Xenland (OP)
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I'm not just any shaman, I'm a Sha256man
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July 04, 2012, 04:09:50 PM |
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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Xenland (OP)
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I'm not just any shaman, I'm a Sha256man
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July 04, 2012, 04:11:40 PM |
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(fiat)... inflation is minimal.
Our modern financial system(federal reserve) is a pretty darn amazing invention. Money is never wasted.
Now, we do have quite a bit of economic inequality right now, especially here in the United States, but that is less a factor of the financial system than the political system, and plenty of countries with similar financial systems to ours have more equitable distributions of wealth.
At the end of the article it says BitCoin alternatives
There are plenty of alternatives to BitCoin.
You can use regular money on your grid by way of PayPal and PayPal Micropayments. These modules are widely available for OpenSim and many hosting companies will set you up for little or no extra cost.
You can use the OMC currency from Virwox — which also supports BitCoin trading, if you want your customers to have the option to use BitCoin in some capacity.
And you can issue your own currency. That has some legal implications as well (see yesterday’s article Virtual Currency 101), and you have to be careful about how your set up your currency, but if you do it right you get to keep all the money you make from selling your currency in addition to providing a fun, low-cost way for your users to spend money in-world.
Hosting companies Dreamland Metaverse and TalentRaspel specialize in setting up custom virtual currencies for private grids — and the Website infrastructure needed to manage them. And the currency modules are also available, if you have the technical skills to set it up on your own.
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Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem
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July 04, 2012, 04:27:51 PM |
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HAHAHAHA It's kind of funny, but this author has no understanding of the worldwide financial system nor basic macro economis 101. Don't you find it intriguing that the thing's he says to stay away from are the very things that attract us all to Bitcoin! 1. There are no BitCoin police > Wait, you mean there is no regulator that can stick their hands in my bank account and take all my money? Oh my gosh, what will I do! 2. BitCoins have no backers > This one is just lulz "BitCoins are like Beanie Babies — as long as people want them, their price will go up. " 3. BitCoins are volatile > Duh, so is every currency. In fact, the past 4 months have been the most stable...ever. Didn't Zimbabwes currency inflate by like 10000% in 2 years? 4. BitCoins may attract regulatory attention > This one pisses me off the most. EVERYTHING attracts regulatory attention. Author is not up to do on regulatory matters surrounding Bitcoin 5. BitCoins are unfair > Go cry
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Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer. More about me: http://CharlieShrem.com
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Portnoy
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My money; Our Bitcoin.
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July 04, 2012, 04:35:19 PM |
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Just a small correction... Don't you find it intriguing that the thing's he she says...
About the Author: Maria Korolov is editor and publisher of Hypergrid Business. She has been a journalist for more than twenty years and has worked for the Chicago Tribune, Reuters, and Computerworld and has reported from over a dozen countries, including Russia and China.
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Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem
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July 04, 2012, 04:39:38 PM |
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Just a small correction... Don't you find it intriguing that the thing's he she says...
About the Author: Maria Korolov is editor and publisher of Hypergrid Business. She has been a journalist for more than twenty years and has worked for the Chicago Tribune, Reuters, and Computerworld and has reported from over a dozen countries, including Russia and China. I stand corrected....but my statements still stand
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Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer. More about me: http://CharlieShrem.com
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Saturn7
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July 04, 2012, 04:42:45 PM |
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It's because of articles like this the value of bitcoin goes up.
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First there was Fire, then Electricity, and now Bitcoins
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kiba
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July 04, 2012, 04:43:18 PM |
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Clearly, she need an editor herself. Or maybe she's desperate for traffic, no matter how badly written the article is?
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Portnoy
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My money; Our Bitcoin.
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July 04, 2012, 04:59:04 PM |
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Clearly, she need an editor herself. Or maybe she's desperate for traffic, no matter how badly written the article is?
I liked the one theory presented in the comments that she is spreading FUD to try and drop the price so she can buy a bunch of them herself. Ya, I don't think she has that much influence...
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Gareth Nelson
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July 04, 2012, 05:13:47 PM |
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Before I even read the link, is that Maria's writing? If so, i'm disappointed - I know her work and she's usually better at not falling for common myths.
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grantbdev
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July 04, 2012, 05:53:54 PM |
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I died at this point: Then something sexier comes along — Justin Bieber, say, releases ByteCoin and gives away a free kiss to all users. What is to keep users from selling off their BitCoins and switching to ByteCoins?
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Don't use BIPS!
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pekv2
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July 04, 2012, 05:55:45 PM Last edit: July 06, 2012, 02:37:32 AM by pekv2 |
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How can a women take so much bashing and keep writing? Example of a posted comment. taking a glimpse at her blog explains it all… *link removed*
many more pearls like this written by Mrs. Maria K.
*facepalm* Someone that hates bitcoin is paying her to write this. Example of above quote. Hmmm.
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kiba
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July 04, 2012, 06:18:51 PM |
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If you see titles like this: "5 reasons to <blah>" or "Ten way <blah>", you know that the writer is desperate for traffic.
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kiba
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July 04, 2012, 06:20:55 PM |
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Then something sexier comes along — Justin Bieber, say, releases ByteCoin and gives away a free kiss to all users. What is to keep users from selling off their BitCoins and switching to ByteCoins? [/quote] Most bitcoiners are male. Either that, or the woman hates Justin Bieber.
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bitstarter
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July 04, 2012, 06:28:09 PM |
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I spat up my coffee when I read it haha
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Serith
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July 04, 2012, 07:06:07 PM Last edit: July 04, 2012, 09:13:20 PM by Serith |
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For an average person her arguments seem legit, and it couldn't be shrugged off as easy as "Ponzi Scheme" argument. I think that for the next year those will be most popular among Bitcoin detractors, not because it's good but because it's something general public understands. I know why she is wrong, but countering her arguments requires analytics and hard numbers, so I am going to play devil's advocate here to see what we can come up with.HAHAHAHA It's kind of funny, but this author has no understanding of the worldwide financial system nor basic macro economis 101. Don't you find it intriguing that the thing's he says to stay away from are the very things that attract us all to Bitcoin! 1. There are no BitCoin police > Wait, you mean there is no regulator that can stick their hands in my bank account and take all my money? Oh my gosh, what will I do! But what happens when your bitcoins get stolen, how can you get your money back from those responsible? 2. BitCoins have no backers
> This one is just lulz "BitCoins are like Beanie Babies — as long as people want them, their price will go up. "
Government has resources to buy the currency from you and force others to buy it even if it's not worth much, therefore you have some guarantees that it's not going to collapse overnight. 3. BitCoins are volatile
> Duh, so is every currency. In fact, the past 4 months have been the most stable...ever. Didn't Zimbabwes currency inflate by like 10000% in 2 years?
It is democracy in US, american people will not elect someone who would do something like what happened in Zimbabwe. 4. BitCoins may attract regulatory attention
> This one pisses me off the most. EVERYTHING attracts regulatory attention. Author is not up to do on regulatory matters surrounding Bitcoin
Bitcoin is a grey area right now but it will move towards being illegal or at least some aspects of it will, so people shouldn't bother to use Bitcoin because there is so much uncertainty around it. 5. BitCoins are unfair
> Go cry
The more people use Bitcoin the more rich it makes early adopters, despite the fact that they are doing nothing to increase their wealth.
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ArticMine
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Monero Core Team
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July 04, 2012, 07:51:34 PM |
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... 3. BitCoins are volatile
> Duh, so is every currency. In fact, the past 4 months have been the most stable...ever. Didn't Zimbabwes currency inflate by like 10000% in 2 years?
...
This is way off. The annual inflation rate in Zimbabwe reached 6.5 × 10 108% in December 2008. http://en.wikipedia.org/wiki/Zimbabwean_dollar. When government fiat currencies go bad they can go really bad not just 10000%
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madberry
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July 04, 2012, 08:06:51 PM |
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Doesn't take criticism very well my comment was deleted twice. I didn't even use profanity. LOL
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markm
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July 04, 2012, 08:07:54 PM |
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When people stop wanting them, their perceived value will drop through the floor. And, unlike with Beanie Babies, there’s no hope that if you wait long enough they’ll come back into fashion or become historic collectibles.
Thank goodness I got rid of all mine when they dropped through the $2 flloor... ...Oh wait, I didn't. My bad. -MarkM-
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ineededausername
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July 04, 2012, 08:50:05 PM |
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"People [will suddenly] stop wanting them"
hehehe
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(BFL)^2 < 0
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Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem
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July 04, 2012, 09:16:48 PM |
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For an average person her arguments seem legit, and it couldn't be shrugged off as easy as "Ponzi Scheme" argument. I think that for the next year those will be most popular among Bitcoin detractors, not because it's good but because it's something general public understands. I know why she is wrong, but countering her arguments requires analytics and hard numbers, so I am going to play devil's advocate here to see what we can come up with.
Was just poking fun at her article, if I wanted to counter it, I would have used bigger words
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Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer. More about me: http://CharlieShrem.com
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Serith
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July 04, 2012, 10:12:06 PM |
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For an average person her arguments seem legit, and it couldn't be shrugged off as easy as "Ponzi Scheme" argument. I think that for the next year those will be most popular among Bitcoin detractors, not because it's good but because it's something general public understands. I know why she is wrong, but countering her arguments requires analytics and hard numbers, so I am going to play devil's advocate here to see what we can come up with.
Was just poking fun at her article, if I wanted to counter it, I would have used bigger words We will hear those arguments repeated over and over again, I was just thinking that maybe we should try to come up with the answers in a wiki-like format.
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justusranvier
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July 05, 2012, 03:10:05 AM |
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We will hear those arguments repeated over and over again, I was just thinking that maybe we should try to come up with the answers in a wiki-like format.
Or perhaps something like this: https://bitcointalk.org/index.php?topic=89772
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Phinnaeus Gage
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Bitcoin: An Idea Worth Spending
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July 05, 2012, 03:50:17 AM |
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Many people believe that governments create money by printing new bills whenever they need more spending cash. But that’s not actually true.
Money is created when banks lend it out. If you have, say, $100 in your bank account, and the bank lends $90 of it to someone else to start a business, the total amount of money effectively in circulation has almost doubled. I will no longer be involved with Bitcoin after today upon reading the above. Anybody want to my my user name on this forum? Senior Writer Computerworld Privately Held; 51-200 employees; Publishing industry February 2000 – May 2001 (1 year 4 months)
Covered the financial services beat, with occasional technology management features. Travel included technology conferences around the United States and a week-long trip to Russia to interview that country's top banking officials. I can't wait to read what the Junior writers pen. Perhaps stuff my 10-year-old nephew can grasp.
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niko
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July 05, 2012, 04:18:33 AM |
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*facepalm*
Someone that hates bitcoin is paying her to write this. Example of above quote. Hmmm.
Hosting companies Dreamland Metaverse and TalentRaspel specialize in setting up custom virtual currencies for private grids — and the Website infrastructure needed to manage them. And the currency modules are also available, if you have the technical skills to set it up on your own.
The article actually links to these two.
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They're there, in their room. Your mining rig is on fire, yet you're very calm.
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markm
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July 05, 2012, 06:31:50 AM |
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So maybe the translation is simply "we don't yet have a module that uses bitcoin as the primary in-world currency, so until we do bitcoin is a bad idea".
-MarkM-
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edmundedgar
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July 06, 2012, 01:40:12 AM |
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So maybe the translation is simply "we don't yet have a module that uses bitcoin as the primary in-world currency, so until we do bitcoin is a bad idea".
I don't think that's what she's getting at - most of her objections seem to be quite fundamental. Actually that was the strangest thing about the piece - she goes into all that weird, abstract stuff about early adopters being undeserving and banks making your money work hard, without mentioning the fact that there is no practical way for grid owners to use Bitcoin even if they want to, because nobody's written a Bitcoin money module yet. Anyhow I wrote a response here. I've tried to keep it specific to actual practical concerns faced by people who operate OpenSim grids, and if people make more general comments about fiat banking and things I reserve the right to moderate them. http://edmundintokyo.wordpress.com/2012/07/04/5-reasons-grids-should-use-bitcoin-if-i-ever-get-around-to-finishing-the-money-server/
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Raoul Duke
aka psy
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July 06, 2012, 02:22:30 AM |
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*facepalm*
Someone that hates bitcoin is paying her to write this. Example of above quote. Hmmm.
Hosting companies Dreamland Metaverse and TalentRaspel specialize in setting up custom virtual currencies for private grids — and the Website infrastructure needed to manage them. And the currency modules are also available, if you have the technical skills to set it up on your own.
The article actually links to these two. The article actually was paid by those two, who may well be one and the same lol
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pekv2
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July 06, 2012, 02:27:48 AM |
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*facepalm*
Someone that hates bitcoin is paying her to write this. Example of above quote. Hmmm.
Hosting companies Dreamland Metaverse and TalentRaspel specialize in setting up custom virtual currencies for private grids — and the Website infrastructure needed to manage them. And the currency modules are also available, if you have the technical skills to set it up on your own.
The article actually links to these two. The article actually was paid by those two, who may well be one and the same lol I am confused, my quote is linked in the article? I don't follow, could someone explain to me in a way I might understand?
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Raoul Duke
aka psy
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July 06, 2012, 02:36:06 AM |
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*facepalm*
Someone that hates bitcoin is paying her to write this. Example of above quote. Hmmm.
Hosting companies Dreamland Metaverse and TalentRaspel specialize in setting up custom virtual currencies for private grids — and the Website infrastructure needed to manage them. And the currency modules are also available, if you have the technical skills to set it up on your own.
The article actually links to these two. The article actually was paid by those two, who may well be one and the same lol I am confused, my quote is linked in the article? I don't follow, could someone explain to me in a way I might understand? No, the 2 companies on that quote below yours are linked from the article, on the last paragraph. Altho it' just links to blog posts about those comanies, it's still advertising. Nothing more than a sponsored blog post.
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pekv2
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July 06, 2012, 02:37:05 AM |
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*facepalm*
Someone that hates bitcoin is paying her to write this. Example of above quote. Hmmm.
Hosting companies Dreamland Metaverse and TalentRaspel specialize in setting up custom virtual currencies for private grids — and the Website infrastructure needed to manage them. And the currency modules are also available, if you have the technical skills to set it up on your own.
The article actually links to these two. The article actually was paid by those two, who may well be one and the same lol I am confused, my quote is linked in the article? I don't follow, could someone explain to me in a way I might understand? No, the 2 companies on that quote below yours are linked from the article, on the last paragraph. Altho it' just links to blog posts about those comanies, it's still advertising. Nothing more than a sponsored blog post. Oh, I'm removing it out of my post then.
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augustocroppo
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July 06, 2012, 02:59:05 AM |
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You also get the full weight of the FBI, Interpol, and various other local and global agencies who are busy chasing financial criminals. She must deal a lot with the FBI and Interpol...
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niko
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July 06, 2012, 03:44:49 AM |
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You also get the full weight of the FBI, Interpol, and various other local and global agencies who are busy chasing financial criminals. She must deal a lot with the FBI and Interpol... Yeah, the quality of the photo and of her writing are appropriate...
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They're there, in their room. Your mining rig is on fire, yet you're very calm.
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R-
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Pasta
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July 06, 2012, 03:48:43 AM |
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5. Bitcoins are unfair
Yeah bitch, life is unfair.
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Leezyist
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July 06, 2012, 04:18:00 AM |
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This article makes me want to rage and facepalm at the same time. -_-
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Xenland (OP)
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I'm not just any shaman, I'm a Sha256man
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July 06, 2012, 04:18:31 AM |
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This article makes me want to rage and facepalm at the same time. -_-
Just remember we were nubs once.....
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Gabi
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If you want to walk on water, get out of the boat
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July 06, 2012, 10:19:09 AM |
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Boussac
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e-ducat.fr
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July 06, 2012, 12:28:15 PM |
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Many financial firms will even cover your losses for you — credit card customers, for example, aren’t liable for fraudulent charges made to their accounts. Dear "Sponsored Blogger" Maria Your post is a fail of gigantic proportion except for the reply-generation and traffic you are getting thanks to the bitcoin forum. There are many ways to reply to it but I will address just one of the many fallacies your article is riddled with. Credit card fraud is growing. +12% last year in the country where I live (France) in spite of 3DS and other pathetic attempts of security by propaganda. The cost of credit card fraud is borne mostly by online merchants who are then forced to integrate it as a premium in the price offered to their customers. The bitcoin technology is an innovation by which people can buy online without using their credit card number: it's just faster, simpler and safer. This reason alone convinced me that bitcoin is going to be huge as a transaction network. Will it be big as a stand alone currency as well ? Future will tell but my bet is that if the network is bound to be successful, the currency flowing through it will start being happily accepted by merchants without automatic conversion to fiat.
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evoorhees
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Democracy is the original 51% attack
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July 06, 2012, 01:17:40 PM |
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It is the same phenomenon that occurs whenever Paul Krugman writes about something - seeing someone who is so retarded, come out in opposition to one's position, makes a wonderful argument for why that position is actually valid.
In any case, I deemed this article the Worst Bitcoin Article of All Time.
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cypherdoc
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July 06, 2012, 02:53:57 PM |
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It is the same phenomenon that occurs whenever Paul Krugman writes about something - seeing someone who is so retarded, come out in opposition to one's position, makes a wonderful argument for why that position is actually valid.
In any case, I deemed this article the Worst Bitcoin Article of All Time.
Krug even looks retarded.
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Gareth Nelson
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July 13, 2012, 10:23:46 AM |
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It is the same phenomenon that occurs whenever Paul Krugman writes about something - seeing someone who is so retarded, come out in opposition to one's position, makes a wonderful argument for why that position is actually valid.
In any case, I deemed this article the Worst Bitcoin Article of All Time.
True in this case but not in general: http://lesswrong.com/lw/lw/reversed_stupidity_is_not_intelligence/
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