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Coma (OP)
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June 10, 2011, 03:11:45 PM |
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I was reading this article ( http://www.lewrockwell.com/blog/lewrw/archives/89471.html )which shows is one of the less insightful points of view I can recall, and I realized that it's an awesome distraction strategy. The more shit people talk about Bitcoin, the more they are delaying it's progress, which gives early adopters more time to get hold of BTC. I think Bitcoin should and will grow by the hand of IT strategic place on world's economy, which is exponential and revolutionary. Analogue to Industrial Revolution. So this people talking about 'true' economy conform the equivalent to the Luddites.  |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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BookofNick
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June 10, 2011, 03:35:35 PM |
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It's a foreign concept and I understand where the author is coming from. In the end, though, he says "it will be shut down because it's anonymous." There seems to me to be a contradiction in that statement somewhere.
That being said, government action is a huge risk factor. It will show a lot about our government if they use threats of violence (i.e. make a law) against us for trading nothing but strings of numbers among our computers.
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billyjoeallen
Legendary
 Offline
Activity: 1106
Merit: 1007
Hide your women
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June 10, 2011, 03:40:26 PM |
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Government action may cause the value of bitcoin to increase or decrease. I have a fantasy that they find the 100 largest hoards and destroy them. That would make my stash skyrocket in value. It's what I call the "Goldfinger Scenario".
David is a friend of mine. It's sad to see this. He's going to miss out.
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insert coin here:
Dash XfXZL8WL18zzNhaAqWqEziX2bUvyJbrC8s
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc
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nathanrees19
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June 10, 2011, 03:46:25 PM |
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Over the centuries, gold and silver won out as the two most preferred mediums of exchange—with gold holding the number one position due to it being more scarce than silver. WTF. It's like this guy hasn't even heard of money. |
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Freakin
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June 10, 2011, 04:11:04 PM |
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That being said, government action is a huge risk factor. It will show a lot about our government if they use threats of violence (i.e. make a law) against us for trading nothing but strings of numbers among our computers.
it's pretty absurd that people keep making statements like this about how "it's just a string of numbers" or "there is no law against math." If it were just a string of numbers, it wouldn't be trading for $26/USD per BTC. It is meant to be a p2p currency that exists as a unit of trade, and none of us would care about it if it actually was just a string of numbers. To put it another way, isn't counterfeiting bills just printing pretty pictures on a piece of paper? Why is there a law against that? Isn't software piracy just trading strings of numbers over the internet as well? |
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Coma (OP)
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June 10, 2011, 05:14:32 PM |
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Right people, the articule SUCKS BIGTIME.
The point is that for each person buying what this article says, mining difficulty grow diminishes.
It's like people saying "mining at the current difficulty is not profitable anymore". Lie, that makes room for people already mining.
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nathanrees19
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June 11, 2011, 02:28:19 AM |
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Isn't software piracy just trading strings of numbers over the internet as well? Illegal is generally taken to mean a violation of criminal law, which piracy is not. |
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FreeMoney
Legendary
Offline
Activity: 1246
Merit: 1014
Strength in numbers
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June 11, 2011, 02:35:06 AM |
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That being said, government action is a huge risk factor. It will show a lot about our government if they use threats of violence (i.e. make a law) against us for trading nothing but strings of numbers among our computers.
it's pretty absurd that people keep making statements like this about how "it's just a string of numbers" or "there is no law against math." If it were just a string of numbers, it wouldn't be trading for $26/USD per BTC. It is meant to be a p2p currency that exists as a unit of trade, and none of us would care about it if it actually was just a string of numbers. To put it another way, isn't counterfeiting bills just printing pretty pictures on a piece of paper? Why is there a law against that? Isn't software piracy just trading strings of numbers over the internet as well? It makes me sick that people attack others for making certain designs on paper (designs they make themselves even!). |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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DamienBlack
Jr. Member
Offline
Activity: 56
Merit: 1
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June 11, 2011, 08:22:53 AM |
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Isn't software piracy just trading strings of numbers over the internet as well? Illegal is generally taken to mean a violation of criminal law, which piracy is not. ^This. Thank you. Piracy is not "illegal". A police officer can be sitting in your room watching you do it, and he can do nothing about it. When you are sued by the MPAA and RIAA, it is a private suit, by a private company claiming that you infringed on their copyright. That is no more illegal that if you get sued for slander or libel. What you did is not illegal, there may just be repercussions. Now it is illegal in many places to film a movie in a theater. You can get arrested for that and you can get jail time. Neither of which can happen to you if you just torrent that same film. |
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