Bitcoin may appeal a lot to anarchists and libertarians but it does nothing, nor will it ever, for reducing socially dominant human beings. Its a jungle.
Bitcoin allows you to gamble and access these sites if they are illegal in your country. For example US players can't play much poker online but can do so with bitcoin. Thats the biggest reason people use it as you are not restricted to laws based in your country that may not allow you to access these sites or games . You make a good point. Even in spite of laws people can choose to gamble with bitcoin regardless. But don't offshore US sportsbooks operate for US customers in the likes of CostaRica? Isn't that similar? I would love to set up my own little online gambling site. If it was cheap and easy to set up a dice site and set the maximum bet to 0.0001 bitcoin I think I would love to see how that operates. Obviously it might not be too popular due to the low bet but it would be nice if me, Joe bloggs, could do such a thing, increasing the bet limits as confidence grew. However, the likes of me isn't going to do that because my UK government would disapprove and possibly ruin my life if I did. I wish they loved me more. |
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What gets my goat about this the most is that they requst a fee for a license using threats of imprisonment if an operator does not comply and in turn offer no protection to the punters whatsoever. The protection to the operator is that the police will leave them in peace to operate.
Bitcoin may appeal a lot to anarchists and libertarians but it does nothing, nor will it ever, for reducing socially dominant human beings. Its a jungle.
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I guess it is more like a cult where some of the people that want to get rid of banks are in charge, then you have the sheep that just wow at everything that's being said by the leaders.
It has its fair share of protestors too what with the "gavincoin". Old testament/new testament? |
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Similarities are - it's imaginary
- it has it's commandments (rules)
any more? |
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Why is Bitcoin tied to Fiat? Why is Bitcoin value moving like a stock? satoshi said the value will be derived by the limit of total coins. But we are seeing the opposite. Why dont we mathematically calculate the value of bitcoin according to the amount of bitcoin mined?
Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
Everyone is a slave of fiat as long as that person has to pay for things in fiat and has to get paid in fiat. This means you can actually live outside the system, if you get paid in Bitcoin, and pay everything in Bitcoin. Using your own example, wouldn't you then just become a slave of bitcoin? |
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I would compare Bictoin - Fiat relations to the most of the local currencies - USD. When you show 1$ wherever in the world, people will know its worth and would like accept it, unlike eg. RUB, NZD or PLN.
Dollars would not be accepted in the UK. Merchants and buyers are yet not prepared to use BTC. Also, they are not sure about how much is it actually worth and how it would be tomorrow. IMO these are the things possible to change over time in case of BTC.
I paid for some graphic design work in bitcoin. 50% up front and the other 50% after. We pegged the price to Fiat but it worked out very nicely. Paying a graphic designer in Romania probably wouldn't have happened without bitcoin. I know the market place isn't thriving but it can be done with ease and success today. |
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We need more adopter to bring bitcoin to more mainstream.
Its not about more adopter to be honest, in the end most of use who use and accept BTC will still cash it out into FIAT, therefore BTC will still be a slave of FIAT. Another thing would be that, you can buy mostly everything with FIAT but you cant buy mostly everything with BTC (which ofcourse another reason on why BTC is a slave of FIAT) Logically that's right. Maybe bitcoin is decentralization? And digital currency? And the other reason is that there are many alternatives available for bitcoin as a currency or a payment system like fiat, credit card etc. And fiat has ruled the world since so many years so people follow fiat more. You need fiat to buy bitcoin and you don't need bitcoin to buy a fiat. It is as simple as that. And I don't see in coming years that bitcoin will replace fiat. It is simply to impossible. Fiat is a traditional currency and every one follows the same since years and it is more trustworthy as compared to bitcoins. Whereas Bitcoins are new to many people and would not attract instantly until they start to know it technically. Slavery used to be traditional too. It is not impossible. It might be improbable, but impossible no. |
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Hi. That link shows an error. How are you finding arbing in bitcoin? And how are you finding cashing out. Is the liquidity satisfactory? |
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Hello.
What is Gemini? What will it provide of new?
I think nothing. Its just gonna be another exchange but there is hype around it because its founders, WinkleDee and WinkleDumb are somebodys (apparently). Good grief, the amount of new accounts this numb nut makes is simply astonishing. I've been talking bitcoin to this one older dude (that day trades oil and gold futures w/ some other guy from NYC) that I work w/ for over a year and he's been long awaiting for the Winks to get Gemini up and running. There are legions of traders that are waiting for this kind of regulated exchange to get up so they can trade in bitcoin in relative safety. Plus, there's an aura/buzz around what these Winks are up to. I assume you were talking about brama making numerous accounts and not me? Perhaps you are right about Gemini being the #1 exchange. I dunno. It's not like there's a shortage of exchanges out there at the moment though. Also, perhaps these twin brother chaps are a big deal but to me they are just the dicks out of the movie, "the social network". So granted, my knowledge of who they are and what they have achieved is not coming from the best source, but I know that the characters in the movie will be dramatised, so I'm not deliriously saying it's fact. But seriously.... what great success have they brought to the world before? |
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Hello.
What is Gemini? What will it provide of new?
I think nothing. Its just gonna be another exchange but there is hype around it because its founders, WinkleDee and WinkleDumb are somebodys (apparently). |
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It was just a few months ago when the price hit $301 then crashed back down. I'm not going crazy yet.
Since $1200 BTC has never reached a previous spike after dropping from it.. Things are getting interesting now. nice point. Its time for users to see some confidence in price. Come on 300! |
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Funny, I am in the same boat. I bought a large amount of bitcoin at $650-$700 and I've been suffering ever since ..
We ride together or we die together.... bitcoin broz 4 lyfe! There's been a minor pump? From 235-248 over night. I propose that we'll hit around $270 now. I don't know about that. I don't think we'll see such a gradual incline. I think it will be an explosive jump in price followed by another gradual decline. That just seems to be the basic trend. I think what we're seeing right now are modest panic buying of a few new entrants to the bitcoin market. There is a storm brewing and it will get political and corporate attention and I think it could be led by the same people behind movements like occupy Wall Street. I agree that there will be an explosive jump at some point. I don't know why there is all this talk of a storm brewing but I sense it too. It must be a lot of wishful thinking causing a lot of hot air. |
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Well I believe this is the real deal and tomorrow I am gonna go to my local bitcoin atm and print me a fresh new paper wallet fully loaded with coinage!!
Softly softly catch a monkey |
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Money has a very distinctive smell. A really good smell. "The smell of money" - even sounds cool.
Bitcoin doesn't smell like anything. Totally sterile. That sucks. This is what I see as the major flaw of Bitcoin.
The number of people that have taken your statement seriously in this thread is surprising. You sir, are a funny bastard! |
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I know what fractional reserve banking is. I mean how do you think it relates to bitcoin?
A simple example would be Coinbase loaning out the bitcoins they hold. I am determined to understand this. So.... Lets say coinbase hold 10,000 bitcoins. Going with fractional reserve they lend out 1,000,000 bitcoin. How are they going to send them? An amendment to the protocol? They hold 10,000 BTC and the loan 9,000 BTC. Everbody with coins at coinbase still believe they have 10,000, and some other people have 9,000. There are now effectively 19,000 BTC. If those 9,000 BTC are deposited and 90% are loaned, then there now effectively 27,100 BTC, ... Eventually if the reserve ratio is 10%, there will be effectively 100,000 BTC, even though there are actually only 10,000, and 90,000 BTC worth of promises. I get it now. Fractional reserve within their own database. Not on the blockchain. Well... when we transact with others and use their systems we expose ourselves. Yes, I agree this could totally happen. This is a human problem though, not a bitcoin one. |
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I know what fractional reserve banking is. I mean how do you think it relates to bitcoin?
A simple example would be Coinbase loaning out the bitcoins they hold. I am determined to understand this. So.... Lets say coinbase hold 10,000 bitcoins. Going with fractional reserve they lend out 1,000,000 bitcoin. How are they going to send them? An amendment to the protocol? |
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A lot of bank notes have traces of cocaine, what do you say to that?  Quick ban this dirty fiat, people use it rolled up to snort cocaine, people buy drugs with dirty fiat (I'm being saracastic but this is similar idiocy to the type that people use to disgrace & be negative about bitcoin). this is actually a major flaw for cocaine users. These people require a currency that also works as paraphernalia for their drug use. Someone needs to modify the Trezor. |
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What is with all the hype for gemini? What is it going to bring that the other exchanges dont? Monsterous liquidity?
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So, the coins are returned back to BitDice, the OP has stolen the coins and btc-e is not scam (but they freeze the money without law enforcement), nice to read  This is the wild west. |
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