|
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[^]
|
|
|
|
|
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
|
|
|
|
|
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[^]
|
|
|
|
|
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
|
|
|
|
|
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[^]
|
|
|
|
|
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
|
|
|
|
|
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[^]
|
|
|
|
|
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
|
|
|
|
|
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[^]
|
|
|
|
|
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
|
|
|
|
|
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[^]
|
|
|
|
|
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...
|
|
|
|
|
Member 12009066 wrote: Correlation is not causality.
No, it ain't, but it does show that it is a rediculous claim that BC is enabling it.
Member 12009066 wrote:
Don't know much about forensics, do you?
That's a brilliant deduction, dear Watson. And there's still enough banks that provide "privacy"; that's why the caribean is such a popular destionation. Did you just choose to ignore the news?
Member 12009066 wrote: "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...
BC has intrinsic value; it is a mathematical limited entity. Like gold-coins, it is merely trading your stored value against something that is usefull (for you).
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
|
|
|
|
|
Quite. So many people banging on about nonsense like this...we need VPNs so the government can't track what we do, we need WhatsApp so the government can't snoop on us, we need Bitcoin so the greedy bank fat cats don't control our money. The only actual use for all of these things are terrorism and criminal activities....news flash, the government couldn't care less what non-consequential nonsense you're talking to your irrelevant friends.
|
|
|
|
|
F-ES Sitecore wrote: the government couldn't care less what non-consequential nonsense you're talking to your irrelevant friends
Not so sure about that..
Europe’s Freedom of Speech Fail | Foreign Policy
EU states approve plans to make social media firms tackle hate speech| Reuters
When I see terms like "hate speech" and "social cohesion" I get worried.. sounds an awful lot like excuses for "censorship" to me.
Now is it bad enough that you let somebody else kick your butts without you trying to do it to each other? Now if we're all talking about the same man, and I think we are... it appears he's got a rather growing collection of our bikes.
modified 31-Aug-21 21:01pm.
|
|
|
|
|
Those laws only apply to nasty things you say to celebrities on Twitter, so pretty niche market.
|
|
|
|
|
It's being extended out to all social media.. And who gets to decide what's nasty? Is this a crackdown on people expressing their concerns and/or disapproval of the EU, mass migration, multiculturalism, terrorism, etc?
I remember how the media tried to cover up the Cologne New Year attacks and how the media were complicit in covering up the events of Rotherham.. dangerous times. 
Censorship of Facebook - Wikipedia
Quote: In 2015, during the refugee crisis with large numbers of immigrants entering the country unregulated, a broad discussion about the problems of mass immigration and politics of the actual government took place in social media. In this situation a campaign was started to force Facebook to erase right wing hate speech. Early in 2016, a Bertelsmann company called "Arvato" was mandated to erase comments and contents from Facebook.[15] Rules and procedure for that censorship, as well as the juridical base is not clear at the moment (January 2016).
Now is it bad enough that you let somebody else kick your butts without you trying to do it to each other? Now if we're all talking about the same man, and I think we are... it appears he's got a rather growing collection of our bikes.
modified 31-Aug-21 21:01pm.
|
|
|
|
|
I was being facetious I’ve noted that the only time you ever see these laws enforced or the only time they make the headlines is when someone has called Katy Price fat or suggested Prince William was bald.
|
|
|
|
|
F-ES Sitecore wrote: I was being facetious
I get that, but with what's been going on across Europe recently I think this is something we should be very concerned about.
F-ES Sitecore wrote: the only time you ever see these laws enforced or the only time they make the headlines is when someone has called Katy Price fat or suggested Prince William was bald
It's being used a lot more that - social media sites are busy taking down content you're not allowed to see on a near-constant basis.
Now is it bad enough that you let somebody else kick your butts without you trying to do it to each other? Now if we're all talking about the same man, and I think we are... it appears he's got a rather growing collection of our bikes.
modified 31-Aug-21 21:01pm.
|
|
|
|
|
They say (in Hebrew) that prophecy was given to small children, deaf-mutes, and madmen.
In which category do you place CPians?
If you have an important point to make, don't try to be subtle or clever. Use a pile driver. Hit the point once. Then come back and hit it again. Then hit it a third time - a tremendous whack.
--Winston Churchill
|
|
|
|
|
Daniel Pfeffer wrote: They say (in Hebrew) that prophecy was given to small children, deaf-mutes, and madmen.
In which category do you place CPians?
small children, love to fight and usually deliver nonsense. (deaf mutes are just dumb bad listeners and madmen are in fact logical in their own way.)
Sin tack
the any key okay
|
|
|
|
|
When looking into investments and trying to grow my wallet, I always take the stance of risk vs reward. I learned on Eve Online "Only fly what you can afford to lose." Invest what you can afford to lose; that way, if you win, you win big, but if you lose, you just suffer a "little" regret and nothing more.
When you are dead, you won't even know that you are dead. It's a pain only felt by others.
Same thing when you are stupid.
modified 19-Nov-21 21:01pm.
|
|
|
|
|
Yes. And all I want to know in life right now is how to short the damn thing. 
|
|
|
|
|
fx trading allows for that, and with margin trading so you only need to put a small amount down
- but margin trading not for the faint hearted - even small moves are amplified by the margin percentage.
I occasionally dabble in fx trading through oanda, (can set up a demo account and 'practice' trade on real data - stops any chance to cheat as opposed to using historical data.)
They have a few trading platform variants including online, metatrade, mobile apps and even api's so it's even possible to write your own platform.
Sin tack
the any key okay
|
|
|
|
|
Who knows. But more interesting is the whole concept of block chains and digital transactions, not just for currency, but for any kind of contractual arrangement. At the end of the day, it'll be the lawyers, as usual, that win. 
Marc
Latest Article - Create a Dockerized Python Fiddle Web App
Learning to code with python is like learning to swim with those little arm floaties. It gives you undeserved confidence and will eventually drown you. - DangerBunny
Artificial intelligence is the only remedy for natural stupidity. - CDP1802
|
|
|
|
General 
News 
Suggestion 
Question 
Bug 
Answer 
Joke 
Praise 
Rant 
Admin 
Submit an article or tip
