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I think the correct term for Bitcoins is scrip. If we go by Wikipedia, fiat money needs backing from a government to be "fiat" which it's saying is Latin for "let it be done" and not terribly in line with crazy libertarian thinking. It's also not currency since I'm sure it's excepted less places than Canadian Tire Money.CAustin posted:Regarding the symbol denoting amounts of Bitcoins, I nominate the Cyrillic capital letter Omega: Ѡ Just have to rotate it 90 degrees so it looks like a B. An rear end B, if you will.
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Jul 12, 2011 23:40
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Lolie posted:Even using a really broad definition of scrip, BTCs don't quite fit it because they can't be redeemed with the issuer. I think you could look at the distributed network, as a whole, as the issuer. In which case, since part of the network will redeem them for stuff, I don't think it stretches the definition to much. Computer viking posted:That said, it is a slightly fluent border. If their wildest dreams come true, and most stores (and currency exchanges) start accepting bitcoin, it would effectively be a currency. Not that I see that as a very likely event. I don't think we'll have to worry about the hypotheticals.
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Jul 13, 2011 00:49
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Insert puns here posted:The problem with fiat currencies is there's a central authority that controls the supply. If they go insane, they might hyperinflate the currency for shits and giggles, even though they have no motivation to do this unless everything is totally hosed already. This literally happens all the time and is a serious concern. Just look at what having a flexible currency has done to the financial situation in Greece and Ireland. To sum it up. Fiat currencies: you might get screwed. Bitcoins: you will get screw but free market 
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Jul 16, 2011 04:54
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fishmech posted:Many of them say you would pay a subscription to a private police force and a subscription to a private judge system and this would solve the problem. Not to mention, this is totally what's happening in Somalia.
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Jul 18, 2011 06:19
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makomk posted:That's not how dividends are meant to work. Any thoughts on what kind of scam this could be? Unless he takes the money and runs, I don't think it's a scam. It seems to be pretty out in the open how you will get screwed if you invest in this scheme. ymgve posted:Today my bitbills arrived! It all depends if you need shimmy up a table slightly or not.
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Jul 20, 2011 14:43
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ymgve posted:No way. These will be framed and put on my wall, with the following quote beneath: I would go with "Ceci n'est pas la monnaie."
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Jul 20, 2011 14:56
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makomk posted:Maybe, though even then it's relying on people not spotting the scummy redefinition of the word "dividend" or not thinking its implications through carefully enough. I was more thinking that this seems like the perfect cover for something like a ponzi scheme... I think his idea is kind of like the opposite of a Ponzi scheme, since early investors will seem to get the short end of the stick. I think if there is anything more shady what's in the text, it's either him taking the investment and running or him skimming any gross revenue. Either way, its an unfair deal for the investor in a scheme reliant on what will probably turn out to be a scam. Frankly, there are better ways to waste $3 as an "investment".
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Jul 20, 2011 15:36
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Ogive posted:I agree. And as long as bitcoiners are still getting their disability checks, bacon sandwich futures are going nowhere but up up UP! :zoidberg: I'm sorry to have to tell you this, but it looks like there will be no more bacon futures. Also, I'm really glad I'm in a country with socialized medicine.  Going a bit more on topic, how the hell do they track all the fractions of bitcoins that are produced from transactions?
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Jul 26, 2011 19:11
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Furious Mittens posted:I thought for sure that Chef Marwan would have already jumped off this ship by now. He even basically admitted on the BitCoin show a while back that he really didn't give a poo poo about BitCoins, he just wanted the free advertisement. You have to remember that restaurants operate on a thin margin, so I'm sure the extra they will pull in will look attractive on their bottom line. Also, I think they sell shawarma  .
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Jul 27, 2011 14:47
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quote:What do you enjoy doing for fun? I'm thinking the first one may be a little suspect, but I'm hoping she is completely full of poo poo on the second. Just think of the poor animal, let alone the physics of her balanced on it.
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Sep 16, 2011 21:03
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