GreenJew (no offense)
If you mean no offense, then stop using "jew" like a dirty word. Also, if you're referring to Greenspan, he hasn't been Fed Chairman since 2006. |
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And yet the price is clinging to the top of the range.... I smell a short squeeze in the works. |
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I hate to break up this catfight  but I'd love it if you guys would take a quick break to teach me something. Cypherdoc is predicting deflation and he seems to believe that ppl defaulting on mortgages will cause it. I understand how retiring debt is deflationary but I don't understand for defaulting. I thought defaulting would cause inflation... because you can't take the USD back. Its spent. So its still out there but is no longer "backed" by the future earning power of the person who originally took the loan. Thanks in advance for helping a macro-econ noobie!!! In the average case, the money goes to pay off the mortgage of the seller. Poof, there goes the cash. The only things that change the money supply are the lost interest and fees(deflationary) and the change in price (likely deflationary due to lower prices currently). If the seller didn't have a debt to pay off, it would be inflationary, but that inflation would occur at the time of the initial sale. |
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Alright guys is it up or down from here in the short term?
Sideways, maybe an attempt at a dip followed by an "oh shit" rally. |
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It was only a few weeks ago that a plea for developers to help was put on this very forum. Not entirely dead. The good news is that all of the technologies that the silk road uses are publicly known. There are no unsolved problems. All that is needed is the man hours to implement and audit. For an open source project. begging for developers is equivalent to dead. |
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Thanks, I'll check it out. For some reason I just thought there were some scripts to add.
It's simple to use bitcoin from any programming language. However, security can be hard to get right and funds must be segregated from the web server, preferably with the addresses being generated offline and kept offline (only signed and unsigned transactions cross the airgap). Or pay the pros for simple scripts and direct to bank usd for whatever percentage of btc revenue you want). |
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BTC will be used via NFC.
Walk by the cash register, swipe your phone, BTC is paid. Easy.
Yes, easy.... to say.... it hasn't happened yet. Funny, but thinking about it, it can't be that hard to bang out an app to do an NFC Bitcoin transcation between mobile devices. I mean I'm too lazy to do it, but I don't think there's any real object in the way other than a bit of skill and time. QR codes are as easy and more secure. But, NFC would be easy to hack together too if one had the motivation. |
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YES! ASCI = BTC bad medicine!
We all know ASCII is bad... Unicode is the way to go for a modern application. |
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Is there a support thread here for BitFloor?
I tried to sign up and I get this page that says:
Error 404 - Profits Not Found
Not very encouraging.
support@bitfloor.com |
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as the reward goes down and difficulty up, miners turning into fewer, what's stopping there to be a transaction fee war were people's transactions aren't accepted into the block without paying high fees?
People who will mine for cheaper. |
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For years now we've essentially been leeching off countries like Germany and China that are production based economies whereas the countries that most of us live in don't make anything and don't have anything of value so the whole system is collapsing in on itself.
i thought the united states had a huge manufacturing base, second only to china? The manufacturing is largely defense related (government expenditure). China manufactures consumer goods. |
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is a 1/2 % reduction in GDP really that big of a deal? why is everyone making so much of a fuss about it?
is a "recession" really that bad if that's all that happens, or is the concern that it will lead to some kind of a chain reaction?
The Fed is buying up treasuries... in other words lending money to the Federal Government. Treasury prices move inversely to interest rates. The government can't afford for interest rates to rise, without the Fed writing down their debt, which other (foreign) investors might see as a default, and will certainly add inflationary pressure. In order to keep rates down, they must buy more and more treasuries. Operation twist has been the Fed buying long term treasuries (to keep the long term interest rate low) using proceeds from selling short term treasuries (on the open market). This would normally drive the short term rates up, but there is plenty of demand from outside investors who want to exchange their long term US debt for bonds that mature sooner. Unless the winds change, Operation Twist will come to an end in January 2013. Now think of the market minus this distortion. The Fed's buying pressure ceases ending the support of the long term prices (they stop holding long term rates down). The selling pressure ceases ending the resistance to the short term prices (they stop the upward pressure to short term rates). Sure, many bond investors will recognize this, but it takes a while to turn a market of that size. The market (in the short term) will drive down the short term rates, spurring cheap, short-term lending/refinancing (the kind of debt that people pay off), but decreasing investor appetite. The market will simultaneously drive up the long term rates, increasing investor appetite but at the cost of interest rate increases on mortgages and other long term loans. However, QE-infinity involves purchasing mortgages, so the hope is that they can at least keep rates low there. The spiking long term rate will add leverage to force the politicians to fix the cluster-fuck they have created, at the expense of the long term debt markets. This will hurt corporations who rely on financing for construction projects, but many corporations are flush with cash now. Cash will be king soon, but its reign won't last. |
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I haven't seen the source code of bitcoincharts.com/btccharts.com/etc, and that does not stop me from using it. There are things and things.
Don't be so drastic.
If it will not fulfill all the requirements of OpenSource, simply edit the OP.
I think that is an interesting service.
I'll even delete my post if you do one of two things: Publish code with an open source license, or remove the term open source from your advertising materials. Perhaps you mean there will be a scriptable plugin system and forums for the community to share plugins, or something along those lines. If you aren't going to meet the definition, please be specific about what exactly will be open and what resources you will provide to community developers. |
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Saying that stable is good is bullshit. BTC price depend on how many ppl use it. More ppl use bitcoin, more ppl buy them, price increase If price is stable then bitcoin use isn't growing. Wich is not good as far as i know. This said, btc price depend on speculation also, so maybe i am totally wrong  Stable means user demand growth is equal to the supply growth. A slow, steady increase in price implies at least linear growth up to possibly a very slow exponential growth in users since price growth also increases desire to sell among investors. Of course, this breaks down if we get in another hype cycle because that desire to sell will dry up while the userbase will the userbase expands as a fast exponential. |
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I thought they phased out the penny in 1982, and everything else except the nickel in 1965. The nickel is the only real coin remaining! I thought it was 1984 for pennies. |
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Or maybe no. They don't need our bitcoin, then why should we give them to them?
Because it will help show them the potential of our currency and our community. |
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if you accept that bitcoin is "pure money" then you have to accept that euro is also "pure money"
No I don't. You don't make the rules. there are no rules if you consider something that was designed to be used as money you need to consider every single thing that was designed with same intention money Bitcoin was designe to be fair money. The euro was designed to concentrate power. |
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obviously that software would have to be open source  edit: it's more like a simple automation script because one could do this kind of transferring manually if he wanted to. Making 100 transactions manually would just be a way too much. Transaction fees could be problem but at trading sites you're going to pay to the site. There still has to be trust in the operator. Open source isn't read only. |
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I don't call it dogma, I call it boycott and yes I will boycott as much as I can those who don't accept my bitcoins.
If you honestly don't use/read/consult wikipedia ever as part of your boycott, then you are totally in the clear and my argument doesn't really apply to you. And it ain't trollin' if dem facts be true. Fact 1: You claim to want to donate to wikipedia with BTC. Fact 2: You have a way to do so. I often read wikipedia and so far it seems they don't want our donations, it seems they have enough money If they have enough money why is 1/3 of my screen taken up by their banner ad begging for money? |
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if you accept that bitcoin is "pure money" then you have to accept that euro is also "pure money"
No I don't. You don't make the rules. |
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