Author Topic: Does anyone here use Bitcoins? (Read 598487 times)

tomos · « **Reply #425 on:** December 17, 2013, 03:45 PM »

Why Bitcoin Will Never Be a Currency—in 2 Charts - Matthew O'Brien

More argument.
-Arizona Hot (December 17, 2013, 11:50 AM)

I'm actually a bit stunned how bad that article is. It's from Matthew O'Brien, a senior associate editor at The Atlantic covering business and economics. He doesnt even acknowledge that there are different schools of economic thought. I'm even wondering was the guy just trying to troll a bit, and upset as many Bitcoin fans as possible - which would actually make it a very amusing article.
Funny how the world is sometimes...

wraith808 · « **Reply #426 on:** December 17, 2013, 04:16 PM »

^ I do see a lot more of what Renegade was on about before- how MSM and the powers that be seem to be in collusion with all of the FUD towards BC. That's just one of the more... obvious examples.

kilele · « **Reply #427 on:** December 20, 2013, 06:35 AM »

Amazing concept!
How could one make a site like donationcoder enabling donations with bitcoins ?
For example a download site for homebrew game developers which allowed payments / donations whenever someone downloads digital productions

TaoPhoenix · « **Reply #428 on:** December 20, 2013, 08:06 AM »

I'm actually a bit stunned how bad that article is. It's from Matthew O'Brien, a senior associate editor at The Atlantic covering business and economics. He doesnt even acknowledge that there are different schools of economic thought. I'm even wondering was the guy just trying to troll a bit, and upset as many Bitcoin fans as possible ...
-tomos (December 17, 2013, 03:45 PM)

Going sideways a bit, "trolls are trolls", but I don't want "senior associate editors at The Atlantic covering business and economics" ... doing the trolling.

I have enough trouble getting my news cleanly, with "known troll rags" out there muddying the picture, without what was supposed to be a Grade A source jumping in!

Mark0 · « **Reply #429 on:** December 20, 2013, 08:12 AM »

How could one make a site like donationcoder enabling donations with bitcoins ?
For example a download site for homebrew game developers which allowed payments / donations whenever someone downloads digital productions
-kilele (December 20, 2013, 06:35 AM)

The simplest way would be to just show an address, either in plain text or as a QR code. People scan the code in their wallet application, send, done: bitcoins are delivered.
Blockchain.info offer a simple donation button maker, ready to be cut & pasted on a web page, that generate a different address every time (to complicate things a bit to whom want to try to see how much bitcoins the receiver have accumulated) and display a QR code.

Or, a payment processor like BitPay can be used, to let users pay in bitcoins and receive the corresponding amount in the legal tender of choice, with a minimal fee (1% per transaction or fixed 30$ monthly, if I remember correctly).

Mark0 · « **Reply #430 on:** December 20, 2013, 10:00 AM »

Andreas Antonopoulos on Bitcoin the technology and its social implications:

tomos · « **Reply #431 on:** December 20, 2013, 10:54 AM »

The videos are great Mark0

Here's one Ren posted elsewhere (basement)
"Bitcoin Poised To Make SIM Cards Obsolete"

Mark0 · « **Reply #432 on:** December 20, 2013, 11:08 AM »

Great. Seeing how spaces on smartphones is at premium, and how the manufacturers try to come up & push with smaller and smaller SIMs format, they should embrace something like this.

Except Apple: they show no love for Bitcoin probably because they are afraid for their next iPay-system-thing...

kilele · « **Reply #433 on:** December 20, 2013, 03:00 PM »

How could one make a site like donationcoder enabling donations with bitcoins ?
For example a download site for homebrew game developers which allowed payments / donations whenever someone downloads digital productions
-kilele (December 20, 2013, 06:35 AM)

The simplest way would be to just show an address, either in plain text or as a QR code. People scan the code in their wallet application, send, done: bitcoins are delivered.
Blockchain.info offer a simple donation button maker, ready to be cut & pasted on a web page, that generate a different address every time (to complicate things a bit to whom want to try to see how much bitcoins the receiver have accumulated) and display a QR code.

Or, a payment processor like BitPay can be used, to let users pay in bitcoins and receive the corresponding amount in the legal tender of choice, with a minimal fee (1% per transaction or fixed 30$ monthly, if I remember correctly).

-Mark0 (December 20, 2013, 08:12 AM)

Thanks for the information!
coinbase.com seems to me pretty easy to use, i'm not sure about exchanging bitcoins into dollars or euros

Renegade · « **Reply #434 on:** December 21, 2013, 08:53 PM »

Bitcoin = world reserve crypto currency
-Renegade (December 12, 2013, 07:32 AM)

I'm not sure I understand: what would being a 'world reserve crypto currency' involve?
I cant quite tie it in with the current definition of a reserve currency a la http://en.wikipedia....iki/Reserve_currency.
-tomos (December 12, 2013, 09:23 AM)

http://words.stevekl...ve-on-cryptocurrency

Near the end:

Basically, BTC is sort of the ‘world reserve currency’ of cryptocurrencies.

mouser · « **Reply #435 on:** December 23, 2013, 01:51 PM »

Economist Paul Krugman on why he's not a fan of bitcoin:

http://www.nytimes.c...s-and-barbarism.html

Mark0 · « **Reply #436 on:** December 23, 2013, 02:25 PM »

The growth of the Internet will slow drastically, as the flaw in "Metcalfe's law"--which states that the number of potential connections in a network is proportional to the square of the number of participants--becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's. - Paul Krugman, 1998

TaoPhoenix · « **Reply #437 on:** December 23, 2013, 02:55 PM »

The growth of the Internet will slow drastically, as the flaw in "Metcalfe's law"--which states that the number of potential connections in a network is proportional to the square of the number of participants--becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's. - Paul Krugman, 1998

-Mark0 (December 23, 2013, 02:25 PM)

Funny, but I in my Amateur Armchair vehemently disagree.

The Internet has "changed" 110 Trillion dollars of effect. How? Because the "viral" possibility of news means that things can't be shut up like the old days. So any topic ever, times the economic impact, explodes on the net. Just look at these BitCoin stories. I've seen forty of them. Barely one would have made "old news media".

Your choice of 88 other topics.

The Internet has exploded what Information means. And with Information comes Economics.

tomos · « **Reply #438 on:** December 23, 2013, 02:59 PM »

Economist Paul Krugman on why he's not a fan of bitcoin:

http://www.nytimes.c...s-and-barbarism.html
-mouser (December 23, 2013, 01:51 PM)

There's a lot of fundamentalism amongst the supporters of gold-backed currencies, and there's a lot of demonisation of fiat currencies out there too. Krugman's arguments against gold-backed currencies, while brief, are very persuasive. But to completely slate Bitcoin simply because it is a reaction to fiat currencies - or worse: simply because it is supported by people who are disillusioned with economics as practised today? That does not convince.

Bitcoin seems to derive its appeal from more or less the same sources [as of gold-backed currencies],
[...]

But don’t let the fancy trappings fool you: What’s really happening is a determined march to the days when money meant stuff you could jingle in your purse.

^ comes across simply as rhetoric. I'm disappointed.

On another note, he mentions regulation - imo, that's where things started to go really wrong (I believe around Reagan's time they started freeing the banks of regulations).

TaoPhoenix · « **Reply #439 on:** December 23, 2013, 03:08 PM »

No, but BitCoin as the King and the other CryptoMoney as the followers has a horrible feeling like the old early Dot-Com explosion - all this early activity, then it crashes for good, then it becomes a cheap 3rd rate joke.

See elsewhere for the allegation that the Chinese exchange faked BitCoin trading data in light of the Chinese Ban.

tomos · « **Reply #440 on:** December 23, 2013, 03:20 PM »

See elsewhere [...]
-TaoPhoenix (December 23, 2013, 03:08 PM)

ah go on - give us a link

If you read my posts on Bitcoin, you'll see that I'm very dubious about it, especially in the light of the glut of other crypto currencies - but that doesnt stop me being disappointed by the quality of Krugman's dismissal of it.

TaoPhoenix · « **Reply #441 on:** December 23, 2013, 03:38 PM »

See elsewhere [...]
-TaoPhoenix (December 23, 2013, 03:08 PM)
ah go on - give us a link
-tomos (December 23, 2013, 03:20 PM)

"Sometimes a clue is more tantalizing. If you didn't feel like a 12 second we search, then you didn't care about the issue anyway!" (This is often what I feel about obscure Linux news.)

: )

Mark0 · « **Reply #442 on:** December 23, 2013, 04:01 PM »

Funny, but I in my Amateur Armchair vehemently disagree.
-TaoPhoenix (December 23, 2013, 02:55 PM)

Yes, it was just to show that Krugman haven't exactly a good track record as a tech prophet!

SeraphimLabs · « **Reply #443 on:** December 24, 2013, 05:29 PM »

Heads up for those looking at Dogecoin.

It originated as a joke, and has since gone viral due to its association with the popular doge meme.

Although it is showing explosive growth, it is known that early adopters mined abnormally large shares of the coins that they are now seeking to unload. The hype we are seeing may be a pump and dump attempt.

At the same time, it has a much larger trading pool than most other cryptocurrencies and might stick around because of its recognizable branding.

If you really want to get into it, mine for it instead of buying it. That way if this is a bubble or a scam you don't lose any money.

Stoic Joker · « **Reply #444 on:** December 24, 2013, 07:38 PM »

The mining window is closing as it is getting increasingly difficult to do (unless you have really serious dedicated hardware). When I first started I was getting over 10,000 coins a day ... Now I'm lucky to break 100.

TaoPhoenix · « **Reply #445 on:** December 25, 2013, 12:32 AM »

The mining window is closing as it is getting increasingly difficult to do (unless you have really serious dedicated hardware). When I first started I was getting over 10,000 coins a day ... Now I'm lucky to break 100.
-Stoic Joker (December 24, 2013, 07:38 PM)

Bingo StoicJoker.

That's the big flaw that keeps bothering me. "Look, here's a new crypto-currency and only a hundred people know about it! Nice advantage to us! Then later when it gets popular the algo will slow down and no one can get much more!"

Reminds me of the day when I cared about Magic the Gathering and bought a pizza with two Sengir Vampires!

(The clerk made a note of the sale and said he would pay back his register.)

Arizona Hot · « **Reply #446 on:** December 26, 2013, 09:31 PM »

Does anyone here use Bitcoins?

Buy This House ... in Bitcoin

Arizona Hot · « **Reply #447 on:** December 26, 2013, 09:35 PM »

The mining window is closing as it is getting increasingly difficult to do (unless you have really serious dedicated hardware). When I first started I was getting over 10,000 coins a day ... Now I'm lucky to break 100.
-Stoic Joker (December 24, 2013, 07:38 PM)

Bingo StoicJoker.

That's the big flaw that keeps bothering me. "Look, here's a new crypto-currency and only a hundred people know about it! Nice advantage to us! Then later when it gets popular the algo will slow down and no one can get much more!"

Reminds me of the day when I cared about Magic the Gathering and bought a pizza with two Sengir Vampires! (The clerk made a note of the sale and said he would pay back his register.)
-TaoPhoenix (December 25, 2013, 12:32 AM)

But how much were those bitcoins worth then and how much is the 100 worth now?

Stoic Joker · « **Reply #448 on:** December 26, 2013, 10:31 PM »

If I'm reading the page right, each coin is worth $0.00057 USD ... So I'll go with not friggin much.

But then again I know less about currency trading than my cat knows about canasta.

Arizona Hot · « **Reply #449 on:** January 02, 2014, 01:38 AM »

Butterfly Labs Jalapeno Bitcoin Miner