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61  Economy / Economics / Re: Worst bitcoin decision you've ever made? on: September 01, 2014, 07:07:21 AM
That's a tough one. Probably selling more coins than I would like to admit in the $10 range. Tongue
A lot of people did this. I have spoken to a lot of people who have been involved in bitcoin for several years and this is a very common theme.
62  Economy / Economics / Re: will America ever be free again? on: September 01, 2014, 07:04:38 AM
The internet is that new land of opportunity. Leave your oppressive state and find freedom wherever it may exist for you.

What do you mean exactly, in reference to the internet? I'm intrigued by your comment, but I'm feeling sort of trolled right now. Cheesy
I think the point is that people can post/write anything they want on the internet. They have more or less complete freedom of speech with very few exceptions.
63  Other / Off-topic / Re: My favorite drink is........... on: August 06, 2014, 02:53:54 AM
Water  Grin
I very much enjoy a nice cold glass of water.
64  Other / Off-topic / Re: What Song are you Listening To? on: August 06, 2014, 02:52:35 AM
Sexual Eruption by Snoop Dogg
65  Other / Off-topic / Re: 1000 posts! on: August 06, 2014, 02:50:41 AM
My 1000th post! Cheesy I'm so proud of myself.  Smiley


Wahoo!

Now all you have to do is get 10x the amount you have posted so far to reach the 10,000 mark.

I think the mods should give some kind of special label to users who post very large amounts (maybe 10k+ posts).
66  Other / Beginners & Help / Re: What is a Bitcoin Whale? - The answer is here for the new people on: August 06, 2014, 02:46:00 AM
Whale is anyone that can cause a 80% crash in a big sell, like our friend mr 102 from btc-e


OMG. This is certainly an example of a very big bitcoin whale, but I think there are many, many other smaller whales that can cause a major impact on the price of bitcoin.
67  Other / Beginners & Help / Re: Newbie DO'S and DONT'S? on: August 06, 2014, 02:28:21 AM
If something looks too good to be true, 99.9% of the time it is.
Don't trust anything on TOR

What do you mean by "Don't trust anything on TOR"? Huh
Anyone selling something on TOR is almost certainly trying to scam you. Even if the site is on the hidden wikki, it is likely a scam if they are asking for payment.

There are very few exceptions to this, but even these are laden with scams and usually involve something illegal.
68  Bitcoin / Legal / Re: The blockchain breaks the privacy laws (?) on: August 06, 2014, 02:25:57 AM
Plus, it's a voluntary act. Using Bitcoin that is.
This is the most important fact in the conversation. Since consumers voluntarily provided their transaction data to the blockchain (when they sent the TX), knowing that the information would be public they have no standing to sue over privacy laws.
69  Bitcoin / Legal / Re: All of Satoshi's bitcoins will belong to NY after 5 years of inactivity on: August 06, 2014, 02:24:13 AM
Forfeit Bitcoins that are inactive for over 5 years to the State of New York - (200.12c)

Am I reading this right?

No. No more than dollars under your mattress you don't use for 5 years belongs to NY.  Abandoned property deals with THIRD PARTY accounts.   So under the BitLicense if you had an account with an exchange and you didn't login for 5 years the EXCHANGE would turn the account over to the state.

Holy mother of fuck that cannot be real.

All they gotta do is make up some bullshit charges (Patriot Act or something) and put you in jail for 5 years and then keep all your money for inactivity. If you use coinbase or something that is.

Eh no. If you are convicted of a crime the government has no stake to take any property from you that is already yours.
The law prohibits the government from seizing property or money during incarceration, this is why people found guilty of embezzlement go to jail for a few years and come out rich as fuck. They strike a plea deal that states that they only pay a small fine and spend some time in jail, once they pay the fine the government cannot take any more money from them for the crime.
The government can seize your property that you acquired as part of your crime. If you otherwise owe money, the fact that you are incarcerated does not prevent anyone from getting a judgment against you and seizing your assets.
70  Bitcoin / Legal / Re: POLL: How do you think government regulation will effect bitcoin? on: August 06, 2014, 02:21:45 AM

Have to be regulated to become mainstream unfortunately - if you wanna see $40k a BTC. 
This is true. The unregulated nature of bitcoin currently likely is preventing both consumers and merchants from wanting to start adapting bitcoin use. With small amounts of regulation Bitcoin will get a certain amount of legitimacy.
71  Economy / Economics / Re: Do Buybacks Obsolete Dividends under current Tax Code? on: July 27, 2014, 06:00:39 AM
no. Dividends allow shareholders to receive current cash flow while dividends allow shareholders to receive a potentially higher share price in the future when they sell their shares. Cash today is much more valuable the. Cash tomorrow or otherwise in the future.
72  Economy / Economics / Re: You work your butt off, and a rich dude does nothing and gets rich - how? on: July 27, 2014, 05:53:11 AM
Notable quotes from Keen:

Quote
Banks, private debt, asset markets and money played essential roles in Minsky’s vision of capitalism, but they were completely ignored in mainstream economic models before the crisis. This is where Abbott was and is wrong: just because left-wing economists are ideological, it doesn’t follow that mainstream economics was logical. Crucially, its illogical decision to model capitalism as if banks, private debt and money didn’t exist led it massively astray when it came to perceive grave risks to the real economy.

Yeah exactly.  So why you keep thinking Central Banks and fractional reserve create money?

Central Banks create base money but half the money exists in shadow banking.   This is all uncharted territory and where the post-Keynesians & MMT'rs put their focus.  The issue is how to regulate shadow banking.  We already know how to deal w commercial banks


it is important to understand that any major changes to the regulation of shadow banking can cause huge effects as the shadow banking system is highly leveraged
73  Economy / Speculation / Re: Let the games begin on: July 27, 2014, 05:46:15 AM
Yes it was going down but now you have to post the chart updated  Smiley
The drop was quick but the price isn't crashed, just a little drop after weeks of stagnation.
this is a very small drop when compared to other crashes of bitcoin.
74  Economy / Speculation / Re: Anybody net short bitcoin? on: July 27, 2014, 05:38:58 AM
You'd think it would be easier to get laid in this forum with all the pussy here  Undecided Sad
LOL. There is none of that here except for that Jenna chick who is in college.

I agree that you are generally not going to profit by shorting bitcoin
75  Economy / Economics / Re: could decentralized exchanger revolutionize bitcoin? on: July 24, 2014, 10:59:38 PM
I think this would add a lot of spam to the blockchain
76  Economy / Economics / Re: Why is China Hoarding Gold? on: July 24, 2014, 10:53:29 PM
China has a huge trade surplus win almost every country that it trades with. So it will naturally accumulate large amounts of this kind of assets.
77  Economy / Economics / Re: What Type of Investor are You? (and Why?) on: July 24, 2014, 10:44:25 PM
I don't see an option for Hodler
a holder would be someone who buys and hold for the long run
78  Alternate cryptocurrencies / Altcoin Discussion / Re: Best PoS coin to invest in? on: July 24, 2014, 10:37:32 PM
PoS = piece of shit.

My advice is don't invest in a pos coin
79  Bitcoin / Legal / Re: Recover Bitcoins stolen from Coinbase on: July 24, 2014, 10:30:39 PM
This is crazy. Coinbase employs additional security measures above what would be available if you simply had private keys on your computer or had private keys in your possession.

People are lazy and did not choose strong passwords, or had their email hacked.

I personally had 2FA enabled, API disabled and all security as tight as it can be. Bitcoins were still transferred out of the Coinbase account without me asking. Never received any 2FA codes or calls on my cell. Same happened to many other people. Coinbase just says sorry.
sounds like an argument it not allow a third party to control your private keys
80  Bitcoin / Legal / Re: NYREG:What does 209 b mean for exchanges? Do they have to buy addititional BTC ? on: July 24, 2014, 10:10:39 PM
No, it just means they're not allowed to operate on fractional reserves.
this is correct. exchanges must actually have 100% of the bitcoin that they owe their customers in their control.
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