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Economy / Economics / Re: StopNTrade.com - The future of Bitcoin trading.
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on: June 23, 2011, 08:31:48 AM
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StopNTrade went live on 21/06/2011 and from this day on the site has gained great business experience, and reputation. Starting with fake statements about reputation is a great way to gain reputation. What else should I have put? I don't feel like editing it in the future, so I'm leaving it like that. Thanks for the laughs. Maybe there's a market for Bitcoin comedy.
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Economy / Economics / Re: Will huge difficulty result in low adoption?
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on: June 15, 2011, 02:23:28 AM
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There are already more than enough miners. It's only important for mining to remain stable (so there isn't some huge delay for confirmations) and for their to be some decentralization (so no one can hack the system). That's already been achieved.
What we need now are more Bitcoin users (read: junkies finding out about the silk road).
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Other / Beginners & Help / Re: Does any body know of a bitcoin bank?
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on: June 15, 2011, 02:16:13 AM
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I was thinking about clearing out my client.
Just send them to MtGox or a private online wallet (like MyBitcoin). Do not use MyBitcoin! I sent them a message about a lost password more than a week ago. I still have not received a reply. The only way to contact them is through the online system they provide (which I used) and apparently they don't even check that.
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Bitcoin / Bitcoin Discussion / Re: mtgox might just kill Bitcoin's chances of success
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on: June 13, 2011, 07:53:29 PM
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It's possible to make use of the Mt Gox API to immediately (within transfer time) sell all Bitcoins received (or the portion thereof for which USD is needed) for USD after they're received. Anyone too retarded to figure this out shouldn't be running an online business anyway. They should go start one of those stupid convenience stores, with a sticky floor, which doesn't take credit cards for purchases under $5. The change in value during that sort of time period ought to be proportional to interchange fees anyway. If they're really worried about volatility they can store some Bitcoin up front and sell it while the transfer is taking place. Thereby allowing more sales to occur as soon as the reserve is replenished and the transfer has gone through.
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Bitcoin / Bitcoin Discussion / Re: Why the maximum of 21.000.000 bitcoins cannot be enforced
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on: June 13, 2011, 07:50:16 PM
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The distribution of "real" wealth throughout the world is far less equal and much less fair than that of Bitcoin, with more serious implications as well. Whereas wealthy Bitcoiners got their lucre through risk taking, having access to a small amount of capital, and having basic computer skills -- most of the world's wealthy simply got what they have by being born. Additionally, while one could live a happy life without ever owning a Bitcoin, there are literally children starving to death, for no fault of their own, simply because they were born without. Since there hasn't been any huge revolt recently about this serious inequality, it's hard to imagine people will take up arms over the distribution of private keys.
To make matters worse, Bitcoins will always go to those with the best mining equipment. So it's not like changing the amount given out per block will really do anything to help the poor.
Finally, I'm afraid you -- like so many others -- are missing the point. I'd be happy if all of the mining ended today. It doesn't produce any real wealth and simply dilutes the value of those who have invested in Bitcoin. If people want money they should add value to the economy, not come up with some crazy scheme to print it themselves. Imagine if we all just printed our own money. No work would ever get done!
Those who feel The Fed unfairly monopolizes production of currency are delusional if they think the world would be better if everyone could print as much money as they like. None of it would be worth anything.
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