Bit coin and their grubby little hands

From: Billy 


Did you hear? The IRS wants your Bitcoins!

And how will they enforced that? 

Time to remember:
The difference between the Mafia and the IRS
is that the Mafia has a code of HONOR.

OT: Local Hero Film Fest

From: Rod 
El Jeffe ask me to pass this along. seee the pr spot at the link below.

Man loses $8500 of wife's savings on Bitcoin

From: William Roush 

Oh boy? (Bitcoin exchange Mt. Gox disappear?)

Bitcoin exchange Mt. Gox disappears in blow to virtual currency 

BitCoin lecture - March 6th, Nashville

From: Chad Smith 
I really don't know why I still get Tennessee Political stuff, but this may
be of benefit to some of you in the area.

*- Chad W. Smith*

---------- Forwarded message ----------


Bitcoin expert, John R. Meese  will
be giving a lecture on understanding, using, and investing with Bitcoin.

*March 6th....*

Logan's Road House
2400 Elliston Pl
Nashville, Tennessee 37203

The back room at Logan's will be available from 5pm for social hour and
dinner. The presentation will start at 6:30p

* This is free and open to the public, please bring a friend! *
More details about the event here:

If someone gives you a BitCoin QR code....

From: Chad Smith 
Don't flash it on live TV.

*- Chad W. Smith* to accept Bitcoin

From: Lynn Dixon 
------------------------------------------------------ is set to become the largest US Retailer to accept Bitcoin:

Overstock is expected to have 1.3 billion in revenues in 2013.

I like this quote from their CEO:
"We're the guys who like gold," he said. "We think the monetary base should
not be something that a government can create with a stroke of a pen."

OT: pimpin some warez

From: Ed King 
cool, I'll bring bitcoin=0A=0A=0A=0A=0A

Giving Thanks..

From: Mike Harrison 
------------------------------------------------------ and hundreds of other 
worthy places would appreciate a little "thanks" for their efforts to protect FOSS
and related activities.

Many of them will take some bitcoin as well as paypal, credit cards, etc..

Tomorrow is "Thanks Giving" and I invested $100 (spread it out) to say 
"Thank You", I'm imploring you to do the same where and how you see fit 
and are able.

Bitcoin hit $1073 today

From: Lynn Dixon 
So, one measly Bitcoin will buy you $1073 U.S. Dollars.

Bitcoin thread explosion in 3....2....1....FIGHT!

We need a new BITCOIN fight!

From: Phil Sieg 
I just broke even (paid for my equipment) in my little bitcoin experiment. Bought my stuff in early September, so just over 60 days to even.

Now the question is whether to turn it into USD, or leave it as coin and see if it goes back to $900.

Thanks to Matt and Lynn for turning me on to coinbase to make cashing out easy!

BITCOIN has been mentioned in the Chugalug thread so are you ready to RUMBLE?

Phil Sieg
SeniorTech LLC / snapfōn®

Phone: 423.535.9968
Fax: 423.265.9820
Mobile: 423.331.0725

"The computer is the most remarkable tool that we've ever come up with. It's the equivalent of a bicycle for our minds."

Steve Jobs, 1955-2011

Bitcoin bit $378 today

From: Lynn Dixon 
Bitcoin broke another record when compared to the US dollar.  $378 will buy
one bitcoin now.

BFL Singles may still be making sizable profits for a few more months.

hmm Someone with ACH connections, Groks bitcoins, and meet regs could make a fortune

From: Rod 
The Ultimate Bitcoin Question: Can the Feds Spend $3.3M in Seized Digital  
Using Opera's mail client:

Bit coins not cash! Not as anonymous as thought!

From: Rod 
To be fair this level of transparency does change things but it isn't a  
digital cash (nontracking system).

shoot me now for starting a bitcoin thread.

Using Opera's mail client:

Homeless, unemployed and surviving on bitcoins (WIRED Article)

From: Lynn Dixon 
Figured I would share this article with the LUG:

OT: one for Stephen

From: Stephen Kraus 
Niiiice. But its middle of the month, so I'm spent.

On Thu, Sep 19, 2013 at 4:07 PM, Ed King  wrote:

> I think this located relatively close to you
> only $50 cash, no bitcoins

OT: one for Stephen

From: Ed King 

I think this located relatively close to you

only $50 cash, no bitcoins

Chugalug Digest, Vol 14, Issue 36

From: Mike Robinson 
You bring up several interesting points, answered inline:

>> "The perfect currency unit" today is probably "the ACH wire-transfer =
data packet."=20
> Oh dude.. you opened up a BIG can of worms. ACH is not the same as a =
Wire although they are similar.=20
> They are fairly well controlled "file formats" [...]
> You are talking about a transport method, a file format, a set of =
rules for transferring the government issued and controlled currency we =
commonly call a "dollar".=20

My point was that the ACH and wire-transfer systems are ... systems, =
supposedly "secure" ... by which "Money" (strictly by-agreement) can be =
transferred in real time from one place to another.  Any "government =
issued and controlled currency" can be transferred in this way, and such =
transfers are accepted by all concerned ... without the need for =
lugging-about gold bricks or printed paper.

> Bitcoins have value because people agree that they do. Dollars have a =
value set by the government AND various entities (other governments for =
example) AND the general population reaching a consensus.=20

"Only" because people (currently) agree that they do.  If someone stole =
your Dollars, and you could catch them, then you could put them in jail =
and make them give you your Dollars back.  Bitcoins, on the other hand, =
are "barter trade units" in the eyes of the law:  "someone stole your =

> Gold has intrinsic value, Bullets have a more easily used by common =
people (that own guns) intrinsic value. A gallon of potable water has =
intrinsic value.. Food has intrinsic value.=20

All of these things have "intrinsic value" only to the extent that they =
are desirable.  Gold has been capturing the human imagination for =
millennia because it is pretty, malleable, and rare.  (It has a =
different sort of "intrinsic value" to an electrical engineer.)  A =
gallon of water is priceless in the Sahara; or about 80=A2 at the Golden =
Gallon.  Food is priceless to a starving-man, or on the dollar-menu at =
Wendy's.  (Maybe.  Heh...) =20

> Dollars and bitcoins, litecoins, and other "non-anchored" currencies =
have values that we, as a society mostly agree on.

The =3Didea=3D =3Dof=3D a "Dollar" has value.  The number in your =
bank-account "has value" because, well, "because you can spend it."  =
Likewise the plastic cards in your wallet.  Furthermore, if someone =
misappropriates your account, or your wallet, you have legal recourse.  =
Your deposits are guaranteed up to a quarter-million dollars ... and it =
does not make the slightest bit of difference to you where those =
replacement Dollars came from.

> They are easily exchanged and transported.=20

More specifically, they are "fungible."  "Able to replace or be replaced =
by another identical item; mutually interchangeable."  They can be, by =
agreement, "transported" (and "exchanged") by computer.  They are also =
=3Dliquid.=3D  We will never run out of, say, Dollars.  We will increase =
the supply as necessary to ensure that anyone who wants to settle a =
transaction using Dollars has, by definition, access to sufficient =
Dollars to do so (if he is entitled to possess them, and sometimes even =
if he's not).  If there was even the slightest hint that this were not =
so, we would instantly have "a run on the banks."

> If Bitcoin reaches critical mass for larger transactions it will =
change international commerce in interesting way.=20

Bitcoin is fundamentally based on the idea of "artificial scarcity."  =
They are "gold nuggets hidden in a vast quantity of dirt."  They are =
perceived as valuable to you because they are hard to get, and because =
they are perceived as "things," that is to say, "unique."  A dollar, on =
other hand, is not unique at all.  You don't get them by digging a hole =
in the ground.  (Most of us get them by writing computer programs; some =
do it by selling food and water at Wendy's.)  But it is their very =
"scarcity" that makes them unusable as "a medium of exchange."

"Money" doesn't have "value."  "Money" is a medium of exchange; nothing =
more or less.

The "scam" issue arises from, not any technical fault of bitcoin per-se, =
but rather of human nature:  "money for nothing."  People can be and are =
persuaded to pay $5,000 USD for, literally, "a money-making machine."  =
The system is based on "trust," basically in the complexity of a =
computer algorithm and on "one another" (most of whom are people you =
have never met and never will), yet it lacks recourse.  Thus, the =
perception that "this IS a nugget of gold" can be fostered, and, having =
thus been fostered, it can and therefore will be abused.  The one =
sure-fire way to turn a bitcoin into a fungible unit of currency is to =
build and to sell a money-machine for $5,000.  (I don't see them saying =
that you can pay for 'em in bitcoin.)

I have, personally, stood in the "sanctum sanctum" of a working gold =
mine:  the final step, in which a thin stream of gold is clinging to a =
certain spot on the shaker-table and this stream is carefully scooped =
up.  (Other heavy-metals are basically discarded.)  There is a GLEAM in =
the eyes of the people who work for that mine when they stand in that =
room.  You know not to take one step closer to that table; not to make =
the slightest move.  They're nice gentlemen and you've been with them =
all day, but ... but ...  but.  "Gold Fever."  It is real, and it is an =
inextricable -- and exploitable -- part of our human nature.