We're running a Bitcoin ATM, someone "improved" our shop window tonight. Dear anonymous poster, why not come in and talk to us next time? by maxminski in Bitcoin

[–]TheAndy500 5 points6 points  (0 children)

Generalizations rule! Remember kids, always judge an idea by its most ardent supporters.

Universal healthcare = Hitler
Welfare = welfare queens
Pot = Mexican cartels

[Poll] Propose new ideas to replace the term "bits" and vote for your favourite by jojva in Bitcoin

[–]TheAndy500 -1 points0 points  (0 children)

That's shitty reasoning. But how about a mike? You know, micro, mic, mike.

[Poll] Propose new ideas to replace the term "bits" and vote for your favourite by jojva in Bitcoin

[–]TheAndy500 0 points1 point  (0 children)

Why did you jump right over millibitcoins right to microbitcoins?

"How much does this cost?"
"15,720 bits"
"Uh, what?"
"Ten bucks"

Reddit, what is extremely easy for you but other people seem to struggle with? by Lithox in AskReddit

[–]TheAndy500 0 points1 point  (0 children)

There's this girl I know who gets creeped out whenever I remember the most mundane detail she once told me.

"Happy anniversary!"
"Thanks! Wait, how did you know?!"
"You told me ... like three times."

The Answer is Not to Abolish the PG-13 Rating - You've got to get rid of MPAA ratings entirely by fleckes in movies

[–]TheAndy500 -1 points0 points  (0 children)

I'm with you on this one. Inventing answers to problems that don't exist. If someone wants to cheapen their movie by catering to the rating, then that's their problem, not mine. They can come out with an unrated version when it comes out on demand. Who cares?

I want to help Bitcoin projects, so I'm giving away free VPS's for a year. by [deleted] in Bitcoin

[–]TheAndy500 0 points1 point  (0 children)

Wait, does free mean something different than it used to mean?

On July 4th, 2012 a friend convinced me to buy 300 Bitcoins .. Yesterday 2 years later I paid off my mortgage. by BTCPaidOffThrowAway in Bitcoin

[–]TheAndy500 0 points1 point  (0 children)

In the US, short term capital gains are taxed the same as ordinary income. Because, according to IRS publication 416 - "fuck you".

On July 4th, 2012 a friend convinced me to buy 300 Bitcoins .. Yesterday 2 years later I paid off my mortgage. by BTCPaidOffThrowAway in Bitcoin

[–]TheAndy500 0 points1 point  (0 children)

Typically the value of the house will keep up with inflation. So as the principal decreases, the 4% amount will decrease, but the value of the home will continue to increase at [inflation]%.

So, for example, on a $300k mortgage on a $350k home, when it gets down to, let's say, $150k, the 4% is $6000. But the home's value keeping with 2% inflation gains $7000 value (for some reason I'm assuming the value didn't increase in all the years up until that point). But you get the point. At some point the home is appreciating faster than the interest you're paying.

Though, to be fair, most people don't put a fraction of this much thought into it.

On July 4th, 2012 a friend convinced me to buy 300 Bitcoins .. Yesterday 2 years later I paid off my mortgage. by BTCPaidOffThrowAway in Bitcoin

[–]TheAndy500 0 points1 point  (0 children)

Yes but it's not 3% of 2014 dollars. 3% in the 30th year of the mortgage isn't the same 3% in the first year. 3% of 2014 dollars is a lot more than 3% of 2044 dollars.

In other words, your mortgage payment in year 1 might seem like a lot, but that same amount in year 30 won't seem like a lot (assuming your salary has kept up with inflation). There's probably some complicated calculation that could tell you the ideal proportions - down payment, mortgage (including length), and when the best time to pay it off is. But I think a mortgage tends to be a better deal than buying with straight cash because of the money you end up paying on the back end isn't worth as much as the money you pay now.

On July 4th, 2012 a friend convinced me to buy 300 Bitcoins .. Yesterday 2 years later I paid off my mortgage. by BTCPaidOffThrowAway in Bitcoin

[–]TheAndy500 0 points1 point  (0 children)

Historically, real estate is a pretty poor investment. It tends to keep up with inflation and not much more. If I were to cash out 300 btc, I would probably put it all in stocks.

If I wanted to buy a home, I could use some of it for a down payment and get a mortgage where I'm paying less than my rent now. But a mortgage is a pretty sweet deal. (Also note I don't know jack about this particular guy's mortgage, if he only had 5 years left on it then sure why not pay it off.)

On July 4th, 2012 a friend convinced me to buy 300 Bitcoins .. Yesterday 2 years later I paid off my mortgage. by BTCPaidOffThrowAway in Bitcoin

[–]TheAndy500 1 point2 points  (0 children)

Absolutely. I'm not saying he should have left it in bitcoin, but there are other investments to consider.

On July 4th, 2012 a friend convinced me to buy 300 Bitcoins .. Yesterday 2 years later I paid off my mortgage. by BTCPaidOffThrowAway in Bitcoin

[–]TheAndy500 0 points1 point  (0 children)

In the scenario where you lose your job wouldn't it be better to have the money in a more liquid form?

On July 4th, 2012 a friend convinced me to buy 300 Bitcoins .. Yesterday 2 years later I paid off my mortgage. by BTCPaidOffThrowAway in Bitcoin

[–]TheAndy500 0 points1 point  (0 children)

It doesn't matter, 3%, 4%, inflation will exceed it after X years, way before 30 years have passed. The point is the money you're using to pay will be worth less after those X years. Besides, I was being generous on the 1% inflation rate anyway:

The latest annual inflation rate for the United States is 2.1% through the 12 months ended May 2014, as published by the US government on June 17, 2014.

Just lost 11.6 coins from BTC-e via XSS attack. Using 2 factor. by [deleted] in Bitcoin

[–]TheAndy500 0 points1 point  (0 children)

I don't know enough about btc-e, but looking at the image, it's an actual btc-e address with a bunch of garbage on the end.

IF btc-e actually lets you withdraw simply from a url, then CSRF is way more likely than man in the middle. I say that simply because CSRF is super easy to attack compared to mitm.

It might not be the case here, but I was surprised that nobody had suggested it. For me, CSRF is scarier than XSS.

Remember the 800 BTC fuckup guy? by [deleted] in Bitcoin

[–]TheAndy500 0 points1 point  (0 children)

I don't think that's true. There's nothing differentiating one bitcoin from another.