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The GOP and friends
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Michael



Joined: 09 Jul 2006
Posts: 10682

PostPosted: Thu Jan 10, 2013 9:05 pm    Post subject: Reply with quote

Dear mother,

I am writing to inform you of a hypothesis.
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Sam



Joined: 09 Jul 2006
Posts: 9501

PostPosted: Thu Jan 10, 2013 9:10 pm    Post subject: Reply with quote

absolute lol @ the suggestion I got burned on bitcoins. I've detailed my only money gambles: vanguard target retirement, index funds, and election year intrade (prediction market contracts)

Quote:
On today's show we're going to do an experiment on bitcoin! Now, if this egg represents your life savings, and this brick represents the inevitability of you getting hacked, what happens when we put the egg in this little sled and ram it into the brick? Form a hypothesis and tell your mom or dad!


is the egg buckled in???
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WheelsOfConfusion



Joined: 09 Jul 2006
Posts: 12171
Location: Unknown Kaddath

PostPosted: Thu Jan 10, 2013 9:15 pm    Post subject: Reply with quote

The egg must be held in a nest, for appropriate cleverness.
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Michael



Joined: 09 Jul 2006
Posts: 10682

PostPosted: Thu Jan 10, 2013 9:23 pm    Post subject: Reply with quote

And then place it aside in anticipation, of 24 hours of precipitation
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Dogen



Joined: 10 Jul 2006
Posts: 10709
Location: Bellingham, WA

PostPosted: Thu Jan 10, 2013 9:46 pm    Post subject: Reply with quote

WheelsOfConfusion wrote:
The egg must be held in a nest, for appropriate cleverness.

Yes, it rests upon a nest of your hopes and dreams for the future, which is an appropriate analogy as they also go hurtling toward the brick.

Now put on your safety goggles and let's see what happens when you invest in bitcoin!
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mouse



Joined: 10 Jul 2006
Posts: 17165
Location: under the bed

PostPosted: Thu Jan 10, 2013 11:42 pm    Post subject: Reply with quote

well, on the plus side, the brick will get all nasty and eggy.
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Michael



Joined: 09 Jul 2006
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PostPosted: Fri Jan 11, 2013 1:57 am    Post subject: Reply with quote

WheelsOfConfusion wrote:
The egg must be held in a nest, for appropriate cleverness.


Wheels' nest egg is totally king though Smile
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Eiden



Joined: 02 Jul 2007
Posts: 401

PostPosted: Mon Jan 14, 2013 8:04 am    Post subject: Reply with quote

Bitcoin is a test case study in some absolutely fascinating things.

A currency built up upon the crypto-ideal concept of rejecting the centralized regulatory nature of existing currencies, under the idea that it is these centralized fiat systems and regulations which make them inferior to a new, unregulated currency.

This is then followed by endemic scamming and theft and extraordinary volatility, as Bitcoin is descended upon by people preying on Bitcoin's lack of regulation and easy capacity for theft or scam.

Which is then followed by the Bitcoin community acting as a microcosm of the regulatory development of real currency, as the community begins attempting to find ways to make Bitcoin a secure enough currency to actually be worth keeping your net worth in, now or ever.

Anyway, anyone who is holding on to Bitcoins as a hedge against future instability of regulated currency is essentially wearing a giant sign that says that they are really clueless about economics.
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Thy Brilliance



Joined: 09 Jul 2006
Posts: 3550
Location: Relative

PostPosted: Mon Jan 14, 2013 11:16 am    Post subject: you can't be scammed if you know what you are doing btw Reply with quote

I wonder what your opinion on the federal reserve is, should be rich.

Meanwhile, I'll enjoy my net positive gains on bitcoin.
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Michael



Joined: 09 Jul 2006
Posts: 10682

PostPosted: Mon Jan 14, 2013 11:34 am    Post subject: Reply with quote

nobody's denied you can make money with bitcoins - in the short run
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Darqcyde



Joined: 11 Jul 2006
Posts: 10349
Location: A false vacuum abiding in ignorance.

PostPosted: Mon Jan 14, 2013 8:15 pm    Post subject: Reply with quote

Eiden wrote:
Bitcoin is a test case study in some absolutely fascinating things.

A currency built up upon the crypto-ideal concept of rejecting the centralized regulatory nature of existing currencies, under the idea that it is these centralized fiat systems and regulations which make them inferior to a new, unregulated currency.

This is then followed by endemic scamming and theft and extraordinary volatility, as Bitcoin is descended upon by people preying on Bitcoin's lack of regulation and easy capacity for theft or scam.

Which is then followed by the Bitcoin community acting as a microcosm of the regulatory development of real currency, as the community begins attempting to find ways to make Bitcoin a secure enough currency to actually be worth keeping your net worth in, now or ever.

Anyway, anyone who is holding on to Bitcoins as a hedge against future instability of regulated currency is essentially wearing a giant sign that says that they are really clueless about economics.


In a sense, aren't bitcoins really just the latest iteration of the same experiment which various game economies have already showed us? I'm too lazy to look, but I'm sure someone like Sam or WoC knows what I'm talking about i.e. they're all just shining examples of "Oh, THAT'S why we have regulations . . . " kinds of lessons.
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Sam



Joined: 09 Jul 2006
Posts: 9501

PostPosted: Tue Jan 15, 2013 12:34 am    Post subject: Reply with quote

Pretty much. In addition to the fact that bitcoins are useless as a hedge reserve because if anything drastic happens to the USD, the resulting economic volatility will shit on a niche commodity like Bitcoin, which is difficult to spend and whose present value is primarily based on its use for the purchase of drugs.
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Usagi Miyamoto



Joined: 09 Jul 2006
Posts: 2225
Location: wish you were here

PostPosted: Tue Jan 15, 2013 3:35 am    Post subject: Reply with quote

Michael wrote:
nobody's denied you can make money with bitcoins - in the short run

If there were a convenient way to short Bitcoins, I think you could make a substantial amount of money. Bitcoins are an illiquid commodity without option or forward contract markets, unlike most commodity currencies, and without a natural consuming market, unlike practically all physical commodities. It's one of the few cases where I think technical charting could actually work.
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WheelsOfConfusion



Joined: 09 Jul 2006
Posts: 12171
Location: Unknown Kaddath

PostPosted: Tue Jan 15, 2013 3:50 am    Post subject: Reply with quote

http://www.smbc-comics.com/index.php?db=comics&id=2855#comic
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mouse



Joined: 10 Jul 2006
Posts: 17165
Location: under the bed

PostPosted: Wed Jan 16, 2013 12:29 am    Post subject: Reply with quote

guess the parody!

Quote:
President Barack Obama is attempting to “bully” House Republicans over the debt ceiling, and the GOP should seek a different fight, Newt Gingrich said on Tuesday.

“This president is deliberately seeking confrontation,” Gingrich, a 2012 presidential hopeful, said on CBS’s “CBS This morning.” “I think he’s going out of his way to bully the House Republicans.”

Gingrich said that instead of getting bogged down in a battle over raising the debt ceiling, House Republicans should find leverage by turning to continuing resolutions and the sequester.

“Asking Barack Obama not to be a big-spending, high-taxing liberal is a denial of everything we’ve learned about him in his career,” Gingrich said. “It’s much better for the House Republicans to say, ‘This is what we’re prepared to do: we’ll pass a year-long continuing resolution for national security…There are dozens of places you can dramatically change spending without having to get involved in a general crisis over the U.S. debt.”

He added that a fight over the debt ceiling doesn’t look to be one the House GOP can win.

“I don’t think we should pick fights where we are in a position that we can’t in fact in the end enforce our will, because we have no evidence that Barack Obama’s going to compromise,” Gingrich said. “Nothing he’s done in the last couple of months would imply that he’s going to compromise.”


Quote:
Responding to reports that President Obama is considering signing as many as nineteen executive orders on gun control, Republicans in Congress unleashed a blistering attack on him today, accusing Mr. Obama of “cynically and systematically using his position as President to lead the country.”

Spearheading the offensive was Rep. Steve Stockman (R-Texas), who charged the President with the “wanton exploitation of powers that are legally granted to him under the U.S. Constitution.”

Calling him the “Law Professor-in-Chief,” Rep. Stockman accused Mr. Obama of “manipulating a little-known section of the Constitution,” Article II, which outlines the power of the President.

“President Obama looks down the list of all of the powers that are legally his and he’s like a kid in a candy store,” Rep. Stockman said. “It’s nauseating.”

The Texas congressman said that if Mr. Obama persists in executing the office of the Presidency as defined by the Constitution, he could face “impeachment and/or deportation.”

Noting that the President has not yet signed the executive orders on gun control, Rep. Stockman said that he hoped his stern words would serve as a wake-up call to Mr. Obama: “Mr. President, there’s still time for you to get in line. But if you continue to fulfill the duties of President of the United States that are expressly permitted in the Constitution, you are playing with fire.”

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