evoorhees (OP)
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Democracy is the original 51% attack
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March 08, 2013, 03:55:26 PM Last edit: March 09, 2013, 12:11:28 AM by evoorhees |
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I'll be talking Bitcoin on Peter Schiff Radio today (Friday March at 11:05am EST. Host this week is not Peter himself but is Tom Woods of the Mises Institute, who is an absolutely awesome author and speaker. http://schiffradio.com/UPDATE: Here's the MP3 for download: [removed because it ran out of downloads]. You can get it at schiffradio.com - download from the home page. Bitcoin talk starts at 40:00
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shkiser
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March 08, 2013, 04:16:05 PM |
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listning now,,
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Elwar
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Viva Ut Vivas
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March 08, 2013, 04:30:20 PM |
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You may want to see what he said most recently about Bitcoin: https://bitcointalk.org/index.php?topic=150408.0"It’s a fad and just because people are accepting it today, something could happen, there could be a scandal. I don’t know that I would feel comfortable if I took my life savings and converted it into bitcoins. We’ll see where it is in 10-20 years." He is still on the gold bug side of saying that the major flaw behind Bitcoin being that it is not backed by anything. I would tell him not to think of Bitcoin as an investment but a means of exchange. That Bitcoin is not meant to be something you put your life savings in and wait 10-20 years, it is useful for dropping your fiat dollars so that you can use it for simple transactions with no credit card fees. Tell him that many Bitcoin users hold gold for long term and Bitcoin for every day spending. His best interest is to let his listeners know that gold is the place to be because he owns a gold selling business. Play to his anti-fiat side as opposed to trying to push Bitcoin's "store of value". edit: I did not notice that the show had already started and that Tom Woods would be the host. Good luck
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin.
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shkiser
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March 08, 2013, 04:47:45 PM |
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I swear as your bit ended, the price finally made it over $44!
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cypherdoc
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March 08, 2013, 05:22:15 PM |
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I'll be talking Bitcoin on Peter Schiff Radio today (Friday March at 11:05am EST. Host this week is not Peter himself but is Tom Woods of the Mises Institute, who is an absolutely awesome author and speaker. http://schiffradio.com/I'll post a download link here when it becomes available. Tom Woods is probably even more important in the gold community as Schiff as he is embedded deeply in the Mises Institute. i've read both their books and Woods has more credibility IMO. i used to sub to Schiff's podcast's but they became too overwhelming on a daily basis with only about 1/3 being relevant. glad you made it on there and please put up the podcast when it appears. sounds like it went real well though.
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hazek
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March 08, 2013, 06:22:16 PM |
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Tom Woods at the beginning of the show when previewing his second guest among other things says "...if Bitcoin can do what they're saying it can do I'm slowly becoming a convert."
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My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)
If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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cypherdoc
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March 08, 2013, 06:31:47 PM |
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that means he IS a convert. after all, Robert Murphy has been looking at this for a while now.
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hazek
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March 08, 2013, 07:09:23 PM Last edit: March 08, 2013, 07:27:03 PM by hazek |
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The first loop of the recording is about to be played, listen here: http://www.schiffradio.com/pg/jsp/charts/archiveaudioplayer.jsp
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My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)
If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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acoindr
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March 08, 2013, 08:00:10 PM |
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You knocked that one out of the park, Erik. I'm not sure who could have explained those answers better. And, yes, Googling "bitcoin libertarian introduction" brings up links to your excellent article straightaway. Nice job!
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Offthechain
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March 08, 2013, 08:09:22 PM |
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Fantastic effort Erik Voorhees! You are a great spokesman for Bitcoin. I enjoyed that!
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westkybitcoins
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Firstbits: Compromised. Thanks, Android!
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March 08, 2013, 11:15:41 PM |
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No downloads left.
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Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
... ... In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber... ... ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)... ... The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
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doobadoo
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March 08, 2013, 11:38:16 PM |
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Can some one seed this mp3 as a bittorrent file. that dl source is cutting us off. post a link to tpb, or just host the little file urself. come on, aren't we all supposed to be uber-geeks here?
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"It is, quite honestly, the biggest challenge to central banking since Andrew Jackson." -evoorhees
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Elwar
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Viva Ut Vivas
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March 09, 2013, 12:25:06 AM |
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You may want to see what he said most recently about Bitcoin: https://bitcointalk.org/index.php?topic=150408.0"It’s a fad and just because people are accepting it today, something could happen, there could be a scandal. I don’t know that I would feel comfortable if I took my life savings and converted it into bitcoins. We’ll see where it is in 10-20 years." He is still on the gold bug side of saying that the major flaw behind Bitcoin being that it is not backed by anything. I would tell him not to think of Bitcoin as an investment but a means of exchange. That Bitcoin is not meant to be something you put your life savings in and wait 10-20 years, it is useful for dropping your fiat dollars so that you can use it for simple transactions with no credit card fees. Tell him that many Bitcoin users hold gold for long term and Bitcoin for every day spending. His best interest is to let his listeners know that gold is the place to be because he owns a gold selling business. Play to his anti-fiat side as opposed to trying to push Bitcoin's "store of value". edit: I did not notice that the show had already started and that Tom Woods would be the host. Good luck Other things I have heard Schiff talk about lead me to respect him as an intelligent free market advocate, however he very clearly demonstrates his complete lack of understanding by saying "it could end up being a fad just like pets.com was". It's a shame he hasn't taken some time to actually check it out. I do not blame the guy for protecting his bottom line, which is people buying gold from him. Whether he has convinced himself that gold is the only option or he is purposefully ignoring everything else for his own gain is up to him. We all do similar things with all of the alt coins out there.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin.
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JoelKatz
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Democracy is vulnerable to a 51% attack.
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March 09, 2013, 12:34:43 AM Last edit: March 09, 2013, 01:11:42 AM by JoelKatz |
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I'll be talking Bitcoin on Peter Schiff Radio today (Friday March at 11:05am EST. I just finished listening to the show. Awesome job! He is still on the gold bug side of saying that the major flaw behind Bitcoin being that it is not backed by anything.
The only way we know of to back currencies with something without counterparty risk is for you to have physical possession of something valuable. I don't know about you, but I don't like the idea of my life's savings being stuffed in my mattress. But also, backing a currency is a mediocre solution to a problem Bitcoin doesn't have. Why do you want a backed currency? It's not because it increases the value of the currency. Who cares? If it's worth less, we'll just use more of it. If it's worth more, we just use less of it. We want a currency to be backed because that limits the amount that can be created. But it does so imperfectly because fractional reserves can be kept and, for backing like gold or silver, more of the backing item can be discovered. Bitcoin doesn't have this problem. Its rate of production is almost perfectly predictable. So what beneficial purpose would backing it serve? (And, of course, it would add risk that, for example, whoever backed it might go out of business.)
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I am an employee of Ripple. Follow me on Twitter @JoelKatz 1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
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kyotoku
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March 09, 2013, 02:03:43 AM |
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I empathized with Erik's struggle to explain how bitcoin limits its total. I have been trying to come up with a way of explaining how bitcoins are created. One of these days I answered a question which I believe is in a good direction of solving the issue. It is very important to add that when it is settled which block of transfers are to be written to the blockchain, one cannot simply put any transfers in the block. Every node actually checks if all transfers are valid. Meaning they check if the source address has the funds to be transfered to next address. With one single exception, it is allowed to make one sourceless transfer of a defined amount, which currently is 25 bitcoin, which is how bitcoins are created.
In bitcoin, what a person actually have are you account (called public address) and the password to that account (private key). The private key allows you to transfer any coins that were transfered to the corresponding public address to another public address. So as long as you have a copy of the private key you have access to the coins. If you only have a single copy of the private key in a flashdrive and than it is destroyed you will lose the coins. Obviously you make some copies of the private key to be safe of that possibility. By now I suppose you can see why you cannot simply copy bitcoins. You can copy the key, but the key only gives the bearer access to the coins in the address. Here is the full text where I wrote this. I hope it can be helpfull. http://gizmodo.com/5984826/mega-is-now-accepting-bitcoin-because-of-course-it-is?post=57503960
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allthingsluxury
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March 09, 2013, 06:09:25 AM |
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Great job Erik! Thanks for sharing.
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Gold & Silver Financial News: Silver Liberation Army, Gold & Silver News, Geopolitical & Financial News, Jim Rickards Blog, Marc Faber Blog, Jim Rogers Blog, Peter Schiff Blog, David Morgan Blog, James Turk Blog, Eric Sprott Blog, Gerald Celente Blog
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