31–40 of 78 posts
They should change the name to Bitstant. It's two syllables and rolls off the tongue more smoothly.
It's interesting how Bitcoin is now becoming exactly what Bitcoin was always against: a centralized bank. A bad and unreliable one at that. It kind of shows you the evolution of our banking systems and why we need one.
Even if I concede the point that Bitcoin is becoming a centralized bank - which I don't - how exactly is it "bad and unreliable"? At least this bank is run algorithmically by the crowd/cloud and can't rape pillage or otherwise screw you out of your money on the whim of a handful of rich white men... Perhaps I'm showing my politics too clearly here, but I do honestly believe that math is a better tool for deciding wha…
One important thing stopping the current depression from being as catastrophic as the great depression is the policy of the Federal Reserve (which is hugely influenced by Goldman Sachs) of printing money and keeping interest rates at 0%. If they didn't do that, we'd be far worse off right now.
So yes, as far as regulating the money supply goes, I'd trust the directors of Goldman Sachs over some algorithm any day, especially when that algorithm seems to have been designed by people with a very dogmatic theory of value, a theory that history demonstrates is incompatible with happiness.
This will be a huge factor in increasing demand for bitcoin if it comes through. The biggest problem with bitcoin now is that it's not widely accepted for payment (i.e., it's not yet a medium of exchange). A debit/credit card is a big step in allowing people the ability to exchange their bitcoins for real goods. What will be really exciting is the day when you can actually see goods priced in bitcoin. E.g., that cupc…
Really you think THAT is the biggest problem with Bitcoin. Not the fact that its value fluctuates so wildly ?
This seems like an excellent opportunity for authorities to physically track people who use their bitcoins for illegal purposes.
I hope it's for real. I was just looking for a backup debit card for international travel. This would give me a low-risk but high-utility reason to finally try bitcoin. And avoid opening another damn bank account
And do you really need a bank account per credit/debit card? I'd assume you have "external" credit/debit cards, where the only connection to the account is that it is charged monthly.
Earlier quoted context omitted.
Even if I concede the point that Bitcoin is becoming a centralized bank - which I don't - how exactly is it "bad and unreliable"? At least this bank is run algorithmically by the crowd/cloud and can't rape pillage or otherwise screw you out of your money on the whim of a handful of rich white men... Perhaps I'm showing my politics too clearly here, but I do honestly believe that math is a better tool for deciding wha…
Bitcoin has deflation baked into the system. Deflation is _terrible_ for the economy because it encourages people to hide cash under mattresses instead of spending it on useful projects. (Or in more abstract terms, deflation raises the minimum viable rate of return on investment.) We've learned this lesson well. All the really terrible depressions --- the 1870s, the 1930s --- featured crippling deflation that kicked…
Another school of thought also says that inflation is a second form (after the taxes) of government oppression over the citizens; and that truely free currency should avoid both forms of government oppression: inflation and taxation.
I hope it's for real. I was just looking for a backup debit card for international travel. This would give me a low-risk but high-utility reason to finally try bitcoin. And avoid opening another damn bank account
These are exactly the kind of thoughts I like to see people having about Bitcoin.
I hope it's for real. I was just looking for a backup debit card for international travel. This would give me a low-risk but high-utility reason to finally try bitcoin. And avoid opening another damn bank account
Earlier quoted context omitted.
Even if I concede the point that Bitcoin is becoming a centralized bank - which I don't - how exactly is it "bad and unreliable"? At least this bank is run algorithmically by the crowd/cloud and can't rape pillage or otherwise screw you out of your money on the whim of a handful of rich white men... Perhaps I'm showing my politics too clearly here, but I do honestly believe that math is a better tool for deciding wha…
Bitcoin has deflation baked into the system. Deflation is _terrible_ for the economy because it encourages people to hide cash under mattresses instead of spending it on useful projects. (Or in more abstract terms, deflation raises the minimum viable rate of return on investment.) We've learned this lesson well. All the really terrible depressions --- the 1870s, the 1930s --- featured crippling deflation that kicked…
It isn't an either/or scenario. Parallel currencies for the win!
Anyone of you got more bitcoins then me?(0) ;) I tried to get a single bitcoin for multiple times, but it never worked out ;) I guess my hardware is too bad.