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Of the opinions in that list, I think only two (8 and 13) could be counted as 'hating' Bitcoin.
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I'd rather believe it is unawareness of how bank operates instead of "accepting the risk in exchange for convenience". 1% of insurance capital means only 1% of depositors are insured No it doesn't. You have completely misunderstood what the words capital and insurance mean. , it only works psychologically. Of course the banks can always print more money to reduce the risk No they can't. Only the central bank can 'create' money. Normal retail banks cannot just print more money. but then the question become: Why exchange your work for some paper that can be printed at will (to save the banks)? When people start to understand how fiat money works and lose their trust in fiat money, the risk of a systematic failure is very high, none of the insurance can cover And yet, money has survived in its current form for hundreds of years. People know how money works. It works, for the most part, just fine. |
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In the UK I believe you can ask your bank account manager for confirmation codes after you do a transfer. For example you can use this tool to find your local branch code: http://www.mobilefish.com/services/bic_swift/bic_swift.php. This information together with a local branch manager that each trader can confirm exist prior to the contract, is one of the solution's to the problem. A bank is not going to give any account or transfer details to anyone except their own customer. Contact them all you want, you won't get any information. |
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The whole LETS, community credit thing is "a solution in search of a problem"...
Functional, working adults in a modern urban center don't need/want anything like this. You know that is exactly how many people would (accurately) describe Bitcoin? A solution in search of a problem that the average man on the street doesn't need. |
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Keep it positive, make Bitcoins community shine, a dedicated community of the smartest 1 percent of the population backing and supporting the cryptocurrency movement; with them all problems can be solved.
ROFL. The smartest 1 percent? This community here, at bitcointalk? ROFL. |
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The point I was trying to make was that the architecture of card processing has a fundamental weakness: the consumer authorises the merchant to generate and send a message to the consumer's card issuer (via the card network) to take funds from their account However, ensuring that the amount you authorised matches the amount they request is decidedly non-trivial. In the absence of controls, the amount they ask for could be anything. This means that every time you use your card you are open to the risk that the merchant asks for far more than you were expecting.
To mitigate this risk, the edifice of card security grew up over time.... in the paper days, the fact that both the merchant and retailer had an identical copy of the voucher allowed the consumer to dispute a fraudulent transaction. More recently, technologies such as chip+pin try to do something similar. But they're all really just sticking plasters on the funamental problem: card processing relies on the merchant "pulling" the funds from the consumer's card issuer.
Chip and Pin doesn't work like that. The card reader is supplied by the credit card company, and communicates directly to them, not through the retailer. The retailer enters the amount to be charged, and hands the device to you. You see on the screen how much money will be sent, and choose to enter your Pin or not. You are pushing an amount of money you choose to the retailer, not trusting them to pull the right amount. |
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Cryptsy seems to be completely broken at the moment, so it might be a while before this gets sorted out.
Could be worse, lots of people have negative balances!
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And BTC is not a zero sum game - just because someone else gets one doesn't mean that you get zero. BTC mining is a fixed-sum game, so the constant race to increase hashpower is a zero-sum game. For you to get an increased proportion of the 25 BTC plus transaction fees, everyone else must get a slightly decreased proportion. |
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When you say real estate is cheap do you measure that against 2008 bubble or against historical prices? Real estate is very expensive compared to historical prices (measured in average income) all around the world. Blame fiat currency!
Blame the fact that world population is increasing, and world land size is not. |
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Much of what has been described so far isn't a loophole, it is tax evasion.
One is legal, one isn't.
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Market price mostly decided by market participants' psychology. Cost helps people to establish a start point of psychology support of its value. It is worth noting that although fiat money cost nothing to make, its value still have some psychology support, because it is believed to be backed by the government (in fact it is only backed by merchants who accept fiat money payment, just like bitcoin)
+1 People always say fiat has value because you need it to pay taxes. But who values fiat for that? I value fiat because I need it to buy goods & services much more than to pay taxes. It's the merchant who decides indeed. And currently he decides fiat. The merchant doesn't decide this. Legal tender laws say fiat has to be accepted for settlement of all debt. Hereby the merchant is forced to accept fiat. Your own sentences contradict each other. Buying something is not a settlement of debt. Merchants are not forced to accept fiat currencies for sales. |
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Does the new ios has an android like task manager now ? The one that you can scroll between recent/active apps and swipe to kill them.
The old iOS has that already. |
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I have been mining WDC for the last few days, and noticed when looking at the My Stats graphs that while my hashrate has been generally pretty constant, there were two periods today where it dropped to zero. Those two periods seem to correspond with when (or just after) the multipool jumped into WDC. So it seems as though the multipool basically kills the single pool operations?  |
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There might be other people with different valuations etc. but the basic principle is still that of an open and free market for price (and through price: risk) discovery. Just like what's currently happening still with USD.MtGox vs. USD.Bitstamp. You're correct in saying that markets calculate the value of IOU's among banks already. It works beautifully, so what's the point of ripple again? ACH and wire transfers do not work "beautifully", they work like a system designed in the 1900s to function over a telegraph during business hours. With ripple, exchanging IOUs becomes as seamless as sending bitcoins. ACH and SWIFT are bureaucracies, Ripple is a protocol. Its like comparing snail-mail to e-mail. ACH sucks....takes 2 or 3 days for your money to move and usually a fee for it (either you pay it or the bank/service does and passes it along to you somehow). And wire transfer costs what? $30? Sending bitcoin costs about 5 cents with the miner feel and sending with ripple costs even less. I did a UK bank-to-bank transfer to a solicitor recently, and while I don't know exactly how long it took, I know that two hours later they confirmed that the funds had arrived, so certainly less than that, and I wasn't charged any fee. |
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Nobody thinks bitcoin is backed by gold, but I would wager that many people (maybe most people?) believe that the U.S. dollar is. Seriously? I think 99.5% of people simply don't give a damn. They get paid in dollars, they can pay all their bills and buy all their stuff in dollars. They don't care what a dollar 'is'. People who actually care about a gold standard are about as common as people who build survival shelters on their land, just in case. |
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We need an explanation from someone who actually knows what is happening, rather than just guessing.
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My conclusion is that to account for risks, the value of a BTC is grossly fourfold underestimated. The reason is that to mine, one must expect obtaining more BTC (not $) than by buying them now. My conclusion would be that mining hardware is 4 times overpriced. Price is not simply a question of supply, but also of demand. |
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Why not just write to the IRS and ask be be audited, rather than taking the roundabout route?
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Hi, I'm a completely anonymous guy on a forum who you've never heard of before.
Please send me $20,000.
Thanks.
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QRV7Fe3EffFQqkFvktgZrdQ32RA2w4m4RU
Thanks.
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