91–100 of 130 posts
Notable is that Ethereum is experiencing a lagging, but similar, increase in value. According to Coinbase [1], it has gone from 8.30 -> 11.42 (37%) since the 1st. 1. https://www.coinbase.com/charts
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The IRS got people to give up the identities of other people. With bitcoin, if you take the right precautions, it is impossible for anyone to know which account is yours. It is a TECHNICAL solution. It doesn't matter how many people the IRS threaten. Can the US government tell everyone in the world to think of a random number, then these citizens don't tell anybody what number they chose, and then can the government…
OK. So buy something with Bitcoin without : * Ever appearing at a retail establishment with security cameras * Ever scheduling a product for delivery to any address, period * Ever scheduling a service to be provided at any location, period * Ever communicating with the other party via any means whatsoever, including placing an order online, not even via Tor behind seven proxies And tell me how it goes. Because all of…
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"Not to mention that once it is perceived as more than just a nuisance by some major government it will be shut down in a heartbeat." People keep saying that, and they keep being wrong. Think of all the illegal things that happen over bitcoin. There are lots of people who would want to shut it down if they could.
You're both under- and overestimating the worlds' government: - You're under estimating their capability to shut down trade in bitcoin. Sure, they won't be able to stop you from running the software. But they have the ability to stop any transfer into/out of the digital world. That part is quite easy to proof: real-world usage of bitcoin requires exchange for regular currency. And bitcoin was founded on the belief th…
You overestimate the willingness of the police force to prove that they are willing to risk their lives and die for what they believe in. In fact, they won't. Ultimately, they count on the army to do that, who won't either.
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What asset backs dollars?
"What asset backs dollars?" USD are mostly backed by T-Bills, i.e. government bonds, i.e. the faith you have in the US government (i.e. people of the US) to pay you back. Oddly - they are priced in dollars creating a really odd circular dependency. If the US government paid off all of it's debt today, most currency would be sucked out of the market! :) Since 2008 - some of USD is backed by crappy real-estate. Euros a…
I think that whatever alt gets a good light wallet that supports seamless transactions (contactless/touchid) for mobile devices might get some serious traction...
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OK. So buy something with Bitcoin without : * Ever appearing at a retail establishment with security cameras * Ever scheduling a product for delivery to any address, period * Ever scheduling a service to be provided at any location, period * Ever communicating with the other party via any means whatsoever, including placing an order online, not even via Tor behind seven proxies And tell me how it goes. Because all of…
Ultimately, all of this assumes that the IRS are willing to prove that they will risk their lives and die for what they believe in. They will not, because they expect the police force to do that, who in turn will not, because they expect the army to do that. And that is how it all went wrong so often in the past.
Please, they'll just use another branch of the government to disappear some people. It's not like they have any scruples doing that already.
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OK. So buy something with Bitcoin without : * Ever appearing at a retail establishment with security cameras * Ever scheduling a product for delivery to any address, period * Ever scheduling a service to be provided at any location, period * Ever communicating with the other party via any means whatsoever, including placing an order online, not even via Tor behind seven proxies And tell me how it goes. Because all of…
Ultimately, all of this assumes that the IRS are willing to prove that they will risk their lives and die for what they believe in. They will not, because they expect the police force to do that, who in turn will not, because they expect the army to do that. And that is how it all went wrong so often in the past.
And if somebody plans to kill IRS agents, well, that is going to bring out the heavy forces, and will not end well for the tax evader.
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"What asset backs dollars?" USD are mostly backed by T-Bills, i.e. government bonds, i.e. the faith you have in the US government (i.e. people of the US) to pay you back. Oddly - they are priced in dollars creating a really odd circular dependency. If the US government paid off all of it's debt today, most currency would be sucked out of the market! :) Since 2008 - some of USD is backed by crappy real-estate. Euros a…
The bigger problem with Bitcoin today is that it can't be used for regular transactions. Due to the 1MB blocksize cap (that people having being trying and failing to fix for 2 years), Bitcoin has been limited to ~3tps, has permanent backlogs in the mempool in the thousands (and climbing to tens of thousands during busy times) and tx fees have risen to 10-20 cents (or more) for regular transactions, making it useless…
With Bitcoin, consumers can connect to clearing intermediaries via payment channels, allowing them to be in full control of their funds while having them ready for instant transfer. If merchants are willing to accept a week of credit risk -- which, I would argue, VISA proves that they are -- then thousands of off-chain transactions can be cleared into a single Bitcoin transaction, making the performance of the underlying blockchain less important.
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I've seen comments like this posted on HN for the past 3 years. Bitcoin's "bubble" has already popped many times but it has rebounded each time. Maybe the next time will be the last, but a lot of people have been wrong about that so far.
We're entering a new bubble, this one being driven as the Yuan crashes: https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&... Just because it's being repeated doesn't mean it's wrong.
Notable is that Ethereum is experiencing a lagging, but similar, increase in value. According to Coinbase [1], it has gone from 8.30 -> 11.42 (37%) since the 1st. 1. https://www.coinbase.com/charts
Not just ETH, but most of the top alts have hit ATHs today. XMR is up over 50% this week, and DASH is up 66%.