AnimeSuki Forums

Register Forum Rules FAQ Members List Social Groups Search Today's Posts Mark Forums Read

Go Back   AnimeSuki Forum > General > News & Politics

Notices

Reply
 
Thread Tools
Old 2013-11-21, 23:41   Link #61
speedyexpress48
Boo, you whore
 
 
Join Date: Jul 2011
Location: Smokin that CO bong
Send a message via AIM to speedyexpress48 Send a message via MSN to speedyexpress48 Send a message via Yahoo to speedyexpress48
Well, it does crash once in a while, but the value will always be higher than the value right after the last crash (for now anyways). Heck, it "crashed" down to $500...slightly less than double of the last peak value.
__________________

Your Friendly Bitcoin Trader|Go Avs/Broncos
speedyexpress48 is offline   Reply With Quote
Old 2013-11-22, 00:04   Link #62
AnimeFan188
Senior Member
 
Join Date: Jan 2008
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/
AnimeFan188 is offline   Reply With Quote
Old 2013-11-22, 00:13   Link #63
Vallen Chaos Valiant
Logician and Romantic
 
 
Join Date: Nov 2004
Location: Within my mind
Age: 37
Any decent currency should be able to be used to hire a Hitman. I mean, what good is a currency if it can't? I just find it bizarre that this is even news.
__________________
Vallen Chaos Valiant is offline   Reply With Quote
Old 2013-11-22, 01:26   Link #64
SaintessHeart
NYAAAAHAAANNNNN~
 
 
Join Date: Nov 2007
Age: 29
What is interesting is the name - it is the mysterious protagonist from Akira Kurosawa's Yojimbo.
__________________

When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don't save, then you're guaranteed to end up with nothing.
SaintessHeart is offline   Reply With Quote
Old 2013-11-23, 19:15   Link #65
AnimeFan188
Senior Member
 
Join Date: Jan 2008
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/
AnimeFan188 is offline   Reply With Quote
Old 2013-11-23, 22:18   Link #66
speedyexpress48
Boo, you whore
 
 
Join Date: Jul 2011
Location: Smokin that CO bong
Send a message via AIM to speedyexpress48 Send a message via MSN to speedyexpress48 Send a message via Yahoo to speedyexpress48
Quote:
Originally Posted by SaintessHeart View Post
What is interesting is the name - it is the mysterious protagonist from Akira Kurosawa's Yojimbo.
Not very surprising...a lot of BTC users I know are anime fans as well, and there were tons of drug listings on SR with various anime images on them.
__________________

Your Friendly Bitcoin Trader|Go Avs/Broncos
speedyexpress48 is offline   Reply With Quote
Old 2013-11-26, 11:16   Link #67
MrTerrorist
Takao Tsundere Cruiser
 
 
Join Date: Oct 2008
Location: Classified
Bitcoin Mining Is Getting Out of Control
__________________
MrTerrorist is offline   Reply With Quote
Old 2013-11-26, 11:37   Link #68
Domonkazu
Senior Member
 
 
Join Date: Mar 2012
Location: Deutschland
Age: 33
Quote:
Originally Posted by Byakou View Post
Remember bitcoins crash last july? Bitcoins became worth over 200$, then crashed to 60$ in one fell swoop. During the crash, the biggest bitcoin exchange marketplace decided to arbitrarily stop transactions. This tells you two things. It's a volatile currency, and for whatever reason they want, bitcoins exchange can decide to shut off and leave you with worthless currency if they feel like it. The currency is backed by nothing. That being said, real life currency isn't any better, something like the Cyprus bank could happen here too. Some people think gold is the perfect currency, in an ideal world it's not a bad idea. But if something really bad happened tomorrow, something apocalyptic, people wouldn't care about gold. People would want food, lighters, antibiotics, gas, etc, those are the only things that keep value no matter what.
gold is volatile as well, it was $1700/troy ounce last year, now only $1247
Domonkazu is offline   Reply With Quote
Old 2013-11-26, 11:40   Link #69
SaintessHeart
NYAAAAHAAANNNNN~
 
 
Join Date: Nov 2007
Age: 29
Quote:
Originally Posted by Domonkazu View Post
gold is volatile as well, it was $1700/troy ounce last year, now only $1247
On the larger side of economics not found in textbooks, gold is something like a "safe haven" for people to park their money when market confidence takes a hit, and currency is not there as well.

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.
__________________

When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don't save, then you're guaranteed to end up with nothing.
SaintessHeart is offline   Reply With Quote
Old 2013-11-26, 19:49   Link #70
AnimeFan188
Senior Member
 
Join Date: Jan 2008
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/
AnimeFan188 is offline   Reply With Quote
Old 2013-11-28, 01:02   Link #71
sa547
Senior Member
*Author
 
 
Join Date: Oct 2007
Location: Philippines
Age: 41
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/
__________________
sa547 is offline   Reply With Quote
Old 2013-11-28, 08:33   Link #72
Vallen Chaos Valiant
Logician and Romantic
 
 
Join Date: Nov 2004
Location: Within my mind
Age: 37
Quote:
Originally Posted by sa547 View Post
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/
If you obtain imperishable indestructible tulips that can be teleported near instantly for pennies, they would certainly be worth something. Especially if there can be only 21 million of them and no more after that.
__________________
Vallen Chaos Valiant is offline   Reply With Quote
Old 2013-11-28, 09:15   Link #73
Bri
Senior Member
 
 
Join Date: Jan 2009
Quote:
Originally Posted by monsta666 View Post
Ignoring the issues of infrastructure i.e. who controls the servers controls the money supply and other hacking issues the fundamental problem with bitcoin is its finite supply. If we assume a growing economy then a money supply that does not increase in sync results in the value of goods and services declining because more goods are chasing the same amount of money. This leads to a decline in prices and which is bad for profits, investments and eventually general spending as people will hoard money in the hopes of getting a better deal tomorrow.

I suppose you could fix this problem by adding new denominations to the bitcoin currency but then if you keep expanding the money supply you just get the same issues that come with other fiat currencies.

The important point to grasp is that people often think that price stability comes from a fixed money supply but really fixed prices come when the money supply matches the size of the economy relatively speaking. If money supply grows faster than the economy you get inflation and if the economy grows greater than money supply you get deflation.
Perfect explanation of the inherent flaws of Bitcoin as a currency.
Bri is offline   Reply With Quote
Old 2013-11-28, 09:25   Link #74
Vallen Chaos Valiant
Logician and Romantic
 
 
Join Date: Nov 2004
Location: Within my mind
Age: 37
Quote:
Originally Posted by Bri View Post
Perfect explanation of the inherent flaws of Bitcoin as a currency.
Quote:
I suppose you could fix this problem by adding new denominations to the bitcoin currency but then if you keep expanding the money supply you just get the same issues that come with other fiat currencies.
What?

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.
__________________
Vallen Chaos Valiant is offline   Reply With Quote
Old 2013-11-28, 09:34   Link #75
SaintessHeart
NYAAAAHAAANNNNN~
 
 
Join Date: Nov 2007
Age: 29
Quote:
Originally Posted by Vallen Chaos Valiant View Post
What?

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.
If you are talking about gold, thn gold dust would be cheaperthn gold bars because the storage cost may be lower, you can store more gold dust in a room than a gold block due to properties of solids.

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.
__________________

When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don't save, then you're guaranteed to end up with nothing.
SaintessHeart is offline   Reply With Quote
Old 2013-11-28, 10:05   Link #76
Fireminer
Lumine Passio
*Author
 
 
Join Date: Jul 2013
Location: Hanoi, Vietnam
Age: 12
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.
Fireminer is online now   Reply With Quote
Old 2013-11-28, 10:10   Link #77
SaintessHeart
NYAAAAHAAANNNNN~
 
 
Join Date: Nov 2007
Age: 29
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.

Quote:
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.
Production Possibility Frontier.

Quote:
Originally Posted by Fireminer View Post
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?
Quote:
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.
Currency trading, bond investment, and why people do it.
__________________

When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don't save, then you're guaranteed to end up with nothing.
SaintessHeart is offline   Reply With Quote
Old 2013-11-28, 13:06   Link #78
Bri
Senior Member
 
 
Join Date: Jan 2009
Quote:
Originally Posted by Vallen Chaos Valiant View Post
What?
The fact that this simple logic is broken by monsta666 , means that I am disregarding EVERYTHING else he is saying.
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.
Bri is offline   Reply With Quote
Old 2013-11-28, 13:13   Link #79
Vallen Chaos Valiant
Logician and Romantic
 
 
Join Date: Nov 2004
Location: Within my mind
Age: 37
Quote:
Originally Posted by Bri View Post
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.
I fail to see his claim that cutting up bitcoins into smaller units would be inflationary, to be a sign of him knowing what is or isn't deflationary.

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.
__________________
Vallen Chaos Valiant is offline   Reply With Quote
Old 2013-11-28, 14:05   Link #80
Bri
Senior Member
 
 
Join Date: Jan 2009
Quote:
Originally Posted by Vallen Chaos Valiant View Post
I fail to see his claim that cutting up bitcoins into smaller units would be inflationary, to be a sign of him knowing what is or isn't deflationary.

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.
For understanding the analysis it helps if you ignore the "I suppose.... line" which seems to have drawn your attention. I assume he intended it as a (bit too) simplified version of fractional reserve banking which allows money creation but undermines the essence of bitcoin.

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.
Bri is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 08:43.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2018, vBulletin Solutions Inc.
We use Silk.