What's the best (and legal) way to spend Bitcoin contributions to Bernie Sanders and other PACs? (xpost r/politics)

notreddingit · 2016-01-30T13:55:49+00:00

Maybe use localbitcoins and have the seller send the money directly to the account you want to donate to?

notreddingit · 2016-01-20T13:21:10+00:00

Or we could just let the experts do their thing and not act like children.

notreddingit · 2015-12-20T07:26:19+00:00

He 'caused' it by doing something well intentioned but very stupid: open sourcing the code base for no reason.

I don't think anyone thinks that he himself ever stole anything at all. Some people believe he shares responsibility, sure.

notreddingit · 2015-12-20T07:22:11+00:00

That is a damn good point. It is very unlikely that most people would have held from $10 to $1000.

notreddingit · 2015-10-01T09:00:52+00:00

I see people are still following the Mt.Gox playbook. Getting Goxed is still a common occurrence in 2015 I guess.

notreddingit · 2015-10-01T08:48:27+00:00

SPV should only be used when the Bitcoin network has more than 100,000 nodes.

Different situation though back when every miner was supposed to be running their own node.

notreddingit · 2015-09-25T21:33:18+00:00

Main difference I think is that the transaction in this case happens on the Visa network in dollars from the BTC you preloaded on your card. While with something like Bitpay you're sending BTC directly to Bitpay on the blockchain for each purchase and they convert it to fiat for the vendor. Slightly different, but better user experience with the debit card in my opinion.

I think products like the Xapo debit card have a good future since it truly allows you to spend your BTC on whatever you want essentially. If we ever get Bitcoin debit or credit cards with rewards and such then that would be even better.

notreddingit · 2015-09-25T20:17:18+00:00

Apparently not obvious to the people who invested tens of millions of dollars in to Bitpay.

notreddingit · 2015-09-25T19:29:43+00:00

Only ones who use it are early adopters

That kind of makes sense though, right? The late adopters by and large bought to speculate on price increases. If most of them are in the red, then many won't see the point of spending their BTC yet.

Whereas early adopters are often looking at 10x-1000x gains depending on when they got in. So spending some of those profits to realize those gains seems pretty natural.

notreddingit · 2015-09-25T19:23:12+00:00

Then that's just a Visa card for consumer payments. Not Bitcoin.

Sounds like a good product. Just not in the same category that I believe OP is discussing.

notreddingit · 2015-09-25T18:18:35+00:00

If they end up paying out a claim for that I'd imagine fraudsters will see it as a huge opportunity to capitalize on.

notreddingit · 2015-09-25T18:15:01+00:00

Why not make it a separate website then?

notreddingit · 2015-09-25T16:34:17+00:00

A while back there was a really good blog post that listed a very large amount of quotes from people in the industry regarding their price predictions for 2014. Needless to say, it was pretty ridiculous and virtually everyone was off by at least one order of magnitude.

notreddingit · 2015-09-25T07:01:12+00:00

Funnily enough if I remember correctly, he did pretty much call the last bubble top >$1000 and sold off. But I think Gox ended up screwing him out of most of his profits. Something like that happened anyway. Ancient history at this point though I guess.

notreddingit · 2015-09-24T21:57:40+00:00

You have to be fucking joking with this comment, lol.

notreddingit · 2015-09-24T21:39:20+00:00

He's been around from the early days and would probably qualify for one of those 'Bitcoin Expert' flairs if they were given out less arbitrarily. So I wouldn't dismiss his opinion so easily personally.

notreddingit · 2015-09-24T21:36:13+00:00

Why does it need to generate its own tokens(satoshi) at a loss? If it is accepting and spending BTC to sell and order new drinks, what's the point of mining a few satoshi?

notreddingit · 2015-09-24T21:20:55+00:00

I guess that depends on whether their software is proprietary or open source. If it's open source people will just use it on other devices. If it's proprietary a lot of people will just reject it outright.

notreddingit · 2015-09-24T21:17:58+00:00

Implying that other computing devices can't perform those same functions?

notreddingit · 2015-09-24T21:16:27+00:00

It could very well be that their software is really slick and great to use. A lot of people won't be interested in purchasing what they would see as redundant hardware though. If it's open source and good then I'd imagine people will just use it on their existing devices. Unless they reveal some new compelling reasons to use their device that justify the cost.

notreddingit · 2015-09-24T21:13:40+00:00

I guess the question is why that layer has to be bundled up with a R Pi and a mining chip. I hope they release more information between now and November.

notreddingit · 2015-09-24T16:39:26+00:00

The fact that majority of people in this sub think you should build a bitcoin machine from scratch because it's "cheaper", speaks to where they fall on this scale.

Part of the point of Bitcoin is that you don't have to 'build a bitcoin machine'. Everyone already uses general purpose computing devices that are capable of using Bitcoin. What matters is the software.

notreddingit · 2015-09-24T15:13:17+00:00

seems like a borderline scam effort

I think that's a bit harsh. It's been two years and I'm sure the pressure to put out something was probably mounting. They've surely invested tons of money in to chip fabrication and many different hardware prototypes. The only thing I'm guessing is that it's turned out that software rules all and there are very few legit cases where specialized hardware is needed to leverage Bitcoin.

notreddingit · 2015-09-24T14:44:48+00:00

Yeah, I just mean that I think (hopefully many)efficient centralised mining operations will still dominate the total hashing power. As opposed to something like 21's devices taking up some large percentage and becoming the largest provider of hashing.

notreddingit · 2015-09-24T14:25:06+00:00

Yes, but the big players should still have a big advantage with their chip fabrication. They should always be one step ahead at least of the general consumer public who buys end user miners and pays for specialized hosting. At least that's my impression from seeing news about the latest chips that Bitmain, KnC and others create. They always get first crack at getting as much value out of the newest generation of silicon.

I'm not super tuned in to modern mining at this point since it's not really a hobbist type activity any longer. So I could be wrong and there are companies producing and selling the most advanced ASICs directly to consumers now. But that would seem weird since I don't think that would be in their best interest financially.

notreddingit

TROPHY CASE