Over two billion people lack a proper toilet to take a dump into every day. An electronic P2P currency requiring a computer equal to their yearly wage in cost is probably far from their immediate concerns.
So stop giving all the money to middle-men and start paying people to be productive. Eliminating the failing bank system is a good start. |
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I just read the beginning of this thread back from April. I think it very well illustrates an example of the phase of "unrealistic expectations" we've been hearing about lately.
It's all based on science. No belief necessary. The problem with science though, is that it takes hard work to achieve. |
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Someone put this thing together and made a killing - probably far more than they had hoped... However, unlike real Ponzi schemes, Bitcoin actually does useful things
That's pretty much how I feel about MS and Apple. |
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I dream that someone finds a compelling use for bitcoins beyond the Silk Road. There are none yet.
Actually there is. But people do not comprehend it. yet... Secret hint: Look on what people in the 3rd world are currently lacking and how this can be changed. apply worldwide. Lobbyists? |
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This could even become an automated 'notary' service. I'm sure this has been discussed before.
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Blessings to Casascius  |
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Remember the business idea that got Bruce in so much trouble? It really wasn't a bad idea, just poorly executed. Forget his foibles and fetishes, he isn't dumb.
Which one? The mortgage one. I don't think he intended to scam anyone and it worked for a lot of people. Can you name even one person it worked for? He couldn't when the judge asked him to, hence why he was found guilty of fraud. Didn't he plead the 5th? That's not admitting or denying anything. Anyway, he was setting people up with land contracts. These days, banks aren't loaning money for small houses and land contracts could benefit from cryptocurrency technology. |
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Remember the business idea that got Bruce in so much trouble? It really wasn't a bad idea, just poorly executed. Forget his foibles and fetishes, he isn't dumb.
Which one? The mortgage one. I don't think he intended to scam anyone and it worked for a lot of people. |
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Remember the business idea that got Bruce in so much trouble? It really wasn't a bad idea, just poorly executed. Forget his foibles and fetishes, he isn't dumb.
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i leave 4 separate clients open and i don't even mine. i do it for philosophical reasons to "help" the network. doesn't cost me anything.
Everything costs something! If bitcoin becomes fully fledged monetary system things like enthusiasm, altruism, philanthropy and philosophy will not be enough to secure its future! After all, it is about money! All tricks will be used both technically and economically to game the system and abuse it. Every expense that is possible to avoid paying will not be paid by participating agents in the network! There is no doubt about that... The big question here is whether all those avoidable expenses are fundamental incentives to keep bicoin network running? I don't think of the Bitcoin client as simply a way to spend Bitcoin, even though that's about all it is at the moment. I think of my computers as machines for (sometimes monkey) business. If you want a productive business, you find ways to keep your machinery running 24/7. I think that will be the goal of software designers to craft tools using Bitcoin to stay on making money. I'm not talking about mining, but real world businesses that will depend on a robust Bitcoin network. [edit] I wouldn't be surprised if M$, Google, Facebook, Mozilla, Apple, (pardon my bias) etc. doesn't have NDAs regarding major development for BTC based apps. I can't imagine big ballers not creating Open Transaction servers, microtransactions, anti-spam postage based email, deed of title apps, escrow based courier services, and probably hundreds of other unique products and services that take advantage of Bitcoin's unique properties. |
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Something like a reset may happen soon. The average US wage is about $25K and the average credit card debt is $15k. Meanwhile jobs are continuing to disappear. People say that Bitcoin cannot keep up with the massive VISA network, but what if bankruptcy becomes common and people turn to other types of money and credit besides the banks? Can VISA sustain massive bankruptcies as people try to keep from losing their homes?
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Greetings all,
Hope you've all had a long wonderful day in the mines, or markets and are ready to sit back relax and potentially make millions of dollars.
What I am proposing is that we set up a website and service which also has a physical magnetically charged card. When someone uses the card it takes funds from an account(which can be automatically funded from Dwolla or the like) that they hold with us, buys bitcoins, transfers those bitcoins to the recipient's account and then sells them back instantly converting them into dollars again. And for this service we undercut the credit card companies for providing the exact same service, and charge only 1.618% instead of the industry average of 3%.
With merchants being able to receive funds in less than an hour and also pay less of a fee, it could catch on big and be pushed on customers by businesses who want to save some bucks.
-KBundy
Atlas? Can be no other. |
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I am sure that one day drugs will be developed that replace our need for sleep. Then we will compete with each other for the right to work 16 hour days for half the wage rate.
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I've generated a large number of bitcoin addresses and private keys - I can receive money at the bitcoin addresses easily enough, but what's the easiest way to spend that money?
Basically, I've just got the 58 character private keys - what software can I easily import that into to aggregate the funds? What's the easiest way to do that? Thanks!
I've been doing this myself. The only way I know is to import into MtGox with the website (not the app). I sure would like a smartphone app to do this. |
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Update: I printed a couple dozen 100K Satoshi notes. They are simply bitaddress.org printouts as small strips of paper. I added 0.01 BTC value to each and folded them in half with a staple. On the other side it says the value 100K Satoshis and the www.bitcoin.org website on the reverse. I am just handing them out to people I know and anyone that seems interested. Hopefully this "physical bitcoin faucet" idea will garner interest. It takes a little time to make them by hand, but doesn't cost hardly anything. I tell them to hold onto them someplace safe and "someday when [they] know what they are they may be valuable." It's a good conversation starter. |
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It's quiet... *too* quiet!
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In the short term, a country could mine the most or all of the coins and distribute a deflationary cryptocurrency to their citizens in exchange for fiat. They would release the code so that anyone supporting their network would be paid transactions fees in their currency. I would hate to be the first country to do this for fear of a 51% attack on a fledgling cryptocurrency. However, this could become a political boon for alliances with strong countries willing to support them in case of attack. The rules of global finance can be rewritten to take away power from international banksters and put the power in the hands of the people wishing to support their national interests.
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then exchanges would be used for trading, but not leveraged speculation and HST. What makes you think that? The money would be concentrated into a handful of exchanges and nothing would change. The external price discovery would be mostly ignored. Who cares if the external price says BTC is $2.25. If you are a merchant and the current ask on Mt. Gox is $2.18 then for all intents and purposes that matter the price is $2.18. Period. It's a psychological thing. Having a price set by mathematics gives people a sense of stability. It's like why people don't wildly speculate on fiat money. Math can give bitcoin the sense of fiat (law), only it's the laws of mathematics. Of course there will be fluctuation just as there is with all fiat currencies, but it will be mitigated. This whole Bitcoin phenomena is an experiment, I just think this may be a helpful tool. I just don't trust centralized exchanges because HSTs and bots can have such profound psychological effects on people that cause them to panic buy and sell. |
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