2013-11-22, 00:04 | Link #62 |
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Join Date: Jan 2008
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Meet The 'Assassination Market' Creator Who's Crowdfunding Murder With Bitcoins:
"As Bitcoin becomes an increasingly popular form of digital cash, the cryptocurrency is being accepted in exchange for everything from socks to sushi to heroin. If one anarchist has his way, it’ll soon be used to buy murder, too. Last month I received an encrypted email from someone calling himself by the pseudonym Kuwabatake Sanjuro, who pointed me towards his recent creation: The website Assassination Market, a crowdfunding service that lets anyone anonymously contribute bitcoins towards a bounty on the head of any government official–a kind of Kickstarter for political assassinations. According to Assassination Market’s rules, if someone on its hit list is killed–and yes, Sanjuro hopes that many targets will be–any hitman who can prove he or she was responsible receives the collected funds." See: http://www.forbes.com/sites/andygree...with-bitcoins/ |
2013-11-23, 19:15 | Link #65 |
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Join Date: Jan 2008
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Stewardess first to book $250k Virgin Galactic 'space trip' with BITCOINS:
"Brit entrepreneur Richard Branson's space-faring venture Virgin Galactic will now accept Bitcoins." "The first customer to have paid in Bitcoins is a stewardess in Hawaii "who made quite a lot of money by getting into Bitcoin early on," Branson said." See: http://www.theregister.co.uk/2013/11...takes_bitcoin/ |
2013-11-26, 11:37 | Link #68 | |
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2013-11-26, 11:40 | Link #69 | |
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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In this case, money was shifting back into equities as US trumpets their "recovery" (I call it the beginning of a tank or correction). Everybody sells their shiny stuff and takes up shares in companies in hope of earning their profits.
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2013-11-26, 19:49 | Link #70 |
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Join Date: Jan 2008
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Bitcoin’s skyrocketing value ushers in era of $1 million hacker heists:
"A company billing itself as one of Europe's biggest Bitcoin exchanges said it suffered a coordinated attack that succeeded in stealing almost $1 million worth of the digital currency, marking the latest in a string of high-stakes heists hitting companies that hold large sums online. Kris Henriksen, CEO of Denmark-based Bitcoin Internet Payment Services (BIPS), made that claim last week in a Web post that said the attack began as a distributed denial-of-service (DDoS) attack. Two days later, Henriksen said, the same attackers targeted the BIPS network again and managed to use the damage they previously inflicted to somehow tamper with the channel that connects BIPS data storage systems to company servers." See: http://arstechnica.com/security/2013...hacker-heists/ |
2013-11-28, 01:02 | Link #71 |
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Join Date: Oct 2007
Location: Philippines
Age: 47
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With this making me shake my head, I remember the tulip craze that once swept the Netherlands:
http://arstechnica.com/information-t...h-7-5-million/
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2013-11-28, 08:33 | Link #72 | |
Logician and Romantic
Join Date: Nov 2004
Location: Within my mind
Age: 43
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2013-11-28, 09:15 | Link #73 | |
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2013-11-28, 09:25 | Link #74 | |
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Join Date: Nov 2004
Location: Within my mind
Age: 43
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How is adding new denominations the same thing as expanding the money supply? By that same argument, you can then expand gold supply by selling them in gold dust form. Do we get more gold if we start trading in gold atoms? The argument against expanding money supply by printing, is that you decrease the worth of those who own the currency but didn't get the new supply. Smaller denominations doesn't hurt anyone because everyone's money stays the same in proportion to everyone else. The fact that this simple logic is broken by monsta666 , means that I am disregarding EVERYTHING else he is saying.
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2013-11-28, 09:34 | Link #75 | |
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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Jokes aside, you are right. Adding denominations doesn't increase money supply because elctronic currencies have values shown on a counter, not a mix-match of coins and notes.
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2013-11-28, 10:05 | Link #76 |
Lumine Passio
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Join Date: Jul 2013
Location: Hanoi, Vietnam
Age: 18
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But even if you add smaller denotation, for example, what would happen with millions of Dollar transfering around Earth? Or a Trillion Dollar Trade? Would it be better if you've a room full of gold dusk instead of gold bars?
What is missing here, is an absolute pegging. For example, you need 3 hours to make a pant, another need the same time and effort to make a shirt. Then it would be equal for you two to trade. Then you've got Money, which would be pegged with something truly valueable like Gold. And BitCoins, an unmaterial currentcy which running around this world, chasing high interest wherever it goes. |
2013-11-28, 10:10 | Link #77 | |||
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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I would like to answer your questions here, but I think you need to elaborate on the ideas. I added the topics you might want to bring in as examples to each part.
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2013-11-28, 13:06 | Link #78 |
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Join Date: Jan 2009
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Unwise, because he is spot on in his analysis of the weakness. Bitcoin is inherently deflationary due to it's size limits. It's even more useless than gold as a currency for a growing economy in that respect. Currently it's mostly a speculation/hedge opportunity.
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2013-11-28, 13:13 | Link #79 | |
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Join Date: Nov 2004
Location: Within my mind
Age: 43
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By his argument, we can solve the deflation by fusing bitcoins into larger units. If you are okay with what he said, then he just proved that we can magically solve the deflation by moving decimal points around.
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2013-11-28, 14:05 | Link #80 | |
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Join Date: Jan 2009
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The basic issue: if a currency cannot expand in volume, but the number of goods and services traded will, prices will have to decrease by definition. The currency appreciates as you can buy more and more goods with the same nominal amount over time. People who posses the currency will have an incentive to hoard it rather than spend it, which reduces the money in circulation and strengthens this effect. Aka we have a deflation problem. |
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