The only concern I have with dark pools is the incomplete information the market gets at all times about the supply and demand where someone might see a significantly less bids than asks and then speculated that the price is likely to drop only to get surprised by a ton of dark bids and get gobbled up by the big fish, losing their Bitcoin and seeing their price rise instead of fall.
If someone can explain to me their theory why that is good for the market I'd really appreciate it.
I don't think it's good, or bad, just irrelevant. A lack of dark pools might cause some to instead place their orders on the open market, but others would just use bots instead. As well, most or all trades on #Bitcoin-OTC do not add pricing information to the market. I don't think anyone is morally obligated to broadcast their trade information, before or after it happens. Now, I'm not a fan of the current implementation of the dark pool on MtGox, but that will be going way in favor of "iceberg" style orders, I believe. |
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I truly have no idea what you're talking about or how it is applicable to the world the rest of us inhabit.
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Yes, taxation is slavery. A portion of your time, represented by money, is taken from you by force or the threat thereof. Well, you can choose not to earn taxable income, to not work. I don't think chattels enjoyed as much choice in that regard. Barter is taxable in the United States. Unless you're subsisting completely self sufficiently, I think you will always have a tax obligation. |
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it's does not :-|
i mean, if i give my service of graphic design, as many others for example, there will be sufficient market, i mean, there's people with BTC how needs a graphic desing and will pay with BTC?
anyway, i drop the question in the air... the next thing is test my theory, in few months i'll mount my own business like freelancer, accepting only my national currency and Bitcoins.
I plan on doing the same. I believe there are many people who will gladly pay for goods or services in BTC, especially if they cannot easily get them elsewhere with other currencies. There's always the effect of Gresham's law, that people will spend "bad" money (fiat) and save "good" money (Bitcoin, gold), but I think especially in this small economy, people are willing to stimulate it by spending what they don't necessarily need to save. |
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My initial discovery of bitcoin happened because I was looking for software I could use for trading games / trade in games.
I specifically wanted players who owned trading houses to be able to set their software up to buy low and sell high. That is, I assumed many players were not really interested in passing on low prices to the masses, they would prefer to buy low offers and sell to high buy-offers rather than to tell someone who offered a high price "oh gee guy, didn't you see that lower offer, here, I'll let you have the low offer instead of grabbing it myself and re-selling to you at the price you are offering".
I can understand that if other players think your exchange / trading-house does in fact play 34th-street Santa for them that could be a marketing point attracting people to yours instead of to a competitor, heck the 34th-street Santa movie was all about that. But guys, it was just a movie! Does Macey's *actually* tell Gimbels?
Dark pools are such a clever way of obfuscating this that I figure the very same players my original design was intended for will want to also implement dark pools so they can pretend they are not actually buying low and selling high but are in fact trying to play Santa but being thrown some roadblocks by dark pool users but gee our customers demand dark pools so what can we do...
-MarkM-
More insinuations that MtGox is engaging in fraudulent behavior. Mark, I think it is best if you come out and make your accusation instead of skirting around it like a tool. However, I don't think the community will take kindly to unfounded accusations, so I hope you have some evidence. You realize that you're free to not use MtGox if you believe they are cheating their customers, right? This is not a government, you have a choice in the matter. I'm sick of people bitching about how they have a "monopoly". Go start your own fucking exchange, this is a free market! |
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Taxes disgust me. It puzzles me that so many people happily jump through all the hoops obviously designed to fuck the average person in favor of the tax lords and big businesses. I'm not making any money on Bitcoin, but if I were to do so, wouldn't claim it unless absolutely necessary. I see it as an amazing new tool to avoid the slavery of taxation. Yes, taxation is slavery. A portion of your time, represented by money, is taken from you by force or the threat thereof. As far as drugs go, here's what I have to say on that... Or, maybe it is the case that an effective anonymous drug market makes things safer for all parties involved. For instance, Silk Road has built in reputation, escrow, dispute mediation, and pseudo-anonymity. ReputationThis helps buyers by making sure they are ordering from trusted individuals, and also gives them recourse against bad trades. I'm not sure if there is anything preventing abuse by malicious individuals that want to harm a reputation, but I don't see it as that large a risk. Consider the alternativeIn real life, you may know nothing about the previous trades of a dealer or his level of trustworthiness, increasing your risk. EscrowThis protects both buyer and seller from fraud. Consider the alternativeOnce you hand over your cash, it's gone. Dispute mediationIn the event that the buyer reports that they are not satisfied, site staff attempt to resolve the dispute. No idea how they do this, but the fact that it is available is all that matters. Consider the alternativeIf the buyer or seller gets ripped off, they cannot go to the police as their trade is illegal. What generally happens is that one or both parties resort to violence. Pseudy-anonymityThe buyer must supply a shipping address, and the seller must have a return address, but there is no reason that either of those addresses must be explicitly associated with the individual more than the time necessary to send/receive the shipment. This further provides protection from violence, both from the other party and state police forces. Consider the alternativeIt's hard to stay anonymous when you have to meet someone in person. Not only does this allow for the use of violence against you, but doing so also potentially offers yourself up to undercover police for arrest or worse. What's really more dangerous, Silk Road or the "war on drugs"? One helps facilitate non-violent trade, the other produces a militarization of the police and criminals. |
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Yeah mark, you nailed it...  |
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Here is another way to look at it: Would you to pay $10 out of your pocket to destroy $4990 of someone else's money?
The example above would be considered cruel by some. Yet the same people would argue that declining the deal in the first post is perfectly ethical.
That's not a good analogy. In this case, they know that their money hinges upon you accepting the offer. Offering an unequal distribution carries a higher risk of rejection, but higher potential for reward. |
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He's right, if you dont have a 3k usd$ in equipment for a mining rig you cant enter easily to the bitcoin economy :-/. Who we can fix this issues? :-|
This is stupid. Mining is just one small part of the bitcoin economy. It's like saying if you don't mine gold or print dollars you can't participate in the gold or dollar economy. |
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No. It's run from Japan, and what does that have to do with the dark pool? Many exchanges have areas where you can place "private" bids of one sort or another.
Which do you think is and/or should be true? "That which is not prohibited is permitted" or "that which is not permitted is prohibited"?
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This guy is a douche who has no business talking to people about Bitcoin, since he barely even understands it himself. He actually referred to the unauthorized use of his employer's computers as an "investment".
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Or, maybe it is the case that an effective anonymous drug market makes things safer for all parties involved. For instance, Silk Road has built in reputation, escrow, dispute mediation, and pseudo-anonymity. ReputationThis helps buyers by making sure they are ordering from trusted individuals, and also gives them recourse against bad trades. I'm not sure if there is anything preventing abuse by malicious individuals that want to harm a reputation, but I don't see it as that large a risk. Consider the alternativeIn real life, you may know nothing about the previous trades of a dealer or his level of trustworthiness, increasing your risk. EscrowThis protects both buyer and seller from fraud. Consider the alternativeOnce you hand over your cash, it's gone. Dispute mediationIn the event that the buyer reports that they are not satisfied, site staff attempt to resolve the dispute. No idea how they do this, but the fact that it is available is all that matters. Consider the alternativeIf the buyer or seller gets ripped off, they cannot go to the police as their trade is illegal. What generally happens is that one or both parties resort to violence. Pseudy-anonymityThe buyer must supply a shipping address, and the seller must have a return address, but there is no reason that either of those addresses must be explicitly associated with the individual more than the time necessary to send/receive the shipment. This further provides protection from violence, both from the other party and state police forces. Consider the alternativeIt's hard to stay anonymous when you have to meet someone in person. Not only does this allow for the use of violence against you, but doing so also potentially offers yourself up to undercover police for arrest or worse. What's really more dangerous, Silk Road or the "war on drugs"? One helps facilitate non-violent trade, the other produces a militarization of the police and criminals. |
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How would Namecoin become a threat to Bitcoin?
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Am I understanding correctly that this supports encryption from one client to the other, without the server being able to decrypt? That would be really cool.
Yes, it supports the use of GPG for end to end encryption. If have each other's private key you can talk over google chat without google being able to see what you're saying. It is very nice! |
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We are continuing to work on an easy redemption tool (it will be a flash applet that uses the webcam to send the bitcoins to your address fee free). Why Flash? My understanding is that phones can read QR-Codes without it. I hope you plan to make it a HTTPS-only function (with a proper cert)... I assume the flash app is for desktops and laptops with webcams. Another alternative would be to import a photo of the barcode, taken with any digital camera. |
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A protest I'd like to see video of: Burning W-2 forms in front of an IRS office.
Domestic terrorist! |
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True... Instead of the black hoodie, you should dress up as Uncle Sam. As you're burning it, you can yell " This is a patriot's act!" or similar. I'd still not recommend burning things anywhere near a military recruiting center, you're liable to be labeled a terrorist and have warrantless (illegal) wiretaps placed upon your phones.  |
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IMO, a courthouse or legislature building would be a more fitting place to burn the Patriot Act.
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... nobody wanting to fill it back up?
it's been empty at least for a week. i wanted to send back the .02 cents but when the popup said it wants .01 fees i gave up Oh, I was mainly talking about people in the community that have a large(r) amount of bitcoin. Historically it has been funded by donations (I think). I've added a few coins to get it started back up. |
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Did somebody clean out the faucet, or is it just empty due to an influx of new users and nobody wanting to fill it back up?
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