Ripple denominated in Bitcoin. Settle your debts with actual coin, or transfer your debt via a credit you have with a mutual friend.
Beautiful.
+1 I've always envisioned ripple with dollars. Duh. I like Ripple, but it may be generations before people are trustworthy enough. Bitcoin will teach us that money can be attracted to people with creativity and ingenuity without intimidation from a corporatist judiciary. Bitcoin is part of the punctuated equilibrium we need to to allow the human spirit of creativity to thrive and bring civilization to the next level. Type one. Z-Day. Grok. |
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Ripple denominated in Bitcoin. Settle your debts with actual coin, or transfer your debt via a credit you have with a mutual friend.
Beautiful.
+1 I've always envisioned ripple with dollars. Duh. While I like the idea of Ripple, it will be many generations before people are enlightened enough for it to work. Dollars are too often counterfeit and assessed fees. Bitcoin will help teach us to trust in the human spirit because we will have a super liquid money that can't be blocked or controlled. Human ingenuity will attract Bitcoin to the creative people and allow them to elevate civilization as only technology can. Bitcoin is part of the punctuated equilibrium we need to become a type one civilization on Z-Day. Grok. |
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You are not getting the point. It is very simple. The reason Dubai imports foreign workers to work for substandard wages and living conditions is because they believe the OFWs to be inferior races.
Right.... as if the developers care about the race of the workers more than the price  Actually, the Filipinos (OFWs?) in Dubai make considerably more than the Pakistanis and Indians. This is primarily because they are much better at English communication. Profit-seeking entities care about prices, not skin color. You are a smart guy, but your slip is showing. Meh, the filipinos have been conquered by nearly every major empire. They are indeed educating themselves and are doing what they can to survive. They are not a most favored nation, so they settle for what work they can get. The workers aren't "forced to live in dormitories." They chose to move there from their grass huts without running water or electricity... you might just make the same decision. *chuckle* I wonder if those huts were in the brochure for the job posting. |
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You are not getting the point. It is very simple. The reason Dubai imports foreign workers to work for substandard wages and living conditions is because they believe the OFWs to be inferior races.
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Heh, I wrote a few chapters in a book a few years ago about this subject. I proffered a somewhat different treatment. I'm not going to plug it here. Good luck with book sales.
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cbeast, why do you want to bar people with little skills from selling their labor at market rates? If they can guarantee themselves a job at 2 dollars an hour, why the hell not? You seem like the oppressor. It seems you rather see them starve on the streets looking for a job rather than having one at an equitable rate.
Problems only come when government restrictions inflate the cost-of-living so people with little skill can't afford to sustain themselves; that's the true crime.
Atlas, your arguments are as transparent as your pseudonyms. Back of the class. This is what I love about Bitcoin. It brings out the true nature of people who love money. What they do not yet realize is that money people depend on fiat. Even gold can be controlled by power and guns because it is physical. Bitcoin will one day evolve beyond the electronic network that exists today. Bitcoin is an idea, and ideas cannot be killed. Where did I hear that line? Ideas themselves are useless without the people that create and build. We the people will choose to use our money smartly... eventually. |
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I wonder why they don't just employ workers from neighboring Arab countries for those jobs? Mexico pays workers low wages in their resort cities, but they are their own people. I wonder why they pay so little when they have such wealth and opulence? Perhaps in Dubai, Pinoys, Pakistanis, etc. are considered untouchables?
[edit] This is a personal issue with me and people I know working in Dubai. Nuf said.
Well first, you say "why don't they" as if it's one big collective. The property developers in Dubai are private companies, though some have ranging co-ownership by UAE government groups (the government there actually runs itself more like a business, generating profits instead of taxing the hell out of everything... it's nice). But, any developer who hires a Pakistani instead of an Arab is simply making a rational profit-maximizing decision. The Pakistani is willing to work for less than the average Arab. They're not hired "because they're Pakistanis"... rather, they're hired for rational commercial reasons; the most cost-effective means of production will be sought out and utilized. And you ask, "why do they pay so little when they have such wealth and opulence?" Come on man... when you go to the store, do you pay what the bread costs? Or do you voluntarily offer to pay more? You, with your computer, are a wealthy and opulent person by world standards... so why don't you offer to pay more for things? The same self-interest that you (correctly) exhibit is also exhibited by a group of people calling themselves a corporation. It's just a matter of scale, and until you offer to pay more than the minimum price for your bread at the store, it's hypocritical to chastise a company that pays the minimum price for labor. I wasn't going there, but you did. They are paying the going rate of people they know they can exploit. In the USA, people work for a minimum wage. It isn't much, but it's a lot more than $10 a day. People are free to live as they choose, not forced to live in dormitories. When I buy a loaf of bread, or clothing, or electronics, I try to avoid items that exploit and oppress workers. In fact, I buy very few material things at all. I do help people in impoverished countries directly, as much as I can while I endure my own burdens. Come on, man... why do you think they allow paying foreigners lower wages? What is your standard for a "minimum price of labor?" America "imported" laborers too, until the Civil War. I live with these Johnny Rebs that want to see the South rise again. Hate is alive and well. |
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Dubai was built by slave labor held at gunpoint and is going bankrupt. Maybe Bitcoin will save it from impending bankruptcy.
Where do you get your information? I lived in Dubai for two years. A) There is not "slave labor held at gunpoint." There are some unscrupulous developers who deceived immigrant workers, or renegged on contract obligations. However, this was a minority of developers and is indeed criminal. Most developers simply imported workers from Bangladesh, India, and Pakistan... paying them perhaps $10/day. Why would anyone agree to that? Because back in their countries they made $3/day. Many workers who immigrated to Dubai endured a very difficult job, but were able to send money home to their families and support them much better than if they stayed home, unemployed. B) Dubai is not bankrupt. The gov incurred significant debt, but it is far less on a % of GDP basis than most countries around the world. Further, the debt was in many ways a good investment, as it turned the city into a thriving metropolis. The financial situation for Dubai is far better than America or any country in Europe. I've been to Dubai about 9 times mostly during the real boom and I'd have to agree with Evoorhees from personal experience. It wasn't any different than the majority of wealthy countries that outsource most of their labor. If you go to the middle east you're going to see Indian drivers and Philipino waiters etc. I got to know a few and they were all pretty happy to make a good wage (for them) and help their families. The are some shady stories but like Evoorhees said they're not the rule and every country has theirs the US included. Jered I wonder why they don't just employ workers from neighboring Arab countries for those jobs? Mexico pays workers low wages in their resort cities, but they are their own people. I wonder why they pay so little when they have such wealth and opulence? Perhaps in Dubai, Pinoys, Pakistanis, etc. are considered untouchables? [edit] This is a personal issue with me and people I know working in Dubai. Nuf said. |
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Send the buyer a unique BTC address, then send the item. The Ebay rating system takes care of merchant trust issues.
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That's extremely exciting to the extent that it starts occurring. Keeping my eyes on this.
A case study in similar rapid development would be Dubai's free-zones, which spurred the dusty town into a global city of over a million people in a decade.
The winning combination:
1) Zero or near-zero taxation
2) Respect for and protection of private property rights
I have no doubt Bitcoin will find its way into free Honduran cities if they develop in such a way!
Dubai was built by slave labor held at gunpoint and is going bankrupt. Maybe Bitcoin will save it from impending bankruptcy. |
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Feb 2nd 2012
Bonus prediction of daily high of 4.14760
in case you put a second reward for guessing what it breaks 4.00 at. ;p
Only if the groundhog sees his shadow. |
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This will require enormous amounts of money to avoid ending badly. Is this something like they tried in Brazil (Brazilia) or are planning in Azerbaijan (Zira)?
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This is a conundrum. Do I buy a lot of Bitcoin or do I help develop the Bitcoin economy by investing money in real world applications? The former could have me ending up with a lot of worthless Bitcoin, the latter could make my few Bitcoin worth a lot.
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I'm trying to figure out how loans with cash work. Say I were to give John a loan, how can I be sure that John will pay me back if cash is essentially anonymous? I mean, with regular banks and financial institutions you can either get a secured loan or if it's unsecured and you don't pay them back they'll fuck up your credit. How can loan companies that use cash be confident that they'll get paid back?
Good question, very good question indeed. It seems that banks are failing everywhere. Maybe loan companies are becoming obsolete. I guess it depends on the risk vs reward. Why are you lending money? Are you lending simply to make a maximum profit? Are you lending to help someone improve their quality of life? It's about trust. Communities have a stake in helping one another. Even social networking communities can build trust. Maybe social networking will replace banks. |
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My only concern with this is that I suspect anyone with a twitter account who knows about bitcoin has likely already informed their followers to the point that they are sick of hearing about it.
+  I've found myself wandering aimlessly muttering "bitcoin...bitcoin...bitcoin..." |
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Print out some physical bitcoin with a small amount and tape them under the seats. If you get to a point where you see TEGO, have them retrieve them and tell them that someday they may be worth a lot.
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Don't forget StrongCoin.com - they allow private key import in most formats.
They really need to work on their site to look good on mobile clients. I use it as a common wallet for my computers, but using it on my android phone is a chore at best. An app like the mtgox app would suffice. The mtgox app still has problems importing base58 private keys. |
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Maybe Myspace will come back after they were disrupted by facebook if they adopt Bitcoin. Maybe a new social network will do the same. I think the disruptive part of bitcoin is not that it's liquid, but it's superliquid.
Bitcoin is like superconductor for money transfer. Sure, right now we don't have "room temperature" operations because we need a lot more infrastructure development, but it will come. That superconductive superliquidity will scale because technology will evolve around this new fundamental change in finance. The old dinosaurs of banks and countries will slowly go extinct.
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How do you say "Screw the Banks" in Latin?
Literally, "Copula argentarias", but I fear Caesar wouldn't understand... I take it you haven't seen "Spartacus" on Starz. Every other word is "copula."  |
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I get the impression we are intended to deduce that even if iCoin, gCoin, PepsiCoin and so on are created identical to Bitcoin in all things other than who signed their genesis block and when, they will take off better than Bitcoin if only because they are more-famous brands than the bitcoin brand.
-MarkM-
Yet people still drink Coke even if it fails the taste test. |
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