For anyone who doesn't know me, I'm Roger Ver. Since discovering Bitcoin in late 2010, it has consumed every moment of my life. My company, Memorydealers.com was the first semi-mainstream business to accept Bitcoin as payment. I'm directly responsible for 1. National radio advertisements on more than 100 stations for over two years. @ $2,800 / month http://www.youtube.com/watch?v=5pV9ptoCMyc2. A Bitcoin Bilboard for over 2 years. @ $1,200 / month 3. Bitcoinstore.com4. The Bitcoin Bet http://www.youtube.com/watch?v=gfydIbhduu05. I was the first and only outside investor in Bitinstant.com, Blockchain.info, BuyBitcoin.co.kr and several others. 6. I was part of the seed investment round for Coinlab.com, Bitpay.com, Kraken.com and several others. 7. I donated over $100,000 USD worth of Bitcoins to the Bitcoin foundation to help get it started. (value at the time of the payment) 8. I've also donated more bitcoins than I can count to various charities, organizations, and groups who's goals I support. The reason I have done all of the above is because of the philosophy I hold. I think that all human interactions should be on a voluntary basis. I'm opposed to using violence or threats to solve social problems. I see Bitcoin, combined with the internet, as the best tool the world has ever seen for minimizing the amount of violence in our society. What I'm advocating isn't extreme. The governmental systems we have today, that murder hundreds of millions of innocents, drop nuclear bombs, enforce sanctions, extort money under the threat of violence, control capital flow, debase currencies, and retard the overall rate of economic growth, causing everyone to be poorer than they otherwise would have been, is extreme. Whether or not I end up listed on the press page, with every waking moment, I will continue to promote Bitcoin and the voluntary world it will help to bring us closer to. My philosophy aside, I do think it is clear that I'm great at promoting Bitcoin: http://video.foxbusiness.com/v/2297014298001/should-bitcoin-be-regulated/http://live.huffingtonpost.com/r/segment/the-ups-and-downs-of/5037b5b402a76066bd0000da I also think that the following people should also be added to the press page: Jon Matonis Erik Voorhees Jeff Berwick Bitcoin is about inclusion, not exclusion. Hear, hear. Roger Ver has my full support. I've yet to observe him do or say anything that could be called objectionable, extreme or untruthful in any way. It may be more a sign of the times and current society that we live in that a message of peace and non-violence is found to be "unspeakable". These are not times for lily-livers and weak of heart who fear speaking the truth to power. Just tell the truth, how hard can that be? |
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How many GPUs and in what conditions are you mining with that you need that kind of cooling?
It won't be effectively cooling its maximum load for a month or so, but I expect to cool about 11,214 watts of ASICs and GPUs with this based on my research. I'm not really sure how accurate this number is because there is very little information on the subject, but I plan on adding rigs/ASICs until it can no longer deal with the heat.  As far as I'm aware it is very simple ... electric watts in ~= thermal watts need to be removed |
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It feels like we are running out of gold and Bitcoin's. Price can solve that ... |
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The problem with cryptographically "proving" real bills is that their whole point is to keep people from having to tie up hard coin Okay, I thought that might be the case. So basically the issuers of the real bills need to be trusted to make good on their promises to deliver the bitcoins/gold on the allotted date. Open Transactions can easily be accommodated to produce these instruments, in fact it is ideally suited to it, since anybody can be an issuer of any asset. Adding a component of time to expiry is probably not a big extension since it is already done for the untraceable cash instruments. Having a provably-backed instrument is another level of sophistication that is not needed generally for real bills then. I think we can get something started here ... |
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Okay, for use case then say I'm a buyer of oil.
1) i want to take delivery of oil in 30 days time
2) i issue a real bill, denominated in bitcoins that I can prove exist via the blockchain, to the producer(?) for the agreed quantity of oil
3) the producer takes the real bill and can sit on it or trade it for something else because basically it is as good as bitcoins
4) whoever is holding the real bill (are they generally a bearer certificate that can circulate?) show up on bill expiry date and takes delivery of bitcoins from the oil buyer account
Is that the essence of it or are there other subtleties?
If that is it, I'm pretty sure we can do this with a fairly simple extension to Open Transactions software with a new asset class and use things like multi-sig or locktimes, escrow or smart contracts to ensure that the real bill is a bearer redeemable instrument and etc. I.e. we can cryptographically remove the trust required of the real bill issuer by the bearers. Basically the real bill becomes a cryptographically secured token of exchange, with a provable backing of bitcoins, that will be released to the bearer on/after a fixed date in the future.
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Have some faith man! Regardless of the woeful state of monetary affairs, the world you are talking about is made of people interacting with other people. Adversity has a way of flushing out the chumps and bringing the best out in people. Regardless of the worst possible scenario you can imagine (you seem pretty good at these) the numbers on our screens or in our brains is not going to cause us to mistreat each other for no good reason, even cows do not behave like this ... those numbers can all dissolve and in the end it is one human animal interacting with another human animal. If everybody were cruel, unfeeling, starving, cold beasts then the future you portray is possible ... the fact is we are higher beings and for the most part well-fed and comfortable. Also take issue with several parts; Grandma has done everything right, No, whatever else she may have done but on the whole Grandmas have endlessly voted for a bunch of misguided, uneducated, shallow, lying. cheating leaders offering to fix all her problems for her. This is her biggest error more than all the others. Democracy was a gift not to be squandered on selfish unthinking goals. then this a new idea to suck all the wealth out of the world like a financial black hole! ... was that supposed great wealth ever there to begin with? Numbers in a database are not wealth, they are representations of wealth (that were inflated beyond all rational calculations). All the real assets and productive capabilities of the globe are not going to disappear because of a geek experiment ... but they may one day come to become valued against such a tool. The run to hard assets of alternative currencies was set in motion long before bitcoin came on the scene, all it will do is merely accelerate the demise of the rotten, failed fiat monetary structures. |
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Interesting analysis ... what would be the electronic modern equivalent of the "real bill"? ... this seems like key monetary instrument for a healthy financial system, after the gold/commodity reserve asset.
I think there might a tool out there already that could begin issuing these, if a good description of its monetary properties were put forward I could probably go about getting it implemented quite quickly.
If a Feketian hard coin + real bill system gets moving with BTC as the hard coin, I'd give even odds that real bills will be blockchain objects of some kind, whether " colored coins" on the Satoshi blockchain, or assets on a parallel blockchain which was designed to support exchange of custom paper. So as I understand it the monetary properties are that a company/trader issues a real bill with a promise to deliver the goods or the bitcoin in 90 days (60 days, 30 days, 7 days also options?). Would someone mind spelling out specifically what real bills need to do in terms of payment, settlement, delivery schedules, etc? |
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I think GoldMoney or Pecunix may begin to issue gold-redeemable 'vouchers/crypto-tokens', digital gold or similar that can be traded for btc ... they would be my pick for the first to do something like that. There are already several, maybe as many as a dozen, on-line shops delivering physical gold for bitcoin ... but no depositories as far as I'm aware. The regulatory burden for this space is infested with authoritarian vested interests. Read about the sad history of E-gold's run in with the facist monetary powers. Follow Julia's Digital Gold Magazine blog if you are interested to keep up with it ... http://www.dgcmagazine.com/ |
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Why do banks get blamed for things like "drug money laundering"?
When gangsters use Mercedes-Benz Sprinter vans for human trafficking, it's not like Mercedes gets blamed for aiding gangsters. Unless they knowingly sell a van for this purpose.
Good point ... only problem is the big banks willingly went along with all these crazy fungibility destroying digital money-tracing rules because they had the regulatory capture and it suited their interests. They can spy on their customers (and syphon off valuable consumer behaviour data for mining purposes) and serves as barrier as entry to small banks and competition in the banking space. Now they are hoist by their own petard. They have devalued the worth of their money because it is less fungible, and they must constantly face accusations of providing safe harbour to evil-doers because they claim to be able to use money as a tool for law enforcement (not as a pure economic tool for price discovery) when they should have just stuck to banking ... Of course, now we are all the worse off for it and the economy stinks because we have bad money ... corrupted banks and egomaniacal politicians and govt. bureaucrats who think they can trace everybody, everything anywhere and any time for zero cost. Well, the cost just showed up and it is big brother, crap money and financial collapse ... who coulda thunk? |
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I think you will find that both the IRS and the Federal Reserve were originally set up as corporations in 1913.
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A cool $84k in mining hardware just went through the ring  Who said bitcoin is not backed by anything? |
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Bubble is an ill-defined, vague over-used term .... therefore media ignorami love to throw it around since it is risk-free meaningless accusation. It can be heavily over-bought and over-sold.
At this stage it is behaving like a cyclic asset class ... i.e. a commodity. With phases of temporary euphoric mania and network adoption boosts thrown in to spice things up. All happening on an accelerated time-scale to all traditional market commodities due to internet communications being the medium of information exchange and, most significantly, also the means of asset commodity transport. 24 hour global trading keeps it humming along too.
For how many market participants can barrels of oil or ounces of gold can be physically delivered upon and trade settled in under an hour? Very, very few. bitcoin gives the masses a means to secure and transport value in a way, that up until now, only central banks and a very wealthy few have ever enjoyed.
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Sounds like they JA is tossing ideas around very similar to namecoin ... and something like Ricardian contracts (Open Transactions) for important censorship resistant documents. I thought this bit was salient also and should be stashed in memory for later use Eric Schmidt: The average person does not understand that RSA was broken into and an awful lot of private keys involving commerce were taken. ... right here is all the reason you need to get into bitcoin. |
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Gertchev's article was actually the best out of those, and he did the most research. But it's still lacking, because he missed two things: Bitcoin is form-invariant and can exist in almost any imaginable and unimaginable form, and electronic form of money is by far the most dominant one already. Even in Kenya, 31% of GDP is now facilitated via mobile phones (M-PESA), and this flies in the face of Gertchev's position. Yep. There seems to be a real cognitive dissonance about how Western fiat is already on an electronic ledger basis. Since most people learn as very small children that "money" looks like coins and notes it seems to be huge mental barrier to explain to people that the vast majority of money in the world is held as numbers in a ledger in not so secure electronic databases. If nothing else bitcoin may teach, or coax people to learn, the nature of the illusion of money we have existed under for the last 3-4 decades. |
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None specific but here is link to list that do ... one may actually be open to the idea of Hosting the beta store projects for free to establish itself for future paying options/upgrades etc and as the go-to hosting for bitcoin stores using your paltform. https://en.bitcoin.it/wiki/Trade#Web_Hosting |
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Sounds like Cyprus is going hot again ... parliament refusing to back the Troika's demands (?) again. They might be leaving the Euro if this happens.
Or, they can exit the euro, re-issue their pound using gold to give it some semblance of backing, so that it doesn't immediately hyper-inflate, and tell all the foreign bondholders to take a 100% haircut. if they went out on their own they could implement their own even better low tax, privacy policies and retain a lot of the offshore banking business ... particularly sticking a big fat finger up to the Statists who are trying to strangle them for wanting to be free from the banking oligarchies. |
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Whatever those people say, a typical Vladimir Club member has now 6 digit per day paper losses or gains on their bitcoin holdings recently. This is going to turn into daily 7 digit losses and gains before long. Whatever those statists say is fucking irrelevant in comparison. FFS daily ebb and flow on a such portfolio will be soon higher than lifetime earning expectation of those braindeeads who are incapable of independend thinking. All I can do now is to point them to this http://www.youtube.com/watch?feature=player_detailpage&v=WdrSP0V-KLg#t=167.5sWeird huh? Vladimir Club members better like volatility or invest in ulcer medicine ...  Have we picked out an Island yet ... I can't wait to try out the secret pass-phrase ... something to do with carrots wasn't it? Bitcoin mining, does it worth it? |
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Satoshi needs to come out of retirement (under another Nym of course) to implement zero-coin level privacy so he can move his millions around Take it to the next level satoshi, show us what ya got. |
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