But US got the strength (army guns knowlage)... Pretend you are in grade school and there is no teachers, who is the boss ? Biggest guys leads and if you dont want to follow them you get hit until you change your mind. Do not forget this
How many guns does it take to destroy the Bitcoin code? How many wars has the US lost? Think a civil war against the government would be any prettier? Nobody wins wars. The US has only created more enemies for themselves. Although those that fight always lose, the private central banks usually win them. http://www.youtube.com/watch?v=5hfEBupAeo4 |
|
|
|
People being scared of "others running off with the idea" is the reason so many businesses fail. Don't worry about that, get all the extra advice you can get. At the end of the day it's who implements it the best, chances are the idea has already been thought of numerous times, just implemented terribly or not at all  +1 Yes, I have found that being less interested in making money than in making change, it is far easier to do both. Worse is when you broadcast your fear of it, as that will attract the predators. |
|
|
|
So, even in a perfect world where BTC is the only currency, don't you think there should be a way to let everyone pay their taxes? Then HOW, that's the tricky part! Directly - you pay depending on what you earn - this could be done by your employer OR indirectly -you pay when you consume - like VAT? Dunno...  Why do taxes have to depend on what you earn? Why not just have a simple system where everybody owes the same amount of money every year, wouldn't that be more fair? The how of paying taxes with bitcoins is really easy: the government sends each citizen a bitcoin payment address, they send the bitcoins owed to that address. You are sort of missing the big picture here. Bitcoin is transformative in the realm of public works expenses. Bitcoin would be MUCH better for taxes/community purchasing. A community could very easily use highly granular micropayments for services used, and provide greater transparency for costs and payments for those. It could entirely obsolete the very stupid broad-brush taxation schemes currently used like VAT, Income tax, inheritance tax and the rest by making fee for service more pervasive. These census based headcount taxations are thousands of years old and very obsolete with the diverse tapestry of humanity today. It would also allow for better transparency into the government accounting if we forced non-anonymity on the government money uses and required our governments to use cryptocurrencies. We are at the very early days yet, but the potentials are truly amazing. |
|
|
|
|
Continued testing of Coinbase: Sumbitted a buy for 4 coins (their price $448.63)
PENDING Your BTC will arrive on Tuesday Aug 27, 2013 around 02:23PM PDT. August 21, 2013, at 01:23pm PDT
Will see if they fulfill and which way the price moved (likely down from there).
I wouldn't want to be their accountant/auditor.
OTOH, selling coins received through them has been swift and easy.
|
|
|
|
And you just expect everybody to do what the US government tells them? Now you can buy pizza using btc, you can exchange btc to USD and etc. If bitcoin is denied, the only way to use them is to pay to another person (not company, only person). So bitcoin is going to be like cash now. Do you often use cash? I use only cash (except for online purchase) but I might be abnormal. I withdraw like 500-1000$ from the ATM at a time so my spending habit stay private. Consider: You know the bills are serialized, yes? Maybe you are getting them from a machine with a camera in it that can see/photograph you (and knows you from your card as well) and it may be possible for that machine to read the serial numbers too... Maybe pseudo-private? How many years that information is retained... Bitcoin is also serialized in its own way though. For the purely fungible money you won't find it in paper, but at least there is the pocket change, and the commodities. |
|
|
|
Silver is a smaller market thus moves more in direction of macro fundi driving pm's. Gold is backed by cb's so thats what the big boys use plus more liquidity to fill positions once they eat up some sls from retailers.
Ag is a smaller market than Au due to the current pricing, but this is not always true. There is about 9x as much silver as gold. Gold/silver current price is a historically aberrational 59/1 though recent history (last 10 years or so) this is about average. |
|
|
|
You can mine and process as much gold as you want and stack it up to the stars, but you are not taxed unless you convert it. I believe Bitcoin will be found to exist under similar principle.
The tax issues are much more clear than the registration issues. What constitutes a registration requirement is at issue here. |
|
|
|
Just thought I'd share my own experience: bought some (4) at 98, got them at 108. Maybe I was just lucky; I have no idea. Just my own side of it.
Thank you for this. I would like to think my experience is aberrational and not there is some problem they can correct, but so far I have nothing from them on the matter. My preference would be to have many such services available to me that are trustworthy. People tend to communicate about problems more than when things just work, so I appreciate your chiming in. |
|
|
|
thoughts?
They should decentralize?
Once the deflation is in full force, we will see more outages. when selling starts in earnest, NASDAQ, NYSE, etc. servers wont be able to handle it.
it is like 100,000 people trying to escape out of a baseball or soccer stadium at once when only one gate is open...I wonder, the FED can just buy stocks that are being sold. The engines the exchanges use can handle the volume. I mean the FED is injecting a fair amount of that 85 billion a month into the stock markets. AT ALL COSTS they will not let people think the shit has hit the fan. The revolution will not be on television.  That said, I think the FIAT bubble is going to burst, but when? BTC has a "market cap" of 1+ Billion. The FED prints that amount every day by noon. It won't matter, if they try to create volatility there will probably be less to buy back if the currencies of the world are not doing well. Interesting experiment we got here. And when some, even a small amount of that money goes into BTC, we will be talking valuations that are decoupled from current understanding. That is the best way to NOT put a value on things. The Fed can't directly buy stocks in the way that other Central Banks can and do. Bank of Japan owns and is buying more stocks. http://www.bloomberg.com/news/2013-04-24/central-banks-load-up-on-equities-as-low-rates-kill-bond-yields.htmlThe Federal Reserve has a blank check for currency manipulation, and most currencies have some reserves of stocks, so the Fed is in the game by proxy, but for them to get any stocks directly it takes an act of Congress (like TARP) or it can dabble by funding a Special Purpose Vehicle that buys a broad basket of stocks through indexes or Exchange Traded Funds, but they don't get to pick and chose which company stock to manipulate directly in the way that some other central banks and sovereign funds can. |
|
|
|
Why not just gateway for boingo or ipass or BT Openzone?
If I can get on boingo with BTC, that'd be great! They are everywhere, it seems. Yes, I could set this up without much difficulty. Have existing high level partnership relationships with these global wifi providers, and the authentication management elements. The only concern is whether there is sufficient demand and how much I am willing to lose to find out. After running some numbers, I can do this maybe with even less than 50 subscribers if we charged enough (yuck, I wish there were more of us). Can do a global rollout, and provide Bitcoin payment for most of the major WiFi providers. It would take a couple months, a small team of sub-contractors to share the bounty/revenue, and maybe a type-A, B-school grad to manage it as CEO once it is set up. |
|
|
|
Mining is interesting, as per their vague definitions technically miners are issuers of money (however miners are not exchanges of money, particularly from BTC to USD), but can also be classified services business because technically a miner is just a transaction processor, from which you are granted new currency as a reward for operating one. I doubt FinCEN has any classification that actually fits this accurately.
Seems FinCEN still isn't sure what to make of this, and so much the better.
I would speculate that FinCEN jumped the gun a bit with their earlier recommendations; I wouldn't be surprised if they amended their guidance on miners. They did "jump the gun" and are getting shot in the belly for their exuberance. The FinCEN folks were responding to pressure to "do something", and issued preliminary guidance, it will certainly be amended, and it will be due to the inquiries from impacted individuals. They will respond to reason, they will respond to money, they will respond to fame. They do want to appear that they are "doing something". If we were to act like scoundrels, drug dealers, and the things that the media may imagine that we are, that is how we will be treated by them. If we act like reasonable responsible members of their constituency who are interested in lawfully engaging in commerce which makes the people within the geographies in which it occurs more resilient to central banking failures, we are likely to get a very different response. Much of law relies upon the framing of the questions to be answered. Government has many branches, they don't work together, or for a unified agenda. FinCEN is not the Federal Reserve. They care about money laundering, terror funding and financial crimes. They don't care so much what currency we are using. So yes it is not a bad idea to funnel questions through Bitcoin Federation, and folks like Jon Matonis for Forbes, but FinCEN does welcome questions directly from affected parties, but please do be aware that you are talking to Law Enforcement if you do it, and comport yourself appropriate to that. |
|
|
|
My friend experienced a cancelled transaction on Coinbase, contacted tech support, and within a day or so had his BTC funded (I believe with like 0.1 extra for his troubles), so if you haven't yet contacted them, you absolutely should.
Any details on that interaction would be interesting. Tried contacting, 5 days no response^^ Same here... so far. In the mean time, signing up with BitPay as well. Met with their VP Sales yesterday. Very nice to work with. |
|
|
|
... in the address 1HackerRpwYH7F6uGu8422dScNxaHAtWYz ... which currently has 647 BTC.
Which apparently donated some here? http://www.btcfans.com/donate |
|
|
|
When we get EEPROM ASICs that can switch coins and crypto algos, deep into the micron chip limit, then we will have saved our project from those that would see it fail.
Whosoever can get there first, gets a hero medal from yours truly.
You mean programmable logic, like FPGAs? I think the idea actually grew out of memory chips - you can implement basic logic by having memory addresses as the input, and memory contents as the output. It's a nice technology to have, as long as someone can actually program the requisite logic - we still don't have a Scrypt miner on an FPGA. Also, good luck developing a Scrypt ASIC without first prototyping it on an FPGA. OTOH, if you had the ASIC tech for several different hashes, you could in theory have all of them on one chip, but why would you switch between them, instead of running them all at once? Yes, FPGA are the EEPROMs for this. Add the coin switching to follow the most profitable mining of the moment, optimize, and away we go! Doing this on ASIC doesn't provide the flexibility for dynamic changing so you don't also get the monetary optimization which requires external market input. What you gain in speed and heat efficiency, you may lose in flexibility. Though with FPGAs advanced to a sufficient optimization for better ASIC development, that may not be so important. |
|
|
|
Holding the tool vs distributing it is an interesting choice. Would you care to comment on that?
I would expect, right off the bat, that the tool has to be modified to crack passwords that follow the pattern of the user who forgot theirs. Because unless the password is weak, brute force cracking with no clue as to what the password might resemble or contain isn't really possible. Good point. Providing the tool with these user patterns for modification takes a trusted channel. That would likely count for the distribute choice. Holding choice is supported by the anti-abuse use cases, which is a strong one considering... |
|
|
|
Why not just gateway for boingo or ipass or BT Openzone?
If I can get on boingo with BTC, that'd be great! They are everywhere, it seems. Yes, I could set this up without much difficulty. Have existing high level partnership relationships with these global wifi providers, and the authentication management elements. The only concern is whether there is sufficient demand and how much I am willing to lose to find out. |
|
|
|
Gold is one of the final assets people will flee into. thats why it wont drop as far as others
Silver is 1) a speculative vehicle and 2) and more of an industrial metal than gold and will hence drop like a stone if deflation is in full force
Not me. Full-force deflation implies a lot of other extreme financial grief, and the official monetary systems are already on thin ice which would likely crack early in the game. I was more interested in silver to mitigate against genuine calamities due to operational consideration. Only when I got that check-box ticked off did my interest shift more to gold. A slight elevation in the interest and awareness in silver could have tidal-wave effects in the valuations due to supply side differences in the material. Gold also, but to a lesser extent, and again, it's likely that many Joe Sixpack types would go for silver first for the same types of operational issues that I noted. That's my call. I could be wrong...I often am. You aren't wrong. When they move, silver tends to move more than gold. Silver is bought by many, gold by few, but both are great forms of asset based cash. |
|
|
|
My friend experienced a cancelled transaction on Coinbase, contacted tech support, and within a day or so had his BTC funded (I believe with like 0.1 extra for his troubles), so if you haven't yet contacted them, you absolutely should.
Any details on that interaction would be interesting. |
|
|
|
|
Show Posts
