I'm just going to re-iterate the point that "what is wrong with the current currency system" is not that it is "scarcity based", but that it is credit based and that all measures of credibility turn out to be completely and totally fraudulent, leading directly to massive mal-investment and systemic failure.
+1000 |
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Shoot the moon!  No, no, no.... shoot to the moon. I want to visit Chandra, not destroy him. |
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Suggest that he set up a benevolent mining monopoly which controls the majority of hashing power, but excludes all other miners. Point out the profitability of this venture as the ability to earn 100% of newly generated bitcoin with just 51% of available hashing power.
I doubt this billionaire would want to become a millionaire for the sake of bitcoin. 51% would require the largest datacenter in the world. |
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take some time to read up on the multi sig features coming... they solve exactly what you are trying to accomplish ( problem of the stolen wallet ) , without chargeback ...
+1 What usecase does your solution have that multisig can't handle? |
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Why do people focus so much on the mining? Normal users don't need to get their coins that way. Plus, Although the amount of coins being added to the system is not a huge portion of the total coins, it and is constantly getting smaller.
If people are just focused on the subsidies, they are looking at the system completely wrong. There are plenty of ways to take part in the economy besides mining.
FTFY Currently, the monetary inflation rate for bitcoin is about 2.5% per month. |
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In my opinion it would be best to influence all of those people between you and him to use Bitcoins. People like your friend, his godson, other people who regularly interact with him.
Go for the most likely users, maybe e-mail them a few Bitcoins to spend as a birthday gift.
+1 Surround him with it so it's not the first time he's heard of it when you suggest it. |
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1. Short
2. Rebuy below 4.5.
3. With our new support, blow through 5.
We'll never get significantly past 5 without a downspike first... unless someone with a lot of USD takes a big risk (not that unlikely).
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First of all, the way it is mined privileges the technical community itself... If it was easy everyone would be doing it. I want to become a gold miner but I don't have the machinery to buy bulldozers. If you don't want to mine you can invest in mining contracts. Or have miners mine the bitcoins for you. Well the anybody can do it opportunity is already here. Just buy a butterfly and plug it in. seriously, there are no more excuses. +1... also update your blog... it's been nearly a month. |
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Several options applied IMO, but I chose the one that has the mostly likely short-term price action even if I don't agree with the reasoning.
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What are the chances that I found two BitcoinTalk users when I asked the question, "What would buy with 10,000 bitcoins?"? http://logs.omegle.com/5bc55fWow |
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a very slow down to 4.25, fallowed by a even slower climb up and over 5.1 at which point news about some new service offered in bitcoin will trigger a wave of new money willing to buy coins no matter what the cost. hell slips open... the never ending bull run continues
I could buy that, but I don't discount the other possibilities as easily as you seem to. |
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I'll help you out... dmcurser and chungenhung are users I have dealt with recently who can vouch for me I'll PM my order. Please be sure they will not require signature; I'm not willing to commit identity fraud. Please note the order is to be picked up at 10:15 tonight. Terms from PM: When the order is placed, message me an address I can pay once I pick it up. If I do not receive a message by 9:30 PM EST (2:30 AM UTC), this offer is void. I will pay the amount on the receipt converted to bitcoins at $4.9/BTC no later than 11PM EST.
If they want a sig just sign your own name. They aren't going to turn down the sale at that point even if you write apple horse happy. Turns out he couldn't order for me... the restaurant wouldn't take his card info over the phone. |
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rastafari live forever!  It's all that "reasoning" they do  . |
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Noob question, but how do I payout? Is there a minimum payout amount or something? Because my balance currently is about .98BTC, and the automatic payouts never kicked in in the past few days.
I dont know this for sure but im guessing the min payout is 1 btc I get payouts smaller than that. |
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I'm quite surprised the price is still steady...the hourly macd has just done a U-Turn south, the RSI is in bear zone, volume is trending down, and money flow is moderate bearish.
It goes to show you how powerful trend lines are on human psychology. I can see that people really believe the market will act one way or another because of those lines. Makes me think the price is completely arbitrary! (well, already kind of suspected that)
I guess we're really just waiting for The Manipulator(s) now, to show their hands and take our money and coins lol.
Anyone got an idea what time the two super trends crossover? Ima have my popcorn ready.
The problem is we're right in the middle of a bunch of averages. We'll be fairly stable until someone gets bored and bails or ballsy and charges. |
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That is amazingly accurate.
Hopefully this year that guy tries again and makes it. He didn't build enough pressure before lift off. He needs to take it down one more time if he wants to clear the bar on the next run up. |
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I wasn't going to... then Proudhon had to bring out this awesome price visualization graphic.  |
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Check it out, guys! I found a video of the exchange rate from mid-May 2011 to today. That is amazingly accurate. |
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