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Why is it hard for people to understand the difference between betting something will happen and saying something could happen? If I said:
The earth could get hit tomorrow by an asteroid and wipeout much of humanity. I bet that won't happen.
That doesn't mean I am predicting two different things. It means I am acknowledging a risk and I am taking a stance despite that risk.
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"Constant deflation stops people from using it as a medium of exchange."
I don't think there is such a thing as constant deflation. Definitely not in regard to bitcoin.
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It's incredibly easy to program prices in something that doesn't fluctuate much and tie it to bitcoins. Go to the bitcoinstore and see for yourself.
Brick and mortar stores might have it more tricky... but LED signs would easily fix that. In the future OLED's will be printable... all you will see are LED signs and not because of bitcoins... because it would be so easy to adjust the prices it would save labor.
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Nobody ever complains in a casino "my chips aren't made of precious metal". You don't need to make casino chips out of precious metal... as is proven by the lack of any complaints in a casino chip system. The tokens are issued 1:1 with collateral. Inflation in this way... is impossible. Yet the tokens themselves are used to transact real value... upwards of millions of dollars and there is never a problem. How is it that a valueless token can facilitate the transaction of so much value with nary a problem? Because that is what money is designed to do. It's simply meant to make exchange easier. The value of the tokens is so consistent because the supply of them is controlled in an exact manner. They are simply not fabricated and given out on whim. What makes gold valuable and useful for money is it's scarcity. And that scarcity means that if gold is what is backing a money supply, then the scarcity of that money supply is also controlled. A gold backed money supply puts automatic limits on the creation of that money... much like how bitcoin has automatic limits based off the rules of the network which everyone participates in because of their own self interest. http://www.reddit.com/r/Bitcoin/comments/1ay8pe/the_intrinsic_value_myth/ |
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Just thought I would put this out there. I have read things on the internet lately about people wanting to start their own societies. I also read tonight about "galts gulch" in chile.
Anyway here is what I crave.
The society I imagine would primary live in monolithic domes. They would be built buried in the ground and covered with grassy knolls. Round windows and chimneys might be visible. Essentially it would look just like the shire from the hobbit but the houses themselves... monolithic domes are better IMO than "stick built" houses. They withstand natural disasters incredibly well. (wildfires, earthquakes, tornadoes/hurricanes, termites.. etc) . They are also very energy efficient and although concrete isn't carbon neutral.... they would have a much longer lifespan than normal houses (400 years vs 100).
So that's one main point of what I want in a libertarian community . I don't really want to get the impression of it being a hippy place though. I like technology. So some kind of internet would be a must. Maybe geothermal for energy.
Besides monolithic domes... there is one other major criteria I would have. Some may find it strange or silly. it's called humanure. I believe that our high tech sewer systems are actually a bad design. Good for hygiene......... but bad for the soil. When people eat vegetables or meat or anything ... nutrients come from the soil. They should be returned to the soil. Human manure decomposes as any other manure does... and if it is composted properly and returned to the soil you can ensure that the soil will thrive over time. I believe the health of the soil is crucial for any society.
so aside from those things... a local currency ... or even bitcoins themselves could be used for all trade. It would be cool to have an entire bitcoin community somewhere.
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i've only been involved a couple months but I spent 9 ! . Ideally I would like my paychecks to get automatically converted into bitcoins. Then I would pay everything with them if I could. If it were possible.
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Bump. (next bump if something changes, or a week+ from now)
Title report? Summary: Clean title w/ title insurance obtained when I purchased these lots. Currently there is one associated lien, the mortgage on the collective two lots (one debt, two lots). Can furnish more details to serious inquirers. you've been in bitcoin for years don't you have a crapload already ? Lol  |
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I guess I like the idea of personal responsibility and the freedom that comes with it. What right even does the government have to take some of your money and "save" it for you? If someone is too stupid not to save part of their paycheck then that's their fault. If people want to develop a form of old people insurance then it should be something that is voluntary. Whoever wants in can get in. But you shouldn't force people.
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The whole idea of social security appalls me. The idea that they take some of our money to save it for us. And in reality they just go and dip into those funds to spend at will. It's stupid.
Actually, it's not stupid. I'm sure there are some hundred million or so that are thankful that their parents receive a social security check. "thanks govn't for giving me my money back and saving it for me" . Meanwhile the government hopes that you die before you get what you put into it back out. |
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The whole idea of social security appalls me. The idea that they take some of our money to save it for us. And in reality they just go and dip into those funds to spend at will. It's stupid.
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Does someone who owns property have a right to the air over their property? Can they charge people to breathe it? could they somehow harvest it and create a permanent oxygen vacuum so nothing alive could reside in it? do they have a right to airspace over their property? If they don't own the oxygen over their property why do they own the precious metals or oil below it? do they own the magma really really below it? At what point does that stop? 100 feet? The radius of the earth?
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well I agree it is bullish for btc... I just doin't think the price surge was because of that. The price surged because people already had money lined up ready to invest. Those people had to already know about bitcoin so they had to know that bitcoin saving your money from being confiscated was already possible with bitcoin. It's not some new piece of information. I guess you could say that some people who are involved with bitcoin didn't know it was possible that savings in banks could be confiscated.... and to some degree the price rise might be from those people but I bet by and large it is from the FinCEN.
Also I think it's kind of silly for people to react to this savings confiscation differently than the simple printing of more currency. It's not different than confiscation through inflation. Both are robbing purchasing power. One is just more sneaky.
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IMO people are foolish to think this has to do with the price spike. That would imply that people in spain knew about bitcoin... didn't invest in it.. but all the sudden hear about bank confiscation and decide to invest. There are a couple of problems with that scenario. For one... right now it's hard to buy bitcoins. It takes time. People probably didn't know about bitcoin before savings were confiscated so how would they know about it all the sudden?
The recent price surge is obvious.... it coincides directly with the FinCEN release. Apparently some people were waiting in the wings for some kind of government acknowledgement of bitcoin... good or bad. Apparently the release that they did was good enough some who were holding back to get further invested.
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When I first heard about this....... it remember reading that one of the reasons it would attract "institutional" investors is because the money deposits (in dollars) would be insured.
However, I've read this isn't actually the case. The cash deposits are still not going to be sured. (I can't cite where I read it I just remember it )
so if that is true how would it attract institutional investors? would ach transfers just be quicker that is all?
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Those who are intermediaries in the transfer of virtual currencies from
one person to another person, or to another location, are money transmitters that must register
with FinCEN as MSBs unless an exception applies. Doesn't this mean all those services we hoped would be built up around bitcoin to take transactions off the blockchain mean they are now money transmitters? Doesn't this mean that the bitcoin tip bot, for instance, is now illegal... or going to be targetted by FinCEN? |
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I bought a netbook and password thing from thebitcoin store on 3/02 . The transaction seemed to work fine and went through and the bitcoins did leave my wallet. I never got my item though and after contacting them they said they don't have the order in their database but it might be i ordered after some invoice expired and it was sent to bitpay or something.
Anyways here are the transaction details
Transaction ID:
fda4d7bd13e0153b1db3f3ea015ba6fed9fe3f8b209b55282fc79d9859f06470
Status: 2890 confirmations
Amount sent: -7.7083
Transaction fee: -0.002
Date: 2013-03-02 16:10
Inputs:
-1P3RQHZEBa2ncLRCiw8Zm2cZNTqdbxvpNc
-1P3RQHZEBa2ncLRCiw8Zm2cZNTqdbxvpNc
Outputs:
-1KX7u24PkksdfYT4M9Y2ZFekh2Un2jxX7Z
-1AenmbjibuPAmAGMoJ4xbd4xuSd1G8UhrS
any chance anybody can figure out what those 2 outputs are? do either belong to bitpay?
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