I have sold two things on BitMit at a fixed price.

I sold a pair of socks for 1 BTC and a pair of boots for 14 BTC.

Maybe now people will use the money they were using to buy/sell to just buy and use Bitcoin as a currency.

I clicked on that link and got hacked.

Thanks a lot dude.

I thought the verification process has been standard for a long time.

I had to go through it last summer to pull some money out.

What if someone uses a credit card to import some expensive bottles of wine for their wine collection and someone else holds onto a few bitcoin until the value is high enough to where they can buy a car for commuting to work?

Buying a car now or buying a car in a year will eventually even out as far as the economy is concerned. The fact is, not everyone is switching over from fiat to bitcoin all at once, so the guy who may have purchased something with a credit card now will instead buy that same thing in a year with bitcoin.

The key is, the credit card company will not get 17% of the value of the purchase just for making the purchase more convenient. 17% worth of productivity spent on some people working in an office moving numbers that could otherwise be adding to the economy in a more productive way.


This thread is to highlight the argument by keynsians that if you have a deflationary currency, you would never spend it because if you spend it, you lose on the gain in value you could have had from holding it. The same thing with compound interest (as Einstein said, the greatest force in nature is compound interest). The argument falls flat on its face if your savings is paying out 4% and there is only 1% inflation. Why spend when your money is gaining value? As we can see from history, spending was quite common in years with high interest savings.

"when people expect falling prices, they become less willing to spend, and in particular less willing to borrow" -Paul Krugman

Yep, I lobbied myrkul for special treatment to get a task force. That is the part of the game that is missing (bribes).

So it is in your best interest to not steal from me.

Plus I lojacked all of my goods.

Too much focus is going on moving money back and forth between new currency and old currency.

More focus needed on using the new currency.

This is my public decree on how I deal with thieves.

If you steal from me, as an eye for an eye, the next round I will attempt to retrieve my stolen goods by sending in a special task force to steal my points back.

If you choose trade during that round, I will return to trading with you and we will move on with a clean slate.

If you choose steal again, I will continue to send my task force in every round until you choose trade.

Apparently most people are ok with stealing from other people. Especially if they can convince themselves that taking money from unwilling participants is not theft if the thief has a funny hat on his head.

I was in a bank and this teenager was there with his parents. One of the bank ladies was pushing him to get a credit card or debit card (ever since the bank became Wells Fargo they have been pushing credit cards hard). He said he just uses cash. She talked about how he could lose his cash or it could get stolen and if it was a credit card the bank would be able to get his money back if it was stolen.

Pretty sad really...like tobacco sales marketing towards kids.

It is hard to compete with free government services but I can see people willing to pay for quality.

On second thought, my open source idea would probably be hijacked by those government services that already provide it.

If you have 100 people and someone comes up with a proposal that requires 100 BTC and people put in 1 BTC each then 51 votes will only result in 51 BTC and the proposal will fail.

If you have 100 people and the proposal is for 50 BTC at 1 BTC per vote and you get 51 votes, then the proposal passes and those 51 people are now part of a new group that is in charge of moving the proposal forward.

https://en.wikipedia.org/wiki/Community-supported_agriculture

Check here to see if you have a local farm that supports a subscription based food purchase:
http://www.localharvest.org/organic-farms/

If you can convince your local farmer to accept bitcoins, you are all set.

I checked this out at one point in my area. I found an organic farm that charged something around $150/month (or maybe that was per week) for membership. With membership you were able to go to the farm weekly and pick up a few bags of fresh vegetables and rabbit meat (their specialty) and at times they would have other meat from the few animals they had on the farm. What you get that week depended upon what they harvested that week. It was a pretty decent deal and they gave me a tour of the farm (they charged $10 for tours) to show what types of food they grow and how they grow it. They had some hydroponics, a very good system of raising rabbits and using their droppings to help with fertilization. All quite interesting. In the end, my wife was not up for it. Although she likes meat, she loves animals and if she actually sees the animals that will eventually become meat...she would not be able to eat it. And I am not big on vegetables and that was mainly what they provided so we declined. They actually had a waiting list of people though (since they would only allow for so many people to be members since there is only so much food).

Another local farm I found had organically fed cattle. You could subscribe to that and get a full, half, quarter cattle once every few months. I asked to be put on that waiting list but never heard back.

Here is an insurance company that accepts bitcoins.

http://www.bmins.com/bitcoin.html

Then tell them that all grades will be distributed evenly to all kids. If 10 kids get an A and 10 kids get a B and 10 kids get a C, then everyone will get a B. If only 5 kids get an A, 10 kids get a B and 15 kids get a C then everyone will get a B-.

See how long those A students will continue to study and work hard.

In about a week you will be able to test something very similar to that. See my sig.

"Only the man who does not need it, is fit to inherit wealth–the man who would make his own fortune no matter where he started. If an heir is equal to his money, it serves him; if not, it destroys him. But you look on and you cry that money corrupted him. Did it? Or did he corrupt his money? Do not envy a worthless heir; his wealth is not yours and you would have done no better with it. Do not think that it should have been distributed among you; loading the world with fifty parasites instead of one, would not bring back the dead virtue which was the fortune. Money is a living power that dies without its root. Money will not serve the mind that cannot match it."

http://capitalismmagazine.com/2002/08/franciscos-money-speech/

How is one defined as "elist snobs"?

My answer.

I have no bitcoins.

(on me)