43 karma · joined December 9, 2013
The income tax is 2%.
So if you are paying more than that, you are probably getting ripped off.
That could never happen in a free country.
Also there's nothing stopping someone from evaporating the coins via mining fees. So you'd have to have dictatorial control over all miners as well.
...Which we most definitely do not have.
That could never happen in a free country.
I have been a faithful Apple user for years, but this single report causes me to seriously consider switching to Linux for good.
Or does Dropbox have the power to pilfer through my data, along with official snoopers and hackers?
With my own phone, I'd love to be able to switch that off/on. Why is that option not available to me?
So then why do people need permission from government councils in order to compete in Internet access?
Rather, it has to do with trust issues arising from the fact that I lived through the 90s and I remember what it was like when MS was dominant.
Unfortunately Apple is stepping into the same hubristic trap. I will probably have trouble trusting them for decades as a result.
Bitcoin can be used for proving notice. (Replacing say, newspaper classified ads for the same purpose.) Bitcoin will become the ultimate notary.
Bitcoin makes it possible to wire gold. For example, you walk into a gold shop and hand him some physical gold in return for BTC, which you send to your grandma in Asia. She then walks into a gold shop in Africa and leaves with physical gold.
...Thus, Bitcoin can be used for wiring anything.
Bitcoin, via colored coins, makes it possible to issue real-world assets without having to trust a central entity to control the ledger.
Bitcoin makes it possible to run exchanges anonymously, at a profit.
Similarly, Bitcoin makes it possible to operate bazaars anonymously at a profit. (Silk Road being one infamous example.)
Similarly, Bitcoin makes it possible to operate prediction markets anonymously at a profit. These have the potential to drive scientific progress as well as political change.
...Basically, Bitcoin makes it possible to operate many many things anonymously at a profit.
Bitcoin makes it possible to eliminate capital controls. There's the basic concept of using Bitcoin to move funds across controlled borders, but it goes much deeper.
...For example, let's say that there are capital controls in Argentina, which drive up the Bitcoin price to 130% of its price in the USA. This means that a beef exporter in Argentina, who prices his beef in Bitcoins, will be able to undercut all the other Argentinean beef exporters by 15%, while simultaneously earning 15% more money for his sales. Therefore Bitcoin is destined to eliminate all capital controls.
Weren't all these people collaborating with authorities at the expense of our liberties -- and aren't they still?
But BTC is trading for over $900 now... and plenty of people are paying.
What you do not understand is that Bitcoin is a new technology, that gives us capabilities that we never had before. Just like other powerful new technologies, it will slowly eat its way through every aspect of society until it has changed the world and everyone's life.
The same as happened with electricity, with the computer, with the Internet itself.
If you want to know where Bitcoin is going, take a look at the adoptions of other important technologies:
http://www.uversity.com/blog/wp-content/uploads/2011/07/Comm...
Of course then the people suffer as all their food and education are cut, and the New Yorker writes articles saying "Austerity Doesn't Work."
But in fact what they should be saying is, "Coercing Money From People Is Wrong." That money never should have been coerced in the first place. Then the people would have been able to spend it however they wanted, instead of having to get all upset that a bunch of politicians and bankers blew the money (surprise, surprise.)
The people should also be ashamed of themselves to whatever degree they voted for coercion in the first place. They were bribed into doing so by promises of services -- services they didn't get -- the promise of which was enough for them to justify in their minds the robbing of their fellow man.
Well when everybody is robbing everybody, only poverty can result. The moral of the story isn't that austerity failed -- it's that we shouldn't be violating people's property rights in the first place, and we certainly shouldn't be bribing others to vote for it.