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I have the need to occasionally transfer some funds from GBP. I have been having the bank do it but have been seeing large chunks of money disappear in fees (and what I guess is a less-than-market exchange rate). I was looking at mtgox to see if less of my money would disappear in fees but given their fee structure, it looks like a bit of a wash. I was wondering if anyone had already done a proper analysis and could save me the bother.
Obviously, the transfer is into different currencies and GBP->BTC->USD seems like it definitely wouldn't be worth the bother but I'm thinking I might be willing to hold some BTC for a while and see if it doesn't become easier to spend them directly.
Thoughts?
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[snip]
Your need to classify those who don't agree with your position as mentally ill is very revealing. I could not find anything in his comment that could be interpreted as "if you disagree then you're crazy". It sounds like you're just shooting the messenger because you're annoyed about something he said, but instead of doing a rebuttal you just stuck words in his mouth. Shame on you for making me have to read through that slab of text again. I mean really, what kind of whiner is someone who complains about having to invest into a system that grants everyone including himself access to what he needs to survive? Of course it isn't great if it's like money being taken away and stuff, but seriously when it's invested into granting someone the privilege to survive by (exaggerated) lowering some number on a sheet of paper of computer screen and you don't then you must be a mentally ill person with most likely no friends There's another point where he seems to imply it also but due to the atrocious writing, I'll give you that one. |
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They still haven't sent out any sorts of rovers or exploratory satellites, which are my specific areas of interest, along with colonies. I'd be perfectly happy to work at a private company if they offered better pay and a comparative goals, as well as a doctorate program. I just like NASA better, because it isn't focused on a profit. Private space companies have to offer a revenue generating service as their primary concern. If there are companies that are research oriented, please give me a link and I'll look into them. I'm always open to new companies I can apply for an internship at.
Imagine how they might be doing if the economy hadn't been hideously burdened by an overgrown parasite which, besides spending a trivially small proportion of its income on mars rovers and whatnot, pissed most of it away on pointless crap. Don't miss the wood for the trees. |
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To Atlas:
Welcome to 'Merica. Besides, isn't this exactly what you advocate with AnaCap?
To Richy_T
Yeah, in an environment without any sort of federal government, no one would fund research groups like NASA. No one seems to grasp how essential it is that we move out into space. I feel like we're the one that won't move out of his parent's house. I also enjoy wearing hats.
Have you noticed that private space companies are doing most of the innovation right now and they have been more efficient than NASA? +1. One of the members of one of the boards I read is heavily involved in that stuff. It turns out that one of the biggest hurdles to private exploration of space is... wait for it... government. Whoda thunk it? Remind me which department was it that Wilbur and Orville were working for, again? |
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So until there is a satisfying solution for this, I predict we won't have libertarian/ancap "utopia".
You will never have a libertarian Utopia because libertarians are not Utopianists, that's just some Statist projection going on. |
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Pretty much. As long as my ivory tower has pork and beans, I'll keep shelling out my taxes. It's a waste of time to complain about the rain.
I wasn't actually replying to you. But if the hat fits... |
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Indeed, it is predicated on the right to a fair trial which has come to include the understanding that the accused should be able to have someone advocate for them. That the government provide that person is not required but it's probably one of the few things I don't mind them spending money on.
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[snip]
tl;dr version: Net beneficiary of taxes supports taxes. |
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its more convenient to pay taxes [...]
So other people should be coerced, with threat of force, to pay for your convenience. Gotcha. wow, why would you support force on people? I'm not the one advocating taxes. |
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You need a unique reference to run a business, the customer needs that reference as well. The best they could do is obfuscate it (with double SHA2?) or something, but why would makers of web-store software even care about that in a general case? Outside this fishbowl community attempting to decode order numbers is generally a futile exercise, so why expend the effort on the feature?
Yes, you do. But the rowid of the database is not the way to do it. A better way is to choose an arbitrarily large number space, choose a number from it randomly and check for uniqueness. There are other methods too. At the least, they should not be easily guessable. |
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I'm expecting a 20-30x difficulty rating, no meaningful increase in BTC/USD price, a halving of the block reward, and a ROI of around 6-8 months... Agree that people expecting to get all their $$$ back in a week are crazy but over the long term the BFL power consumption means it will continue to be paying for itself well into 2013.
Will
Are you counting the ROI from when you start mining or when you sent your money? |
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If you go through the order process and never fwd the bitcoins or payment the order number still goes up by 1.
Ohhhh, they should clean that up, lol. The customer should never see the order# (or at least the row number in the database). They understood this even back before computers were in common use http://en.wikipedia.org/wiki/German_tank_problem |
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If you believe in the future of Bitcoin, and also that a company can develop a full custom ASIC that will harden the security of bitcoin from government attack, then backing this endeavor just makes sense.
I believe that there are some investments that could legitimately return 10% in a month too. |
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All currencies are backed by the faith that you will be able to exchange it for goods and services of greater value (to you) than your own goods and/or services that you exchanged for it.
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[snip]
Your need to classify those who don't agree with your position as mentally ill is very revealing. |
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Gold also has an intrinsic value. You can use it to make jewelry or electronics.
I can make jewelry from macaroni too. |
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He WAS indeed talking about practicality and in his eyes these big coins were bad money as they would not flow easily through society.
It has nothing specific to do with theft, it applies to all uses of the currency.
IMO, these stones were not the currency, it was the knowledge of who owns them that is the currency. Not really much different than gold-backed notes (which do, indeed have their own issues). |
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I could be wrong, but I'm pretty sure OP meant an entirely new cryptocurrency (let's call it, 5coin) with a new block chain and everything, but one 5coin would always be equal to 5 bitcoins. If that is the case, it would very hard (pretty much impossible) to keep the two currencies in sync. Maybe if there was someone that had a shit ton of both currencies, and always traded 5 Bitcoin/5coin, but the chances of that are pretty slim too.
Ask Norman Lamont how trying to force a fixed exchange rate goes. I think I just heard George Soros chuckle. |
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In the same way a $5 bill is worth five $1 bills. What challenges would this present? Is this technically feasible? Would it help stabilize the currency? Discuss.
What is one bitcoin? If you convert have five one-bitcoins and you convert that to five bitcoins in a forest and there's nobody there to hear, does anybody care? |
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how, under the FairTax, would jimbob paying derrick from down the road to mow his law pay taxes? http://www.youtube.com/watch?v=QRpWir4eDrsor Ashikabob in Pakistanilandstan selling flutes for bitcoin get taxes from people buying them? How are either of those black market? And what's your point anyway? |
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