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coilman
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pacomartin
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February 25th, 2014 at 10:10:49 AM permalink
“It hasn’t shaken my trust in Bitcoin, but it has shaken my trust in bitcoin exchanges.”

"In bitcoin exchanges, the currency’s value has fallen to about $470 from $550 in the past few hours, a figure already down more than 50 per cent on the price of $1,200 per bitcoin reached on Mt. Gox three months ago."

At this minute, it is back up to $512.


It's hard to trust a currency and none of the exchanges.
geoff
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February 25th, 2014 at 10:13:56 AM permalink
“It hasn’t shaken my trust in Bitcoin, but it has shaken my trust in bitcoin exchanges.”
really means
"I still have money in Bitcoin and am trying to cash out before they become worth nothing."
Zcore13
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February 25th, 2014 at 10:21:33 AM permalink
I don't think it will go to nothing unless every exchange closes or the Government shuts it down. Criminals are still going to want to use it until it's dying breath and because they are using dirty money to start with anyway, they don't care that much how much the price is. It's a way to transact business without tracking. If/when Bitcoin disappears a new currency will pop up and it too most likely will be corrupt, but still usable by those that take advantage of it.


ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
bigfoot66
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February 25th, 2014 at 11:51:52 AM permalink
Quote: pacomartin

The fact that our revolution was founded primarily on tax avoidance is not lost on many advocates. Certainly many people view tax avoidance as a victimless crime.



Some people think that some of what the government does is evil and tax avoidance is thus honorable.
Vote for Nobody 2020!
geoff
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February 25th, 2014 at 11:57:26 AM permalink
If a person thinks some of what the government does is wrong then they should vote. Picking and choosing taxes on the basis of not liking them is wrong.
Canyonero
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February 25th, 2014 at 12:03:28 PM permalink
The highest volume Bitcoin Exchange shutting down and the rate taking a dent of less than 20%. In relation to the swings we saw in the past this is a sign of stability if you ask me. I should finally buy some.

As to it being the currency of criminals - well I see it more as the currency of freedom. Here is the funny part about some of the political spectrum represented on this forum: They love to hate on the government, but at the same time, they feel that everybody must subject to the government's control or be labelled a terrorist or criminal.
1arrowheaddr
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February 25th, 2014 at 12:23:05 PM permalink
So now "they" have taken down Mt. Gox. Will the hackers/criminals/regulators et. al. now have more time to devote to taking down an ever shrinking number of credible exchanges?
bigfoot66
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February 25th, 2014 at 12:34:03 PM permalink
Quote: geoff

If a person thinks some of what the government does is wrong then they should vote. Picking and choosing taxes on the basis of not liking them is wrong.



Yes, because if a majority of people vote a certain way then that makes it morally right!
Too bad there aren't thousands of examples of blatanly evil things done by government
with the will of the majority that I might cite here, and you know it would be right to resist.

Instead I will just say that except for maybe on the most local levels, voting sucks and is a
complete waste of time on a practical level. I also don't buy your moral argument which boils
down to "If you don't vote you can't complain!" In fact the opposite is true. If play the game,
you consent to the rules. I don't think popular whim ought to dictate who the government
kills and cages, and what should be stolen from some people and given to others, but I have
to get involved in this quadrennial low grade war over who gets to cut up the stolen loot?

The folks on South Park put it best:

http://www.youtube.com/watch?v=Pji_IX-UacM
Vote for Nobody 2020!
RogerKint
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February 25th, 2014 at 12:43:37 PM permalink
Best episode over. That failed half animal, half human whispering "kill me" gets me every time.

I read somewhere that every potus except Grover Cleveland was closely related. Not to mention, Dubya and Kerry who were supposedly part of the same college secret organization.
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geoff
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February 25th, 2014 at 12:57:30 PM permalink
There are a lot of environmentalists who disagree with the way corporations are allowed to do business. Should they get to not pay taxes. Some vegetarians think the government allowing the slaughter of animals is immoral. Should they get to not pay taxes. If people get to opt out of taxes because they didn't get their way then how would taxes work at all?
PBguy
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February 25th, 2014 at 1:54:16 PM permalink
Quote: coilman

Is the time right to get out?

http://www.thestar.com/business/2014/02/25/major_online_bitcoin_exchange_mt_gox_vanishes.html



No I'd say the right time to get out was 2 months ago.

The question is whether this latest problem signals the end or just a bump in the road for Bitcoin. Without viable and trustworthy exchanges does Bitcoin have a future?
bigfoot66
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February 25th, 2014 at 1:59:39 PM permalink
Quote: geoff

There are a lot of environmentalists who disagree with the way corporations are allowed to do business. Should they get to not pay taxes. Some vegetarians think the government allowing the slaughter of animals is immoral. Should they get to not pay taxes. If people get to opt out of taxes because they didn't get their way then how would taxes work at all?



Great question. Maybe, just maybe, it is possible that human beings can interact and
coexist without stealing money from each other. Maybe security can be provided the same
way that Mercedes, Snickers Bars, and iPhones are provided....Through free people
trading goods and services.

EDIT: If you don't like that answer, consider that the top marginal tax rate in CA is 13%,
and the top federal rate is 39%. So a wealthy man pays more than half of his income
in income taxes alone, ignore all the other taxes he has to pay. Can't we agree that
It is immoral to take more than half of someone's income, even if it is a really really rich
guy AND it passes with a wide majority of voters?
Vote for Nobody 2020!
pacomartin
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February 25th, 2014 at 2:00:27 PM permalink
Quote: RogerKint

I read somewhere that every potus except Grover Cleveland was closely related. Not to mention, Dubya and Kerry who were supposedly part of the same college secret organization.



This is a myth. In reality most of use are much more "closely" related than we think, it is simply that most of us don't know our own genealogy. If someone becomes POTUS, the genealogists all go into overtime.

The fact that President Obama is descended from a medieval English king simply means that he is part English. Although many people don't know their own bloodline, it is nearly impossible to be English and not be descended from a medieval king. But many people come through illegitimate lines.
1arrowheaddr
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February 25th, 2014 at 2:06:32 PM permalink
On average each person has one million 10th cousins.
Zcore13
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February 25th, 2014 at 2:26:48 PM permalink
Quote: PBguy

No I'd say the right time to get out was 2 months ago.

The question is whether this latest problem signals the end or just a bump in the road for Bitcoin. Without viable and trustworthy exchanges does Bitcoin have a future?



Having a viable exchange is only half the problem. The other half is that's the Bitcoin itself is just basically Monopoly money, a baseball card or a Chuck E Cheese token. They are all backed by nothing. They are worth what some clown will pay for them.

Why are Bitcoins worth so much right now? Because criminals need them to conduct their business with far less chance of getting caught than cash. But that will and is changing. A few weeks ago a HUGE player in the Bitcoin scene ( Charlie Shrem) was arrested and charged with money laundering and operating an unlicensed money transmitting business. He used his Bitcoin exchange to sell over $1,000,000 in bitcoins to Silk Road members so that they could then use the bitcoins to purchase drugs, stolen merchandise and other illegal items. If you're not familiar with Silk Road, look it up. It's commonly referred to as the "Amazon of illegal drugs and activities".

ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
pacomartin
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February 25th, 2014 at 2:37:02 PM permalink
Quote: 1arrowheaddr

On average each person has one million 10th cousins.


Recent research leads biologists to believe that everyone of European descent in the entire world has a common ancestor who lived roughly 1000 years ago. So any two Europeans may all be 40th cousins or closer.


Probably the most closely related group of people on Earth are the 320,000 Icelanders. They even have an app for their phones so that if they are tempted to go home with someone after drinking in a bar, it tells you how closely you are related to the other person.
AcesAndEights
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February 25th, 2014 at 2:45:35 PM permalink
Quote: Zcore13

Having a viable exchange is only half the problem. The other half is that's the Bitcoin itself is just basically Monopoly money, a baseball card or a Chuck E Cheese token. They are all backed by nothing. They are worth what some clown will pay for them.


Sounds like any government-issued currency. We are all the clowns.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
Buzzard
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February 25th, 2014 at 2:49:51 PM permalink
Gee, I sold my Beanie Baby collection to buy Bit coins, and now this !
Shed not for her the bitter tear Nor give the heart to vain regret Tis but the casket that lies here, The gem that filled it Sparkles yet
geoff
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February 25th, 2014 at 2:51:18 PM permalink
Quote: Buzzard

Gee, I sold my Beanie Baby collection to buy Bit coins, and now this !


The good news is that if you sold your Beanie Baby collection you could only buy like a tenth of a bit coin so you aren't out much.
Buzzard
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February 25th, 2014 at 2:57:05 PM permalink
Bit Coins Bubblenomics Both start with a B

http://boingboing.net/2013/06/23/bubblenomics-how-the-beanie-b.html
Shed not for her the bitter tear Nor give the heart to vain regret Tis but the casket that lies here, The gem that filled it Sparkles yet
Zcore13
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February 25th, 2014 at 4:00:47 PM permalink
Quote: AcesAndEights

Sounds like any government-issued currency. We are all the clowns.



Unfortunately, you've been watching too many conspiracy theory shows or believing everything you hear. The U.S. dollar is backed by the United States Tax Code and taxes. It's one of the most stable and backed currencies in the world. Many Countries currencies are backed by just the basic promise of their Government that the money is good.

Why do other Countries do business with us and accept our credit? Because our money is backed by the taxes we all pay.

Why is the U.S credit rating AA+ (The second highest possible rating in the world)? Because our money is backed by taxes.

China has a lower credit rating. Russia has a lower credit rating. There's probably only a dozen Countries in the world with a higher credit rating.

Don't believe everything you hear or read. Most of it's not true.


ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
AcesAndEights
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February 25th, 2014 at 4:06:55 PM permalink
Quote: Zcore13

Unfortunately, you've been watching too many conspiracy theory shows or believing everything you hear. The U.S. dollar is backed by the United States Tax Code and taxes. It's one of the most stable and backed currencies in the world. Many Countries currencies are backed by just the basic promise of their Government that the money is good.

Why do other Countries do business with us and accept our credit? Because our money is backed by the taxes we all pay.

Why is the U.S credit rating AA+ (The second highest possible rating in the world)? Because our money is backed by taxes.

China has a lower credit rating. Russia has a lower credit rating. There's probably only a dozen Countries in the world with a higher credit rating.

Don't believe everything you hear or read. Most of it's not true.


ZCore13


The US dollar is backed by the US government saying it is valuable. That promise does carry a lot of weight, you are correct. But it is not "backed" by any physical asset. It is worth exactly what someone will give you for it. Just like BitCoin.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
Buzzard
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February 25th, 2014 at 4:09:22 PM permalink
Just what resources and tax venues does Mister Bit have ? About the same as Mister Beanie Baby ?
Shed not for her the bitter tear Nor give the heart to vain regret Tis but the casket that lies here, The gem that filled it Sparkles yet
pacomartin
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February 25th, 2014 at 4:18:09 PM permalink
Quote: Zcore13

Having a viable exchange is only half the problem. The other half is that's the Bitcoin itself is just basically Monopoly money, a baseball card or a Chuck E Cheese token. They are all backed by nothing. They are worth what some clown will pay for them.



For there is nothing either good or bad, but thinking makes it so.- William Shakespeare

Value is always a perceived notion. Currency is given it's value primarily because it is accepted for tax payments.

There are four basic properties of bitcoin that should be considered:
(1) It is anonymous (but so is cash)
(2) It is anonymous and does not need to be transported (unlike cash)
(3) It's value is not affected by government policy
(4) It is extremely volatile

But it suffers from one great weakness. While counterfeiting is a concern for all currency, in reality the rumors of counterfeit do far more damage than actual counterfeit banknotes. With bitcoin, the rumor mill is much more difficult to control.

Personally, I still believe most people invest in bitcoins because of the volatility. They are hoping to win on a big sweep.

I also still think some government (like Switzerland) can create anonymous electronic currency that is not volatile. Although there may be some push back from other governments, there are so many people that will benefit, that other governments will be unable to crush it.
RogerKint
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February 25th, 2014 at 5:01:38 PM permalink
Quote: AcesAndEights

The US dollar is backed by the US government saying it is valuable. That promise does carry a lot of weight, you are correct. But it is not "backed" by any physical asset. It is worth exactly what someone will give you for it. Just like BitCoin.



Isn't the USD valuable because much of the middle east's oil can only be purchased using USD? Making the dollar essentially backed by oil. I read this was the reason for both of our wars in Iraq. Slowly realizing that I need to swap my reading material for Paco's.
100% risk of ruin
AcesAndEights
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February 25th, 2014 at 5:26:22 PM permalink
Quote: RogerKint

Isn't the USD valuable because much of the middle east's oil can only be purchased using USD? Making the dollar essentially backed by oil. I read this was the reason for both of our wars in Iraq. Slowly realizing that I need to swap my reading material for Paco's.


I had actually never heard that. I would be very interested to read a source on that fact.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
pacomartin
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February 25th, 2014 at 5:40:01 PM permalink
Quote: RogerKint

Isn't the USD valuable because much of the middle east's oil can only be purchased using USD? Making the dollar essentially backed by oil. I read this was the reason for both of our wars in Iraq. Slowly realizing that I need to swap my reading material for Paco's.



Petrodollar warfare is the reference you are looking for.

Essentially you are correct. The theory is that nations must maintain supplies of dollars to purchase oil, regardless of economic conditions in the USA.

In 2007 Iranian President Mahmoud Ahmadinejad said that the depreciating U.S. dollar, is a “worthless piece of paper.”

In 2008, Iran completely stopped conducting oil transactions in U.S. dollars in a concerted attempt to reduce the power of the petrodollar.
Zcore13
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February 25th, 2014 at 6:25:42 PM permalink
Quote: pacomartin

Petrodollar warfare is the reference you are looking for.

Essentially you are correct. The theory is that nations must maintain supplies of dollars to purchase oil, regardless of economic conditions in the USA.

In 2007 Iranian President Mahmoud Ahmadinejad said that the depreciating U.S. dollar, is a “worthless piece of paper.”

In 2008, Iran completely stopped conducting oil transactions in U.S. dollars in a concerted attempt to reduce the power of the petrodollar.



And that comical attempt by Ahmadinejad did nothing.

Here's a few more questions for those that think the U.S. dollar is backed by nothing and worth the same as bitcoin.

Why has the U.S. Stock Market continued to go up and to record highs? Because foreign investors keep buying up U.S. assets. Foreign investors own over 25 TRILLION dollars worth of U.S. assets and has been increasing in double digit percentages for a few years. And they are not buying them on the cheap. Sales prices for U.S. companies are through the roof because the competition to buy them is strong.

Who owns all the $100 bills produced by the U.S. Treasury? Not us. There are over 900 billion dollars worth of $100 bills in circulation. Anywhere from half to two thirds don't live in the U.S. As fast as we can put them in circulation, they are exchanged for by foreign companies and individuals. Who holds some of the biggest stashes of $100 bills? Russia, Korea and Vietnam. Why? They are investing in their future. When they just came out with the new design, the marketing material produced by the Treasury was not to tell U.S. citizens about it's features. The material was printed in 26 different languages to attract even more investment into it.

Stop fooling yourself and thinking Bitcoin would have any value at all if criminals didn't take it as their own. Yes, it's possible it will survive and skirt around the system, but more likely in a few years a couple of Bitcoins will get you a game at Chuck E Cheese.

ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
gpac1377
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February 25th, 2014 at 6:53:42 PM permalink
Quote: Zcore13

Here's a few more questions for those that think the U.S. dollar is backed by nothing and worth the same as bitcoin.


Zcore, are you arguing that the dollar is actually a good store of value, or merely that it's better than bitcoin?
"Scientists tell us that the fastest animal on earth, with a top speed of 120 feet per second, is a cow that has been dropped out of a helicopter."
pacomartin
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February 25th, 2014 at 7:03:07 PM permalink
Quote: Zcore13

Who owns all the $100 bills produced by the U.S. Treasury? Not us. There are over 900 billion dollars worth of $100 bills in circulation. Anywhere from half to two thirds don't live in the U.S. As fast as we can put them in circulation, they are exchanged for by foreign companies and individuals. Who holds some of the biggest stashes of $100 bills? Russia, Korea and Vietnam. Why? They are investing in their future.



Actually it is probably well over 80% of the c-notes in foreign circulation.

According to US government CPI data $100 in 2014 is equivalent to $15.70 in 1969 (when the final decision was made to never produce any banknotes higher than $100 and destroy all the ones in circulation when they were turned in to banks).
In 1969 the federal reserve was circulating roughly $250 per capita in currency, and an estimated 5% was circulating overseas.

But with 4.3 billion people in Asia, there is going to be some push to stop relying on the currency of 317 million people in the USA, or 336 million people in the Eurozone.

AcesAndEights
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February 25th, 2014 at 9:18:42 PM permalink
Quote: Zcore13

Quote: pacomartin

Petrodollar warfare is the reference you are looking for.

Essentially you are correct. The theory is that nations must maintain supplies of dollars to purchase oil, regardless of economic conditions in the USA.

In 2007 Iranian President Mahmoud Ahmadinejad said that the depreciating U.S. dollar, is a “worthless piece of paper.”

In 2008, Iran completely stopped conducting oil transactions in U.S. dollars in a concerted attempt to reduce the power of the petrodollar.



And that comical attempt by Ahmadinejad did nothing.

Here's a few more questions for those that think the U.S. dollar is backed by nothing and worth the same as bitcoin.

Why has the U.S. Stock Market continued to go up and to record highs? Because foreign investors keep buying up U.S. assets. Foreign investors own over 25 TRILLION dollars worth of U.S. assets and has been increasing in double digit percentages for a few years. And they are not buying them on the cheap. Sales prices for U.S. companies are through the roof because the competition to buy them is strong.

Who owns all the $100 bills produced by the U.S. Treasury? Not us. There are over 900 billion dollars worth of $100 bills in circulation. Anywhere from half to two thirds don't live in the U.S. As fast as we can put them in circulation, they are exchanged for by foreign companies and individuals. Who holds some of the biggest stashes of $100 bills? Russia, Korea and Vietnam. Why? They are investing in their future. When they just came out with the new design, the marketing material produced by the Treasury was not to tell U.S. citizens about it's features. The material was printed in 26 different languages to attract even more investment into it.

Stop fooling yourself and thinking Bitcoin would have any value at all if criminals didn't take it as their own. Yes, it's possible it will survive and skirt around the system, but more likely in a few years a couple of Bitcoins will get you a game at Chuck E Cheese.

ZCore13


I exaggerated in my initial statement; sorry. I did not mean to imply that the US dollar is worth "the same" as bitcoin. The point I was trying to make (poorly) is that the US dollar is powerful and stable because anyone will take it. That is the only reason it is worth anything - other than that it is just a piece of paper. As more people accept Bitcoins (The D takes them!), they will stabilize and become a more viable currency.

I've never owned bitcoins, but I think cryptocurrency is here to stay.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
Zcore13
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February 25th, 2014 at 9:28:28 PM permalink
I don't think there is any doubt there will be digital currency in the future. I just don't think it will be Bitcoin.

ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
djatc
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February 26th, 2014 at 4:34:22 AM permalink
I don't like the new $100's because they are too crisp and the thing in the middle clumps up multiple $100s. Since I am a baller I carry old benji's and strut my stuff throughout casinos.
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boymimbo
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February 26th, 2014 at 6:55:33 AM permalink
Whoops!

Quote: CBC News

In yet another blow to virtual currency bitcoin, a major bitcoin exchange has gone bust after secretly racking up catastrophic losses, other virtual currency companies said Tuesday.

Tokyo-based Mt. Gox posted an update on its website on Tuesday, saying a "decision was taken to close all transactions for the time being."

Mt. Gox had imposed a withdrawal ban earlier this month after detecting what it called "unusual activity" and then on Tuesday, its website went dark. The new message posted later in the day said: "We will be closely monitoring the situation and will react accordingly."

----- You want the truth! You can't handle the truth!
bigfoot66
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February 26th, 2014 at 7:36:19 AM permalink
Quote: Zcore13

The U.S. dollar is backed by the United States Tax Code and taxes. It's one of the most stable and backed currencies in the world.



Its true that the value of the dollar is bolstered by taxes. What this means is that the government will only accept payment of taxes in $$ (and for that matter will only enforce civil contract judgements in $$$).
Vote for Nobody 2020!
Zcore13
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February 26th, 2014 at 8:21:15 AM permalink
Mt Gox "lost" 744,408 Bitcoins. They have no idea where they went.

Now people want the Government to do something about it. Funny how one of the big talking points and features of Bitcoin is no Government regulation but now because they got burned on it, there should be Government regulation...


ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
geoff
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February 26th, 2014 at 8:23:55 AM permalink
People getting into bitcoin were doing it as an investment. Really all they were doing was gambling. Putting all their money into a high risk vehicle with no government backing or security. I have zero sympathy for the people who lost out just like I have zero sympathy for the people who lose it all on the craps table.
pacomartin
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February 26th, 2014 at 9:30:59 AM permalink
Quote: geoff

I have zero sympathy for the people who lost out just like I have zero sympathy for the people who lose it all on the craps table.



Dr Housing Bubble had an interesting example

Consider a $1,000,000 home purchase you and have a 25 percent down payment ($250,000).
You can go with a 10-year ARM:
10 year arm $3,428.38 / month with $21.5K closing fee (3.625% and 1.5 points)
3 year interest only $1,953 / month with $17.5K closing (3.125% and 1.5 points) for 3-years.

If you have little or no down payment, it could cost you $2K per month to buy a $300K house.

Do you think people who engage in these kind of transactions are smart? Do you have any sympathy for them if their million dollar house loses $250K in value over those three years, and now they must finance a house that is only worth $750K?
geoff
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February 26th, 2014 at 10:02:09 AM permalink
I don't have any real sympathy for them no and some of them are smart and some of them are not too bright. If you are buying a house as a living space then buy something you can afford where the possible loss in value isn't as high impacting. If you are buying the house as an investment then like all investments it carries the risk of fluctuating.
AceTwo
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February 26th, 2014 at 1:00:47 PM permalink
Quote: Zcore13

I don't think there is any doubt there will be digital currency in the future. I just don't think it will be Bitcoin.

ZCore13


I have no doubts either that there will be a digital currency in the future.
It could be bitcoin though, the question is what odd do you give it to be the one.
Probably some big conglomarate will try also, the likes of google, apple with the backing of a big bank or a consortium of a few of them.
But you never know, another start-up might come up with a better solution.

I saw an analogy of bitcoin with the internet .com bubble of the late 90's.
In the beginning, early 90s there was very litte interest and internet companies where underavalued.
Then at late 90s everyone went crazy and the whole thing became a bubble with most of them disapprearing.
But there where a few good ones (ie google) who had a product that everyone needed but did not know at the time who became very sucessful a few years later.
The same with bitcoin. We are probably still at bubble phase going towards the collapse phase.
But it could rebounce steadily in the future if the product is needed and it offers what everyone needs but does not know at this time.
But of course in this case a different 'bitcoin' might come up and prevail.

I would not put any money now on something so volatile which shows signs that it goes through the collapse phase.
Buzzard
Buzzard
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February 26th, 2014 at 1:08:36 PM permalink
Gee, I wish this email I got today would have been in Bitcoins instead of dollars.

I decided to bequeath the sum of $10,000,000.00 to you (Contact my lawyer Email: clarkdav@rogers.com)
Inbox
x
Higgins, James James.Higgins@disney.com

12:57 PM (1 hour ago)

to


 

Attn; Beneficiary

26th of February 2014

Greetings,

My name is Mrs. Jessica Smith, 72 yrs old widow. I got your contact information from a website. I have decided to donate what I have to you. I was diagnosed with cancer of lungs few years ago, immediately after the death of my husband who has left me everything he worked. I have been inspired by God to donate my inheritance to you for the good work of God and charity purpose, i am doing this because my family are unbelievers and I will not allow them inherit this money for their own selfishness. I have come to find out that wealth acquisition without Jesus Christ is a vanity. My late husband was very wealthy and after his death, I inherited all his business and wealth. Based on the doctors reports that i might not live up to three months. My late husband family intentions is to allow me die in this condition because I do not have a child, this have made me source for a Godly person abroad who will make this claim of $10 Million dollars which is deposited in a security firm. I decided to bequeath the sum of $10,000,000.00 to you. If you are much more interested, Contact Mr. David Clark with this specified email: clarkdav@rogers.com TELL: +447031950706. Inform him you are the recipient i have bequeathed $10,000,000.00 my personal reference number law/chamber/solicitors/je/ws/ WILL/98390-012. I have also notified him that I am bequeathing that amount to you by my personal decision. I will appreciate your utmost confidentiality in this matter until the task is accomplished as I don't want anything that will jeopardize my last wish.

Warmest Regards,

Mrs. Jessica Smith

Endeavor to Contact My Lawyer Email: clarkdav@rogers.com
Shed not for her the bitter tear Nor give the heart to vain regret Tis but the casket that lies here, The gem that filled it Sparkles yet
AxiomOfChoice
AxiomOfChoice
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February 26th, 2014 at 1:09:04 PM permalink
Quote: AceTwo

I have no doubts either that there will be a digital currency in the future.
It could be bitcoin though, the question is what odd do you give it to be the one.
Probably some big conglomarate will try also, the likes of google, apple with the backing of a big bank or a consortium of a few of them.
But you never know, another start-up might come up with a better solution.



There is no way, at least not in the US. The federal government will crush any attempt to introduce a serious currency that is not their own. It is very important to them that they can control the money supply. They are not going to bother with small-time stuff, but, once it grows to any reasonable size, they will shut it down.
pacomartin
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February 27th, 2014 at 11:35:16 AM permalink
Quote: AxiomOfChoice

There is no way, at least not in the US.



Government's would like very much to have a digital currency for routine purchases. The cost of printing bills, minting coins, making change, robberies, guarding vaults, etc. is actually astronomical.

But it would be government currency, not that of a corporation. And they don't want people routinely passing around large sums of money.

Canada is trying to be world leader in digital currency.


Sweden has reduced the number of 1000 krona (=$154) notes to roughly 1 per capita. They are still planning to print a new version in 2015 with their new series, but they haven't said how many they are going to print.



Sweden does not currently have a 200 krona banknote (=$30). I am not sure what is used in their ATM's as 100 krona notes are awfully small value for such an expensive country. I presume mostly they are stocked with the 500 krona note.

In any case the number of ATM's per capita is closer to that of a 3rd world nation, and a small percentage of that of the USA. In addition, only one major bank handles currency transactions at teller windows.
AxiomOfChoice
AxiomOfChoice
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February 27th, 2014 at 12:37:11 PM permalink
Quote: pacomartin

Government's would like very much to have a digital currency for routine purchases. The cost of printing bills, minting coins, making change, robberies, guarding vaults, etc. is actually astronomical.

But it would be government currency, not that of a corporation. And they don't want people routinely passing around large sums of money.



Yes, that was my point. It will not be a currency that's not controlled by the federal government.
Zcore13
Zcore13
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February 27th, 2014 at 12:53:33 PM permalink
I could see a Google or Paypal making it happen. They are big enough to support it and trustworthy enough to allow people to be confident in the system.

ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
AxelWolf
AxelWolf
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February 28th, 2014 at 6:54:06 AM permalink
Quote: djatc

I don't like the new $100's because they are too crisp and the thing in the middle clumps up multiple $100s. Since I am a baller I carry old benji's and strut my stuff throughout casinos.

more like bawling your eyes out the other day after realizing even lucky Asians can you can run bad.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
RicardoEsteban
RicardoEsteban
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February 28th, 2014 at 11:08:22 AM permalink
Quote: Zcore13

I could see a Google or Paypal making it happen. They are big enough to support it and trustworthy enough to allow people to be confident in the system.

ZCore13



Everybody hates Paypal.
AxelWolf
AxelWolf
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February 28th, 2014 at 11:24:23 AM permalink
Quote: RicardoEsteban

Everybody hates Paypal.

I don't hate Paypal, but they are to restrictive and the fees can be annoying.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
treetopbuddy
treetopbuddy
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March 16th, 2014 at 12:14:10 PM permalink
The Feds hate peer-to-peer transactions. They (whoever the f*** that is) are sicking the IRS on the digital currency…….a new war…..the war on BitCoins!
Each day is better than the next
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