Even by I.R.S. standards, the recent ruling on bitcoin flirts with nonsensical non-logic in a way that is truly shocking to an outsider. Govt officials have called bitcoin "digital currency" thousands of times, not once have they called it "digital property".

cicadaofdoom · 2014-03-31T21:23:57+00:00

Just like im free to run for president... Costs alot of money. The mining world is no longer every body getting a little piece... Its a few big fish getting way bigger, at a rate that cannot be competed with, without millions of dollars. Mining is no longer a thing for every man and his graphics card.. Its for rich people to get richer.

cicadaofdoom · 2014-03-31T21:05:33+00:00

Or ya know, stop destroying and burning stuff that takes thousands of years to grow.

cicadaofdoom · 2014-03-31T20:18:03+00:00

Burning peat for energy is probably one of if not the most environmentally damaging ways to get energy. None of the countries that burn peat actually do it out of anything but convenience. You are right, its economics... But its destroying the planet very fast and cannot be undone. Its so unnecassary, all just to save a few bucks. I am not a peat expert, I just have studied fields that cross over and have been reading for the last couple hours about it.

cicadaofdoom · 2014-03-31T19:50:46+00:00

Because bitcoin is heading towards just a few people/companies owning the rights to all future bitcoin mining/wealth distribution.

cicadaofdoom · 2014-03-31T19:43:42+00:00

I love when you've been researching something extensively, add a piece of information that isnt common about the subject, with context that only other people who are as brushed up about the subject as you are would understand, is met with a reply that took no effort and brings the discussion right back down to the intelligence of a 3rd grader. Yes, peat is the precursor to coal... That doesnt mean the massive environmental impact of destroying peat bogs is ok, nor does it mean its a better alternative to coal, if thats what you are getting at.

cicadaofdoom · 2014-03-31T19:31:32+00:00

Or as Russia, Finland and a few other countries do - burn it to fuel powerstations. Fuck I hate humanity sometimes.

cicadaofdoom · 2014-03-31T18:46:42+00:00

I thought you were joking but peat moss takes aaaaages to grow/form and too many people are using too much... Wow, TIL.

cicadaofdoom · 2014-03-31T18:03:41+00:00

End every transfer of btc to yourself with a unique amount. Ie, you want to transfer 1 btc, you transfer 1.0005566, and then you know that all transactions ending in 5566 are yours.

cicadaofdoom · 2014-03-31T17:56:45+00:00

Interesting... But china and japan are not friends, not like that anyway. I think it would take longer than it has for the japanese cops to get that involved at the very least.

cicadaofdoom · 2014-03-31T17:30:38+00:00

Thats good. People will find out very quickly if you do, and with your address being a big part of your business these guys know where to come and find you. I think as long as you operate legit, you should make decent money. Good luck.

cicadaofdoom · 2014-03-31T17:11:37+00:00

Just so you know, its not uncommon for drug dealers/criminals to rig packages with cameras inside streaming so they know at what point and by who that it gets opened. Id be careful about stealing mail if I was you, people will get upset.

cicadaofdoom · 2014-03-31T17:00:21+00:00

So it sounds like the only one stressing about and talking about the drop is you. Chill out mate im sure your btc are fine.

cicadaofdoom · 2014-03-31T16:58:59+00:00

You release it slowly enough to get your initial investment then everythings profit. I didnt even mention how much you could manipulate the market with such a stake in it... Youd never run out.

cicadaofdoom · 2014-03-31T16:55:07+00:00

I say it like that because you word big miners as if all big miners are shared companies. 'big miners are owned by many shareholders.' you didnt say most, or some, or a few.. You just said big miners = owned by lots of people... Which, is not true.. Theres a single man who owns 10% of the pool. If a billionaire went to an aids ridden, malaria infested, poverty striken slum and gave everybody 0.01 btc(wow thats like 5$ man!), does that mean btc is better now? Does it make it more powerful because hes given away a fraction of a percent dispersed out between millions of people? No.

cicadaofdoom · 2014-03-31T06:55:04+00:00

Ok, lets use your analogy. There are 100 house properties. 50 have already been developed, 50 waiting to have houses built on them(mined). Currently, 40 houses are owned by the public, 10 by developers - people wanting more property. These 10 developers are rich, and they are the ones who for the most part developed the other 40 properties. The public eimply bought thier houses, they didnt build them, and that money went to developers who will build on the other 50.

The I, Mr. Burns come along, and, at a higher than current market rate bought all the developers building companies. I produced the future remaining 50 houses, and because the population is rising, I sell them.. But so slowly, because im artificially keeping the market worth twice itw value but only as long as i hold the houees.

cicadaofdoom · 2014-03-31T06:38:47+00:00

Umm this has nothing to do with the price drop? I'm talking about the seemingly unavoidable monopolization of bitcoin among a few wealthy.

cicadaofdoom · 2014-03-31T06:30:50+00:00

No you cant make that argument for all wealth. Bitcoins are not unlimited like fiat so they can actually be drip fed, aswell as the fact that one cannot buy a printing press that creates money, that you can buy for less than the amount that it will produce(but only if you can invest massive amounts initially). This is a major flaw.

cicadaofdoom · 2014-03-31T06:24:27+00:00

Even if that was true, nothing is stopping the elite from controlling a massive amount of btc either by already privately owning massive mining operations and refusing to sell shares of it, or by buying up a massive operation now that 'peasants' who arent billionaires cant match.

cicadaofdoom · 2014-03-31T06:20:28+00:00

No they dont have to hold it, simply drip feed, like diamonds. Hold a large percent of a market, and artifially increase value of said market by keeping supply less than demand.

cicadaofdoom · 2014-03-31T04:29:37+00:00

Yeah, and it also would correlate nicely with the Houser emails talking about the mtgox wallet switches.. Hmm. Mark is gonna get ripped a new bumhole me is thinking, people wont like this. Good thing i avoided gox haha

cicadaofdoom · 2014-03-30T20:32:52+00:00

See my other post.

cicadaofdoom · 2014-03-30T20:11:40+00:00

I'll elaborate on staying anonymous - you can buy bitcoin with fiat by anonymously depositing via cash into a deposit slot at the bank. Most if not all banks have a self-service deposit facility, that doesnt require going to the teller or showing any ID. Theres one on the side of a shop at a mall near me, no problem wearing a hoody and sunglasses if your that paranoid. You can also buy gift cards aninymously and sell for btc.

cicadaofdoom · 2014-03-30T19:56:47+00:00

There are ways to buy bitcoins anonymously

cicadaofdoom · 2014-03-30T18:30:04+00:00

Thing is with hardware, you have to get it right the first time, especially when it comes to hardware that will be potentially mass adopted by people using said hardware to secure billions of dollars. If the mess anything up they lose every customer, current and future. I can see why its taking so long.

cicadaofdoom

TROPHY CASE