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DaveAuld wrote: is currently sitting around the $2700
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Bastard Programmer from Hell 
If you can't read my code, try converting it here[^]
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When would you define something to be in a "bubble"?
It's not like you see BitCoins everywhere, with people dumping bonds and stocks to "get into" BitCoin.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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..because you deem the fair price to be around what? 
Bastard Programmer from Hell 
If you can't read my code, try converting it here[^]
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I don't care but it should be stable to be a real currency else what's the point. This is a vehicle for spruikers.
Peter Wasser
"The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts." - Bertrand Russell
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pwasser wrote: I don't care but it should be stable to be a real currency else what's the point.
No, it doesn't. Even in fiat-currencies there are swings and speculators.
Few centuries ago, the Spanish flooded the silver and gold markets. That made the value go down wildly, but did not make it any less of a currency.
Most people would prefer to hold their "value" in a currency that has room to grow in value, when compared to a currency that is debased by choice.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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I've made my point. Let's see how Bitcoin shapes up.
Peter Wasser
"The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts." - Bertrand Russell
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Now... dropping like a lead balloon!
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Yes.
«When I consider my brief span of life, swallowed up in an eternity before and after, the little space I fill, and even can see, engulfed in the infinite immensity of spaces of which I am ignorant, and which know me not, I am frightened, and am astonished at being here rather than there; for there is no reason why here rather than there, now rather than then.» Blaise Pascal
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I would cheer it on.
1 - Online Extortion relies heavily on this type of currency. They'd suddenly be broke.
2 - If they did extortion with real currency it could be traced and we could boil them in oil.
3 - If they cashed in their bitcoin, the appearance of real money would be traceable (and taxable).
So, when I hear that flushing sound I'll be quite pleased.
| Ravings en masse^ |
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| "The difference between genius and stupidity is that genius has its limits." - Albert Einstein | | "If you are searching for perfection in others, then you seek disappointment. If you are seek perfection in yourself, then you will find failure." - Balboos HaGadol Mar 2010 |
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W∴ Balboos wrote: 1 - Online Extortion relies heavily on this type of currency. They'd suddenly be broke.
Because ransomware did not exist before the introduction of the BitCoin?
W∴ Balboos wrote: 2 - If they did extortion with real currency it could be traced and we could boil them in oil.
No, thanks to banks a lot of electronic fiat cannot be traced. Which reminds me, I got a donation to your name in the value of a million dollar. You just need to transfer 3000 dollar in administration fees
W∴ Balboos wrote: 3 - If they cashed in their bitcoin, the appearance of real money would be traceable (and taxable).
There's nothing to cash in - BC is cash*.
--
*) for the given context.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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Eddy Vluggen wrote: You just need to transfer 3000 dollar in administration fees
So you are the prince from Zamunda Nigeria?
The language is JavaScript. that of Mordor, which I will not utter here
This is Javascript. If you put big wheels and a racing stripe on a golf cart, it's still a f***ing golf cart.
"I don't know, extraterrestrial?"
"You mean like from space?"
"No, from Canada."
If software development were a circus, we would all be the clowns.
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CDP1802 wrote: So you are the prince from Zamunda Nigeria?
Depending on the payment, I'll even be Elvis.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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I mostly agree with you, but BC made it a whole lot safer and easier to cash in the ransom. I also saw a case where real life kidnappers wanted BC as ransom payment. It makes the job of authorities a lot harder and for the criminals a lot easier.
If you think about putting safety measures to prevent someone entering your home, it won't really prevent it, but heck, it may just make the guy look somewhere easier.
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson
Our heads are round so our thoughts can change direction - Francis Picabia
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Fabio Franco wrote: I also saw a case where real life kidnappers wanted BC as ransom payment. It makes the job of authorities a lot harder and for the criminals a lot easier.
The currency that is most used (globally) for illegal transactions is the American Dollar.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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Eddy Vluggen wrote: The currency that is most used (globally) for illegal transactions is the American Dollar.
I know. It's because it's the most accepted currency worldwide too.
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson
Our heads are round so our thoughts can change direction - Francis Picabia
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Where BC is painted to be used by criminals and people who evade taxes. Again, most of that is in dollars.
BC is beyond state-control, and most countries do not like that idea. Which must mean that it is the best invention since sliced bread.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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Eddy Vluggen wrote: Where BC is painted to be used by criminals and people who evade taxes.
Like I said, I mostly agree with you. But it does make their activities easier, but I never mentioned it's only useful to them, or that BC is mostly used by them.
Like many things in life there are the upsides and downsides to it. The idea that government can't control it is actually really comforting. What I don't like about it is that it doesn't have any kind of material or service attached to it, so it floats like hell. I wouldn't keep a BC savings account for example, it's much too volatile and a big question mark. I would though use it as a small slice of my investments. It has potential, but I also fear it will eventually burst. To me it has the same value as the loan papers that caused US's real state bubble burst. It's based on something that 'may' pay.
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson
Our heads are round so our thoughts can change direction - Francis Picabia
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Fabio Franco wrote: What I don't like about it is that it doesn't have any kind of material or service attached to it, so it floats like hell.
Incorrect. Its value is derived from the fact that there are limited amounts of them.
Since it is a new currency, you can expect wild swings until a fair price is found.
Fabio Franco wrote: To me it has the same value as the loan papers that caused US's real state bubble burst. It's based on something that 'may' pay.
It is not a money-generating asset, so it would only pay if you speculate in the currency. It is a store of value however, and since demand has a lot room left to grow, I'd even argue that we are a long way from a bubble.
A bank is something that 'may' pay; as long as not everyone tries that simultaneous 
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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Eddy Vluggen wrote: Its value is derived from the fact that there are limited amounts of them.
Still, no material attached to it. Government currencies have at least some material or service attached to it (like gold, properties, etc).
Eddy Vluggen wrote: a lot room left to grow, I'd even argue that we are a long way from a bubble.
I agree on that, but still specifically bound to speculation. I see that trend change since acceptance is growing (Japan accepts it as an official currency) and it's potential to have material attached to it grows.
I may be wrong in my views, I am not a financial expert, but I wouldn't jump with my both feet on it.
Eddy Vluggen wrote: A bank is something that 'may' pay; as long as not everyone tries that simultaneous
Yep, won't challenge that 
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson
Our heads are round so our thoughts can change direction - Francis Picabia
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Fabio Franco wrote: Still, no material attached to it.
It is not a physical thing, but a mathematical thing. And due to the fact that they are, they're usefull as a means of exchange. And no, goverment money is not backed by gold.
Fabio Franco wrote: I wouldn't jump with my both feet on it.
I can't even afford tipping toes in it.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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Eddy Vluggen wrote: And no, goverment money is not backed by gold.
That's not true. Of course it's not like the old days, today a very small percentage of most governments is gold (a few still a lot), but there are other commodities.
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson
Our heads are round so our thoughts can change direction - Francis Picabia
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Fabio Franco wrote: That's not true
Go ask your central bank.
There is nothing backing the modern currencies.
Fabio Franco wrote: oday a very small percentage of most governments is gold (a few still a lot), but there are other commodities.
Owned by governments, does not make it a collateral for the outstanding paper/fiat money.
Multiple modern bankrupcies have proven that.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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Because ransomware did not exist before the introduction of the BitCoin?
Correlation is not causality.
No, thanks to banks a lot of electronic fiat cannot be traced.
Don't know much about forensics, do you?
There's nothing to cash in - BC is cash*.
"cashing in" requires, at some point, a trade of something for something ELSE.
At some point, it turns into someTHING that has intrinsic value.. Chickens, bread, Gold...
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