Topic: Parity Party!!! - page 2. (Read 9445 times)

SSATURDAAAY NITE GUNNA GET WAYSTED!!!!!!!!!!111111111111111111111111111111

I wish, but if the government attempts to regulate it (which is inevitable after being mainstream for long enough) then attempting to convert bitcoin into goods and such would be taxable.  If the government thinks Bitcoin is a mainstream commodity they can tax on it, because in any trade you stand to gain and anything you gain that the government recognises is taxable.  Although it would be easy to evaid the taxation in most cases, currently there is nothing wrong with giving and recieving whatever you want on Bitcoin and I for one would like to continue that luxury without breaking the law or having to pay taxes over transactions.

Please not mainstream.

I think it's a very bad idea to go mainstream, simply because it will make it very easy for the government to control what we do and start refining our freedom by taxing transactions etc..  It's right to say that going mainstream will mean embracing government regulations.


I would've thought 'going mainstream' implied a degree of registration with authorities, so I thought government regulations would be unavoidable if we went mainstream (which is why I'm against trying to go mainstream).

Talking of two sides to the bitcoin economy working seamlessly with each other though, I'm not so sure.  It sounds to me like the side that follows the rules would end up getting penalised for transactions with the side that didn't.

I disagree with the need to embrace government regulations. But I think there will be two sides to the bitcoin economy. Some will want to follow government regulations and registrations etc. and they can do that. But there is also the side of the economy that will operate outside of government controls, and because of the nature of bitcoin, these two sides, legit and otherwise will be able to operate seamlessly with each other.

Bitcoin going mainstream means embracing government regulations.  Mt Gox has already started, by limiting withdrawals to $1000/person/day (or equivalent withdrawal in bitcoins).

Everyday consumers simply want an easy way to pay vendors.

This post I made before.

https://bitcointalksearch.org/topic/m.45221

I must admit I'm still worried about this problem.  We don't want to turn BTC into a bubble, waiting to burst.  BTC would see wild fluctuation in value for the ebb and flow of investors; this can make or break a project like this.

BTC needs to rely on a community worried about security and freedom, not value.  This would, ironically, increase its value in the long-term and make it more stable, but money-hungry investors buying into BTC even right now are going to sell out as soon as the going gets tough and the value looks like it's reached a turning point.

We're a growing economy but we're still susceptible.

I'm prepared to be enthusiastic, if you'd fill me in at least...

I'm worried about two things, the exchanges being shut down by the authorities, and there not being enough goods and services offered for bitcoin.

Problem 2 is easier to solve and once it does it will guarantee that the value of bitcoin will continue to rise, after all there will always be an increasing number of goods and services in a growing economy.

Problem 1 is going to be more difficult, I've already proposed a solution but there doesn't seem to be much enthusiasm for it.

Thanks for the warm welcome...


Really I was directing my attention to the people posting about technical values like totalling the worths of bitcoin and USD and such, trying to make a point that at the end of the day that's not what gives a currency strength.

Even so, for anyone who has bitcoin they'll be getting richer every minute, and I feel that the inflation will continue for a long while and stabilise.  We just need to get the community expanding and get investors interested and continue mining, all of which are happening.  This will continue to cause the apparant inflation.  It will level out when the community reaches a limit (only so many people will be interested in bitcoin) and we reach our generation limit (mining won't produce infinite money).  In order to keep it stable we would need an active community that buys and sells bitcoins for goods and also for other currencies.

My concern is that when it levels out people will 'jump ship' and no longer see bitcoin as a good investment, and it will quickly lose worth.  That's why we shouldn't be encouraging bitcoin to investors, but instead people who will benefit from a free currency.  Otherwise when the investors suddenly leave they will have created a bubble and it will burst destroying what the free community were working towards (or at least setting us back a great deal).  They will leave as soon as the inflation shows any sign of levelling out, and when any amount leaves they'll all quickly follow suit.

If people who invest in bitcoin do so to use a free P2P currency with no tax or control by the government then it will grow slower but grow nonetheless and won't suffer a sudden burst.  Then we just need to worry about what happens when interest inevitably decreases and alternatives are found.  This will cause severe deflation but I admit I'm still lost as to how to solve that one... working on it!

I have a friend who uses that site, I'm chatting to them. What is the link and title and I will get it posted.
I think the same can be done for reddit. So link please.

We humans like neat number.

Yeah, probably cause I just created my account and just linked to bitcoincharts. Someone who's been there longer should try.

You seem new to the party (forum), so I think you have just learned about bitcoin and are very excited about it. Welcome to the forum. In answer to what you said, yes bitcoin is worth whatever we think it is, and the collective belief of everyone buying or selling bitcoin is the market value.

Yes it doesn't really mean anything that we have hit dollar parity but it is a mental thing, I think more of a mental barrier that has been broken. Bitcoin is bitcoin.

These are all meaningless (especially USD parity).  Bitcoin's worth as much as we want it to be and until we get that very simple idea into our heads, we're not going to be able to comprehend when we really should be celebrating.

For one thing I guarantee that it will continue soaring up and won't stop at USD parity, or GBP parity.  Nope, it's gonna continue for a very long time.

The only good thing about this is your current BTCs are worth much more than they were before, well done; you're all slightly richer.

The bad news is I bet your bottom dollar you don't have the share of BTC you want yet, and although you never will, it's going to be harder to get BTC with inflation.

This is all really simple stuff, BTC parity with USD is about as special as BTC's birthday; celebrate it if you will but don't take any heed.

And yes, "the number of bitcoins in circulation equals the value of the US dollars in circulation" is also not special, since that is down to the value behind the money and even then it all boils down to which one's more stable.  So again, stop trying to find value in numbers that mean very little and can help us with not very much.

And it got killed on first sight.

Submitted a link to hacker news:

http://news.ycombinator.com/item?id=2200290

Apparently I can't reply to my own submission to provide context and more links.

Did anyone forward a piece to Tyler Durden and get it up on zero hedge www.zerohedge.com ?

They would be interested I think.

Everyone go grab a friend, call up an ex, and take them out for a drink!  Time to celebrate!!!

Congratulations, Everyone!  Now on to the next target - the Euro, the Pound, gAu, and beyond...