@pmarca Are you predicting that some day the United States will become a democracy? :-P
@aantonop Any recommendations for interacting with the press? I’m being interviewed on camera by local news next week.
RT @pmarca: And yes, CrowdtiltOpen supports crowdfunding using Bitcoin! http://t.co/9iGNJbOx2P
@cryptotraveler LOL, “gaming cards.” pic.twitter.com/XMa14YFV4a
@mikestable @pmccall777 You can blame @pmarca for giving me the idea for this style of tweeting. ;-)
Bitcoin has value for many reasons, but it represents communal resources that also have value, and it offers utility by leveraging them.
This limitation is important because the infrastructure uses real, finite resources. Computational power, bandwidth, and hard drive space.
This is how the network infrastructure is kept from being abused, by making its use artificially limited.
Instead of seeing bitcoins as currency, I see them as resource tokens. If you want to leverage Bitcoin’s features, you must use the tokens.
Bitcoin is a distributed accounting ledger and data platform. Ledger is measured in units of bitcoins, subdivisible to 8 decimal places.
There’s much debate as to if Bitcoin is a currency or a commodity. I find it to be a currency that is built on top of a commodity.
@twobitidiot I mostly agree, though it makes sense that they’d want a price index with an algorithm that they have defined. Terrible name.
@mikestable P-I-Z-Z-A via @jefft http://t.co/VhoumWeGAH
O creator who art in cyberspace,
Satoshi be thy name.
Your blockchain come,
many hashes be done,
on our phones, as it is on our desktops.
I’ve been called a “Bitcoin apologist” on numerous occasions, as if this is derogatory. I assume they mean in the religious sense. So be it!
@mikestable @gavinandresen heheheh let’s not delve into economic theory :-)
@mikestable @gavinandresen Think of it just like seeding and leeching torrents. Why would anyone keep seeding a torrent once they have file?
@mikestable @gavinandresen You’re jaded. It’s for the benefit of all involved! The system will be able to support some leeches, but not 100%
@kyledrake You’re not the only one sick of them. No worries, the market will react appropriately. As you have shown. :-)
“If you are making a profit using [open source] software, you are expected to help develop, debug, test, and review it.” - @gavinandresen
@wraltraffic I’d be happy to.
Failure of high profile, poorly managed Bitcoin institutions will have short-term negative impact on value. But Darwinism is good long-term.
Best Gox comparision I’ve seen: the poorly managed “Wildcat banks” of the gold rush. https://t.co/2yjhWHbvo0
Mt Gox’s death spiral continues. Fascinating to watch, as there are no bailouts in the world of Bitcoin. You lose trust, you die.