There is no problem selling $250k of bitcoin these days. In the last 24 hours, $150 million dollars worth of bitcoin was traded on gdax. That's just one exchange. I could sell $250k of bitcoin right now on gdax and the price of bitcoin would go down less than a dollar. There is a lot of liquidity in the bitcoin market.
Joining slashdot 18+ years ago was all part of my master plan to scam people today. I'm impressed how you unraveled my plan. You know what, I know that I'm not a scammer. I don't understand why you are labeling people as scammers without any proof. My point was that I'm super grateful that I read that article about bitcoin on slashdot back in the day. It's kind of insane that wasting time on slashdot has paid off for me.
Now imagine if I had a beowolf cluster of gpu miners back in 2011.
Back in 2011, Slashdot had a post about bitcoin. I thought it sounded interesting. So, I mined some and sent some money via dwolla to tradehill to mt.gox or something crazy like that and bought some. That $300 is now worth over $250k. I don't remember there being that many hater on the thread back then. If there were, I'm glad I didn't listen to them.
A problem with wire transfers is that you need to share your account information. With that account information the other party can initiate a debit transfer. The debit transfer can be challenged within a certain amount of time.
Another example is when you sell something online and ship the item and the buyer used a stolen credit card or the buyer called their credit card company and asks for a chargeback.
Bitcoin is not a company or a sentient being so it's not trying to be anything. It's a platform for storing value and transferring value. How people use it is up to those people. Your question is like asking, Is the Internet trying to be a currency, or an investment scheme. Or is the internet trying to be a library, or a card catalog.
Bitcoin is a limited resource. Only 21 million bitcoins will ever exist. So, some people see that and think that there is a potential that a significant number of people(significant amount of value) will use it to transfer and to store value. If that happens, than the price of bitcoin will go up. So they buy some as an investment. It can also be used as a currency to transfer value. In some cases, the value of a bitcoin doesn't matter when it comes to transfer value. Let's say I want to buy a product listed at $100 USD on Overstock. I could buy a $100 worth of bitcoin and then purchases the item. Overstock than can immediately convert those bitcoins into $100 USD. The value of a bitcoin doesn't matter in this case. Even if it fluctuates wildly. You're probably think, "Great. Why won't I just use a credit card?". Great question. There are a number of answers to this. One use case, imagine I'm a US company and I ship worldwide. A customer wants to buy $5000 of product. I ship the product. They contact their credit card company and say it was a fraudulent charge and they issue a chargeback. My company is out of $5000 and there is not much recourse. Do you know of any payment options where the risk of chargeback is not present? The only one that I know is bitcoin(and other cryptocurrencies).
Does PayPal provide a service? If so, doesn't it reason that Bitcoin provides a service?
The two obvious services that bitcoin provides are the ability to transfer value and to store value. Venezuela's currency is experiencing hyper inflation. If I lived in that country, I would be trying to convert from holding value in that currency to something else.
It wasn't designed to do any of those things. The problem that Bitcoin was designed to solve was how to transfer value without needing to rely on a central authority. The most common central authority for transferring of value is a bank.
Btw, have you installed SuSE or Mandrake lately? For me, the Mandrake installer was easier and faster then the Win2k installer.
Mandrake was easier because I could use my SCSI cd-rom to install whereas Win2k couldn't. Mandrake installer asked all the questions up-front. Win2k doesn't.
Mandrake installed in under 10 minutes. Win2k took about an hour.
To me it sounds like it took a gaint leap backward. It doesn't ask questions because it makes a ton of assumptions for you.(ie use only one user. root!). And you know what happens when you assume.
The other day I was handed a packet from a teacher which contain mostly material copied from textbooks. A lot of the material had no source info and some of it was dated from 1984!!
I did a little searching to see if the teacher was allowed to do this through some loophole in copyright laws. To me, it seems like he is completely violating the law. This is happening at a very prestigious school by a professor that has been there for 20+ years.
http://fairuse.stanford.edu/
http://www.loc.gov/copyright/
http://www.education-world.com/a_curr/curr280.sh tm l
While, I was setting up my dual Athlon system. I wanted to test system with just one processor in it. So, I took the fan off and forgot to remove the processor. The processor fried in under 2 seconds. It was my dumb mistake so instead of returning the processor, I bought a new one.
After this recent news, maybe it wasn't my fault. Who's responsible? Am I for making such a dumb mistake or AMD for not providing good thermal protection?
When Will We Learn?
by Harry Browne
September 12, 2001
The terrorist attacks against America comprise a horrible tragedy. But
they shouldn't be a surprise.
It is well known that in war, the first casualty is truth - that
during any war truth is forsaken for propaganda. But sanity was a
prior casualty: it was the loss of sanity that led to war in the first
place.
Our foreign policy has been insane for decades. It was only a matter
of time until Americans would have to suffer personally for it. It is
a terrible tragedy of life that the innocent so often have to suffer
for the sins of the guilty.
When will we learn that we can't allow our politicians to bully the
world without someone bullying back eventually?
President Bush has authorized continued bombing of innocent people in
Iraq. President Clinton bombed innocent people in the Sudan,
Afghanistan, Iraq, and Serbia. President Bush Senior invaded Iraq and
Panama. President Reagan bombed innocent people in Libya and invaded
Grenada. And on and on it goes.
Did we think the people who lost their families and friends and
property in all that destruction would love America for what happened?
When will we learn that violence always begets violence?
Teaching Lessons
Supposedly, Reagan bombed Libya to teach Muammar al-Qaddafi a lesson
about terrorism. But shortly thereafter a TWA plane was destroyed over
Scotland, and our government is convinced it was Libyans who did it.
When will we learn that "teaching someone a lesson" never teaches
anything but resentment - that it only inspires the recipient to
greater acts of defiance.
How many times on Tuesday did we hear someone describe the terrorist
attacks as "cowardly acts"? But as misguided and despicable as they
were, they were anything but cowardly. The people who committed them
knowingly gave their lives for whatever stupid beliefs they held.
But what about the American presidents who order bombings of innocent
people - while the presidents remain completely insulated from any
danger? What would you call their acts?
When will we learn that forsaking truth and reason in the heat of
battle almost always assures that we will lose the battle?
Losing our Last Freedoms
And now, as sure as night follows day, we will be told we must give up
more of our freedoms to avenge what never should have happened in the
first place.
When will we learn that it makes no sense to give up our freedoms in
the name of freedom?
What to Do
What should be done?
First of all, stop the hysteria. Stand back and ask how this could
have happened. Ask how a prosperous country isolated by two oceans
could have so embroiled itself in other people's business that someone
would want to do us harm. Even sitting in the middle of Europe,
Switzerland isn't beset by terrorist attacks, because the Swiss mind
their own business.
Second, resolve that we won't let our leaders use this occasion to
commit their own terrorist acts upon more innocent people, foreign and
domestic, that will inspire more terrorist attacks in the future.
Third, find a way, with enforceable constitutional limits, to prevent
our leaders from ever again provoking this kind of anger against
America.
Patriotism?
There are those who will say this article is unpatriotic and
un-American - that this is not a time to question our country or our
leaders.
When will we learn that without freedom and sanity, there is no reason
to be patriotic?
Harry Browne was the 2000 Libertarian presidential candidate. You can
read more of his articles at www.HarryBrowne.org, and his books are
available at www.HBBooks.com.
He distributed a proof of concept at defcon. It was a crippled version that only allow x% of the book to be shown. I'm not a lawyer, but I feel there is an argument that he didn't break any laws. So, lets give him the right of being innocent until proven guilty.
Slashdot Mirror
That's an excellent point. Though, you do realize the US dollar is the petrodollar?
How so?
There is no problem selling $250k of bitcoin these days. In the last 24 hours, $150 million dollars worth of bitcoin was traded on gdax. That's just one exchange. I could sell $250k of bitcoin right now on gdax and the price of bitcoin would go down less than a dollar. There is a lot of liquidity in the bitcoin market.
Joining slashdot 18+ years ago was all part of my master plan to scam people today. I'm impressed how you unraveled my plan. You know what, I know that I'm not a scammer. I don't understand why you are labeling people as scammers without any proof. My point was that I'm super grateful that I read that article about bitcoin on slashdot back in the day. It's kind of insane that wasting time on slashdot has paid off for me.
Now imagine if I had a beowolf cluster of gpu miners back in 2011.
Are you calling me a scammer? I've been on slashdot a lot longer than you have.
Back in 2011, Slashdot had a post about bitcoin. I thought it sounded interesting. So, I mined some and sent some money via dwolla to tradehill to mt.gox or something crazy like that and bought some. That $300 is now worth over $250k. I don't remember there being that many hater on the thread back then. If there were, I'm glad I didn't listen to them.
There are a number of exchanges where you can short it. https://www.bitmex.com/ is one of them.
A problem with wire transfers is that you need to share your account information. With that account information the other party can initiate a debit transfer. The debit transfer can be challenged within a certain amount of time.
An example of when that was a problem was when banks imposed a bank deposit levy in Cyrpus in 2012.
https://en.wikipedia.org/wiki/2012%E2%80%9313_Cypriot_financial_crisis
Another example is when you sell something online and ship the item and the buyer used a stolen credit card or the buyer called their credit card company and asks for a chargeback.
Bitcoin is not a company or a sentient being so it's not trying to be anything. It's a platform for storing value and transferring value. How people use it is up to those people. Your question is like asking, Is the Internet trying to be a currency, or an investment scheme. Or is the internet trying to be a library, or a card catalog.
Bitcoin is a limited resource. Only 21 million bitcoins will ever exist. So, some people see that and think that there is a potential that a significant number of people(significant amount of value) will use it to transfer and to store value. If that happens, than the price of bitcoin will go up. So they buy some as an investment. It can also be used as a currency to transfer value. In some cases, the value of a bitcoin doesn't matter when it comes to transfer value. Let's say I want to buy a product listed at $100 USD on Overstock. I could buy a $100 worth of bitcoin and then purchases the item. Overstock than can immediately convert those bitcoins into $100 USD. The value of a bitcoin doesn't matter in this case. Even if it fluctuates wildly. You're probably think, "Great. Why won't I just use a credit card?". Great question. There are a number of answers to this. One use case, imagine I'm a US company and I ship worldwide. A customer wants to buy $5000 of product. I ship the product. They contact their credit card company and say it was a fraudulent charge and they issue a chargeback. My company is out of $5000 and there is not much recourse. Do you know of any payment options where the risk of chargeback is not present? The only one that I know is bitcoin(and other cryptocurrencies).
Does PayPal provide a service? If so, doesn't it reason that Bitcoin provides a service?
The two obvious services that bitcoin provides are the ability to transfer value and to store value. Venezuela's currency is experiencing hyper inflation. If I lived in that country, I would be trying to convert from holding value in that currency to something else.
It wasn't designed to do any of those things. The problem that Bitcoin was designed to solve was how to transfer value without needing to rely on a central authority. The most common central authority for transferring of value is a bank.
I have never seen this Kyte player before but it's really cool. Where did they come from?
all those good tech workers are going to be out of there.
Btw, have you installed SuSE or Mandrake lately? For me, the Mandrake installer was easier and faster then the Win2k installer.
Mandrake was easier because I could use my SCSI cd-rom to install whereas Win2k couldn't. Mandrake installer asked all the questions up-front. Win2k doesn't.
Mandrake installed in under 10 minutes. Win2k took about an hour.
To me it sounds like it took a gaint leap backward. It doesn't ask questions because it makes a ton of assumptions for you.(ie use only one user. root!). And you know what happens when you assume.
Have you tried mplayer? http://www.mplayerhq.hu/homepage/
It works better for me then any windows dvd player. Very few skips compared to the Windows dvd players.
The other day I was handed a packet from a teacher which contain mostly material copied from textbooks. A lot of the material had no source info and some of it was dated from 1984!!
h tm l
I did a little searching to see if the teacher was allowed to do this through some loophole in copyright laws. To me, it seems like he is completely violating the law. This is happening at a very prestigious school by a professor that has been there for 20+ years.
http://fairuse.stanford.edu/
http://www.loc.gov/copyright/
http://www.education-world.com/a_curr/curr280.s
While, I was setting up my dual Athlon system. I wanted to test system with just one processor in it. So, I took the fan off and forgot to remove the processor. The processor fried in under 2 seconds. It was my dumb mistake so instead of returning the processor, I bought a new one.
After this recent news, maybe it wasn't my fault. Who's responsible? Am I for making such a dumb mistake or AMD for not providing good thermal protection?
Yesterday's events might never have happened if we didn't love our cars so much.
Harry Browne of the libertarian party thoughts:
http://www.antiwar.com/orig/browne2.html
When Will We Learn?
by Harry Browne
September 12, 2001
The terrorist attacks against America comprise a horrible tragedy. But
they shouldn't be a surprise.
It is well known that in war, the first casualty is truth - that
during any war truth is forsaken for propaganda. But sanity was a
prior casualty: it was the loss of sanity that led to war in the first
place.
Our foreign policy has been insane for decades. It was only a matter
of time until Americans would have to suffer personally for it. It is
a terrible tragedy of life that the innocent so often have to suffer
for the sins of the guilty.
When will we learn that we can't allow our politicians to bully the
world without someone bullying back eventually?
President Bush has authorized continued bombing of innocent people in
Iraq. President Clinton bombed innocent people in the Sudan,
Afghanistan, Iraq, and Serbia. President Bush Senior invaded Iraq and
Panama. President Reagan bombed innocent people in Libya and invaded
Grenada. And on and on it goes.
Did we think the people who lost their families and friends and
property in all that destruction would love America for what happened?
When will we learn that violence always begets violence?
Teaching Lessons
Supposedly, Reagan bombed Libya to teach Muammar al-Qaddafi a lesson
about terrorism. But shortly thereafter a TWA plane was destroyed over
Scotland, and our government is convinced it was Libyans who did it.
When will we learn that "teaching someone a lesson" never teaches
anything but resentment - that it only inspires the recipient to
greater acts of defiance.
How many times on Tuesday did we hear someone describe the terrorist
attacks as "cowardly acts"? But as misguided and despicable as they
were, they were anything but cowardly. The people who committed them
knowingly gave their lives for whatever stupid beliefs they held.
But what about the American presidents who order bombings of innocent
people - while the presidents remain completely insulated from any
danger? What would you call their acts?
When will we learn that forsaking truth and reason in the heat of
battle almost always assures that we will lose the battle?
Losing our Last Freedoms
And now, as sure as night follows day, we will be told we must give up
more of our freedoms to avenge what never should have happened in the
first place.
When will we learn that it makes no sense to give up our freedoms in
the name of freedom?
What to Do
What should be done?
First of all, stop the hysteria. Stand back and ask how this could
have happened. Ask how a prosperous country isolated by two oceans
could have so embroiled itself in other people's business that someone
would want to do us harm. Even sitting in the middle of Europe,
Switzerland isn't beset by terrorist attacks, because the Swiss mind
their own business.
Second, resolve that we won't let our leaders use this occasion to
commit their own terrorist acts upon more innocent people, foreign and
domestic, that will inspire more terrorist attacks in the future.
Third, find a way, with enforceable constitutional limits, to prevent
our leaders from ever again provoking this kind of anger against
America.
Patriotism?
There are those who will say this article is unpatriotic and
un-American - that this is not a time to question our country or our
leaders.
When will we learn that without freedom and sanity, there is no reason
to be patriotic?
Harry Browne was the 2000 Libertarian presidential candidate. You can
read more of his articles at www.HarryBrowne.org, and his books are
available at www.HBBooks.com.
Plutonium, uranium, kiddie-porn, terrorism, bomb making, marijuana, pot, cocaine, J edgar hoover, herion, crack, blowing up, intern sex, kill the president, nuclear bomb, top-secret, russian, meth, lab, electronic bug, whitehouse, mueller bullet, iraq, bin laden, mob,...
I have 2 words to say to you FBI and they ain't merry christmas!
Encrypt all communications!
Actually, Ken Thompson wrote a 3D game called Space Travel in the late '60s. Space Travel. It might not be the earliest 3D game but it must be close.
He distributed a proof of concept at defcon. It was a crippled version that only allow x% of the book to be shown. I'm not a lawyer, but I feel there is an argument that he didn't break any laws. So, lets give him the right of being innocent until proven guilty.