To the extent this is true (I think some people have no difficulty with enormous numbers of social relations while some have difficulty getting along with more than their immediate family), it explains why communism, outside of voluntary communities like kibbutzim, never work.

Eventually, people get in control of the state and only want to protect their immediate tribe.  Maybe not even them, e.g., Stalin.  The philosophy of communism almost guarantees a form of government tailor-made for a dictator to step in.  That has happened in every case of a communist revolution on a large scale.  There is, simply, no successful example of a communist state.

There is also no successful example of a purely capitalist state with no elements of socialism.

Fanatics on both sides should take note.  The lack of success of a system, when it occurs throughout all of history since the invention of an idea, should be fairly convincing evidence that the system does not work because IT DOES NOT WORK.  It is not that every single country that tried to implement it did it wrong.  It is not that some perfect messiah will come along and magically make it work in the future.  It is that it is a bad idea and DOES NOT WORK.

That said, capitalism has a better track record, and when the free market works, it works REALLY WELL.  That's pretty much why the Western world is still trucking along and the Soviet Union has ceased to exist.

Personally, I'm in the OK then, high now camp.  They're not to the point they're completely out of line, but some thought needs to be given to how to do this in the future.  And the reference client does an utter shit job at setting these fees in any useful fashion, and sites that transmit BTC have no best practices to guide them.

It will eventually get to the point that when you buy a Raspberry Pi, you'll have to pay half its cost just to transmit the fucking transaction and get it confirmed the same day.

I do think the fees should be high enough to discourage tiny lint micro-transactions, but not high enough that they significantly impair real business.

This is why I don't see this happening in Bitcoin-land.  So many of the core people involved with Bitcoin reject this argument, and to many, it is a core value that fractional reserve banking is, ipso facto, a form of fraud, that I think people would stay away from it in droves.

So I don't see it as practical because the community would reject it.  

Personally, I think FRB has its merits in the so-called "real world" of banking, but it has significant demerits that I think most Bitcoin users do not want, at least not in Bitcoin.  I do not want to see widespread FRB in BTC.  If nothing else, it would take a lot of the fun out of the market.

Threads like this are convincing me, almost against my will, that maybe there should actually be a longer timeout in the noob cage than there already is.

The Winkledouche twins were butthurt losers angry that they, two Harvard scions of WASP America, basically got pounded to pudding by a nerdy Jew. 

That said, it's a good sign when old money gets involved with new money.  I don't see how this is bad for Bitcoin any more than being adopted by any other prominent money guys.

Of course, it would be kind of a nuisance if they suddenly claimed they invented Bitcoin and try to sue Satoshi.

Denninger is a nutjob.  He is also apparently of the belief that he is basically an expert on everything, and seems to have a specialty in believing himself to be an expert on subjects he understands less than the rankest BTC noob.

Anyone got an ETA on when the site comes back?  It's kind of annoying, since the site literally went down for the count seconds after I made a deposit.

Would have had to buy some time ago, making him pretty savvy. 

Then would have had to go to pound-me-in-the-ass prison for stupid shit.  And be stupid enough not to realize the BTC was appreciating in value.

Then only come online now, in a noob post on the noob forum by someone who never posted before.

Trollin trollin trollin.

There is a certain complexity here when you're gambling with BTC and that is your main source of the commodity.  Almost all my BTC come from poker in one way or another, or through some other form of gambling.  The tax law for gambling, especially in the United States, is basically nutty.  It requires accounting for every session, and allows deductions for losing sessions, but those also must be tracked and you have to do enough gambling that it exceeds the standard deduction.  You also have to itemize deductions.

The taxable event in this case is actually winning the money at the table.  It can't be dodged by simply keeping the money (denominated in dollars) as casino chips and putting them in a safe deposit box.  In fact, the IRS has often gone after gamblers and the casinos generally cooperate in emptying out such safe deposit boxes to cash the chips.  If the gambler can't then document session losses and gains, tough titty.

However, BTC and the sale of BTC (especially when purchased with fiat) is a lot like the kind of event that triggers short-term capital gains taxes, particularly if you only hold the BTC for a year or less.  So what about the situation where you played a lot of Bitcoin poker when it was practically play money, you now have a bunch, and you cash out some when it hits $250?  

Capital gains is generally applied to when a purchased asset appreciates in value.  To some extent, even mining constitutes a capital investment, but suppose you just got it for free by playing poker freerolls, then letting that money ride until it turned into something real, then held it for a while?  

The fact is, the IRS has neither sane nor sensible regulations on these policies, and the statutory law is even further behind the times.  If the IRS does what the IRS does in any other case, it will adopt whatever position enables it to gouge the most money from you.

I know, some will say fuck the IRS, just do whatever, evade taxes, whatever.  Can't do that.  I'm in a profession where getting in IRS trouble gets you kicked out of the profession.  Won't work for me.  When I was making money on poker to the point it exceeded the income from my "real" job, I paid every damn penny of taxes and had my paperwork (well databases) in order to withstand any possible audit.

However, the denominated in Bitcoin shit presents serious accounting and legal issues.  I think anyone in that situation (including me) would benefit from professional advice in that area if the cost of the professional advice does not exceed the comparative benefit of having the advice.  One guy (apparently an accountant) who posted in this thread, is probably qualified to give such advice, but frankly, I am in just as good a position to give advice to myself.  The law is not established in this area, and it is dangerous ground.

Are there any other (mostly) law-abiding citizens out there who have established their own personal "best practices" in this area?  

Remember, the law is not what makes sense when you read it in a book of statutes, or even the regulations, it is what some 80 year old guy decides while his bowels are acting up and he doesn't understand your argument.

I like hitting the hash from time to time.  Mmmm.  Tastes like a Christmas tree.

So jailbreak, bitch.  There's a blockchain app on Cydia.

Do like Walter White and Jesse Pinkman and use a giant magnet to get it back!

Am I alone in thinking krill freeroll blinds should be shorter?  Frankly, they're goddamn freerolls.  Eight minutes blinds is pretty damn close to actually playing poker, and when I'm playing a freeroll, I like a stupid shovament.

Spanish prisoner protocol engaged!

More importantly, until no one exchange can basically exacerbate a panic just by incompetently failing when it is most needed.  Any exchange with 80% of volume needs cut down to size.

So it's confirmed Puke-Jr never even really received the unit in the first place.  It never left BFL.  What a joke.

The place to make that request is the Scam Accusation subforum.  And someone who actually got ripped off and has evidence should be the one to start it.

A lot of it, just as in cults in general, is that admitting something is a scam would mean admitting you got suckered, i.e. you were a dupe.

So there are a scary number of people who would rather continue to be a dupe in the face of overwhelming evidence than have the balls to face reality.