Not true at all. Steady price has no significant correlation to wealth distribution.

The steady price is important for people to be able to trust in the value-storage aspect of Bitcoin - the extent to which it's stable is the extent to which it can be used not only for wealth transfer but for wealth storage.

Absolutely beautiful design. I LOVE it. Will be recommending it as the best option for anyone who's not a hardcore user. I think this is finally an ewallet/phone wallet for the masses. Really well done!!

Funny you mention that year, when the income tax was levied. If I were to pick one year when the US shifted decisively from primarily capitalistic to primarily socialistic, it would be 1913.

Awesome article!!! I encourage everyone to leave comments, retweet, and post that shit on facebook.

And I love that "Zhou Tonged" is now in the global vernacular. Makes me feel better that it's happened to me

The price mechanism doesn't care about spirit... when a good is scarce, the price will rise. To sell them for less would be to make the scarcity worse. If they were sold for less, you wouldn't see them on Craigslist at all, because they'd already be bought, and instead of having the option to buy at $1,250 you'd have no option at all

Ahh Burning Man! Thanks for volunteering me Charlie

Such a trip will be absolutely fantastic under the following conditions:

1) First and foremost, the purpose has to be to go with bitcoiners as a social and networking and ideating activity. We'll be able to talk bitcoin all day long among ourselves and I'm sure some great work would come out of it. BUT - we will not (and should not) be able to "sell" or promote bitcoin at Burning Man in any visible way. If it comes up in conversation with outsiders, that's great, but we can't be there to evangelize. So to the extent that it's partly a business trip, the business would be primarily limited to internally within our group, not externally toward other burners. The event is explicitly "money free" and "promotion free"... and if we're promoting money then we FAIL doubly With that said, many burners would be interested in a counter-culture monetary system - so hopefully lots of organic conversations could happen.

2) There's actually an issue of ticketing this year... basically the event has gotten so large that there are not enough tickets. Because the operators don't understand how price mechanisms work, they thought it'd be better to distribute tickets on a lottery system than by raising prices to curb demand. Any free-marketer would be able to predict the outcome - shortages! I have no idea how to get tickets this year, and it might be impossible to do in any coordinated way for a group of us. So, this might be a problem :/

3) Burning Man is absolutely wild and awesome and interesting (just like Bitcoin). I can think of no better way to spend a week with fellow bitcoiners. But, it's intense, and requires lots of planning. Cannot be done last-minute. Requires commitment and dedication.

4) A nice RV is mandatory... fuck tents in the hot sun. A/C, showers, and cold beer

Badass. Is it linked on the page somewhere? I dont' see it.

This does create an interesting phenomenon with public transactions. Everyone can see how much each girl makes - for better or worse. Now if someone has tons of coffee available and nothing else to do tonight, they should make a webpage, like a ladder of the girls. Something graphical, so that girls move up and down on the ladder and the top earners will be in the spotlight.

Does anyone know where the girls are coming from? Are they all acquaintances of us bitcoiners, or is the word getting out somehow? Are these girls all from the /gonewild site?

Do we have any market intelligence?

Old marketing vs. new.

You're stimulating something with your wrist alright.

Hey if you made a script to track the scores, you should put it online auto-updating, then put a link on the reddit page so everyone can see.

I like your logo too, Terry

I think the lesson from the Instawallet thing is NOT that Instawallet should change, but simply that people need to be careful with taking screenshots of account information   Instawallet's convenience is awesome... don't use it for a savings pile, but for quick transactions and little campaigns, it's perfect. I hope they never change it.

The girl realized it was her mistake, and it's been corrected. I'm sending her another coin now for her good spirit and perseverance.

Oh man, that so sucks!  I'll send her another bitcoin when she's fixed the vulnerability. Easy mistake to make!

Instawallet itself is very trustworthy, I use it all the time. Just have to make sure not to disclose that unique URL!

FTFY

Yeah she did an excellent job.

I made a FeedZeBirds campaign to promote http://imgur.com/a/JDVRZ

See it here: http://www.feedzebirds.com/0lfg

I seeded it with .5 btc, feel free to donate as well to help it propagate. The .5btc will get it in front of 100,000 twitter users

All new things are experiments.

 

Ohhhhhh that's pretty clever

No need in this case, FeedZeBirds is my site so I'll be making 5% anyway

But yeah, it's an excellent way to market our little project here