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Delaware and Oklahoma should lead by example and end all criminal activity using cash.
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"by assuming coded words are drawn from a
source’s typical set and so, for all intents and purposes, uniformly
distributed within it. "
meh.
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That is how banks work today. It depends on trusting them to use good bookkeeping practices and not cheating. It is a good system if people were honest. If the banks would only work that way, then there would be no reason for Bitcoin. The problem is that they don't behave honestly, so we need Bitcoin mining.
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While all this brouhaha sounds ominous, there is little they can really do. There is no legal standing (nor logical reasoning) to consider Bitcoin any more of a threat than any other payment system. There will soon be a tipping point where government is seen as bullying Bitcoiners and some other nation will step in as a voice of reason. Smart money will go there (hello France, Iceland, Japan, India, and others). Until there is more than breast-beating, this is a good time to get cheap bitcoins.
Here's a test: One of the greatest potential threats about Bitcoin is *gasp* kidnapping with a ransom in Bitcoin. It's the perfect crime, right? Yet nobody has done so. Why? Because Bitcoin is not good for that. If Bitcoin was so great for narcotics, then why aren't the cartels using it? Because it's not good for that. Bitcoin is not good for crime. It is not anonymous. It *is* private. There is a difference. Maybe they are more afraid of privacy than anything else. Are you listening NSA?
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Thanks for the links.
I've replied to your post about statistical escrow. What's this "even more insane" something of yours? :-)
I'm experimenting on testnet with multisig transactions. I'm trying to nest them. Hopefully, I'll have a working example to show in Austin this weekend. When I try to explain it on IRC, I get blank stares and guffaws. I'll just muddle through the protocol. It works on paper, but until I can show it on the blockchain, it is just a crazy notion. |
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I'm probably overthinking this one. Another way to think of this would be like a deposit or down-payment, except it is a gamble for the entire sum to go either way. The rate of insurance would be a reflection of the seller's trust of the buyer and a loyalty reward. New seller's don't have much standing and should take higher risks or use other methods such as couter-party escrow. This was a whimsical idea that may or may not have merit when compared to other escrow schemes. Insurance is legalized gambling and this is a gambling device with a similar use.
tl;dr This is just another way of asking for a percentage down-payment from buyers based on your trust of them. Instead of a set rate, it is a set odds of winning your money back.
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I would rename it "Bitcoin User Not Affected."
In fact, I couldn't help but shout that after each stanza.
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James Hamilton needs to go back to school.
Debt is what you "owe", not what you plan to owe. That is like saying my current debt is
really $800,000 because after 23 more years of paying my mortgage payments, that
is what I will have spent. Nevermind that I can sell my house tomorrow and go live on a
park bench, thus wiping out my future liabilities.
Debt is what you owe on money you've already borrowed and spent. Debt (IS NOT) what
you will end up owing years and decades from now if nothing changes. And this professor
isn't taking into account future tax revenue changes. Even right now our deficit has fallen
by 50%, to around $600/billion.
The problem with that is financialization. Everyone is gaming the system in a spiral race to the bottom. You really do need to take future debt into consideration. The Post Office is an example. I'm not saying it is a functional system, but it is what it is until it is no more. |
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Disregarding the source, the US is in debt to whom? Retired federal employees, Social Security and Medicare recipients, Congressional pensions, etc. That was the point of the analogy of a hole. It's just a hole. It doesn't matter how deep it is because there is nothing there. At least that is the working theory. Some folks believe it doesn't matter how much debt there is as long as there is growth to sustain the payments and inflation. |
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I am working on bring back "Buried Keys" in a new form. It should be interesting if it works.
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America is crazy. The Bitcoin witch hunt could get interesting. They may even make a reality tv show that hunts down bitcoin miners.
Hey I would watch that! Hosted by Charles Schumer who gives up his political ambitions to combat the evil scourge of Bitcoin, "Coin Hunters" takes to the streets. Dressed in full tactical gear, they search for high electric bills in search of these high tech addicts suffering delusions of grandeur about "changing the system." Sundays 10p/9p on FOXXXXXXXXXXX. |
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Disregarding the source, the US is in debt to whom? How much dirt is in a hole 70 trillion deep?
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Regulation is necessary or else society will descend into chaos. The important thing to understand is that the bitcoin economy can be regulated but the core protocol and currency itself cannot be controlled. It will be impossible for governments to manipulate the currency as they do with fiat, essentially limiting their power. This is necessary.
Governments always take that extra rope. |
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I want to learn more about this. Some coin might be fun to play around with if they are useful. I don't want to promote something I know nothing about, but I'll check out what you've published about it. I reserved a BTC address 1mcnAR4d5waaD1WaDfH1gU9BuGmCwNNMe. Shared on FB https://www.facebook.com/Lifeground?hc_location=streamThis looks legit so far. I'm still skeptical, but I think I understand what you are doing. |
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America is crazy. The Bitcoin witch hunt could get interesting. They may even make a reality tv show that hunts down bitcoin miners.
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This is the MLM she was talking about www dot tigo dot com
And why should I care? You've seen it, I think MLM people are the only ones worse than Bitcoin Zealots in that regard. If you are related to anyone human, then you've probably been exposed to an MLM. Some of us "Bitcoin Zealots" are here not to make fast fiat money, but instead are hoping to promote progress through this technology. No you just think you'd come up on top in the feudalism you call a libertarian society. Making money out of Bitcoin is fine, your scheming is not. Like it or not, there are MLM people just like narcotics and walmart people. Your comparison is like Scientology vs your local Yoga class. Best idea yet, a Yogatology MLM! |
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This is the MLM she was talking about www dot tigo dot com
And why should I care? You've seen it, I think MLM people are the only ones worse than Bitcoin Zealots in that regard. Like it or not, there are MLM people just like narcotics and walmart people. If you are related to anyone human, then you've probably been exposed to an MLM. Some of us "Bitcoin Zealots" are here not to make fast fiat money, but instead are hoping to promote progress through this technology. |
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This is the MLM she was talking about www dot tigo dot com
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