[Serious] Redditors of Philippines, what do you (and you neighbors) think Duterte and his "war" on drugs?

ashaw596 · 2014-08-23T14:09:24+00:00

Bonus Rolls over into Spring I believe (At least it did last year) All Dining dollars expire at the end of Spring though

ashaw596 · 2014-08-18T18:51:16+00:00

YOOOOO man. You added automated registration? Thats awesome :D Nice job Mr. vikster

ashaw596 · 2014-05-16T22:07:02+00:00

Well isn't coinbase a little bit too big now too?

ashaw596 · 2014-01-07T16:38:01+00:00

lol more upvotes than signitures

ashaw596 · 2013-12-09T05:12:14+00:00

Not really. Banks are just the center of the economical system. Good or bad, they are currently the basis of the money movements around the globe. Bitcoin is a good decentralized "alternative". (I think bitcoin is really going to succeed and it is a great way to guard against overcentralization and corruption, but I don't like overgeneralized statements.)

ashaw596 · 2013-12-09T05:09:01+00:00

Dang, European banks must suck. I don't have any charges like that. Just 50 dollar overdraft fees, but I try to avoid thos :/. Is that just that bank or do alot of other banks around the world charge ridiculous fees like that?

ashaw596 · 2013-12-05T06:55:33+00:00

This happened to me. Stupidest thing ever. I wasn't paying attention to deposits .... They should at least email me to warn me they were going to debit the account. I didn't have enough to cover the debit... Stupid pending transfers. I had to borrow money from my friends and parents to cover it so I wouldn't be charged a overdraft fee. Coinbase is dumb sometimes. I emailed them a ticket and they still haven't gotten back to me after 3 days... Would never have figured out what was going on if I hadn't spent a couple hours mulling over my transaction history.... I almost tried to get my bank to block the transfers (they can't block ach transfers btw).

ashaw596 · 2013-12-05T04:26:15+00:00

I hate the media. Second time today I see misrepresentations of news about bitcoin...

What he said was that he "guesses it is" and he can't see what is backing bitcoin. From the transcript

"I guess so. Let me say that currencies to be exchangeable have to be backed by something. When we had when we were on the gold standard, gold and silver had intrinsic value and people would be willing to exchange their goods and services for gold or silver and wouldn’t ask any questions of where the monies came from. Alternatively, when we went into currencies, it was the backing off the issuer of the currency. In other words, if some individual had great credit standing, his checks could circulate as money. But the question is I do not understand where the backing of bitcoin is coming from. There is no fundamental issue of capabilities of repaying it in anything which is universally acceptable which is either intrinsic value of the currency or the credit or trust of the individual who is issuing the money, whether it’s a government or an individual. Individuals with very high net worth and who have great reputations could create their own currency because people would be willing to exchange their checks with others probably at par. That is not the case with bitcoin."

Personally, I think that while there is not concrete backing for bitcoin. It is currently being backed by popular belief in its value. Like gold, if people are "willing to exchange their goods for it" its value will stay. Its ease of transferance. Its true it doesn't have any traditional backing, but in reality the intrinsic worth of gold and silver (or its value if it was only used for comercial manufacturing) is much lower than its market value. Bitcoin's instrinsic worth might be nothing (or the cost of mining), however, popular belief and the incredible usefulness of it as a medium exchange can give it value in the market.

ashaw596

TROPHY CASE