One of the biggest reasons that Bitcoin is so popular, particularly amongst people calling themselves Anarchists and Libertarians is it allows for trade without borders, this means money can be sent to and from a place without government approval for a very cheap cost ( I take issue with the people who claim it's free, it's always $0.01 or so otherwise miners wouldn't make any money ) it also follows a strict logic of having only 21 million coins ever in circulation which means that no one should ever be able to hyperinflate the currency.
Part of the reason that everyone 'thinks' Bitcoin isn't needed is because they haven't felt the effects of a depression yet, but just wait, when the next stock market crash happens people will be running for the hills and won't give a shit about what Bitcoin is anymore because it will look dramatically stable compared to paper money.
Depressions are deflationary, aka one should expect the USD to go up in value during a deflation. What you need to think about is "what is a Bitcoin worth regardless of it's exchange value into USD?" |
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by uploading bytes of a single 1mb image, yes just one...for instance a HD desktop background. that single file will fill the block and stop proper 'value' transactions. by just uploading hyperlinks to file locations will still bloat each block but to a much lesser extent. but then you are just bloating the blockchain with data that after a couple years may have been taken off the server you linked. bitcoin is to be around for atleast 100 years. stop thinking of silly uses that only are temporary gimmicks that have no usefulness in 20, 50, 100 years Just no more data injection attempts into the main chain please  . +1 To be totally honest, I can't think of a use much better use of Bitcoin then recording the Bill of Rights in an unalterable form for all of posterity. Certainly not for recording my Xbox transactions. |
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is it a blockchain.info wallet? if so could blockchain confiscate it and give it back to bitstamp?
Hopefully for sanity's sake, it is not and the are doing Bitcoin the hard way. It is an interesting question though if the Bitcoin core team could develop a "Banned list" that is issued to the accepting nodes and refuses to transfer coins from banned accounts though. |
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I have added a voting option for sidechains!
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Also, what documents or images would you like to see preserved forever in Bitcoin, and why? Clearly my vote is for the Bill of Rights, because it is the greatest anti-government piece of legislation put to words so far.
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This is the type of thread that puts people off of Bitcoin.
I love how you think that you can speak for "people"  Living in a cushy western country kind of skews your opinion of what is important in the world, don't it?  Let's stop talking about war and government corruption, that "puts people off" - let's just keep talking about greed and money and speculation and the bitcoin cult  Bitcoin is not independent of the world in which it was conceived.The internet is everywhere, computers are everywhere, smartphones are everywhere, food-clothing-shelter is everywhere. One of the points of technology like Bitcoin is that it changes everyone's life, worldwide, in a rapid and apolitical manner. Political power is based on 1. distribution of wealth 2. tugging at the nostalgic heartstrings 3. threats Technology wipes out all three of these factors since it provides a bounty to all that none could have imagined even a few decades earlier, it wipes away the past as a completely outdated world that only the old remember at all, and it continuously shakes up threatening technology such that it is next to impossible to be a continuously menacing power for more then a few decades. Politics and conspiracies are the rotting remains of a past on the verge of erasure, while technology is part of the world to come. Which subject is more relevant to the life of you and your children? |
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This is the type of thread that puts people off of Bitcoin.
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It may be Russians trying to avoid a war induced economic collapse. Russian stocks are down 10%+ today and their currency is plummeting. Ukrainians have had months of uncertainty in which to buy BTC, but for the Russians this weekend has been a new, sudden, and scary event.
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Wow, so far the results are three bulls for every one bear. It looks like even with MtGox the majority opinion is a positive one.
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Hi everyone, there have been several Bitcoin beliefs swimming around the forums lately, so lets take a poll to see what those beliefs are. Also, if you have a belief different to the ones above, post em.
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Actually, this brings up a good question. We know that Gox is short of BTC, but are they missing fiat as well, and if so how do they explain it?
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I think that the report is probably fake, but also that they are probably much less then 50% solvent. For them to have to shut down fiat and btc withdrawals their solvency must have been running on vapors.
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No? It turns out that one of the most entrenched and well known Bitcoin vendors was a large fraud, casting the doubt of "ponzi" on all of Bitcoin as a whole. Most people didn't know that MtGox was a problem, and now they will hear in the media that "bitcoin==fraud". Why would it go up?
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Not to be mean, but this announcement is a total ruse, and contains numerous points that have no relevance to solving their "tx malleability issues". Monthly limits? Reducing withdrawals based on market based conditions? The "incredible strain" of re-indexing millions of transactions for some reason (takes a few hours or so at most)? Not even touching the issue of halted USD, EUR, and JPY withdrawals? Basically, all this announcement said is that they are working really hard on "stuff", and they hope that you enjoy their next announcement in a few days. This reminds me of 2008 all over again, and y'all are getting robbed  |
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People discouraged me from initiating a transfer of $10,000+ into Gox via international wire when the price started tanking over there.
I am hoping that wasn't a huge mistake (to listen to them).
Down, down the price goes. Anyone who has succeeded in getting USD funds *into* Gox is reaping the benefits handsomely right now.
Anyone pull the trigger and waiting to see if it "becomes available" in their account?
-B-
Is this a joke, or are you so indifferent to loss as to throw what is for most people two-three months wages into what has become a black hole of funds, and to what is in all rationality a complete black hole/ponzi fraud finance scheme? it all depends on how much money you are confortable to burn. kanye west could easily dump a few $100k to it I guess, might be the OP uses $100 notes to warm up the house, you never know. The max I would personally risk is $200-$300, not because I dont have more to burn, but emotinally I already crossed the line when I trust gox will come back / start trading and the quite a few btcs on my account will be accessible at any point in the future. That's true of course, but from a morality perspective it is pretty atrocious to throw away money like that even if you are loaded. It is basically the same as inviting the town over to watch you throw hundred dollar bills into a bonfire on your front lawn. It's within your rights, and in a sense you are only harming yourself, but it is still a despicable act and only proves to the world that you possess a whole bunch of solely negative attributes. |
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People discouraged me from initiating a transfer of $10,000+ into Gox via international wire when the price started tanking over there.
I am hoping that wasn't a huge mistake (to listen to them).
Down, down the price goes. Anyone who has succeeded in getting USD funds *into* Gox is reaping the benefits handsomely right now.
Anyone pull the trigger and waiting to see if it "becomes available" in their account?
-B-
Is this a joke, or are you so indifferent to loss as to throw what is for most people two-three months wages into what has become a black hole of funds, and to what is in all rationality a complete black hole/ponzi fraud finance scheme? |
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If you have any sizeable amount on mtgox, the appropriate time for legal action was like a month ago when btc withdrawals started konking out, if not earlier. Now is as good a time as any though, I suppose.
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Is it safe to say that if we assume that MtGox and the other exchanges are facing the same issue, if Bitstamp is able to fix the problem in their designated time frame (24-72 hours) and resume withdrawals, MtGox will be able to do the same?
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