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Comment: Re:Deceased owners (Score 2) 206 206

by mozkill (#45311455) Attached to: Dark Wallet Will Make Bitcoin Accessible For All — Except the Feds
The interesting thing about the divisibility of bitcoins is that the need for divisibility arises from scarcity, or in other words, arises from deflation. So, the currency is not designed to inflate like fractional currency, but rather to DEFLATE . This is a huge difference between Bitcoins and other archaic currency systems. Also, Bitcoin already has built-in protocols to transfer money if you die and don't respond to deadman switch emails. Also, if you keep a copy of your bitcoin wallet in a safe, then beneficiaries can access your coins. There are probably other ways as well. So, I don't see it as a problem. Whatever future Bitcoin banking service that you use would obviously set up these precautionary measures for you.

Comment: The reason why Paper is the obvious answer... (Score 1) 532 532

by mozkill (#45010529) Attached to: I'd prefer my money be made of ...
Paper is the obvious best answer for a money. Paper is backed by "law" and CAN BE fixed in supply by the government that issues it. What makes paper money fail, and what gives paper money a somewhat bad reputation, is the "fractional" nature of the system beneath the money. Lincoln proved that fractionless money was superior and he won the Civil War. The Patriots in the Revolutionary War also proved that fractionless money (or relatively fractionless) was also superior and they won the Revolutionary War. Germany also used a fractionless money in WWII. If we would only OUTLAW the "fractional reserve" system, then the paper money we print would retain its value and the underlying system would serve as a perfect income tax. Reading suggestion: http://monetary.org/ .

Comment: Re:Not legal tender. Therefore, not a currency. (Score 1) 425 425

by mozkill (#44558483) Attached to: Federal Judge Declares Bitcoin a Currency
For the United States to declare "Bitcoin" as "legal tender" US currency is a little bit like the United States declaring Euros to be "US legal tender" within the United States. It's ridiculous because the US government has no juristiction over that money and it undermines the official currency of the US. Think of Bitcoin as a currency declared "legal tender" by a invisible country; its clear its not a US currency. If every country in the world declared Bitcoin as "legal tender", then that would be interesting, but it would also undermine SDR's which are the current world currency.

Comment: Re:Edison = Jobs (Score 1) 692 692

by mozkill (#44557805) Attached to: Larry Ellison Believes Apple Is Doomed
Edison was nothing compared to Tesla. Tesla invented the fricking remote control boat and the idea of the Television and "high frequency Electrotherapy", among many other things! Thomas edison may have created the light bulb but LED lights will render his invention useless after only about 115 years. The alkaline battery is another finite life invension. Teslas inventions will last forever, he was a much more forward thinker, not just looking for a shortcut.

Comment: Not legal tender. Therefore, not a currency. (Score 5, Interesting) 425 425

by mozkill (#44503307) Attached to: Federal Judge Declares Bitcoin a Currency
Personally, I think the definition of currency is unclear. If its not "legal tender", or in other words not officially declared as money accepted for paying taxes (by fiat) , then shouldn't it NOT be considered a currency, in the same way that Gold is not considered a currency (unless it is officially stamped as such by fiat). To be a currency, some official government must declare it as official for paying taxes IMHO. So, for a judge to declare Bitcoin as a currency is ridiculous because, for it to be so, he himself would have to be willing to accept it , and then turn around and pay taxes with it.

Comment: I think we will meet aliens, and here is why. (Score 1) 629 629

by mozkill (#43561597) Attached to: Why We'll Never Meet Aliens
I think we will meet aliens, and here is how:
  1. 1. A remote civilization will recognize our planet and send a probe at sub-light speed (3% or less) for a journet of 1000 years, or whatever.
  2. 2. Within a few years of arriving at Earth, the probe will download (at light speed) a new Firmware update from the home planet, which has the newest technologies, innovations, and informations.
  3. 3. As the probe nears our solar system , it will begin growing biological versions of test-tube baby aliens.
  4. 4. The probe, using robots, will educate the newly born aliens just in time for their arrival at Earth.
  5. 5. The aliens arrive and say Hello.
  6. 6. The robots destroy us all.

The universe is like a safe to which there is a combination -- but the combination is locked up in the safe. -- Peter DeVries