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181  Other / Politics & Society / Re: Social security is the govs way of saying you are too stupid to save your own $$ on: March 24, 2013, 08:46:53 PM
A society without any social security at all is not a futuristic/libertarian concept at all, but today's reality for a large part of Earth population. You are old/sick/stupid/have no money - you die. Very simple and good from natural selection point of view. The problem is those societies are universally much worse off than societies with social security. So the empirical evidence strongly suggest in favor of social security.

I think you may be suffering from sample bias. Where are all those societies with no social security?

http://beta.globalmarch.org/news/201110.php
"Taking into account those who are not economically active, it is estimated that only about 20 per cent of the world’s working age population and their families have effective access to comprehensive social protection systems."

"n sub-Saharan Africa, only 5 per cent of the working-age population is effectively covered by contributory programmes, while this share is about 20 per cent in Asia, the Middle East and North Africa."
182  Other / Politics & Society / Re: Social security is the govs way of saying you are too stupid to save your own $$ on: March 24, 2013, 08:28:51 PM
A society without any social security at all is not a futuristic/libertarian concept at all, but today's reality for a large part of Earth population. You are old/sick/stupid/have no money - you die. Very simple and good from natural selection point of view. The problem is those societies are universally much worse off than societies with social security. So the empirical evidence strongly suggest in favor of social security.
183  Bitcoin / Development & Technical Discussion / Re: Decentralised crime fighting using private set intersection protocols on: March 24, 2013, 07:44:42 PM
Seems unpractical. All the perpetrator has to do is to launder his tainted coins (by using a mixer service, or by exchanging them for gold/fiat and back) before it goes into blacklist.

It's typical g$$gle attitude. Spy on everything that moves.
184  Other / Beginners & Help / Re: Bitcoin is out of control, soaring 57% this week on: March 23, 2013, 03:34:15 AM
It may be a big bubble, but there are so reason for higher pricing. However, how many people use Bitcoin for actual payments and how many are only investors?

nobody in their right mind will exchange bitcoins for anything else, its like selling a golden goose
185  Bitcoin / Bitcoin Discussion / Re: Why bitcoin exploded in price on: March 20, 2013, 01:29:32 AM
I agree Bitcoin is not a good life savings plan at this volatile stage in its life. But as the number of users increases, I suspect it will stabilize.

Yes, you shouldn't buy when it unrespectably fluctuates between $45 to $62. You should buy when it respectably stabilizes within $16,300-$16,400 range.
186  Economy / Service Discussion / Re: 2013-03-15 BTCGuild Scammed of 1.2k coins on: March 16, 2013, 05:02:11 AM
looks like half of those 1200 coins went to asicminer?
187  Alternate cryptocurrencies / Altcoin Discussion / Re: Alternative Block Chains : be safe! on: March 14, 2013, 01:55:02 AM
Thank you Gavin.

The only things I might add is that "use a different password" isn't limited to exchanges, but applies to forums, emails, and even pools Wink , and that some antivirus heuristics seem to hate anything that has mining code in it and isn't explicitly whitelisted.

Having different and strong password on each site can be achieved by only one method: using a master password like lastpass. And master password is a huge security risk. To access a low-security site you need to put at risk all of your data. If a keylogger gets your master password, all your bases immediately belong to the hacker. Yes, there is 2factor auth, but I bet 99% of master password users dont have it.
188  Alternate cryptocurrencies / Altcoin Discussion / Re: Namecoin Price Action on: March 14, 2013, 01:40:49 AM
I think we need a namecoin fork, some parameters need tweaking
189  Bitcoin / Bitcoin Discussion / Re: In re Bitcoin Devs are idiots on: March 13, 2013, 01:45:01 AM
Studied the IRC logs, and it was Luke Jr who first uttered the 4 letter word starting with F, first proposed a viable solution, and first took practical steps to alleviate the problem. However crazy that guy appears to be, he's extremely smart. But I sometimes think his religious and tonal rants are just trolling.
190  Other / Off-topic / Re: What we've learnt today. on: March 07, 2013, 02:21:44 PM

After dad passed away in 2010, I found an old pic of mom (circa 1968(?)), standing in one of those claw-footed cast iron tubs, nude. No, I don't view it as sometime sexual, for she's not my type--a tad heavy, though not obese.

Today I learned that Phinnaeus Gage is a sicko perv
191  Other / Off-topic / Re: What we've learnt today. on: March 07, 2013, 02:18:47 PM
I learned Nigerian scammers always mention 'Nigeria' in their emails. Why?

Mandated by Nigerian law, like "Made in China" label is mandated by Chinese law?
192  Bitcoin / Press / Re: 2013-02-23 cnet.com - Need Bitcoins? This ATM takes dollars and funds your accou on: February 24, 2013, 07:32:49 PM
Right now demand for bitcoins far outstrips the supply, so many people will drive to the bar only to get some coins, and maybe they will celebrate their new purchase with a beer or two
193  Bitcoin / Bitcoin Discussion / Re: Potential fix for Apple Bitcoin ban on: February 12, 2013, 09:43:28 AM
Actually you could create a HTML5 wallet that would work on the iphone.

I tried to do this but the main think you need is access to the camera so that you can capture QRcodes to make payments. At the time most phone browsers didn't support javascript access to the camera. This might be changing. See. http://stackoverflow.com/questions/9431475/html5-camera-access.

This would completely bypass itunes but still give users the functionality of the android based mobile wallets.

Say, one app which has nothing to do with bitcoin, can capture an image and upload it to a web site. Then bitcoin app can send "take a picture" signal to the first app, and then download the image. If they can't talk directly within the iPhone, maybe they can use an external website for communication.
194  Economy / Speculation / Re: What is your outlook (price target) for bitcoin in the next 2 years ? on: February 11, 2013, 12:30:38 AM
Not saying this will always be the case. In distant future maybe bitcoin will become universally adopted, and some very powerful entities will stand to defend it. Mining for profit will no longer be the main motive. In this case, maybe only 1% of miners will be online consuming power, with 99% sitting in reserve ready to divert an attack. And a fleet of F-1515 tachionic interceptors ready to nuke malicious miners ...
195  Economy / Speculation / Re: What is your outlook (price target) for bitcoin in the next 2 years ? on: February 11, 2013, 12:18:28 AM
Fair value of a bitcoin = (cost of all mining equipment) * 0.51 / (number of bitcoins in existence) ~= $20M*0.51/11M ~= $1

Because this is what it costs to destroy the bitcoin. Would you risk investing $100 into something that could be destroyed for the cost of $1, without any risk of legal action or war, as with fiat currencies?

Satoshi argued that if anyone had the resources to launch a 51% attack, she will be better off just mining bitcoins and profiting from it. The fallacy here is that profit and double-spending are attacker's only motive. But there could be a lot of more powerful motives to destroy the bitcoin. A competing blockchain. VISA and PayPal. War on drugs. War on tax evasion and money laundering.


If you wanted to do a 51% attack you'd have to have as much mining equipment as the rest of the network combined.

That would change your very tenuous equation to

Fair value of a bitcoin = (cost of all mining equipment) / (number of bitcoins in existence) ~= $20M/11M ~= $2

Agree )
196  Economy / Speculation / Re: What is your outlook (price target) for bitcoin in the next 2 years ? on: February 11, 2013, 12:09:21 AM
Fair value of a bitcoin = (cost of all mining equipment) * 0.51 / (number of bitcoins in existence) ~= $20M*0.51/11M ~= $1

Because this is what it costs to destroy the bitcoin. Would you risk investing $100 into something that could be destroyed for the cost of $1, without any risk of legal action or war, as with fiat currencies?

Satoshi argued that if anyone had the resources to launch a 51% attack, she will be better off just mining bitcoins and profiting from it. The fallacy here is that profit and double-spending are attacker's only motive. But there could be a lot of more powerful motives to destroy the bitcoin. A competing blockchain. VISA and PayPal. War on drugs. War on tax evasion and money laundering.
197  Bitcoin / Bitcoin Discussion / Re: "Introducing Amazon Coins: A New Virtual Currency for Kindle Fire" on: February 05, 2013, 08:02:49 PM
This is Jeff Bezos succumbing to megalomania decease
198  Bitcoin / Bitcoin Discussion / Re: How people will use bitcoins to buy real estate in 2020. on: February 05, 2013, 02:25:41 AM
Highly unlikely bank will loan money for long term with stocks as collateral. Nobody will write stock options for 30 years.

>> Or at any time (if stock tanks big time, for example) you just walk away and keep your house and have no any debts.

Are you seriously thinking banks are that stupid?

>> Larry Ellison

Larry and the likes use loans to circumvent insider trader regulations. As an insider, he can't sell stocks any time he wishes, but he can take a loan at any time.
199  Bitcoin / Hardware / Re: [Avalon ASIC] Batch #2 pre-Sale Thread on: January 31, 2013, 09:36:20 PM
You don't get it. nzang contacted his Triad friends, they located and murdered that Jarzik guy, but not before they used hot iron decryption algorithm to extract all his passwords. Now they are posting from his Twitter account, it's that simple!
200  Bitcoin / Hardware / Re: [Avalon ASIC] Batch #2 pre-Sale Thread on: January 31, 2013, 12:49:37 PM
you have 43 C. in your house?  Shocked

Yup, when I'm not home
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