The point is that you have to wait for the machine to "make" the money and then you have to convert it into local currency. All the while you are carrying the risk of a value collapse in BitCoin, an exchange collapse, theft, etc.
vs. the direct approach of selling for your local currency and spending it now.
Additionally if you are invested in chip production, you likely have state obligations like taxes that become a nightmare to account for when introducing a non-state currency into your transactions. Net profit is probably higher if you just get paid in local currency.
If they could, they would be government. The only organization with the power to imprison you for not spending your money on their "services" is government. No other group of people has this power.
I don't take services from the government. In a case where I may incidentally have a service provided by government it is because they have outlawed competition and/or force me to use the "service." Non-government companies enter into voluntary transactions with their customers. If I voluntarily choose to transact, of course I should pay. There's a fundamental difference.
Yes, no government at all.
How about you point to a government anywhere in the world that doesn't operated based on a first principle of stealing from the inhabitants of a given geography.
Except that the money to pay for those public "servants" is first taken under the threat of violence and imprisonment from people.
My company doesn't send people to jail for not spending their money with us.
Each coin is divisible to 8 decimal places. There's 21 trillion coins if you leave the last two decimal places for "cents" function.
If we don't have "cents" there are 2.1 quadrillion units.
Slashdot Mirror
The point is that you have to wait for the machine to "make" the money and then you have to convert it into local currency. All the while you are carrying the risk of a value collapse in BitCoin, an exchange collapse, theft, etc. vs. the direct approach of selling for your local currency and spending it now. Additionally if you are invested in chip production, you likely have state obligations like taxes that become a nightmare to account for when introducing a non-state currency into your transactions. Net profit is probably higher if you just get paid in local currency.
This needs to be a principled move because shareholders are going to complain greatly about any margin erosion for the sake of patriotism.
see: http://en.wikipedia.org/wiki/Time_value_of_money
http://www.deadline.com/2012/12/what-hell-hath-disney-lucasfilm-wrought-star-wars-meets-extreme-home-makeover/
and anyone still in Second Life.
What a let down.
on Mars. Slashdot is trying to compete with The Onion it seems.
The Government. :)
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If they could, they would be government. The only organization with the power to imprison you for not spending your money on their "services" is government. No other group of people has this power.
Somalia is not libertarian or anarchistic. It is recovering from a civil war brought on by 30 years of dictatorship.
I don't take services from the government. In a case where I may incidentally have a service provided by government it is because they have outlawed competition and/or force me to use the "service." Non-government companies enter into voluntary transactions with their customers. If I voluntarily choose to transact, of course I should pay. There's a fundamental difference.
Yes, no government at all. How about you point to a government anywhere in the world that doesn't operated based on a first principle of stealing from the inhabitants of a given geography.
Except that the money to pay for those public "servants" is first taken under the threat of violence and imprisonment from people. My company doesn't send people to jail for not spending their money with us.
I'm betting your company doesn't send people to jail for not spending their money there.
No. I'll use my own money. Oh wait. He'll use my money too.
If you read Slashdot, you are too old.
How about we go back to the "we don't need to police the world" paradigm.
You have no idea how true that is.
He'll have a printer botnet running in no time!
Get rid of them now. I suggest you send any bitcoins you have to this wallet address: 1AeCTNhF3Sovi8fkjq7Buy8sYoc2C4xoo4
Wordpress.com hosting isn't a real transaction?
If you lose them they are out of circulation. It is likely we will never have 21 million BTC in circulation due to loss.
It's validating transactions in the block.
Each coin is divisible to 8 decimal places. There's 21 trillion coins if you leave the last two decimal places for "cents" function. If we don't have "cents" there are 2.1 quadrillion units.