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501  Bitcoin / Project Development / Suggestion: Full Page Advert in The Economist and Wall Street Journal on: June 07, 2011, 01:30:02 AM
If a few early adopters chip in, we should be able to afford this, now that BTC has almost hit 20 USD!

The advert will be aimed at decision makers who are not familiar with Bitcoin yet.

The point of the advert is to pre-emptively debunk gross misconceptions about Bitcoin.

If the first thing they hear about Bitcoin is that it's "an online form of money laundering", then this misconception will stick. And it will be perpetuated by mainstream media.

If the first thing they hear about Bitcoin is that it's "an open, decentralised accounting system where all transactions are public" they are going to have a hard time imagining it is "a form of money laundering"


But we need to be fast!

I reckon it's 2-4 weeks max now, before the tabloids are all over Bitcoin. We are at a pivotal point now. Let's do everything in our power to make Bitcoin successful.

wanted to bounce this idea off the community first before posting a bounty...
502  Bitcoin / Bitcoin Discussion / Re: BitCoins: Four Objections on: June 07, 2011, 12:54:44 AM
Maybe you should pay with Namecoins instead of Bitcoins, because they have a use value in addition to an exchange value.

In that way they are even more similiar to gold than Bitcoin.

503  Other / Politics & Society / Re: Are you going to pay taxes? on: June 07, 2011, 12:42:18 AM
yea, I'll pay taxes.

The free healthcare that I get in this country has saved my life on several occasions... if it was like the American system then my parents would have lost their house long ago.

A healthcare system that is only free for those who have serious/catastrophic conditions can be funded by a $100/month compulsory insurance rather than a 50% tax on everyone's income.

The problem with a system where everything is free for everyone, even for people who could easily afford to pay $5000 for a IVF treatment out of their own pocket, is that people overuse it, leading to ever increasing costs and eventually, severe rationing or state bankruptcy.

Anyhow, the American public healthcare system isn't shit because there is a lack of government funding. It's shit because it's wasteful.  The American government spends the roughly same amount of money per capita on healthcare as the German government. No joke.  (source: WHO).
504  Other / Politics & Society / Re: Are you going to pay taxes? on: June 06, 2011, 11:28:18 PM
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Oh man... now I want to move to Switzerland. They've got good skiing too.

And quite an active Bitcoin community. The first ever IRL Bitcoin meetup was in Zurich, although I missed it unfortunately.  

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This makes me wonder what the laws are for people with dual citizenship.

Do you have to pay taxes to BOTH countries?

I'm not Swiss, but I don't  have to pay taxes in my passport country if I don't live there.  

If I earn in income in Switzerland while living in my passport country, then yes, I pay the difference.

Unfortunately, the US is unique in its US=World attitude of taxing its citizens wherever they live.

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Probably not, because then the only way to escape US taxes would be to renounce your citizenship. That sounds difficult.

Actually, not even renouncing your citizenship may save you from certain taxes.

You should talk to the forum member Mike Gogulski, who went the whole way and became stateless.  
505  Other / Politics & Society / Re: Are you going to pay taxes? on: June 06, 2011, 11:06:38 PM
No I'm not.

Here in Switzerland there are no taxes on capital gains.   Grin

506  Economy / Economics / Re: Many Bitcoin Clones on: June 06, 2011, 09:01:17 PM
If bitcoin is open source software, has anyone modified it to make a slightly different currency?

The supply of bitcoin is limited, but the supply of bitcoin alternatives is very large.

Someone could also develop a currency that many people see as better, and this would displace bitcoin (Ex. friendster got replaced by myspace which got replaced by facebook).

On the other hand... ebay, wikipedia, and youtube never got replaced.  

It's much easier to switch to a different social network than a different currency.
507  Bitcoin / Bitcoin Discussion / Re: Senator Charles Schumer Pushes to Shut Down Online Drug Marketplace on: June 06, 2011, 08:29:30 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 same way that air travel's path to success was to work within existing regulations? (before manned flight was invented, people owned all airspace above their land).

No, regulations will need to adapt to new technologies. Not the other way around.
508  Other / Off-topic / Re: Swiss bank recommendations? on: June 06, 2011, 08:07:23 PM
Zürich Kantonalbank requires a 100,000 CHF
I know someone with an account at a banque cantonale, I don't think he deposited *that* much.
Is that person living outside Switzerland?
509  Bitcoin / Bitcoin Discussion / Re: The Bitcoin Sun Edition 4: The Rise of Namecoin (0.02 btc) on: June 06, 2011, 05:52:04 PM
Oh no, my browser crashed because of fucking flash player (on a different site) while I was waiting for the transaction to arrive.  Now I'm going to have to pay another 0.02 btc.  Consider the first payment a donation  Smiley
510  Bitcoin / Bitcoin Discussion / Re: You know what would bring about the destruction of Bitcoin? Underage pornography on: June 06, 2011, 04:54:59 PM
The world market for commercial CP is rather small because it's, well, a "niche product", and most producers of CP are sadists who don't do it for commercial gain.

commercial CP will only ever constitiute a tiny, negligible part of the Bitcoin economy.

once the low-hanging fruit have been picked by law enforcement, CP trading is probably going to happen over extremely secretive darknets and friend-to-friend networks, where it's out of sight, out of mind, as far as politicians and mainstream media are concerned.

That's why I don't think it's going to destroy Bitcoin.

Also, there is probably tons of CP bouncing around the Tor network and that hasn't brought about its destruction.
511  Bitcoin / Bitcoin Discussion / Re: What if the US creates a competing currency? on: June 06, 2011, 04:40:55 PM
Hah.

Most politicians still don't get bittorrent, a decade after it was invented.

Do you expect them to get the concept of a p2p cryptocurrency? 
512  Other / Off-topic / Re: Swiss bank recommendations? on: June 06, 2011, 02:55:18 PM
If you don't want an international bank, go with the Zurich Kantonal Bank. I am pretty satisfied with them. Their customer service is not as good as UBS but they are a little cheaper.
513  Economy / Trading Discussion / Re: How worthy an investment are bitcoins? (without references to mining) on: June 06, 2011, 02:44:42 PM
Bitcoin valuation is growing exponentially for some time know, the only question here is how long will it keep growing at existing exponential rate.

That's not the only question, albeit a very important one Wink. Will it be linear after that? polynomial? logarithmic? geometric? periodic? Will it be positive or negative?

It will always be positive exponential, reflecting the growth of the world economy. Perhaps 3-5% per year. Perhaps up to 20% if there are any singularities.
514  Bitcoin / Bitcoin Discussion / Re: Senator Charles Schumer Pushes to Shut Down Online Drug Marketplace on: June 06, 2011, 12:16:59 PM
If law enforcement can develop tools and techniques to catch criminals using bitcoin they will have effectively proved that bitcoin's implementation does not provide adequate anonymity or security.

I disagree.

Just like Tor, bitcoin can never be 100% anonymous. An investigation team with enough manpower and time on its hands can track down any bitcoin user, with one exception: The bitcoin user who never spends a single bitcent in his wallet.dat.  But what use are bitcoins if you can't spend them?

However it is anonymous enough for most people going about their daily honest business.  Discovering the identity of bitcoin users takes a large amount of resources, so governemnt will only ever bother going after serious criminals, while ordinary people can enjoy the benefits of financial privacy.


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Whether or not you agree with what certain people do with bitcoin, it's purpose is to prevent ANY central authority from having control over the financial system.  This includes governments.  If a government has a way to prevent, manipulate, or track transactions at will, then bitcoin will have no purpose whatsoever.

They can't control Bitcoin itself. All they can do is prevent selected individuals from spending their bitcoins using traditional police work.

515  Bitcoin / Bitcoin Discussion / Re: Large German lobby organization supports ban on Bitcoins on: June 06, 2011, 12:31:08 AM
The guy who wrote this article, Christoph N. v.Dellingshausen, lists "Querdenker" (= unconventional thinkers) in the "Wants" section of his XING profile:

http://www.xing.com/profile/ChristophN_vDellingshausen

Unconventional Thinkers Huh  Yeah he could surely learn a few lessons from them Cheesy
516  Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen. on: June 05, 2011, 07:41:42 PM
What makes you think speculation on stocks and currencies is not making society better?
It's entirely neutral - neither adding nor subtracting wealth from the economy.

This is incorrect because money ≠ utility.

True, commodity speculators are not adding or subtracting the commodity from the economy.

But they are adding utility to the economy by giving more people access to that commodity at a time when they desire it.

That is also a form of added wealth.
517  Bitcoin / Bitcoin Discussion / Re: Decentralized Currency Exchange Needed on: June 05, 2011, 06:29:59 PM
bitcoin-otc could take over that function.  the heart of bitcoin-otc is the GPG web of trust which could be ported to any website/chatroom.
518  Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen. on: June 05, 2011, 06:24:12 PM
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There's an important point here which I have made which I'm not sure you have understood: The details, at this point, are irrelevant. Bitcoin is the first currency to solve the problem it solves. No other currencies of that nature can possibly beat the enormous momentum that bitcoin has. No bitcoin alternatives will survive for the same reason no alternative WWW protocols will survive, or no alternative internet protocols will survive, or no alternative set of microprocessor instructions will survive, etc., UNLESS they solve a different problem than the problem solved by bitcoin.

oh just like how no social network could possibly overtake friendster.
or no payment method could overtake paypal.
I see your point.

Network effects for Bitcoin are stronger than for Facebook.

Joining the losing social networking site results in a minor inconvenience the day you switch to the winning one.   

Joining the losing p2p cryptocurrency results in substantial financial losses the day you switch to the winning one.
519  Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen. on: June 05, 2011, 02:04:52 PM
I don't wanna be part of a new elite replacing the old one. Fuck the yachts. If I become a Bitcoin Billionaire I'm going to open entrepreneurial academies and startup incubators in developing countries. 
520  Bitcoin / Project Development / Re: Letter to the EFF on: June 05, 2011, 01:41:20 PM
How disappointing.  Seems like the EFF is case of "dogs that bark don't bite".  A charity that doesn't practice what it preaches will not be getting my donations anymore.  Perhaps I'm being too harsh?

Anyhow, soon Bitcoin won't need the EFF to speak out for it anymore.  The money will take care of the talking.
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