Regarding mental value of bitcoins, I donīt agree that much. Software is not tangible, the same as bitcoins, but that does not mean that software is just a mental concept. Software is something real that renders a service. BitCoins are real and also render a monetary service, and thatīs enough to qualify as money (no need of regression theorem). There is still need for a regression theorem to explain how bitcoin became (or potentially will become if you don't think it is) money. Without the regression theorem, you have no explanation of the current $30 prices on Mt gox. The regression theorem explains to us that "exchange value" of any commodity or money, need to have a historical reference of past prices. No one would buy a $30 bitcoin if they hadn't seen what others were prepared to pay for them.
I don't think owning it for fun is a weak argument in this case. There seem to be plenty of people here which are interested enough in the crypto and p2p technologies to participate in the project as a hobby to satisfy there technological interest.
Regression Theorem requires a previous economic use. Owning or using something just for fun or hobby (no intention at all to pay for it or to sell it) is not within economics. In austrian theory it is. If it's a part of human action, it's economics. Actually, it would not be in economics, but rather praxeology, the general science of human action, of which economics is simply a subset of action. |
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Is anyone else here living in Alaska? I sometimes think I'm the only Bitcoiner in the state.  Anyone else? Anyone? Bueler? |
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This would be just one of the "cool things about bitcoin: they reproduce!!!!" Oh no, please don't! I would like to see as few decimal shifts as possible. Who needs different prices every month? Well, if it peaks at 1000 USD per Bitcoin, talking about mBTC would be a perfect match. I just hope that people don't confuse that with MBTC. Hey Americans, how is the metrification of your country going? I saw that you already accepted some prefixes, like using $4k to mean $4000. What about some of the other prefixes like M (Mega, 1'000'000) and m (milli, 1/1'000'000)? Do you think that the average American Internet user will be able to cope with those? I wish I could pay my rent with 500 mBTC/monthEh. It's a rough battle. As an engineer in this country you have to deal with both systems. Duckbills. I hate English units. Perhaps bit coin will be the last straw that turns America metric. One can only hope. |
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Can you make one that says "I am NOT Satoshi Nakamoto" ?
LOL. Poor Gavin. Are you Satoshi? Huh? Are you? Huh? Huh? You MUST be Satoshi |
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It's like saying a developer at Blizzard giving a speech about his work with MMORPGs is representing the wow player base oO.
...
Correct me if I'm wrong...
Yep, I'll correct you... It's like saying a lead developer at Blizzard giving a speech about his work with MMORPGs is representing the wow player base oO. Now, do you see the difference?No. Nerds talking to nerds? |
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Y'all doing it wrong. I cut my own hair: free.  . Ok,ok, initial investment of hair cutters/# haircuts. |
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Buy carrots, not bit coins. If that isn't funny, lurk moar.  |
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Hi! Welcome! Developing a BTC supporting enterprise is always a good idea. |
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Economics in One Lesson: http://www.hacer.org/pdf/Hazlitt00.pdfIt's a great read. It's brief. It doesn't go into a lot of technical detail but it does illustrate a central fallacy that many people, even some economists, make when thinking about economics. If you haven't read this book, I'm going to assume you're ignorant about economics until proven otherwise. That is like saying that if you haven't read the Koran you're ignorant about god and spirituality. This is a political document first and a treatise on economics second. Let's not forget that. There are other schools of economics. Everything beyond the basics in economics is a fundamentally political statement. Well, really, this book IS just the basics, but even so I disagree with your statement. I'm reading Mises' Human Action right now, and he delineates between political ideas and economics. True economics, after all, are amoral and apolitical. |
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Yeh, figured you wouldnt understand. You have little/no knowledge of currency history or the workings of economics, that is what is starting to make me discount the underlying theories of BTC completely. No sound future contingencies or appreciation of the past 5000 years of what happens to fiat currency or the technicalities of its workings. If you divide up the pie, yes, there is the same amount of pie. My contention is that the pie can be divided INFINITELY. Why not just move the decimal .0000000000000000000000? or maybe
.000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000.
Then there are so many BTC that they devalue based on supply demand curve. Have you not watched whats happening to the dollar? Read the zimbabwe story, and you will probably start to get it, but my feeling is that you dont want to get it. Keynesians hear no see no speak no evil... Keynesian economics can be controlled by central planners for a certain amount of time. But eventually it still goes belly up. This currency has no central regulation, other than adding more 0's. In summary this currency modus operandi ends in complete collapse.
Meh.
Honestly I'm confused: if you hate fiat and think bit coin is such a currency why are you even here? It's ok to be wrong about something, but to be so arrogant and stubbornly blind is another matter entirely. I for one, am insulted to be typecast as a Keynsianist, especially without basis. I realize that this talk of dividing bit coin by 0s sounds suspicious but you just need to learn more about bit coin. I would encourage you to read Satoshi's paper on bit coins as a start. Creighto already explained the math behind dividing BitCoin, so just think of it as dividing a pie that can only be divided eight times. Or, if you are so learned in monetary economic you should know that inflation is only bad because of the asymmetries involved and that if e new money was to be distributed by a "magical government helicopter" it wouldnt cause problems. Well, bit coin is the magical government helicopter. . |
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If Western Economies coined their own money instead of Borrowing it from offshore loan sharks like the PRIVATE Bank of England and the Not so Federal Reserve, there woulf be no public borrowing, no public Debt, hence absolutely no need to pay taxes at all. Which is why, Bit coin will be seen as a threat, the best case scenario is they legitimise i but then screw us all for taxes on any gains. At the end of the day, are we prepared to fight for our personaly liberty, or will we just allow ourselves and our children to be fleeced forever more. The Money Scam http://harveyalexander.weebly.com/themoneyscam.htmlThat is not at all what taxes are for. In the US, most tax money goes to things like Defense and Social Security, not interest on the debt. If we keep borrowing at the rate that we are, that will change. Actually I did the math for 2008 using government statistics and it worked out to be ~30% of the US income tax revenues went to paying interest on the debt. |
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Oh Atlas.  |
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-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA256 You can trust bitcoin.org to verify that I am the real theymos, and maybe you can trust me when I say that my real name is Michael Marquardt. -----BEGIN PGP SIGNATURE----- iF4EAREIAAYFAk3YczIACgkQxlVWk9q1kecdaAD5AYDNdk1CqQignw0VfcffQtNv k8d4bAf98vfcKvKGP0oA/3iPaObiKtw984EhqbKVM7Rljc40qKvaLvIEs6emkCWA =ld+O -----END PGP SIGNATURE----- Public key: http://pgp.mit.edu:11371/pks/lookup?op=get&search=0xC6555693DAB591E7What is the difference between a PGP signature and a PGP Public key? Is the signature a hash of the public key? Also, why is Theymos' so damn long? Different hash type? |
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-----BEGIN PGP SIGNED MESSAGE----
I am Samuel Vanderwaal, and my key's fingerprint is 70F3 0E0D 3ABC 21BC 7E07 A8BB 7A22 FC9F 1A88 AC11.
Send me an email with 1A88AC11 in the subject and bitcoin in the body and I will reply with an signed email.
-----BEGIN PGP PUBLIC KEY BLOCK-----
Version: GnuPG v1.4.11 (GNU/Linux)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==
=6C/v
-----END PGP PUBLIC KEY BLOCK-----
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Thanks. Sent you an email.
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Ok, I found Jason Keith in the PGP directory and added his key to my key ring. Hmmm. Progress.
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Not quite. I want in, I'm still trying to figure out what the hell I'm doing. I'm reading through the GNUPG Quick Start but even that is like trying to read another language. I just learned about PGP a few days ago and am still trying to figure out the procedures. So far I've created a key in Ubuntu using the "Passwords and Encryption Keys" program which I believe is part of the Seahorse front end package for GNUPG. So now, how do I use this to encrypt emails, sign other people's keys, etc? Also, where are these alleged online key directories? I can't find them. Help me and I will sign all your keys. |
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