this bet is clearly a ponzi scheme
Really? I got no dividends from previous investors yet.
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too much scary anarcho-capitalism and conspiracy talk in these forums, that's why I also get bitcointalk.org on page 2 of the google search results, but with "bitcoin forums" it's the first result. People should use more alternatives like duckduckgo.com anyway, the tenth or so result with https://duckduckgo.com/?q=bitcoin is the bitcointalk.org Marketplace section.
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Yup, the announcement will probably be that they'll set up a legal organization that will act as an official contact and information center for everything Bitcoin related. Hence all these legal questions. It was already proposed a while ago actually.
"Bitcoin" has no phone number, that confuses the hell out of old world people.
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being an Anarchist/Social Libertarian
so you aren't shocked of savage (Bitcoin powered) free markets like Chomsky is?
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This thread is OT.
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wow he set up a whole forum just talking to himself
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Sorry, but the Pirate Party here in Germany are wussing out already. They don't accept Bitcoins because it's too "uncontrollable", they largely lean towards leftish socialism. They want a basic income guarantee for everyone. They weakened their position about copyrights due to pressure from the establishment, their position's got not much to do with Rick Falkvinge's recent point anymore. They'll go the way of the German Green Party in the 80ies which started with high (albeit leftish) ideals but eventually got assimilated into the system.
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Bitcoin is the central protocol.
As above, so below. Some things we can't decentralize (for now), like the Internet, the Earth and the Sun.
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anwesendst!
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guess in the aftermath of certain ponzi collapses there will be legislation that will accept it as a viable commodity.
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yah it seems he will be on Keiser's show
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dammit, they got the wrong pirate
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come at me bro
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It's true that perfect money isn't deflationary, but it also isn't inflationary, it just is.
Money is just information. Who owes what to whom.
Ideally it would be invisible. Just like a designer would tell you the best tools are those that are "not in the way", that are invisible.
A giant computer network that's tracking all production, all consumption, all economic activity, would surely be dystopian but it could tell us exactly how much more we'd have to work in that factory before we're finally eligible for this nice Porsche car. This would be the invisible money I mean.
Something like Ripple comes close to this, especially when using "hours of unskilled labor" as the base accounting unit. People essentially print their money themselves here, and the interesting thing is you don't need to centrally control the money supply because everybody knows and agrees on how much hours a day has and what it's worth for them. Also, an hour today is still an hour in 20 years.
Of course concepts like this are inherently trust- and reputation-based though. So one (or more) cryptoanarchist came and didn't like a money being attached to identities that way, so they created Bitcoin which almost necessarily has to be modeled after a commodity with limited supply in order to allow for reasonable privacy, which is also the feature which made it almost instantly available world-wide.
So every approach to money has advantages and drawbacks. The perfect money can't exist. Thus I believe the future of money is parallel systems anyhow. If there's a problem that bitcoins become too scarce and unevenly distributed, people will substitute part of their economic activity with a Ripple-like system.
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The saddest and funniest thing about Bitcoin is when it hits over $10 a Bitcoin, most people are going to cash out. There will be very few who are going to keep their coins in the very late future. The dream of Bitcoin megawealth will only be experienced by a patient few.
The saddest and funniest thing about Bitcoin is when it hits over $100 a Bitcoin, most people are going to cash out. There will be very few who are going to keep their coins in the very late future. The dream of Bitcoin megawealth will only be experienced by a patient few.
The saddest and funniest thing about Bitcoin is when it hits over $1000 a Bitcoin, most people are going to cash out. There will be very few who are going to keep their coins in the very late future. The dream of Bitcoin megawealth will only be experienced by a patient few.
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Another aspect of demurrage currencies is that they encourage loans of little to no interest rates. So borrowers may prefer such a currency, hence, Freicoin *might* find its niche.
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could you all please stop posting these boring road signs which all look the same
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Economics is not an exact science. You can't isolate humans with some soil and resources into a laboratory. It's a social science. And I'd say for a regional currency demurrage is essential, * because it encourages spending this currency instead of the national, thus boosting the local economy, and * because otherwise in such a small economy, some will hoard too much, distribution would become too uneven and the money supply would become unstable. But I'm for something like Ripple for a regional economy anyway, we don't need monetary systems with centrally managed supply anymore, as we're living in the information age. And in the global scope, like intended with Freicoin, demurrage still doesn't make much sense for me. As many on this board would say, it's the production and not the consumption that matters.
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It's really hard to get scientific data on the Wörgl experiment.
the "experiment" was terminated by the Austrian National Bank on the 1st September 1933 [4][5]that's scientific (observational) data enough for me. and our Chiemgauer you can observe all the time.
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