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Beh, it's easy, just claim that bitcoin is only used to launder money, buy drugs, and finance terrorist, and pretend that old institutions are the only way to provide accountability.

When the facts stand clearly against this, how gullible do you expect the public to be? In the senate hearings, as i have posted here, it was repeated several times that Bitcoin is not significantly used to launder money/criminal activities. Cash is still superior because Bitcoin is public.

So at this point it would need a complete 180 turn from all major world governments to make your example plausible. Most governments (like all eu ones) have unanimously approved of Bitcoin as being a monetary instrument guided by free market rules. Germany has declared Bitcoin an official currency.

I just don't see a threat anymore. The opposition laughed at Bitcoin when they should have fought it the hardest. Now the cat is out of the bag, and nothing short of a world war can put it back again.

varikonniemi wrote:

By and large the community here isn't stupid.

smoth wrote:Anarchid bitcoin cannot be used as currency. It cannot be split into smaller denominations.

varion bitcoin has nothing to do with merits.

I hope this exception solidifies the rule. Now on to something not completely retarded:

More attacks on intelligence you can enjoy your cult mentality. I used to think you were a cool guy.

Is that so?

smoth wrote:because he insults everyone who questions his beloved bitcoin. The guy has so much bias in this stuff it isn't even funny.

smoth wrote:it is all this "we" stuff that is making you sound like a cultist.

If you dish it out, you should learn how to take it.


(I hereby promise, that this was my last comment on smoths "manner", so this thread doesn't get derailed.)

Aw how cute you can quote out of context

Germany has declared Bitcoin an official currency.

Germany has acknowledged Bitcoins as "Rechnungseinheiten" ("unit of account") and "private money" but that is different from declaring it an official currency.
That status is given to lots of things, like all the various local currencies.
Local currencies are somewhat popular in germany: There are many small groups of people who exchange stuff with each other (like selfmade stuff, think woolen pullover vs jam or whatever) and since they want to keep a friendly personal athmosphere they do not use Euros but instead some made up currency to pay each other. Since that could be used to hide black labour (working without paying taxes) those things can get checked.
The reason as I understand is that in future they want to tax shops when they sell stuff for bitcoins. If that would be good (official acceptance) or bad (taking away one advantage) can be debatted.

The ZipZap thing is only a very, very small step. It is basically another way to exchange bitcoins <-> real money. That is nothing new, only difference is that before it could only be done online.
Isn't ZipZap just something like PayPal except they have shops in the offline world?

To be honest it took me a while to find info about the real ZipZap https://www.zipzapinc.com (it think?!) between all the babywear, RC cars and other things with same name.
This is what I call the zip zap rap!

I just don't see a threat anymore.

I see some threads I see for bitcoins. Listing only the ones that come from the system itself and not from outside (like getting shot down from governments etc)
1) BTC never manage the transition from current status of toy/speculation bubble with wild up&downs to a stable currency used for real money things. People cash out and since everything to this point is "just running on faith" the faith is now gone, experiment over.

2) Bitcoins are supposed to be decentral but currently bitcoin exchange sites/bourses are still needed. They might become bigger and do all the evil things that paypal/banks have been accused of.

3) Bitcoins really become widely used: How will healthcare system, rents, public stuff like kindergarten etc be paid, without taxes and state?

knorke wrote: 3) Bitcoins really become widely used: How will healthcare system, rents, public stuff like kindergarten etc be paid, without taxes and state?

I recommend Neil Stephenson`s Snow Crash and The Diamond Age for a nice answer to that question.

BaNa wrote:I recommend Neil Stephenson`s Snow Crash and The Diamond Age for a nice answer to that question.

rather than suggest an entire book, why not take the time to summarize the point?

smoth wrote:

BaNa wrote:I recommend Neil Stephenson`s Snow Crash and The Diamond Age for a nice answer to that question.

rather than suggest an entire book, why not take the time to summarize the point?

Nation states fail and dwindle because of tax fallout caused by an anonymised currency and online banking system, leading to a dystopian future for many where many of the roles states formerly served get taken over by different actors, such as large corporations in the first book and culturally-organized entities in the second book. I urge you all to read the books though, especially Diamond Age.

edit: yes I brought enough for the whole class, mister

Let's get back to where this thread started.

Who here followed varikonniemi's example and got themselves some mining equipment? Who did GPU, and who went ASICS? Did varikonniemi get more equipment?

Is it still worth the investment to start doing in now? (Without all the future world saving/destroying stuff plz).

If you want to be in the game now, here are some of the options:

• Invest $1000+ for a full bitcoin (or buy smaller denominations, you late-adopter sucker)
• Buy a mining rig. Preferably the best one to even have a running chance - priced at $12,995.00 plus VAT and shipping plus a 1200W+ PSU. Oh and it might not ship until 14Q2, at which point it could be significantly less profitable (because you can't accurately estimate mining difficulty) or downright useless because the bubble burst before you got it.
• If you're crazy, you could trade bitcoin derivatives. Crazy I say because people have gotten scammed by mtgox. Who is to say you will not get tricked by some pimple-faced nerd on the other side of the world?

Then finally, hope to god the bitcoin price doesn't go on free fall back to $100 (or lower), lest you never see ROI.

If you do somehow manage to turn a profit on your "investment", your country's tax man will want a cut too, because they know all about bitcoins by now.

Well, there you have it... bitcoin is dead:
http://www.theregister.co.uk/2013/12/05 ... g_bitcoin/

cheesecan, if you bought less than 24 hours ago you would have made 25% ROI, as i did.

Wait for the next correction and try to time the bottom. There is not a more fool proof method to get involved in Bitcoin right now.

Or you may believe Bitcoin is dead, and liquidate your precious coins to stronger hands. Last time i hinted against doing this, we were at ~100. I will return to this argument once we break 10k and provide some more details why.

I see a Gambling man needing players to gamble against;
Causing the same benefits and the same problems as it often has in the past I think. What happened to the all-war-ending Bitcoin crusade?
I think every gambling-game has an addictive, and thus potentially dangerous, element within it. Be advised.

As i already have posted to this thread: the only gambling i have found addictive is betting on the markets in Bitcoin. Even if gambling was the only thing Bitcoin was used for, it would be an excellent instrument of gamble.

varikonniemi wrote:As i already have posted to this thread: the only gambling i have found addictive is betting on the markets in Bitcoin. Gambling usually by definition means that you are partaking in a corrupted game, with bad odds. In Bitcoin it is the free markets you are up against. The fairest game ever, and one where skill, not luck, determines how well you succeed.

I think the thing stopping most here from entering this game is the risk of it ending at some point. And even though the prospects of 'investing' seem so good I can't bring myself to sinking 1k into it.

You must be looking at early retirement in the Bahama's if it hits 10k /bc, right?

If you don't have a grand to sink into it, why won't you invest a hundred $?

I will never retire. Better to burn out than fade away. Just make sure your work is something you love. I would literally go to prison before being forced to work something i don't approve. Like modern banking. Dem leeches.

varikonniemi wrote:If you don't have a grand to sink into it, why won't you invest a hundred $?

I will never retire. Better to burn out than fade away. Just make sure your work is something you love. I would literally go to prison before being forced to work something i don't approve. Like modern banking. Dem leeches.

The 'investment' would be smaller but relatively the same amount. There is another problem than the amount though. I have my doubts about the value of bitcoin increasing to the heights that you seem to think they will go and I think it would be a really screwed up thing if it would. This is not how money should be made (pun not intended, but welcome nonetheless :D)

So by what means should money be made? I advocate for the free markets deciding the value, what do you advocate for?

Bitcoin is the first technology since ever which allows for the people to take back the control from the leeching banking class.

Bitcoin is the first technology since ever which allows for the people to take back the control from the leeching banking class.

Mr. Colt. would disagree.