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Showing 20 of 103 results by nighteyes
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Topic
Board Bitcoin Discussion
Re: Bitcoin Foundation
by
nighteyes
on 28/10/2011, 18:57:02 UTC
As far as I can see, nobody is taking these guys to task.
It is irrational to think that guys with no stake in the game are going to keep falling on their sword, day after day, just because Bitcoin is a great idea (which it definitely is) and they are idealistic. Idealists have to eat too.
Talk is cheap. The guys who have the Bitcoins need to pony up and get behind Gavin with a serious effing fund.


Ive been on em,taking em to task....but I would disagree this is about being rich....its about hoarding or not putting money to work.
They dont have to commit funds right away ala 'give to some org who really is Bruce Wagner'.
What Im looking for is like Tradehill....a step to trust the new org..and a commitment that says 'if the org allows my money to actually be put to work for long-term health, then Im there'.

So what we need is not discussion...but who is willing to be on the board of directors(since they are the ones who determine what the org actually does) or who is willing to volunteer and what can they provide?

Such as Im an accountant, and I know for sure we dont need lawyers to set this up. For my industry, I think the one most qualified should be on the board, and if Im that person, then Im willing. I also am willing to go for a background check(and pay for it), which I think should be part of the process.

Post
Topic
Board Bitcoin Discussion
Re: There's nothing wrong with trading Bitcoins
by
nighteyes
on 25/10/2011, 04:28:06 UTC
But speculation isn't entirely worthless. Greed is human nature, to a large extent, short sellers, day traders and HFT bots actually counter human greed because they believe in price convergence. About 80% of trading in forex market is speculative, but they indeed make the rest 20% better off.

I always believe that the best way to counter bubbles is HFT. HFT bots catch tiny profits and destroy the dreams of greedy "investors". What's buy-low-sell-high? It's price stability.

At the beginning, speculative trading may cause volatility because of the market power being controlled by a few hands. So we need more speculators. They provide liquidity for everyday bitcoin transactions. They bring Bitcoin closer to our real world economy.

Without speculation, we can hardly produce any goods or services in Bitcoins efficiently.

If there's anything harm about speculators, it means we need more of them, not less, in absolute figures. The way to make the pie bigger is to convince real world merchants to accept Bitcoin, but not criticize the speculators and ask them to provide services instead.

Few points:

#1: Hoarding bitcoins is not like putting money in a bank. The money on "forex" is not being hoarded...its being put to use. The forex acct doesnt take physical receipt of the money and just sit on it.....unlike you. At best, the money you get is working for the govt economy, not bitcoin.

#2: Bitcoin speculators dont provide liquidity....all traders do is seize up the supply and hope the price rises....creating an artifical bubble of higher prices....making it more EXPENSIVE and thus less work(and trading) gets done. All they do is create paper profits and losses, not economic gains. The only people you get to trade are more speculators.

#3:  The problem with speculative bubbles of your kind is they are leveraged....so not only is something amiss, we dont even know if you can handle the exposure and all your contracts can be unwound. That includes depending on you not to bet against your customers.

Its kind of interesting that you are so against providing your bitcoins to be put to use. Im always looking for that in any currency, since that means interest on my holdings. You make it sound like this is OWS(Occupy WallSt)....not the case. A growing bitcoin economy only makes your position better in the long run.

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Topic
Board Beginners & Help
Re: What does bitcoin need?
by
nighteyes
on 20/10/2011, 20:32:22 UTC
Wow, so many votes already in but so little posted in the thread itself...
There are still only ten votes. and it has been up for several hours.  I was the first to vote and post.  However I think that the OP has a good thing going.  This can lead to others trying to help create great programs and things for miners.

Im not trying to change any project directions....this poll is really just bitcoiners and doesnt include the public. Not to mention the lack of pay means most are(and should be) persuing what they want. My intention is to start another thread based on the top vote getter....and try to do some followup...try to solicit (anonymous?)professional advice as well on where the bitcoin community stands....aka the 'lowdown' Smiley... I haven't quite figured out what I can do yet, but figure there can be meaning in all of this.

Post
Topic
Board Beginners & Help
Topic OP
What does bitcoin need?
by
nighteyes
on 20/10/2011, 02:21:10 UTC
I know I have to update the poll...just post if I missed something.

Option 1 - the user interface and what it can do
Option 2 - something that secures wallets even more so than now or is more apparent
Option 3 - sharing wallets, auto payments...
Option 4 - 6 confirms takes too long
Option 5 - the blockchain has too much data
Option 6 - dont depend on 3rd party exchanges such as Gox
Option 7 - eek, I want my bitcoin to be less fiat.
Option 8 - Too few merchants accepting bitcoin
Option 9 - smartphone is the future!
Option 10 - Target the shadow economy...Silk Road, etc
Option 11 - I hate hoarders
Option 12 - For the good
Option 13 - I want to buy with Paypal arrggghhh
Option 14 - I cant trust no one...
Option 15 - Make it easier for more programmers to dig in
Option 16 - save the world by saving bitcoin's price to other fiat currencies
Option 17 - not sad, but I wouldnt mind a better forum

Edit:Added Option 18: needs Public Relations
Post
Topic
Board Bitcoin Discussion
Re: Media : Bitcoin is Done
by
nighteyes
on 18/10/2011, 21:09:51 UTC
The only thing bitcoiners can do is to fight the hoarders as much as they can. Dont use MtGox and bitcoinica and send a message to the hoarders.

Fight the hoarders? Is the money I worked hard to earn, which I then put into the bitcoin economy in order to boost is value and get some bitcoin to hoard, not worth anything? Sure, I may not be working directly for bitcoin, but it's not as if I just pulled my hoarded bitcoin, or the money used to buy it with, right out of my ass.

I empathize with you, since there is no decent way to lend or invest unused money for the average joe....if one holds 50 bitcoins and then donates 50% to programming efforts, it wont do squat when Mt gorilla Gox sits still.

I just keep saving away USD in case things improve....hoarders get no bailout from me. Its either spend,sell, or die....and the more you get rid of the ability to 'sell', the better of it is right now. I dont know about the merchants....an exchange that just allows merchants to sell into USD;D


Post
Topic
Board Bitcoin Discussion
Re: Media : Bitcoin is Done
by
nighteyes
on 18/10/2011, 20:17:27 UTC
Bitcoin can't go away. Its impossible even if 75% of the user base uninstalled their clients.

You have Solidcoin salivating and planning his revenge over and over with the doublespend attack when the network power drops to that level.
Post
Topic
Board Bitcoin Discussion
Re: Media : Bitcoin is Done
by
nighteyes
on 18/10/2011, 20:12:50 UTC
Hey, if Bank of America can go from $54 to $3 and still not be done, why can't Bitcoin?

Because the entire BofA is working to increase profits....so its an unknown whether or not they will survive(I hope not but thats another story). Bitcoin....imagine 90%+ of an organization's employees not working, nor can they be forced to work. If the 10% want to work for the other 90%, then thats fine with the 90%. The 90% have proven(by taking a 99% decline) that they arent going to work. They certainly dont care if bitcoin goes to 1 penny or even zero.

The only thing bitcoiners can do is to fight the hoarders as much as they can. Dont use MtGox and bitcoinica and send a message to the hoarders.



Post
Topic
Board Speculation
Re: The Great Bitcoin Collapse of 10/17/11
by
nighteyes
on 17/10/2011, 16:46:38 UTC
It may be a good thing, anything that does not kill you makes you strong.  The selling will wipe out the bears allowing those with more holding powers to stay on.

Nope....hoarding bitcoins will never work. All that confidence game does is lower lows and lower highs.
No one should do the work for the hoarders...even at 1 cent.

Lets see what the next group of bag holders has to say...this group was amusing, and people like Immanuel Go never did see that they were the ones duped.
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Topic
Board Bitcoin Discussion
Re: The Bitcoin Show on OnlyOneTV.com
by
nighteyes
on 14/10/2011, 21:29:48 UTC
The one thing that has always frustrated and confused me about Americans is how they simply refuse to learn from others, and keep trying to figure out and fix things themselves. We have countries with thousands of years worth of trials, errors, and fixed mistakes to learn from, but America, being only 250 years old, thinks it knows better and can figure things out better on its own. We have tons of other education systems to examine, from places that are kicking our ass when it comes to math, science, and culture. Why are we so arrogant that we forcefully put on blinders and just keep throwing shit ideas at the wall to see what sticks, or trying to throw money at the problem to make it go away, instead of picking the best ideas from all parts of the world to be the best period?

Its all about the $$$, the free market at work. First, the 'new' ideas are not intended to work....as Piper67 knows. They are simply part of the sales pitch. If you actually do something, then your long-term business falls apart...you gotz to keep them coming back.

You give the sales pitch, and the school district buys into it. They do so because when they retire, they work for the sales company.  BTW, if other countries ideas actually help sell learning products here, they would be sold. But parents who want to feel like they are being parents(and in denial how they neglect their kids) prefer this hypnosis. They also prefer feeding to be overweight(such as pizza), looking at the sandbox(aka TV), or anything else that results in quick parenting....I understand it, dont get me wrong. Who has the time to actually act responsible for their kids? Heck, who has the time to act responsible for themselves?
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Board Politics & Society
Topic OP
I just got some more govt value !!!! A new law banning hats
by
nighteyes
on 14/10/2011, 20:06:31 UTC
http://losangeles.cbslocal.com/2011/10/13/hats-off-or-get-out-valley-stores-lapd-to-ban-headgear-in-anti-crime-effort/
Quote
...Under the program, a “warning notice” will be placed in the window of a business that caters to walk-in customers “to allow the customer time to remove their hat, hoodie or helmet” before entering, LAPD officials said.
If they refuse to comply, “they’d be in violation of penal code 602, which is essentially trespassing within that business,” said LAPD Capt. Justin Eisenberg....

Because robbers really care about being issued a trespassing ticket when they rob

and we dont need anyone buying hats,hoodies or helmets. Kiss



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Topic
Board Beginners & Help
Re: Silk Road was the best thing that has ever happened to Bitcoins.
by
nighteyes
on 14/10/2011, 18:27:00 UTC
There is no real commerce in bitcoin, including SilkRoad. Exchanging USD for BTC for USD only stabilizes BTC, not adds value. It does add value to the USD economy and profits to MtGox and the vendors selling their wares.

Probably 90%+ of bitcoins are being hoarded and not put to use. "Invest" a million USD into bitcoins and you get 13 cents of fiat paper value back, or a loss of 99.99%. The rest goes to the ballerz aka speculators aka the freeloaders.

Now SilkRoad COULD be gigantic to bitcoin, if the vendors complete the economic cycle and dont cash out or hoard. This possibility is what gives bitcoin hope, as a backup to the gov currencies. If the gov currencies stop working out, you can bet theres going to be a lot more interest in bitcoin.

But again, while the gov charade continues, no one cares...you are right. But when the credit card stops, which it will, and reality hits, hopefully something like bitcoin will be around to ease the suffering. Until the time of the NEW US dollar/gov currency...and then we play the game again...heck, the new USD could be a digital currency!
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Topic
Board Bitcoin Discussion
Re: 0.1% guys hold 50% Bitcoins, that's too CENTRALIZED!
by
nighteyes
on 13/10/2011, 22:20:12 UTC
Stealing resources from people who have harmed nobody is not okay.


Thats a loaded sentence.

"Steal"...implies illegal...worthless, see 'asymmetrics of will'.

"resources"...implies private property....but where? Most resources are not stored on private property. If its at a bank, thats not private property....a corporation is a government creation and not covered by the rules of civilization.

"harmed nobody"....worthless....unprovable and unlikely. Are you saying they never harmed anyone or anything? Because if they did, thats OK, as covered by asymmetrics of time.

"not okay"....well its OK if war is undertaken....hehehe, are they playing war drums?
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Board Bitcoin Discussion
Re: 0.1% guys hold 50% Bitcoins, that's too CENTRALIZED!
by
nighteyes
on 13/10/2011, 22:05:28 UTC
Good! But again, anger at "the wealthy" is not correctly targeted. The wealthy are not inflating anything. It's the central banks (The Fed in the US), the politicians who permit it, and the public who votes for those politicians (poor and rich alike). Those are the valid targets of ire.

I think Satoshi deserves a lot of the blame....or the devil(these 2 could be connected if you see black helicopters flying outside).....but as far as targets go though, anyone and everyone is a target.




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Topic
Board Bitcoin Discussion
Re: 0.1% guys hold 50% Bitcoins, that's too CENTRALIZED!
by
nighteyes
on 13/10/2011, 18:10:09 UTC
Possibly relevant to most of the free market/government intervention discussion:
In the case of bitcoin, I'm not sure if the apparent disparity will really be a problem in the long run. The network (and markets based on it) are not able to distinguish between a hoarded Bitcoin and a lost bitcoin. The value of bitcoin will always be based on coins actually in circulation. The biggest risk is that some of the large holders suddenly decide to sell everything, crashing the price (by putting more coins in circulation).
The profit-maximising hoarder would be wise to sell their coins as slowly as they can; unless they expect the value to eventually drop to zero (I think it will approach that within about 25 years, but not the near term). Selling coins puts them back in ciculation: likely spreading them out among more holders.

Its already a potential game ending problem....not many are going to work for the 75% hoarder community like Immanuel Go who sit on azz.

Contribute $1 million and you get 13 cents reward(and declining). Dont worry, Immanuel Go et al will take credit for rise in bitcoin price too. If you disagree, you are just a "hater" of the "ballerz". Your haterade is just jealously to them.

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Board Beginners & Help
Re: Scammer...
by
nighteyes
on 13/10/2011, 04:21:05 UTC
Not a bad idea....maybe everyone should start of scammer until proven otherwise.
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Topic
Board Bitcoin Discussion
Re: Surely this isn't a 51% attack on bitcoins, right?
by
nighteyes
on 12/10/2011, 21:42:04 UTC
So now what? Game over?

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Topic
Board Bitcoin Discussion
Re: 0.1% guys hold 50% Bitcoins, that's too CENTRALIZED!
by
nighteyes
on 11/10/2011, 19:29:35 UTC
You guys realize that at least 2-3 of those are stolen from Mybitcoin,  MtGox's hack,  the polish exchange hack,  bitcoin7 hack, the guy that had 25,000 coins taken right from his desktop...   literally you are staring at a criminal's bank account and can't do anything about it.

Bitcoin is a tea party dream....   and look how it worked out in those instances.

I love how no one replied to that one.

I still suspect one of the major holders is MtGox....anyways it doesnt matter who is holding them as much as the fact that they are hoarding it. So not only does the bitcoin economy have to produce $$$ for new coins, there is a 50% tax to give to these lazy hoarders....well the true tax is probably 90% because the other 99% is just holding onto them as well....it all adds up to a STRONG SELL on the value of the bitcoin vs USD IMO.

Its just something no one saw coming. What forces anyone to work in the bitcoin economy? Nothing....the volume will slow and eventually these types lose interest in the get rich quick scheme....they will sell part of their holdings...watch.
Post
Topic
Board Speculation
Re: Price halved, miners leaving, is there a future for a market?
by
nighteyes
on 07/10/2011, 20:16:05 UTC
the people who are leaving, failing or giving up are those who are short sighted seeking instant rewards from get rich quick atitude. the community will be much better off without them.

It just lowers the price of gambling for them. They will be replaced with the penny-stock yahoos who will say or do anything to control someone to pay them a higher price. The place will be overrun with trolls.And if the USD price returns, it will return the same type of knuckleheads.

However, the bitcoin network will hold up is my guess. And the one good thing is the hoarders influence should diminsh with bitcoins being circulated much more freely.

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Topic
Board Bitcoin Discussion
Re: Satoshi's 20,000 BTC?
by
nighteyes
on 05/10/2011, 23:34:54 UTC
Speculations and beliefs are not sufficient to win an argument but that's not the point. Fact is, that you don't know who owns how many Bitcoins and what he/she has or has not contributed to Bitcoin.

I'm honestly not even sure what you want - if somebody has mined a couple thousand BTC, stashed them away for long-term savings and now regularly buys some BTC to spend them within the Bitcoin-economy he is an evil hoarder? Does it matter if he saved the BTC in order to send his kids to college in a few years or to be able to afford treatment should he ever get sick? Is such saving only allowed in USD or real-estate by your thinking?

Anybody holding BTC long-term and not selling them for something less volatile is a believer in Bitcoin, as it might very well be that they lose all their value. If you don't believe in Bitcoin that's fine, but please don't complain about those who do.

I dont think savings is hoarding. I think savings is really lending or investment.
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Board Bitcoin Discussion
Re: Satoshi's 20,000 BTC?
by
nighteyes
on 05/10/2011, 21:13:21 UTC
Seriously though, there's absolutely no way you can back up this statement - you don't know what Satoshi or any other "hoarder" does for Bitcoin.
The more BTC one has, the higher his/her incentive to help Bitcoin succeed. Apart from this natural tendency there's nothing you can do really to force people to contribute or determine what they have to do with their money.

If they were spending coins, I would speculate the USD price per bitcoin would be much lower and not have risen as high. Whats not a speculation I believe is that they would be out of hoarding coins by now if they were in fact spending, therefore I win the argument either way Tongue

The other part bitcoin2cash summed up...if you dont like it, leave bitcoin....hey thankfully, he didnt mention if you dont like it, kill someone and their whole family and anyone they know Shocked