10% seems like an awful lot for bitcoin to achieve in our lifetime...

OP,

I am sorry that very few people actually understood what you were asking. lol.
However, previous posters are correct.
There is no objective way of quantifying the 'time value of bitcoin'

'Time value of money' is a gauging of the opportunity cost of spending or saving your money. It is generally benchmarked at current long-term bond yields, such as the US 10-year and 30-year treasury notes. One cannot do the same for bitcoin, because there is no central bank with discount rates, or treasuries that use OMO (open-market operations).
Generally, if you put $1000 into your wallet, it stays there unchanged. You can invest in a mutual fund and expect to get 8-12% returns per year (though your money is not guarantee to appreciate).

You cannot calculate the 'time value of money'... because it would be like the 'time value of a google stock'. It is speculative in nature, and events could shift either the buyers or the sellers to want either less or more.

I agree that there has to be created a better algorithm for trading online... one that is more stable than what we have now, but one that is also fair to all parties partaking in the market.

Question is... how can we do this?

http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt

It's not a chart, but it tells you in order who the biggest holders of US debt are.

yeah it's sad but true

The e-mail was sent via "mail3.uk1.mcsv.co.uk "

So... definitely suspicious

I recently saw a tweet referring to http://www.freebitcoins.org/

I read through and was immediately thinking how bad this is for Bitcoin, and Bitcoin's image.
One of those "Get your friends to sign up and you get 20% of what they get!"
This really DOES make Bitcoin look like a pyramid scheme, but I know it's not.
"Sign up and start earning FREE bitcoins!"

I don't like this at all.


If you are the owner of freebitcoins.org, please tell us your side of the story.

good thread

WHO THE HELL HIJACKED THIS THREAD AND TURNED IT INTO A PSEUDO-FLAME-BATTLE FOR HARDCORE LIBERTARIANS??

Excuse the rudeness and the all caps.

+1



But yes I agree. It seems Bitcoin seems to appeal to two fringe groups with one sub-group: libertarians, computer geeks (subsection: computer geeks who like drugs)
Given the world that we live in, we have to get the ENTREPRENEURS to understand the value of Bitcoin. We can't just tell them what it is, chances are they won't understand 95% of it. Unless they are entrepreneurs who specialize in computer/internet related business.

First we have to explain the WHY. Why is Bitcoin good for society, business, culture, etc. As much as I hate to say this, you can't start off that conversation with "Because it is an alternative to the corrupt FED-printed fiat currency we use today! They are robbing you through inflation, taxation, etc!" Be more subtle, try to relate more to the middle of the spectrum.


Second we explain the HOW. How does Bitcoin help business? Because, essentially, money exists for three purposes: Medium of exchange, storage of value, and a common unit of accounting for value.
Bitcoin is good for business and society because it does away with the percentage fees that most credit cards and banking institutions impose. It is also useful because you will not need an entire department of bookkeepers just to stay on track of your money. You can't forge money, because the whole network is "aware" of transactions taking place. Theoretically, if someone were to calculate all the transactions to all the addresses since the inception of Bitcoin, they could tell you exactly how many Bitcoins have been sent and received to each address, and with this knowledge they can guess how much BTC each address is holding right this moment (of course this is a monumental task better left to a machine).

Third why explain the WHAT. What does this mean for me, my business, my country, etc. From the entrepreneurial point of view, this is where you tell them you can send money oversees without having to exchange currencies at a hefty fee. Tell them about the credit cards skimming 5% off of each transaction. If they are interested, this is where you rant on about your libertarian, cryptoanarchistic tendencies (DO NOT mention this in the WHY). Only mention it in the WHAT and ONLY IF your audience will take it kindly.

CORRECT ANSWER:

Same percentage of the M1 USD money supply that is used for "unethical things"

There are many libertarians here. So things like selling/buying illegal things, cheating your taxes, and other such contraptions would not be really thought of as "unethical"
I doubt many BitCoiners are using it for slavery and sex trafficking..

yes there is, but i'm too lazy to link you. it's ancient history anyway... are you looking for an address-book for some spam you wanna mass send?

+1

A good starting point is getting yourself off the "Newbies" board, and post a decent-looking post in "Bitcoin Discussion" and also "Marketplace"

A Bitcoin sales pitch.

Also, you should get your company a twitter, and start TWEETING YOUR BALLS OFF. Every tweet containing the hastag #bitcoin, of course.

Seems like we have a disciple of Rousseau on our hands

FRENCHMAN! KILL IT WITH FIRE!

As on 18:37 GMT, June 26, Mt Gox is up and running with a trade volume of 4 at the moment.

Let's put this whole thing behind us.

Edit 1: I been Gox'd. No trades.

+1

I don't understand why there wasn't one from the beginning... considering this valuable virtuable goods.

agreed +1

http://falkvinge.net/2011/06/16/bitcoins-four-drivers-part-one-unlawful-trade/
http://falkvinge.net/2011/06/18/bitcoins-four-drivers-part-two-international-trade/


These are the other side's fantasy. The other side being the opponents of OP in this debate.

This is why the Economics board is a joke... this thread..