Low interest rates because the govt is printing money (via the Federal Reserve) to lend to banks to lend to buyers.
If you actually had to borrow that money from people who are investing to, y'know, save for their retirement or rainy days & such, interest rates would be higher. Instead, they have to watch while their savings dwindle in true value due to inflation (the aforementioned printing).
Hence Bitcoin.
Yeah, the price dropped. Discovery is an interesting process. It's still up on April's ATH and more European bail-ins will make things interesting in 2014.
I've actually considered releasing two versions of my app to allow people this fine grained control. There's some really neat features I could add by adding location services but I am conscious that there are some people who would balk at that. If it was an "optional" setting, it would be a no-brainer.
At which point you sell some gold or bitcoins. Meanwhile the person who kept cash finds that their cash is now only worth 95% of what it was last year because King John is running the presses through the night.
You have it correct. The issue becomes the requirement for $$$ and the payment of taxes. Note that if you ran a dual payment system, it is quite possible that you could make enough $$$ to pay your taxes entirely from that part of the income and keep the BTC as BTC. Of course, then there are issues of how you actually spend those BTC. But that is all part of the adoption curve.
However, the point is that it's cheap and easy to receive the BTC. The conversion to dollars, or other currency, if required, is a separate issue of infrastructure, not an issue with Bitcoin itself. I think you understand it but globaljustin does not.
Hmm. ISWYM. The metadata would definitely be the way to go with that. It could be stored as an "add on" rather than in the blockchain itself possibly and not be part of the protocol itself.
I think we'll probably be seeing a lot more in the way of lightweight clients. That is also a transfer of trust though and people running full clients need to be encouraged.
Have you looked at how much federal insurance is available to the banks? It doesn't cover enough. Of course, in the event of a catastrophe, the government will just bail them out and run the presses (read: steal money from everyone to bail out the rich).
How so? Bear in mind that simple variances in the exchange rate do not make a currency inflationary or deflationary. Bitcoin is currently still in an inflationary stage.
We don't live under Keynesian economics, we live under real-world economics that's being fucked up by intervention by Keynesian economists (though many/most of those aren't so much Keynesian so much as they recognize a good excuse to steal your wealth when they see it).
Deflation is inevitable. The question is whether that is an issue. Quite a few of us believe that it is not and that the idea that it is is a lie created by those who want to inflate the currency in order to confiscate your wealth.
Slashdot Mirror
Low interest rates because the govt is printing money (via the Federal Reserve) to lend to banks to lend to buyers.
If you actually had to borrow that money from people who are investing to, y'know, save for their retirement or rainy days & such, interest rates would be higher. Instead, they have to watch while their savings dwindle in true value due to inflation (the aforementioned printing).
Hence Bitcoin.
Yeah, the price dropped. Discovery is an interesting process. It's still up on April's ATH and more European bail-ins will make things interesting in 2014.
Every sale is also a buy. Derp.
I've actually considered releasing two versions of my app to allow people this fine grained control. There's some really neat features I could add by adding location services but I am conscious that there are some people who would balk at that. If it was an "optional" setting, it would be a no-brainer.
At which point you sell some gold or bitcoins. Meanwhile the person who kept cash finds that their cash is now only worth 95% of what it was last year because King John is running the presses through the night.
I guess you don't live in a country that is running the presses until they glow red hot. Where is that?
You have it correct. The issue becomes the requirement for $$$ and the payment of taxes. Note that if you ran a dual payment system, it is quite possible that you could make enough $$$ to pay your taxes entirely from that part of the income and keep the BTC as BTC. Of course, then there are issues of how you actually spend those BTC. But that is all part of the adoption curve.
However, the point is that it's cheap and easy to receive the BTC. The conversion to dollars, or other currency, if required, is a separate issue of infrastructure, not an issue with Bitcoin itself. I think you understand it but globaljustin does not.
Taking BTC is free. Wanting $$$ from your BTC is not free.
It is OK that you don't want to take BTC. Just understand where the issue actually is.
Hmm. ISWYM. The metadata would definitely be the way to go with that. It could be stored as an "add on" rather than in the blockchain itself possibly and not be part of the protocol itself.
I think we'll probably be seeing a lot more in the way of lightweight clients. That is also a transfer of trust though and people running full clients need to be encouraged.
Bitcoin doesn't care what box you want to put it in.
Bitcoin doesn't care, period.
And that's a real period, not one of those Obama ones.
And make a backup.
It's an illusion. Ask the people of Cyprus.
Have you looked at how much federal insurance is available to the banks? It doesn't cover enough. Of course, in the event of a catastrophe, the government will just bail them out and run the presses (read: steal money from everyone to bail out the rich).
If you are rich, you pay someone else to set up your VM, no? Or more likely you have a dedicated system.
Forget the VM then. Buy a small, cheap netbook, set up a client and keep it shutdown and offline when not performing transactions.
That's still a little over-pricey but cheap hardware wallets are on their way.
Bootable USB keys also work.
Yes. I thought this was an inside joke for a couple of months before I found out the truth.
Ah yes, Silk Road that was shutdown and the price barely blipped downward before starting on a new upward trend. Essential to Bitcoin?
God forbid he should ever want to sell internationally. He'd have a fit.
No, you have to pay for the privilege of having $$$.
You have a fiat problem, not a Bitcoin problem.
How so? Bear in mind that simple variances in the exchange rate do not make a currency inflationary or deflationary. Bitcoin is currently still in an inflationary stage.
We don't live under Keynesian economics, we live under real-world economics that's being fucked up by intervention by Keynesian economists (though many/most of those aren't so much Keynesian so much as they recognize a good excuse to steal your wealth when they see it).
It's currently still inflating (the monetary base is increasing). The exchange rate with the dollar is on a bit of a climb though.
The "market cap" is meaningless anyway.
I have considered a similar plot but perhaps with a QR code printed on a T-shirt worn by somebody in a photograph...
Deflation is inevitable. The question is whether that is an issue. Quite a few of us believe that it is not and that the idea that it is is a lie created by those who want to inflate the currency in order to confiscate your wealth.
Market opportunity for someone to make "cool" earplugs? Dr Dre "Unbeaten"s or suchlike?
localbitcoins.com