WTF ! Founder, Bitcoin ?? So bitcoin is a corporation, right The link points to the now famoulsy stupid article:"Paul Krugman Explains Why Bitcoin Is A Stupid Currency" Wow!! I am glad I can read Business Insider
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Indeed, and this from the Milken Institute Review. Milken, as in Michael Milken, famed eighties junk bond king, Forbes 500 billionaire, white-collar criminal, risk lover, and the guy Gordon Gekko from the movie Wall Street is based on. To be fair, if I remember correctly, Gordon Gekko is based on a mix of caracters including Ivan Boeski, another crook of the 80s dealing in the same murky waters as Milken. I put the quote from Ghandi in my signature in response to the pathetic "greed" speech performed by Michael Douglas in the movie..
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There is no downward pressure unless silver becomes a viable alternative.
This assertion is highly questionnable. Its easy to create what is known as market confusion: this affects negatively all innovations. Again the whole concept of merged mining is counterproductive unless its applied with a distinct purpose like namecoin. Namecoin and bitcoin complement each other instead of competing head to head.
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Hmm, will it really cost 50 $ to have it shipped to EU???
Can't be right...
What shipping option should an EU buyer use on memorydealers?
I have no idea why it says that. I think his shipping is based off of usual products and not a magazine. I'll talk to him about it. Thanks for bringing this up. I wish you the best for this magazine whose time has come. I am waiting for the clarification about overseas shipping to order the first issue.
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Mine for just gold, or mine for gold and silver at no additional cost. I don't have to worry about early adoption because bitcoin has already been early adopted.
Convince me that the downward pressure applied on "gold" (bitcoin) prices by the availability of a competing commodity ("silver") is offset completely by the amount of silver I would mine (remembering that your "silver" will be worthless until it is "adopted", bitcoin still struggling for adoption 3 years after its inception).
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So your point is that if an invention like bitcoin or any monetary innovation does not solve ALL the problems of the existing banking system at once, then it should be rejected: that's a fallacy favoring the statu quo, benefiting the banking cartel.
That sounds like banking lobby propaganda to me. The mention of a so-called " bitcoin elite" that would be comparable to bankers is also typical propaganda technique.
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You are right about differentiating inventors and miners however early adopters (including miners) lifted it off the ground when it was needed. I have heard of projects that never took off because they wanted to solve too many problems. Bitcoin is a technology for decentralized transactions and storing value. It enables breaking the monopoly of the banking system. Thats a huge achievement.
It does not solve the problem of temporal distortion (early adopters benefit more than future generations). I consider it acceptable if future generations of users live with the freedom to choose if and when they need the service of a third party to manage their transactions.
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I'm still waiting to hear of a better method of initial cryptocurrency distribution. OP?
Difficulty was 1 for over a year. Yet the BTC output was as high as it is now. Distribution sucks because of that. Why ? Why werent you mining then ? Personnally I have no problem with the fact that the guys who started the whole thing may have profited from their invention a bit more than the followers. I do have a problem with the banking system stuffing their pockets with everybody else's wealth because there is a single currency policy AND a monopoly of monetary creation: bankers never invented anything useful but more ways for themselves to get richer and richer.
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I posted in this thread which is more general (not focusing only on mining income): https://bitcointalk.org/index.php?topic=54645.20It seems that in Europe, bitcoins earned thru mining coud be subject to an 8% tax on the amount sold (if and when they are sold for euros or dollars). That's assuming bitcoins are treated as a digital commodity (like say prime numbers) similar to gold because of their limited supply (unlike prime numbers). Bitcoins cannot be treated as securities imho because there is no identifiable issuer.
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Et bien sûr, il n'ont pas manqué de qualifier bitcoin de système de Ponzi.
S. Laborde remet ça sur le tapis à chaque fois bien que j'ai tenté de lui expliquer ce qu'était bitcoin et ce qu'était une pyramide de Ponzi. Comme son "projet" vise à la résolution du problème de l'asymétrie temporelle entre les générations, il tire sur toute innovation qui ne s'attaque pas à ce problème. Bitcoin résout le problème de la centralisation de la finance et c'est déjà énorme: personne ne demande à une innovation de résoudre TOUS les problèmes. Evoquer Ponzi en parlant de bitcoin, c'est ce qu'on appelle un sophisme : il faut faire revenir Frédéric Bastiat !!
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Le retrait coûte peut être 15 € mais pas le dépôt: tu déposes des euros (c'est gratuit), convertis en bitcoins et tu les dépenses, normalement il n'y a pas besoin de retirer souvent des euros !
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Pour ceux qui ne suivraient pas la revue de presse du forum en anglais, je crois utile de maintenir un thread sur les articles d'une source "notable" (selon le mot de J Garzik) en français. N'hésitez pas à poster ici ceux que vous trouverez dans la presse ou autre media grand public (ou qui adresse un public au-delà de la communauté du forum bitcoin). Je commence donc avec un article dans la revue Paris Tech Review: http://www.paristechreview.com/2012/01/20/bitcoin-devise-complementaire-universelle/
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Interesting thread. I am writing to the tax authorities of France to ask them if bitcoins can be treated as "digital gold", i.e just like gold for tax purposes. The argument I am making is that bitcoins cannot be treated as a security nor as a currency since there is no issuer. I cite the 1998 European Directive that states that gold as a store of value is exempt of VAT so I have the benefits of two options to chose from:
1/ 8% on the amount of the sale (for instance when selling bitcoins that I mined)
2/ 31.3% on capital gains when I sell if I can document my prior purchase. In this case I get a 10% discount for each year of the holding period starting with the third year (i.e. no more taxes after a 12 year hoolding period). If I cannot document the purchase then I am going with the 8% rate on the total amount of the sale.
I'll keep you posted on the answer I get from the administration.
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I am positively interested and hereby commit 500 USD per your proposal. Thanks for this initiative.
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You are right: things are changing because the public image of the banks is deteriorating rapidly with the financial crisis and the global awareness of their wrongdoings. However the US must work hard and with all their clout to obtain disclosure from the swiss banks. The swiss are still showing the middle finger to their neighbouring countries to this date regarding tax evasion.
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Traditionnallly tax heavens like Swxitzerland or Liechtenstein are unwilling to cooperate with ANY foreign govenrments when it comes to protecting their dough. Not to mention the 30 former British colonies that are in the same business of helping the 1% escape the taxes that hit the 99%. For them, its not "fuck the west" its "fuck the rest of the world". So you have plenty of options to choose from.
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may I suggest "In cryptography we trust" or "In math we trust". THEN i would wear it ! Sorry don t know the "artist".
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Pourquoi ne pas faire un simple virement ? bitcoin-central.net est gratuit.
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If I may quote someone in another thread, my favorite answer to this question:
"Internet money for smart people. You would'nt be interested."
Obnoxious but sure to raise earnest eyebrows and more questions.
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