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  1. #21
    no acoloss's Avatar
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    Default Re: Fuck EQ2, This is the future i've been working on for the last few months

    Quote Originally Posted by Dankshasta View Post
    I think they could work, but I hope they don't. It's a ridiculous premise, and a lot of people don't know it, but bitcoins are having a very negative impact on the enviorment. I agree that a global standard makes sense in a lot of ways, but it needs to be attached to something of value, not just based on some consumption of resources. This is just a new currency based on nothing. If we are going to stay on a arbitrary currency, then it might as well go on being the US dollar for a number of reasons.
    First, i'm not good at economics


    The attached value to bitcoin is the proof-of-work (PoW) which was required to generate the coins, but as with any currency it's valued by human belief/faith... what is the USD backed by?
    i'm not sure about the USA, but in the UK money was backed by gold, this is no longer the case... Paper money is in reality useless and can be manipulated and become worthless very easily.. it's value is what humans place on it..

    It's no good to use dollar (or euro or GBP).. when they (the countries) are in massive debt, and the government can just pump (create out of thin air) another few trillion dollars therefore devaluing your currency and causing world wide problems..

    Money/Gold has value because we say it has (faith?).. it has no advantage over bitcoin, only disadvantages..

    People have had faith in gold for thousands of years, but still, it's pretty useless..

    The advantage of gold being currencies is/was and why people invest is because :

    It's deflationary (there is only a finite amount), the value should go up.. so people invest/store in it.. probably 95% of gold is stored in vaults... people trust/have faith that it will go up or if the economy collapses it can be used as a form of trade (if the entire world fucked up i'd rather have a vault of food than a vault of gold).
    It does not "die" over time.
    It can be split easily and does not decrease it's value -- diamonds are expensive, but the reason it was/is not used as a form of currency (not really) is because it cannot be easily split.. if you break a diamond in 2, it's total value is reduced.
    People liked the colour (solar metal?)
    other stuff that i cannot remember....

    Bitcoin has the above advantages and more

    It can be split easily
    There is a finite amount
    it's backed by people all over the world

    It can be transported in minutes
    The fees are microscopic.


    Gold (or USD) has no real value in the way that you say bitcoin has none attached to it.. Gold's value is based on nothing - (it's actually use is tiny and there are other metals that do a much better job in electronics).
    IF people decided they didn't want gold tomorrow it's value would plummet.. there is no demand for gold other than faith in it's value.

    all i'm trying to say, is bitcoin does not need to be attached to anything, as almost every currency is not attached to anything but faith/belief.. Even a currency backed by gold, as the gold is only valued by belief/faith.

    Decentralization is the correct path for a free world... this brings belief into the currency, just as to how people believe in the US dollar..

    also check NMC another project i worked on : https://bitcointalk.org/index.php?topic=236375.0
    Based on bitcoin, it's pretty much identical except you can registered names (or domain names) within the blockchain, which use the .bit tld (need some tweaks to get it working)...
    These names are censorship resistant and cannot be shutdown by governments..

    at first people thought bitcoins were useless, but over the 4 years it's been going, it has now

    by the way, i dont have loads of bitcoins.. have almost none, i'm broke (in debt ).. this is not going to make me rich

  2. #22
    Official Troubadour of the Cleveland Cavaliers Dankshasta's Avatar
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    Default Re: Fuck EQ2, This is the future i've been working on for the last few months

    Bitcoin's Environmental Problem | CleanTechnica


    Somebody might make a killing, but at the end of the day I'm just a tree hugger.

  3. #23
    Dragons & Shit Yo Maddaus's Avatar
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    Default Re: Fuck EQ2, This is the future i've been working on for the last few months

    I think the worldwide common currency should be meteorites. It is worth a good amout per ounce and you never know when and where more might hit the earth.

  4. #24
    Team Portbott Khryll's Avatar
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    Default Re: Fuck EQ2, This is the future i've been working on for the last few months

    Quote Originally Posted by acoloss View Post
    First, i'm not good at economics


    The attached value to bitcoin is the proof-of-work (PoW) which was required to generate the coins, but as with any currency it's valued by human belief/faith... what is the USD backed by?
    i'm not sure about the USA, but in the UK money was backed by gold, this is no longer the case... Paper money is in reality useless and can be manipulated and become worthless very easily.. it's value is what humans place on it..
    The gold standard in the US was suspended by FDR and then again by Nixon. Fiat currency all day. We'll just keep creating our 1 tril a year to buy mortgage securities and gov't bonds. Don't mind us.
    Quote Originally Posted by Paperclip View Post
    Moderator Khryll's word is law.
    Quote Originally Posted by Cloakntuna View Post
    Moderator Khryll has spoken.

  5. #25
    I bury those cockaroaches
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    Default Re: Fuck EQ2, This is the future i've been working on for the last few months

    LOL Khryll. Hey Im broke and I want to cover it up. Im gonna print 1 trillion and we pretend its backed by something more than air. GG

    I was watching some shitty show on early humans and saw that they used large round rocks with a single large hole in the center to show off in front of their teepee. If you had a big one you were quite wealthy. I think we should go back to that. In hawaii the word for wealthy translates to something like Water, Water. Having a fresh water stream on their land was the cats ass for them.
    Give me crack, anal sex, take the only tree thats left and stuff it up the hole in your culture.

  6. #26
    Dragons & Shit Yo Maddaus's Avatar
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    Default Re: Fuck EQ2, This is the future i've been working on for the last few months

    FBI seized the bitcoin site.

  7. #27
    Ghostly Gardener Pink Poodle's Avatar
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    Default Re: Fuck EQ2, This is the future i've been working on for the last few months

    now where else are you going to get brain damage

  8. #28
    A Weir Broanforlife's Avatar
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    This game blows

    Default Re: Fuck EQ2, This is the future i've been working on for the last few months

    Lol yeah FBI and the other agencies just ran train on SR and shut that shit down
    Quote Originally Posted by Beandip View Post
    Im hoping this is sparked by someone's leaper mount just grinding their nuts on your corpse after you got slaughtered for the billionth time in this game
    Quote Originally Posted by Davngr View Post
    I'm usually is "shrugged off" in a discussion about game stuff because I really have no fucking clue what im saying half the time...

  9. #29
    A Horse's Ass Jolach's Avatar
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    Default Re: Fuck EQ2, This is the future i've been working on for the last few months

    Justice at work, I'm sure.

  10. #30
    Official Troubadour of the Cleveland Cavaliers Dankshasta's Avatar
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    Default Re: Fuck EQ2, This is the future i've been working on for the last few months

    Quote Originally Posted by Phineus View Post
    LOL Khryll. Hey Im broke and I want to cover it up. Im gonna print 1 trillion and we pretend its backed by something more than air. GG
    I see you're point, and yeah it's nuts. At the same time though, as long as there is going to be an "imaginary world currency based on nothing" it might as well be the US dollar. We have an amazing amount of leverage (Americans) because we print the only "world standard". It's a bad, no horrible system, but at least we are the ones printing them!

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