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Jason, it isn't just government currencies that are sure to fall. It is all centralized currencies. If the currency is small and centralized it can get crushed by a bigger group, if it is the hugest then it will rape you itself.
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Government currencies are always more dangerous than voluntary currencies.
People have a tendency to overinsure themselves against high frequency, low impact events and underinsure themselves against black swan events. Just because some government currency hasn't failed in the last 30 years doesn't mean it isn't 100% guaranteed to. because it is. After the bubble things go back to their actual value to people. And stained paper is not very valuable. |
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We need a worldwide map where traders can add themselves.
bitcoinmap.com |
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I'm a buyer on the day the government says bitcoin supports terror for sure. That's going to be a huge pop.
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FreeMoney, I understand the hyperbole. But you would sell your bitcoin for a Billion Dollars. You would likely sell a bitcoin for $1000, probably even $100. You seem to imply that the last bitcoin is worth some outrageous sum of money. Or that the price will rise astronomically if someone tries to buy them all. Why? Regardless, whether someone buys all of the bitcoins is not the issue. One would not even need to buy them all to back them by a contract for gold. True, the backing is only as good as the contract. That is why even if you completely trusted e-gold, it still doesn't matter because the US Government destroyed the contractual relationship. So I picked a Swiss Bank for my example, but it could be any entity that people trust to deliver an amount of a given commodity like coffee for one bitcoin. It is the difference between a currency backed by something, and a currency like the dollar backed by nothing.
Yes people can offer gold in return for coins or the reverse. Is this all you mean? It's been done on this forum, you don't need to be rich. |
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Assume for the sake of argument that all 21 million coins were in circulation as of just today. Suppose some rich reputable entity (Bill Gates or the Pope) bought up all bitcoins at market price (29 cents) for $6,090,000.
I have a bitcoin, I'm not selling it at 29 cents. How is anyone going to get them all for 29 cents each? And this really has nothing to do with me thinking that the market price is really low right now. If coins went to a billion dollars each I'd still have no reason to part with my last one since I'd have more than a trillion dollars already. You can back stickers with platinum if you want, but 'backing' is only as good as the word of the backer. |
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With DRM, all you're doing is offering an inferior product.
I agree. But there is a market for inferior products. |
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This is not directly bitcoin related.
But today I got denied an apartment because I owe Sallie Mae $3400.
Its not a whole lot of money, but its about $3400 more than im willing to pay.
Does anyone know any loopholes to get out of it?
It is mostly my fault for accepting federal money in the first place.
Pay off your loans? Isn't it taxpayer's money? (I know, tax is theft and all that, but we shouldn't be parasite on taxpayers)
Tax is NOT theft, it's the rent... the price of admission to civilization. This is clearly not true. If you don't pay admission any where else ever what happens is that you leave. Is that how it works with the "admission fee" of taxes? Do they escort you to the border or do they lock you up so that you can't get to the border? And what about the ~100 million Americans that don't pay any taxes is anyone even advocating we kick the poor, disabled, underaged, retired out of the country because they don't have their admission money? And why do we have to keep paying over and over in various changing ways and amounts after we've been admitted? What would you say if Disney Land put you in their dungeon because they raised the rate after you paid it or tried to charge again? |
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Nice poll. Did you stop beating your wife?
edit: sorry that isn't clear. I think the poll is bad for two reasons. If someone has almost no income that they can afford to save then the number will be small even if they want to save it all in BTC. If they have tons of extra income they might save 20% without even thinking that bitcoin is super awesome.
Maybe better to ask about wealth. And the economy is tiny, but it's already been kick started (by a pizza imo).
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It may be a non-issue to the minority of us who can shift decimal points about with ease, but for the majority of humans, currency units need to be scaled to practical values.
You misunderstood, nanoCoins would be integers displayed to the user handled under the hood as 1e-9 BTC. Transferring 1 BTC to this client would display a balance of 1,000,000,000. This really shouldn't be worried about Technically it won't need to be worried about, logistically it will. You want Amazon to eventually support BTC right? Does their current system support .000001 precision? If they can change the text next to the field to say BTC then they can make it say NanoBTC too. This is a non-problem. |
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The bitcoin is divisible, easily to 8 places and it is possible to patch it to do more later on. You don't need higher and higher amounts, but you may need more and more units, we have that.
FOFOA is great, I wonder when he'll write about bitcoin.
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QQ/BTC exchange site could be made? Tor bridges sold for BTC so china gov has to mine?  |
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the fact that it uses digital signatures and not pki is i think exactly the piece of the puzzle i need to form a somewhat coherent picture. Thanks for all the great responses. One thing im still somewhat unclear on is once the network opens a new block it seals the old one correct. But if we are all adding information to the newest block after the block is sealed how does the network determine which version of the previous block is the newest one. Maybe when a node is searching to see weather or not it has the most accurate blockchan it also looks to make sure each block in the chain is independently longer than the blocks in its chain as well as checking to make sure the new chain has more blocks total.
No, block length is not used to determine anything. Once a hash below the target is found the block cannot change at all or it will invalidate the hash. Any transactions will have to go into the next block. If a block contains invalid stuff then others will not build off of it. It won't totally disappear from reality, but it won't be part of the longest chain which is all that matters. |
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My licence is expired and it's 35$ to get a new one..
Okay, just thinking of options for you. Did you get my PM? |
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I assume you have no car, but do you have a licence?
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PM sent, in case you don't see it.
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My paypal is linked to a prepaid debit card, so it takes 2-3 days to get it, but they let you do direct deposit on prepaid debit cards, at least with only1... I don't even know how bitcoins work honestly...
Sorry to ask things you already answered. I did try to read your post. So PayPal will not help you get a hotel for tomorrow night? Since there aren't too many bitcoin merchants yet, bitcoins probably won't be fast enough since you'll need to convert them to cash or something. |
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You have a computer of your own I guess? Do you have a safe place to put your things if you have to sleep outside? Do you have a phone? Do you have a way to get money out of PP immediately?
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I understand you don't know me, I was advised to come here via a friend from hackthissite to download this program.
I'm just getting to a point where I'm so desperate I'm asking anyone I can think of... The shelter here in boulder does a raffle at 6pm, you pick a ticket, first 100 people get in, first come first serve. I get off work at 5:30 and I can't even catch a bus until 6... I tried calling the shelter but they won't make any special arrangements.. I'm alright with sleeping outside but I need to be up by 6:30 showered and ready, and I can't do that homeless. I'm still waiting on my first check, and hopefully I can get a place with that, (I have a friend who rents properties and he agreed to rent to me without a deposit) but I need some help in the meantime. Maybe you don't trust me, I suppose you have no reason to. But I'm reaching out for an ounce of humanity in order to help me stave off the storm...
I really wish I was making this all up.... I really do.. But the mother of my child doesn't want to have anything to do with our daughter Lily.. and last I heard she got arrested while she was prostituting herself for cocaine... It hurts so much because she used to be a good mother, if she was shit, I could understand.. but she breast fed for 14 months! She taught her well, so attentive and patient. My daughter said please and thank you by 14 months, and knew what it meant! It would be easy to let her go if she was a shitty mother, but I'm having trouble... The drugs turned her into a woman I don't even know anymore... Should I try and get her back to who she was or just give up? I don't know...
I'm trying to understand what your situation is, but it is hard. You seem to be on your own, where is the baby? Is there 1 or 2 kids? It sounds like one was born recently, but also like one is over 14 months old. Are you in Cali or Colorado? if you are alone it can't hurt to give your exact location. The only real help you will get is from people physically near you. Maybe someone knows someone who can help or has a reputable forum account at a forum with lots of members in your area or something. |
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My experience so far: When I try to explain the benefits of Bitcoin to friends and relatives, in the majority of cases I get a strong negative emotional response.
This response is almost automatic, knee-jerk like. There seems to be something at the very core of Bitcoin that bothers "normal" people, something irrational (when I ask them to be specific about their objections, they become irritated or change the subject).
When I try a rational response, it doesn't work. Even if the rational part of their brain agrees with me.
Do the people you are talking to generally disagree with you on big things? State power in particular? I don't know if what you need is an argument about bitcoin here. If they want the world to stay the same and you want to improve it then you might need to talk to them about the fundamental issues first. You also might find that you get no where with that and that these people will not be on your side. Sorry, lots of speculation in there, it may not apply. |
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