Bitcoin - Printable Version
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RE: Bitcoin - NonEntity - 12-29-2011 11:58 AM
RE: Bitcoin - Marc Stevens - 05-10-2012 05:33 PM
This was a good article about bit coin:
Bitcoin Funded Debit Cards
Yes, it’s entirely possible to fund your existing debit card, or credit card, with your accumulated bitcoin. And I don’t mean that you are shipped a generic, low-limit prepaid VISA or Mastercard from some anonymous reseller. I mean that you convert bitcoin online to dollars or euros and the funds are available to spend with a card that you are most likely already holding in your wallet.
Why is this so significant? It’s important because it leverages a little-known type of transaction that is available on the VisaNet system called ‘Original Credit Transaction’. The other major card payment networks have a similar feature too. These transactions act like a refund or credit transaction when you return an item to a store except that they don’t have to be associated with an original purchase. Essentially, they enable your card to be a two-way payment device. Surprisingly, not many financial institutions have taken advantage of this feature yet but I expect that to change.
rest of article: http://www.forbes.com/sites/jonmatonis/2012/05/07/bitcoin-funded-debit-cards/
Bitcoin [bump] - eye2i2hear - 06-21-2012 02:21 PM
I was reading a post on LessWrong.com regarding interest there in Bitcoin and thought this guy's post in the Comments contained some nuggets [sic] worth sharing:
forum poster sixes_and_sevens Wrote:Less Wrong used to like Bitcoin before it was cool. Time for a revisit? - Less Wrong Discussion
(the whole discussion there is a recommend btw)
Another trail (here) picked up from the above has some interesting points discussed down through it, including this:
forum poster tokenadult Wrote:Perhaps the greatest contribution the Bitcoin experiment will make to humankind is to teach you and me and our neighbors more about the realities of economics. Many of the ideas about how to mine Bitcoins, store Bitcoins, and trade with Bitcoins as a medium of exchange illustrate both the strengths and weaknesses of any other medium of exchange in a world full of human beings. Seeing the discussion of Bitcoins here on Hacker News reminds me of the last time that the price of gold (in United States dollars) crashed, and the arguments beforehand that such an occurrence was impossible, for instance. "The market can remain irrational longer than you can remain solvent" is still an important principle of investment.https://news.ycombinator.com/item?id=4120271
RE: Bitcoin - bucky - 08-27-2012 10:35 PM
I printed something of interest off the internet back in around 2007. I didn't get the author of it but here is an excerpt:
Some freedom-enhancing "social glue" can be recaptured only after government is thoroughly out of our way. But there are some systems we -- that is, the very best and brightest among us -- can develop, or begin to develop, now.
With a lot of help from a friend who must remain anonymous for the moment, I'm thinking things like this:
Anonymous digital payment methods (technically possible, but derailed)
Cyberspace marketplaces (already well on their way)
Digital ID for use online without destruction of privacy
Non-governmental mediation and arbitration services
The great virtues of these systems are: 1) They don't require their users to be full-flown libertarians before getting involved; 2) They make it hard, unnecessary, or undesirable for government to insert itself; and 3) They reinforce and perpetuate, and therefore make sustainable, freedom-enhancing personal choices. (Not to mention they can potentially make some entrepreneur very successful.)
RE: Bitcoin - Marc Stevens - 09-26-2012 04:58 PM
I think we all missed this Bitcoin conference.
RE: Bitcoin - Wolf - 01-28-2013 06:28 AM
With Bitcoin, over half of all BTC that will ever exist already exist. While some see that as a problem (easily manipulated market), I see that as making it more available to everyone. If, for example, only gold coins are allowed to be money, then economy would suffer as fewer and fewer people could get them. In BTC, if it is hoarded then using it becomes less and less available as fewer and fewer markets would accept BTC as payment. With a fiat currency, there needs to be a lot of it floating around or otherwise it's not money.
RE: Bitcoin - NonEntity - 01-28-2013 08:29 AM
(01-28-2013 06:28 AM)Wolf Wrote: In BTC, if it is hoarded then using it becomes less and less available as fewer and fewer markets would accept BTC as payment. With a fiat currency, there needs to be a lot of it floating around or otherwise it's not money.
So let's see. If everyone hoards Bitcoins then there won't be any in use so they'll have no value. So everyone will continue to hoard them as the value falls through the floor? "Oh, it's becoming worthless... I'd better hang on to it rather than using it while I can still get something for it!"
Air must be really good for use as money as there's so much of it.
1 Bitcoin worth more than 1 Ounce of Silver - NonEntity - 02-21-2013 10:34 AM
As of the moment, 1 Bitcoin = $29.85
As of the moment, 1 Ounce Silver = $28.75
RE: Bitcoin - eye2i2hear - 04-23-2013 04:44 PM
a discussion (per the Comments):
Bitcoins are not digital greenbacks - Less Wrong Discussion
RE: Bitcoin - NonEntity - 04-26-2013 02:41 PM
Bitcoin window stickers in Berlin:
from a Tweet by Mike Gugolski
RE: Bitcoin - LivingHuman - 04-27-2013 02:32 PM
I don't know enough about bitcoin to know if taxation is feasible / possible... What's the deal? Do the block chains of transactions make an audit possible?
RE: Bitcoin - NonEntity - 04-27-2013 02:40 PM
(04-27-2013 02:32 PM)LivingHuman Wrote: http://www.cbc.ca/news/business/story/2013/04/26/business-bitcoin-tax.html
Bitcoin is not inherently anonymous as all transactions are permanently recorded by number. If someone can link you personally to a Bitcoin address number (a particular "coin") then they may be able to show a chain of transactions are linked to you.
But with knowledge of what the system is and careful attention to changing addresses and mixing coins and such, you should be able to make your financial trail effectively anonymous to any but the most concerted efforts to discover you.
You will need to spend some time learning the system and the methods of mixing coins to obfuscate the trail.
RE: Bitcoin - gearheadmm - 04-27-2013 04:34 PM
(04-27-2013 02:19 PM)NonEntity Wrote:
(frb stands for f'in' rich biiiiatch)
RE: Bitcoin - LivingHuman - 04-27-2013 04:45 PM
I just noticed the litecoin logo on lrn.fm
Is anyone else even just a little bit dubious of these so-called news outlets that rush to report a crash and then say nothing about the partial recovery of value?
btw If some popular fiat currency 'crashed' to half its former value, I reckon a lot of people would be thanking their lucky stars it didn't go any further.
RE: Bitcoin - NonEntity - 04-27-2013 06:30 PM
(04-27-2013 04:45 PM)LivingHuman Wrote: btw If some popular fiat currency 'crashed' to half its former value, I reckon a lot of people would be thanking their lucky stars it didn't go any further.
I'm not quite sure of your attempted point, but an interesting thing to note is that the U.S. Dollar is currently worth about 1% of it's value 100 years ago (or maybe 200 years ago, I'm not sure.) I regularly bought gasoline for $0.21 per gallon in L.A. in the late 60s. I remember during the inflation period of the late 70s when I would spend all of my paycheck as soon as I got it because I knew that everything in the stores would cost more dollars next week, and more again the following week.
I cannot express how important I think Bitcoin is to the future of civilization. The ability to actually OWN something and control it and be secure from plunder... that is HUGE. Of course, as is said, it's hard to predict, especially as concerns the future, but still, this is one bet that is very high on my list.