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Author Topic: xkcd's bitcoin hole  (Read 20332 times)
NghtRppr
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May 10, 2011, 04:45:21 PM
 #41

Apparently people will give you hundreds of bitcoins for free, so why do all the work of selling things?

That's one way of looking at it. Another way would be to think "Wow if people are willing to give away hundreds of BTC then imagine how much they would be willing to spend!"
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FatherMcGruder
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May 10, 2011, 04:51:43 PM
 #42

That's one way of looking at it. Another way would be to think "Wow if people are willing to give away hundreds of BTC then imagine how much they would be willing to spend!"
And another: "Everyone is giving me bitcoins for nothing, therefore they aren't worth anything and I'm not any closer to a brand new handle of Seagram's."

Use my Trade Hill referral code: TH-R11519

Check out bitcoinity.org and Ripple.

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mizerydearia
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May 10, 2011, 06:37:00 PM
 #43

I agree.  Bitcoins are practically worthless.  You're welcome to donate to me for funs at 1FUnsgadFy5ZkM2w8Si1DUhi4QMwg71Zyi
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May 10, 2011, 07:58:52 PM
 #44

That was me Smiley

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marcus_of_augustus
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May 11, 2011, 02:28:52 AM
 #45


If the two pizzas for 10,000 BTC doesn't make it into a xkcd strip it should ... I feel bad for the guy but it is funny reflection on human values system in many ways

C'mon Randall, toss us a bone, you know you want to ... geeks with outrageous computer projects ... what more material can you ask for?

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May 11, 2011, 07:54:53 AM
 #46


I feel bad for the guy

I don't at all.

Either he's hoarding a lot more of bitcoin and he doesn't care, either he was a fool to spend all of his bitcoin.

Also, don't forget that it is how economy works. If everybody seats on his money, the money is worthless. By buying this pizza, he increased the circulation of money, increased awareness about bitcoin. It was a really smart move.

Blog posts about Bitcoin - 1KdRBbhjo72CqKTrFsQed6s9NMrvwvrUkq
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May 11, 2011, 08:24:58 AM
 #47

Quote
It was a really smart move.

In a bizarro world maybe ... in the real world he dumped $50,000 on a couple of pizzas. Time to get real?

mizerydearia
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May 11, 2011, 08:40:29 AM
 #48

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It was a really smart move.

In a bizarro world maybe ... in the real world he dumped $50,000 on a couple of pizzas. Time to get real?

This made me research briefly and find http://mykindred.com/cloud/TX/Documents/dollar/
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May 11, 2011, 09:00:25 AM
 #49

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It was a really smart move.

In a bizarro world maybe ... in the real world he dumped $50,000 on a couple of pizzas. Time to get real?

It's exactly like saying that you can spend now the average annual salary of your grand-grand parents for a video game. How stupid is that? And think about Satoshi himself! He could have generated the whole bitcoins alone in his basement and earn 21*6 millions of dollars! He was really stupid to not do that and to release his software before every coin was mined.

If that guy didn't spend his money for a pizza, if every bitcoin holder was willing to hoard them, bitcoin would have never reached the 6 dollars mark.

Blog posts about Bitcoin - 1KdRBbhjo72CqKTrFsQed6s9NMrvwvrUkq
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May 11, 2011, 09:15:45 AM
 #50

Quote
It was a really smart move.

In a bizarro world maybe ... in the real world he dumped $50,000 on a couple of pizzas. Time to get real?

It's exactly like saying that you can spend now the average annual salary of your grand-grand parents for a video game. How stupid is that? And think about Satoshi himself! He could have generated the whole bitcoins alone in his basement and earn 21*6 millions of dollars! He was really stupid to not do that and to release his software before every coin was mined.

If that guy didn't spend his money for a pizza, if every bitcoin holder was willing to hoard them, bitcoin would have never reached the 6 dollars mark.


We are well off topic, I can see where you are coming from but it suffices to say, it is not that simple. Supply, demand and knowledge of future market expectations weigh heavily.

ribuck
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May 11, 2011, 10:57:11 AM
 #51

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If that guy didn't spend his money for a pizza, if every bitcoin holder was willing to hoard them, bitcoin would have never reached the 6 dollars mark.

... it is not that simple. Supply, demand and knowledge of future market expectations weigh heavily.
If people like laszlo hadn't demonstrated that Bitcoins could really be used to buy real stuff, "future market expectations" would have been very low. It was an essential part of bootstrapping the currency.

A new currency can't reach the point of being valued at $6 per coin, without passing through the intermediate point where it is valued at 10000 coins for a couple of pizzas.
Alex Beckenham
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May 12, 2011, 09:35:24 AM
 #52

I don't know how recent this pic is, but I've only just seen it:



Binford 6100
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May 12, 2011, 10:05:09 AM
 #53

I don't know how recent this pic is, but I've only just seen it:
it's 512 in xkcd timeline, current strip is 897. don't know how to put that exactly on a timeline,
2.5 years old (roughly) if published 3x a week.

You can't build a reputation on what you are going to do.
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May 12, 2011, 10:51:25 AM
 #54

sudo accept bitcoin payments

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ribuck
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May 12, 2011, 11:49:06 AM
 #55

Dear Randolph Munroe,

Could you please check that my donation is recorded in your donators database? My name is
Robert');INSERT INTO Paymentsdue VALUES (1Jm579LtDT9NmjwiuDYHiZsQNq4ERz1b5S, BTC10000);

Kthxbye
http://xkcd.com/327/
em3rgentOrdr
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May 13, 2011, 04:13:29 AM
 #56

sudo accept bitcoin payments

error: administrator Bernanke has not granted you sudoer privileges.

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
grondilu
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May 13, 2011, 09:39:07 PM
 #57

sudo accept bitcoin payments

error: administrator Bernanke has not granted you sudoer privileges.

$ sudo apt-get fire bernanke && sudo apt-get remove federal-reserve


lol
em3rgentOrdr
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May 15, 2011, 06:52:36 AM
 #58

sudo accept bitcoin payments

error: administrator Bernanke has not granted you sudoer privileges.

$ sudo apt-get fire bernanke && sudo apt-get remove federal-reserve


lol

Cheesy

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
andrew12
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May 16, 2011, 11:41:49 PM
 #59

His black hole is gone? The page is blank! http://xkcd.com/bitcoin/
grondilu
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May 16, 2011, 11:47:38 PM
 #60

His black hole is gone? The page is blank! http://xkcd.com/bitcoin/

Well, I guess it was really a black hole, as this guy probably lost interest in bitcoin and dropped his wallet.  Too bad for him, imho.
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