Bitcoin mining made easy - Page 29

Bitcoin mining made easy

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Cheesecan
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Re: Bitcoin mining made easy

Post by Cheesecan »

I think you're getting the hang of it. Go sheep.
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varikonniemi
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Re: Bitcoin mining made easy

Post by varikonniemi »

That case against bitinstant's CEO is ridiculous. He is charged with money laundering because someone he sold bitcoins to allegedly sold them to someone who allegedly used them to buy drugs on the silk road :D

On the other hand they just give a fine to someone who has been actually laundering money. In a business (drug trade) that usually carries ridiculous sentences. Just look at what the silk road's owner faces JUST FOR HOSTING A MARKET PLACE. Not actually being the one who washes the money, unlike HSBC.
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cheapsheep
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Re: Bitcoin mining made easy

Post by cheapsheep »

Well, you can't really defend them... *knowingly* selling bitcoins for bad purposes can not be left unpunished (and bypassing AML checks you are responsible to enforce).
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smoth
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Re: Bitcoin mining made easy

Post by smoth »

well, if my understanding is correct, someone on bitcoin is just an ID.

So like if they really wanted to, they can hide, where as a bank you need to prove who you are. INB4 identity fraud, there is some level of paper trail linking you to a person.

I don't really think the charges will hold against the guy but witch hunts seldom are logical.
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cheapsheep
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Re: Bitcoin mining made easy

Post by cheapsheep »

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Evangelion
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Re: Bitcoin mining made easy

Post by Evangelion »

cheapsheep wrote:A Case Against Bitcoin
That argument is so circular one would feel the author invented the wheel.

"It's bad because it's not widely adopted therefor we should not widely adopt it"
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PicassoCT
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Re: Bitcoin mining made easy

Post by PicassoCT »

Therefore, to get it widely adopted, bitcoin became a electric car.

Every change is resisted, thats a normal part of the process. So why argument, you could invest that time into creating a local "gasoline" station for bitcoin. You will however, not beat the state out of tax-revenues, and if he has to take his own citizens hostage for that.

Most adapt scenarios i can imagine, is either as a world-currency, who allows states to draw taxes. Or as a company-currency, for the big ones, who are basically tax-freed anyway at the moment.
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varikonniemi
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Re: Bitcoin mining made easy

Post by varikonniemi »

Smoth: Bitcoin seems to be taking over the mom&pop gas stops! This was one of your criteria for mainstream? :)

Image
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smoth
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Re: Bitcoin mining made easy

Post by smoth »

Again, just because you can cite 1 or 2 instances doesn't make it mainstream. I gave you a clear definition of the word, so ESL is no longer an excuse
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varikonniemi
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Re: Bitcoin mining made easy

Post by varikonniemi »

It must be mainstream once you can trade it at your local post office.

http://www.coindesk.com/us-postal-servi ... exchanges/
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smoth
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Re: Bitcoin mining made easy

Post by smoth »

Image
smoth wrote:Because you have begun to see every statement that doesn't hail it as a rampaging success as an attack? I think Varion is greatly overstating the success and usefulness of bitcoin.

http://www.merriam-webster.com/dictionary/mainstream
a prevailing current or direction of activity or influence
Prevailing means it has defeated something... so I cannot say bitcoin has done that. I cannot say it has really changed the direction of anything.
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cheapsheep
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Re: Bitcoin mining made easy

Post by cheapsheep »

Stop it vario :)
I also smiled when I saw that picture... but decided to not troll smoth with it, because he is really not funny. Here is a recap if you missed it:
smoth wrote:Again, just because you can cite 1 or 2 instances doesn't make it mainstream. I gave you a clear definition of the word, so ESL is no longer an excuse
as I said previously:
cheapsheep wrote:So note that, by definition, it will never ever be mainstream for in-store purchases. Because, by fiat decree, every business has to accept local fiat money, so there is no chance for bitcoin to be accepted by more place than every business (that is, until state/fiat money fails).
If you prefer something more formal:
A: businesses accepting bitcoins
B: businesses accepting fiat
C: all businesses

by fiat decree:
B = C
obviously, you won't have more businesses accepting bitcoin than there are business in existence (until/unless fiat currency fails), so:
A ⊆ C
so to make smoth happy ("Prevailing means it has defeated something") you must reach this point:
A ⊃ B

What smoth is waiting for is not a growth in bitcoin adoption, it is a breakthrough in set theory, in order to satisfy the following:
A ⊆ C ⊂ A

Good luck vario! You can lead a horse to water but you can’t make him drink :)

And to Evangelion... congratulation for noticing that there is something fishy in the article! Read it again as a subtle satire, you may find it funny ;)
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smoth
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Re: Bitcoin mining made easy

Post by smoth »

cheapsheep wrote:as I said previously:
and I was replying to vario, not you. You seemed to get what I was saying. You guys all act like it is some fight over who is right or wrong. In my eyes it just a neat side diversion.
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PicassoCT
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Re: Bitcoin mining made easy

Post by PicassoCT »

This is not a argument, this is just contradiction.
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knorke
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Re: Bitcoin mining made easy

Post by knorke »

I would still like some opinions on this, since I found no article that covers it:
Money does a circular flow, simplified version:
People buy prodcuts from companies. (money goes from people to company)
Companies pay people their wages. (money goes from company to people)

Unless bitcoin is used in similiar way, its value will always be tightly connected to the normal currencies from which it wants to be independent.
You can put up as many shops/machines accepting bitcoins but in the end it is remains just a fancy new way of payment? Like you can spend your dollars/euros in cash or you can spend them via creditcard or you can write a cheque or can use paypal,etc..
But you would not call those things a currency.
And now you can exchange your dollars/euros for bitcoin and then pay with that...

---
Also
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cheapsheep
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Re: Bitcoin mining made easy

Post by cheapsheep »

I don't know if bitcoin is more a currency or a commodity or even maybe something else. But since bitcoins that "spring into existence" (via mining) are decoupled from any backing (gold/commodity or a fiat currency), it is more than just a payment method. Its price is floating and not pegged to anything, because when a new bitcoin is created, there is no counterparty. That is like any central bank, who can issue more of its currency without having to exchange it against anything. In the past, in the Bretton Woods system, it was not like that.
its value will always be tightly connected to the normal currencies from which it wants to be independent
I disagree with that part. The bitcoin price volatility is a "proof" that it is not tightly connected.

How countries approach Bitcoin from a legal point of view show that depending on the wording of the laws in each country, Bitcoin may currently be considered a currency, a commodity, or a payment method (or sometimes, none of these, due to restrictive wording that didn't plan such a beast). But whatever word they use to refer to it, the price isn't pegged to the national currency so it has some characteristics of a currency/commodity, and a bitcoin can't be dissociated from its underlying network which serve as a payment network, so it is that too.

See these 2 links:
http://bitcoin-ok.org/nations/
http://www.hsgac.senate.gov/download/re ... isdictions
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smoth
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Re: Bitcoin mining made easy

Post by smoth »

You guys hear about apple kicking bitwlet out of their apps store? You should read about the hilarity
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Cheesecan
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Re: Bitcoin mining made easy

Post by Cheesecan »

Bitcoin is obviously not a currency since mtgox has frozen all payouts.

It's a fucking sham.

Don't expect to get your money back, suckers.
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cheapsheep
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Re: Bitcoin mining made easy

Post by cheapsheep »

Awww... the constructive pair of boys is back.
Who are you talking to, Cheesecan? Do you know anyone using MtGox or is this just a post you made after a binge friday night?
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smoth
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Re: Bitcoin mining made easy

Post by smoth »

Why are you so negative, I think it is more about apple finally showing their true colors. Was nothing against your precious bit coin stop being so fucking defensive
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