The Lounge - CodeProject

Very good explanation.
N.D. wrote "more dollar will be printed by the federal reserve, and the money will loose value in consequence."

Therefore the federal reserve is not alone to print, it is a little more complicated and decayed if we account of :

http://www.fraudfighter.com/counterfeit-detection-id-verification/bid/75858/How-much-fake-money-is-in-circulation
Someone said there is fake money (dollars) equal to the real currency in U.S. circulation.

So we should need to talk about the american debt ($3.66 trillions) which is not formed in banknote (paper'presidents) and certainly not backed by Gold, this participe to devalue the money.

On cheat speciality never give a date...the money change should be the fault

Bitcoin needs to be regulated? secured?...i.e. a fed bank (of world?)
Finaly if BTC will success alone, it will need to be partialy held by goverment(s) to save their money and make their legal Counterfeiting, otherwise they'll forbid to their national to play with! Pretext is now found "Mt Gox" and others coming soon!

Surely enough, nobody can print a bitcoin, legally or not.
But hey, no media will ever talk about that, don't they ?

And you are right, the fall of Mt Gox will likely cause bank rush in other exchange either to convert into real BTC or USD...
I'm waiting patiently the cheap bitcoins I will reap under the ash of the bang.

Bitcoin is here to stay because of its intrinsic value, regardless of bad publicity.
When the national currencies will fall under their debt, people will seek a replacement.
And the only replacement that is garanted to protect them to be abused again will be bitcoin.

I use it when I want to pay for a hit on my enemies, purchase drugs or when ordering trafficked women.

PB 369,783 wrote:
I just find him very unlikeable, and I think the way he looks like a prettier version of his Mum is very disturbing.[^]

Where do I meet these women? Big Grin | :-D

The report of my death was an exaggeration - Mark Twain

Simply Elegant Designs JimmyRopes Designs

I'm on-line therefore I am.
JimmyRopes

When he's done with them.

JimmyRopes wrote:
Does anyone use Bitcoin[^] and, if so, for what purpose?

For what purpose does one hold on to money?

Used it (bought software), still own a tiny amount and hope that it survives.

Bastard Programmer from Hell Suspicious | :suss:

If you can't read my code, try converting it here[^]

How long ago did you buy it? Do you remember the price?

I am thinking of trading Bitcoin on the FX markets and do not have enough historical data to back test a system yet.

It did take a plunge but seems to have rebounded. I am a little confused about if it will act like national currencies or have it's own rules due to lack of central bank manipulation.

The report of my death was an exaggeration - Mark Twain

Simply Elegant Designs JimmyRopes Designs

I'm on-line therefore I am.
JimmyRopes

JimmyRopes wrote:
How long ago did you buy it? Do you remember the price?

~~Years ago~~*, less than five BC. That sounds like "Wow" when you consider the top-price BC had, but it was a major meh at the time. There wasn't an official price-quote as far as I know.

*) It wasn't an eternity ago; but it's been more than 3 times 8 months[^]

A few years ago you'd need either a credit-card or a PayPal account to order something from the US, and I didn't have either. It was cool to order "a lot" of shareware-applications and to pay using my own computer.

From a binary file.

It did not beat the coolness-factor of getting "real" dollars at your bank, add in a carbon-copy paper and some cardboard to prevent people from holding it up to a lamp to see what's in there, and to seal it with lots of spit. It would get special stamps reading airmail and Priority Shipment, and an extra label for some weird customs.

JimmyRopes wrote:
I am a little confused about if it will act like national currencies

You mean "fiat", and no, it's not.

JimmyRopes wrote:
have it's own rules due to lack of central bank manipulation.

..and due to other features. I'm guessing that it'll be a combination of the merits and problems of the two extremes; fiat and gold.

One of the most important features of a currency is the trust that one can use it for trade. That's the habit that has keeping fiat alive; that's the argument to dismiss gold as money.

BC OTOH now has to compete with a host of new cryptocurrencies. If more currencies become available to me, each of them accepted in my habitat, where would one place their eggs? Perhaps it is impossible to generate more BC, but it is obviously possible to generate more crypto-currencies.

JimmyRopes wrote:
I am thinking of trading Bitcoin on the FX markets

BC is still being introduced, and will not behave like the traditional patterns. Small events, speculation and rumours have a large impact on the price; acceptance and price change by the day, and it'll be impossible to use an AI to predict what will happen. If a single state prohibits it's use (or accepts taxes in BC), things will change very quickly.

If you want historic data, try this[^] chart. Click on "Load Raw Data" for a nice table Smile | :)

Bastard Programmer from Hell Suspicious | :suss:

If you can't read my code, try converting it here[^]

Thanks for the information.

The report of my death was an exaggeration - Mark Twain

Simply Elegant Designs JimmyRopes Designs

I'm on-line therefore I am.
JimmyRopes

It's very useful when you need to pay for assassinations you order, illegal pharmaceuticals transactions, those kind of things.
Wink | ;)

--
If money is your hope for independence, you cannot reach it.

Being loved gives you strength,
while loving gives you courage.

Sign me up. Unsure | :~

The report of my death was an exaggeration - Mark Twain

Simply Elegant Designs JimmyRopes Designs

I'm on-line therefore I am.
JimmyRopes

You'll find more traces of coke on a dollar than on a BitCoin Laugh | :laugh:

Bastard Programmer from Hell Suspicious | :suss:

If you can't read my code, try converting it here[^]

Jimmy, recently I had to explain that to a lots of people in my entourage.
I wrote an entire explanation on medium[^].
It contains what I told you, plus some additional background, and in a more polished way.

Thanks for the information.

The report of my death was an exaggeration - Mark Twain

Simply Elegant Designs JimmyRopes Designs

I'm on-line therefore I am.
JimmyRopes

Bitcoin is absolutely useless for lighting cigars.

I may not last forever but the mess I leave behind certainly will.

Anyone noticed in movies no one seems to use Windows the most popular OS, no one use Google the most popular search engine, no one uses internet explorer the most popular browser. Fiction indeed

codejet wrote:
no one uses internet explorer the most popular browser.

Ahem: http://en.wikipedia.org/wiki/Usage_share_of_web_browsers[^]

It hasn't been IE for a long time...

And if you think that's wrong, there is W3Schools http://www.w3schools.com/browsers/browsers_stats.asp[^] and they have no axe to grind!

Those who fail to learn history are doomed to repeat it. --- George Santayana (December 16, 1863 – September 26, 1952)
Those who fail to clear history are doomed to explain it. --- OriginalGriff (February 24, 1959 – ∞)

I guess it should have been the most popular desktop web browser.

Even there I suspect you may be wrong: Chrome is doing very nicely as a desktop browser, FireFox is also popular - I cannot think of anyone I know who is using IE by choice (as opposed to because it is company policy). I have it installed - but only for website testing, never for "proper" browsing.

Those who fail to learn history are doomed to repeat it. --- George Santayana (December 16, 1863 – September 26, 1952)
Those who fail to clear history are doomed to explain it. --- OriginalGriff (February 24, 1959 – ∞)

I use it by choice. Works fine. Most 'normal' people will not be bothered to install a new web browser. Most people wouldn't even know what it meant.

"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." Red Adair.
Those who seek perfection will only find imperfection
nils illegitimus carborundum

me, me, me
me, in pictures

I too use it by choice (IE11) as it seems to be a lot faster than Firefox or Chrome on my PC.

I'm using IE11 and Chrome, atleast onee of them are always working.
I never use Firefox, it's more unstable then my wife.

Wrong is evil and must be defeated.
- Jeff Ello[^]

Jörgen Andersson wrote:
I never use Firefox, it's more unstable then my wife.

That's just about signature material right there. Thumbs Up | :thumbsup:

It's a very good thing that my wife is totally uninterested in the Codeproject, or I would experience instability at the level of FOOF[^].

Wrong is evil and must be defeated.
- Jeff Ello[^]

I take it you're a calm and patient man then. Bloody hell, FOOF make organic peroxides look like the kind of things you'd give kids to play with, in comparison. It even manages to make anhydrous Perchloric Acid look rather pedestrian.

No thanks! (to the FOOF)

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