Bitcoin Forum
April 24, 2014, 05:52:25 AM *
News: Due to the OpenSSL heartbleed bug, changing your forum password is recommended.
 
  Home Help Search Donate Login Register  
  Show Posts
Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 [21] 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 ... 249
401  Bitcoin / Bitcoin Discussion / Re: How long will it take for people to realize Bitcoin isn't just a currency? on: January 20, 2014, 07:25:30 PM
Anything used as a medium of exchange and which is in wide circulation is a currency.

Your argument is thus invalid.


That's a textbook definition, not a legal one. Are you disagreeing with China and Finland?
402  Bitcoin / Bitcoin Discussion / Re: How long will it take for people to realize Bitcoin isn't just a currency? on: January 20, 2014, 05:32:24 PM
In fact, it's a terrible currency. Bitcoin as a currency can't be used for micropayments, but Bitcoin derivative currencies can. Bitcoin cannot be inflated for state run money supplies, but Bitcoin derivatives can. Bitcoin cannot be used for trading legacy financial instruments, but Bitcoin derivatives can. Bitcoin cannot be backed by tangibles, but Bitcoin derivatives can. Bitcoin doesn't do any of the things traditional financial institutions want, but Bitcoin derivatives can do them better than what they currently have. Think of the Blockchain as the building blocks of a Minecraft style new World of Finance.

you need to re-read some stuff because you obviously have no idea what kind of stupid shit you are spewing
Finland and China have declared Bitcoin as not a currency. More will follow. Bitcoin is a currency as much as gold and silver are currencies.
403  Bitcoin / Bitcoin Discussion / Re: How long will it take for people to realize Bitcoin isn't just a currency? on: January 20, 2014, 05:31:20 PM
Having said this, let's start seeing some Bitcoin derived currencies! Micro-payment channels implementation now in bitcoinj is a good place to start.
404  Bitcoin / Bitcoin Discussion / How long will it take for people to realize Bitcoin isn't just a currency? on: January 20, 2014, 05:19:54 PM
In fact, it's a terrible currency. Bitcoin as a currency can't be used for micropayments, but Bitcoin derivative currencies can. Bitcoin cannot be inflated for state run money supplies, but Bitcoin derivatives can. Bitcoin cannot be used for trading legacy financial instruments, but Bitcoin derivatives can. Bitcoin cannot be backed by tangibles, but Bitcoin derivatives can. Bitcoin doesn't do any of the things traditional financial institutions want, but Bitcoin derivatives can do them better than what they currently have. Think of the Blockchain as the building blocks of a Minecraft style new World of Finance.
405  Economy / Economics / Re: Technological unemployment is (almost) here on: January 17, 2014, 11:55:54 PM
Sorry I created CoolPage.com in a Nipa Hut in the Philippines. I was the programmer of it all, the janitor, the marketer, the artist, everything. And it reached a million users by 2001, well ahead of friendster. In fact, they came to me and bought a 7 figure non-exclusive license via Homepage.com.

Don't tell me knowledge chases capital. Not in this software age.

You should also study the 160 IQ genius Eric S Raymond and his economic writings on open source and knowledge creation:

http://www.catb.org/esr/writings/magic-cauldron/magic-cauldron-5.html

The Industial Age is dying (or dead). Capital is dying (or dead). We are in the knowledge age, and you can't buy my knowledge for less than $100 billion (which you soon will although I have no clue what I could do good with that much money).
Pinoy spirit. This is why I am expatriating to the Philippines. This is why the Phils will become a major force in the pac-rim.
406  Bitcoin / Project Development / Re: [PREORDER] Trezor: Bitcoin hardware wallet on: January 17, 2014, 03:18:37 PM
I need this thing for my parents as soon as possible, cause I clean out viruses from their system pretty much every other month!

They can still store the bitcoins on an offline PC, use it to for tx signing, and use the online PC for broadcasting the transactions.

Not sure of serious
if he was really serious, he would have included a bip 38 paper wallet backup with a high entropy password for mom and pop.
407  Bitcoin / Press / Re: [2014-01-13] IT Business : Royal Canadian Mint's version of Bitcoin: MintChip on: January 15, 2014, 05:22:12 AM
It sounds like a nice add-on for a Robocoin ATM.
408  Economy / Economics / Re: Would World War instantly destroy Bitcoin? on: January 13, 2014, 09:03:52 PM
A world war would not necessarily kill bitcoin.  As long as governments remain corrupt, bitcoin will flourish.
+1
409  Bitcoin / Development & Technical Discussion / Re: Are there plans to shift the Bitcoin decimal point to the right? on: January 11, 2014, 10:09:38 AM
Interesting. The quoting mechanisms could be improved, and the infrastructure for them as well. Currently you can quote 1mBTC = 0.001, and there is no problem with that (if the software and hardware supports it). So one cup of coffee costs roughly 2mBTC in the US. Note that bitcoin is the first true international currency, so in rural Africa one cup of coffee might cost 0.1mBTC.

However quoting prices in BTC is currently not viable as you have to change them every other day. So people mostly quote in US-Dollars, because BTC is too volatile.

The solution to this would be a new unit and to "peg" bitcoin to that unit. The volatility problem would be solved this way. You create an index and publish it. Then people can use it to quote their prices and have a reliable indicator of price. Its essentially like quoting in USD, but without supporting the USD as a the worlds reserve currency.
I agree. Most of Bitcoinia is currently driven by microeconomic theory. Raw Bitcoin trading and purchases will soon be a thing of the past. New layered currencies will be pegged through APIs and statistically modeled indexes. I think this will evolve through the decentralized markets currently in development i.e. Open Transactions and Colored Coins.
410  Other / Off-topic / Re: Sell the BTC now, by the end of January a price will fall down !!! on: January 10, 2014, 11:49:03 PM
The feds don't need to sell them. They print their own money.
411  Economy / Speculation / Re: China bans bitcoin mining hardware on: January 07, 2014, 10:36:04 PM
Quote
China bans bitcoin/litecoin mining hardware
Yep, not a single GPU will be made or sold in China with immediate effect  Cheesy  Cheesy Cheesy
right you are. All CPUs are banned as well. No computers, tablets, or cellphones are allowed to be made or sold in China.  Grin

The chinese will go to manual hashing , no problem Smiley))))
China introduces Abacuscoin!
412  Economy / Speculation / Re: China bans bitcoin mining hardware on: January 07, 2014, 10:26:27 PM
Quote
China bans bitcoin/litecoin mining hardware
Yep, not a single GPU will be made or sold in China with immediate effect  Cheesy  Cheesy Cheesy
right you are. All CPUs are banned as well. No computers, tablets, or cellphones are allowed to be made or sold in China.  Grin
413  Economy / Speculation / Re: I bought all my bitcoin over $1,000 on: January 07, 2014, 03:30:47 PM
We all say that at the price point we bought in at. It takes a full year or more to get a great ROI if you bought at a peak. While it's lower is a good time to buy a little more to hedge. Usually it's best to buy with cost averaging.
414  Other / Off-topic / Re: Thinking about naming my baby girl Bitcoin.. (due in 3 weeks) on: January 07, 2014, 03:23:57 PM
If you hate your wife and the idea of having a child, *and* have a lot of bitcoins hidden to help pay child-support and alimony, then go ahead and do it. Seriously, it's probably ok to nickname her that because the rally started 9 months ago and brought us all a lot of luck!
415  Economy / Speculation / Re: UP OR DOWN? That is the question? on: January 07, 2014, 03:16:07 PM
Magic 8-Ball says "It is Certain."  Grin
416  Economy / Speculation / Re: a small business bans bitcoin mining hardware on: January 07, 2014, 02:56:20 PM
a slight market overreaction due to misinformation

If it is a slight market overreaction due to 'misinformation', then we should be back up at $950 on BItstamp in no time at all as people realise that there are artificially cheap coins to be got, right?

Also, if this is how the market 'overreacts' to 'negative misinformation' coming out of China, then hold onto to your fkn hat! I predict lots of 'mis-information' to come out of China between now and 31st Jan 2014.
Well, India goes online tomorrow, so... maybe China wants to sell cheap coins to them, right?
417  Economy / Speculation / a small business bans bitcoin mining hardware on: January 07, 2014, 02:18:00 PM
a slight market overreaction due to misinformation
418  Economy / Economics / Re: Paul Grignon Just made Bitcoin killer on: January 07, 2014, 01:50:33 PM
Paul Grignon follows Peter Joseph and Jacque Fresco. Cool, I get that. The problem with TVP/TZM is busting through programmed compartmentalization inculcated into civilized society. What he is describing is what Bitcoin will evolve into one day. It's already baked into the cake. The world is not yet ready for Abundance and Gift Economy, not even close. We are only beginning the open source and crowd funding stage. The diseases of financialization and corporatism take a series of inoculations. Lets, Ripplepay, and other credit card like IOU systems like Grignon's will become available as Bitcoin powered apps.

I dont see how it is baked in with bitcoin, unless it is gonna be defined and have the hard limit removed and I dont see the Venus project or zeitgeist when I look at the concept for the coin. I see a way to force a commodity basket standard on the governments of the world and a way to have a flexible currency that will mitigate the threat of a debt based super nova. I see a way to make currency honest and backed with real productive capacity not promises from wall street or Washington. 
Bitcoin is emergent. It is only used as a virtual commodity in its raw form. As a protocol, it becomes a programming language for derivatives and other IOUs Powered by Bitcoincopyleft but is still using bitdust. As the popularity of these secondary transaction types grow, they will replace every financial instrument in existence. The bitdust will grow in value as these other systems are used. Who cares if these secondary financial instruments are real, productive, or even liquid? Let the market decide! Bitcoin is just the DNA. Isn't a coincidence that all life is based on just the four letters GTCA. Whatever evolves from it will only need the basic functionality already intelligently designed into the protocol. Believe me, there will be enormous beasts that evolve from this primordial ooze they keep saying is dead. Hopefully, it will eventually evolve into the best of all possible worlds.


The protocol is not proprietary, they wont use bit dust they will use visa dust.
What is 'visa dust?' Does Visa have a fraud resistant network?
419  Economy / Service Discussion / Re: Breaking News of bitcoin in china! taobao bans the trade of all the coins and .. on: January 07, 2014, 01:46:56 PM
The saying in English is: "The early bird gets the worm."  :-)

"The second mouse gets the cheese."
420  Bitcoin / Press / Re: [2014-01-06] BYRON WIEN: Bitcoin Will Collapse In 2014 on: January 06, 2014, 09:09:09 PM
I'm feeling a correlation between Bitcoin announcements and the discussion of tulips.
Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 [21] 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 ... 249
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!