Bitcoin

[Awani]

...decided to exchange all his money for bitcoins... the value of the bitcoins fell and he couldn't have the vacations he wanted... he would have been able to have them if he had chosen a different currency...

Well this is the same for any currency. Also it is his own fault for gambling with money he needs. All true gamblers know that you only bet what you don't need.

Well, if the bitcoins value goes down, you probably won't be able to buy the house.

And if it goes up buy two houses.

Other than that, they are for sure not the "anti-capitalist" currency of the future...

Who said we should have that? I am 100 % for a real free market.

I don't think they are a "paradigm shift".

We'll just going to have to wait and see...

A paradigm shift involves all the aspects that it touches, so it can easily also involve a paradigm shift in methods of taxation/confiscation .

You know people had the same issues and ideas with Email and the Internet. It does not matter really if people like or dislike cryptocurrencies... it will become reality! Just like VR!

Either you "run with it" or you get dragged behind it.

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I still think that the most important aspect of cryptocurrencies, and especially the genius of the Bitcoin algorithm, is not appreciated for what it means for the world - not in monetary terms - but in empowering terms. Like I said it is not about money, it is about freedom. And it is about sticking it to the man.

Who cares if the CIA invented Bitcoin... they probably invented the Internet. So what? No one ever heard of the tale of Frankenstein?

[Awani]

...nothing is absolutely anonymous and confiscation-proof but cryptocurrencies seem to be very close to it.

I see both paper currency & bitcoin as belief systems, but at least bitcoin, transfers more power to the individual.

Yes.

For a good general overview have a look at: Bitcoin: The End of Money As We Know It

[JDP]

PayPal, for example, is a financial institution, virtually a bank that has to comply with ever increasing regulations.

So far it looks like taxes do not apply to certain amounts of money (I think the limit is $20,000) being held as "balance" in your PayPal account. For many years I have had varying amounts of money (sometimes well in excess of $1,000) in it and the IRS does not know about it, or if they do they apparently can't do anything about it, because I have never had any notifications regarding this "undeclared" income. If you move these funds to your bank account, though, things are quite different and you must report this income. PayPal Balance is almost as if it was a virtual safety deposit box where you can keep your virtual cash in, as long as you do not exceed the limit.

[zoas23]

Something that a friend of mine who is a damn genius when it comes to computers and programming posted on his facebook:

https://medium.com/@octskyward/the-r...1f7#.884tphogf

(This friend of mine is a person who works as a freelance programmer who checks the software that huge banks use... and one of the main experts of the world when it comes to encrypted software -also "famous" for having created a software that calculates the astrological heaven for any given time, does all the Shemhamphorasch calculations possible, places the tatttwas in the chart and also integrates the 28 moon houses... he programmed it in a single night -it's only available for his friends, since it is stored in his computer and he has no intention of making it public)... all these nonsensical descriptions of him are simply to explain that he does not post bullshit when it comes to computers.

[Awani]

https://99bitcoins.com/bitcoinobituaries/

Also if it is Bitcoin or some other crypto cash is irrelevant, but it is easy to find any side to the argument online.

My "go to" source has always been Andreas Antonopoulos:

I disagree with Mike Hearn's analysis and concerns... I thank him for all his work and wish him all the best. Onwards

Bitcoin's invention was an engineering solution to a governance problem. We can solve bitcoin's governance challenges with more engineering.

Best way to respond to all the drama in bitcoin is to focus. Buckle down, work, don't get distracted. Engineering solves problems. Code On!

[Awani]

1 Bitcoin = USD 15 000

Fuck, wish had bought more than one five years ago... greed is never satisfied. Now I want it to crash so I can buy tons more... I don't know what the future holds for Bitcoin... all I know is that digital currency is a reality... in the end the only thing we win or loose are numbers on a screen. Value is relative. And you can't "win" unless you play.

[JDP]

1 Bitcoin = USD 15 000

Fuck, wish had bought more than one five years ago... greed is never satisfied. Now I want it to crash so I can buy tons more... I don't know what the future holds for Bitcoin... all I know is that digital currency is a reality... in the end the only thing we win or loose are numbers on a screen. Value is relative. And you can't "win" unless you play.

Just remember that next time you want to rant and put into question the reality of "chymical" and alchemical gold & silver...

[Awani]

?

[JDP]

?

Look at the underlined portions of your own words, and ponder in terms of artificial precious metals...

[Awani]

Look at the underlined portions of your own words, and ponder in terms of artificial precious metals...

First of all the "greed" bit was not written with serious emotions attached. Secondly I have not done any study or work or anything. I just bought the Bitcoin, and then it was worth USD 15 000. I think you spend more energy in a day on trying to make gold than I did making that 15 grand in the past 5 years. So does not really relate unless you managed to make a "shitload of gold" by now. In short if you would have spent the same amount of energy on mining Bitcoin 5 years ago as you do on alchemy, you WOULD with 100 % certainty, been a millionaire by now (in dollars). The math: you would have mined 1 Bitcoin per month for 5 years = 1 000 000 USD. Funny.

Also the Bitcoin does not have a value for me really, since I am not selling it. And as long as I don't do that it is practically useless. Also funny... but fun.