Post Race!

[Shaggy Hiker]

Strange link there, Bambi.

[Witis]

Sharky, what do you make of the bitcoin phenomena?

[dday9]

Page two thousand eight hundred and nine.

[Witis]

Who is Satoshi Nakamoto? Continued:

'The most high-profile speculation to date came in a March 6, 2014, article in the magazine Newsweek,[30] when journalist Leah McGrath Goodman identified Dorian Prentice Satoshi Nakamoto, a Japanese American man living in California, whose birth name is Satoshi Nakamoto,[30][31][32] as the Nakamoto in question. Besides his name, Goodman pointed to a number of facts that circumstantially suggested he was the Bitcoin inventor.[30] In the article's seemingly biggest piece of evidence, Goodman wrote that when she asked him about Bitcoin during a brief in-person interview, Nakamoto seemed to confirm his identity as the Bitcoin founder by stating: "I am no longer involved in that and I cannot discuss it. It's been turned over to other people. They are in charge of it now. I no longer have any connection."[30] (This quote was later confirmed by deputies at the Los Angeles County Sheriff's Department who were present at the time.)[33]

The article's publication led to a flurry of media interest, including reporters camping out near Dorian Nakamoto's house and briefly chasing him by car when he drove to an interview.[34] However, during the subsequent full-length interview, Dorian Nakamoto denied all connection to Bitcoin, saying he had never heard of the currency before, and that he had misinterpreted Goodman's question as being about his previous work for military contractors, much of which was classified.[35] '



'Later that day, the pseudonymous Nakamoto's P2P Foundation account posted its first message in five years, stating: "I am not Dorian Nakamoto." ' - wiki

[Witis]

There are even bitcoin A.T.M.s in the U.S.:
http://www.youtube.com/watch?v=ZqEdBCKFPAo

in Canada, in England:


in Hong Kong, etc.

[Shaggy Hiker]

Sharky, what do you make of the bitcoin phenomena?

Well, Bambi, I think it's kind of interesting how the price has fluctuated relative to the dollar. I wouldn't care to invest in it at the moment.

[dday9]

vb6 is alive and well

[dday9]

According to some.

[dday9]

Not to me.

[dday9]

But to some I suppose.

[dday9]

Personally, I don't see why some people still use VB6 in most cases.

[dday9]

I see the argument for COM libraries, but other than that they're(the arguments) all unjustifiable.

[Shaggy Hiker]

So....how do you manage to double post where it matters and not in the Post Race?

[dday9]

What double post

[dday9]

I'm thinking about writing a Basic4Html language rather than continuing my own language.

[dday9]

It would take BASIC like syntax and convert the source code to HTML5 compliant code.

[dday9]

Something like this:

Dim h As Head = New Head

With h
    .Meta.AddRange({New Meta With {.Name = "Author", .Content = "David"}, New Meta With {.Name = "Description", .Content = "Create super fast HTML5 code!"}})
    .Title = "Foo Title"
End With

Me.Head = h

[Shaggy Hiker]

What double post

Thereby making my post look baffling.

[Witis]

Well, Bambi, I think it's kind of interesting how the price has fluctuated relative to the dollar. I wouldn't care to invest in it at the moment.

It sure is Sharky, the price of bitcoin does seem a bit depressed due to the closure of the Mt Gox exchange in Feb 2014.
And there is always the possibility that the police will close the entire operation down at any time.

[Pc Monk]

Long time no post race!

[Witis]

Was it mid 2013 when you last posted Pc Monk?

[Witis]

Why the police will close bitcoin down:

[FunkyDexter]

They shouldn't close it down for being depressed. They should take it out, buy it a nice dinner, you know, make it feel loved.

[Witis]

So the initial rush of investing in bitcoin is wearing off and you want to put bitcoin on Prozac. The main problem is that the police can shut bitcoin down at any point in time effectively rendering them instantaneously worthless, meaning bitcoin and all of its imitators are likely to disappear as quickly as they appeared. They are even likely to make holding and trading bitcoins or equivalent pseudo currencies a crime. I don't imagine that any sized dose of prozac can fix that.

[Shaggy Hiker]

Which police force has the jurisdiction to do that Bambi?

If you look at the long-term value of bitcoin, it is still strong, but highly volatile. Makes for a wild ride as an investment.

[FunkyDexter]

Can I be Dumbo?

[Shaggy Hiker]

Your ears are too furry.

[dday9]

Are Elephants afraid of gerbils?

[Shaggy Hiker]

Is that a gerbil?

[dday9]

I suppose so.

[dday9]

Though I'm not entirely sure myself.

[Shaggy Hiker]

Hamster? Lop-eared rabbit?

[FunkyDexter]

I think it's a guinea pig but I wouldn't swear to it. Or at it.

[Shaggy Hiker]

Well, I'm not that familiar with them. Perhaps it's a New Guinea Pig?

[Witis]

Which police force has the jurisdiction to do that Bambi?

Your local government/police. Once either the police or the government realises that it is fraud then they will move in and shut down the bitcoin exchanges, atms, operations, and investors in their country.

If you look at the long-term value of bitcoin, it is still strong, but highly volatile. Makes for a wild ride as an investment.

Ah, but once you have high profile folks like Buffet warning everyone to stay away it clearly won't be very long before the police and governments step in. The ride could be over any second.

[Shaggy Hiker]

Your local government/police. Once either the police or the government realises that it is fraud then they will move in and shut down the bitcoin exchanges, atms, operations, and investors in their country.


Ah, but once you have high profile folks like Buffet warning everyone to stay away it clearly won't be very long before the police and governments step in. The ride could be over any second.

If Buffet tells people to stay away then a lot of people will. However, the run-up in prices appears to have been driven by rich Chinese looking to....do something with money of dubious provenance.

The local government can certainly shutdown local physical establishments, such as ATM's. They can't do squat about people investing on line, as they lack the jurisdiction. If person A wants to spend their money on a widget, or a +10 sword of wootage which only exists as bits in an on-line game, there is nothing the government can do to stop them from doing so.

[jayinthe813]

Which police force has the jurisdiction to do that Bambi?

If you look at the long-term value of bitcoin, it is still strong, but highly volatile. Makes for a wild ride as an investment.

As long as you dont lose your investment:
http://washington.cbslocal.com/2013/...h-7-5-million/

[Witis]

If Buffet tells people to stay away then a lot of people will.

He also called it a mirage i.e. fraud.

However, the run-up in prices appears to have been driven by rich Chinese looking to....do something with money of dubious provenance.

Bitcoin is worldwide, as is demand, hence the crazy prices, but the price has only really taken off since mid last year and that is why the police haven't shut it down yet, but they will; all it takes is one country to outlaw bitcoin and the bitcoin collapse will be worldwide and very spectacular. At the moment the governments are more concerned with taxation issues, but once they ascertain that it is a criminal operation bitcoin will fall.

The local government can certainly shutdown local physical establishments, such as ATM's. They can't do squat about people investing on line, as they lack the jurisdiction. If person A wants to spend their money on a widget, or a +10 sword of wootage which only exists as bits in an on-line game, there is nothing the government can do to stop them from doing so.

However, the government is very concerned with taxation, and if you don't declare your capital gains on assets, and bitcoin has already been declared property rather than currency in most countries, then you are risking being incarcerated for tax evasion. Worse is that it each bitcoin transaction is recorded in a public ledger potentially leading every government directly to your front door.

[Witis]

Once bitcoin falls the hunt for Satoshi Nakamoto, all of the bitcoin evangelists, and the tax evaders will be on in earnest.

[Witis]

Can I be Dumbo?

You have to like peanuts to be jumbo: