This could be a mess. Not clear how the credit will work. 10% GST surcharge will definitely affect local businesses.
No it wont ... all it will do is drive legitimate business underground because the compliance burden is nonsensically large.
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I see dead bitcoins?
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This guy just lost 3 million Euros at a bank (BES) bankruptcy at Portugal, sorry this is video and in portuguese but can't find any english version: http://www.tvi.iol.pt/videos/14179041Oh yeah, it's starting to rumble and roll now ... if you still have sizable cash on deposit in banks you better get reading that fine print closely or prepare to get shafted, then robbed.
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... like cash enables thieves "even more" ... money needs to be functional as an economic unit ... rather than fulfill every utopian fantasy bestowed upon it
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proof of self-importance seems to be gaining evidence in this thread ...
and how is mentioning proof of importance being self important? if you think i was trying to make some kind of joke your mistaken... if you havnt heard of it, perhaps you should get out more instead of making stupid insults??? ... and if the cap fits wear it?
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proof of self-importance seems to be gaining evidence in this thread ...
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So let me try and figure this out this is a little out of my league but here it goes:
Effectively you are creating a mixing service within the Bitcoin network itself? Making privacy better because no one can track where you sent your Bitcoin because it is split up and combined with other peoples transactions. Surely this has already been done by several mixing services?
Wouldn't this create more legal problems for Bitcoin? If this is what you want to achieve surely it's illegal because this can be abused very easily.
It also has technical benefits for the network in terms of reduced overheads. btw, bitcoin is legal, it has no "legal problems". You are probably confused by the enormous legal complexities of handling government fiat.
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the "truth" in a POW system is determined by the objective laws of thermodynamics which are fundamental laws that exist outside the POW system. it cannot be gamed by the stakeholders.
the "truth" in a POS system is not determined by any such laws outside its own system. it is self referencing, aka an echo chamber, of whatever the stakeholders "want" to be the truth, whether objective or not. it can be gamed by the stakeholders, if they all agree. I'd add the clarification that PoW only promises that defeating the consensus process is uneconomical, not impossible. The paper shows that PoS can't even make that promise. http://letstalkbitcoin.com/blog/post/binoSHA-based PoW has shown to be "centralisable" though ...
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To rollback the chain they are first going to have to own alot of coins and be big investors in their total numbers and consensus. Large amounts of capital invested in a product is just a traditional source of power in a normal capitalist system. Right now in fiat we have democracy and corruption of capital by politics but a plain old currency system should revolve around respect for those with most to lose from its demise. Is POS flawed by allowing that Im not sure, the people who use and hold nxt decided it would be a negative, last I read How long until Belgium owns the US? The they can start auctioning off cities. New York people. Any takers? As soon as the bonds give any rights they can do that. All they got is a promise. They can shut down the government deficit maybe, force raise interest rates and cause alot of fuss but who wants to spend billions making enemies with no profit. I'd buy some gold with those bonds asap, likely its a proxy for elements of the EU A USTbond <=> BTC exchange could open the floodgates ... i.e. repo market settled in bitcoin.
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Cheap international transfers, routing around capital controls and avoiding dragnet monitoring of cross-border financial transactions, i.e anything cross-border is the killer app for bitcoin right now. imho.
Front-end tools for cross-border end-user btc wealth management are less than stellar, i.e. non-existent.
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Let's put it like this :
Cell phones {BTC} vs Analog Land lines {Fiat}
You went wrong right at the start. It is Skype versus Telecom that is the correct analogy. Your analysis after that is predictably flawed. Skype and VOIP needed Zero regulations to succeed. Bitcoin is the same. Don't ask permission, innovate
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here's your golden opportunity to buy Bitcoin.
It doesn't look like it to me, the market is now locked into a new long term downtrend ... by fair means or foul the banksters want cheap coinz ... and people seem to be willing to sell them ever lower. It appears to me to be some kind of algorithm that is designed to walk the market steadily lower, after each dump, new blocking sell walls spring up of a consistent size and interval above market to cap any bounce back rallies developing.
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satoshi was "Another" in another life.
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probably a more interesting/accurate model analysis is using total bitcoin value instead of price (i.e. bitcoin price times total coin in existence)?
Since price is usually only a lagging indicator for monetary inflation, it probably will not pick up the total technological good value of the network with any temporal accuracy.
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of all the alts, Dogecoin is one of the dumbest. money is not a game. it will make ppl not only happy, but very sad. looks to me like all the fun has worn off. now it's time for the pain and sorrow. who could a known?? Dogecoin was a dog investment ...
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mmm, "consumer financial protection" has no issue with a $900 trillion plus derivatives bubble that threatens the global monetary system with total annihilation even in case of only a small 'accident' ... 'physician heal thyself' 'though doth protest too loudly' .... quotes that both spring to mind
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..... then i guess that makes the Federal Reserve Debt Note dollars the "King's Pound Sterling" of the modern era? http://en.wikipedia.org/wiki/Early_American_currencyThe British Parliament passed Currency Acts in 1751, 1764, and 1773 that regulated colonial paper money.
During the American Revolution, the colonies became independent states; freed from British monetary regulations, they issued paper money to pay for military expenses. The Continental Congress also issued paper money during the Revolution, known as Continental currency, to fund the war effort. ... regulating money has historically proven to be a prelude to war, revolution, civilian unrest or other violent upheavals. Anyone who advocates for regulation of virtual currencies should know they are washing their hands with the blood of the violence they are inviting into society when they pound the table for regulation of free market money
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In addition, older workers have difficulty learning new skills. It is very hard for me to get myself to learn an new programming language. It is not because you are old, it is because you stopped learning. (and certainly not because old people have less brain cells as the fallacy justify) I noticed that independent developers never need training, except if they want a little boost. It does not depend on their age but need of their previous work. An independent developer needs to train himself to get new contracts. An employee, most of the time, just do the same thing over and over. (Software Vendor's employees does more various thing than software and computing services companies) There is exception for sure, of independent that does always the same thing, and employee that changes, but this is rare. From the worker perspective, we expect them to retrain themselves while they are struggling to support a family. A worker can't retrain himself if he lost the ability to learn, this is why I am a trainer after all. The reason they are so bad at it is not age, but past's need. When they tell me "I don't have time to train", this is bullshit. What I am hearing is : "I don't want to work unpaid overtime to learn something that benefit my employer, when I can see my friends and family instead". And they are right, this is all question of incentives. But this is also why, independent consultants' rates are between 5 and 10 times higher. I really have to work 1 week per month. So, I think, more and more will want to become independent. You can't be independent without learning by yourself, but incentives to learn are not the same, because you profit of your own skill. This is why, I am very confident that people will start learning by themselves, when there is economic incentive to stay up to date, you stay up to date. Learning is not limited by our brain but by our economic incentives to learn. The transition will take time... and any unconditional income or minimal wage would stop it, making the shortage even bigger. Listen to this guy ... he totally knows what he is talking about ... people stop learning because they have chosen to at some point in their past. Old guys, with experience in many languages and fields, yet are still able to self-train are like gold and worth 5-10 times more than their younger counter-parts.
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