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341  Bitcoin / Bitcoin Discussion / Re: I fell on this, would it be accurate on: December 06, 2013, 04:26:26 AM
From the article...

Quote
Conclusions
We believe Bitcoin could become a major means of payment for e-commerce and
may emerge as a serious competitor to traditional money-transfer providers. As a
medium of exchange, Bitcoin has clear potential for growth, in our view.
There is much speculation that Bitcoin may help avoid high taxes, capital
controls, and confiscation. The correlation between CNY's share of volume of all
Bitcoin exchanges and price of Bitcoin is rising. That said, the fact that all Bitcoin
transactions are publically available and that every Bitcoin has a unique
transaction history that cannot be altered may ultimately limit its use in the black
market/underworld.
Bitcoin’s role as a store of value can compromise its viability as a medium of
exchange. Its high volatility, a result of speculative activities, is hindering its
general acceptance as a means of payments for on-line commerce.
Is Bitcoin a bubble? Assuming Bitcoin becomes (1) a major player in both ecommerce
and money transfer and (2) a significant store of value with a
reputation close to silver, our fair value analysis implies a maximum market
capitalization of Bitcoin of $15bn (1BTC = 1300 USD). This suggests that the 100
fold increase in Bitcoin prices this year is at risk of running ahead of its
fundamentals.

I think that, overall, it's an excellent assessment of near term investment risks.
342  Bitcoin / Bitcoin Discussion / Re: I fell on this, would it be accurate on: December 06, 2013, 04:19:55 AM
Wow, this is really well done.  Thanks for the link.  I've not read it all, obviously; but from what I've read thus far, it appears to be very well researched and a balanced assessment of Bitcoin as a financial investment asset.  Whoever wrote it groks Bitcoin on a deep level in the Economic sense.
343  Bitcoin / Bitcoin Discussion / Re: What does the bible say about Bitcoin? on: December 06, 2013, 04:12:14 AM
Believing a report from a credible source, on a fact that does not violate reproducible laws of nature is not the same as believing a report from an anonymous source, that does violate reproducible laws of nature.


Believe what you wish.
344  Other / Beginners & Help / Re: Is it time to switch units? on: December 06, 2013, 04:10:39 AM
We can all use whatever unit we desire.  There will never be a group, nor top-down, decision to either switch or not switch currency units.
345  Bitcoin / Bitcoin Discussion / Re: What does the bible say about Bitcoin? on: December 06, 2013, 03:47:10 AM
It's as amusing to myself to dissect your jokes as it is for you to ridicule my belief system.
Ridicule is the price one pays for irrational approaches to truth.

Nobody has ever complained about someone else ridiculing their belief in the height of Mt Everest. Since Mt Everest is a real thing that actually exists, we can just go measure it. No faith required there - that's only required when you're talking about imaginary things.

You have a faith based worldview as well, you just don't think you do.  While I would agree that Mt Everest is a real mountain that can be measured, can you personally perform that act, or do you need to trust the claim of someone else?  What first hand evidence do you possess that the proto-planet Pluto exists?  That Nelson Mandela (who died today) was more than a fictional character, or that James Bond was not?  That Americans have ever visited the Moon?

The truth is, you don't.  You could have the ability to prove to yourself that some of these things are truth, but no single person could prove that all of them are truth.  You live as a lifeform for which a faith-based worldview is a physical and psycological requirement for any kind of sane or rational interaction with the rest of humanity.  You must put your faith in someone.  In whom, or what, you choose to believe in says as much about you as what, or whom, you choose to deny.
346  Bitcoin / Bitcoin Discussion / Re: What does the bible say about Bitcoin? on: December 06, 2013, 03:13:52 AM
Steve Jobs thought he was god.  Wink


If that were true, why did he spend so much money and time trying to cure his cancer; rather than willing it out of existance?
347  Economy / Economics / Re: the huge Problem that most people doesn't really understand on: December 06, 2013, 03:11:46 AM
I don't understand what you all propose for these problems? Yes, energy prices are rising, but that's not due to monetary policies so much as it is global demand and increases in federal and state taxation. You think a lot of families can't get into investing because they barely have enough money to make ends meet as it is, but what would happen if we switched to a 100% bitcoin economy? We'd have deflation, and nobody would want to spend any money aside from what they absolutely needed to survive. Companies would stop hiring workers and people would lose their jobs.

There's a whole lot of wrong with this post.  Please spend some time learning about economics and come back. 

You're actually proposing that a deflationary economy... would create jobs?  Roll Eyes OK, I've had my daily dose of comedy for the day. Thanks, guys.

I'm not proposing any such thing.  History is funny that way.

The 6000 years of a "gold standard" is funny history.  Gold is a deflationary currency unit; as it's availability during any given age is limited to that which has been mined out of the ground, but by comparison to population growth across recorded human history, gold is an increasingly scarce commodity.  At some point in human history, we moved from zero jobs to non-zero jobs.  Since this occured well before the rise of inflationary fiat currencies, then the obvious answer must be that the deflationary nature of currencies, at a minimum, does not prevent jobs from being created.  The realtively short history of infaltionary currencies asl tells us that the infaltionary nature of said currencies, at a minimum, doesn't prevent existing jobs from destruction either.

Perhaps, then, the evidence suggesting a relationship between the inflationary/deflationary nature of the common currency and that of the net creation/destruction of jobs is weak.
348  Economy / Economics / Re: the huge Problem that most people doesn't really understand on: December 06, 2013, 02:56:04 AM
I don't understand what you all propose for these problems? Yes, energy prices are rising, but that's not due to monetary policies so much as it is global demand and increases in federal and state taxation. You think a lot of families can't get into investing because they barely have enough money to make ends meet as it is, but what would happen if we switched to a 100% bitcoin economy? We'd have deflation, and nobody would want to spend any money aside from what they absolutely needed to survive. Companies would stop hiring workers and people would lose their jobs.

There's a whole lot of wrong with this post.  Please spend some time learning about economics and come back. 
349  Bitcoin / Bitcoin Discussion / Re: What does the bible say about Bitcoin? on: December 06, 2013, 02:31:30 AM
I have faith that Jesus walked on water. I just kind of figured it was winter.

There is no evidence it was winter.  Roll Eyes

Wouldn't matter.  The Sea of Galliee never freezes.

You analytical fuckers are picking apart a joke. *facepalm*

It's as amusing to myself to dissect your jokes as it is for you to ridicule my belief system.
350  Bitcoin / Bitcoin Discussion / Re: What does the bible say about Bitcoin? on: December 06, 2013, 12:36:54 AM
I have faith that Jesus walked on water. I just kind of figured it was winter.

There is no evidence it was winter.  Roll Eyes
WTF does evidence have to do with fairy tales?

What do you believe in?
351  Bitcoin / Bitcoin Discussion / Re: What does the bible say about Bitcoin? on: December 06, 2013, 12:36:22 AM
I have faith that Jesus walked on water. I just kind of figured it was winter.

There is no evidence it was winter.  Roll Eyes

Wouldn't matter.  The Sea of Galliee never freezes.
352  Economy / Economics / Re: the huge Problem that most people doesn't really understand on: December 06, 2013, 12:32:58 AM
The problem with inflation is that they don't count quality together with price and that they mix the upper, middle and lower classes together in one pot. Statistically everyone seems better off, but in practice reality is showing something different.

Within the US, the deception goes much deeper than that.  For example, the official CPI (Consumer Price Index of inflation) deliberately excludes prices in food or energy; which just happen to be two of the most important things that people around the world really need.  Also, changes in real estate are not directly considered; instead a massaged number called "Owner's Equivilant Rent" is included. 

353  Other / Beginners & Help / Re: Are bitcoins essentially useless in a setting without internet connection? on: December 06, 2013, 12:00:17 AM
In a scenario where trust is not required, can bitcoin be used as a currency without an internet connection?

Yes, but with cavets.

Obviously, one can use paper wallets or Cascious coins like cash, just as others have pointed out, but it's also possible for two clients not connected to the Internet to transact so long as they can connect to one another.

For example, say you have two parties that both have mesh wifi on their smartphones, and bitcoin apps that will let the user do this (presently, as far as I know, no current bitcoin wallet clients would let the user do this).

Adam and Bob meet sometime during TEOTWAWKI, both have working smartphones, neither has any cell service.  Adam has canned goods & bullets for sale, Bob has only bitcoins to offer.  Assuming that Adam actually want's bitcoins due to the future outlook of the Internet, they agree to trade using bitcoins if they can manage it.  So long as the two apps can connect over the mesh wifi connection, Bob's client can create at least one transaction without needing access to the Bitcoin network, and it can send that transaction to Adam's phone.  So long as Adam's phone client has a local copy of the blockchain (or even just the blockchain headers and merkle trees, within risk conditions) it can verifty Bob's transaction as valid.  However, in the absence of Internet access, it's impossible for Adam to verifty that Bob isn't some hacker repeatedly spending the same bitcoins during the crisis.  The risk then is all Adam's.  He may choose to accept the transaction at face value, and forward it to the Bitcoin network at the next opprotunity.

Additionally, transactions can be created in advance that permits such an offline capable client to spend funds many times before it runs out of usable inputs.  It is generally assumed that the Bitcoincard hardware wallet would function in this manner on some level, assuming it's more than vaporware.
http://bitcoincard.org/
354  Bitcoin / Bitcoin Discussion / Re: Riddles - Second edition - Solve them and harvest the loot! on: December 05, 2013, 11:42:01 PM
While I haven't actually cracked any of these riddles, and probally never will (riddles are not my gift), I do get the feeling that I might be a solution.

Not feeling it, do you know something we don't ?  Cool

For the record, I thought the last one was a reference to late at night, and that the answer would be my username.  That's why I thought I might be in there somewhere.

Obviously, I was wrong.
355  Other / Politics & Society / Re: Any other Americans considering a claim against the FBI over SilkRoad? on: December 05, 2013, 11:30:38 PM
Half of me is saying "Do it". I'm most interested in proving in a court you own some bitcoins.
The other half is saying , "Nope" for obvious reason. I'm sure they have some felonies for which they haven't found the criminal you yet.

And that is why I'm wavering....
356  Economy / Economics / Re: the huge Problem that most people doesn't really understand on: December 05, 2013, 09:49:21 PM
I am a noob, but also Bitcoins become more for the next like 100 years (well, after 2020 there is only a few Bitcoins left to mine https://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_graph.png)  - right now 25 Bitcoins every 10 Minutes. That is 3600 Bitcoins per day. That is 3 600 000 (3 million, sixhoundredthousand) new dollars (when 1 BC = 1000 dollars) that have to flow into Bitcoins daily (buying orders) just to keep the current price of a Bitcoin.
How does this compare to how much more dollars are created?

It's pocket change.  The Federal Reserve is creating new US dollars at a rate of $85 Billion per month, or about 2.25 billion per day.  And that is just what they will admit.
357  Other / Beginners & Help / Re: What are some truly anonymous coins out there? on: December 05, 2013, 09:42:30 PM
I wanted to know what coins out there that are truly anonymous.  Three coins come in to mind but are they really anonymous?

Anoncoins
Stablecoins
Zerocoins

I know zerocoins isn't even out yet but it sounds promising.  Stablecoins recently peaked my interest so I was just wondering if there were any more out there.
Thanks!

Zerocoins arent' even an alt-coin, it's a protocol extension to Bitcoin to improve the anonymousness of Bitcoin.  IMHO the claims by other crytocoins to being more anonymous should be suspect, and the most anonymous is to mine Bitcoins independently while providing the miner with a new address from your wallet for each found block.  The coinbase coins are the most anonymous because they don't have a history to 'taint' their anonymousness.
358  Other / Politics & Society / Re: Any other Americans considering a claim against the FBI over SilkRoad? on: December 05, 2013, 09:20:26 PM
The FBI moved the coins.  Either they brute forced the wallet password, timed the arrest when the wallet as unlocked, or DPR gave up the password.  Either way they coins have been sent to private keys controlled by the government.  The block chain is proof of that.  Can't move coins you don't have the private key for.

They've moved the coins that were deposited into the server pool addresses, because that wallet.dat was probably on the server itself.  Last that I heard, the address that the feds assume was the private wallet of DPR had not been moved; and if it had it would be more likely to be proof that they have a fallguy, and that DPR just moved them to make that point clear.  It's hard to access the Internet securely from a jail cell.
Depending on the jail, it's not that hard to get a smartphone with a data plan in, specially if you're loaded.
He's been in a Federal holding jail for most of the time, and the Gmen have been watching him like a hawk for this exact reason.
359  Bitcoin / Bitcoin Discussion / Bitcoin "bumper sticker" mottos on: December 05, 2013, 09:15:45 PM
Let's start a thread for Bitcoin related mottos that one might see on a bumper sticker.  Short and to the point.  Anything that you put here is going to be free to use by anyone who actually does print bumber stickers.  So keep that in mind if you are into keeping your ideas for your personal profit.

I'll start....

Bitcoin: The Revolution Will Not Be Centralized!
360  Bitcoin / Bitcoin Discussion / Re: [OVER] Riddles - Second edition - Solve them and harvest the loot! on: December 05, 2013, 06:58:02 PM
Okay, so what was the solution?
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