Lolcust
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Activity: 112
Merit: 11
Hillariously voracious
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November 16, 2011, 09:11:04 PM |
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Bitcoin is potentially illegal by design.
To quote a certain alt-coin designer, "tough titties". |
Geist Geld, the experimental cryptocurrency, is ready for yet another SolidCoin collapse  Feed the Lolcust! NMC: N6YQFkH9Gn9CTm4mpGwuLB5zLzqWTWFw67 BTC: 15F8xbgRBA1XZ4hmtdFDUasroa2A5rYg8M GEG: gK5Lx6ypWgr69Gw9yGzE6dsA7kcuCRZRK
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You get merit points when someone likes your post enough to give you some. And for every 2 merit points you receive, you can send 1 merit point to someone else!
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ElectricMucus
Legendary
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Activity: 1666
Merit: 1057
Marketing manager - GO MP
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November 16, 2011, 11:24:14 PM |
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God damn pump & dump threads are so disgusting.  If bitcoins should become too expensive to buy them I don't wanna have them it's as simple. |
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Vandroiy
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Activity: 1036
Merit: 1002
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November 16, 2011, 11:36:42 PM |
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Why do you all shoo before the mighty government? They're just politicians, they're pawns in this great game of chess. Intervening where people hate them for it and nobody likes the move is not something they like to do. Thus, Tor, Freenet, and others mostly get attacked by accident, not systematically.
A politician is not the government, and has little incentive to push government control where there's no money to be made either personally (yes, corruption) or by a lobby of his.
Everybody complains the government is behaving so chaotically, at least take that into account when assuming it will be an enemy. Chances are it'll never make up it's mind in Bitcoin in the first place, and we're just facing random laws that happen to get annoying like everyone else.
That said, given that Bitcoin does not intend to change in face of any lawmaker, the proposal might just work out. It would save everyone the hassle of the legality discussion in the future.
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notme
Legendary
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Activity: 1904
Merit: 1002
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November 16, 2011, 11:42:43 PM |
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Why do you all shoo before the mighty government? They're just politicians, they're pawns in this great game of chess. Intervening where people hate them for it and nobody likes the move is not something they like to do. Thus, Tor, Freenet, and others mostly get attacked by accident, not systematically.
A politician is not the government, and has little incentive to push government control where there's no money to be made either personally (yes, corruption) or by a lobby of his.
Everybody complains the government is behaving so chaotically, at least take that into account when assuming it will be an enemy. Chances are it'll never make up it's mind in Bitcoin in the first place, and we're just facing random laws that happen to get annoying like everyone else.
That said, given that Bitcoin does not intend to change in face of any lawmaker, the proposal might just work out. It would save everyone the hassle of the legality discussion in the future.
Gernment control gives the politician more opportunities to gain profit because there is more they can do for their constituents. And by constituents I mean those that line their pockets who most of them really represent. |
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phorensic
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November 17, 2011, 01:28:01 AM |
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I think the title of this thread is funny because it will probably be a LONG time before I am unable to afford buying 0.00000001 BTC. If the value skyrockets because it becomes a legally recognized currency, then I just buy the same amount (using $USD) I would have bought before, the decimal place will just change.
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ElectricMucus
Legendary
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Activity: 1666
Merit: 1057
Marketing manager - GO MP
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November 17, 2011, 01:44:10 AM |
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I think the title of this thread is funny because it will probably be a LONG time before I am unable to afford buying 0.00000001 BTC. If the value skyrockets because it becomes a legally recognized currency, then I just buy the same amount (using $USD) I would have bought before, the decimal place will just change.
I wouldn't since I do not want a system where a few individuals control the major part of the wealth. If bitcoin were to become just another hierarchical system I'd fight it. But so far things are looking good, if early adopters cash out their coins will be distributed to more people over time, in that case I'll stick with it. |
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Etlase2
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November 17, 2011, 02:38:00 AM |
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But so far things are looking good, if early adopters cash out their coins will be distributed to more people over time, in that case I'll stick with it.
http://www.med.govt.nz/templates/MultipageDocumentPage____6861.aspx"47. Market manipulation is regarded by some commentators as essentially a type of fraud. It involves the creation of a false impression of trading activity or price movement or of market information. The existence of such a false or misleading impression leads to a reduction in market efficiency as trading decisions are not made on financial fundamentals. Commentators have argued that market manipulation undermines public confidence in markets as investors are unable to rely on the integrity of the market. This then has detrimental impacts on the level of competition and liquidity of securities markets." |
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old_engineer
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November 17, 2011, 08:43:17 AM |
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But so far things are looking good, if early adopters cash out their coins will be distributed to more people over time, in that case I'll stick with it.
Agreed - on the whole, I think this sell-off is a good thing for bitcoin. If you were an early adopter, and were looking to maximize your cash-out value, what would you do? I'd do something like what's been happening over the past few days, with sell-offs in stages: a big sell-off to 2.50, a stabilization time, a sell-off to 2.20, a stabilization time, and now a sell-off to 2.00 and a stabilizing time. Perhaps he will go another round to 1.80 or something - no way to know. But he's selling many coins, and for cheap, redistributing them in the process, and at the price others are willing to pay (ie, fulfilling orders on an exchange). A sell-off is better to do now than later, when there will be more vendors actually using btc. After collecting most of the cash from the exchange, many more people are then holding btc, and are more likely to try to spend them other places. And speaking of which, I just received my first product order using bitcoins in the mail today, some packaged food that was actually cheaper than any of the nearby markets even after including shipping. |
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Jonathan Ryan Owens
Donator
Sr. Member
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Activity: 392
Merit: 252
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November 17, 2011, 08:44:53 AM |
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But so far things are looking good, if early adopters cash out their coins will be distributed to more people over time, in that case I'll stick with it.
Agreed - on the whole, I think this sell-off is a good thing for bitcoin. If you were an early adopter, and were looking to maximize your cash-out value, what would you do? I'd do something like what's been happening over the past few days, with sell-offs in stages: a big sell-off to 2.50, a stabilization time, a sell-off to 2.20, a stabilization time, and now a sell-off to 2.00 and a stabilizing time. Perhaps he will go another round to 1.80 or something - no way to know. But he's selling many coins, and for cheap, redistributing them in the process, and at the price others are willing to pay (ie, fulfilling orders on an exchange). A sell-off is better to do now than later, when there will be more vendors actually using btc. After collecting most of the cash from the exchange, many more people are then holding btc, and are more likely to try to spend them other places. And speaking of which, I just received my first product order using bitcoins in the mail today, some packaged food that was actually cheaper than any of the nearby markets even after including shipping. ^ ENLIGHTENED |
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