> This is the kind of thing that antitrust laws are supposed to stop. Unfortunately, we don't do antitrust enforcement in the U.S. any more, at least not in any meaningful sense.
That would be because antitrust laws are meant to help end competition for existing monopolies.
You're welcome.:) Bitcoin does have some problems, and I dearly wish the "nerds" around here would wake up enough to learn about bitcoin so we could have a serious conversation about it. Bitcointalk and reddit are hive minds in my opinion.
Oddly, though, the more I learn about how bitcoin works and how it is intended to work in the future, the more those problems melt away. Almost as if the problem is my own ignorance.
A few months ago, I saw lots of posts ridiculing bitcoin because no major vendors accepted it. Well, now a major vendor accepts it.:) The thing is, none of these arguments have any merit whatsoever. There are problems with bitcoin, but I have never seen anyone on Slashdot know enough about bitcoin to clearly elucidate any of them.
For a site that is so "nerd-centric", Slashdot sure has a lot of uninformed circle-jerkers. Amazing. And amusing.
When you get right down to it, the US dollar is a giant scam. So if we assume that bitcoin is a scam...which is more scammy? Thanks, I'll take the one that isn't engineered to impoverish all but the connected elite.
I just love it when bitcoin posts show up on Slashdot. The circle-jerk of anti-bitcoin butthurt makes me so happy. It's quieting down, though. We've got a major retailer accepting bitcoin, now.
Shouldn't you have gotten some bitcoins when they were $0.30 each, not so long ago?
Some of us are paying our taxes in bitcoin. Some of us are paying for gasoline with bitcoin. I am paying for local groceries and Amazon purchases with bitcoin. How long before all you anti-bitcoin circlejerkers realize what you have missed out on? I can't wait! It makes me giggle.
It's like watching Apple fanbois get crushed by the Android behemoth. I'm still smiling.
You clearly have never used bitcoins to buy real goods. As someone who does use bitcoins to buy groceries and household goods, the volatility is nowhere near the problem you think it is.
Go ahead, keep missing out. Today's millibitcoins will be tomorrow's microbitcoins.
Your points are all good. I think bitcoins is too volatile, however, to denominated any long-term contracts. The deflation rate is high because velocity is low. Bitcoins gain in value hundreds of percent per year, and can lose 50% or more in moments.
I feel that something needs to be built on top of bitcoin. Perhaps a futures market, and we perform all transactions in futures contracts instead of the currency itself?
Because income diminishes over time. Say you loan me 25 bc. Let us assume I earn 1 bitcoins per week, and that amount will buy 5 MacBook Pros. At the end of six months, that amount will buy 10 MacBook Pros, and I am earning only 0.5 btc per week.
Debt in a deflationary currency becomes harder to pay off over time.
You'd be stupid to admit to owning that much on a public forum. But then you admit to owning guns on a public forum so maybe some folks just don't care about getting doxxed.
Chargebacks and volatility seem not be a concern for the growing number of merchants and their customers who are adopting bitcoin.
You have clearly never used bitcoin. Volatility is not the problem you make it out to be. If you were speaking from experience instead of helpless raging impotence that you missed the biggest boat of a lifetime, you would know this.
Slashdot Mirror
I'm gonna grow up to be a luddite anarchist. Fuck this shit.
How about accidental damage to the GPS unit as I am changing the oil?
> This is the kind of thing that antitrust laws are supposed to stop. Unfortunately, we don't do antitrust enforcement in the U.S. any more, at least not in any meaningful sense.
That would be because antitrust laws are meant to help end competition for existing monopolies.
The first thing I'll be doing is hunting around with ball-peen hammer for the GPS module.
The end.
Wow, that is amazing! And a heartwarming story. Thank you! And good luck.
So it goes, I know I'm the browncoat in an Alliance bar. :)
You're welcome. :) Bitcoin does have some problems, and I dearly wish the "nerds" around here would wake up enough to learn about bitcoin so we could have a serious conversation about it. Bitcointalk and reddit are hive minds in my opinion.
Oddly, though, the more I learn about how bitcoin works and how it is intended to work in the future, the more those problems melt away. Almost as if the problem is my own ignorance.
Ouch!
A few months ago, I saw lots of posts ridiculing bitcoin because no major vendors accepted it. Well, now a major vendor accepts it. :) The thing is, none of these arguments have any merit whatsoever. There are problems with bitcoin, but I have never seen anyone on Slashdot know enough about bitcoin to clearly elucidate any of them.
For a site that is so "nerd-centric", Slashdot sure has a lot of uninformed circle-jerkers. Amazing. And amusing.
When you get right down to it, the US dollar is a giant scam. So if we assume that bitcoin is a scam...which is more scammy? Thanks, I'll take the one that isn't engineered to impoverish all but the connected elite.
I just love it when bitcoin posts show up on Slashdot. The circle-jerk of anti-bitcoin butthurt makes me so happy. It's quieting down, though. We've got a major retailer accepting bitcoin, now.
Shouldn't you have gotten some bitcoins when they were $0.30 each, not so long ago?
Some of us are paying our taxes in bitcoin. Some of us are paying for gasoline with bitcoin. I am paying for local groceries and Amazon purchases with bitcoin. How long before all you anti-bitcoin circlejerkers realize what you have missed out on? I can't wait! It makes me giggle.
It's like watching Apple fanbois get crushed by the Android behemoth. I'm still smiling.
Not at all. Coinbase/Bitpay exist so vendors can receive USD while accepting Bitcoin from customers.
Vendors have to pay bills, too. Eventually, even the vendors' vendors will accept bitcoin, and Coinbase won't be necessary. It'll be a while yet.
Wow, that's a dumb statement. Take a look at this chart http://bitcoincharts.com/charts/mtgoxUSD#rg150ztgSzm1g10zm2g25zv. See that little blip at the beginning of October? Yeah, that's your "panic."
Bitcoin was held down because of silk road, not supported.
It is an impossible question to answer because you deliberately rule out the examples of such.
That's shortsighted. No exemption is claimed for police or military...
I take it you are familiar with the philosophy of Terrance McKenna?
On the subject of soul, are you familiar with the calcification of the pineal gland related to low-level fluoride exposure?
There are a lot of very bitter people complaining that they never thought it would get this big.
You clearly have never used bitcoins to buy real goods. As someone who does use bitcoins to buy groceries and household goods, the volatility is nowhere near the problem you think it is.
Go ahead, keep missing out. Today's millibitcoins will be tomorrow's microbitcoins.
Your points are all good. I think bitcoins is too volatile, however, to denominated any long-term contracts. The deflation rate is high because velocity is low. Bitcoins gain in value hundreds of percent per year, and can lose 50% or more in moments.
I feel that something needs to be built on top of bitcoin. Perhaps a futures market, and we perform all transactions in futures contracts instead of the currency itself?
What do you think?
Look up sprouted bean recipes. The extended soak time allows you to shorten the cook time.
I do cook everything together when I am short on time, but you are right that yours probably come out better.
You get it.
Because income diminishes over time. Say you loan me 25 bc. Let us assume I earn 1 bitcoins per week, and that amount will buy 5 MacBook Pros. At the end of six months, that amount will buy 10 MacBook Pros, and I am earning only 0.5 btc per week.
Debt in a deflationary currency becomes harder to pay off over time.
You'd be stupid to admit to owning that much on a public forum. But then you admit to owning guns on a public forum so maybe some folks just don't care about getting doxxed.
Chargebacks and volatility seem not be a concern for the growing number of merchants and their customers who are adopting bitcoin.
You have clearly never used bitcoin. Volatility is not the problem you make it out to be. If you were speaking from experience instead of helpless raging impotence that you missed the biggest boat of a lifetime, you would know this.
Localbitcoins.com is a reasonable way to get started.