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I hear people using terms like hoarding, trading, investing etc. Bulls and Bears argue about who predicted the latest rally or trap. A recent thread boasted about selling Bitcoins to buy a new car. I mentioned that I would have financed the vehicle with a low interest rate over years because Bitcoin's ROI outperforms everything. Somehow, I just think that there is a generation that wants everything now and doesn't really think long term.
I see exchanges making microtrades and casinos making microgambles all for microgains. There seems to be an obsession with wanting immediate results. People talk about getting in and out of the market and make ridiculous charts that are supposed to predict when to time these decisions. Here's the thing: Bitcoin doesn't care about any of that.
Bitcoin is designed to grow in value (deflate) as it grows in popularity and usage. The best thing to do with it is save it until you need to spend it. It's about taking responsibility for your actions and having a reliable place to save the money rewarded for your hard work. So lets stop using stock market investment terms and focus on the social benefits and the good Bitcoin does for responsible hard working people. At least I will.
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I still don't get it. At least Bitcoin is a proven technology using a torrent network with a distributed ledger file. What technology makes Ripple unique?
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My balance was adjusted and the bitcoins came through immediately. I hope to use coinbase more in the future and that other exchanges will enter the Bitcoin arena.
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In this case it probaly would have been best to finance the vehicle and make payments with deflating bitcoins over several years. Hmm... a new car sounds like a good idea. Is that a hybrid?
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MtGox recently added an optional transaction fee and coinbase does not have one either. There is enough mining out there right now that a fee really isn't necessary yet.
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With the blockchain bloating, I'm concerned about people that created wallets with the Satoshi client to purchase bitcoins and then just made backups of the wallet file. If they don't access the wallet file for many years, how will they load the wallet again if the blockchain swells? Should they be warned against using this client for long term storage?
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Does raw milk go better with raw cookie dough?  |
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There was a team of devs that went to see this device demonstrated. It seems to be legit, but I wonder if it will perform in the field the way it is hyped. Considering that it has been in development for 5-6 years, I'm thinking there are more than just manufacturing difficulties. I would like to see a smartphone bluetooth or wifi version of this type of protocol.
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There is no reason for any patriot to hate Bitcoin. It is no more anti-government than gold. In fact, Bitcoin can be minted in the same way as gold, figuratively speaking. Governments do not print gold, they get it the same way everyone else does. The US Constitution gives the government the right to mint coins and there is nothing stopping them from creating official coins out of Bitcoins through whitelisting addresses, creating Casascius style coins, or some other scheme. In fact, all alphabet agencies staffed with educated patriots should recognize that Bitcoin's one unique property is to promote liberty.
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At least it appears they are working on the problem. If I had intentions to sell I would be upset. I successfully transferred 60+ bitcoins out of Coinbase last night.
Good luck to you.
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I think this one is caused by a problem at coinbase. Hopefully, they get it sorted.
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What country do you live in that doesn't have internet? |
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Well coinbase took my money and never sent me my bitcoins. They zeroed out my account, but have no record of sending my bitcoins to me, instead it says I sent bitcoins to them.
edit: I sent an email to support. It wasn't easy to find the support page.
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Two problems with discussing crime in the context of any global technological innovation like bitcoin: relativism and corruption.
Relativism -- Except for those acts identified by Bastiat as universally criminal, one society's crime is another's norm. No matter how digusting and criminal you consider an act to be (drugs, gambling, prostitution, bizarre consensual sex, sex between adults and adolescents, eating insects, dogs, cats, etc.), I can find you a society that considers the act normal. And no matter how obviously acceptable you find an act (lending money, Protestant worship, female literacy) I can find you a society that considers it a disgusting crime. Like it or not, the globe is vast, and bitcoin is global.
Corruption -- Victimless crimes are exploited and enforced by those in power to oppress everyone else. This is because such "crimes" are deliberately crafted to be ambiguous. They enable punishment of the powerless, no matter how timid and cautious. They exempt the powerful, no matter how arrogant and tyrranical.
Well said. Thanks for pointing out that different societies exploit the powerless of all ethnic and religious persuasions. Corruption is an equal opportunist enterprise. |
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I guess at some point it might be a good idea to verify that all of these people are alive and well and not, you know, in Gitmo.
Oh, they are probably building a special rendition camp for bitcoiners. |
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There is nothing stopping a business from accepting yen or euro if they are willing. They are only required to accept legal tender if it is presented. Bitcoin is just another currency from a merchant's view.
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That partially answers the question about the early adopters holding most of the bitcoins. The original programmer cashed out in 2011. That still does not prove he is Satoshi Nakamoto, but he probably knows who he is.
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They tweeted this message a few minutes ago:
"To those with unconfirmed transactions - rest assured, we're currently working to fix the issue."
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