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[Reuters] Japan says any bitcoin regulation should be international - Page 4  

post #31 of 57
Quote:
Originally Posted by Vagrant Storm View Post

Has one seen or heard of Mazacoin? I've been reading about it on Twitter as of late. It is a virtual currency being launched by Native Americans on the Pine Ridge Reservation not too far from my old home town. What this means is that it is a little harder to touch by US federal hands.

It is supposedly out and about on the exchanges now I guess. I was going to look into it.

Thank you for sharing that info! Interesting!
post #32 of 57
Thread Starter 
Quote:
Originally Posted by Vagrant Storm View Post

Has one seen or heard of Mazacoin?

If it weren't SHA-256, it may have been worth considering biggrin.gif
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post #33 of 57
Quote:
Originally Posted by Newbie2009 View Post

In what way?


so that it is a fair and accessible currency for all that provides a real tangible sense of worth in payment for every day real world work. Beyond that starting point it needs insurance and security should people lose large sums of money or at least some sort of law against fraud using the system, otherwise when people lose money the answer 'tough luck' wont cut it. it wont cut it for investors,banks, the layperson. It also needs to be so stable that even micro fluctuations dont send the world markets hurtling down and crash an entire economy sending a state into anarchy in a matter of moments.
post #34 of 57
Quote:
Originally Posted by phill1978 View Post

so that it is a fair and accessible currency for all that provides a real tangible sense of worth in payment for every day real world work. Beyond that starting point it needs insurance and security should people lose large sums of money or at least some sort of law against fraud using the system, otherwise when people lose money the answer 'tough luck' wont cut it. it wont cut it for investors,banks, the layperson. It also needs to be so stable that even micro fluctuations dont send the world markets hurtling down and crash an entire economy sending a state into anarchy in a matter of moments.

I agree with most of that, but it will never have a tangible worth. Just like any fiat its just a means of exchange. It is still in its crib though and could well be strangled.
Things like insurance could be provided by the free market, if there is any such thing anymore.

Ultimately being "regulated" in the same sense as the dollar is regulated, would be pointless. You have to remember irresponsible governments are the reason people have lost faith in the system as it is, bailing out their buddies in the banks with money printed out of thin air.
post #35 of 57
Quote:
Originally Posted by Newbie2009 View Post

I agree with most of that, but it will never have a tangible worth. Just like any fiat its just a means of exchange. It is still in its crib though and could well be strangled.
Things like insurance could be provided by the free market, if there is any such thing anymore.

Ultimately being "regulated" in the same sense as the dollar is regulated, would be pointless. You have to remember irresponsible governments are the reason people have lost faith in the system as it is, bailing out their buddies in the banks with money printed out of thin air.

Im not justifying existing currency, before that we have other means, fiat is just what we have now. Just saying for it to work fairly and safely enough for the real world there needs to be a method of interchange where real work input in the physical real world is paid in bitcoin, if you can work out how to do that now and ensure its not easier to sit on a PC vs be a plumber or whatever other profession that is required then i don’t see a problem.
post #36 of 57
This is less like currency and more like stocks and hence should be treated as such. Without regulation this is a powder keg, rather a dirty bomb just waiting for the fuse to be lit or the counter to reach 0.
post #37 of 57
"I'm gona get a cheap gpu" "I can't wait for this fad to be over"
it still won't be any time soon.. if you want good newss ^
scrypt based asci miners are here for you. not this news article.
it will still take years. before you see a decent priced gpu
Edited by HexATL - 2/28/14 at 10:27am
post #38 of 57
Quote:
Originally Posted by phill1978 View Post

Im not justifying existing currency, before that we have other means, fiat is just what we have now. Just saying for it to work fairly and safely enough for the real world there needs to be a method of interchange where real work input in the physical real world is paid in bitcoin, if you can work out how to do that now and ensure its not easier to sit on a PC vs be a plumber or whatever other profession that is required then i don’t see a problem.

Yeah I know what you mean.
post #39 of 57
I see this in a complicated situation, the only reason why bitcoin is crashing is because it's centralizing tooo much. China BTC farmers and so on. This is a perfect example of how humans are destroying their own planet. To become efficient and produce more than others is always at the cost of your surroundings. Bitcoin to me is officially dead and any other crypto needs to cut it's ties associated with it.
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post #40 of 57
Quote:
Originally Posted by Slomo4shO View Post

Quote:
Originally Posted by Vagrant Storm View Post

Has one seen or heard of Mazacoin?

If it weren't SHA-256, it may have been worth considering biggrin.gif


ahh, well, I haven't seen anything on it yet. Just a high over view of it.

I wouldn't mine it then...but then I don't mine anything. I just buy and sell. So it might still work for me.
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