You only have to pay taxes on government-backed currency that you earn. If you have no government-backed currency, no taxable income, you don't have to pay taxes.
Besides, Bitcoin does have inherent value: the ability to conduct secure transactions across the world.
The problem is that if Bitcoin takes off, banks will still treat it like regular currency. Once you make a deposit, the bank will add it to a pool, and withdrawals will come from that pool. Your account holdings will still be a decimal formatted number in a database somewhere.
Not with Bitcoin. Sure, they could use a pool, but that wouldn't do them any good.
This is a world where we have finally become rich enough to be able to do these things. Still silly, from the perspective of us who do not care for the frivolous things, but since the majority of the population do care for them, we should not be surprised.
Slashdot Mirror
Get your spelling right. It's "Luleå", not "Lulea".
The first one is pronounced like "lu-leh-oh", the second would be "lu-leh-ah".
+1 Insightful. Pew is chaired by Madeleine Albright, for crying out loud.
The robot "Chitti" in the 2010 Indian blockbuster movie Enthiran was originally intended for army service.
"Intelligence agencies" are spies, per definition. So... they should fear themselves, and each other.
It's impossible to own information. Read the law sometime.
You only have to pay taxes on government-backed currency that you earn. If you have no government-backed currency, no taxable income, you don't have to pay taxes. Besides, Bitcoin does have inherent value: the ability to conduct secure transactions across the world.
We are doing that. This is just a recommendation of what the big companies should decide.
"cash hoard", not "horde".
This new method is apparently known as the BEER effect. One wonders what Albert would have felt about that. :)
And if we need more division, we can always update the client software.
The problem is that if Bitcoin takes off, banks will still treat it like regular currency. Once you make a deposit, the bank will add it to a pool, and withdrawals will come from that pool. Your account holdings will still be a decimal formatted number in a database somewhere.
Not with Bitcoin. Sure, they could use a pool, but that wouldn't do them any good.
The reason for the pool is called Fractional reserve banking, and that's impossible to do with Bitcoin.
So as long as the hub is secure, then the network should also be secure.
This destroys the protection from wiretapping that quantum crypto promised.
I started with GWBASIC on DOS 3 at about that age. A couple of books with example programs in my native tongue and I was set.
This is a world where we have finally become rich enough to be able to do these things. Still silly, from the perspective of us who do not care for the frivolous things, but since the majority of the population do care for them, we should not be surprised.
You know, the Wonderbolts would be a lot cheaper to operate...
It was first uploaded yesterday, 2013-04-09 20:12:34 GMT.
+1 Informative
Not without a declaration of war.
Oh, let them have their fun. Then, when they're done, we can break the DRM in 2 days and have our fun! :)
For the last 5 years, I've had 100 Mbps up & down for 275 SEK/mon. (current eq. 43 USD)
Your physical molecules, perhaps. But the information they encode cannot be "owned" at all. Get your vocabulary right.
Last time I heard, Iceland was the new haven for free speech online. What happened?
http://www.youtube.com/watch?v=KThlYHfIVa8
They understand. They do not comprehend.
http://m.washingtonpost.com/national/on-leadership/the-five-worst-ceos-of-2012/2012/12/18/0f353f14-4940-11e2-ad54-580638ede391_story.html