[Cialug] OT: Bitcoin

Wed Aug 27 18:12:00 CDT 2014

I am not sure I am smarter than anyone else, but I think the conversation
around this is helpful.

At the start of the bitcoin craze, it took me awhile to start to see the
potential.  Kind of like twitter.

On Wed, Aug 27, 2014 at 6:00 PM, jim kraai <jimgkraai at gmail.com> wrote:

> you, Scott, and Lee, Justin, and everyone else are the smart ones here
> who're doing something constructive by trying to gain a better
> understanding of cryptocurrency and the implications on different economic
> levels
>
>
>
>
> On Wed, Aug 27, 2014 at 4:29 PM, Scott Yates <Scott at yatesframe.com> wrote:
>
> > That is a good point Jim.  The whole "money laundering" argument has
> always
> > made me wonder how it was different than using cash.  I have to admit to
> > being naive/ignorant about much of the financial world however.
> >
> >
> >
> > On Wed, Aug 27, 2014 at 4:25 PM, jim kraai <jimgkraai at gmail.com> wrote:
> >
> > > as an aside, and no one should take this personally, i love hearing the
> > > argument that if a bad agency could use a ... widget, then
> > > 1. widgets are bad
> > > 2. anyone who uses a widget must be bad
> > > therefore we should criminalize the production, ownership, use,
> mention,
> > > thought, and even the word "widget" and expel third graders from school
> > if
> > > they draw widgets in art class
> > >
> > > i sure hope terrorists don't wear clothes or use hammers, because i
> have
> > a
> > > little construction project coming up this weekend that i'll need to do
> > > outside
> > >
> > >
> > >
> > > On Wed, Aug 27, 2014 at 4:07 PM, Lee Henderson <
> leemhenderson at gmail.com>
> > > wrote:
> > >
> > > > Actually every transaction is tracked and publicly witnessed. It is
> > true
> > > > that exactly who bought what is not necessarily known. However, the
> > same
> > > > can be said for physical currency (cash) transactions and there is no
> > > > public record unless of those unless one of the parties involved
> > creates
> > > > one.
> > > >
> > > > It's still the early days for Cryptocurrencies and being a miner is
> > only
> > > > one part of the equation. I feel everyone still has plenty of time
> > > > and opportunity to get involved.
> > > >
> > > >
> > > > On Wed, Aug 27, 2014 at 3:12 PM, Justin Richeson <
> > neomatrixjr at gmail.com>
> > > > wrote:
> > > >
> > > > > Yes, I understand the "value of value."  It's why I actually DON'T
> > buy
> > > > > gold.  When the "SHTF" is anyone really going to want gold?  Will
> it
> > > > really
> > > > > be worth anything?  Is the bible right in that a loaf of bread will
> > be
> > > > > worth a bag of gold?  But our money right now is worth something
> > > because
> > > > > the government will take it in payment of our taxes.  Though I get
> > your
> > > > > point...Bitcoin has worth because SOMEONE is willing to pay another
> > > > > currency for it.  As best I can tell it's valuable because it's a
> > > > > more-or-less untraceable way to transfer money.  Kinda.  You can
> buy
> > it
> > > > > "here" and sell it "there" and your money "there" isn't necessarily
> > > > linked
> > > > > to you.  That, or, you can buy it "now" and the money put into
> > > > > it...isn't...money.  At least not that the government cares about.
> > > Then,
> > > > > like gold, you can sell it "later."  Sounds like in either case
> > you're
> > > > > hoping you can sell it for more than you bought it and it seems
> like
> > it
> > > > > would have a lot of shady uses.  I'm all for not caring what the
> > > > government
> > > > > wants us to do but.....   Well, that's why I need a better
> education
> > on
> > > > > this.  Still just seems shifty to me.  Using computers to create
> this
> > > > > cryptocurrency.  Still sounds like a way for terrorists to hide and
> > > > > transfer money, or like someone's using some genius method to
> > > crowdsource
> > > > > the description of nuclear launch sequences or something.  Now I
> > > probably
> > > > > sound like some old conspiracy fart... 'snot my fault!  I don't
> have
> > > time
> > > > > to understand EVERYTHING :'(.  Wish I did...but this whole
> > > > > bitcoin/cryptocurancy thing has just passed me by and from what I
> > > > > understand the real lucrative phase has kinda past. (not to
> mention I
> > > > don't
> > > > > have the right hardware to do hardcore mining).
> > > > >
> > > > >
> > > > > Meh...just my rambles.  Ignore or comment as you wish.
> > > > >
> > > > >
> > > > > On Mon, Aug 25, 2014 at 9:20 PM, brian at broughtonhome.org <
> > > > > brian at broughtonhome.org> wrote:
> > > > >
> > > > > > What is value
> > > > > > What is it you want
> > > > > > What is the value of value
> > > > > > How bad do you want it
> > > > > >
> > > > > > Sent from my HTC One on the Verizon Wireless 4G LTE network
> > > > > >
> > > > > > ----- Reply message -----
> > > > > > From: "jim kraai" <jimgkraai at gmail.com>
> > > > > > To: "Central Iowa Linux Users Group" <cialug at cialug.org>
> > > > > > Subject: [Cialug] OT: Bitcoin
> > > > > > Date: Mon, Aug 25, 2014 8:04 PM
> > > > > >
> > > > > > warning, bait ahead
> > > > > >
> > > > > > do not read further
> > > > > >
> > > > > > it"s a trap
> > > > > >
> > > > > > turn back now
> > > > > >
> > > > > > what is value?  what's the value of value?
> > > > > >
> > > > > >
> > > > > >
> > > > > > On Mon, Aug 25, 2014 at 7:19 PM, Todd Walton <tdwalton at gmail.com
> >
> > > > wrote:
> > > > > >
> > > > > > > On Mon, Aug 25, 2014 at 12:33 PM, Adam Hill <adam at diginc.us>
> > > wrote:
> > > > > > >
> > > > > > > > Just like real money, crytocurrency only has value because
> > people
> > > > > > decided
> > > > > > > > to attach value to it.
> > > > > > > >
> > > > > > >
> > > > > > > It's kind of like food in that way.  It only has value because
> we
> > > > > decided
> > > > > > > to value it.
> > > > > > >
> > > > > > > --
> > > > > > > Todd
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