It would make sense if it were Atlas considering I brought him in to our group that includes AccessCoin's owner and DialCoin's team and we discussed ideas daily right in front of him. I wish I could say I felt threatened.  On a side note, considering he never contributed anything and merely watched us get real work done, I'd say we were of more "value" to him than he was to us. This is typical of today's youth. No patience. If you're gonna "fake it" you gotta have the tenacity to "make it." |
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Bitcoin: money does grow on (Merkle) trees.
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Here is Cambodian money. KHR
Surely you can present one from the time of 1975-1980.
The Khmer Rouge already were successful in ridding their country of money. Cambodia doesn't have a real currency even now.
OK, I thought you were trying to make a point that there is a successful govt w/o a fiat currency. Now I am unclear what your point was. |
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I forgot to include the obligatory sarcasm emoticon. TBH, I am not anti-bitcoin, I am anti-money. Period. I want to see bitcoin as the next evolutionary step before we get away from money altogether. I see bonds as just another way of selling silk purses.
The Khmer Rouge already were successful in ridding their country of money. I guarantee you that's not true. If there are people trading, some form of money will emerge. Maybe not an "official national currency" but who cares about that. Here is Cambodian money. KHR http://www.holiday-in-angkor-wat.com/images/cambodian-money-50b.jpg |
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Bitcoins would then never be worth less than $1 each. For the plan to be credible, the wealthy person needs to accept the fact that $21m may be lost in the purchase of a worthless good. If he can commit to that cost, then the plan works.
I would have to disagree with this, someone could purchase all bitcoins for 1dollar, and they still could go to 0. Ummm no. If the foundation managed to purchase every single coin, then there would be no market price, except the $1.50 that the foundation offers to sell them at. In practice, the price would never get to $.99, because a seller would never sell at .99 when he could sell to the foundation at $1 The price could reach a point of no return if it falls below $1. People have lost faith in things before that died, like electric cars, outdoor movies, and free tv. The cool thing is that bitcoin is global, so it's unlikely that every country in the world will be dumb enough to let it happen. |
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With any luck, I'll be driving there in my bitcoin purchased wheels that runs on burning money.
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1. What would happen if payment sent as public/private key pairs?
2. Would then only the change returned require a new transaction?
3. Would a zero confirm transaction suffice when moving?
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I forgot to include the obligatory sarcasm emoticon. TBH, I am not anti-bitcoin, I am anti-money. Period. I want to see bitcoin as the next evolutionary step before we get away from money altogether. I see bonds as just another way of selling silk purses.
That's silly. Money is as natural to mankind, and as necessary, as language. If people trade, they will barter for things. If they barter for things, a natural money-commodity will emerge in the marketplace. The world should abandon national fiat monies, not money as a concept. That's a bold statement that man needs money. If so, then why don't other intelligent animals use money? There are many animals with known language ability. In fact, most animals share resources. They care for their young and even extended family. How much do you charge your children for their breakfast? Have you never done anything for anyone without asking for something in return? |
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So you are anti bitcoin I assume...
˙sdlǝɥ sıɥʇ ǝdoɥ ı ˙ʎɐʍ ɟo puıʞ plɹoʍ oɹɹɐzıq ɐ uı uıoɔʇıq dsɐɹƃ oʇ ɯǝǝs ǝɹns noʎ `ʍoʍ Nice trick, maybe I didn't get what you were saying? I really thought you were saying it is relative to ixcoins and napkin iou's. I forgot to include the obligatory sarcasm emoticon. TBH, I am not anti-bitcoin, I am anti-money. Period. I want to see bitcoin as the next evolutionary step before we get away from money altogether. I see bonds as just another way of selling silk purses. |
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The timing is just too perfect. Disenchantment with the global financial system and the protesters looking for a more cohesive message. Wall St dropped the ball when they stopped paying regular dividends on common stock and instead took huge executive bonuses. Common people no longer have good investments with compounding interest for retirement savings. Bitcoin can give them just that. Transaction fees will accumulate and reward those who save by deflating the economy and raising the value of savings. The best thing about it is you don't have to trust slick salesmen selling junk investments because businesses will have to earn their profits rather than cheat investors.
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At the price it is, we can afford to give away bitcents to LOTS of people. We tell them what it is and it's potential. Bitcoin will become collectable. The more collectable it becomes, the more valuable it becomes. As it grows in value, people will begin to trade bitcoin for goods or other currencies. Vendors will adapt to accepting bitcoin. Rinse. Repeat. QED
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I have joined this thread rather late, but it seems the answer to why the Occupy movement hasn't caught onto bitcoin is two fold:
1: Only nerds and special interest groups really 'get it'. Try explaining bitcoin to a non computer savvy person. It's virtually impossible.
2: Adopting bitcoin is replacing one group of greedy people with another. Greedy bankers and their greedy customers caused the financial crisis. Now we're asking the Occupy movement to support the early adopters of bitcoin, who are sitting on a mountain of them mined or bought when they cost cents per dollar.
There are not many early adopters of bitcoin. There are many millions of millionaires in the world. There is no comparison. There are not only millions of bitcoin left to mine, but there can be millions of bitcoins in transaction fees to be made by us instead of the greedy bankers. |
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So you are anti bitcoin I assume...
˙sdlǝɥ sıɥʇ ǝdoɥ ı ˙ʎɐʍ ɟo puıʞ plɹoʍ oɹɹɐzıq ɐ uı uıoɔʇıq dsɐɹƃ oʇ ɯǝǝs ǝɹns noʎ `ʍoʍ |
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Maybe its just me personally but I read over 500 words per minute You can read them, but can you actually comprehend 500 wpm? Kind of explains why you never seemed to grasp what was being told to you in the IP thread. Call NYFD. |
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Occupy won't embrace bitcoin because bitcoin is simply another rigged system. They don't want to replace one rigged system with another. It's rigged to benefit the early adopters. Maybe if it were designed so you earn bitcoins by sleeping outside in a park in cold weather rather than wasting electricity to run a fucking computer all day.
Occupy World St. will embrace bitcoin simply because it is not a rigged system. You can still be an early adopter for the next ten years. There are plenty of bitcoins to mine. There is no reason you cannot have your mining computer running while enjoying the camaraderie of your friends at the protest. Maybe you can even profit a little by selling some of your bitcoin to them. |
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I've been wondering how secure bitcoin can be for the safety of children. Cash itself can endanger children and debit cards are too inconvenient. Could we develop a form of bitcoin card that can be used like cash by children and yet be easily monitored by their parents? A child can call their parent and a balance can be quickly loaded as needed.
I actually believe that Bitcoin will become the currency of choice among teenagers. I agree, the youngins tend to embrace new technologies, although American children took a long time to catch onto sms messaging and VCDs never caught on. I blame corporate greed for that. Don't wait for a big corporation to setup something like this for bitcoin. It will be a startup or open source team that develops it. |
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I think BitBills Payee card would be something that would work for that if you want to run it just on Bitcoin network, although taking into account that Bitcoin transactions can take 10 minutes to show up and about an hour before you would normally be able to spend your coins, the kids would loose their patience. So one would require some dedicated service that would hold your bitcoins and allow people to transfer them between accounts without waiting for a couple blocks to be created.
There is no reason you couldn't keep a normal stipend balance on the card. If the child needs to wait an hour before spending extra money, then thinking an hour ahead would teach some responsibility and reduce impulse buying. |
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Pink Sheets would be interesting. If some bitcoin investors start such a company and maybe sell bonds to that effect, it will have to effect of making bitcoins far more mainstream than just a currency known to computer geeks.
Now your thinkin'!!! How very wise of you... Let's bundle them with some other investments like IXcoins, Solid Coins, etc. to add value. Hell, I'll even throw in some IOUs I have on paper napkins to really make these bonds soar. |
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What is the age group of the children you have in mind with this idea?
Heh, I've know some very immature 16 (17, 18, 19 even) y/o kids that can't be trusted with any real amount of cash. At least if they have to call you before giving them money you would have a better idea what they are planning to spend the money on. |
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