Topic: xkcd's bitcoin hole (Read 21897 times)

We are well off topic, I can see where you are coming from but it suffices to say, it is not that simple. Supply, demand and knowledge of future market expectations weigh heavily.

It's exactly like saying that you can spend now the average annual salary of your grand-grand parents for a video game. How stupid is that? And think about Satoshi himself! He could have generated the whole bitcoins alone in his basement and earn 21*6 millions of dollars! He was really stupid to not do that and to release his software before every coin was mined.

If that guy didn't spend his money for a pizza, if every bitcoin holder was willing to hoard them, bitcoin would have never reached the 6 dollars mark.

This made me research briefly and find http://mykindred.com/cloud/TX/Documents/dollar/

In a bizarro world maybe ... in the real world he dumped $50,000 on a couple of pizzas. Time to get real?

I don't at all.

Either he's hoarding a lot more of bitcoin and he doesn't care, either he was a fool to spend all of his bitcoin.

Also, don't forget that it is how economy works. If everybody seats on his money, the money is worthless. By buying this pizza, he increased the circulation of money, increased awareness about bitcoin. It was a really smart move.

If the two pizzas for 10,000 BTC doesn't make it into a xkcd strip it should ... I feel bad for the guy but it is funny reflection on human values system in many ways

C'mon Randall, toss us a bone, you know you want to ... geeks with outrageous computer projects ... what more material can you ask for?

That was me

I agree.  Bitcoins are practically worthless.  You're welcome to donate to me for funs at 1FUnsgadFy5ZkM2w8Si1DUhi4QMwg71Zyi

And another: "Everyone is giving me bitcoins for nothing, therefore they aren't worth anything and I'm not any closer to a brand new handle of Seagram's."

That's one way of looking at it. Another way would be to think "Wow if people are willing to give away hundreds of BTC then imagine how much they would be willing to spend!"

*sputtering*

Someone beat you to it: http://blockexplorer.com/tx/122edd5cc36421f0a0b681927d77236da425863ca3ba48b6b745dda48f611a50#o0

Want to send 3.14 bitcoins. If only I had more money

If I were Randall at this point I would never make Bitcoin a payment option on my store. Apparently people will give you hundreds of bitcoins for free, so why do all the work of selling things?

(This is why I haven't "donated" yet---I'm waiting to actually buy something.)

I would prefer to see a comic poking fun at bitcoin. Just imagine:

box 1: someone is buried into huge computers producing insane it. A woman come: "what are you doing?"

Box 2: guy: "I'm mining for bitcoins, which is a virtual money. I sell those virtual bitcoins for real dollars in order to pay for my hardware. At the end, I should make an huge profit."

Box 3: woman "And what will you do with all this money ?". Guy : "Invest it in something very risky but cool. Like bitcoin. Lot of bitcoins!"

He's up to 354 BTC... not bad for a little 'black hole' as it was called.

http://blockexplorer.com/address/1Lg2rvxbBPC8jp2YJoV5xL7sdyTjueMUot

Very cool.

As cool as possible in fact.   

Donation sent.

And..... Bump!

dM

Bitcoin doesn't prevent anyone to make loans.

I actually don't think the fractionnal reserve system is so bad.   I just think people should be allowed to try an other one.

Also, in the expression "fractionnal reserve" has the word "reserve" in it.  Those reserves have to be reserves of something.

Those reserves used to be gold.  They will be bitcoins.

that'd be awesome; p.ex. a roomba buying itself a new firmware with bitcoins stolen from the owner ; )
but that's more questionable content / pintsize stuff

heh, i think sending the fibonacci sequence would be good
http://xkcd.com/289/
1.1235813 or 11.23581321
anyone with a modded client that lets you send full-precision amounts - go for it.

The more ridiculous the amounts are, the more likely that will happen.

I'm still waiting to see:

6.66
4.20
8.675309
...

Just sent him a small donation! I'm pretty confident we can get him to talk about bitcoin at one point or the other if we keep sending him coins

Done.  I just sent him 0 + 8i  BTC. 

Whaddaya mean that's not real?

I've been a regular reader of XKCD for years, but I've never bought any merchandise. Thanks for the laughs, Randall! Please keep up the great work and enjoy 5 BTC worth of gin from me!

No, it won't.

That made me think about the implications of the ability to send a negative amount. Probably a good thing the network won't allow it. It won't, right?

1. Funny
2. Funny
3. Please explain. Google makes it impossible to search for non alpha-numeric characters.
4. Funny

Found it, sqrt(2). Duh.

So when is someone going to send him i BTC?

funny donations to xkcd of note from Block Explorer:

13.37 (two of them)
3.14
1.41
0.69

I sent 2BTC.

donated 0.10 =D

xkcd waycool!

That is true to a point, however interest on that dept is almost always higher than inflation so...

Poor people have debt, the real value of which is reduced by inflation.

sent a few coins, xkcd is amazing.

[Offtopic] Funny typo on that site: Awesome (Window Manger)

Did anyone point out this site to him? He has well over 150 BTC worth of pledges. Not exactly enough to retire on, sure, but it's decent money for a few hours' labor setting up an Mt Gox account and a Bitcoin checkout.

My favourite comic is the cryptonerd one.
My favourite non comic is the explanation of radiation doses.
Awsome.

Whoa, big tangent. Good point, well made, but it's been made a 100 times, and you're preaching to the choir on this board.

Anyways, you are distracting people from how awesome XKCD is, and that is NOT ON!

Funny comic... sent my 2.99 coins.

I wonder if he'll mention bitcoin in an actual comic at some point

You see inflation is good because without it no one would have incentive to produce centralized failure-prone easily-monopolized technologies that they can then sell to central banks hurf durf.

Great job, I love XKCD :-)

I donated 5 BTC just because I've always been into XKCD but am not interested in crappy swag.

Looking on the XKCD forums, the first reply to the bitcoin thread made me chuckle.


I agree that someone doesn't understand what a central bank does but it isn't the creator of bitcoin. A central bank counterfeits money, which is a form of theft since it's making the dollars in our pockets worth less which hurts the poorest worst of all. It's just plain evil. As for bank loans, no, fractional reserve banking is a form of fraud. It says that two people own the same money which isn't possible though it works as long as nobody wants their money at the same time. As soon as a bank run occurs though, you're screwed. Of course, the answer to that is to just print more monopoly money, which of course is the exact same thing as taking money from out of our pockets. Let's not even get started on the constant bubbles being created thanks to distorting the markets through artificially low interest rates. Who would have thought that interest rates aren't arbitrary and actually have some sort of role to play and that you can't just force them to remain low without consequences, much like minimum wage laws have consequences for forcing wages to remain artificially high, namely, more unemployment for unskilled laborers.

i donated a little too.  hopefully randall carries through with his gin purchase and makes it known.  any gin merchants out there?

Great! I I love xkcd and donated 0.5 BTC. I will donate more when I become more wealthier!

A few more quotes from about four hours ago:

We don't have donations of any kind, actually.  I mean, there are prints you can buy, and you can pay more if you want.
I only learned about bitcoins a month or so ago.
I don't solicit donations on my website, and I have avoided soliciting donations through various systems where I hadn't decided to actively promote those systems (i.e. flattr and bitcoin).
Like, a lot of people contact me and are like "can you sign up for $PROJECT and we'll get a button on your page and people can donate to you!" and I feel like the main effect of my doing that would be promoting $PROJECT.
Which isn't really something I do on solicitation, if only because the  moment I did, I'd be flooded with more solicitations.
And email is hard
here's how far I'll go: if anyone types this URL, they can see a black hole into which they can deposit bitcoins: http://xkcd.com/bitcoin/
it'll be interesting to see if anyone stumbles on it.
I am probably legally obligated to let you know that I am not a charity and will probably be spending the money on extremely unwise things (i.e. gin)
Hooray!  I have some bitcoins now.
if you can convince some gin seller to accept bitcoins without converting them to usd, you'll be a hero
and then the bitcoin community will collapse into drunken brawls

Also, thanks to cuddlefish for mentioning the XKCD mining pool, which led to Randall setting up the very simplistic webpage.

it'll be interesting to see if anyone stumbles on it.

Let's contniue to show our support and help to express our appreciation for Randall's amazingly amazing comics and help to convince him to better adopt Bitcoin!

Donated my entire 0.05 bit-cents!

The more we donate, the more likely he is to add Bitcoin purchasing at the XKCD store... let's do it!

Also, for people with IRC, there is a XKCD bitcoin discussion channel: irc.foonetic.net, #xkcd-bitcoin

Sent mine. This is great! All the right people are starting to accept bitcoin donations.

You know Randall?! Sweet!

Donated 5BTC. Let's all do it. :-)

here's how far I'll go: if anyone types this URL, they can see a black hole into which they can deposit bitcoins: http://xkcd.com/bitcoin/

http://blockexplorer.com/address/1Lg2rvxbBPC8jp2YJoV5xL7sdyTjueMUot
updated: http://blockexplorer.com/address/14FHqYSgAi39CEJksUJJsK8JzJzyqFpLVk