Easiest way to buy bitcoin (bank transfer): https://coinbase.com/?r=515f664d7198da63d3000016 In this tutorial I explain Bitcoin and demonstrate how to get st…
Video Rating: 4 / 5
Stefan Molyneux explains what may become the currency of the future.
If you want to mine and U dont have equipment to do it, you can mine in the
cloud, Obviously you have to pay for minig.
1GHash = 0.022 BTC, it’s really Cheap
*Cloud Mining*: https://cex.io/r/1/Gaudy/0/
Thanks for this explanation. I keep hearing a strange sound after your
speech, but it was clear nonetheless.
Very informative! As of 1:20 pm EST December 28, 2013, one Bitcoin equals
US$773, according to CNBC.com. If you go to CNBC.com and enter the quote
MTGOXUSD, you can find the current exchange rate of Bitcoin/USD.
Bits and Barbarism
By PAUL KRUGMAN
Published: December 22, 2013
http://www.nytimes.com/2013/12/23/opinion/krugman-bits-and-barbarism.html?_r=1&
This is a tale of three money pits. It’s also a tale of monetary regress —
of the strange determination of many people to turn the clock back on
centuries of progress.
The first money pit is an actual pit — the Porgera open-pit gold mine in
Papua New Guinea, one of the world’s top producers. The mine has a terrible
reputation for both human rights abuses (rapes, beatings and killings by
security personnel) and environmental damage (vast quantities of
potentially toxic tailings dumped into a nearby river). But gold prices,
while down from their recent peak, are still three times what they were a
decade ago, so dig they must.
The second money pit is a lot stranger: the Bitcoin mine in Reykjanesbaer,
Iceland. Bitcoin is a digital currency that has value because … well,
it’s hard to say exactly why, but for the time being at least people are
willing to buy it because they believe other people will be willing to buy
it. It is, by design, a kind of virtual gold. And like gold, it can be
mined: you can create new bitcoins, but only by solving very complex
mathematical problems that require both a lot of computing power and a lot
of electricity to run the computers.
Hence the location in Iceland, which has cheap electricity from hydropower
and an abundance of cold air to cool those furiously churning machines.
Even so, a lot of real resources are being used to create virtual objects
with no clear use.
The third money pit is hypothetical. Back in 1936 the economist John
Maynard Keynes argued that increased government spending was needed to
restore full employment. But then, as now, there was strong political
resistance to any such proposal. So Keynes whimsically suggested an
alternative: have the government bury bottles full of cash in disused coal
mines, and let the private sector spend its own money to dig the cash back
up. It would be better, he agreed, to have the government build roads,
ports and other useful things — but even perfectly useless spending would
give the economy a much-needed boost.
Clever stuff — but Keynes wasn’t finished. He went on to point out that the
real-life activity of gold mining was a lot like his thought experiment.
Gold miners were, after all, going to great lengths to dig cash out of the
ground, even though unlimited amounts of cash could be created at
essentially no cost with the printing press. And no sooner was gold dug up
than much of it was buried again, in places like the gold vault of the
Federal Reserve Bank of New York, where hundreds of thousands of gold bars
sit, doing nothing in particular.
Keynes would, I think, have been sardonically amused to learn how little
has changed in the past three generations. Public spending to fight
unemployment is still anathema; miners are still spoiling the landscape to
add to idle hoards of gold. (Keynes dubbed the gold standard a “barbarous
relic.”) Bitcoin just adds to the joke. Gold, after all, has at least some
real uses, e.g., to fill cavities; but now we’re burning up resources to
create “virtual gold” that consists of nothing but strings of digits.
I suspect, however, that Adam Smith would have been dismayed.
Smith is often treated as a conservative patron saint, and he did indeed
make the original case for free markets. It’s less often mentioned,
however, that he also argued strongly for bank regulation — and that he
offered a classic paean to the virtues of paper currency. Money, he
understood, was a way to facilitate commerce, not a source of national
prosperity — and paper money, he argued, allowed commerce to proceed
without tying up much of a nation’s wealth in a “dead stock” of silver and
gold.
So why are we tearing up the highlands of Papua New Guinea to add to our
dead stock of gold and, even more bizarrely, running powerful computers
24/7 to add to a dead stock of digits?
Talk to gold bugs and they’ll tell you that paper money comes from
governments, which can’t be trusted not to debase their currencies. The odd
thing, however, is that for all the talk of currency debasement, such
debasement is getting very hard to find. It’s not just that after years of
dire warnings about runaway inflation, inflation in advanced countries is
clearly too low, not too high. Even if you take a global perspective,
episodes of really high inflation have become rare. Still, hyperinflation
hype springs eternal.
Bitcoin seems to derive its appeal from more or less the same sources, plus
the added sense that it’s high-tech and algorithmic, so it must be the wave
of the future.
But don’t let the fancy trappings fool you: What’s really happening is a
determined march to the days when money meant stuff you could jingle in
your purse. In tropics and tundra alike, we are for some reason digging our
way back to the 17th century.
haha hides his username/email address then it pops up on the remember
password thing from chrome lol
The game Dragon Tale is very lagyy! Tip or do i something wrong with start
the game
its fun how bitcoins costs 15$ at the time he made this video, because they
cost 680$ now x)
I’m confused. Is MtGox tor-friendly? What’s the best for-friendly bit coin
exchange?
Bitcoin Cloud Mining:
https://cex.io/r/0/ferryultrastar/0/
I just caculated,if you use bit coin generator every time you generate for
free you get 0.00000002 bitcoins,if you want to procces your pc for 2
bitcoins you will need 100 000 000 times to click generate button ,that is
every time about 1 hour!
cool vid, just liked it…check out some videos on our bitcoin channel too
🙂 thx
Could you go ahead and not go ahead with beginning every sentence with “Go
ahead and…”
Hi guys, I have two things to ask, I like Mt Gox, but is there any good
sites just like that where I don’t have to show proof of ID where I can
still use an PayPal alternative to transfer my BitCoin too or from that
site? Also Dwolla is a US only site, unlike PayPal. Is there an alternative
to PayPal and Dwolla site that would still allow me to transfer my
BitCoins?
Please donate small bitcoin for my: 1HvA46qTp1sLBasBzS5NLjNueJbvo2Ekna
THANKS!
best bitcoins exchanger icq 611989603
How much is 1 bitcoin worth? And how long to mine it with a gamers high end
pc???
on the page probitcoin. org the first 5000 members get 0.05 BTC for
registering http://cur.lv/5ees1
mt.gox doesn’t take dwolla anymore
Has anybody actually found any decent BitCoin faucets? I only use one,
which is below if anyone is interested:
http://freebitco.in/?r=20965
Most of them are shit and have the worst payouts, that one is about the
best I’ve found.
free good way for free bitcoins http://freebitco.in/?r=52375
Please send Bitcoins to:
1KQv5UL2cm3KsHnybWgZyqfNTdNRzxAcNw
http://www.neonymous.com/id/chiara
very informative. thanks
get started with bit coin using http://bitcoin.org/en/choose-your-wallet
and to not spend money to see if u like it use
https://btcclicks.com/?r=4305eeba
its a pay per click site all you do is view a site wait for the 15 sec
timer then free bitcoins
Hello Youtubers,
I’m looking for a job, but i don’t found.
I tried to create two company, but already failed two times.
So now, i ask your help.
Please, send me some BitCoins, the amount you want, everything will help.
My adress : 1GNrEA7nkSuanj5HfgtEdAJEXCWLrspKbW
Thank you very much, god bless you all.
False. There is a central monitoring system, a network of computers, who
keep track and maintain the distributed system. It keeps records and
properties of all computers and users that are a part of the network,
otherwise you wouldn’t be able to be aware of the others and their
accounts. It’s made to record how many computers and users there are
worldwide.
Bitcoins = computer resources So what if technology gives from one day to
the other new supercomputers? quantum or nanocomputers or whatever? All
your old and costly bitcoins will worth nothing. What if a science labs
guy, testing new supercomputers creates hundreds of anonimous bitcoins?
That is absurd all about Bitcoins
@GeorgeeRobson yeah that video doesn’t say shit other than, we gonna use
machines to make everything, and have everyone fill out a survey to see
what they like best, and by magic engineers are going to determine the best
way to make the machines and magically know the best way to make the
machines do w/e they are supposed to do. Oh and ofc we can’t use money,
that is like some god awe full sin. seriously the video is nonsense empty
rhetoric. The only thing they got right is its all voluntary.
@FreedomAtRisk you have the brain of a snail. hater or educated critical
analyst? call me a hater but what point does that prove in the further
understanding of what you believe to be of value? with no oil, you cant
make computer batteries and computer parts so how would you manage moneys
of a computer based system? its a valid point. if you believe im supporting
his point, make a substantial knowledgeable reply. your system is based on
oil goods, can you deny that? ignorance much?
Money isn’t real. Yes it is (Used to be “Backed”) but in sense its a piece
of paper exchange for goods and services. Capital will be needed in one way
or another for goods and services. To say Money is real is laughable. All
you need is a hard day of work, a beer, and a nice relaxing night of sleep.
Bitcoins are worse than fiat!! Stay away….
People who say that this currency is imaginary forget that ALL currency is
‘imaginary’. The problem with the current currency is that it is CORRUPT.
It can be printed/digitally created at will. When you come to pick it up
your money, they say “Whops, we don’t actually have that money”. Then they
file for bankruptcy and get even more money from you through bailout.
Bitcoin already has footing and will make central banks obsolete. Which is
why banks will do EVERYTHING to convince you otherwise
tkabat1983… Lol take it you have heavily invested in fiat currency or
something? What is so shit about getting rid of banks and their control
over you through money? Taking back control from the governments!? What is
shit about empowering yourself?… I think the only thing that’s shit round
here is your comment!
@RustyKalashnikov That’s not how bitcoin works. At all.
@GeorgeeRobson so the people decide? sounds like a market to me, but if
they do it more directly, is everyone going to calculate opportunity costs?
and you still haven’t said how this is done, and without it you could be
putting resources to bad use. How determines whats best for everyone? and
by what standard? standardizing everything to equality doesn’t even touch
this issue. Oh and everything has an opportunity cost, to eat you have to
live with not helping starving people over seas.
meat and cannabis!! meat and cannabis!!
@RustyKalashnikov It’s a voluntary currency. Don’t like it? Don’t use it.
What’s wrong with a competing currency? Especially in light of a coercive,
monopolistic, inflatable currency by decree that enriches a select few?
Don’t guess about me on that last statement – search. Warning: you’ll eat
crow.
@salsa20 So you’re either too stupid to know what a ponzi sheme is, or
you’re more likely a detractor working for the Federal Reserve, because
ponzi sheme only refers to investments, and bitcoins aren’t investments but
currencies
@chronikful You sound off your rocker; calling me an idiotic Neanderthal,
then to justify this proposition you link future oil shortages with
computer parts as a reason why bitcoin can’t work.. I think it would be a
good idea for you to seek out a therapist.
@RustyKalashnikov There is no digital bank and no way to track transactions
to tax. Your supply of bitcoins is simply a computer file. Like any other
good, it’s up to you to protect it – whether you store it encrypted locally
or in a cloud. The exchanges are done p2p – no middleman, no central
authority, no coercion. It’s entirely decentralized and voluntary.
As we become more dependent of the internet in the future (Michio Kaku
speaks on how internet will become “invisible” and “omnipresent” through
widespread wireless conections and augmented-reality
glasses/implants/lens.) internet will become more available everywhere. 20
years ago the idea of getting internet on a Café or Airport would be
inconceivable, and today it is a reality. If you get disconected by the
government, just drive to a Starbucks or use your phone’s internet.
i here that obama will pay you too bitcoins if you vote for him, im voting
twice!!!11!!!! i here that michelle obama will pay you too bitchcoins if
you vote for her husband, im voating thrice!!!!!!two@@
digital money is bad. the government could disconnect people, like pykies
who do not have any national insurance numbers. You could do something
wrong and just get disconnected, you would not be able to do anything!
muy de acuerdo con Terry, si te convence adelante, si no, olvídalo y sigue
tu camino. para los interesados en Bitcoin, hay una aplicación muy buena
que encontré en internet, utilizaba BTCbalance pero tenia algunos problemas
con la cartera, estas pequeñas imperfecciones las tienes cubiertas con
bitbalance esta aplicación para android te permitirá seguir y gestionanr
tus balances en tiempo real, es muy bueno.
you cant do that with bitcoin the only what to shutdown bitcoin is to
basicly shutdown the internet
Game over man…Game OVER!
@ZSwierczynski more like a joint.
@salsa20 The transactions are anonymous if you keep your personal info
separate from the public key associated with the transaction. If you have
to expose your personal info – e.g. mail an item in exchange for Bitcoins –
use a different public key for the transaction. If you want to keep your IP
and thus, your ISP and personal info separate from the transaction, execute
the transaction through a VPN or proxy service such as TOR.
Anyone seen the movie “In Time”? Hope it doesn’t come to that.
@chronikful you totally just proved batmanthe’s point. kudos hater.