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Bitcoin encourages saving.
The fiat system encourages debt.
This is what Bitcoin can do for the indebted.
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Politician: "Something is bad"
Voter: "I don't like that!"
Politician: "I will fix it by taking money from you and spending it on whatever I want"
Voter: "Yay! I feel better now!"
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Yet another thread where nobody agrees with the OP but everyone must post telling the OP how bad their idea is.
Consensus does not matter to me. The majority agreed with slavery. The majority believes in the private ownership of land. The majority probably thinks bitcoin should be shut down. The lynch mob agreed the guy should be hung (the guy at the end of the rope wanted a trial). As Ayn Rand would say the individual is a noble being, not a sacrificial animal, and has rights. Well, at least this thread has the OP there to bump the thread instead of the thread about trying to get ISIS to adopt Bitcoin. Just an FYI...nobody will do this. |
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You are being taxed just for being alive.
With the income tax you at least have a choice of not working. This is a tax on breathing.
Correction: This is a tax on breathing brought you by liars who believe you are too stupid to understand it is for your own good... I'm more offended by the tax than how they got it passed. You can't blame ignorance and lies when a tax is being passed and people support it. |
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I did it once with one of the alt coins with about $1000 in its early stage.
I bought up about $200 worth, which was a lot for such a small market.
Then I put half of that for sale (let's say 10 coinz per $1) of 1000 coins at $1.05.
With such a 'big' sale, other sellers put their bids at $1.04, $1.03, $1.02...etc...they kept their bids lower than mine because they knew the market would not go above my sell for a long time.
When someone puts their bid at $.98 I put another sell of 1000 at $1.00 solidifying that $.98 and more smaller sell orders at $.97...$.96...$.95.
Push it down as far as you can before you start seeing walls building on the other side. Then you start buying up coins in small quantities...keeping the price low with all new sellers. Move the big wall of 1000 coins from $1.05 down to $.97 ensuring that the price is going down and now is the time to sell.
Once I have the other $800 turned into coinz at $.95...I drop the wall at $.97. The price starts going up...the spring has sprung...the price continues rising, pull the sell at $1.05, other walls fall...the price is now over $1.10. Start selling a few at a time during the rally until you end up with $1,100. A 10% profit with a little bit of manipulation.
Now imagine this on a larger scale with $1 million.
Plus they use one exchange (see: BitStamp) to move the price while their main money sits on another exchange gobbling up the change in market moves.
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Price is down, miners turn off their machines or sell them when that happens.
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I think he was banned for making so many alt users.
Like riiiising.
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Ahh!!! It's crashing to levels not seen in a long long time!!!
I'm selling all of my bitcoins!!!
Aaaahhhh!!
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Bitcoin being used for even more illegal activity.
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I did that.
I can still not like it, from afar and feel bad for everyone still stuck there.
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You are being taxed just for being alive.
With the income tax you at least have a choice of not working. This is a tax on breathing.
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Dude's a great swimmer.
Everything else in his life...that's on him.
Swims fast though.
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Yes but the thing is last time tim draper got badly burnt with his strategy of buying above market - and additionally the 50k coins currently up for auction arent even the entire stash. theres even more to come... If I were a bidder I would lowball the first auction and see if there was a demand before bothering to pay above market -
How did he get burnt? He was able to buy 50k bitcoins at a lower price than he could have paid on the exchange. |
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Yet another thread where nobody agrees with the OP but everyone must post telling the OP how bad their idea is.
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Merchant finder app would be great.
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http://www.cnn.com/2014/11/13/world/meast/isis-currency/index.html?hpt=hp_c2ISIS is planning to mint its own currency in gold, silver and copper, the group said Thursday.
Its aim is to stay away from the "tyrant's financial system," ISIS said in a statement. It said it would issue another statement to explain the new currency's exchange rate, and where it can be found. Sounds like they are printing their own kind of FIAT. More scamcoin. I think this is a great opportunity to show them Bitcoin and get some users from the Middle East. The anonymity and low fees are sure to be a turn on. How can we spread the word and help Bitcoin go TO THE MOON!? I HAVE NOT READ ANYBODY ELSE'S RESPONSE IN THIS THREAD BUT LET ME BE THE FIRST TO SAY THAT THIS IS A BAD IDEA. |
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The simplest question would be to ask the guy to point out just one natural monopoly.
And when he gives an example of a government created monopoly ask him again to point out just one natural monopoly.
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There does need to be some level of fraud protection as most people are not savvy enough to spot potential scams and as a result would end up losing money via scams and as a result there would be a lower overall level of commerce
But wouldn't people evolve to the point where they become more savvy with their money. Like any time they let someone hold their money there would need to be a lot of trust and assurances. Maybe it would reach the point, using multisig, that the likelihood of fraud becomes so rare that laws would be meaningless. But we are granted a convenience in the thought that the government will step in if anything goes wrong so we can trust everyone. It may just evolve on its own and the laws will become unnecessary on their own. The freedom that Bitcoin has provided is providing the solutions that laws have been providing for decades. |
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Maybe just have the miners delete all addresses with less than 1 bitcoin as dust.
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Oh wait... http://www.cato.org/people/kevin-dowd"Kevin Dowd is a visiting professor at the Pensions Institute at Cass Business School in London. He is an expert on free banking, central banking, financial regulation, banking history, financial risk management and pensions." Get in line professor. "academics" are stepping forward daily to talk about how bad Bitcoin is. I doubt this speech will get you any paid speaking slots at the World Bank conference like other professors. You need to try harder. But you have many dinner parties to look forward to. |
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