[Cialug] OT: Bitcoin

Wed Aug 27 18:38:10 CDT 2014

smart behavior

apologies for using the term ambiguously

On Wed, Aug 27, 2014 at 6:12 PM, Scott Yates <Scott at yatesframe.com> wrote:

> 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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