Bitcoin
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- ZOOP0
WTF 700 posts about bitcoin & 600 are from CableStudios :/
no more videos of douchebags thx
- not to be a dick, but too much info brawZOOP
- i dunno, I like that he keeps this thread going. Good to come to qbn for news.inteliboy
- yeah, sorry about the news, can you let me know what I'm meant to do?CableStudios
- condensed version please? let's pretend I'm an idiot, makes things easier :DZOOP
- I do appreciate the posts Cable, but if I watched all the videos I wouldn't be able to do a thing with my hair!ZOOP
- +CableStudios
- inteliboy0
back up to $900
- #Bitcoin now valued exactly $926. Surging 6.3% in last 24 hours.CableStudios
- US government New Year’s Binge: Borrows $1,088 Per Household in 1 Day http://bit.ly/JB7cP9…CableStudios
- CableStudios0
Record 66% of Bitcoin trade is happening on a chinese exchange Huobi. So much for PBOC’s warnings.
- CableStudios0
Worth seeing all parts of this:
PART 1 (Ep73)
- CableStudios0
Part 2 (Ep74)
- CableStudios0
Part 3 (Ep75)
- CableStudios0
PART 4 (Ep76)
- inteliboy0
Every single time there is dramatic change in BTC price, NO ONE anywhere has predicted it. Damn you internets.
Reminds of that test done in the 90's (or 80's?) where a bunch of randoms hit the stock market against actual wall street wasps. The random people actually did far better even having no experience.
- twooh0
I'd really like to be able to check this forum out everyone now and again, without having to see spamming...
- or at least post pros/cons. I don't need to hear some Libertarian propagandaformed
- News or Spam?CableStudios
- BrokenHD0
I saw this random billboard on crenshaw in Los Angeles promoting bitcoin and nothing else.
googled: http://newsbtc.com/2013/12/23/sm…
- CableStudios0
Bitcoin crosses $1,000 on Zynga move
http://t.co/lIZNFMAYL9- ahaha@ zynga. grabbing at straws to try and stay afloat.lvl_13
- CableStudios0
If this is legit it's a game changer. "Facebook Testing Bitcoin Payments on Advertising Platform." CC: @maxkeiser
- CableStudios0
BIG NEWS! We are so excited to have @Zynga joining the #bitcoin community and our family!
- i_monk0
"I want Bitcoin to die in a fire":
http://www.antipope.org/charlie/…
tl;dr version:
• Mining BtC has a carbon footprint from hell.
• Bitcoin mining software is now being distributed as malware because using someone else's computer to mine BitCoins is easier than buying a farm of your own mining hardware
• The greatest benefits accrue to the most ruthless criminals
• Bitcoin's utter lack of regulation permits really hideous markets to emerge
• Bitcoin is pretty much designed for tax evasion
• Bitcoin's Gini coefficient makes a sub-Saharan African kleptocracy look like a socialist utopia
- CableStudios0
• Mining BtC has a carbon footprint from hell.
- Then why don't we stop burning fossil fuels?
• Bitcoin mining software is now being distributed as malware because using someone else's computer to mine BitCoins is easier than buying a farm of your own mining hardware
Prove it. - Open source official client here: bitcoin.org - review the code and show me.
• The greatest benefits accrue to the most ruthless criminals
- More drugs and guns bough with dollars than bitcoin.
• Bitcoin's utter lack of regulation permits really hideous markets to emerge
- You want it regulated by a Plutocratic Government? - The volatility is the birth pangs of the system. Will stop being volatile as soon as you stop measuring it in dollars. & anyway, long term (over the small 4 years it's been around) its done great against the dollar:
• Bitcoin is pretty much designed for tax evasion
- That's up to the end user. Points above; 1. More tax avoiders with Dollar than bitcoin. 2. Plutocratic Government so why pay tax to them?
• Bitcoin's Gini coefficient makes a sub-Saharan African kleptocracy look like a socialist utopia
- It's divisable. Bitcoin adresses do not reflect what individuals own anyway. That’s a fundamental misunderstanding.
- CableStudios0
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Let's try to refute your (his) points one by one:
"Mining BtC has a carbon footprint from hell (as they get more computationally expensive to generate, electricity consumption soars)"
Bitcoin is not not necessarily going to be more computationally expensive to generate. The difficulty could also decrease in the future or it could remain the same as it is now. Also, the electricity is not wasted, it provides integrity and security for the entire bitcoin payment network. How much resources do you think banks spend to keep their deposits safe from hacking and physical theft? Do you also consider those resources wasted?
"Bitcoin mining software is now being distributed as malware because using someone else's computer to mine BitCoins is easier than buying a farm of your own mining hardware."
It's not easier (otherwise, everyone would do it). It's maybe cheaper, but it's also illegal and can land you in jail. Mining BTC's on stock computer is also not very effective and the profits will decrease in the future if the difficulty of mining would rise.
"Bitcoin violates Gresham's law: Stolen electricity will drive out honest mining. (So the greatest benefits accrue to the most ruthless criminals.)"
Botnets make very small portion of the mining market. As stated above, cpu mining is very ineffective and can in no serious way compete with mining on specialized hardware (ASIC chips). See https://blockchain.info/pools for current stats. Botnets would be some portion of the "unknown", in other words - less then 14%.
"Bitcoin's utter lack of regulation permits really hideous markets to emerge, in commodities like assassination (and drugs and child pornography)."
Bitcoin lack of regulation is a myth. You write about china regulating bitcoin in this very article. Other existing regulations (KYC/AML laws, MSB licences, income/capital gain taxes etc.) already apply to bitcoin. Bitcoin lacks central authority but this in no way means that it is somehow extempt from our legal framework. Drugs should be legal anyway so i consider drug markets one of the good things bitcoin enabled. Assassination/child pornography/weapons are different matter but those markets already existed before bitcoin and i don't think bitcoin had any effect on their size. Ever tried to ship some illegal weapons via mail service over borders?
"It's also inherently damaging to the fabric of civil society. You think our wonderful investment bankers aren't paying their fair share of taxes? Bitcoin is pretty much designed for tax evasion."
Bitcoin is like cash. I agree with you that it is (relatively) easy to avoid paying taxes using cash or bitcoins. There are two solutions:
1) ban financial privacy, make reporting of every transaction mandatory so it can be taxed properly. Bitcoin actualy helps with this solution as every transaction is already public in blockchain. The only step remaining is to enforce proper registration of bitcoin addresses with their owners (and ban transactions from/to unregistered addresses)2) reform tax laws so we actually tax the things that make sense - land and physical property. there is no reason to tax income, financial transactions, sales, gifts, inheritance, capital gain, alcohol/tobacco consumption, gambling, import and export etc. (you name it). It makes no sense. If people did more of those activities, there would be no harm as those activities are not limited resources. Taxing land/properties and other limited resources on the other hand makes sense.
They are limited so we want them to be utilized effectively. We don't want rich people to squat large areas of land or lucrative buildings in city centers without using them properly. As a bonus, with limited resources you can easily keep track who owns them and who should pay taxes on them. You also keep the financial privacy. This would be my preffered solution.
- tl;dr I don't care about bitcoin.
You sound like a fanatic, btw.i_monk - and much of what you are saying is ridiculousformed
- Just a debate. Never mind.CableStudios
- why is everyone so moot about this subject??CableStudios
- tl;dr I don't care about bitcoin.
