What good has Bitcoin done for anything except spawn an entire group of basement dwellers who are trying to get rich as quick as possible, with minimal to no work. How has Bitcoin added to the national debt in any way, it's market is worth less than a cities transportation budget. In fact Bitcoin is a way of money laundering.
Just because some "basement dwellers" are risking their own resources on a new technology that is utterly revolutionary, and may well profit from it, doesn't mean they deserve ridicule. In this world, you can make money through work, or through risk, and usually a combination of both. The people who risk their money and time on Bitcoin before the mainstream "gets it" are doing the world a huge service. If you don't see the potential of a frictionless currency that can be transferred across the world in less than a second, that breaks down national borders, that permits financial privacy and open markets, then you're welcome to avoid Bitcoin. Speaking from my own experience, I've used Bitcoin extensively to pay and get paid for freelance work with people in the Philippines, China, and Spain. It has made my work more efficient, and more profitable. Bitcoin is a tremendous financial innovation. The best part? It's all voluntary. Unlike the fiat currency you clutch on to, nobody is forced to use it. Its demand comes from free men and women engaged in free thinking and free exchange. If you look upon Bitcoin and see "money laundering"... then perhaps all hope is lost for you. You are so far down the statist indoctrination of what constitutes morality in monetary transfers that it's unlikely any of my words will appeal to you. Bitcoin lets free individuals exchange goods, services and labor across distance. It expands the global marketplace. It makes trade faster and more efficient. If that doesn't inspire you, what does? |
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How could the community drop MtGox if they cornered the market? Isn't the point of cornering the market to gain a monopoly? Who else could sell you a bitcoin in Spain, for instance, if the mark were exclusive to MtGox in Spain? By the way they have a mark app pending in Spain as we write, which app has been opposed by a German company. I still have not seen their proposed free & open license agreement for filed & registered marks posted anywhere. Apparently, MtGox has not thought thru their bold pronouncement.
It's called voting with your dollars, and how a free market provides social feedback. If MtGox pisses the community off, we use Tradehill, or any of dozens of others. The market position MtGox enjoys can disappear in an instant. They would never jeopardize their incredible position and all the revenue they earn just to try profiting from some trademarks via non-stop court battles. Worst business plan ever. I trust them, because I trust the long-term profit motive. |
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Why don't you integrate a way for visitors to pay directly with Bitcoins?
Try Bit-pay.com
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I forgot to include the obligatory sarcasm emoticon. TBH, I am not anti-bitcoin, I am anti-money. Period. I want to see bitcoin as the next evolutionary step before we get away from money altogether. I see bonds as just another way of selling silk purses.
That's silly. Money is as natural to mankind, and as necessary, as language. If people trade, they will barter for things. If they barter for things, a natural money-commodity will emerge in the marketplace. The world should abandon national fiat monies, not money as a concept. |
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This is a cool idea which I'd pondered on. If I were a wealthy person, I would absolutely do this as a form of political activism and to help change the world for the better.
Step 1: Form an endowment or foundation outside the US (maybe some Carribbean nation)
Step 2: Fund this endowment with $21m
Step 3: Create the bylaws for the endowment to dictate that it's sole purpose is to buy all Bitcoins at $1, and sell all Bitcoins at $1.50
Step 4: Make public record of these things, and announce the endowment to the world in a grand John Galt type speech. Make big PR event out of it.
Bitcoins would then never be worth less than $1 each. For the plan to be credible, the wealthy person needs to accept the fact that $21m may be lost in the purchase of a worthless good. If he can commit to that cost, then the plan works.
Come on Peter Thiel, stand up for your principles! No other form of charity I can ponder would be so useful as this to the state of the world. $21m to help guarantee a revolution in the world's monetary system. Pennies.
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Mainly we need solid and financially reasonable merchant services. Supposedly there are a lot of people working on this. But I haven't seen anything I can sell to businesses yet.
Bit-pay.com |
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This was my comment on the issue in the main forum: I know some are skeptical of MtGox's motives - many don't like that MtGox is trying to register trademarks.
However, I REALLY appreciate them stepping up and paying the money to do this. It is a huge service to the community to have MtGox willing to spend some of their profits on these types of fights. Kudos to them.
And to anyone who is suspicious - consider that if MtGox ever tried to corner the market by using its Bitcoin trademarks in a detrimental way, the community would drop them like a stone. It would be fully against MtGox's self-interest to so clearly abandon the trust of its userbase.
So, MtGox - thank you for fighting the good fight and good luck with these efforts. |
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1. The limit on the total of Bitcoins that may ever exist is, numerically speaking, much too small compared to the world money supply, which leads to a significant psychological barrier - since it is very difficult for a normal "man on the street" to believe that 1 BTC could someday be worth $100,000 or more (as it would have to be if Bitcoins ever became as widely adopted as the US dollar, say).
A dollar is divisible to 2 decimal places ($0.01). A bitcoin is divisible to eight decimal places (0.00000001). If you express the total number of bitcoins to two decimal places, you get 21,000,000,000,000.00 (21 trillion). +1 When considered correctly, there are actually 2.1 quadrillion "bitcoin units." If Bitcoins rise in price to such an extent that we cannot efficiently purchase a coffee with the smallest such unit, then we can all relax, because the currency already succeeded in taking over the world. We say there are "21 million" just as a notational issue. But each of the 21 million pieces is a group of 1 million smaller units. |
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Why anyone hasn't gotten out of Bitcoins at this point is beyond me.
Because some of us understand things better than others. Some of us didn't get involved to make money overnight, but to build a revolutionary monetary system. Sorry if the price volatility over the past few months has scared you. This is not for children. |
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Silk road is nothing more than a distraction. I use bitcoin all the time, but would not even consider using their service.
+1... I use bitcoin almost daily. I work with several people in different countries and being able to pay them and get paid with bitcoin instantly has been a godsend. Best innovation for global trade since the internet. |
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This guy is making a Starcraft II tournament system for BTC. Pretty awesome. It's in beta testing now, so if you play that game go support him! http://sc2btcopen.appspot.com/ |
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I know some are skeptical of MtGox's motives - many don't like that MtGox is trying to register trademarks.
However, I REALLY appreciate them stepping up and paying the money to do this. It is a huge service to the community to have MtGox willing to spend some of their profits on these types of fights. Kudos to them.
And to anyone who is suspicious - consider that if MtGox ever tried to corner the market by using its Bitcoin trademarks in a detrimental way, the community would drop them like a stone. It would be fully against MtGox's self-interest to so clearly abandon the trust of its userbase.
So, MtGox - thank you for fighting the good fight and good luck with these efforts.
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A decent overview of why deflation may not be the boogeyman so many believe it to be. I wish he'd spent more time discussing the economics of falling prices, but I guess that's "Deflation 102" and better for a follow-up lesson. http://www.youtube.com/watch?v=a6E1k2YO9qU |
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In order to show my gratitude, evoorhees, I'll drop a coin on Cato as soon as they accept them. And another one on 'stop-the-beaners-at-the-borders' with a nod toward WiseOldOwl  LOL  |
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Who is Keysian? He can't be any worse than Keynes, right?
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It is not my business or your business but it is the child's business. The child will grow up to be a delusional sheep, and the child's rights are violated when you teach him/her utter crap as science.
The child is best served in a competitive educational marketplace, in which theories and ideas are taught based on competitive merit instead of diktat. |
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What is currently accepted as scientific fact should be taught, alternative scientific theories should also be taught, but creationism has no scientific value at all, and hence should not be taught. Who decides that? 100% of scientists do. Foolish, delusional parents should not be allowed to continue the tradition of creationism into the 21st century.
How about this... let the marketplace decide what ought to be taught. Let each individual choose for himself and his children. Allow competition in education, instead of mandating your preferred curriculum upon the entire country. Mandating (by force) that children learn one thing instead of another is what churches do... and it'd be awfully ironic for you to engage in the same behavior while simultaneously condemning creationism. |
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