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this is all very cryptonomicon to me.
Further, does anyone remember the Liberty Dollar? I remember a famous hacker exhorting "Don't mess with the Eagle".
Just askin.
Earlier quoted context omitted.
1. Why so angry? 2. Calacanis is how my name is spelled. 3. It's just one person's opinion--but a well informed one. Why not spend your time reading the piece and pushing the discussion forward based on merit? best j
To respond to your points in reverse order (ignoring "3" which isn't actually a point): Firstly, there's really no need to sign things with your name. Your name is at the top, it doesn't need to be at the bottom too. 2. Sorry. Many letters. Small font. Light grey text. Calacanis. Got it now. But (1) is a good question. I'm not angry, but this "bitcoin" meme does annoy me. Why? Because it's one of those viruses that c…
So you agree with the article, but you don't want people to talk too much about it on HN? I think it is a very weird position to hold. Imagine there was a very dangerous disease, should it be discussed openly in physician congresses? Yes? Same here (HN is the hackers congress, right?), so let us discuss the topic freely.
Why is Bitcoin so dangerous:
- Could break the current economy.
Ok, and so? Is the current economy that perfect a thing that we do not want any replacement? Just have a look in countries where all the wealth created is sucked by a very few corrupted nababs lying down in sofas, and meanwhile people starve silently in the streets. I don't say Bitcoin will fix this, I just say that changing the current economically rules is still a possibility, and Bitcoin-like currency could be a part of the picture. The current economy applied to the world is in fact a very specific and recent invention. In Imperial China (only 200 years ago), the inflation was artificially set to a very high level, so the price of money would go down very fast, and nobody would think of "keeping money aside", so everyone was just spending. That's another model, it did work not so bad for a big part of humanity for some centuries. I am no technotarians, I respect the law, but I think it is quite possible that our economical model is not the best possible.
- Bitcoin could ease the work for wrong-doers (drug traffic, etc.)
This argument is very weak. The same has been said for cell phones, Internet, etc. If this powerful tool is kept secret and hidden in a kind of black market, it will help mostly people in these places. If we discuss it openly, and make it accessible, it may help more "normal" people.
- Tax
Tax is the biggest issue, but let's not be in fear: Governments are very imaginative when it comes to getting money from their administrates. For example, they could easily ask for Bitcoins in exchange of the right to use information vectors (cables, wireless).
Every great innovation have been seen as extremely dangerous by the people in place. Do you take the plane? Yes. Did you heard about this guy a 100 years ago who tried to fly like a bird: he held tight a set of man-made "wings", jumped from the top of the Eiffel tower, and flatly crashed on the floor. One of my good friend's father did refuse to take a plane to see his newborn grand'son.
So I have a couple of questions. First, the claim is that it cannot be taxed. Has the IRS said that exchange of Bitcoins for, say, labor, cannot be taxed? Further, does anyone remember the Liberty Dollar? I remember a famous hacker exhorting "Don't mess with the Eagle". Just askin.
The tax laws may be difficult and expensive to enforce ... with an anonymous digital currency.
My only gripe is it's quite difficult to find a way to transfer real-currency to BTC easily, and fast. I have to pay $25 - $50 for a bank transfer if I only want to get 10 BTC? It was easy and useful to use PayPal, until everyone started getting banned.
Earlier quoted context omitted.
I think it's a great article.
I am a great writer, yes. :-) Seriously, let's break this down: a) I hear about a trend b) I read everything I can find about it c) I have two full-time analysts read everything on it and talk to 10 people. d) I have 30+ producers of my show do research e) I host a podcast with the lead developers f) I read a ton of comments and listen to the feedback on the show g) I write a piece two weeks later after taking it all…
Completely unrelated to this site, but did anyone else panic and think their monitor was covered in smudges while reading this site? Worst background ever: http://launch.is/storage/launch_bg.jpg
why would this lead to prosecution by world governments? well, ok, maybe it will for a while, but if the tech really were to take off, it would just end up being taxed in the end anyway. Taxing it isn't harder than taxing cash transfers. this is all very cryptonomicon to me.
If bitcoin will succeed, we will see a political singularity in several years.
Earlier quoted context omitted.
To respond to your points in reverse order (ignoring "3" which isn't actually a point): Firstly, there's really no need to sign things with your name. Your name is at the top, it doesn't need to be at the bottom too. 2. Sorry. Many letters. Small font. Light grey text. Calacanis. Got it now. But (1) is a good question. I'm not angry, but this "bitcoin" meme does annoy me. Why? Because it's one of those viruses that c…
Bitcoin "can be really dangerous to social news ecosystem" So you agree with the article, but you don't want people to talk too much about it on HN? I think it is a very weird position to hold. Imagine there was a very dangerous disease, should it be discussed openly in physician congresses? Yes? Same here (HN is the hackers congress, right?), so let us discuss the topic freely. Why is Bitcoin so dangerous: - Could b…
No, he doesn't (necessarily) agree with the article - what he's saying here is that bitcoin early-adopters have an incentive to spread the gospel of bitcoin by whatever means possible, which means that social news could get subjected to a tide of bitcoin-related spam. Different form of danger altogether.