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You should donate all of your coins to the bitcoin faucet. Send all of your funds to:
15VjRaDX9zpbA8LVnbrCAFzrVzN7ixHNsC
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Maybe they should just back their currency with Bitcoins instead of introducing it as the national currency?
+1 even the US of A could/should do this. Why not! One day my rent would be 100 bitcoins, 2 months later 1000! |
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They should at least blow it on booze and drugs, it will at least be more useful then the actual protests.
Harumph. I vote drugs and hookers. |
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Congrats! Expensive lessons are always the best.
"Let me try to send a ton of money via a non-standard client and see what happens!"
"Shouldn't we try with like, 0.01 BTC?"
"Fuck no! I'm a programmer! Let's send the whole wallet!"
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That was good times. I enjoyed reading all the old usernames that were smart and long ago abandoned ship.
LOL +1 |
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OK, we'll put it this way then... Bitcoin is hereby decreed to be stable and/or deflationary, meaning it is increasing in value. Goods and services are simply becoming 10 times more expensive relative to bitcoin, and all other forms of money are becoming 9.98 times more valuable at the same time. Your Bitcoin world is safe, fiat currency is still inflating at 2%, and you can go back to sleep  |
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Inflation is the loss of purchasing power per unit, period. I know you are probably one of those "don't confuse me with the facts" people but 2 BTC bought a lot more two months ago, regardless of exchanging it for fiat. That is called inflation.
You can't measure inflation over a period as short as 2 months and with a single metric. What you experienced was volatility. Inflation is a persistent and general rise in price of goods and services. You can not conclusively point to inflation for a change in exchange rate of BTC in a 2 month window. Compared to 12 months prior the purchasing power of BTC is much higher today. So are we experiencing deflation? You can't fix stupid I guess. |
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You may have noticed there's an anti-log faction on this forum. Plus, minus good. Multiplication, division bad. Exponentiation doesn't exist.
Possibly true - if I had put $10k on at $2 and it was +25% to $2.50 in a day - WOO HOO. I'm still working on bringing my average buy price down. Yeah but if you sold that 10k worth of bitcoins when it was at 2.50, you'd be selling them at a nickel a piece Today I see them above $3 and the volume is sufficiently large that the price would not be driven to $0.05. I find it tiresome when people do not know the depth of the market and how it works and/or make silly statements like that. Please try harder. Sorry guys, only basing this on previous performance.. Previous performance is no guarantee of future results. Money is not insured by the FDIC or any other agency, and is at your own risk. |
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How did other people live in Europe deal virtual goods with each other?
The USD on mtgox account can be traded like a virtual goods.
1. Someone who is legally independent from Mtgox sets up an offshore company on the BVI.
2. This BVI company sells the goods named "Mtgox redeemable code"
3. People in Europe buy this redeemable code from the company.
4. If people want to get the money back from Mtgox, just applying a "return" for the virtual goods.
You know, money laundering silly! |
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I continue to hope for the loss of enough people's money to learn their lesson and stop getting GOXXXED!
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Inflation is VERY BAD for BTC.
What makes you think BTC has an inflation problem? Please don't tell me you think the decline from $30 to $2 USD was because of inflationary pressures? Only in the sense that each unit of currency buys fewer goods and services, and has an erosion in it's purchasing power. So, not in the sense that BTC people like to here, only in the "scientific definition" sense. You left this out "Economists generally agree that high rates of inflation and hyperinflation are caused by an excessive growth of the money supply." Bitcoin will never suffer excessive growth in the money supply. Hence, no inflation. Economists aren't generally agreeing about bitcoin. Inflation is the loss of purchasing power per unit, period. I know you are probably one of those "don't confuse me with the facts" people but 2 BTC bought a lot more two months ago, regardless of exchanging it for fiat. That is called inflation. |
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The domain is definitely worth more than 5 BTC...
Everything in this world is worth exactly what people are willing AND ABLE to pay for it. Everything. you also need ability to pay to drive demand, not just a willingness. the fact that i'd be willing to pay $40 billion for a space hotel doesn't help much if i don't have the cash Willing to pay indicates someone, somewhere, has the ability and will spend it; thought that was implied. It was a sense of a market pool of people, not approaching 1 person. In other words, if you put a car on ebay and nobody is willing to pay $25,000, but instead $10,000, then that car is worth $10,000. |
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You may have noticed there's an anti-log faction on this forum. Plus, minus good. Multiplication, division bad. Exponentiation doesn't exist.
Possibly true - if I had put $10k on at $2 and it was +25% to $2.50 in a day - WOO HOO. I'm still working on bringing my average buy price down. Yeah but if you sold that 10k worth of bitcoins when it was at 2.50, you'd be selling them at a nickel a piece |
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GOXXXED AGAIN!!!!
can you explain? No, sorry, but if you do a search for "goxxed" I'm sure it will come up. In a nutshell, Mt. Gox has a tendency to repeatedly "Gox" it's users through a combination of non-communication, lack of professionalism, and being insanely understaffed. Some would say deliberately so, but I think it's more to their naivete. |
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Inflation is VERY BAD for BTC.
What makes you think BTC has an inflation problem? Please don't tell me you think the decline from $30 to $2 USD was because of inflationary pressures? Only in the sense that each unit of currency buys fewer goods and services, and has an erosion in it's purchasing power. So, not in the sense that BTC people like to here, only in the "scientific definition" sense. |
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 Witch Bitcoin Symbol +1 beat me to it lol... I love that people don't know how to read or write on the internets. |
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