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Posted on 4/3/13 at 3:05 pm to WikiTiger
quote:
it's theorized that in the future that most transactions will actually take place outside of the bitcoin network.
How would that work though? Would it be like the transaction happens out of network then 3rd party processors "settle up" after hours on the network?
Posted on 4/3/13 at 3:05 pm to foshizzle
quote:
s Excel really THAT much more valuable in Windows 8 environment than it was in Windows 3.1?
My example involved storage capacity. What does this have to do with Excel?
Excel is a basic example of technology that brings value and productivity to someone.
Storage capacity doesn't. So you have more space for more bloated software that does the same thing it did 20 years ago. A horrible analogy you provided.
Posted on 4/3/13 at 3:06 pm to WikiTiger
quote:
although it's entirely possible to accept 0 confirmation (aka instant) transactions if you so chose
and with no charge backs the seller has some serious risk here.
quote:
In fact, it's theorized that in the future that most transactions will actually take place outside of the bitcoin network.
"in the future" doesn't pay the bills today. As the article described there is zero benefit today in practice for a buyer or a seller to conduct legal transaction through bitcoins. Time is money. Risk is money. Neither of those are superior to credit cards or cash used today. I could see some benefits over checks I guess but the only people who use checks widely today are old people. I don't see them catching on to the bitcoins process if they can't figure out how to use a credit card.
Posted on 4/3/13 at 3:10 pm to Meauxjeaux
quote:
it certainly takes two wage earners today to provide the quality of life that one could provide in the 80's and 90's.
No, I don't agree. I think your memory of the 80's and 90's is blurred.
My wife and I had to work much harder in the 90's to make ends meet. Again, maybe that's just my personal experience but I know a lot of my friends who have taken early retirement or switched to part time because they decided they have enough money and value the free time more than the money they could be making by continuing to grind.
I didn't read your link because the organization that wrote it is, as you say, a lefty love fest group.
Posted on 4/3/13 at 3:12 pm to Meauxjeaux
quote:MJ, I know you're more knowledgeable than I am about computers but you can't be serious that the software today does the same thing it did in 1990. In 1990 we didn't even have the internet.
So you have more space for more bloated software that does the same thing it did 20 years ago.
Productivity via technology has definitely outpaced costs.
This post was edited on 4/3/13 at 3:17 pm
Posted on 4/3/13 at 3:28 pm to LSURussian
quote:
Productivity via technology has definitely outpaced costs.
Well this is a two-sided coin.
Without a doubt technology advances have outpaced anything else... it's the law of whatever that tech advances at an exponential rate.
However, for many basic tasks, has it really improved that much? Is Windows + MS Office THAT much better today than Win3.1 days?
Fo's use of technology to imply that "quality of life" is better today is a loaded gun example.
What I'm talking about - is a middle class family's buying power and thus, quality of life, better or worse today than 1990?
What I see is families that used to eat out more, take more vacations, support themselves on a single income, have better education options, the ability to save, etc.... for those occupations I listed, plumber, telecom field tech, etc) are those families quality of life better today than 1990? I don't think so.
Posted on 4/3/13 at 3:37 pm to Meauxjeaux
quote:
The "middle class" is 'missing' according to it.
Typically that phrase is used to describe skilled trade jobs of the sort that actually was middle class in the 50's. Their problem is not inflation so much as competitive pressures in the job market. As you pointed out "professionals" are indeed doing just fine.
Posted on 4/3/13 at 3:40 pm to Meauxjeaux
quote:
What I see is families that used to eat out more, take more vacations, support themselves on a single income, have better education options, the ability to save, etc.... for those occupations I listed, plumber, telecom field tech, etc) are those families quality of life better today than 1990?
I'd say yes. People are taking many more vacations, enjoying entertainment, and eating out much more than in the past. The expansion of service industries should show this.
Posted on 4/3/13 at 3:45 pm to Meauxjeaux
quote:
So you have more space for more bloated software that does the same thing it did 20 years ago.
And more space for other things too. Such as pictures and videos, which I can easily store, back up, share online, etc. That was not possible for the average consumer in 1990.
Consider that with the storage technology of 1990 digital cameras with 14 megapixel resolution that fit in your pocket were simply not feasible. Let alone on your phone. That $300 hard drive of 1990 couldn't even store a full 36 exposure roll of film.
Of course, there's also faster processors that can handle all this data. Sure, stuff is bloated. Why? Because why not? The space and processing power to handle it are cheap. Bloat is a consequence of technology advance, and not really a bad one either. Nobody needs to work to "clean up" the code like they did in 1990, let alone in 1970. It just isn't worth the trouble.
Posted on 4/3/13 at 3:48 pm to WikiTiger
quote:
I posted about ICBIT.se on Feb. 27 and March 13 both on the Money board.
Apparently you guys don't read my posts.
Apparently you don't understand what "credible" means, as in "credible broker".
If I don't trust bitcoin values, I'm sure not going to trust any exchange that specializes in bitcoins. I could be in the money on a short position only to have a bitcoin trading website cancel the trade.
What is wrong with you??
Posted on 4/3/13 at 3:55 pm to C
quote:Yep.
People are taking many more vacations, enjoying entertainment, and eating out much more than in the past.
Here is a statistic which backs up your point about eating out vs. preparing meals at home:
quote:June, 2008
According to the U.S. Department of Agriculture’s Economic Research Service (ERS), Americans now spend 48.9 percent of their food dollars away from home- the highest percentage on record. Thirty years ago, only about 37 percent of those food dollars were spent away from home. Fifty years ago, that figure was just 25 percent.
Posted on 4/3/13 at 4:00 pm to LSURussian
quote:
If I don't trust bitcoin values, I'm sure not going to trust any exchange that specializes in bitcoins. I could be in the money on a short position only to have a bitcoin trading website cancel the trade.
Which I would assume is highly likely to happen. Afterall, as far as I'm concerned that is an "anonymous" exchange also. Likely in some foreign country, out of regulatory/legal reach.
Posted on 4/3/13 at 4:00 pm to LSURussian
Posted on 4/3/13 at 4:02 pm to Broke
quote:
Which I would assume is highly likely to happen. Afterall, as far as I'm concerned that is an "anonymous" exchange also. Likely in some foreign country, out of regulatory/legal reach.
You know what I love about free markets? No one is forced to use them.
Posted on 4/3/13 at 4:03 pm to C
quote:
Oh and from the OT Bitcoin service provider instawallet hacked - users will not be able to access their bitcoins for weeks... Enjoy!
And what does that mean, C?
What are the implications?
What can be learned from it?
Posted on 4/3/13 at 4:06 pm to WikiTiger
quote:It means people have their funds frozen for atleast 90 days.
And what does that mean, C?
quote:
What are the implications?
Third party transactors that would ease the use of everyday people can not be trusted.
quote:Using bitcoins as a medium for everyday legal exchange will not be a quick transition.
What can be learned from it?
This post was edited on 4/3/13 at 4:08 pm
Posted on 4/3/13 at 4:08 pm to WikiTiger
quote:Who said I am forced to use some flaky bitcoin exchange website you linked to while claiming it's a good site to use to short bitcoins? I asked the board to help me find a credible broker to short BC through.
No one is forced to use them.
YOU linked to some unknown site recommending it as a site to use to short bitcoins.
Do you have a short term memory problem?
Posted on 4/3/13 at 4:08 pm to C
quote:
It means people have their funds frozen for atleast 90 days.
If by "people" you mean "Instawallet customers" then yes.
quote:
Third party transactors that would ease the use of everyday people can not be trusted.
I would agree. I have always said that you should never trust your bitcoins to a third party.
quote:
Using bitcoins as a medium for everyday legal exchange should be avoided.
I don't know how you learned that from this incident, but ok I guess.
Posted on 4/3/13 at 4:11 pm to C
quote:We also have learned that earlier today wiki was touting bitcoin because it was trading at $148 and it is now trading for $115.
What can be learned from it?
Using bitcoins as a medium for everyday legal exchange will not be a quick transition.
So what if it's only dropped 22% in a matter of a few hours? Who could possibly care about that??
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