2481
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Economy / Economics / Re: Is now the time to buy?
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on: April 07, 2012, 06:54:35 AM
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Of course I don't know, But it stands to reason that if supply remains constant and the block reward is halved the price should approximately double.
If people are set on buying X dollars worth of coins every day regardless of dollar price then a double makes sense (with some other probably false assumptions). But if people want X coins it all depends on their elasticity of demand and it could be a much bigger increase. I think the first is much closer to the truth, but I think that in addition to a supply decrease we'll experience a demand increase over the next year (and the next and next and next...).
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2482
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Bitcoin / Press / Re: Bitcoin press hits, notable sources
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on: April 07, 2012, 06:48:17 AM
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The magazine Northwest Mama just had an article in their first issue released today. Their website has the current issue, which as of now has the article on page 42. http://nwmama.com/For those who just want a quick summary: Bitcoin is a substitute for traditional money, not just CCs and checks but Yen, EUR, and USD. You should set up an ewallet, people can send you money there and you'll generate some for free, it won't make your computer go slow. Bitcoin is too buggy and won't replace current money for 30 years. And my own note: We're going to need Bitcoin education classes in every city within 2 years or there are going to be some confused folks bouncing around. Please do not think I made that article. I just found it and posted it. I certainly didn't think that. I appreciate link posting. Even though that article is pretty flawed I didn't mean to be critical. People, unsurprisingly even writers, are having trouble understanding. I was just pointing that out.
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2486
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Economy / Speculation / Re: MintChip Vs bitcoin, the currency wars are starting... who will win?
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on: April 07, 2012, 01:49:43 AM
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Early adopters of Bitcoin made lots of bitcoins at a low cost.
Early adopters of Mint Chip will get first dibs at cracking the protocol so they can print (steal) money.
Hmm, they dont necessarily have to steal it: Remember ixcoin, s0lidcoin, etc.. Those forks had a large deflation shortly after released, leading to some quick bucks for the innovators (those commonly miscalled "early adoptors", because the adoption in terms of actual use had not even begun). With all that media attention attributed to Bitcoin, having the canadian GOVERNMENT launching a similar project, could create a (short?) hype with huge deflation as in the early days of Bitcoin. Ill watch closely! P.S.: Does anybody know when the first MintChips will be available and can be exchanged? Yeah, no. That would be like buying a bunch of credit cards or checkbooks when they came out hoping to make money. Think purse, wallet, bucket (that only holds garbage incidentally) not gold, bitcoin.
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2487
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Bitcoin / Project Development / Re: The last few days on GLBSE
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on: April 07, 2012, 01:19:30 AM
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what is all that security worth if any company can default at will without getting into any trouble? there is not much you can do against somebody saying their wallet has been stolen.
Isn’t this what verification is trying to combat, so they cannot stay anonymous? If they say their wallet was stolen, it’s their fault for lax security and have to cover it obviously. That’s why people should invest only with operators they actually trust. for peter lambert, operator of the horribly failed lif funds all personal information is available. yet it helps nothing. So what do people suggest as a solution. I see people complaining that GLBSE isn't doing enough, and other people complaining that it is trying to do too much. What's the balance? What needs to happen to make people comfortable? I'd love to hear what people think. It seems to me that GLBSE or similar can offer real value without verifying companies in any way whatsoever. Let the companies figure out how to build reputations. It might be by levering forum reputation, already running other longstanding business, meeting people in meatspace and pitching your ideas then telling them that they can invest via GLBSE, etc. As long as the market is clear that they make no promise except that they will care for funds in their control and provide usable software continuously it seems fine too me. Now if someone found a way to filter for 'non scams' that would be great, but it doesn't have to be the same entity as the market. To avoid what is essentially spam the exchange could charge a largish fee or deposit for companies before they can make an offering.
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2488
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Bitcoin / Press / Re: Bitcoin press hits, notable sources
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on: April 07, 2012, 12:36:37 AM
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The magazine Northwest Mama just had an article in their first issue released today. Their website has the current issue, which as of now has the article on page 42. http://nwmama.com/For those who just want a quick summary: Bitcoin is a substitute for traditional money, not just CCs and checks but Yen, EUR, and USD. You should set up an ewallet, people can send you money there and you'll generate some for free, it won't make your computer go slow. Bitcoin is too buggy and won't replace current money for 30 years. And my own note: We're going to need Bitcoin education classes in every city within 2 years or there are going to be some confused folks bouncing around.
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2489
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Bitcoin / Bitcoin Discussion / Re: Pre-order Bitcoin Magazine - Finalizing proofs for first issue
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on: April 07, 2012, 12:33:55 AM
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@Matthew
I'm only going to pen these two words ONCE--2013 Bitcoin Calendar (Oops! Three Words)
I feel you and your team are in best position to pull this off. At a price point of $6.95-$9.95 USD (a guess) each, I pledge an order of 10 calendars. If you and your team are keen on this idea, please start another thread.
Sincerely,
~Bruno~
LOL, what would such a calendar have pictures of? Causicious (however you spell them) coins? Pictures of Satoshi?!
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2490
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Economy / Gambling / Re: SealsWithClubs.eu - Active Bitcoin Poker Site, Open To All Players
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on: April 06, 2012, 06:34:42 PM
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The 100BTC tourney is this Sunday at 4pm ET. Just 1BTC to enter.
There is a 5 player 'sit-and-go' tournament available until the big game that gives you just enough (1BTC) to get in the big one. It costs .2BTC to play.
Monday at 9pm ET is a 3BTC twitter freeroll. Follow @sealswithclubs for the password.
Starting today (90 minutes from now) the high hand in the Pond 10/20 game will get bonus chips. 1000 chips for anyone and 2000 if you are on the current weekly leader board.
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2492
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Bitcoin / Bitcoin Discussion / Re: Intro text: Bitcoin, Money and Free Banking
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on: April 06, 2012, 04:19:11 PM
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Very nice.
I thought the worst part is the example of the park for contracts. First, as described you still have to trust the holder if the amount is reached to do the right thing. Second if he has coins of his own he can send to that address to trigger the opening. If it is true that you can write scripts like that it's pretty cool, but a bad way to use it. What should have been mentioned there is that you can give three or more trusted community members the keys so they all have to 'sign' off on any transfer.
The first comments read like they are from 2010.
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2493
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Bitcoin / Bitcoin Discussion / Re: On the glorification of Bitcoin
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on: April 05, 2012, 05:46:39 PM
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For example, a mentally ill criminal with no family or friends is stuck in an institution to protect all the die-hard capitalists on the outside. Who pays?
The die-hard capitalists needing the protection should pay. Nobody in prison is a "user", the people outside are the ones who benefit. However, like Haplo said, in reality nobody benefits because our prison system refines criminals rather than repairing them. This is getting way off topic, but... I used to think that about prison. Now it's clear to me that many of the 'criminals' on the inside are there for the protection and/or service of the criminals on the outside. It's a bonus to them that many degenerate inside making a nice excuse to keep it all going.
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2494
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Bitcoin / Bitcoin Discussion / Re: On the glorification of Bitcoin
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on: April 05, 2012, 05:21:06 PM
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1) Which Magic the Gathering Card has the empty throne on it?
2) Very strong title for a simple thread/article discussing a symbol for Bitcoin. I think we can develop a symbol for bitcoin without a need to "glorify" bitcoin...
ciao
The tone of the article is a little off, but it raises an important issue. If bitcoin is socially considered "nerd money" that won't be as good as "amazingly awesome money".
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2498
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Bitcoin / Project Development / Re: [NSFW] Girls of Reddit's r/GoneWild
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on: April 04, 2012, 03:24:27 PM
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Besides potential shopping heists. A picture is forever even if instawallet or other provider is not. You never know when an image will go viral and bring income for a long time so using your own wallet or something like blockchain.info where you control the keys is a good idea.
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2499
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Bitcoin / Bitcoin Discussion / Re: On the glorification of Bitcoin
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on: April 04, 2012, 03:23:05 AM
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The C word drives me nuts. You can do good or bad stuff with capital, obviously, really really obviously. Right now it is nearly always mixed with violence and it's terrible. But come on, the violence is he problem, not the stuff.
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