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If you believe deflation is a problem, answer this question: Would you rather work and be paid with a deflationary currency (gold / bitcoin), or inflationary currency (USD / zimbabwe dollars)?
Conclusion: We all want to spend money that is worth less and less each day, but this is only looking at half the story. We would rather work for a currency that appreciates in value. The more a currency is debased, the less work gets done. And isn't that exactly where the world is today? Flush with depreciating currencies which led to low productivity (high unemployment), declining GDP, etc.
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Coins are up ~25% since july 29. If coins are frozen, you have extra $$$ to get proper documents.
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If one *legally* had $200,000 in USD paper, how would such a person get it across national borders? Might be easiest to buy $200k in coins, move to the new country, then repurchase the USD.
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Bitcoin is going to crash to a couple dollars again a few time as the high rollers realise they are in competition to cash out first. Not cash out completely mind you, just so much to make them a few million in 'stable' money.
This. Assuming bitcoin ever does become a stable currency, it's going to take decades because all the big profit seekers will, at some point, feel compelled to sell their coins and take cash profit and, thus, more widely distribute their coins. I'm still holding to the prediction under the dancing bear. We'll see single digits plenty in the years to come. I completely agree with proudhon. I'm not buying any more bitcoins until this nonsense has calmed down. Speculation and get-rich-quickers are driving this rally. People already into bitcoin are just buying more of it, mindlessly. But what if it doesn't calm down until $80/btc after shooting to $150/btc? |
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I'll take SatoshiDice. All you need is to change the deposit addresses with a vanity 1dicexxx
That won't bring in much money. I suspect most SD players have the addresses saved already  agreed, but it would still be a hack. Some forum members would sell their mother's arm for 0.40 btc. |
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I'll take SatoshiDice. All you need is to change the deposit addresses with a vanity 1dicexxx
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Bitcoin needs a prediction market for these things. Information would get out and affect the market, alerting those who have accounts there.
Information such as you get your password in plaintext from a new exchange. Or could be that someone talks about how he is going to break into MtGox, etc.
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Hoarding hurts the individual, not bitcoin in general.
Imagine an individual owns 99,999 bitcoins. He can acquire the 100,000th coin for $9.40 right now easily. However, at what price can he sell his 100,000th coin? -- About $7.50. The more coins he owns, the harder it is to receive equal value when converting into goods (USD in this case).
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Cool!
Wish I kept better records. I think my 'salt' was an extra carriage return by mistake for my first few addresses.
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No, that is first few. Waiting for some confirms. 1 confirm on the withdraws. Still 20 bid for 13.45, but able to sleep now. |
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No, that is first few. Waiting for some confirms. |
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Sold a handful at $30-$32. Trying to deposit more. We'll see the results. I'll be a buyer at $15 tonight though if anyone is willing to jump into this....
  Sold at $30+, bought at ~$20. Withdrew, BTC in my wallet All confirmed?? Um... no. 2.18 of it to: 12JGzgb7ezdp5UT4EoJN3Spcn3P8fyyFav |
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Sold a handful at $30-$32. Trying to deposit more. We'll see the results. I'll be a buyer at $15 tonight though if anyone is willing to jump into this....
Sold at $30+, bought at ~$20. Withdrew, BTC in my wallet |
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Sold a handful at $30-$32. Trying to deposit more. We'll see the results. I'll be a buyer at $15 tonight though if anyone is willing to jump into this....
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I just deposited 20BTC to sell at these ridiculous prices. I think the strategy here is to deposit no more than you're willing to lose!
Good luck getting USD out of there.
Those who sold @ 40 now have $$$ and are going to want to buy a TON OF BTC now to get their money out of the exchange easier |
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Got to have a few btc spread around for the upcoming craziness.
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I have been committed to the promotion and introduction to other new bitcoiners at my site www.TTbit.com. I just happen to reply to the thread of the guy who owns TTBit.com? Am I being setup? |
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...Or just call it a stupid tax
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Idea: A DB of addresses that pooled funds such as MtGox can contact so they don't send to them. Lottery and SD addresses come to mind.
Actually, while I am opposed to "blacklists" and such, it would make sense for mtgox to give warning when paying to known satoshidice addresses to prevent issues like this. Also, mixers such as the one from blockchain.info could add to the DB after the address is deleted |
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Idea: A DB of addresses that pooled funds such as MtGox can contact so they don't send to them. Lottery and SD addresses come to mind.
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