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Comment: Re:Is the gold rush over? (Score 1) 768

by Afecks (#36440348) Attached to: Ask Amir Taaki About Bitcoin

That was the point...BitCoin is great for people who got in early and mined a lot. But for everyone else, adopting it means essentially giving those early adopters stuff for free.

If you buy $20 worth of BTC and then buy $20 worth of stuff with BTC, how exactly are you losing anything? You're not. This is just one of several myths surrounding Bitcoin. Another is that it has no intrinsic value. First of all, nothing has intrinsic value. If everyone decided gold was worthless tomorrow, it would be. What these people mean to argue is that BTC isn't a commodity. You can't do anything with it except use it as a medium of exchange. This too is a false. It's a proof-of-work system and can be used as a replacement for CAPTCHA's. Maybe I'm showing my age here but I remember HashCash and how that was supposed to stop email spam forever. Obviously, that didn't happen but Bitcoin has the same usage that HashCash did/does have. It's useful as a commodity. You can argue that it's overvalued compared to how much is actually used as a commodity but so is gold. How much gold do we really need to turn into audio connectors, food decorations, teeth, etc? I doubt it's enough to justify gold being somewhere around $50 a gram.

Comment: Re:Main problem is revenue (Score 1) 243

by Afecks (#32906368) Attached to: Don't Stop File-Sharing, Says Former Pink Floyd Manager

If music, movies, software and books are freely distributed they pretty much have zero value. There will be some very talented folks that are also independently wealthy (or have gotten rich from when their music had value) that can afford to work for nothing. The rest of the world is going to do something that pays the rent and the grocery bill.

I find it hilarious that some people think that without copyright laws nobody would want to support artists when the very fact that copyright laws exist is a demonstration that people want to support artists! If you think it's not then that means you think that the majority of people don't really want to support artists but they do want the government to hold a gun to their heads and force them to do it. Huh? What?

If you flaunt it, expect to have it trashed.

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