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1363
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Bitcoin / Bitcoin Discussion / Re: How do I proceed when MtGox refuses to communicate?
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on: July 03, 2011, 08:43:49 PM
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I don't think asking regulators to fix mess bodes well for bitcoiners. It may be the quick-fix solution but it will be damaging in the long term.
There's such a thing as regulatory capture and Japan is famous for it. I believe they have a term called Amakudari, which means "descent from heaven" for politicians that get crushy job in the companies that they used to regulate. That means corruptions wholesale.
It is easy to go after people after being very furious, but it is hard to be cautious about effects of your actions that could have a vast effects on others(and you) in the future.
In my case, if I have lot of money in MtGox, I would try to get it for a long time. Then forget it and take my loss. If I do get my money, I might as well leave MtGox and moves on to other exchanges and decentralize my accounts to the various exchanges and write a long letter to people as to why they should switch their asses to other exchanges. This will hopefully get their asses to other exchanges.
Don't forget that the biggest loser in the exchange crisis is MtGox and the biggest winners are the other exchanges. Inflicting loss for extremely poor service will discipline MtGox just as the security issue discipline MtGox.(With the extreme password security for example)
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1367
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Economy / Economics / Re: Is spending bitcoins an example of a prisoner's dilemma?
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on: July 02, 2011, 10:27:51 PM
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Actually, what you are looking for is Stag hunt. The original stag hunt dilemma is as follows: a group of hunters have tracked a large stag, and found it to follow a certain path. If all the hunters work together, they can kill the stag and all eat. If they are discovered, or do not cooperate, the stag will flee, and all will go hungry |
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1368
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Bitcoin / Bitcoin Discussion / Re: Bitcoin too valuable to spend
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on: July 02, 2011, 10:13:32 PM
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If an asset is expected to rise, people will hoard it given the choice. It's only human to aim for realizing the gains of your most productive assets.
If you convert all of your currency into bitcoin, hunger will force you to spend them, no? Or you may finds goods and services that you really want, but you have like 4000 bitcoin and this thing cost 1.50 BTC. |
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1369
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Bitcoin / Bitcoin Discussion / Re: Bitcoin too valuable to spend
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on: July 02, 2011, 10:12:09 PM
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Time preference means some investors will exhaust their patience and cash out.
Also, newbies that brought into bitcoin will have an irrational aversion to loss, which explains the current price stability.
Let not forget that investors' return is dependent on the size and growth of the economy so some will be interested in boosting productive capacity of the economy.
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1371
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Economy / Speculation / Re: Why does it keep falling ?
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on: July 02, 2011, 12:38:26 PM
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Personally I'm getting out now while there is still a decent profit on it. The bubble is bursting.
After the crash people thought they were buying in low and that kept it at it's price, now it's dropping to it's real value. It would be stupid to pretend to know what the real value is, but it's certainly not $17.
You mention a bitcoin bubble? You get a bitcoin bubble comic! |
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1372
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Economy / Economics / Re: Had a conversation with my Democrat friend today.
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on: July 02, 2011, 04:16:50 AM
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People might be weakened and beaten but they are usually never stupid.
Amen. I can honestly say that I've known very few truely stupid people, but truely ignorant people are f'ing everywhere I go. It is not a crime to be ignorant. In fact, most of humanity is ignorant of programming. Programmers may be force multiplier and harbringer of extreme efficiency, but we have to relies on auto mechanics, laundrymat owner, and nail saloon for our girlfriends. We bitcoiners are specialist in bitcoin but will be ignorant about pretty much anything else, except perhaps programming and some entrepeneurship. |
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1375
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Bitcoin / Bitcoin Discussion / Re: Who is willing to create
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on: June 30, 2011, 05:48:31 PM
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The image already existed in its current state and licensing before this post was created. She just wanted to share her work. Don't bitch because you don't agree with the specific license she chose, I can smell the BSD vs GPL bloodbath in the air already and it smells like shit.
Hostility much? I don't give a shit about what license you choose. I am just pointing out how licenses like that limits the spread of a work. |
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1376
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Bitcoin / Bitcoin Discussion / Re: Who is willing to create
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on: June 30, 2011, 05:45:21 PM
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The bitcoin enterprise is non-commercial. There is no overarching bitcoin company that makes profit from bitcoin use.
That's nonsense. Instead, what we have is a community of self-interest and sometime altruistically motivated user. So we're commercially oriented community of bitcoiners. |
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1377
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Bitcoin / Bitcoin Discussion / Re: Who is willing to create
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on: June 30, 2011, 05:43:02 PM
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CC is public domain with the only restrictions in this case being an attribution requirement and a non-commercial restriction. Boy you must also hate BSD, Linux, Apache, Firefox, etc. what with their "restrictive" license requirements that are only in place to give credit for good work and protect from commercial misuse.
For the record, I am just pointing out a strategic mistakes in propagating memes even if that mean sacrificing author attribution and protection from "commercial misuse". Yes, I am a public domain proponent, as my whole magazine is published under the public domain. Still, don't let that dissuade you from accepting a good argument. |
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1378
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Bitcoin / Bitcoin Discussion / Re: Who is willing to create
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on: June 30, 2011, 05:32:01 PM
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Bad license. Bitcoin logos are public domain for a reason. Even the Bitsquirrel are public domain. In the race for mascot dominance, it is fatal to have copyright restriction. |
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