[Chugalug] More on Bitcoin:

Stephen Kraus ub3ratl4sf00 at gmail.com
Thu Aug 22 17:05:53 UTC 2013


I think you summed that up well Chad
On Aug 22, 2013 12:53 PM, "Chad Smith" <chad78 at gmail.com> wrote:

> It's like POGs.
>
> Remember POGs?
>
> BitCoins are like POGs.  Really, in and of themselves, that have
> absolutely no value.  But, for a while in the 90s, some people got RICH off
> of POGs.  Why?  Because they were able to convince people they needed to
> have them.
>
> People bought into it - and some of *those *people also got rich -
> because they collected and traded and sold them.
>
> Eventually, it all came crashing down, because it is very hard to keep
> convincing people they need to spend actually real-world money on little
> cardboard discs.
>
> BitCoin is POGs for the Twenty-Teens Tech Geek.  It won't last.  But there
> will be people who make money off of it.  To them I say "Enjoy it while it
> lasts."
>
> *- Chad W. Smith*
>
>
> On Thu, Aug 22, 2013 at 11:40 AM, Aaron welch <n2nightfall at gmail.com>wrote:
>
>> Me too, me too.
>>
>> -AW
>>
>>
>> On Thu, Aug 22, 2013 at 12:36 PM, Lynn Dixon <boodaddy at gmail.com> wrote:
>>
>>> Aaron,
>>> This is something I have been doing for the last couple of years.
>>>  Bitcoin mining, and trading has been very profitable for me. I can't say
>>> for certain that it will always be this profitable, but I am damn sure
>>> going to ride this curve for as long as its making me money.
>>>
>>>
>>> On Thu, Aug 22, 2013 at 12:00 PM, Aaron welch <n2nightfall at gmail.com>wrote:
>>>
>>>> Agreed.  Lets stop arguing about its merits and downfalls and focus on
>>>> the important parts...  Make the money now before they figure out how to
>>>> devalue it.
>>>>
>>>> -AW
>>>>
>>>>
>>>>
>>>> On Thu, Aug 22, 2013 at 11:44 AM, Bret McHone <dbmchone at gmail.com>wrote:
>>>>
>>>>> http://www.youtube.com/watch?v=xmFXEcI_AA4   This about sums it up.
>>>>>
>>>>> -B
>>>>>
>>>>> On Aug 22, 2013, at 11:27 AM, Stephen Kraus wrote:
>>>>>
>>>>> All you are doing by proposing replacing a regulated form of currency
>>>>> with a limited by design crypto currency is introducing the same problems
>>>>> we ditched by leaving gold backed currency.
>>>>>
>>>>> It is deeply ironic that bitcoiners decry regulation without fully
>>>>> understanding that is exactly what large, monopolistic buisnesses want, or
>>>>> a magical free market thatwe technically had in the early 1900s and only
>>>>> led to massive worker and market abuses.
>>>>>
>>>>> It is with even deeper irony that you decry government manipulation of
>>>>> markets, when the exact opposite led to massive and disastrous market
>>>>> fluctuations.
>>>>>
>>>>> It is with the deepest irony that you decry manipulation of markets
>>>>> without realizing that studying and learning to manipulate markets is the
>>>>> ENTIRE point of economics.
>>>>>
>>>>> Like I said, when pigs fly.
>>>>>  On Aug 22, 2013 11:12 AM, "Matt Keys" <mk6032 at yahoo.com> wrote:
>>>>>
>>>>>>
>>>>>> http://www.cnbc.com/id/100923551
>>>>>>
>>>>>>
>>>>>> On 08/22/2013 10:57 AM, Stephen Kraus wrote:
>>>>>>
>>>>>> If it happens, I'll be waiting for the flying pigs.
>>>>>> On Aug 22, 2013 10:00 AM, "Matt Keys" <mk6032 at yahoo.com> wrote:
>>>>>>
>>>>>>>
>>>>>>> Bitcoin is already an accepted form of payment. Some employers like
>>>>>>> the Internet Archive already give that option to their employees. In other
>>>>>>> words I see bitcoin as a stabilizing factor in a crisis like that. In order
>>>>>>> to keep food, water, shelter, etc. you'd need to pay those employees that
>>>>>>> keep those utilities going... so you're gonna pay them in sandwiches,
>>>>>>> water, and bullets -- or bitcoin? How would you collect payments if you're
>>>>>>> an employer?
>>>>>>>
>>>>>>> What happened in Cyprus is a fact. Another fact that took place
>>>>>>> around 80 years ago... "executive order 6102". Governments historically try
>>>>>>> to seize or ban when they're loosing control or wanting control of
>>>>>>> something -- land, water, shelter, guns/ammo... even money.
>>>>>>>
>>>>>>> On 08/22/2013 08:59 AM, Stephen Haywood wrote:
>>>>>>>
>>>>>>>> If the Euro, or Dollar go belly up, the most usable currency for a
>>>>>>>> few weeks or months will be water, food, shelter, and protection, not
>>>>>>>> bitcoins. Now, after things stabilize, bitcoins might rise up to be the new
>>>>>>>> Euro/Dollar but it is very unlikely.
>>>>>>>> --
>>>>>>>> Stephen Haywood
>>>>>>>> Owner, ASG Consulting
>>>>>>>> CISSP, GSEC, OSCP
>>>>>>>> 423.305.3700
>>>>>>>> stephen at averagesecurityguy.info
>>>>>>>>
>>>>>>>>
>>>>>>>>
>>>>>>>>
>>>>>>>> On Aug 22, 2013, at 6:05 AM, Matt Keys <mk6032 at yahoo.com> wrote:
>>>>>>>>
>>>>>>>>  Yeah, have fun...
>>>>>>>>>
>>>>>>>>> Have fun trying to keep track of who's behind the IP in each
>>>>>>>>> transaction... have fun trying to "regulate" a peer-to-peer network with no
>>>>>>>>> central authority. Downloading copyrighted material using bittorrent has
>>>>>>>>> been deemed illegal and has been "regulated" by various authorities... does
>>>>>>>>> it still happen? Do the authorities know exactly how often this happens,
>>>>>>>>> from where, to/from whom?
>>>>>>>>>
>>>>>>>>> The usual political fear mongering won't work. I think what's
>>>>>>>>> happening is that governments are starting to wrap their heads around this
>>>>>>>>> gigantic problem -- "how the hell are we going to continue business as
>>>>>>>>> usual if this really takes off worldwide?"
>>>>>>>>>
>>>>>>>>> This guy quoted on the cnbc article has the right idea, but he's
>>>>>>>>> thinking about it in the wrong direction : "If the euro does go belly up
>>>>>>>>> the German authorities could potentially still collect tax if everyone
>>>>>>>>> started using the bitcoin - that's a good example of German
>>>>>>>>> forward-thinking!" -- http://www.cnbc.com/id/100971898 . If the
>>>>>>>>> Euro goes "belly up" nobody is going to give a shit about German taxes.
>>>>>>>>> They're going to dump their Euro money, as fast as possible, to bitcoin and
>>>>>>>>> another forms of money. Think Cyprus crisis v2.0 on an exponential scale.
>>>>>>>>>
>>>>>>>>>
>>>>>>>>> On 08/21/2013 04:21 PM, Stephen Kraus wrote:
>>>>>>>>>
>>>>>>>>>> Yeah, guess what it means.
>>>>>>>>>>
>>>>>>>>>> You have to report any profit you make from Bitcoin on your
>>>>>>>>>> taxes. Have fun!
>>>>>>>>>>
>>>>>>>>>>
>>>>>>>>>> On Wed, Aug 21, 2013 at 3:59 PM, Tyler Mittan <
>>>>>>>>>> flashbatmanquestion at gmail.com> wrote:
>>>>>>>>>> Looks like Bitcoin is being recognized as "private money" by
>>>>>>>>>> Germany:
>>>>>>>>>>
>>>>>>>>>> http://www.cnbc.com/id/100971898
>>>>>>>>>>
>>>>>>>>>> For those that don't take Austrian economics seriously, notice
>>>>>>>>>> the name drop of F.A. Hayek.
>>>>>>>>>>
>>>>>>>>>>
>>>>>>
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>>>>
>>>>
>>>> --
>>>> Aaron Welch
>>>> Chief Mechanic @ Geek Ventures
>>>> 423-505-9999
>>>> n2nightfall at gmail.com
>>>> "Enabling people to do great things with their own ideas."
>>>>
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>>
>>
>> --
>> Aaron Welch
>> Chief Mechanic @ Geek Ventures
>> 423-505-9999
>> n2nightfall at gmail.com
>> "Enabling people to do great things with their own ideas."
>>
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