api call girl posted:

I change my vote to


5s

Herman Merman posted:

so if I'm reading this right Gavin is a Salvor Hardin type whereas this Andreas guy is more like Hober Mallow, each in turn guiding the Bitcoin Foundation through a Satoshi crisis to save humanity from a dark age of 30000 years without capitalism

I bet bitcoiners will be pissed off tho when the Second Bitcoin Foundation takes over
it's the Dogecoin Foundation

ayn rand hand job posted:

the invisible hand of the free market has relieved the pressure of corrupt business practices in an eruption

quote:

ATHENS, Ga. — PEOPLE like to complain about banks popping up like Starbucks on every corner these days. But in poor neighborhoods, the phenomenon is quite the opposite: Over the past couple of decades, the banks have pulled out.

Approximately 88 million people in the United States, or 28 percent of the population, have no bank account at all, or do have a bank account, but primarily rely on check-cashing storefronts, payday lenders, title lenders, or even pawnshops to meet their financial needs. And these lenders charge much more for their services than traditional banks. The average annual income for an “unbanked” family is $25,500, and about 10 percent of that income, or $2,412, goes to fees and interest for gaining access to credit or other financial services.

But a possible solution has appeared, in the unlikely guise of the United States Postal Service. The unwieldy institution, which has essentially been self-funded since 1971, and has maxed out its $15 billion line of credit from the federal government, is in financial straits itself. But what it does have is infrastructure, with a post office in most ZIP codes, and a relationship with residents in every kind of neighborhood, from richest to poorest.

Last week, the office of the U.S.P.S. inspector general released a white paper noting the “huge market” represented by the population that is underserved by traditional banks, and proposing that the post office get into the business of providing financial services to “those whose needs are not being met.” (I wrote a paper years ago suggesting just such an idea.) Postal banking has a powerful advocate in Senator Elizabeth Warren, Democrat of Massachusetts, who has publicly supported the plan.

The U.S.P.S. — which already handles money orders for customers — envisions offering reloadable prepaid debit cards, mobile transactions, domestic and international money transfers, a Bitcoin exchange, and most significantly, small loans. It could offer credit at lower rates than fringe lenders do by taking advantage of economies of scale.

The post office has branches in many low-income neighborhoods that have long been deserted by commercial banks. And people at every level of society have a certain familiarity and comfort in the post office that they do not have in more formal banking institutions — a problem that, as a 2011 study by the Federal Deposit Insurance Corporation demonstrated, can keep the poor from using even the banks that are willing to offer them services.

Many will oppose the idea of a governmental agency providing financial services. Camden R. Fine, chief executive of the Independent Community Bankers of America, has already called the post office proposal “the worst idea since the Ford Edsel.” But the federal government already provides interest-free “financial services” to the largest banks (not to mention the recent bailout funds). And this is done under an implicit social contract: The state supports and insures the banking system, and in return, banks are to provide the general population with access to credit, loans and savings. But in reality, too many are left out.

It wasn’t always this way. In 1910, President William Howard Taft established the government-backed postal savings system for recent immigrants and the poor. It lasted until 1967. The government also supported and insured credit unions and savings-and-loans specifically created to provide credit to low-income earners.

stoutfish posted:

does anyone in japan even care?

Endless Mike posted:

i know someone who went there and now he's game developer in a large studio so *shrug*

Same Great Paste posted:

i don't understand how an adult human can say this in tyool 2014.

how long until somebody makes a btc phone app that does the "pay the correct amount to the correct address with zero fees, and simultaneously send your entire balance to an alternate wallet less a transaction fee" trick by default while appearing as a known and trusted app? if it doesn't already exist?

FCKGW posted:

bottom


top

Sham bam bamina! posted:

i'm the sk8er hat

surebet posted:

[–]evian11 1 point 5 minutes ago
Wow Tux in a suit and some damage control at Gox for once... has /u/bruce_fenton been in touch?
Call me insane but I may be sending some money to Gox to get some of those cheap coins.
*edit for missing words and insanity

Happy Noodle Boy posted:

I don't know the details enough to know if he's exaggerating but Argentina IS hosed financially.

Robawesome posted:

water and food have no intrinsic value

andreas m. antonopoulos
genius

scarcity is intrinsic value

andreas m. antonopoulos
genius

Konjuro posted:

drat this Antonopolous guy is delusional:

Laws are religion!

We should decentralize laws!

Make a blockchain of laws. The LawChain



fffffffffffffffffffffffffffffffffffffffffffff

Dr. Honked posted:

christian science monitor has its finger on the pulse

http://www.csmonitor.com/Business/2014/0212/Bitstamp-halts-transactions.-Is-Bitcoin-too-Libertarian-to-succeed


there's an awesome quiz



a plaything for the rich

Plank Walker posted:

Werthog 95 posted:

wait i'm an idiot

computer parts posted:

i wasn't paying attention and I thought this was hitler

Robawesome posted:

Help! My parents wouldn't let me buy bitcoin, so I took the advice of a Redditor and had them pretend I bought some. Now they're refusing to let me sell! (self.Bitcoin)

submitted 4 minutes ago* by ThrowAwayAllDaBTC

Okay. A while back I wanted to buy BTC. My parents wouldn't let me. I offered to give them money and they'd have to pretend I own BTC, and buy it back when I'm ready to sell. That way, if it was a ponzi scheme like they thought, they're the oens who profit. They agreed.

I spent every dollar I had in my savings account and sold some of my electronics so that I could buy some. I "bought" 14 bitcoins at $750 each. Once I saw them get down to $600 I started panicking and tried to "sell."

They went onto MtGox, checked the price, and told me they'd give me my money when they had a chance.

But then they changed their mind. They decided that because people on MtGox can't get their money, I probably wouldn't be able to if I had actually bought them, and they're not going to pay me back until the people on MtGox get theirs back.

This is loving ridiculous. They're scamming me out of money. They're both really loving rich (my mom owns a law firm and my dad is a businessman), so this isn't a lot of money to them, but it is to me. And I was already willing to take a loss.

Not to mention I probably WOULDN'T HAE loving USED MTGOX

transfatphobic posted:

$10500.

im the child who can wrangle up $10500.

Dr. Honked posted:

uh oh now there's two of him

Jonny 290 posted:

they tried but there really wasn't any interest

Cease to Hope posted:

i'm the hot-poo poo netsec spearhead from the hackerspace

FrozenVent posted:

what if the matrix was a giant mining rig and we're just blocks in the chain?

Crust First posted:

Heresiarch posted:

i'm imagining that dirty jobs episode now

...! posted:

Very cool comment Andreas made on "Let's talk Bitcoin" (self.Bitcoin)

submitted 2 hours ago by Sharpiedeluxe

I don't know why it never occurred to me before, but Andreas made a comment on a cool technique to safeguard your Bitcoins. He said that if you have a script monitoring your public address, you could have it watch for any unauthorized transfers. In the event that someone tries to steal your coins, just immediately force a transaction to a safe wallet with a high transaction fee. Since the network will include the higher fee tx faster in the block, then it propagates faster.

95% of my bitcoins are stored on paper, but I think I'm going to set this up anyway. I kind of feel like an idiot for not realizing this sooner, but oh well.

ArchWizard posted:

Satoshi is Hari Seldon and his hologram only appears to say that the price of bitcoin is going up uP UP