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3461  Bitcoin / Bitcoin Discussion / Re: did ASIC ruin bitcoin ? on: August 20, 2013, 03:56:50 PM
Did CPUs ruin bitcoin?

Now take your answer and apply it to ASIC.
+1
3462  Other / Politics & Society / Re: Assault weapon bans on: August 20, 2013, 02:40:41 PM
There is no way I will ever understand why people still defend the right of carrying weapons.
After you end violence, then comes the time to contemplate removing the abilities of self defense.

You cannot remove violence from society because the society itself create it.
add guns = add more violence

btw :
overprotect children = make them more attractive to pedo + raise them too feel like victim

No. That isn't the fault of the kids, or the protection.
3463  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: August 20, 2013, 02:37:05 PM
<images removed>

An economist would say that the bid sum is clearly on a trajectory to infinity, and the ask sum to zero  

so price will head to infinity squared
Either that... or economists' heads are square.
3464  Economy / Speculation / Re: continued QE on: August 20, 2013, 02:21:49 PM
Are you kidding?

The 'collapse' is part of the system. Because it is built on a Martingale betting strategy. As long as you can keep doubling down it doesn't matter how many bad bets you make. Only, there is a limit to how big the bets can get. Once you reach that limit you burn down the casino and invite everyone over to this bigger and better casino you have ready and waiting. The game continues, and only those who can keep doubling down are guaranteed to win as long as that is the system. To work, it requires exponential growth—forever. As long as that is possible, that is the game.

Even in a regime of catabolic decline the game can continue after a manner. Except, instead of the whole pie getting bigger all the time it is the holdings of a few players that get bigger, at pari mutuel expense. There is a class war all right. But it is not the rich against the poor—it is the rich against the slightly less rich.

The bigger better is where...  IMF SDRs?

If bitcoin is ready by the time of the next Casino BBQ, that would be good for people everywhere.
3465  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: August 20, 2013, 02:13:04 PM
With $600 gold how do you get $4 silver?  ratio would be 150 eh?

$4 silver would take a strong dollar bullish shift.
What would that take?  1) balancing the US budget 2) Repaying US national debt  3) Adding real assets to the US reserve

That might get us there.  Sure it could happen, but is it likely?  If you had those 3, you could probably do free healthcare for the planet rather than just USA, but this seems like a fairy tale, yes?

I could see 600 gold and 30 silver though. 
3466  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: August 20, 2013, 02:05:54 PM
It is looking less likely that you will see 600 gold before 1600 gold.
JP Morgan has reversed.
http://www.tfmetalsreport.com/blog/4968/big-fat-zero-public

Unless you think they are loading up so that they can sell it again in another round of manipulation where they lose billions to drop the price.  I suppose anything is possible for the Reserve Banks.

But in the mean time, the rest of the world is also scooping up the yellow stuff.
3467  Other / Politics & Society / Re: Assault weapon bans on: August 20, 2013, 12:13:13 PM
There is no way I will ever understand why people still defend the right of carrying weapons.
Fix this problem first, please.
http://rainn.org/

After you end violence, then comes the time to contemplate removing the abilities of self defense.
3468  Other / Politics & Society / Re: Assault weapon bans on: August 20, 2013, 11:21:27 AM
It does not matter which exact weapons you ban or not, unless you ban all of them at once. And that may turn for better or for worse, who knows.

America has long history of violence, gun violence is in your blood. If you take away guns to prevent school shootings and gang violence, people will find other ways. There will be school bombings and school stabbings.
It's in your history, your way of life, your culture. Only solution is to raise your kids as better people, more happy, and set a good example of yourselves, to break this cycle. We must examine where exactly bullies, thugs, psychopaths and rednecks come from and fix that.

About school violence - when I attended school in my country it was a generally happy place. Teachers were not the greatest, many things were lacking, but it was fun to visit the school. There was no excessive bullying and constant HUMILIATION which is exerted at other schools worldwide. It was a surprise for me to see in news reports, how kids are treated around the globe. Of course we had fights, broken teeth, pranks, destroyed personal property, raging hormones and older students drunk while attending lessons Smiley . But no constant humiliation. No one tried to take away your lunch money and etc. If someone overdid with insults or force, always some other guy or gal would step up in defense of the bullied. Less fortunate (stupider or poorer if you like) people were made fun of, time to time, but not as a scapegoat.

I often see in news reports of a teen suicides in USA how they would change schools and move towns and etc. It would be better if they stayed and stood the ground, and other around wouldn't be so indifferent and helped.

My experience at school was also like this. Smiley  In a big city in the USA.  Thanks for the advice, we all want our kids to be better people, who wouldn't?  
I remember the Pink Floyd song "Another Brick in the Wall".  Maybe that really happens somewhere?  I suspect it is less common than folks imagine.
3469  Bitcoin / Press / Re: 2013.08.18 - Germany recognises Bitcoin as currency on: August 20, 2013, 02:27:23 AM
A major aspect of Germany's stance on bitcoin is that there is no capital gains tax at all (0%) on bitcoin specifically - as long as mined coins they're held for one year prior to selling. This is in sharp contrast to almost anywhere else where capital gains tax would apply to any financial instrument by default, including bitcoin, metals, or anything else bought (or "mined") and resold later for profit.

While not too significant in the current mining environment, germany may become very attractive for early bitcoin adopters with large btc holdings.

A large part of what made the US so attractive for investors in the early days of the internet was the pro-innovation/pro-business business regulatory and tax environment at the time. Much has changed since then.

Holding for 1 year, for a capital gains tax haven in not such a bad deal.  Many miners are holding anyway.  And if you are only selling your year old coins, you can still show income after your first year.
3470  Economy / Speculation / Re: The REAL bubbles on: August 20, 2013, 02:23:42 AM

there are two effects with different impacts:
1) the overall deflation of all assets which can also impact BTC as you suggested above
2) bitcoins infancy with still huge potential. just imagine every citizen of the world would have 0.001 BTC...


These effects are mostly money-flow based and are not entirely pure of other corresponding price impacts.
For example: Bond interest tends to track inflation





Prices that are linked to inflation (hard assets) should rise with the inflation rate.

3471  Economy / Web Wallets / Re: Blockchain.info security [FUNDS STOLEN] on: August 20, 2013, 01:31:45 AM
I'm thinking of augmenting it so that it snatches weak funds immediately
The legal risk is too high.
On the other hand, I thought about writing and releasing such scanner without touching funds myself and letting people to catch and sue each other. I see every bitcoin-related court case as a good thing that make adoption of Bitcoin by business easier.

There's only one address implicated in all the recent thefts so I'm not sure how useful releasing a scanner would be ... other than increasing competition for snatching funds from weak addresses.

Although your first point brings up a larger legal question ... if someone makes their private key public (intentionally or non-intentionally) ... under what conditions (if any) and under what legal theory could a 3rd party be liable for signing with it?  Any lawyers out there?


In the USA?
You have a civil claim of course.  And for criminal, Wire Fraud.  If interstate or international, Federal rules apply:
http://www.law.cornell.edu/uscode/text/18/1343
3472  Other / Politics & Society / Re: Assault weapon bans on: August 20, 2013, 12:59:38 AM
Also, how long till we have an assault weapon that requires a 3D printer and a trip to a local Home Depot?
Here's your Home Depot rocket launcher.
http://www.youtube.com/watch?v=gdw1XlgsQeg

We can leave the payload to your imagination.

Kids were doing this stuff for decades, pvc just made it easier.

http://www.youtube.com/watch?v=L4OHzcXmEjk

ATF picks up some home made assault weapons.
http://www.youtube.com/watch?v=mW95GBqqSQ0
3473  Bitcoin / Legal / Re: Is Bitcoin legally a Currency? on: August 20, 2013, 12:55:19 AM
And German Kapital Gains..
http://www.telegraph.co.uk/finance/globalbusiness/10252383/Germany-plans-tax-on-bitcoin-after-virtual-currency-recognised-as-private-money.html
3474  Bitcoin / Press / Re: 2013-08-16 RT - Bitcoin never to become a global currency, nothing backs it up on: August 19, 2013, 11:42:17 PM
I really don't get this whole fixation on "what backs it up?".
What backs up the bread on your plate?
Imho, "backing" is a very subjective and vague term, that subtracts from talking about the properties things have.
People apparently need to hear "this money is backed by X", and then they can consider it to be safe.  Yah sorry, it's not that simple.

"Backing" is not at all subjective.  It conveys a specific meaning, that a currency is redeemable for a specific quantity of a particular asset.

The US Federal Reserve Note is backed by US Federal Reserve Notes, or "Full Faith and Credit" if you prefer. (so not backed).
The only backed currencies today are non-governmental, so that is not really the point she likely intended to make anyway.

Bitcoin has a much better chance of becoming backed, than any government currency.  The closest thing to "backing" that central banks have today is an interlocking network of soverign debt.  Each of them owe the all the others in various amounts.  The BASEL II accord still holds the metrics for that, BASEL III is not yet implemented.
3475  Economy / Speculation / Re: continued QE on: August 19, 2013, 11:32:01 PM
Arguably keeping QE the same IS tapering it.  After all, it is not increasing along with inflation so as a percentage of the economy it is tapering!  Wink
(if congress ran the fed.)
3476  Economy / Economics / Re: How can i buy a couple thousand worth of bitcoins? on: August 19, 2013, 11:05:39 PM
Well i just wanted to say my first transaction with BB was a breeze. I will be using them again in the future.

The customer service Daniel provides is top notch.

And JFYI, Dwolla does do Dwolla -> CampBX. But the first transfer is held 31 days!!!

Meaning if you haven't used it before you must wait 31 days before campBX gets the funds, I did as they suggested, transferred a small amount today ($20) and use another service in the meantime. Eventually the funds will go through and then from then on ur transfers are instant.

Thank you all for the great advice yet again.

Thank you BT

I've never gone wrong recommending them, they've been reliably easy and effective.
3477  Other / Politics & Society / Re: Assault weapon bans on: August 19, 2013, 11:00:56 PM
Ok, I think you just made my point. If your army wants a grenade launcher, you pick from among the RPG or the other 4 you listed. But what about handguns? There are many more choices to pick between, so while more soldiers (ignoring civilians right now, which are skewed even farther) are carrying a handgun than a grenade launcher, because there are more choices for handguns they do not show up on the list. The long tail of gun models holds many more handguns than grenade launchers.

Yes though there are quite a few more than just these 4 others, your point is valid nonetheless.  There are many times more handguns than grenade delivery devices.  If you lump the weapons categorically you will get different a result.  Statistics often show a different result when viewed differently.
3478  Other / Politics & Society / Re: Assault weapon bans on: August 19, 2013, 09:45:48 PM
They have the RPG on there as number 4, but that is not because it is the most common grenade launching device, it is because it is basically the only grenade launching device. So while there may be many RPGs lying around, there are many, many more handguns and rifles and shotguns, but since there are so many different models of those the RPG gets bumped up the list.

The RPG is the most common grenade launching device.  It is not the only one:

3479  Economy / Economics / Re: How can i buy a couple thousand worth of bitcoins? on: August 19, 2013, 08:02:03 PM
So Bitcoin Brokers was suggested. I have done about all the research i can but i am a little hesitant on sending $400 directly to someones personal bank account...


Can anyone vouch for BB before i take the dive?

THIS IS WHY bitcoins will never grow. ITS TO HARD for the avg person to even buy them safely. This is the single dumbest choke point in the whole BTC system and nothing ever changes.


Feedback on BB anyone?



I was about to ($10k), but the price offered for banks I can work with was high enough to give me pause (mtgox prices).  So far, this is my preferred way.  Mostly because they're escrows.  Can anyone speak to the user's reputation on this forum?

As one of their first users, I'm still with them.
Have been both a buyer and a seller.
Its like localbitcoin but with concierge customer service.  
3480  Economy / Speculation / Re: If Mt.Gox opens litecoin trading, could that suddenly eliminate the $15+ spread? on: August 19, 2013, 06:50:24 PM
It would indeed open a second market to people who want to get rid of their goxed USD.
So the gox price of BTC would go down a little, until the LTC price has risen to +10 (maybe 20) % above the BTCe LTC price...
Well stated.
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