a net loss - but if we reversed course now, it'd be an incredible loss for reasons I briefly went over (which is all theory, too, but with reasonable foundation, I think) -- very long-term (next generation), it could turn into a net gain. I'm more interested in rambling about what an incredible system it is (even if detrimental, possibly evil, or at the very least, manipulative), and people should have the whole picture on inflation before believing it's bad based only on it being a hidden tax. It's really an awesome set of ideas which're working together, in the same way ICBMs are awesome. Following the OP author's lead, then - inflation is the ICBM of economics.  |
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Outside US, doesn't comply with extradition demands, and doesn't have similar laws.
TO THE MOON!!!
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Here in Australia we have a fairly complicated mess of privatised and government run energy organisations and their mode of operation varies regionally just to make things extra-confusing.
Where I live my current residential provider charges at $0.29 / kWh with planned +~10% yearly for the next forever, because of distribution network (grid) costs supposedly brought on by an over-saturation of solar installations. This is for the standard tarrif, there exists many other tarrifs that supply time-controlled electricity for pool pumps, bulk hot water heaters, etc. The cost of these can be as low as 50% of the normal $0.29 / kWh tarrif.
There are different ways that providers bill different non-residential customers here. Some commercial spaces are billed directly for their kWh use just like residential. So no luck running your 50 KW scrypt farm there...
Others like restaurants and industry locations can have completely different kinds of agreements. I have seen some where they are billed based on the daily minimum and maximum instantaneous consumption value. As for if this is a good deal or not depends exactly on how clever the person who signed up for that agreement was and how well they know their equipment. This is surely not the kind of thing you would be able to sign up for without being a registered business and perhaps a visit or two from your local energy supplier to see exactly what you needed the power for...
Out of curiosity, are there programs in place by the governments and electricity companies of your area to subsidize (encourage) residents to handle electricity programs themselves. For example, if you operated a small solar farm, are you permitted to sell the electricity back to "the grid"? |
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if the USD quickly moved from being inflationary to deflationary. We'd lose all that effective revenue from devaluing our national debt,
By "we", to whom are you referring? "We the people" or "We the federal government" or some other we? Hint: Bitcoin is global. USG. I'm trying, but it feels treasonous and tinfoil-y to.... can't..... terrorism... brain... money laundering is enabled by terrorists using terrorist methods of moving money around, like cash and Bitcoin, not a corrupt bureaucratic Iron Triangle. Terrorists can't use banks, because laws are carefully crafted by wise, hardened politicians. No. Iron Triangles refer exclusively to evil communist tunnels terrorists snuck around in because they were nefarious and too incompetent to fight directly with technologically-superior Americans of heavy stock (due to our exceptionally high level of productivity enabled with the most brilliant of minds and the most hard-working muscles on the planet). What? Kitchens should only use American box wine from Freedomfornia. Privacy is a criminal idea.   |
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(speculation admission -- pew-pew diplomacy fantasy)
No. It'd be China & Russia (basically the entirety of the remaining countries sticking to the "Partnership for Peace" over fully integrating into NATO) vs. world. They aren't led by complete imbeciles, so the world war fantasy is flat-out implausible.
These asinine strikes on underdeveloped countries aren't an attack on a NATO member -- they're US-aggressive wars "strikes" - so NATO members can fairly safely just say "nah, ain't relevant to my interests." However, if a NATO member were actually DoW'd by another country (like Iran), NATO members would be compelled to strike back at the aggressor. So, basically, the USG can go around shooting at any non-NATO country it likes on its own, but if another country dares to intervene, all of NATO comes down on them. The Partnership for Peace is in no position to intervene in any Western imperialist aggression. Their only real bet is to rattle the nuclear sabers, which'd also be suicide, but they might "win," at least. Economically, they're just as reliant on us as we are on them -- even a conventional war between the US and China would be mutually-assured destruction.
So, anyway - think of it this way. Syria can defend themselves and just play around with the USG until the USG gets tired and says "alright - Al-Assad is replaced, we killed a lot of aggressive natives, and the remaining natives accepted a USG-approved leader. We'll call this victory and head out." However, if Iran decided to walk into the conflict, it'd eliminate any chance Syrians had of negotiating a relatively status quo peace agreement, because Iran (or whatever) would've given valid cause of war, and lawfully compelled the Europeans to join in the massacre. All of NATO would be on Syria and Iran if Iran or any other country were stupid enough to intervene, and they'd almost certainly end up as NATO satellites (Germany-style) instead of possibly being allowed a relative amount of independence if the citizens of Syria realize it's hopeless and bow to the USG. Right now, the US has absolutely no valid cause to occupy and effectively vassalize Syria. They claim they have cause to just pop in, kill off try the executive branch and some other dissidents of US-NATO hegemony, establish a "fair" government, and head back out -- it's BS, but Eurasia isn't going to take a Syrian invasion alone as cause for intervening against the US.
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Put people in imaginary boxes, exaggerate and attack things that aren't there. It's a classic approach.
From my point of view, the author's comments reveal the most:
"The fact that dollars lose value makes you spend or invest them. That is what drives economic activity"
I think a lot of Bitcoin enthusiasts got ahead of this old way of thinking. If depreciating dollars would drive activity, our economy would be booming for the last 30 years non-stop.
Good luck holding on to your dollars (and shaky ideas), Sir!
(Not going to read any article with "MySpace of money" in the title, but...) If the USD stopped inflating, the US would be completely fucked. Can you even imagine the implications of houses without that strong upward pressure on nominal value, and loans actually costing money? The housing market would tank from all the new underwater housing loans, setting off an economic shitstorm. The global economy would falter and possible enter a global depression for a decade or more. USG default would be unavoidable if the USD quickly moved from being inflationary to deflationary. We'd lose all that effective revenue from devaluing our national debt, so it'd probably be necessary to cut off the vast majority of welfare, and while it might be nice that the price of bread isn't increasing a few % each year, they won't be buying any bread with no job, decreasing equity in their house, and no welfare. The USD isn't popular just because it's legal tender. Huge USD loans are practically free, often value-generating for consumers and businesses. A BTC-denom mortgage might sound cool, but it'd be a flat-out stupid choice by the lendee, and that's why I doubt BTC will ever successfully kick a fiat currency out of any country without an ideological uprising. Parents Against Inflationary Numismatics? ETA: liberatarians love to talk about inflation and the national debt separately, but tend not to connect the two. Our national debt is right around $17t. In FY2012, we paid ~$360b on that. If we achieve 5% annual inflation, that $17t debt devalues by $850b. The USG would effectively generate $490b by having issued a shit-load of debt while inflating the currency and still maintaining confidence in that currency and the USG. The USG debt GENERATES REVENUE, and we make other countries pay for it. That's the most awesome Jew-fu out there. |
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Posting as required for this list. Free/tips for most transactions. PGP available on request. Cas' third-party escrow (less risk of me running off with funds) available for a minimum fee of .1BTC or 1% of the transacted amount, whichever's greater. Man-in-the-middle escrow (item's shipped to me to inspect before sending to buyer) also available on request, though usually too expensive. A list of old and current escrow transactions can be found @ https://docs.google.com/spreadsheet/pub?key=0Ao892S4MOoDZdFFTc0tFbWVxUTZFVzVOMWxzV3pkclE&output=html (you can obviously opt-out of being in that sheet  ) PGP key recently changed. Signed with an old one (I no longer control the domain on the old one). -----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 Kluge, verifying the following PGP key is legitimate (signed with old key, ID 71984B49) ------BEGIN PGP PUBLIC KEY BLOCK----- Version: GnuPG v2.0.17 (MingW32) mQENBFIaM3cBCAC/mzjEMmysr0BWHlU/Rj/1uP1CyDdeVU3SQShpj3rTQv/SpW57 hF8lYxe+XvAhT85zJR6NvYZ5DhyIAGYXx0Rg0ymDe3fndON8djjPKPBvDDxckTIM Bve1SKQjgT96LlBzs59NSVhxpn+B6CV32vrannmntNNcShMPXJZT6Vo8MnmFk8+b v4fCGwNF3Rd6JqGo+P2YAFcmh32dtasDq04fLNQ5UohLXdxZoYia2kkYQbpjO4YW rScDUvdwSMz009gybx3EIgPAqdx3mOuL44lvjxGqJs7q7SMMrFO2mc6JJEsxWQHI Uux71xC2Dcqu0wQVmhykdINUhaMJ9XtYAJK5ABEBAAG0HUJlbiBNYWxlYyA8QmVu am0wMEBnbWFpbC5jb20+iQE4BBMBAgAiBQJSGjN3AhsDBgsJCAcDAgYVCAIJCgsE FgIDAQIeAQIXgAAKCRDSzdg9gxxu1cKJCACVD0RlrvRcvSlfghwyQl1/Q69RWUaS 02t5cegLcH/sSfhA20w8ctzfTYtTQ2QYELEL08KYouhKgeuCJ8C59/kDcROppEg4 LV/DwqKrGtyQN+r0DbGumhBiTPplPqVUI32/lcAIDGUKRmV+sjorDuE50nj/IfE7 ItuGz44cA71eg23nDyIlZ1D+gtVXJH3gKgn/p4zgyav4eoaEVFksxSi1mbNi2sOM +sermO9Pz1Usfwv/FzavYK26oBxDF8AoZ5A2wNSQJCaaz47vTYMjtF/CGs45rfTO 7+aVuyskG4WO7CEDCImy0HJfk4W30Cfw8dOr/tDy8UViUPcKLMW6I3JHuQENBFIa M3cBCACj/e1i30PlxFxE7A7PPbrls0cwQ0Rxeoe08oeB10aRZVmI5h3CBLAPWVrW CHS1bsqCdsZJ6xlouRkFu7stTa07I7jdvRxtxO5Cy3GjT/M5v5+sN5NIWXH5OuJb djRlBMObzM0B9k/1WpJ07lIia5VSnbQ3fkrq+h7SfxsBQ9MoHksSbzlxSIhfKMv4 G952lEMz1K2t7pt0gs43dvGuW+X780d4Pny2kkl9PeOwM1EZcTOb4LGsQcV4P8/l ow7zvcaJK543Nm0vcAVTsJAl0eMrAIHyAGw/anIdPlDQAZbz7R/puEoDde50sNkf bkX/OZf43tCqra3XFY8j1h7tgdEJABEBAAGJAR8EGAECAAkFAlIaM3cCGwwACgkQ 0s3YPYMcbtXbiAf+OsTuiKLWm++ya3g53E5xKoru3I9Ir6E/rP3u5X6ZH7ZppEcR I9v4Mgsa3GQsI6KAlcNU6TcK0hsWBYN6URejiFjdeT5niKdrHG+QmgKlBoCY0uMA YzNCK597hSS8/lvwbG/yLPz8Vi7B8dUL6We0AHj5FqHMZuSOAC1BpglbZ7LrK2uP gushODlnI5F+WGGuAOv7eXleuePOdIaputWxvSUTHFRzi97Du/XcWiwBCnRPTaSs jiIHHkQIakQx0Vurpih0jc8lx1RagH4gtsshQuSgybgeW3PAqjNlQv8C4va8oaV+ c47Z6XL/fFNZg9zGZERzXOYCygGJMmHJlgFB9w== =W6L9 ------END PGP PUBLIC KEY BLOCK----- -----BEGIN PGP SIGNATURE----- Version: GnuPG v2.0.17 (MingW32) iEYEARECAAYFAlIhsOYACgkQCS0LhMYwhal3XQCfcsL2VICu14M1PK2ZaMh8+mtW nNgAoMSWcrX+4IOVhVh2Cgc6eVLCClY3 =fQiy -----END PGP SIGNATURE----- |
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hahah, I played the original Shogun back when it first came out on a CD-ROM I know all the tricks to get the game mostly working  I just find it sad that I have to do all these workarounds in order to enjoy a game that would be perfectly good if it was programmed properly. I wish they'd just fucking fix it but I doubt they will until the original staff quit or get fired somehow because they seem to be in arrogant denial like most established games industry companies. So far the only inspiration the games industry has provided lately for my own programming projects is how absolutely not to do games, I just recently rage quit on Saints Row IV because the fuckers hadn't programmed that properly either, I was almost to the end of a large battle and then the game crashed on me, forcing me to load up from the beginning because they wouldn't allow you to save wherever you wanted during a mission. Absolutely fucking shitty cunting coding, really horrible. First of all, after playing it - fuck you for criticizing SR4. Secondly - fuck Volition and their stupid cunting song choice. Don't get me wrong - I'm pretty sure that was the best intro sequence I've ever watched. But now... in my head.... that horrible Aerosmith song (I thought it was Meatloaf before noticing in the end-credits). Don't wanna close my eyes, don't wanna fall asleep, cause I'd miss you baby, and I don't want to miss a thi-ing. Ugh. |
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Ok satoshi's is wrong but what is right... satoshis
Or would the plural of satoshi be satoshi kind of like deer is the plural of deer
Has this even been defined yet?
... Huh. I've never heard it suggested that satoshi could have an irregular plural form... Normally, something ending in -is turns into -es, so it'd be satoshes - but satoshi only ends in -is once plural (if regular), so that doesn't apply. -i is a semi-common irregular plural suffix. Cactus->cacti - so it could stay the same, and I don't think many would think twice. I'm not sure we can use English rules on a Japanese word/name, though. Trying to think of a singular noun which ends in i... (What was this thread about? -- Oh. Yeah. This has been discussed a lot. With the minimum fee on many transactions, and the default rules on the smallest amount which can be sent without being "dust," going with Satoshis would require most people add a shit-load of zeros.... zeroes...... ..... ..... huh.) ETA: Ski -> skis. khaki -> khakis. Regular. I'm pretty sure satoshi would turn into satoshis. Looks weird. Skis looks weird, too, though, so I guess it's all fine. |
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