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mewantsbitcoins
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April 16, 2011, 09:14:49 PM |
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there are quite some easily imaginable ways in which it could fail.
such as? |
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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barbarousrelic
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April 17, 2011, 02:27:49 AM |
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there are quite some easily imaginable ways in which it could fail.
such as? Bugs/exploits discovered. Government prosecution. Someone gets enough computing power to double spend with impunity. |
Do not waste your time debating whether Bitcoin can work. It does work.
"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.
There is no such thing as "market manipulation." There is only buying and selling.
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molecular
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April 17, 2011, 12:20:37 PM |
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there are quite some easily imaginable ways in which it could fail.
such as? - critical mass might not be reached (bitcoin only used by criminals and webdesigners)
- attacks (like smear campaign, making bitcoin illegal, >51% attack with computing power...) from governments/banks/amazon/...
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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molecular
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April 17, 2011, 12:23:31 PM |
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How many of you REAL MEN would put 95% of your entire life, solemnly and nearly absolutely swear on Bitcoin and its success? How many of you?
As for me, I do.
Who else?
no REAL MEN would , what you are offering is boys playground. If it is not immediately obvious why, just wait a few decades... What do you mean? |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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kelp
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April 17, 2011, 05:48:26 PM |
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Thank you for your sarcasm, lightrider. Glad to know I'm not alone.
As for the rest of you savages, if you want to remain marginalized and howling naked in the far and barren hinterlands of the internet, beating your cryptographically hardened chests with your bitcoin clubs imbued of black magic, adorning yourselves around dim fires with alpaca, drawing golden ratios in the sand with your primitive calipers, feel free to do just that. Enjoy your lives far from Rome's glowing light, short and brutish though they may be. And in the far distant future of 2021, long after your sideline civilization has been dusted from the roiling surface of the world, a woman will walk down by the riverbank and happen to pick up a bitcoin buried in the sand, puzzle over it for a bit and throw it back into the flow of the water - a primitive token as useless as the ancient old "warriors" who used it, long dead now.
If you exclude the biggest portion of humanity from being pumped about bitcoin, don't be surprised when we all turn our backs.
Well said. Thank you. Sexism will not serve to push bitcoin forward, only hinder it. |
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slurch
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April 17, 2011, 06:15:42 PM |
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It's a technically sustainable model...that's why I'm here. Wink Anything is better than the fractional reserve monetary system...even exchanging beads and shells. I'm in.
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Donations accepted at: 1AXKzVc1tTmfC6VkWwBNSzKqThqhwsC5mY
For what, I have no idea...
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FooDSt4mP
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April 17, 2011, 06:31:34 PM |
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How many of you REAL MEN would put 95% of your entire life, solemnly and nearly absolutely swear on Bitcoin and its success? How many of you?
As for me, I do.
Who else?
What is your net worth? So your 95% of your fortune is in BTC? Quite possibly... He was recently asking for advice on going to college. I applaud your boldness Atlas, but you have a lot to learn. For someone claiming to be a nihilist, you sure want to believe in bitcoin. |
As we slide down the banister of life, this is just another splinter in our ass.
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Timo Y
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bitcoin - the aerogel of money
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April 17, 2011, 07:07:48 PM
Last edit: May 18, 2011, 01:42:44 PM by forever-d |
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So your definition of a RealMan TM (whatever that means) is someone who takes an irrational risk based on ideology rather than a sober cost-benefit calculation. That's romantic and cute, and I kind of admire your optimism. But personally I prefer not to put 95% of my wealth behind a technology that may be brilliant, but is still in beta stage and has lots of possible failure scenarios. I guess that makes me a non real man.  |
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Rena
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April 18, 2011, 12:05:12 AM |
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The only thing that can truly stop Bitcoin is a massive societal resentment which is highly improbable. Just start convincing people that it contains a backdoor. Present some crypto mumbo-jumbo, some snippets of random computer code, etc as evidence. How many will make any attempt to verify the claim - or even really understand it - before simply going "zOMG BITCOIN IS A SCAM!!1!cos(0)"? Who is this mysterious Satoshi guy and why does he remain anonymous? Etc. |
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