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  • #31
    Originally posted by chithanh View Post
    I don't think you understand. The organization in control of your "real" currency can decree that its value is half tomorrow. And the risk of this happening is non-negligible, which is why national banks typically keep diverse currency reserves (not only a single reserve currency).
    And theres nothing that says you can't do the same to bitcoins either, though to do that they would actually have to have some actual monetary value. But since they can't be exchanged for actual goods and services you can have fun trying to convince the rest of the world that your bitcoins are worth even as much as monopoly money.

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    • #32
      Originally posted by Kivada View Post
      Lol, you didn't make any money, you lost it in increased electrical and cooling costs, the only thing you can trade for it is some hosting services from some sketchy hosts or that moron that wanted to sell his house for bitcoins.

      Let me know when you can walk up to a dealership and buy a car with bitcoins, you can't even buy a TV on Amazon with them, you can't get a pair of shoes off Zappos, you can't buy a hard drive off Newegg, you can't buy a camera lens off Adorama. Hell, go to Zareason, System76, Ohava or ThinkPeguin and try and buy a laptop with bitcoins.

      You can't do it can you? You know why? It isn't money and all you've managed to do is waste time and electricity masturbating your failed libertarian fantasies.
      You must be trollin, right? Have you been living under a rock?

      I have bought 20 oz of silver when the USD/BTC ratio was 250. I could any second press to sell my BTC and get EUR in my bank account the next day. Currently the conversion ratio is 150 USD/BTC. If silver and cash in the bank is not money, i don't know what is.

      There are millions of dollars worth of USD/BTC and BTC/USD trades on www.mtgox.com alone per day. And there are several other big exchanges as well.

      I am not saying i was the ones getting the most advantages. Those guys got millions of dollars. But the good thing about it is that unlike eg. zuckerberg who will continue to bring in millions per year for as long as his simple web service is even remotely popular, those who make money out of bitcoin only have the one-time advantage they loose as soon as they cash out.
      Last edited by varikonniemi; 05-01-2013, 02:29 AM.

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      • #33
        Originally posted by Ericg View Post
        There are several IO schedulers, Varik, but CPU schedulers have always been kept to just one: CFS
        Ok, sorry i got confused

        Is there some reason why there are several io schedulers, but only one cpu scheduler?

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        • #34
          Stop talking out of your ass. Bitcoins are a finite resource, that cannot be inflated at the whim of a banker or politician. That is a big part of their appeal compared to fiat money.

          Also, there are at least 3 services that take BTC and buys you stuff from what ever internet site you want, and have them delivered to you. Most take 1% commission, but amazon for instance has a deal with one payment processor so that the customer pays nothing extra compared to credit cards/paypal prices. Bitpay.com is a payment processor that takes in BTC and pays the next day USD to any company's bank account making it a 1-2-3 process to start accept bitcoins.

          So honestly, do your research so that you won't sound so stupid.
          Last edited by varikonniemi; 05-01-2013, 02:24 AM.

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          • #35
            Originally posted by varikonniemi View Post
            Stop talking out of your ass. Bitcoins are a finite resource, that cannot be inflated at the whim of a banker or politician. That is a big part of their appeal compared to fiat money.
            You can say the same thing about gold, though, and the world dropped the gold standard for good reasons. People who think the economy was better back then are willfully blind. It usually has more to do with politics than reason.

            Besides, right now the value of a bitcoin is determined by the whim of speculators. I'm not sure that's any better than bankers or politicians. In fact, many of those speculators are bankers. One guy can bet a lot of money, or start spreading rumors, and watch the entire bitcoin market react with wild swings up and down.
            Last edited by smitty3268; 05-01-2013, 02:46 AM.

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            • #36
              Well, every FIAT currency that has EVER existed has ended in hyper inflation. If it is possible to inflate, the ones in charge will do it since it brings more money to those in charge.

              Also, things have only gone down after leaving the gold standard. Living on borrowed money can only work for so long. And that is coming to an end as we can see with the world economy struggling under its debt load.

              Bitcoin is a new paradigm that has the potential to be fair money without politics.

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              • #37
                Originally posted by Kivada View Post
                Originally posted by chithanh View Post
                I don't think you understand. The organization in control of your "real" currency can decree that its value is half tomorrow.
                And theres nothing that says you can't do the same to bitcoins either, though to do that they would actually have to have some actual monetary value.
                I thought you didn't understand, now I am sure. Bitcoin is fully decentralized, there is not a single authority that has the power to determine its value. Your irrational fear/hate/dislike of Bitcoin makes you come up with false claims just to win the argument.

                Look, there are indeed a number of problems with Bitcoin, each of which has the potential to bring down the entire scheme. But a central organization which suddenly devalues the currency is not one of them.

                Originally posted by Kivada View Post
                But since they can't be exchanged for actual goods and services you can have fun trying to convince the rest of the world that your bitcoins are worth even as much as monopoly money.
                This is wrong. You can buy goods and services for Bitcoins. Monopoly money has totally different properties (not electronic, not cryptographically secured, no limited supply).

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                • #38
                  Originally posted by smitty3268 View Post
                  Besides, right now the value of a bitcoin is determined by the whim of speculators.
                  This days gold value is determined by speculators too.

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                  • #39
                    Originally posted by smitty3268 View Post
                    You can say the same thing about gold, though, and the world dropped the gold standard for good reasons.
                    Not "world", but "banks".

                    Not due to "good reason", but ONLY to be able to INFLATE (read "bubble") the money.

                    Once they understood, people TRUST them in that money is back-uped by gold, they started to REPLACE GOLD with TRUST.

                    They started to EMIT much more debit notes than capital they possess.

                    The birth of the bubble, which is "bank lie".

                    Bitcoin is a LOT more secure in this matter.

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                    • #40
                      Originally posted by brosis View Post
                      Not "world", but "banks".

                      Not due to "good reason", but ONLY to be able to INFLATE (read "bubble") the money.
                      Well as it is the banks who mostly control the world's currencies, you can say world=banks.
                      And the desire to have the ability to inflate the amount of currency at will does have economic justification. It is of course a bad thing for the people who already have such currency, which is part of the reason why many people went to Bitcoin.

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                      • #41
                        Originally posted by varikonniemi View Post
                        Well, every FIAT currency that has EVER existed has ended in hyper inflation. If it is possible to inflate, the ones in charge will do it since it brings more money to those in charge.[...]
                        Nonsense, take the US dollar for instance. Real hyperinflation is correlated with the non-existence/powerlessness of government such as when the French occupied the economic hartland of the germans in 1923 or the Zimbabwe nowadays.
                        Originally posted by brosis
                        Originally posted by smitty
                        You can say the same thing about gold, though, and the world dropped the gold standard for good reasons.
                        Not "world", but "banks".

                        Not due to "good reason", but ONLY to be able to INFLATE (read "bubble") the money.
                        Again nonsense, it is ridiculous to peg the capacity to produce goods such as cars or electronic appliances to the amount of stuff of a certain specific metal you can dig out of the ground.

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                        • #42
                          The US dollar is so young it has not yet reached hyperinflation, it is not even 50 years old! YET is the keyword here, it is on a good course towards it, reaching very high inflation the last few years.

                          http://en.wikipedia.org/wiki/Hyperin...hyperinflation

                          There is a reason no fiat money has ever reached even close to a century of use before it has collapsed into hyperinflation. Usually people want to reap the benefits during their lifetime and the way to benefit from fiat is by printing more.
                          Last edited by varikonniemi; 05-01-2013, 06:53 AM.

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                          • #43
                            Originally posted by Wilfred View Post
                            Real hyperinflation is correlated with the non-existence/powerlessness of government such as when the French occupied the economic hartland of the germans in 1923 or the Zimbabwe nowadays.
                            The generally accepted theory among historians is that the German government was not powerless against hyperinflation, but chose to use it as tool to eliminate the public debt.
                            Originally posted by Wilfred View Post
                            Again nonsense, it is ridiculous to peg the capacity to produce goods such as cars or electronic appliances to the amount of stuff of a certain specific metal you can dig out of the ground.
                            Nonsense. Of course a fixed exchange rate with gold will not limit the capacity to produce goods. But it can lead to deflation which causes other problems.

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                            • #44
                              Originally posted by varikonniemi View Post
                              The US dollar is so young it has not yet reached hyperinflation, it is not even 50 years old! YET is the keyword here, it is on a good course towards it, reaching very high inflation the last few years.
                              In other words, when you said every currency reached hyperinflation, you were full of shit. What you meant was, I personally believe they will all end in hyperinflation. But you don't have any proof or justification. Just a belief, and like any religion or political belief, nothing is going to change your mind.

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                              • #45
                                Are you a bit slow? If everyone who does jump of the cliff dies from the fall, will you jump off the cliff just because someone notices "hey! That guy jumped and has not YET reached the ground!". Then i try to point out "look at ALL those bodies right where you are going to land!". You laugh at this and jump screaming "you were full of shi---" SPLAT

                                What makes you think that after hundreds of failed ones, the us dollar will be the first FIAT to live to a hundred years?

                                Idiocy is doing the same thing over and over again expecting different results. The fiat money theory is broken and cannot yield anything but corruption and ultimately hyperinflation. It is time for plan B(itcoin).
                                Last edited by varikonniemi; 05-02-2013, 02:14 AM.

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