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Bitcoin versus other monies.

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  • Originally posted by Sparko View Post
    riiiiigghht.

    An iphone has a 4 digit passcode. really secure. and opening malware or a bad app could allow access to your phone too.
    Not really.
    That would be the physical layer. We're talking about software here. (By the way, I do agree with you on the fact that Bitcoin is a fad currency.) Apple products don't allow anything to run unless it has been signed by Apple. The only way you could get around that is jail breaking the device which usually requires a tech savvy user and leaves clear signs on the device.
    "It's evolution; every time you invent something fool-proof, the world invents a better fool."
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    • Originally posted by Sparko View Post
      fingerprint scanners are notoriously unreliable. Half the time they don't even recognize your own print, and a lot of times will register someone else's print as legit. I use my fingerprint to get into my brother's laptop all the time. Just keep swiping my finger till it registers.
      It seems as though you see no further improvement in the hardware. It would always be that bad.
      The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

      [T]he truth I’m after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -— Marcus Aurelius, Meditations

      Comment


      • Originally posted by Irate Canadian View Post
        Not really.
        That would be the physical layer. We're talking about software here. (By the way, I do agree with you on the fact that Bitcoin is a fad currency.) Apple products don't allow anything to run unless it has been signed by Apple. The only way you could get around that is jail breaking the device which usually requires a tech savvy user and leaves clear signs on the device.
        unless someone figures out how to spoof the "signed by apple" certificate.

        Comment


        • Originally posted by Truthseeker View Post
          It seems as though you see no further improvement in the hardware. It would always be that bad.
          no everything keeps getting better. but so do hackers.

          Comment


          • Disclaimer: I own some bitcoins.

            Bitcoin: The Phoenix from the Ashes--snippets from that article by Jeffrey Tucker (Tomorrow in Review, agorafinancial.com, 2014/7/9)
            Apple gives in to popular demand; Expedia & Kings College & musician 50 Cents now accepting Bitcoins. eBay adds a section for Bitcoin trading. Did you hear about the Texan family who traveled to New Hampshire without spending a single dollar?
            The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

            [T]he truth I’m after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -— Marcus Aurelius, Meditations

            Comment


            • Disclaimer: I own some bitcoins. If you're the sort of person who just has got to know from time to time the dollar-exchange value of Bitcoin, here's a convenient way. Just google "price of bitcoin." At 4:07 PDT, I got $632 per bitcoin.
              The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

              [T]he truth I’m after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -— Marcus Aurelius, Meditations

              Comment


              • Disclaimer: I own some bitcoins.

                (Please, no jokes about being hard-bitten.)

                Is Dominica to be the world's first Bitcoin nation? If you're interested, circle March 14, 2014, and gasp at the advent of the Bit Drop. (Please, no jokes about how much Bitcoin has dropped in dollar terms lately.)
                The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

                [T]he truth I’m after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -— Marcus Aurelius, Meditations

                Comment


                • Originally posted by Truthseeker View Post
                  Disclaimer: I own some bitcoins.

                  (Please, no jokes about being hard-bitten.)

                  Is Dominica to be the world's first Bitcoin nation? If you're interested, circle March 14, 2014, and gasp at the advent of the Bit Drop. (Please, no jokes about how much Bitcoin has dropped in dollar terms lately.)
                  My prediction? Failure.

                  Comment


                  • Sparko, why do you want me to lose purchasing power?
                    The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

                    [T]he truth I’m after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -— Marcus Aurelius, Meditations

                    Comment


                    • Originally posted by Truthseeker View Post
                      Sparko, why do you want me to lose purchasing power?
                      It is up to you to decide whether to have bitcoins or not. And I am not talking about the failure of bitcoin itself, but of converting the Dominica Republic to a bitcoin economy. It is too complicated and ephemeral for most people and they won't embrace it. Maybe on down the road, but not by March of next year (you did mean 2015 and not 2014, right?)

                      and if it DID work, it would cause the bottom to drop out of bitcoin since the exchange rate for the East Caribbean Dollar (what they use now) is only 37 cents to the US dollar. You don't think just switching to bitcoin would change the value of the country's GNP do you? It would cause bitcoin to become worth less than it is now.

                      Comment


                      • Originally posted by Sparko View Post
                        It is up to you to decide whether to have bitcoins or not. And I am not talking about the failure of bitcoin itself, but of converting the Dominica Republic to a bitcoin economy. It is too complicated and ephemeral for most people and they won't embrace it. Maybe on down the road, but not by March of next year (you did mean 2015 and not 2014, right?)
                        I checked, and it IS 2015, not 2014. Next year. I wasn't thinking of time travel.



                        and if it DID work, it would cause the bottom to drop out of bitcoin since the exchange rate for the East Caribbean Dollar (what they use now) is only 37 cents to the US dollar. You don't think just switching to bitcoin would change the value of the country's GNP do you? It would cause bitcoin to become worth less than it is now.
                        What nonsense. You had better redo your thinking, taking your logical steps much smaller. If you do that and still reach the same conclusion, why not post the steps? If there is an error somewhere I might somehow be able to spot it and explain it to you.
                        The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

                        [T]he truth I’m after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -— Marcus Aurelius, Meditations

                        Comment


                        • Originally posted by Truthseeker View Post
                          I checked, and it IS 2015, not 2014. Next year. I wasn't thinking of time travel.



                          What nonsense. You had better redo your thinking, taking your logical steps much smaller. If you do that and still reach the same conclusion, why not post the steps? If there is an error somewhere I might somehow be able to spot it and explain it to you.
                          Dominica is a relatively poor country. It probably makes most of its money from tourism. It is also known as a place a lot of internet scams come from (similar to the reputation that Nigeria has)

                          Even if they convert their economy to bitcoin, the rest of the world will not be converted. How will tourists be able to pay for stuff? Nobody will trust any digital exchange from real cash to bitcoins. Too easy to get ripped off over there.

                          Not everyone has a smart phone over there, or a computer. There are a lot of poor people in Dominica. How will they buy and sell stuff?

                          They have nothing of value to export, their biggest export is soap.

                          It is all either a marketing ploy, or a desperate gasp from bitcoin, who already has a crappy reputation as a black market currency.

                          But hey, invest all of your money in it if you want. Then tell me how it worked out next March.

                          Comment


                          • Originally posted by Sparko View Post
                            Dominica is a relatively poor country. It probably makes most of its money from tourism. It is also known as a place a lot of internet scams come from (similar to the reputation that Nigeria has)

                            Even if they convert their economy to bitcoin, the rest of the world will not be converted. How will tourists be able to pay for stuff? Nobody will trust any digital exchange from real cash to bitcoins. Too easy to get ripped off over there.

                            Not everyone has a smart phone over there, or a computer. There are a lot of poor people in Dominica. How will they buy and sell stuff?

                            They have nothing of value to export, their biggest export is soap.

                            It is all either a marketing ploy, or a desperate gasp from bitcoin, who already has a crappy reputation as a black market currency.

                            But hey, invest all of your money in it if you want. Then tell me how it worked out next March.
                            Your thesis was that Bitcoin would drop relative to the dollar, that is, one bitcoin would buy even fewer dollars than now (~$480 per bitcoin, according to Google at around 5:03 PDT). Your mixture of facts and opinion does not constitute an argument that establishes firmly that thesis. Yes, Dominica is a poor nation, but so what? Suppose the only trading in Bitcoin by Dominicans were between them only. Then how would that affect the U.S. dollar value of the bitcoin? Sure, tourism might inject some bitcoins. Maybe some of the tourists will be from the U.S. But their spending would constitute only a small part of the worldwide bitcoin traffic. I don't care to go on about how irrelevant your opinions and facts are. Take the point about bitcoin being black-market. We are going to have black markets, bitcoin or no bitcoin. And you said something like someone says that the U.S. dollar is a black market currency. (Have you heard of money laundering yet? That is not bitcoin, that is dollars!)

                            Try again.
                            The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

                            [T]he truth I’m after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -— Marcus Aurelius, Meditations

                            Comment


                            • Originally posted by Truthseeker View Post
                              Your thesis was that Bitcoin would drop relative to the dollar, that is, one bitcoin would buy even fewer dollars than now (~$480 per bitcoin, according to Google at around 5:03 PDT). Your mixture of facts and opinion does not constitute an argument that establishes firmly that thesis. Yes, Dominica is a poor nation, but so what? Suppose the only trading in Bitcoin by Dominicans were between them only. Then how would that affect the U.S. dollar value of the bitcoin? Sure, tourism might inject some bitcoins. Maybe some of the tourists will be from the U.S. But their spending would constitute only a small part of the worldwide bitcoin traffic. I don't care to go on about how irrelevant your opinions and facts are. Take the point about bitcoin being black-market. We are going to have black markets, bitcoin or no bitcoin. And you said something like someone says that the U.S. dollar is a black market currency. (Have you heard of money laundering yet? That is not bitcoin, that is dollars!)

                              Try again.
                              well let's see what happens in March. I predict failure of conversion to bitcoin. And if I am wrong, then I predict bitcoin crashing.

                              Comment


                              • Originally posted by Sparko View Post
                                well let's see what happens in March. I predict failure of conversion to bitcoin. And if I am wrong, then I predict bitcoin crashing.
                                If I understand correctly, the Bitcoin Drop is simply giving a bitcoin account to each Dominican who currently don't have a bitcoin account. I don't know the initial bitcoin amount, but it could be the equivalent of merely one penny or so. Foolish government action, sure. But how is the success of the Bitcoin Drop going to cause a big crash? You are not assuming feedback effects like those global warmists are?
                                The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

                                [T]he truth I’m after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -— Marcus Aurelius, Meditations

                                Comment

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