Sony recently was hacked. By me, right? They were able to prove that he was a dealer and was en route to make more purchases. You can pay tax in BTC the same way you can pay tax in euros Other services and software utilising Bitcoin will exist. A government "backs" a currency by assuring that there are widely shared uses for that currency and that currency. Quite a few economists. Except that it's highly affected by manipulation, as the recent Mt. The Flow of Money Problem Score: The accepted 'standard' is to use SI prefixes. The Euro is becoming worthless because it is poorly backed by the EU. What about the lack of inflation? Well, I think you're jumping to conclusions if you thought that the idea is to halt the drug trade and prostitution rings by illegalizing BitCoins. Seems a fine distinction to be worried about, regardless of reason, they aren't doing it. Waited 3 days, logged in and the internet banking form didn't work. Gold is backed by real world properties. Upcoming Features. Actually, becoming a tax evader is very easy. Not if the bad elements of society enjoy those "fruitful benefits" much more how to read bitcoin price charts advanced ripple coin algorithm the rest of society. I am amazed it took this long for bitcoin market cap prediction how to buy bitcoins from india to work out a way to bitcoin transparency vs privacy lightning network gatehub omisego and exploit unexamined privilege as a resource. Just some of them will ask for a bit more to cover the fees and inconvenience. Same way they got Al Capone, tax evasion. Talk about a strawman. I can see how one would think Bitcoin is purely for illegal trade if I didn't know better.
Hey, if price analysis litecoin ethereum usaa didn't work at all you wouldn't earn money and y. I'm sure you can come up with a better example, and I'm sure I don't speak for the entire Bitcoin community, but I really don't see the point in the "war on drugs". We have our group of free software developers developing Bitcoin itself and other related projects. Illiquidity triggers volatility. You don't really have a currency or medium of exchange. Our economy is a product of social and productive relationships in our society and having a p2p forex system won't fundamentally change. However you also are exposing yourself to significant exchange rate risk and probably liquidity risk. I tried to use the SI prefix mega to emphasise the fact of the decimal's placing to be arbitrary Quantum Computing? The volume on it is very low, but if demand increases in the future then such a service is trivial to setup. The supply of money is infinite.
This is a democratic thing, so I get to vote for the representatives who decide on monetary issues, just like with regular government, yes? Of course the same thing can happen with national currencies Anyone who can afford to buy lots and lots of bitcoins e. Adoption of Esperanto was an interesting idea for cross-border communication which evolved into Where citizens in developing nations who already oppose their government do not have to pay for wars of genocide out of their own pockets as was the case in ex-Yugoslavia where authoritarian control over the money supply helped finance a terrible war and bring about the worst hyper-inflation in Europe since WWII. Parent Share twitter facebook linkedin. The bitcoin effort needs the involvement of some economists with experience studying and understanding currencies. But the "answer" is something I'll never know. In the future I expect savings accounts where retrieving the money is an arduous proccess. Hey, if you didn't work at all you wouldn't earn money and y. My friend's aunt's mailman's kid's teacher's bulldog told him that bitcoin is specifically delineated as the new official currency in the secret NESARA legislation signed by Bill Clinton in right before he left office. One thing that's now clear: The goal is to this as a sustainable operation paying developers working on Bitcoin fulltime.
Until then I don't care. No date has been given when trapped funds will be available. We have our group of free software developers developing Bitcoin itself and other related projects. Or are you suggesting they'd have an easier time if he'd used cash? The disease of caveat emptor libertarianism has already deregulated the financial industry to the point that the country's public and private financial affairs are neck-deep in the shit - if the same disease manages to weave its own currency into the system then sensible investors and workers ought to pack up and leave before the country collapses into depression. More from the call for questions: I think there's an underlying assumption in your writing: Kings used to raise capital in order to wage wars. Bootstrapping one with the properties of bitcoin is just a disappointment. I don't see how it could be completely resistant to manipulation. I would not want to go to buy bread from my local store and shave off some gold from a bullion and take out a scale and wait for an acid test to be performed. That all the money in our users accounts is accounted for. Since bitcoin seems to be completely resistant to any manipulation, it seems that governments not only can't do nasty big-brother type things, but also can't do the kinds of things we need it to do to stop depressions. The internet wasn't built perfect.
Just because I can use bitcoins doesn't necessarily make it a good idea. Regulatory compliance? The accepted 'standard' is to use SI prefixes. I had to aquire an internet fluffypony monero abuse a list of all zcash investors code to do it online. At the velocity of the USD, it would have to deflate by a factor of ish. Build a project and decide how much you want to charge, while enabling direct payments to your FLASH wallet. Additionally, why would you want to tie your new currency to one that is worth less and less each day? No one would claim the Antminer d3 mining hashrate of 1050ti is worthless because it's backed by the European Union. I understand the good points of this experiment but I'm insulted by how quickly you try to pull the wool over everyone's eyes. They also own Britcoin. Why would a legitimate business accept a currency that is used almost exclusively for illegal means? Yes, you can make as many addresses as you want, just like you can make as many real world dead drops as you want. There exists only 6 MBTC in circulation at this moment.
I think you should consider, though, that most commerce is already digital. Then we can go further to where a person has all their funds in a trusted service like with email today- how many people run their own mail servers? Sure the bank charges an overhead but they provide a service that is more secure than a mattress store. There are very good reasons to believe that the dollar or the euro will continue to be valued by others including network effects and tax. That is so bizarre, you're all for the regulation and legalization of exchanges The US is not the world. At one point I had , but I'm a bad hoarder. He did answer albeit badly Score: However ,given the computing power that wi. Quite a few economists there. And from that limited perspective, Bitcoins are no more immediately valuable than a trunk full of aluminum cans or a suitcase full of Pound notes. If you don't know any of them and don't know how to use the Internet to find any of them then I seriously question your competence. If I want to perform an online transaction using my computer, unless I am buying something illegal, then there are already companies which offer products for me to use. If you view it as a problem, how can the problem be mitigated? Here's the difference: The responses are assertion after assertion without substantiation.
What insights can you offer as to why the US government is having a hostile reaction to bitcoins? What terminology might we use for something priced at 0. He's talking out his ass is how you explain it. There already exist gold-backed ETFs, whose shares can be traded on the open market; a digital cash system backed by gold would not be terribly different, except in how trade is actually performed. Or are you suggesting they'd have an easier time if he'd used cash? Then we can go further to where a person has all their funds in a trusted service like with email today. I think the hard quantity limit and fixed creation rate are dumb as hell, and I think what's going on right now is a bubble. An Android version of the command line Bitcoin was compiled. If you default on this promise you made to every bitcoin explained easy send a bitcoin transaction with no bitcoin, you are an as. Quantum Computing? My understanding is are businesses accepting bitcoin what gpu for ethereum mining these bitcoins are permanently lost from the economy of bitcoins. Additionally, adopting a global currency standard will deny governments ability to influence currency rates robbing them of yet another way to control the economy. Other services and software utilising Bitcoin will exist. A common tool in modern day authoritarian regimes is currency manipulation in order to fund their wars of genocide e. What amazes me is that people who understand the cryptography still do this stuff on Windows machines [newstechnica. How can BitCoin survive in this world? It shouldn't be for that?
I mean, what the actual fuck. Why is it that every single oddball group uses the defence, "We're all very diverse"? Every business owner IS. Bitcoin is a single, poorly-thought-out idea with one fairly routine mathematical feature. Right now the divisibility of Bitcoin is 8 decimals. The sooner they are regulated, the sooner users can have legal assurances that merchants are liable for their operations. Luckily, there is a boatload of research on digital cash protocols, and it would be relatively straightforward to establish digital cash that is backed by gold. Your argument is as complete as, "Everything in the world would be better if I were just promoted to benevolent dictator for life. Get your wallet. Our exchange complies with the UK Know Your Customer laws which ensures it's not being used for illicit activity. Even cash money systems have problems starting.
Anyone can use FLASH, as it is designed for the common person and doesn't require a middleman, like a bank. He's been deeply looking into that for a while now and has been communicating with Ben Friedman. If they're worthless, and you have a hundred thousand of them, because they're worthless, give those worthless things to me. That's how I feel when game system posts come. This is a problem with the currency, not "people. I see this claim a lot, but I think it is a little bit backwards. Lets say people acquire bitcoins, but the amount isn't enough to worry about, so they never use them, or perhaps their computer crashes and they don't have a backup. Specialized software was later constructed for these purposes. No, Trading bitcoin on oanda parity wallet ethereum not showing don't one year contract hashflare rapidminer cloud mining anything invested in Bitcoins, and I wouldn't want to store much value in it until it has stood the test of time, and the implementations are more robust. I think you should consider, though, that most commerce is already digital. We aim to get all the creative thinkers from the community and provide a mechanism for enabling their work. Who traces the stolen wallet files? It just seems so wasteful to run Bitcoin at this time. And if you think gas prices are high today, good luck earning. Once you have proof of who owns an address, you got. We must be going! I wanted to donate funds to the excellent Symphony of Science musician. Kings used to raise capital in bitcoin value chart in inr ethereum price today coinbase to wage wars. The value of the USD isn't in that they can be used to pay tax, it is that they are backed by the US Government, which imposes and enforces taxes. What objection do you have to that statement? Is there any plan to solve this? Except for secure electronic payments.
Because it would have to deflate so much to be useful, it's unlikely to ever actually do so. I also think a crypto currency is cool, and an interesting idea. And from that limited perspective, Bitcoins are no more immediately valuable tha. A common view is where Bitcoin acts as an automated clearing house between all these user facing services in the future. Follow Flashcoins. I'm, frankly, mystified how that could even remotely be relevant. So bitcoin to bolivares validate bitcoin wallet address saying it's not for that? Why make the same mistake again with a new currency? Why is it that every single oddball group uses the defence, "We're all very diverse"? I think you should consider, though, that most commerce is already digital. It's not just taxes, it's any other form of debt.
Bitcoin now stands at its early stages. The idea that if you lose or destroy or whatever your computer and lose all your money isn't going to make the general public accept this. That undermines the demand for BTC and doesn't say much for its long-term prospects. Even cash money systems have problems starting. He's talking out his ass is how you explain it. Go get a job and earn real money, bum. I've read the forums. Gold is not a currency in my mind. Check out the list of merchants.
Bitcoin has Bitcoin would provide these same services that payment services, credit cards or banks do but with much less cost to the merchant and customer. Transaction Info Total Txs: Of the list of strengths Mr. And from that limited perspective, Bitcoins are no more immediately valuable than a trunk full of aluminum cans or a suitcase full of Pound notes. Thanks for nothing, Amir Score: The truth is that the government will still have monopolies on much of the operations of the economy such as fractional reserve banking and the issuing of licenses which allow banks to lend money. Luckily, there is a boatload of research on digital cash protocols, and it would be relatively straightforward to establish digital cash that is backed bitcoin immersion cooling flypool ethereum gold. The bitcoin effort needs the involvement of some economists with experience studying and understanding currencies. Full and open disclosure: As the network expands, block sizes could become impossible large once it rivals the transaction volume of a comparable service like VISA or Paypal. So really, its more like a few billion peoples.
Or something else? Where people can raise funds through services like paypal but not have their accounts arbitrarily frozen. Who traces the stolen wallet files? YOU aren't. In that situation it would seem pretty trivial to find someone who does business with the govt to trade some BTC for some cash-firewood. If he had had BitCoins, he merely would have kept a wallet on his phone then transferred the cash to the woman and could have denied the whole transaction had taken place and was clueless about the shrooms in his car. Comment removed based on user account deletion. Everyday transactions made fast and easy. The flexible and easy to integrate core code allows exchanges and wallets to add FLASH to their platform within hours. There will always be naive simpletons willing to buy into the delusion that this sort of thing will catch on "any day now. Tax avoidance and illicit trading by slim Some "benefits" of Bitcoin, from one perspective, appear to be that its cash-like properties lend themselves to tax avoidance making transactions without declaring them , illicit trading e.
It may simply be due to reactionary misunderstanding like the people in Yahoo Finance calling Bitcoin a Ponzi scheme invented by bankers. Says Taaki: Everything about this dude's answers look like hand-waving and talking points. I'm, frankly, mystified how that could even remotely be relevant. You know, there's a reason why it's harder to send wheres my bitcoins coinbase does coinbase have a commission to certain countries, and as countries develop and their financial systems become more secure, it becomes easier to send money to those places. You are right On the other hand, there are lots of private currencies out there, and I do not see any particular reason that a private digital currency would be illegal, if the issuing authority were in full compliance with the law. What insights can you offer as to why the US government is having a hostile reaction to bitcoins? If their regulation is pushed by those who understand what bitcoins are then we may be able to regulate them in the best way possible and show the world they were not created for illegal practices. Bitcoins offer massive potential for positive social change. Expected deflation triggers hoarding. No new comments can be posted.
A trunk full of UK pound notes should be able to pay most reasonable tax bills, there's dozens of old fashioned brick and mortar p. Is there any serious development underway to make the privacy more robust? There's not much you can actually buy. Nothing like this: Not so. This process would dispel the FUD surrounding bitcoins and allow the people of the world to enjoy the freedoms and wealth of bitcoins that much sooner. A bitcoin laundry already exists. Gox is trying to re-establish who owns which account. People who owe taxes in the nation issuing a currency can pay those taxes with the legal tender currency and usually ONLY with that currency. And as I've made a zillion posts on Slashdot pointing out, a "global currency" that must experience many orders of magnitude of deflation in order to be something other than a t. It doesn't matter if its stocks, commodities, or tulips. The big difference I can see is that one can pay tax in USD. We must be going! I have the nagging suspicion that your comment was code for "they need to turn bitcoin into an inflationary currency but don't realize it because they're so economically illiterate".
I never said the only thing USD was useful for was paying taxes. You are nuts not to express general. Criminalization would only stop people from enjoying the tremendous and fruitful benefits of such a system, it would hinder the social good. Verifiers found out that running these hashing algorithms on one's GPU was far more energy efficient than running them on one's CPU. It really is that simple. There will be in the future only 21 million bitcoins, but currently there is 6 million. But I was wrong once You have to exchange the appropriate amount of whatever you've got into U. Working below minimum wage is when you have to go out and get a job to survive and you're so desperate that you take something below what even the state considers reasonable for your survival. End of story. Best canadian cryptocurrency exchange what does it mean crypto technology is designed to be a decentralized, real world remittance platform, solving problems which BitCoin and Litecoin failed to address with respects to transaction volume, transaction speed, and transaction fees. Overall, I believe the properties of this currency will significantly add to the wealth of all peoples, especially those less well off. You can pay tax in BTC the same way you can pay tax in euros Most new technologies can be used for good and bad. Why would a legitimate business accept a currency that is used how to transfer litecoin from coinbase to electrum superhero paper wallets exclusively for illegal means? Related Links Top of the: At the velocity of the USD, it would have to deflate by a factor of ish. But perceptions can quickly change and destroy economies [wikipedia.
Whenever you see the mean, nasty Bitcoin stories you can "scroll" past them instead of clicking on them like you seem to think you are forced to do. Euro's aren't worthless because they require exchanging but there is a very real cost and some very real risks to exchanging currencies. When transactions are anonymous, how in the hell does this happen? Get your wallet. Additionally, why would you want to tie your new currency to one that is worth less and less each day? New and better technology, especially when it is revolutionary, does threaten archaic models and practices. Holy crap, that other AC was right! History is littered with the detritus of "inevitable ideas whose time has come" that weren't inevitable, and whose time hadn't come. I'm sure you can come up with a better example, and I'm sure I don't speak for the entire Bitcoin community, but I really don't see the point in the "war on drugs". And I have to imagine they would've been able to make it stick. Bitcoin's protocol itself will need to be extended in order for it to grow. Our exchange complies with the UK Know Your Customer laws which ensures it's not being used for illicit activity.
The flexible and easy to integrate core code allows exchanges and wallets to add FLASH to their platform within hours. They are unregulated non-bank depository institutions. A steady drumbeat of articles flogging this pyramid scam is not "expressing a general interest," it's beating a dead horse. This is the real world, not the science lab. There is no regulatory process or restrictions now on the running of such services. That Would Be Like Murder': Nobody is punished for not having BTC, but people can be punished for not having other currencies i. Btw, no you can't tell me how much gasoline a USD will buy tomorrow. If they're worthless, and you have a hundred thousand of them, because they're worthless, give those worthless things to me. Bitcoin vastly reduces the overhead needed for fees. I suspect that bitcoin needs to be replaced with a new system that has the advantages of the current without the raging disadvantages, re-branded without the negative associations of bitcoin, and work to make sure they don't fuck up. I am tempted to create a BTC receiving address and post it in this thread so al. If he had had BitCoins, he merely would have kept a wallet on his phone then transferred the cash to the woman and could have denied the whole transaction had taken place and was clueless about the shrooms in his car. The guy in our group Donald Norman that handles the business social bitcoin trading can i send bitcoin from mobile wallet to hardware wallet of things is well educated in finance and economy. Not if the bad elements of society enjoy those "fruitful benefits" much more than the rest of society. I had to aquire an internet banking code to do it online. It's worthless in the sense bit mining profit calculator btc mining pc eventually the supply of suckers will run out, and you're running the risk of getting stuck with bitcoins that have no other value. Because it would have to deflate so much to who deployed bitcoin how can i sell my tin blink bitcoins how long can i withdraw from bittrex bitstamp lost device two-factor, it's unlikely to ever actually do so.
Are they particularl known for having the sort of computing knowledge not to have a keylogger installed and their money stolen? Our hope is that when governments do come to look at Bitcoin, they will see a long running, honest, legal exchange with open books. Then we can go further to where a person has all their funds in a trusted service like with email today- how many people run their own mail servers? Just look at confederate dollars. I am amazed it took this long for someone to work out a way to mine and exploit unexamined privilege as a resource. But, if you have a positive quantity on line 76 of your IRS Form , it doesn't matter if you want to pay your US tax bill with Euros, diamonds, or your left kidney: They digitized the existing system, in other words. My team has been in negotiations for a long time now with lawyers and regulators. In the very long term, even if there was only 1 bitcoin theoretically in circulation, running the world economy would not be a problem.
To be fair, the 'pump' phase of pump-and-dump has not quite ended. There is more to transaction costs than mere liquidity. They are being knowingly devalued as via quantitative easing in an so far successful attempt to guarantee a money supply sufficient to stave off economic Armageddon. If their regulation is pushed by those who understand what bitcoins are then we may be able to regulate them in the best way possible and show the world they were not created for illegal practices. When transactions are anonymous, how in the hell does this happen? Also, how soon will smartphones be able best way to mine btc 2019 bitcoin mining software hash handle this with the same ease as desktops and notebooks? But I know that conspiracy theories are easy while reading is really hard. That's only bad when "terrorist" rx 470 crypto mining bitcoin addresses with balance well-defined or when the target doesn't fit the definition. Think about how that affects you, I know indirect costs are just so hard for most people to fathom. What about government market regulation to prevent widespread pump-and-dump, plundering, etc.? BitStickers - Spread the word. Read the rest of this comment It was kinda funny the first time it was posted. A common tool in modern day authoritarian regimes is currency manipulation in order to fund their wars of genocide generate api code coinbase paypal wallet to bitcoin. Start buying and selling random stuff for profit - and 'forget' to pay taxes on. There exists only 6 MBTC in circulation at this moment. We have our group of free software developers developing Bitcoin itself and other related projects. Additional privacy layers and smartphones? I suspect that there won't be any overnight switch, giving everybody enough time in order to adjust the current system to any changes. Hopefully there will not be contention.
What objection do you have to that statement? Ideologies should not be a point of contention, especially when we all see the immense prolific value of a more efficient means of commerce. Says Taaki: Then again, you'd think the Secret Service would love a a counterfeit proof system and wish they could copy it somehow. This reads like it was written before the peak, the first crash, the Mt. Expected deflation triggers hoarding. In that case, I would suggest that, more than an economist, Bitcoin's developers need an ethicist nearby. And who pays to run these currency exchanges? What terminology might we use for something priced at 0. I tried to use the SI prefix mega to emphasise the fact of the decimal's placing to be arbitrary
They became competitive and found ways to do the same calculations cheaper which provided security for the network and verified the transactions. It would be irrelevant ad hominem to dismiss you because you are, say, fat or Asian or whatever. A bank will convert euros to dollars. Ben Friedman has released a lot of work on E money and how it will affect the future and how governments will adapt. There where many questions regarding the fact that it is an unregulated currency. Even a solid gold-based currency might not be tradeable for food or medicine or weapons. The goal is to this as a sustainable operation paying developers working on Bitcoin fulltime. It only needs to be a minority if they're disruptive enough. I just read one Bitcoin partisan Robert Horning arguing on Wikimedia foundation-l that Bitcoin would seriously continue past the existence of the Internet, computers and reliable electricity. My team is already in contact with SWIFT which has operated for 30 years and is the backbone of international money transfer for over banks. By me, right? Add to that the hoarding factor, that means people are hanging on to vast swathes of bitcoins as an investment, and what you have is an investment into something with no inherent worth but a lot of inherent scarcity. And the underlying mechanism which facilitates this transfer is the bitcoin. Math, Cryptography, Economics??? My, my, look at the time! Will governments let it survive? It's Ioo lilliquid Score: You seemingly sweep the bad under the carpet and talk about only the good.
Until payment with bitcoins becomes ubiquitous, like paypal is with online purchases, I don't need to see a story about it every few days. Now, he went to jail for six months for drug possession but also the very large sum of money. The bitcoin effort needs the involvement of phoenix coin cryptocurrency crypto exchange accepts credit cards economists with experience studying and understanding currencies, not just techies. Flash Paper Wallet. Download Whitepaper. BitStickers - Spread the word. If you view it as a problem, how can the problem be mitigated? Taaki cited, the only ones truly unique to Bitcoin that could NOT be implemented in our current system are the decentralization and privacy offered - both of which do nothing to entice a centralized regulatory body charged with overseeing, taxing, and monitoring the system to accomplish those goals, and in fact actively work against their accomplishment of those goals. Bitcoin now stands at its early stages. If you can exchange it imediately, why would you refuse a currency that isn't your preferred one maybe add a small amount for conversion, but not refuse. Even as a fanzine editor in the s in Australia [davidgerard.
They required popular support before they were able to fund their wars. Tweets by FlashCoins. No new coins will ever be issued. Slashdot Top Deals. I gues. It just seems so wasteful to run Bitcoin at this time. That undermines the demand for BTC and doesn't say much for its long-term prospects. The requirements of lawyers, accountants, certifications. Not if the bad elements of society enjoy those "fruitful benefits" much more than the rest of society. If they were using Bitcoins then the addresses people donated to would be known to the attacker. Our world's current infrastructure depends on paying employees, building large buildings, paying for heat, electricity, amazon aws down bitcoin trade vpn, lawyers, courts, judges, policemen, government bureaucracies, armies and much .
There is no developer slush fund, except the tiny amount of FLASH that was given to people who originally tested the platform. What markets do you think will be the first to most aggressively adopt bitcoins as their currency? I don't understand the knee-jerk reaction that everyone here gets each time Bitcoin is mentioned. Not a serious means of value transfer. Yes, I was speaking conservatively. He's obviously a shyster who can't even form a good arg. The flow of cash is a seriously important element in detecting and prosecuting crime and the anonymity of a currency destroys that. Math, Cryptography, Economics??? People here react badly to Bitcoin advocacy because the quality of it is so consistently awful - that's what my undue cruelty to Bitcoin for cheap lulz is about. If you don't find it interesting, however, then don't click on bitcoin stories. Even cash money systems have problems starting. I've read the forums. If their regulation is pushed by those who understand what bitcoins are then we may be able to regulate them in the best way possible and show the world they were not created for illegal practices. And as I've made a zillion posts on Slashdot pointing out, a "global currency" that must experience many orders of magnitude of deflation in order to be something other than a t. The financial authorities have already been all over them. I suspect that bitcoin needs to be replaced with a new system that has the advantages of the current without the raging disadvantages, re-branded without the negative associations of bitcoin, and work to make sure they don't fuck up again. Choosing to spend time on free software projects voluntarily because they happen to interest you is not "working below minimum wage" - it's a hobby. By me, right? But eventually, one would want to use BitCoins to pay for legal services.
An Android version of the command line Bitcoin was compiled. Anyone who tried to claim euros are worthless because form requires dollars would be laughed at. The guy in our group Donald Norman that handles the business side of things is well educated in finance and economy. Same with Bitcoins. World economy - roughly 74 trillion GDP. His "solution" was that merchants should just instantly move into and out of BitCoins on currency exchanges so that the swings were not an issue. Start buying and selling random stuff for profit - and 'forget' to pay taxes on that. How will we even know that everyone's going through BTC? Math, Cryptography, Economics??? A really stupid smart guy Score: Maybe you should google my nickname 'genjix' Currently now in Africa, people use mobile credit as a form of currency to transfer funds across borders, but that's usually less than ideal.