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1  Other / Politics & Society / A question about property rights on: September 06, 2011, 05:30:02 PM
I would like to put forth a scenario to be considered by those who advocate strong property rights.

Let's take the Lockean view of property that something becomes property when someone mixes their labor with a natural resource, and after that the owner can use and trade it in whichever way he sees fit.

Now consider a farmer that comes across an unclaimed piece of land. The farmer builds a house on the land, plants crops, digs an irrigation ditch etc. Many years later all of the land around the farmer has been claimed by others, and he comes out with a 20 acre parcel of land (or however much). The farmer now dies in some accidental way. He did not specify any heir that should inherit the land, and he was the only one that worked that piece of land at all. All of the surrounding residents believe that they have as much of a right to his land as everyone else. What is a reasonable way to decide to whom the land belongs?
2  Other / Politics & Society / Closest thing to a libertarian utopia on: July 28, 2011, 06:42:39 PM
It seems to me that the libertarian/anarcho-whatever ideology hinges on a couple of key ideas. The most important in my view is that every individual has inherent rights to security, self-determination and property (unless of course that individual violates the rights of others).
I want you to consider a scenario: Imagine that every individual had the means to protect themselves from any physical attack, kidnapping and therefore coercion. This seems, in theory, to be the ideal for a libertarian. No one would be able to harm you and you also could harm no other individual; no violent crime of any nature could occur.

However, consider for a moment what that would mean for property. There would be no physical means to preventing theft, and property would only be able to exist as an agreement (Don't steal any of my shit and I won't steal yours). Would this reduce property to a theoretical idea that would not actually exist in practice?
3  Bitcoin / Bitcoin Discussion / "Lionhat Security" takes credit for mtgox breach on: June 21, 2011, 02:46:08 PM
http://pastebin.com/a7cY6paE

I originally read this on buttcoin.org (hate to give credit to such a site, but oh well).

If you put their donation hash into google it says that they've been mining on eligius, and shows up on this site as well: sevg.net/bitcoin. Also comes up with this acct on the forums : http://forum.bitcoin.org/index.php?action=profile;u=22775

It seems really suspicious to me, it looks a lot like some guy trying scam people into sending BTC for new info.
4  Bitcoin / Bitcoin Discussion / Credit/Debit card to BTC problems on: May 25, 2011, 05:11:17 AM
I've been reading and doing some research on why there hasn't been a CC/debit card to bitcoin service yet. The big reason seems to be the threat of chargebacks/fraud, and that credit card companies consider buying currency a cash advance so additional fees would apply (although this isn't a problem for debit cards).
So I was just thinking, wouldn't it be extremely easy to prove that you actually delivered the bitcoins by having the agreement written out beforehand that you would send your bitcoins from your address to theirs, and that this would be verified using blockexplorer? Wouldn't it be extremely easy to then prove that you actually delivered what it is you said that you would deliver?
5  Bitcoin / Bitcoin Discussion / Prediction/proposal for growth of the bitcoin economy on: April 19, 2011, 06:25:09 AM

I've been lurking for the last couple of days and have been very impressed with the whole bitcoin concept and what it could mean for
the internet, black markets and the world economy.

From what I've gathered bitcoin's impact has been fairly limited in terms economic activity
thusfar. You can convert USD to bitcoin (or vice versa) using mtgox or other services, but of course what is the point of shifting paper around?
The key utility of bitcoin in my view isn't what it is worth vs. the US dollar or other currencies, it's key utility is transactions that can not
be restricted or tampered with by governments. Who are the merchants that have the most use for bitcoin unique features? That is an easy answer: Those who want
to purchase or sell illegal goods and services. My prediction is, whether you like it or not (pretty sure most of you like it), the bulk of the bitcoin economy with be in illegal goods and
services in the near future.

Based on this premise, I have a proposal. My proposal is to use these black markets to fuel legitimate markets using bitcoin.
I'll give an example how this proposal could be carried out; The internet poker market. given recent events this one has huge potential for bitcoin, there are possibly millions
of american poker players who are not able to play their game because the government has hampered all methods of payment processing. I know that there is already significant discussion on this subject, but i just want to stress it's importance.
First of all someone needs to set up a reputable and reliable poker site that uses bitcoin as it's currency. I know there is already one, www.betco.in, and that there are others in the works.

So how does my concept apply to this situation? Answer: We need these future bitcoin poker sites not to just be a medium for shifting USD to bitcoin and back to USD again. We need them to get people interested
in using their bitcoin to buy other goods and services! Therefore I suggest that future bitcoin pokersites strongly consider advertising other bitcoin businesses (maybe ones that specifically target the poker demographic).
This would be a huge boost to the liquidity and legitimacy of bitcoin, and would grow the non-black market bitcoin economy.

In short, what we don't want is USD --> bitcoin --> illegal goods and services --> back to USD, what we want is USD --> illegal goods and services --> legal bitcoin economy --> repeat.
You can apply this to any black market that bitcoin could be applied to, drugs, pornography, file sharing etc.
Thanks for reading.
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