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Comment: Re: Ponzi scheme (Score 1) 357

by scubamage (#46566277) Attached to: Cryptocurrency Exchange Vircurex To Freeze Customer Accounts
All currency, whether it's bank notes, hunks of gold, bitcoins, goats, glass beads, or anything else, is a commodity. The only thing that determines price of that commodity is demand and supply. If people think it has utility, it has value. If people stop thinking any of these items have value, then they become worthless. All of these are speculated on as well; that's what foreign exchange markets are, that's what commodities markets are. None of them have intrinsic value until we decide to put a price tag on them in order to exchange them for other things.

Comment: Re:Ponzi scheme (Score 1) 357

by scubamage (#46566233) Attached to: Cryptocurrency Exchange Vircurex To Freeze Customer Accounts
Right now I can name about 4 local vendors who accept bitcoin because they prefer it to the 3% transaction fee charged for credit cards. And they're pulling in still more vendors. They're not involved as speculators, they're involved as people who want to accept it because it makes their cost of doing business lower.

Comment: Re: Ponzi scheme (Score 1) 357

by scubamage (#46566121) Attached to: Cryptocurrency Exchange Vircurex To Freeze Customer Accounts
Exactly. What people are missing is that this is still relatively new technology. With the big boom in mining over the past few months, we can consider this to be the true shakeout period. The exchanges that have problems will fall, and the ones that don't will be the cream rising to the top. This isn't something new. The fact is, a lot of vendors like cryptocurrencies because they don't require processing charges outside the occasional transaction fee when the transaction exceeds a certain size.

+ - Dogecoin Cryptocurrency raises $40,000 to provide fresh water Africa->

Submitted by scubamage
scubamage (727538) writes "TANA, Kenya — March 16, 2014 — Remote villages in Eastern Kenya may not be the first place you think about when it comes to the hot button topic of crypto-currencies but this past week investors and early adopters of Dogecoin used their "magical internet money" to help save lives in an area that suffers from seasonal drought and a lack of clean drinking water.

Over the past week the Dogecoin Foundation, a non-profit organization started by the founders of Dogecoin began accepting and collecting donations for their Doge4Water campaign to coincide with World Water Day on March 22nd. The foundation hoped to raise 40 million Dogecoins (est. $50,000 USD at current exchange rates) to be able to sponsor the Charity:Water initiative of constructing two hand-dug wells to provide access to clean water for the surrounding communities in the Tana River area of Eastern Kenya.

On Friday a generous benefactor who goes by the name of Hood (@savethemhood) helped achieve that goal by making a record tip of 14,000,000 Dogecoins via Twitter. With a tweet berating the wealthy for not doing enough, Hood summed up how he felt with this post, "It is astonishing that we have fellow humans on this planet without water. We have the wealth, but not the will. The greedy do nothing...." Users and foundation members alike were overwhelmed with an outpouring of gratitude on the /r/Dogecoin subreddit.

Since its beginning in early December the Dogecoin community has used their popularity and growing monetary value to help out several causes and charities. Donations from Dogecoin helped the Jamaican bobsled team to travel and compete in this year's Winter Olympics in Sochi, Russia as well as fostering a community based not so much on gaining wealth but on giving it away. Hundreds of thousands, if not millions of Dogecoins are given away through tips each day on Reddit, Twitter, Facebook and other social media platforms.

While cryptocurrency has been a high profile topic this past week as to whether it should be regulated, especially due to several well publicized thefts and losses, or as to who the inventor may or may not be, the one coin which seems to take itself a little less seriously than the others firmly made its case that alternative currency can change the world, and for the better.


Link to Original Source

Comment: Um... (Score 1) 448

by scubamage (#46101591) Attached to: Developer Loses Single-Letter Twitter Handle Through Extortion
So, why wouldn't he reach out to one of the 3 letter agencies involved with things like this (namely the FBI)? At the very least with their help he could have pulled in the 3 companies into a conference call, explained what was going on, and gotten this resolved pretty quickly. It's pretty easy to say "Here is the information that was used to open the account, block all recent changes." Or did the hacker somehow get control of his phone too? Am I missing something?

Comment: Re:Also see.. (Score 1) 129

by scubamage (#46081919) Attached to: Watch Steve Jobs Demo the Mac, In 1984
I'm the GP, and I actually *like* OSX, but my reason is pretty simple; I hate dealing with desktop UNIX. Having to spend days to get 3d acceleration and the desktop configured "just so," only to have the next OS update torch all of my settings to a state where it may be impossible to recover... well... it's just not worth it to me. That's why I pay the apple tax; it's an exchange for not having to do all of that work, and it's worth it for me to never have to see glxgears ever again. I'm not a fanboy by any means; I'm a pragmatist. But I will say that OSX did finally bring about the fabled "year of the *nix desktop," it just wasn't linux, it was BSD. And it wasn't really heralded as such.

Comment: Re: hmm (Score 4, Interesting) 129

by scubamage (#46078177) Attached to: Watch Steve Jobs Demo the Mac, In 1984
Did you know that Goebel approached edison and attempted to sell him the patent for the lightbulb, but Edison refused, allowing Goebel to fall into destitution and die penniless. He then went to his destitute widow and offered her a fraction of the original asking price, effectively screwing Goebel's estate out of any royalties of the invention that Edison is most well known for? That's my whole issue here; people who steal other people's work, or who lie and cheat to get their hands on it. Edison was an asshole, if you don't believe me, just look at how he treated Goebel.

Comment: Re:Also see.. (Score -1, Troll) 129

by scubamage (#46075537) Attached to: Watch Steve Jobs Demo the Mac, In 1984
Fact for you: I am writing this comment on a mac, running OSX. What pisses me off is that people are crazy Steve Jobs fanboys without realizing that he had little to no technical ability. He was a sales guy, and had an idea about how things should work and how they should look. That's it. He didn't build anything. The original apple was built by Woz, and Jobs helped to sell it. Don't believe me? You can download the schematics for it; they're entirely the work of Woz. The same with the Apple II. Jobs' sole contribution to the projects was color suggestions on the boxes. His career would have not started except for the work of other people, whom he later screwed over at any chance he could take. He was like Edison, find engineers, find ways to suck work out of them or get them to put patents under your umbrella, and then take all of the credit. They won't sell? Blackmail, cheat, harass until you can get the patents under your control. He was a disgusting human being. The fact that he admitted other people were involved in this video is surprising. For those of us who met him, he was a royal douche who is incredibly overrated. The world is in a far worse place for losing Dennis Ritchie than it is Steve Jobs.

Your fault -- core dumped