Notices tagged with bitcoin
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#Bitcoin now accepted for #TALOSII preorders. Order your secure, owner-controlled POWER9 machine today at https://raptorcs.com/TALOSII/ !
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@maiyannah @bob #BitCoin seems to have worked out that way, but I'm not sure that's inherent to blockchain. What about #FairCoin?
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.@skyeelijah came to #LibrePlanet to talk about #bitcoin, #blockchain, and what they mean for the future. https://u.fsf.org/26v
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@notjeff thanks for the tip. Looking at the homepage it looks pretty much the same as #BitCoin. Got good links to more detail on its design?
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@strypey @jeffcliff #Bitcoin failed mainly because of its bad design, which resulted in it only being a speculator's toy. My acid test for any currency is that if I can't purchase basic foodstuffs with it then it's of little use to me. Since there is no incentive to spend Bitcoin due to its design then it becomes irrelevant quite quickly.
Any viable cryptocurrency needs to be spendable. That is, there needs to be not much utility in holding onto it for very long and it needs to be creatable at the point of exchange.
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@jeffcliff #BitCoin is looking unlikely to replace cash or Credit/ Debit cards any time soon. @mjd and I have given you a few reasons why
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@jeffcliff we are talking about *cash*. Changing the subject might help you win arguments but it doesn't magically make #BitCoin more useful
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@jeffcliff my point is there's no guarantee #BitCoin can be used for such things, the state *guarantees* fiat can (which is why "fiat")
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@jeffcliff who accepted taxes in #BitCoin?
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@jeffcliff 2008 was not a crash in the value of currencies, but in the value of speculative assets. Guess what kind of asset #BitCoin is?
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@jeffcliff fiat currencies are the ones you can buy real stuff with, settle debts, pay taxes. Compared to them #BitCoin is foam
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@jeffcliff and regular catastrophic events like Hearn's departure from #BitCoin or the #Ethereum hard fork. Fiat cash does not have this
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@jeffcliff Fiat currency values are variable, yes, but they don't vary as much or as fast as #BitCoin, which makes it useless to retailers
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@jeffcliff #BitCoin is useful for things like #WikiLeaks and #SilkRoad but these are a small subset of the larger set of use cases for cash
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@mjd @jeffcliff key point: #BitCoin becoming useful as online cash is not just a matter of time and adoption. There are structural problems
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@jeffcliff sure. Don't get me wrong, I cheer when I see #BitCoin being used to hack around the Credit Card company blockade of #Wikileaks
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@jeffcliff @deadsuperhero for #BitCoin to replace state-backed currency would require radical changes to political-economic power structures
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@jeffcliff @deadsuperhero my point is #BitCoin has only worked as the former. It's not widely accepted as payment. That's observable fact
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@jeffcliff this gives them a security of value that sea shells never had, and that #BitCoin will never have unless a state backs it
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@jeffcliff my point was that if #BitCoin was a widely accepted medium of exchange, there would be no need to convert it to US$ (or local $)
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