Without the early miners and "hoarders", why would there be any infrastructure created in the first place?

You completely dismiss the fact that if it were not for them, you would not be here, discussing how evil those early miners and hoarders were.

I'm really confused. Who are the moochers?

I don't want to pay taxes, but I also don't want to rely upon government services. Unfortunately, they do not allow competition, so I have no choice.

I suppose those who refuse to pay protection money to the mafia are "moochers" too?

A very thought provoking post. I feel that you are missing something crucial, but I will have to think on it a while.

In the mean time, I wanted to respond to this in particular. We are not Satoshi's "friends", we are the individuals that built all of the infrastructure surrounding Bitcoin, and believed in it before anyone else. If it does become widely adopted, should all the work done up until this point be dismissed as useless? Were it not for this work, would it ever become adopted in the first place?

How can they print money to pay the debt without increasing the money supply?

BZZZT. Not Bitcoin. Try again.

The wealthy can only cheat the system because the system is designed to be cheated. Your system will be no different.

Get rid of the system, and you get rid of the problem. Institutionalized violence will never be a solution to the problem of violence!

I think your view of what people want is severely distorted by what you want.

Take a step back and ask yourself if people really want to give up one financial dictator for one that is even more dictatorial.

What the hell are you on? He hasn't mentioned anything about "financial services". The purpose of this thread was to find out where he can direct people to buy Bitcoins with Google Checkout.

You have not explained how you will track down someone using an invalid address...

I'm not sure what you mean. I spoke with him at length on IRC, and we conducted it using a GPG signed "contract".

According to Google, they do allow for virtual currencies to be purchased with Checkout. Though I'm not sure if they consider Bitcoin to fall into this category.

http://www.google.com/support/forum/p/checkout-merchants/thread?tid=3dd3aaeb58f9fd94&hl=en

http://www.btcnow.net/

I loaned this individual 100 BTC and was paid back on time. I've not heard any complaints from any buyers, either.

If $10,000 were put in everybody's bank account? Yes. All dollars are now worth ($10000 * # of bank accounts) / (previous total dollars in circulation) less.


What do you think will happen when 14 trillion dollars is created out of thin air? It rhymes with "sniper damnation".


It means everyone's money has more purchasing power. Those who "hoarded huge amounts of money" are now more tempted into spending it, due to this. There's an equilibrium here that you're not seeing. Money hoarded -> purchasing power (for everyone) increases -> money spent -> purchasing power (for everyone) decreases until a balance is reached.


There is no such thing as "the public good".

Are you saying that decreasing prices is a detriment to commerce? Increasing prices are benefit?

So is the use of physical money illegal in your ideal society too? What about barter?

Also, if it's so easy, please explain how to turn a bitcoin address into a human identity.

You're still delusional if you think linking a Bitcoin address to a human being is easier than linking a bank account to one.

I said nothing of the value of a Bitcoin. I was referring to the fact that 99% of all Bitcoins will be in existence by 2032. The value has little to do with population, and much to do with the quantity of goods and services that can be bought with them. With a fixed money supply, and zero population growth, the value of Bitcoins will rise if the output of the Bitcoin economy increases.

You can read them, but can you actually comprehend 500 wpm? Kind of explains why you never seemed to grasp what was being told to you in the IP thread.

The military industrial complex is a creation of the state.

Blackwater is a way for ex-military to get lucrative no-bid no-compete government contracts, siphoning taxpayer funds.

Really, how can you guys be so blind to the fact that an institution built upon the initiation of violence can never prevent violence.

I suppose that you think those confused southern boys being brainwashed by the government and turned into psychopaths who have no problem killing people for cash and national glory is better.

Right. Because they can make you give them money. No, only the government does that.


The Federal Reserve's policies for one, propped up the housing bubble instead of letting it collapse when it was much smaller. This wasn't helped at all by the laws requiring lenders (at least those fed by tax money) to loan to those who were in greater risk of foreclosing. Nor by the fact that financial giants knew they would be bailed out by the government if their wild risks failed.

Don't forget that corporations are granted their status as entities by the government, and their number one legal responsibility is to their shareholders. There's also the fact that as a regulatory body financed by taxation, the government has no economic incentives to keep costs low or service quality high. Had it been a private regulatory agency in charge of overseeing the financial industry during our crisis, I guarantee you would not be calling for them to have increased power, but to be shut the fuck down.

Please don't think that I'm pinning our problems on some new oversight rule that the government is imposing on the financial sector. As I explained above, a private agency would have better incentives for properly regulating, but these are the least of the government's flaws. The big ones run deep, like central banking, inflationary money supply, public schooling (I consider it a form of religious indoctrination).


Please produce evidence, or at the very least a coherent argument, that this is the case.