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Comment: Re:First major retailer to accept Bitcoin (Score 1) 182

by SMTB1963 (#45915289) Attached to: Bitcoin Payments Go Live At Overstock — Two Quarters Early

Even if they did, I'd wonder what point that is supposed to prove.

It's supposed to prove that (off the thinly traded BTC exchanges), few BTC transactions are for the purchase of everyday goods and services. Of course, it doesn't actually prove that, but it raises an important question.

Conversly, "ZOMG, O.CO accepts BTC!!!" doesn't prove that people are actually using BTC to purchase anything from O.CO.

If Byrne wants to promote BTC, let him disclose O.CO's BTC sales every quarter.

Comment: Re:LOVE THESE POSTS! (Score 1) 182

by SMTB1963 (#45914987) Attached to: Bitcoin Payments Go Live At Overstock — Two Quarters Early

What's that sound over your head? Hint: re-read 3rd paragraph of GP.

Maybe the readers here are just too old and conservative and it will never happen, like most old people will never use internet or smartphones or online-banking. I guess when you are of some age you are too old to learn and endorse new technologies.

I'm tempted to blather on about how some of a certain age are foolish idiots who wouldn't make it past 30 if things got real - but that would be stoopid. Besides, your post "makes me giggle".

Comment: Re:First major retailer to accept Bitcoin (Score 0) 182

by SMTB1963 (#45914613) Attached to: Bitcoin Payments Go Live At Overstock — Two Quarters Early

They got over $10,000 worth of BTC in the first hour and they convert 100% to dollars immediately with Coinbase.com taking the risk.

I hope you don't mind that I'm not going to take your word on that, unless you can prove you're working in the overstock.com treasury department. Otherwise, citation needed.

Comment: Re:First major retailer to accept Bitcoin (Score 1) 182

by SMTB1963 (#45912377) Attached to: Bitcoin Payments Go Live At Overstock — Two Quarters Early

How can it be a zero sum game?

It's a zero sum game if virtually all BTC transactions occur on the BTC to fiat exchanges, where no wealth is created.

The bitcoin network has obviously created wealth in the world.

That remains to be seen, but if you have some numbers to back up that assertion, let's see them.

What does it matter that Overstock is immediately converting bitcoins to USD? That still means that bitcoins are being used as a... wait for it... medium of exchange.

Huh? Who said anything about overstock converting BTC to USD? What they do with their BTC receipts (if any) was not addressed in my post. Back on topic, just because overstock.com has announced their acceptance of BTC doesn't mean anyone has actually paid them in BTC.

You do realize that people speculate in other currencies, too, right?

Loud-mouthed fool.

And what does that have to do with the price of tea in China? You do know that speculation is, by definition, a zero sum game...right?

Small minded fool.

Comment: Re:We need another Egypt... (Score 1) 99

by SMTB1963 (#44191923) Attached to: State Dept. Bureau Spent $630k On Facebook 'Likes'

When thinking of good models to emulate, are you thinking more of Egypt Revolution 1.0, which got taken over by the Muslim Brotherhood, or of Egypt Revolution 2.0, which got taken over by the military?

At this point, I trust the US military WAY MORE than I trust ANY of the three branches of our civilian government.

I choose Revolution 2.0


Comment: Re:Congress can Butt Out. (Score 1) 295

by SMTB1963 (#43570983) Attached to: Politician Wants Sci-fi To Be Mandatory In School
AC: JFC, RTFA. [Jesus Fucking Christ, Read The Fucking Article] West Virginia law does NOT (currently) exclude Sci Fi literature from WV curriculum. The law this WV idiot is proposing is this:


18-2-7d. Science fiction reading material to be included in curriculum to stimulate interest in math and science. The Legislature finds that promoting interest in and appreciation for the study of math and science among students is critical to preparing students to compete in the workforce and to assure the economic well being of the state and the nation. To stimulate interest in math and science among students in the public schools of this state, the State Board of Education shall prescribe minimum standards by which samples of grade-appropriate science fiction literature are integrated into the curriculum of existing reading, literature or other required courses for middle school and high school students.

While I won't argue against the intent of the law, the way it's written is complete BS. NOTING GOOD WILL COME OF IT.

Comment: Re:Well the ultimate value of Bitcoin is (Score 1) 605

by SMTB1963 (#43432461) Attached to: BitCoin Value Collapses, Possibly Due To DDoS

Wow. You really can't help yourself, can you?

Given that your claims in this thread have been so thoroughly debunked, I can see why you're upset. But there's no reason to use profanity. : )

If you re-read my two word post, you'll find that I'm not actually complaining - I was simply expressing relief. You see, I'm the type of person who hates to see someone completely and utterly embarrass themselves in such a loud and public manner. I mean really, a "NOTICE TO READERS:" post? Classic.

By all means, keep posting. In a way, you're becoming less sad and more entertaining. But not in a good way.


Comment: Re:Note this is not the "top 1%" (Score 1) 893

by SMTB1963 (#43362485) Attached to: Massive Data Leak Reveals How the Ultra Rich Hide Their Wealth

Claiming Adbusters speaks for Occupy movements worldwide is like claiming Rush Limbaugh speaks for all conservatives in the US.

While Adbusters (in concert with Workhouse) may have provided a spark to ignite OWS, I see no evidence that OWS, other US Occupy movements, or other Occupy movements worldwide have completely adopted Adbusters' agenda. I see no evidence that Occupy movements look to Adbusters as their primary media outlet/spokesperson. Quite the opposite, if you look at occupywallst.org, there is precious little mention of Adbusters outside of the site's forums - where Adbusters is frequently ridiculed.

Here's what OWS actually says about their origins:

Occupy Wall Street is a people-powered movement that began on September 17, 2011 in Liberty Square in Manhattan’s Financial District, and has spread to over 100 cities in the United States and actions in over 1,500 cities globally. #ows is fighting back against the corrosive power of major banks and multinational corporations over the democratic process, and the role of Wall Street in creating an economic collapse that has caused the greatest recession in generations. The movement is inspired by popular uprisings in Egypt and Tunisia, and aims to fight back against the richest 1% of people that are writing the rules of an unfair global economy that is foreclosing on our future.

There seems to be no mention of Adbusters.

"Occupy folks" aren't some kinda monolithic group subscribing to a rigid ideological agenda with a single publication acting as their Pravda. You really should open your mind to the idea that many (if not most) of the movements have matured beyond the radical positions Adbusters promotes. You also might want to consider the possibility that the US government's treatment of large financial institutions following the crisis is an affront to capitalist ideals, and is something that *should* be protested.

Comment: Re:Non-Story (Score 2) 893

by SMTB1963 (#43361415) Attached to: Massive Data Leak Reveals How the Ultra Rich Hide Their Wealth

Want to know how the super wealthy "hide" their money in off shore accounts? Call an off shore bank and ask? They'll be happy to tell you. For a couple hundred bucks they'll even set up the company for you and open an account.

Problem is, you'll need to get money into your account somehow. To do so will take a wire transfer that the IRS will be notified about. Going the other direction would also take a wire transfer, that the IRS will be notified about.

Both your post and citations miss the point entirely. The IRS doesn't tax deposits in offshore banks - or deposits in any other banks for that matter. It doesn't tax transactions from one bank to another. The IRS taxes income reported on a form. Just because the IRS gets notified of a $5000 transfer from Nevis Corp XYZ to Jersey Corp 789 really doesn't mean squat when it comes to determining a tax liability.

These accounts are only small pieces of larger, unbelievably complex financial structures designed to shelter [hide] income/capital gains from tax authorities - and only wealthy corporations and individuals can afford the armies of accountants and tax attorneys required to create and administer them.

Your claim that this is a non-story seems to imply that all is well. All is not well.

The degree of technical confidence is inversely proportional to the level of management.