Sounds more like he proposes a Ripple type money. The new agey stuff is more about liberal education. |
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Clearly a magazine with lots of issues.
 Bitcoinmag was a scam anyways.... I paid for two copies, got 1.
There is hundreds of people like me..
Yeah, two out of three for me. International shipping is likely the problem. |
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In other words, if your intent is to exploit it, so you don't care about knock-on effects of being 'exposed', how far can you go?
Suppose your mother gives you huge credit, say a ton of gold or simply infinity. Offer to buy bitcoin for gold and pay through Ripple. You would like to buy for a full ton of gold but sadly no one with an actual ton of gold gives that much credit to your mother. Maybe she gets a kg though, so you order 1 kg gold worth of bitcoin and get them sent to you. Now you have a 1 kg gold debt to your mother, she has a 1 kg debt to her friend who in turn has a debt to someone else all the way to the bitcoin seller. If no payments flow in the other direction your mothers friend will eventually want the debt settled so she pays out 1 kg gold. This is ok, you are her beloved child and she would trust you with a ton of gold! When you meet next christmas she wants her gold from you. This is when you say "Go to hell, mum. My intentions are exploitation and I don't care about knock-on effects of being exposed.". Are you kidding? My dad would beat the shit outta her if she loaned anyone gold. I would need a version of Ripple that exchanges protection. Maybe you would have a bouncer dressed as Santa pay him a visit and take Ripple as payment. I'm not sure if he would need a gun though. Dad might get jealous of a guy carrying around a lot of presents. It might be better if he has a getaway driver as well, just in case. Happy Holidays! |
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Whenever I hear demurrage, I'm thinking this is code for gold hoarding. |
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Let's us dudes credit each other a million ripples so we can all be rippleaires. We'll give our friends a discount and kickback for accepting our IOUs. Then they can be rippleaires too!
Go ahead! This affects no one but you and your friends. Great for you that you trust each other that much! This is how the current system works. It's not about friendship, it's about collusion. Quants make the IOUs out of whatever they scrape out of the trash bin and their broker buddies sell it to suckers. Ripple will work the same way. |
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Let's us dudes credit each other a million ripples so we can all be rippleaires. We'll give our friends a discount and kickback for accepting our IOUs. Then they can be rippleaires too!
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But two or more people can have access to the same cryptographic elements that make up a bitcoin account/address. It loses rivalrousnessess then.
edit-- i just re-read your post. You are referring to the wallet (PKI) not the actual bitcoin. they are 2 different things ++++++++++++++++++++++++++++++++ if you're speaking of double spend. then the duality is only for a very short time and not persistent . the confirmation process would determine there to be 1 owner and drop any redundant transactions. a persistent duality would determine non-rivalrous not a timing glitch. limitation Multiple people can have the same Bitcoin. If I give copies of a bitcoin to several people and ask them to go find something I want and that they can keep the change, the first person that spends it ends it's existence, but before then it could belong to any of the holders. |
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An opinion is neither true nor false, and money/property is ultimately a shared opinion.
Good answer. I wonder if a kid ever refused to complete a school exam on the grounds that they may be stealing intellectual property. |
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Ripple is a great idea for a system for people that trust each other. It is not appropriate for a financial system as it is far more corruptible that the current fractional reserve system. IOUs, really? This is article is a disingenuous claim.
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I'm still somewhat new to bitcoin, maybe that's why I see these as having very limited usefulness. On the one hand the geek in me wants to run out and get some holograms and roll my own, but otoh I see some drawbacks and I'd like others' feedback:
1. For tx where the sender is online, this adds needless complexity.
2. For offline transactions, the receiver has to trust that the buyer does not have a copy of the pk AND the bill does really have the stated btc on it. If that level of trust exists, the receiver might as well wait until the buyer gets online, no?
3. How would change work? meaning, I have a 10btc bill, and I'm buying something worth 1.37....? fall back to $/eur?
4. Use it for offline storage? The standard-no-art bitaddress.org paper wallet is just as good, and more low-key. I guess the hologram version has the advantage that it's not possible to get your pk qr accidentally scanned by a cctv camera, but that's about it. If someone else gets access to it, the tampered-with hologram is just there to tell you "don't bother checking, your bitcoins are gone".
Really, I only see this as a novelty item/gift card. That's ok, btw.
thoughts?
Correct on all accounts. Here is a slightly more useful, but more complex version. |
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The only thing this would accomplish is to get people to move to litecoin or one of the other countless coins. It only makes sense in such a scenario if bitcoin is the only payment method in existence.
The world is heading to just one currency, full speed. Many people and organizations in high places openly support and are promoting the idea, UN included - check the Agenda 21 topic on this forum and elsewhere for the ultimate in controling others' lives. "In an effort to attempt to control and track transactions made through the now-ubiquitous Bitcoin network, the government has required every citizen to be injected with a NFC chip, with which they will hold funds and verify transactions. Furthermore, a permanent government-provided stamping visually indicating that an individual has a valid NFC chip is required. This unique, non-replicable stamping will allow businesses to easily verify the legitimacy of anyone whom they wish to transact with."
There is no need to look far to see most business people in Bitcoin community cheering it. What is distrubing with that is that they are the ones at key positions in Bitcoin food chain already. Cheering what? People being injected with NFC chips? With business people, everything is of secondary importance to business itself. "This unique, non-replicable stamping will allow businesses to easily verify the legitimacy of anyone whom they wish to transact with." How many more big and small scammers this community must deal with before sentence above starts making the perfect sense, and chipping everyone becomes the obvious and praised solution? I say not many. Just ask those that lost big amount of cash in previous Bitcoin scandals, and those investing right now and / or having huge investments already what they think about it. Sure, many will deny it right now, but from their actions and a goal, it is easy to see what they are praying for. Ordinary people won't have any say in it. NFC chips with deterministic keys would mitigate the risk of entities sharing personal data. It would ensure identity, yet also privacy. Bitcoin may be an ideal version of this. |
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They should ban money because even stupid people like that can steal it.
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The Rolling Jubilee is an idea that takes advantage of the shadow banking system rehypothecation infrastructure. This group buys bad debts at a fraction of their face value from lenders willing to take the write-off. They are normally bought by debt collectors, but in this instance they are randomly bought by an organization that forgives the loan instead. It looks like typical loans are sold for less than ten percent of face value. If everyone joined in with this, personal debts could be theoretically wiped out. Something tells me that this really is too good to be true.
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Casascius "accidentally" makes a two party escrow utility that will change the nature of commerce. Incredible! Now we need it gussied-up a bit and we have us a killer app.
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If you hear a loud noise in the sky and start seeing people floating up, then you can worry.
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I would love to see more banks adopt Bitcoin like this. Eventually businesses like Amazon will start buying them up for payment processors. When they see how easy Bitcoin works, they will look for ways to streamline. Then they will finally realize they never did need the banker middleman.
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I received my order today. Actually, it arrived at the PO yesterday, but I was able to pick it up today and wore my BTC with pride.
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Seriously? You can't tell the difference between a religion, a terrorist organization and a race?
No, that's not what I'm saying. I'm saying that nobody cares about the shit that comes out of you. Islam has not "always been about jihad" you dickweed. There are over a billion members of islam. Troll. I see you're denying one of the primary tenant of islam is that it commands non-believers be killed and specifically that jews should sought out and killed... If you identify yourself as muslim then I'd suggest you start by actually reading the qur'an before you get all hot and bothered by someone calling it what it is. Seriously, just read it - start at the beginning. Or if you're too lazy to actually study (as I suspect) then you can simply skip to 9:123 where it says "Believers, make war on the infidels who dwell around you." But yes, I'm trolling here. Because god forbid that you actually know the scripture of the violent religion that you espouse to be a member of. There is violence in all the other Abrahamic religions as well. Probably in other religions too. I could list many many pages of them, but this is not the place. This does not make any of them inherently violent. Only atheists eat babies and drink the blood of virgins.  |
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There are vendors wanting to cash out some bitcoin based sales, but probably most of the movement on mtgox is daytrading.
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He needs an analogy he can relate to. Maybe the fact that Bitcoin is an open-source currency.
Oh no... please don't. GNU actually had most of the operating system ready, and it was just Satoshi that came along and added the final piece they needed for digital currency in the GNU operating system. We could give him 'censorship resistant money' though. or Bitcoin is for Gnumismatists. |
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