Not sure why UK isn't getting a mention. There's a reason so many Russians, Arabs, Chinese and others invest here, its solid country.
The UK is ok for property rights (assuming you don't count money as property). It doesn't do well in more general freedom indicies due to it's mammoth government (high taxes and regulation abound). |
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Can I pay California state taxes in Bitcoin now?
lol not yet from what i know but i think that might change in the near future  "Legal tender" means that it can be used to pay all debts (including taxes). I'm guessing that the article title is just wrong. |
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Having thought about it we can say that the cat is out of the bag - or rather, its not a case of if BTC anonymity becomes ubiquitous but when. I know that Unsystem and the Dark Wallet project have ideological reasons for believing this to be a desirable outcome - and it has been stated on this thread that for BTC to be fungible it has necessarily to be anonymous- but I ask again, is not this anonymity going to work against the average citizen, all things being equal ? Governments are struggling enough as it is to raise tax revenue from the likes of Amazon and Google - they won't stand any chance with BTC (once it inevitably is able to be transacted anonymously) Say I earn 30BTC per annum - OK, I may wish to give some of that via donations to Wikileaks, maybe even Unsystem.net, and so I may benefit in some way from my financial transactions being hidden (though in my case we'd only be talking about a few satoshi's anyway in truth  ) And then compare my predicament to (lets say) Richard Branson (who apparently thinks BTC is great) - his annual gross income is what ? 30000BTC ? I'm not paying any tax on my 30BTC anyway - but Mr Branson is paying (possibly) 50% on anything over 45BTC on his personal income - and the profits of Virgin PLC are liable to Corporation tax at 30%ish. Traditional profit and loss accounts will not be worth the paper they are written on (they aren't worth too much today, lets face it). Would it therefore be Schedule E (taxed at source) employee taxation that would bare the brunt (relatively) of the tax burden ? I ask again - who will anonymity truly benefit ? So long as Bitcoin remains decentralised, it can only really apply pressure toward achieving a level playing field. If it does work against the average citizen, it will be because the average citizen is currently enjoying an unfair advantage over some minority. If Bitcoin were to significantly affect taxation (a huge if), it would benefit those that currently pay high taxes, and disadvantage those that receive benefits*. *Taxation is a drag on the economy. A good case can be made that those who would be immediately disadvantaged by reduced taxation will benefit on net over a sufficiently long period of time. |
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Definitely Cryptogenic Bullion because its got PoS (proof of stake) so your investment will gain interest.
Sure, you receive up to 1.5% interest just for holding the coins, but there is 2% perpetual inflation, resulting in an effective 0.5% demurrage. |
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I have 1300 USD and would like to buy some more coins to hold. What do you suggest I buy?
Gold. |
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True, but one would expect at least ThePirateBay to be using NMC to register a .bit domain. The development of this Plug-in is an excellent development; however I must say that the demand for the NMC project is to a large degree driven by the MPAA getting some variant of SOPA through the US Congress. If the MPAA fails as they did in 2012 then interest in the NMC project will drop.
Agreed, but I don't feel that's such a bad thing. Distributed dictionaries are far too cool to disappear completely and, as a result, people are now much better prepared to react to future attacks on DNS. We are the libertarian-borg. We will share information. Oppression is futile. |
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If there is one site that could make use of this it is: http://thepiratebay.se/. Ironically they accept BTC and LTC but not NMC! If ThePirateBay does not go for NMC, who will? Why would anybody need to accept namecoins? Namecoin's success depends on people wanting to store public key-value pairs in its distributed dictionary, not from people using it as a medium of exchange. Adoption of this plugin increases the visibility of the dictionary which will cause more people to want to store references in it. |
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I spent it all on pizza long ago: https://blockchain.info/address/1XPTgDRhN8RFnzniWCddobD9iKZatrvH43-4 years ago there were less than 100 people frequenting this forum, and I was pretty happy to trade 10,000 coins for pizza. I mean people can say I'm stupid, but it was a great deal at the time. I don't think anyone could have known it would take off like this.  Laszlo I'm glad to hear that your critics have not worn you down. |
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Normand suggests that bitcoin is “vastly inferior to fiat currencies” on several counts
... including: - Inability to distinguish counterfeiting from official counterfeiting;
- Inability to distinguish theft from official theft;
- Inability to distinguish money laundering from official money laundering.
The principle problem with Bitcoin is that there is only one level to the playing field. |
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People need to feel confident in the technology that its secure and safe to use: as much as the dev's notion was correct that flaws such as transaction malleability were not immediately dangerous, the fact that it eventually directly affected people with assets frozen on the exchanges and indirectly affected all BTC users by lowering its value should be sobering.
It is sobering, and that's good. The problem was with the market getting drunk on hype in the first place. If you want to donate to a developer then you have my gratitude. |
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Ummm. Good? WTF, are we supposed to feel sorry for criminals having their bitcoins stolen or are we supposed to worry about the bad security of a criminal enterprise? Good, steal them all....
How sad. To have such severe sociopathy that one relies exclusively on law for a moral compass. Even Pinocchio fared better and he was made of wood and had a cricket for a conscience. To me, feeling sorry for others is a question of compassion, not policital correctness. For example, I feel sorry for you. |
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Ah well, fair enough. At least they admitted to considering it. It's a shame none of the eight staff members (selected for the pilot program) decided to play with it. |
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Yeah, that derivatives bubble is just incredible, I could hardly believe the numbers. It was actually the only time I had ever seen the word "quadrillion" in use...
It's too bad Bitcoin can't get into the derivatives market. It Bitcoin market cap ever got to one quadrillion... *drool* Unfortunately, nobody can be stopped from giving out an option or other derivatives on BTC. If BTC is successful enough, the derivatives will come... They're already here for the well-connected. I have some Bitcoin derivatives with my personal broker Mr. Zhou. Thanks to high leverage these make up the bulk of my savings. I've also got a lot of Martian real estate and some Mt.Gox shares. |
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Certainly the price has fallen due to FUD. Certainly, Bitcoin is a better deal today than it was a few days ago (fundamentals, awareness, regulator perceptions haven't changed). But it's a stretch to suggest that this constitutes a buying opportunity.
Bitcoin was heavily overpriced. For FUD to have this kind of effect suggests many holders that don't know what they're holding. I still think we're heading down in the short term.
Oh yes, and props to Kraken for being robust to the transaction malleability attack ahead of time. You deserve to pick up some new users from this event.
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Wow! I didn't see this coming at all. This is major news as far as I'm concerned. I hope they get the green light from their regulators. |
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So what can the Bitcoin community do to entertain the general public as much as Dogecoin is?
Do we need an animal mascot?
I think we both know the answer to that. |
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Bitcoin is already regulated. By the software.
Yes, I didn't want to dwell on this point as it was clear that raskul was referring to state regulation. I want proper regulation of bitcoin as a global currency.
...
I see it as the best and most effficient way to make payments for services rendered. Bitcoin isn't yet an official currency, but damn, i'd like it to be.
I want your home. I see it as a nice place for me to live. It isn't officially mine yet, but damn, I'd like it to be. |
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That was a fun read: nostalgic, highly recommended. Here are some highlights: The labour theory of value: "The value in them is that it becomes increasingly more difficult to create them until you reach the limit of 21 million bitcoins... that's the value," says Dr. Wettstein.
Chinese whispers: The first purchase ever using bitcoins was for a pizza. One guy gave another guy "x" amount of bitcoins to buy him a tasty delivery. So many coins were used for the transaction today that pizza would be valued at 750 thousand dollars!
Note: the trade was 2 pizzas for 10000 BTC (at 750 USD/BTC, that's 3.75 million USD per pizza).Speculation on recent market movements: That NDSU professor who contributed to this piece, Greg Wettstein, actually predicted that hackers were already trying to figure out how to get to miners digital wallets to take their bounty. And that might be part of the reason for the massive drop in Bitcoins value which occurred today.
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well sorry to have to disappoint you, it's going to happen, we may as well embrace it express how we really feel about it.
FTFY |
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As for regulation, the bitcoin community have been screaming out for some proper regulation for a long time, and myself, being invested in bitcoin, would welcome any suggestion to how bitcoin can be regulated and welcomed as a global currency.
This is just wrong. The people writing and enacting the regulations will be the big exchanges and know-nothing bureaucrats. Regulation will just be used as a tool for Mt.Gox and people with the understanding of the journalists to kill off the competition of smaller, better exchanges such as your beloved Kraken. Much of the community understands this, and I for one would be happier to see fewer intelligent but cluelessly naive individuals such as yourself screaming out for regulation. |
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