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1  Economy / Service Announcements / Re: [ANN] RiskyWagerDetected! - Bet on Starcraft2 Games on: April 25, 2013, 05:47:09 PM
Looks cool, I'll try it out.  Always nice to support BTC and SC2 at the same time.  Bet placed.  I'll update this thread when I get paid back (if I win!).
2  Economy / Speculation / Re: why has bitcoin been crashing? on: April 24, 2013, 07:08:29 PM
Once Bitcoin reaches critical mass, the price will become much more stable.  Until then it's a roller coaster.
3  Economy / Economics / Re: Is Bitcoin viable, energy wise? on: April 24, 2013, 07:05:11 PM
How much energy consumption does FIAT currency take when you account for all energy consumed by banks and all other companies that are necessary for our current use of FIAT? (Visa, mastercard, etc)?
4  Bitcoin / Bitcoin Discussion / Re: PayPal president interested in bitcoin on: April 24, 2013, 07:00:16 PM
Having more widely used payment processors accept bitcion can only be good for bitcoin as a whole, even if those processors have horrible customer service.
5  Economy / Economics / Re: Bitcoin Loans and Lending; The Weakness in The Bitcoin Economy on: August 03, 2011, 07:50:14 PM
By my count, JoelKatz seems to have won this thread several times over by now.

There are people who understand the economics behind your points, they're just (mostly) staying out of this.

Confirming that JoelKatz has won this thread several times over.

On another note, why do people who have not even the slightest interest in using bitcoins stick around this forum for months and make hundreds of posts? (rhetorical)
6  Bitcoin / Bitcoin Discussion / Re: TurboTax advertises Bitcoin as a tax dodge! on: July 22, 2011, 03:26:35 PM
Just because you CAN evade taxes with bitcoins and probably get away with it doesn't mean you should.

And just because they CAN force you to give them an arbitrary percentage of your income doesn't mean they should.
7  Bitcoin / Bitcoin Discussion / Re: Killer transaction fee on: July 22, 2011, 03:22:19 PM
I think the fees should be voluntary and market-based. I like the idea that transactions are prioritized based on the fees attached to them. I'd imagine it will evolve to where you'll be able to see how long a transaction is likely to take given a certain fee, and you can pay fees according to your time preferences.

This has the double benefit of signalling to payment processors (miners) whether capacity needs to increase or decrease. If the network is getting clogged with transactions, and people are paying increasing fees to get their transaction done faster, then the profit for miners rises and new miners enter. Same if the market slows down, fees will drop and miners can withdraw capacity.

It's all very elegant  Smiley

EXACTLY.  The beauty of the free market is that the prices will work out.  People who wish to not provide a transaction fee, or provide a very low fee, will end up waiting much longer than those who voluntarily provide a fee.

Having some fee amount or % determined by some central authority or organization is contrary to the purpose of bitcoin.
8  Economy / Gambling / Re: Announcing! New Poker Site with Daily Free Rolls on: July 21, 2011, 11:39:30 AM
Looks pretty nifty, will check this out, PM sent
9  Bitcoin / Project Development / Re: New Bitcoin Wallet on: July 20, 2011, 06:50:13 PM
I like what I see so far!  Would like to see more  Smiley
10  Other / Obsolete (selling) / Re: [ 0.66 BTC ] Seditious Strawberry Jam for sale! on: June 13, 2011, 07:40:56 PM
Jam arrived promptly and was very delicious!  Good product. Good service. Would (and probably will) buy again.  Grin
11  Bitcoin / Project Development / Re: The 21 million coin myth on: June 10, 2011, 12:00:25 PM
Once the reward gets small and transaction fee income goes down as people get savvy, miners will disappear and the network will be in serious trouble.

As the BTC economy grows, the number of transactions and thus the amount collected in transaction fees will grow.  Assuming BTC is still around and going strong, by several years from now I would expect the amount of transaction fees per block to be at or over the 50 BTC level.  Just think if any significant portion of online transactions was done in BTC, you are talking about millions of transactions per day, and at even 1 million transactions per day and a .01 fee per transaction, you're talking around 70 btc in transaction fees per block on average.
12  Bitcoin / Bitcoin Discussion / Re: The single most important issue for BitCoin today on: June 08, 2011, 12:26:55 PM
It's pretty simple, if 1BTC is $20, people will have no problem spending 2-3decimals out.
Try to meet some of these "people" you refer to--regular people don't think like that.  And yes, I can say that because I'm probably a bigger geek than you are--I just work in usability and education.  No hard feelings Smiley .  The lightbulb moment for me was when I sent out wedding invitations to people who mostly own bitcoins because of me, and didn't get .01 donated despite getting plenty of cash in cards.  By contrast, I received over 30 tips from random internet users in the first couple months of this year which have now dried up despite the increased community size and traffic (some pieces I've written have received >15,000 views).  People haven't continued being just as free with smaller portions of money--they've stopped spending them altogether. People don't spend $20 objects freely when they expect them to be worth $40 tomorrow, and they don't just move the decimal place over mentally.  This isn't my opinion--I have a pretty large sample space on this one that makes it an empirical observation about the BitCoin economy.

I think a large part of the problem as well is that if you want to send less than .01 BTC, you have to pay a .01 BTC transaction fee.  I understand the reasoning for this, however it has some negative side effects.  If I want to send someone the equivalent of $0.05 at the current price of BTC, I have to pay $0.25 to get it there.
13  Other / Obsolete (selling) / Re: [ 0.66 BTC ] Seditious Strawberry Jam for sale! on: June 07, 2011, 05:24:02 PM
Wow that is a pretty awesome label.  I am also interested in some jam.  I'll send a PM!

PS - confirming that homemade goods for BTC are awesome.
14  Bitcoin / Bitcoin Discussion / Re: Senator Charles Schumer Pushes to Shut Down Online Drug Marketplace on: June 06, 2011, 07:56:43 PM
I know it dismays a lot of hardcore crypto-anarchists on this forum, but I am a happy, law abiding, tax paying US citizen Smiley  And I think bitcoin's best path to success will be to work within existing government regulations.

The vast majority of businesses we want accepting bitcoins are law-abiding businesses, as are the vast majority of people in the world.

If you believe that bitcoin is monetary freedom, as I do, then you don't want to self-select yourself away from the law-abiding world.  I want to spread bitcoin to as many people as possible... not "as many crypto-anarchists as possible"  Smiley

Sure, there will be setbacks from entrenched interests, but the best way to fight that is to be positive and help build the bitcoin economy.  Soon, the entrenched interests will be joining our economy.

Perhaps you should consider using USD.  It is an interesting currency which makes it very easy to comply with all US government regulations.  After all bitcoin will most likely be deemed an illegal currency in the coming months and you wouldn't want to be involved in something like that.
15  Other / Archival / Re: Silk Road: anonymous marketplace. Feedback requested :) on: June 06, 2011, 06:36:52 PM

Note about eliminating govt, it's often a choice of evils.  Shall we surrender civil society to blood-thirsty thugs, as is happening right now in parts of Mexico and Latin America?  Is that our future?  Somebody is going to control (and profit) from drugs no matter what.  Perhaps SR is something of a stepping-stone out of this quagmire.  I'd be interested on what, if any, role they envision for govt. if there were to be significant changes to current laws.  Or, does Silk Road consider itself above the law?


First of all I do not speak for Silk Road or for Bitcoin, as I am not affiliated directly with either. 

Second of all, I reject as false your assertion that eliminating government is "often a choice of evils" and would involve "surrender[ing] civil society to blood-thirsty thugs".  What is happening in Mexico and Latin America is a direct result of the government attempting to regulate something and being completely ineffective at it, which is causing mayhem.  Furthermore, if you think up all of the worst oppressions and "blood-thirsty thugs" that have plagued humanity over the course of history, you will find that the majority of them were governments.  In fact the most prosperous and happy societies in history were those with the most limited forms of government.

This has proceeded sufficiently off-topic now however that I will no longer reply to this train of thought in this thread, however if you wish to discuss how you think that government is necessary to save us all from the "blood-thirsty thugs", please feel free to create another thread and PM me the link.  I'd love to stop by.
16  Other / Archival / Re: Silk Road: anonymous marketplace. Feedback requested :) on: June 06, 2011, 04:38:16 PM
I don't want to encourage off-topic discussion here, although I think it's important that both Bitcoin and Silk Road deal with the legal and moral implications of their current business model.  However, if it's an act of defiance against our screwed-up drug laws and NOT actually engaged in any transactions, I wholeheartedly support it.  Yet, from what I've learned so far, that does not appear to be the case.

If you, Phenomenon, eliminate government's role in drug policy aren't you then simply advocating the status quo and encouraging the prison-industrial complex along with a host of other serious social, economic and humanitarian problems?  Somebody is going to control the drugs.  Who or what do you recommend?

By eliminating the government's role in drug policy I would be changing the current situation.  By definition this would be the opposite of advocating the status quo, so i'm not entirely sure what you are trying to say.

As far as "encouraging the prison-industrial complex along with a host of other serious social, economic, and humanitarian problems", again, I am unsure of what you are trying to say.  By removing government from the equation I am definitely not encouraging prisons of any sort.  To the contrary, I am discouraging people from being sent to prison as observed by BitterTea.  I am proposing that each person must bear the responsibility of deciding for themselves if they wish to consume drugs, alcohol, or other mind altering or even hazardous materials.  Obviously parents would be responsible for their children.  You are going to have to be more specific about all these "serious social, economic, and humanitarian problems" you foresee, because I don't see any except that people must take responsibility for their own persons and their own actions.
17  Bitcoin / Bitcoin Discussion / Re: Senator Charles Schumer Pushes to Shut Down Online Drug Marketplace on: June 06, 2011, 03:09:31 PM
urthermore, I don't think any of us would mind helping law enforcement or in fact anyone to help and find real criminals behind real crimes. Bitcoin is not anonymous - you have to go to great lengths to make it such.
Exactly right. I will to do what I can to help the police catch scammers and crooks who want to steal from people.  The police might use those same tools and techniques to help catch people who use bitcoin to pay for drugs; I can't stop them from doing that.

I personally don't think drugs or gambling should be illegal, because I believe you should be free to do whatever you like with your own body and your own money. But I also believe those are separate issues from bitcoin, and if I felt really strongly about it (it isn't one of my own personal hot-button issues) I would be donating money to, or volunteering to work for LEAP and NORML, not mixing "bitcoin is a great new technology" with "drugs should be legal."


And please do tell who gets to decide what a real crime is?  Murder? Drugs? Money laundering? Tax evasion? Using illegal currencies?

You should definitely help those police catch people using illegal currencies.  After all that is domestic terrorism: http://www.foxbusiness.com/on-air/stossel/blog/2011/03/22/starting-a-new-currency-is-%E2%80%9Cdomestic-terrorism%E2%80%9D .
18  Bitcoin / Bitcoin Discussion / Re: Senator Charles Schumer Pushes to Shut Down Online Drug Marketplace on: June 06, 2011, 03:02:20 PM
You might even offer to help law enforcement better understand bitcoin so they can develop tools and techniques to catch criminals who use it.

Best rebuttal:

And when governments world-wide make bitcoin illegal because of the threat it represents to central banking, will your head explode from the irony?

Exactly.
19  Other / Archival / Re: Silk Road: anonymous marketplace. Feedback requested :) on: June 06, 2011, 02:39:10 PM

Guess what? There's parents like that out there arleady  Shocked. Ever see those vids of parents giving their kids weed or chain smoking cigarettes? I've seen one or two where the parents gave them ecstasy. The kid seems to slightly enjoy himself even, besides his eyes shooting back and forth. Uncommon, but it happens, and in those situations the child doesn't have options to say no. I guess some would say the courts have to decide if the child is mature enough or not to make the decision for himself? Hm. Tricky.

I don't believe anyone claimed that parents and children never make the wrong decision.  However if your proposal is that the Government is more likely to make the correct decision then I will have to disagree wholeheartedly.
20  Other / Archival / Re: Silk Road: anonymous marketplace. Feedback requested :) on: June 06, 2011, 02:26:40 PM

How do you decide when they are mature enough?
Edit: To be more specific. How do I decide if a 7 year old is mature enough if they seem to want to do a certain drug?

Well if you are uncomfortable in deciding if a child is mature enough then why should you be pushing an agenda for a specific age?  Perhaps you should let parents and children make their own decisions.
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