OMG, what is all the hassle about ? It's a normal correction.

It happens and it will happen very often. BTC price will not stabilise until there is great amount of goods & services avaiable for it + much larger number of speculators than now...

Hahahahaha i didn't think of it this way.
Well, it's probably true.

Actually, it's enough that one large investor or veeeeeeeeery famous person starts using it.

What is happening now is that everybody who is watching bitcoin is waiting for the first big fish to take the risk. If the big, "alpha-male" fish takes the bait, the herd will follow. After that it will be a massive, unstoppable snowball effect (and bitcoin may rise 10-fold or 100-fold in few days after they announce that they jump on BTC bandwagon).

I believe there's a name for that phenomenon in psychlogy/sociology, i just can't find it now.

This effect doesn't work on us, free thinkers/libertarians/minarchists, because we are natural black sheeps, outsiders. We don't follow the herd usually. That's why we are early adopters, because we 1) actually think where we are going 2) look the other way than the herd looks, so we notice weird/unexpected/unusual things before everyone else.

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I imagine that if GoldMan Sachs or Santander adopted Bitcoin, everyone would follow. But of course they won't.

Agreed, today's bankers are not devious masterminds.

Devious masterminds were the ones that designed this system and put it in motion (probably Rotschild, Rockefeller, JP Morgan families). Possibly their descendants too.

Few hundereds years of ripping everybody off is quite enough to do some demonization.
Some time ago they would be hanged for this. It's just today we are so stupid that we allow them to suck us dry and they not only go away with it, but they are actually treated with respect.

This is sick, and I am not exaggerating. Being a "simple folk" is not an explanation of anything.

I figured that out myself. I just wanted to point out that when serious people (and especially serious businessmen) write in english, they write in english - not spanish.

Well, at least we know what his nationality is - it will be easier to find where he lives in case of he scams somebody.

Why do i get the feeling that you are another instance of v1l1r ?

http://bitcointalk.org/index.php?topic=4153.0

BTW,
WTF does "Hola" mean ?

My socks alre already encrypted. Aren't yours ?

Few hundereds years ago "fractional reserve" would be simply a crime. Well, it was a crime actually (punishable by death i think).
But of course later they legalised it and made it the foundations of the current system. No wonder it fails so often.

You have already answered yourself.
The prices will drop first, triggering the drop of salaries later.

The prices should always drop faster than salaries are falling, thus this system is much better for employess because in the current system prices rise first, and salaries rise second. In Bitcoin world, it's the opposite.
It is truly incredible how deeply manipulated society we are. Bankers made us think that (EDIT: deflation is bad) for us, while it always was the opposite.

So f you want to convince somebody to deflationary environment, say to him that not only will everything get cheaper faster than salaries fall, but it will be possible to earn money just by keeping them in your socks, without investing them or putting them to savings account.

Any updates on the topic ?

Yeah perhaps it sounded alike. Anyway that's not what i intended. Mea culpa.


There is a fundamental problem with fractional reserve banking, and i don't think it should exist at all in a free market.
Fractional reserve is simply cheating. In a truly free market, you cannot have more money than you have, otherwise it is not a fair competition.

Banks simply add numbers to their accounts when they loan money. I find it very similiar to printing money, which breaks the currency.
With Bitcoin, this system will be destroyed and we will not be robbed by banks anymore. Also the large crisises will disappear because there will be no more baloons to pop.

The winner of this year's necromancy award is thesam !
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SHA1 even with its weakness still requires a large amount of computation to be broken.
So it's reasonable to think that SHA-256 even with weakness will require very large amounts of computation to be broken.

Still, that of course won't fix the quantum computer problem, but when quantum computers come, we will have much bigger problems - such as SSL/SSH will be useless.

Actually, i do not criticise capitalism. I criticise the current state of things, which is far from capitalism or free market.
The reality is that banksters are ruining free market using inflation, central banks and repetitive cycles of development and crisis every 40 years (1929, ~1970, 2010 - notice a pattern ?).

Free market is currently an illusion, it doesn't exist because of tremendous manipulation done by the banksters using fake money. Bitcoin can restore the natural order of things, because it is the perfect currency - independent, impossible to manipulate and free from inflation tax.

Not very much, I'm a Libertarian/Minarchist and i believe in the power of free will and free act. Marxists wanted to change everything using force, while i trust in the natural market choices made by free people.

Banksters are running this world far too long. It's time for change.

What i can say is that when Bitcoin succeeds in mainstream, the world will switch to reverse gear.
The ones who are now on top (banksters), will become at best middle class, and hackers/IT specialists will be on top (as early adopters).

I sure think that would be a better world.
So Bitcoin has the potential to fix the world, at least partially.

Do you sell french fries too by any chance ?

Yes, that is exactly what i dislike about the case.
Baron was an obvious scammer, but mtgox was definately hiding something / not playing open cards.

This is why at some point i thought that mtgox is a scammer too.

Well, this is not good tactics if you want to attract big players, serious people & people who are afraid of risk.

For now, +1 is all that mtgox gets from me. To get more, he needs more openess & clarity.

OK, i think I am done with the poll options - version 3.0 stable is out.

Do you like it now ? Any more suggestions ?

Fixed.