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Reifying or deifying our foibles and externally attributing them is as old as the gods themselves. Philosophy is a son-of-a-bitch, but it's our best effort to make useful order of our perceptions.
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We've discussed this before, but there never has been a consensus as to how to handle future denominations of Bitcoin for purchases. Someday Bitcoin will be distributed amongst a wide user base and purchases will be approaching the nano BTC level. The problem is innumeracy. Most Americans don't understand the concept of metric prefixes. They are conditioned to corporatized names and logos from infancy. Shall we begin to popularize a naming convention for purchases using something analogous to trading commodities i.e. Gold Bitcoin, Silver Bitcoin, etc. for every fractional order of magnitude? Or will we end up using milliardth, billionth, or nano to mean Bitcoin to -9 orders of magnitude?
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Bitcoin is the new Berkshire-Hathaway common stock
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I would think this would be useful in poor, densely populated cities.
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Gavin has stated (or perhaps, implied) that the CIA had expressed interest in the potential use of Bitcoin as a clandestine payment system. Bitcoin could also serve as a rich source of intelligence through money-mapping techniques, &etc. As such, I would expect that there could be (not a few) Bitcoin related service businesses that act as fronts for intelligence community data collection and operations support.
I somehow missed this. It sheds a new light on how western governments may perceive the value of financial liberty. Perhaps the arranged marriage to the central banks is not so important to defending freedom in the intelligence community. |
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Looking at the chart this way makes more sense to me.  |
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It seems these puzzles are too difficult to solve. This site will be redesigned in the near future. If the remaining puzzles are not solved by April 1, 2013, then the puzzles will be ended and the answers posted. The new design will be much different. I am still looking for a programmer to work with me. PM me if interested.
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Well, they now at least they put a notice about delays. It seems that it is not a security issue, so now my faith is restored in coinbase. I can deal with delays as long as the wallets are under control.
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I see no reason to lower price and thus refund current supporters. We could always make a new title at one btc or whatever.
It wouldn't hurt me in any way to make donator status available for less bitcoins. I want to see this forum improve. If you want bragging rights, maybe your donation numerical order number could be added. |
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Though our bodies fail, our spirits thrive. Humanity needs minds like yours. May you always continue to dream. I'll be expecting to hear great ideas from Hal Finney for years to come.
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I am curious about their security system that would allow transactions to get stuck. I'm sure they wouldn't use a hot wallet.
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You can bet that someone is making a bitcoin gambling site for that. It will probably also offer lizard and Spock too.
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Keynesianism is a dying religion, with Krugman as the high priest. Spending driven by currency inflation is not helpful to humans, it results in a bunch of economic "activity" that can only be described as wasteful. Buying unneeded consumer goods from someone so they can turn around and buy unneeded consumer goods from someone else just results in overworked people with decreased real wealth.
Saving is a good thing and is what creates real wealth, ie increases personal productivity per unit of time. A deflationary currency like Bitcoin will help create a society with less economic "activity" in terms of frivolous spending and more real wealth in terms of productive capacity and freedom to spend your time in ways you enjoy.
Austrian economics >>> Keynesian economics
I was going to write just about this exact post when I got a phone call. Why would anyone acquire a currency that is worth less when you want to spend it? |
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Nobody even knows how to buy Bitcoin yet. It's not like you can buy it from a broker. You can't even buy it with a credit card from Bitcoin.com. Bitcoin will stay very cheap until then.
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Yes, but it happened a long time ago, in a galaxy far far away. Isn't it time to just move on?
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I have a friend in the Philippines where guns were recently banned. There is now a rash of hit and run armed robberies there. Recently, her neighbor (a relative) was gunned down for the cash he was carrying in a money belt. It happened in broad daylight by a masked motorbike rider. I am not against guns, but we need reason to guide our lawmakers.
So, what you're saying is, they took the guns away, and crime rates went up? Who could have possibly predicted this?You would think that would be obvious to legislators. Unless you have a kingdom with cameras everywhere, the killers have little to fear. Even a kingdom of cameras can't stop masked men... hehe they'd have to have a build that is unmistake able or the like. Yeah they use body mechanic analysis. The cameras can tag heat signatures of their vehicles and can track the perps just about anywhere. Besides, most crooks are dim and get caught. Gunmen tend to live a life of violence and it's rarely for very long. Imagine how short that career would be if more victims were armed. Certainly someone carrying large amounts of cash would take precautions, including a firearm. In your home, a weapon should be recommended. However, most of the time guns are used in random situations where you would not be prepared for the element of surprise. |
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Litecoin requires too much energy per MH/s. Fewer miners will support the network. That makes it less secure.
really? how much more? My gpus are maxed out no matter I mine btc or ltc anyway, makes no difference to me. Have you heard about ASICs? They take about 1-2% of the power per MH/s of a GPU for mining Bitcoin. |
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Governments are unable and unwilling to do anything in a decentralized nature. The current system is a fiat-based cryptocurrency issued by the central banks. You can see the addresses on your checkbooks and credit cards. Their best efforts have all but failed. maybe there is financial viability in banks using a cryptocurrency based system instead of current infrastructure to look after the transactions.. to enable them to mimic bitcoin in features such as international transactions. . but the transparency.. . and the philosophy . . and the very nature of the design . . . is kind of lost.. don't you think? like .. I'm sure they can come up with a better - more manipulated/able - alternative? which is what they would prefer of course. Being private profit-driven corporations. Anyway, the old money in banking will probably never understand what Bitcoin stands for. What world it shines a light on.
Well said. This is why I pose the question.
The new Govcoin currency would replace fiat, but not gold or Bitcoin.
It would not embody the fundamentals of sound money.
But, by the power of the State, it may succeed.
So if this were to occur, where would it first happen, and would it succeed?
Canada is trying to do this. |
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I have a friend in the Philippines where guns were recently banned. There is now a rash of hit and run armed robberies there. Recently, her neighbor (a relative) was gunned down for the cash he was carrying in a money belt. It happened in broad daylight by a masked motorbike rider. I am not against guns, but we need reason to guide our lawmakers.
So, what you're saying is, they took the guns away, and crime rates went up? Who could have possibly predicted this?You would think that would be obvious to legislators. Unless you have a kingdom with cameras everywhere, the killers have little to fear. Even a kingdom of cameras can't stop masked men... hehe they'd have to have a build that is unmistake able or the like. Yeah they use body mechanic analysis. The cameras can tag heat signatures of their vehicles and can track the perps just about anywhere. Besides, most crooks are dim and get caught. Gunmen tend to live a life of violence and it's rarely for very long. |
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If someone claims Bitcoin is a Ponzi scheme and you want to address that claim head on and honestly, what you have to argue is that there's a reasonable expectation that Bitcoins will appreciate in value over the long term due to demand for Bitcoins as a means of exchange. If you don't believe that, then Bitcoins as an investment basically *is* a Ponzi scheme.
Bitcoin is more like investing in a patent. The invention of the bitcoin is specifically intended to drive the economy of the internet. There are many other alternate ideas that are for sale, but Bitcoin is the original. It is better than a patent, because it cannot be counterfeited. It is not like buying stock in the company that owns a patent, but rather partial ownership in the entire production chain. Expecting a profit on the investment is not based on hearsay, it is opened sourced and based on the research of some of the greatest minds in math and cryptography. I can understand if you are trying to sell someone on the idea of investing in bitcoin on your say-so, but you don't need to. All the code, whitepapers, and wikis are available for anyone to research. Perhaps some people interpret terms like Ponzi scheme to mean a risky investment, but I perceive that it's more like investing in a fundamental technology itself. This idea is too difficult for most people to wrap their mind around so they reach for the easiest analogy. Bitcoin requires not only people willing to monetize the tokens, but also requires a form of cooperation that forms every social relationship. Without getting into the woo zone, Bitcoin is more like the discovery of atomic energy and Bitcoin is the Manhattan Project. Sure, you could build your own, but not before Bitcoin is adopted by the majority of socially adjusted people that understand the purpose and usefulness of this tool to benefit the majority. Normally, paradigm-shifting ideas like this are never fully understood by the masses, but instead they trust the peer reviewed experts that endorse the technology. Bitcoin is not a political tool. Bitcoin is not merely a financial tool. Bitcoin is a social tool for communicating value on a global scale. It can be used for much more and has the potential for becoming a powerful social science tool (because of its anonymity), but for now it can be developed to scale and help humanity break through many of the societal barriers created by nations and globalist powers. Someday Bitcoin will even replace these barriers. tl;dr Bitcoin is too hard to wrap your head around, like nuclear physics. People use the term Ponzi to describe anything financial they don't understand. Bitcoin doesn't need salesmen, it needs trusted scientists to approve of the technology before it will be adopted by the masses. |
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