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  • I was hoping for a currency where I can use a pass or device to pay for my coffee, rail card top up, buy something on Amazon from the US, then fly to Singapore and buy a freshly baked pork bun from a hawker stand without touching physical currency and without loss of money in transfer fees.
  • edited December 2013
    If we're getting technical, your bank account doesn't contain U.S. dollars (physical or digital) in the first place; it's a bank IOU.

    U.S dollars in the strictest sense come in two forms - digital accounts at the Fed (bank reserves) and physical notes.

    However, while it's true that you may be exchanging IOUs and not "U.S. dollars" when you make a transaction, that doesn't mean you aren't exchanging money.

    Indeed, all fiat currencies are inherently debt-based; their reliablity comes from the reliability of the debtor.
    Post edited by lackofcheese on
  • edited December 2013
    sK0pe said:

    I was hoping for a currency where I can use a pass or device to pay for my coffee, rail card top up, buy something on Amazon from the US, then fly to Singapore and buy a freshly baked pork bun from a hawker stand without touching physical currency and without loss of money in transfer fees.

    Unified currency is not a good idea unless you also have unified government - just look at the results of the Euro. In the meantime, I think the current system is good enough.
    Post edited by lackofcheese on
  • Something something bitcoin in the news again.
  • Mt. Gox disappeared with everyone's money.

  • Rym said:

    Mt. Gox disappeared with everyone's money.

    Captain Obvious TO THE RESCUE!
  • Watch out for a run of rare Magic the Gathering cards being purchased with BitCoins...
  • I can't remember who said it, but it went something like this: The best part about bitcoin is watching Libertarians discover one by one why each banking regulation exists.
  • Churba said:

    I can't remember who said it, but it went something like this: The best part about bitcoin is watching Libertarians discover one by one why each banking regulation exists.

    I can't remember who said it, either, but it's making the rounds because it's deliciously true.
  • Serious bitcoiners are the financial equivalent of bronies.
  • Andrew said:

    Serious bitcoiners are the financial equivalent of bronies.

    I was thinking of the famous Tulip market bubble of 1636-1637.
  • HMTKSteve said:

    Andrew said:

    Serious bitcoiners are the financial equivalent of bronies.

    I was thinking of the famous Tulip market bubble of 1636-1637.
    Apparently, that (honestly rather true) analogy gets slung around so much, major bitcoin forums have banned it.


  • It's all the filthy fiat economy's fault! They wanted the bitcoin dream to fail!
  • Now give me back my family.
  • edited February 2014
    I can't hear what he's saying, but that guy's facial expressions imply he is straight up lying.
    Post edited by Anthony Heman on
  • I can't hear what he's saying, but that guy's facial expressions imply he is straight up lying.

    He's saying "I am the douche king. All douches gather around me and protect the douche alliance!"
  • On the one hand, I want to feel bad for the people who sunk their entire livelyhoods and earthly possessions into BitCoin. But at a certain point, it became "Helping someone who doesn't want to be helped".
  • Watch out for a run of rare Magic the Gathering cards being purchased with BitCoins...

    When I was a kid, I wanted to trade my diglet card for other better cards, but everyone else had tons of diglets and said it sucked because it was so common. So I stole the plot from an episode of Tail Spin, got them to give me all of their diglets, then burned all but a few. Then I traded my locally rare diglets for better cards.

  • Andrew said:

    image

    Yrrp, had real trouble finding my R9 270 in stock anywhere because stinkin bitcoin miners were buying them up.

  • edited February 2014
    More damage control from Mr. Ver:

    Post edited by Daikun on
  • edited February 2014
    TL:DW: This isn't a problem with bitcoin! It's because other people that we hailed as heros and as being better than the banks were actually completely incompetent! It's everyone else's fault! Bitcoin is better than ever! Now a whole bunch of businesses are taking bitcoin and immediately cashing them out to cash, because they know that bitcoin people will buy goddamn near anything if they can do it with bitcoins!

    Script-reading monotone replaced with exclamation points so that you don't fall asleep while you're reading.

    Also, I found that exact quote I mentioned before. From Twitter user Pocius Pocius: "The best part about bitcoins is that you get to watch libertarians slowly discover why financial regulations exist to begin with."
    Post edited by Churba on
  • That guy literally has zero charisma. It's interesting watching him try.
  • I still haven't heard him, but I'm already inclined to agree.
  • Mt.Gox hit with $400 million lawsuit.

    They're aiming too low with that figure.
  • Doesn't matter; even if they can manage to get Mt. Gox to court (probably difficult, as they're based out of Tokyo), they're not going to have much in the way of assets to pay damages with, particularly after paying for the lawsuit. It is, amusingly enough, pretty much just a waste of money on the claimant's part.
  • Doesn't matter; even if they can manage to get Mt. Gox to court (probably difficult, as they're based out of Tokyo), they're not going to have much in the way of assets to pay damages with, particularly after paying for the lawsuit. It is, amusingly enough, pretty much just a waste of money on the claimant's part.

    These are Bitcoiners we're talking about here. This isn't the biggest waste of their money.
  • For purposes of the lawsuit how is the value of the bitcoins set? Are they locked to the price on the date the site closed? If bitcoin were to crash to $1 could Mt. Gox just buy 750,000 and give them back?
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