I guess you've never looked at a chart of BTC prices. Take a look at the volume, the transactions and tell me if you think it makes sense to wait until it goes back down to $200.00
Will BTC go back to the $600s perhaps. Two hundred. I don't think so.
It's not as simple as that. People buy Renminbi, Yen, Euros, British Pounds.
A currency goes up when people have confidence in it as a store of value and go down when they don't. Is it more complicated than that? Yes. But currencies do not go up when people lose confidence in it's stability.
I think we're going to arrive at fossil fuel independence sooner rather than later. The graphs point to us being able to supply our needs via solar, geothermal, wind, in a generation or so. We need fossil fuel only for this short period of time.
I'm more concerned about the particulate pollution and the bi-product of combustion much more than CO2.
Interesting. Especially the part of an active court that focuses upon the existing constitution - and has the authority to negate laws.
I don't know anything about South Africa (except the obvious) do you have any sources - online magazines, websites that would be a good start to see how things are accomplished and the problems being faced (and overcome)?
Second of all it is relevant because the hysterical chicken littles out there are talking about the survival of our species. Meanwhile these frauds compare the daily rise in temperature over the last 100 years. That's like comparing a stock chart displaying minute by minute price changes with one that displays yearly ticks.
Is human activity causing harm. Of course. But saying that a rise of CO2 levels, even a doubling of CO2 levels will cause an extinction level event. That, my friend, is brainless hysteria.
How do I know - because mammals survived just wonderfully with CO2 levels. Our species will as well, so will other vertebrate and invertebrate life. And, of course, so will plants.
I want solar and wind - not for CO2 levels but for pollution levels.
Don't forget that CO2 levels 80 million years were not only good news for reptiles they were fine for mammals as well. Protomammals developed 120mya and mammals 80mya.
Cretaceous CO2 levels were just fine for mammalian life. In fact in the Paleogene, 10 mya, after the end of the cretaceous period CO2 levels were even higher.
Moral of the story? High CO2 levels are just fine for life on earth.
Let's focus our efforts on dioxins, PCBs and other toxic bi-products of industrial activities.
No. today it's quite unlikely that one would pay a plumber in BTC. I couldn't get mine to set up an account to do a quick pay.
Today, 2016, you're 100% correct.
But what about tomorrow? 2018:-)
When one can easily send transactions from a phone? When Google Pay and other services are considered normal?
Now if banks drop their transfer costs to zero; and if it's easy to send payments then BTC most likely will not be used for these transactions.
BTC is considered (by some) to be spendable gold. You place it there when you have little trust in fiat. (See Venezuela) Now you can transfer funds from one person to another, by-passing fiat, by-passing banks. India is another place with a great potential for BTC. They have a cash culture and BTC is a good alternative. It's safer to carry, easier to transport (your phone), easier to transfer funds.
Now you made the transfer via BTC way harder than it is. You scan a QR (if next to each other or text over your receive address and then enter the amount and press send.
Some clear-cut reasons: say weed is legal but you don't want it showing up on your MasterCard. You're buying a personal toy that comes in brown-paper wrapping but you don't want it on your credit card.
For others, like me, it is a "political" thing. It's privacy from the data collection done by banks, google, facebook, etc...
Privacy is privacy. Do your friends and parents know what you make and all your expenses? Do you share your favorite se*ual positions with everyone? We have the phrase TMI for a reason.
BTC has a lot of value aside from privacy but that is an important concern.
The value of BTC is
- the ease of sending money (as with email over snail mail).
- reasonable anonymity.
Why do people imagine that BTC has any sort of anonymity? Your IP address (with timestamp) is about as anonymous as your physical address to the government, and that's permanently recorded in the blockchain. I guess you could be anonymous to the other party, but how often is that useful?
In my next line I wrote:
However anybody that thinks they can evade the IRS or NSA using Bitcoin is either a fool or has a VERY sophisticated team of people running said transactions.
So, no I don't think that BTC is anonymous. But one is pseudo-anonymous. Nonetheless, as a point of reference, the blockchain does not record IP address.
However you must assume that the NSA, the FBI or IRS will be able to associate your IP address to your bitcoin transactions unless you use anonymizing technologies like Tor. But you better be fuc7ing good at it. In other words you would need to be a very sophisticated user to maintain anonymity.
It will take on average 10 minutes to post and an hour to verify.
Is this an issue? It depends on the purchase.
I personally feel that BTC will become more of a clearinghouse (end of day transmission of funds) and other coins with faster block times will be used for other transactions. The "cup-of-coffee" transaction is less important than the blockchain: where you have a cryptographically secure proof of identity and transmission. (Wallet A sent this fund to Wallet B - identity in this case is the identity of the wallet not the individual).
BTC is perfect if I want to send money to another person. Say I want to pay my plumber or handyman, someone I have a relationship with. How can I pay?
I can pay in cash. (That can be a hassle to take out $1500 from the bank.)
I can pay by check. Except I don't have physical checks anymore.
I can pay by CC but that requires my handyman to accept CC and willing to accept the service charge.
I can do a quick-pay transfer but (as I found out) it can be a real pain in the a$$ to set up, especially with different banks.
With BTC. I can send cash effortlessly with close to zero transaction fee. Yes. It will take 10+ minutes to post. OK.
BTC is not a cure all. It can't do everything better than everything else - but it's useful.
Ok. Let's take the example of the small vendor selling homemade quilts.
What's the difference between a customer paying in cash and paying in BTC?
If customer pays cash
vendor gives customer receipt
vendor deposits cash in business account (ideally, in order to avoid commingling issues)
vendor records transaction in ledger (paper, excel, quickbooks, whatever)
vendor declares income in quarterly sales tax forms and yearly income forms that "x" cash was received.
If customer pays w BTC
all the above is the same plus there are date/time stamped records in your wallet.
Comparing transfer to transfer BTC is considerably cheaper than credit cards. It's far less than 1%. I can send you BTC at little to no cost to either of us. Paypal is much more expensive
The downside of using BTC is that, like cash, you can lose your money.
.
The value of BTC is
- the ease of sending money (as with email over snail mail).
- reasonable anonymity.
However anybody that thinks they can evade the IRS or NSA using Bitcoin is either a fool or has a VERY sophisticated team of people running said transactions.
Re the tax rate that's something else completely. Tax compliance is tax compliance. If it's something necessary to do then you will need to be using a software to keep track of your purchases in the various tax jurisdictions. I don't see how this is much different than using fiat.
And yet Trump just included a big BTC proponent into his cabinet:Mick Mulvaney, a Republican congressman and a long-time bitcoin supporter was picked to run the Office of Management and Budget.
This seems to run against your position. Although you're correct. Governments can certainly kill bitcoin by making ownership and transmission of BTC a crime under penalty of death
I buy and sell BTC, dogecoin, cure, tek and other coins. Transactions go through in seconds. It's not much different than selling an equity on Ameritrade.
Many coins have enough transactions that the time involved in buying and selling is minimal. Now, if you mine, or purchase experimental coins then you're gambling. With BTC. Hell no. Put a buy or sell order at market and it's fulfilled immediately.
One use of BTC is to transfer money. BTC is to sending money what email is to sending snail mail.
Is it also an alternative currency? yes. for some.
Is it also an alternative to fiat? yes. for some.
But one of it's main purposes is to send money quickly, easily and with low overhead from one person to another. Something that credit cards do not do. It's expensive to receive a credit card transaction. It's a bare minimum of $20.00/mth plus transaction fees of $0.25 + a percentage (1.5% - 3.5% depending on the card).
I think you're reading far more into it than there is. You're focusing on the trash talk and missing the point.
The point that outrages people is that we don't know who is in the country.
We don't know why they came here.
And too many people assume that all immigrants here want to coexist in a multicultural society with free speech.
So people are Nazis for wanting to restrict immigration from Syria?
Don't you think it makes sense to restrict immigration to people who want to participate in your culture? Why bring people over who have nothing but contempt for your culture; who don't accept the basic tenants of the culture (free speech and pluralism)?
I'm pro-immigration and I see the fu(king problem.
You think the killings in Germany was just a random act of violence? WTF?
And, you don't think that an AI sniffer would know that I'm an atheist even though I go to religious sites?
Any reasonably good analysis of our data would know where we fit in as per our religious and political affinities. I read the Final Call but I'm pretty certain that any analysis of my reading patterns would not conclude that I am a member of the Nation of Islam.
Read through the lines: Don't take things at face value.
Sh!7. all you donald trump haters who are going off the deep end. I'm a #NeverTrump and I know that he's trolling. WTF is the matter with you to think that he's talking about a final solution? Stop believing the hype.
Or do. It makes my job as a libertarian easier to point out how foolish the left is; and it helps me to convert republicans to wanting smaller, more constitutionally limited government.
Slashdot Mirror
I guess you've never looked at a chart of BTC prices. Take a look at the volume, the transactions and tell me if you think it makes sense to wait until it goes back down to $200.00
Will BTC go back to the $600s perhaps. Two hundred. I don't think so.
It's not as simple as that. People buy Renminbi, Yen, Euros, British Pounds.
A currency goes up when people have confidence in it as a store of value and go down when they don't. Is it more complicated than that? Yes. But currencies do not go up when people lose confidence in it's stability.
Why be into privacy? Why be concerned about NSA spying? Why be concerned if google knows everything you search for?
/sarc
I mean, unless you're interested in drugs or guns, why should you possibly care about privacy?
That doesn't make any sense. Nobody would buy US dollars if they thought things would go to sh!t.
How many Venezuelan bolívars do you own? If you were an investment adviser would you recommend investing in Venezuela?
thx for your time. Just came back from vacation.
Happy New Year.
Oceans rise and fall.
Coastlines ebb and flow
People build homes and cities in deltas and then wonder why nature works against them? Hello? They should look up the definition of a delta.
Even if there were no people, and no industrial activity, the oceans would rise and fall and the coastlines would ebb and flow.
Very interesting argument.
I think we're going to arrive at fossil fuel independence sooner rather than later. The graphs point to us being able to supply our needs via solar, geothermal, wind, in a generation or so. We need fossil fuel only for this short period of time.
I'm more concerned about the particulate pollution and the bi-product of combustion much more than CO2.
Interesting. Especially the part of an active court that focuses upon the existing constitution - and has the authority to negate laws.
I don't know anything about South Africa (except the obvious) do you have any sources - online magazines, websites that would be a good start to see how things are accomplished and the problems being faced (and overcome)?
First of all I didn't adopt it.
Second of all it is relevant because the hysterical chicken littles out there are talking about the survival of our species. Meanwhile these frauds compare the daily rise in temperature over the last 100 years. That's like comparing a stock chart displaying minute by minute price changes with one that displays yearly ticks.
Is human activity causing harm. Of course. But saying that a rise of CO2 levels, even a doubling of CO2 levels will cause an extinction level event. That, my friend, is brainless hysteria.
How do I know - because mammals survived just wonderfully with CO2 levels. Our species will as well, so will other vertebrate and invertebrate life. And, of course, so will plants.
I want solar and wind - not for CO2 levels but for pollution levels.
Don't forget that CO2 levels 80 million years were not only good news for reptiles they were fine for mammals as well. Protomammals developed 120mya and mammals 80mya.
Cretaceous CO2 levels were just fine for mammalian life. In fact in the Paleogene, 10 mya, after the end of the cretaceous period CO2 levels were even higher.
Moral of the story? High CO2 levels are just fine for life on earth.
Let's focus our efforts on dioxins, PCBs and other toxic bi-products of industrial activities.
which country are you in?
No. today it's quite unlikely that one would pay a plumber in BTC. I couldn't get mine to set up an account to do a quick pay.
:-)
Today, 2016, you're 100% correct.
But what about tomorrow? 2018
When one can easily send transactions from a phone? When Google Pay and other services are considered normal?
Now if banks drop their transfer costs to zero; and if it's easy to send payments then BTC most likely will not be used for these transactions.
BTC is considered (by some) to be spendable gold. You place it there when you have little trust in fiat. (See Venezuela) Now you can transfer funds from one person to another, by-passing fiat, by-passing banks. India is another place with a great potential for BTC. They have a cash culture and BTC is a good alternative. It's safer to carry, easier to transport (your phone), easier to transfer funds.
Now you made the transfer via BTC way harder than it is. You scan a QR (if next to each other or text over your receive address and then enter the amount and press send.
Privacy is privacy.
Some clear-cut reasons: say weed is legal but you don't want it showing up on your MasterCard. You're buying a personal toy that comes in brown-paper wrapping but you don't want it on your credit card.
For others, like me, it is a "political" thing. It's privacy from the data collection done by banks, google, facebook, etc...
Privacy is privacy. Do your friends and parents know what you make and all your expenses? Do you share your favorite se*ual positions with everyone? We have the phrase TMI for a reason. BTC has a lot of value aside from privacy but that is an important concern.
The value of BTC is - the ease of sending money (as with email over snail mail). - reasonable anonymity.
Why do people imagine that BTC has any sort of anonymity? Your IP address (with timestamp) is about as anonymous as your physical address to the government, and that's permanently recorded in the blockchain. I guess you could be anonymous to the other party, but how often is that useful?
In my next line I wrote: However anybody that thinks they can evade the IRS or NSA using Bitcoin is either a fool or has a VERY sophisticated team of people running said transactions. So, no I don't think that BTC is anonymous. But one is pseudo-anonymous. Nonetheless, as a point of reference, the blockchain does not record IP address.
However you must assume that the NSA, the FBI or IRS will be able to associate your IP address to your bitcoin transactions unless you use anonymizing technologies like Tor. But you better be fuc7ing good at it. In other words you would need to be a very sophisticated user to maintain anonymity.
Oh. Very. very true.
It will take on average 10 minutes to post and an hour to verify.
Is this an issue? It depends on the purchase.
I personally feel that BTC will become more of a clearinghouse (end of day transmission of funds) and other coins with faster block times will be used for other transactions. The "cup-of-coffee" transaction is less important than the blockchain: where you have a cryptographically secure proof of identity and transmission. (Wallet A sent this fund to Wallet B - identity in this case is the identity of the wallet not the individual).
BTC is perfect if I want to send money to another person. Say I want to pay my plumber or handyman, someone I have a relationship with. How can I pay?
I can pay in cash. (That can be a hassle to take out $1500 from the bank.)
I can pay by check. Except I don't have physical checks anymore.
I can pay by CC but that requires my handyman to accept CC and willing to accept the service charge.
I can do a quick-pay transfer but (as I found out) it can be a real pain in the a$$ to set up, especially with different banks.
With BTC. I can send cash effortlessly with close to zero transaction fee. Yes. It will take 10+ minutes to post. OK.
BTC is not a cure all. It can't do everything better than everything else - but it's useful.
Ok. Let's take the example of the small vendor selling homemade quilts.
What's the difference between a customer paying in cash and paying in BTC?
If customer pays cash
vendor gives customer receipt
vendor deposits cash in business account (ideally, in order to avoid commingling issues)
vendor records transaction in ledger (paper, excel, quickbooks, whatever)
vendor declares income in quarterly sales tax forms and yearly income forms that "x" cash was received.
If customer pays w BTC
all the above is the same plus there are date/time stamped records in your wallet.
Comparing transfer to transfer BTC is considerably cheaper than credit cards. It's far less than 1%. I can send you BTC at little to no cost to either of us. Paypal is much more expensive
The downside of using BTC is that, like cash, you can lose your money. .
The value of BTC is
- the ease of sending money (as with email over snail mail).
- reasonable anonymity.
However anybody that thinks they can evade the IRS or NSA using Bitcoin is either a fool or has a VERY sophisticated team of people running said transactions.
Re the tax rate that's something else completely. Tax compliance is tax compliance. If it's something necessary to do then you will need to be using a software to keep track of your purchases in the various tax jurisdictions. I don't see how this is much different than using fiat.
Hmm.
And yet Trump just included a big BTC proponent into his cabinet:Mick Mulvaney, a Republican congressman and a long-time bitcoin supporter was picked to run the Office of Management and Budget.
This seems to run against your position. Although you're correct. Governments can certainly kill bitcoin by making ownership and transmission of BTC a crime under penalty of death
I buy and sell BTC, dogecoin, cure, tek and other coins. Transactions go through in seconds. It's not much different than selling an equity on Ameritrade.
Many coins have enough transactions that the time involved in buying and selling is minimal. Now, if you mine, or purchase experimental coins then you're gambling. With BTC. Hell no. Put a buy or sell order at market and it's fulfilled immediately.
One use of BTC is to transfer money. BTC is to sending money what email is to sending snail mail.
/mth plus transaction fees of $0.25 + a percentage (1.5% - 3.5% depending on the card).
Is it also an alternative currency? yes. for some.
Is it also an alternative to fiat? yes. for some.
But one of it's main purposes is to send money quickly, easily and with low overhead from one person to another. Something that credit cards do not do. It's expensive to receive a credit card transaction. It's a bare minimum of $20.00
The transfer costs for BTC are far less than 1%.
Pearl Harbor?
I hope you're equally outraged when it's on the other foot.
I think you're reading far more into it than there is. You're focusing on the trash talk and missing the point. The point that outrages people is that we don't know who is in the country.
We don't know why they came here.
And too many people assume that all immigrants here want to coexist in a multicultural society with free speech.
Oops. Some don't.
Now what?
So people are Nazis for wanting to restrict immigration from Syria?
Don't you think it makes sense to restrict immigration to people who want to participate in your culture? Why bring people over who have nothing but contempt for your culture; who don't accept the basic tenants of the culture (free speech and pluralism)?
I'm pro-immigration and I see the fu(king problem.
You think the killings in Germany was just a random act of violence? WTF?
And, you don't think that an AI sniffer would know that I'm an atheist even though I go to religious sites?
Any reasonably good analysis of our data would know where we fit in as per our religious and political affinities. I read the Final Call but I'm pretty certain that any analysis of my reading patterns would not conclude that I am a member of the Nation of Islam.
Read through the lines: Don't take things at face value.
Sh!7. all you donald trump haters who are going off the deep end. I'm a #NeverTrump and I know that he's trolling. WTF is the matter with you to think that he's talking about a final solution? Stop believing the hype.
Or do. It makes my job as a libertarian easier to point out how foolish the left is; and it helps me to convert republicans to wanting smaller, more constitutionally limited government.