Roseanne’s on board with Bitcoin

30 comments on “Roseanne’s on board with Bitcoin
  1. Mike Hunt III says:

    In other bitcoin related news overstock dot com began accepting bitcoin today.

  2. Nat says:

    Oh dear! With Roseanne on board it is doomed.

  3. mac says:

    Bitcoin is to get people out of Gold as a replacement for fiat money.
    J P Morgan has a patent on a new type of Bitcoin. Wonder why?
    Max is going both ways…

  4. Nat says:

    RE: Overstock.com

    Wow! What amazing news! They have added another payment processor! Wow!

    They’ve now got coinbase as a payment processor – that’s great, but only in the world of bitcoin enthusiasts should this be any greater news than say using WorldPay or PayPal.

    Obviously it is better news than those two and hopefully BitCoin can accumulate enough daily trade use to actually catch up with its 500 times over-valuation.

    Overstock are converting immediately to dollars – so should not change much other than killing the expensive processors.

  5. Rioting like a chimp says:

    This is what gets me about BTC et al….

    I have had my eyes openned with the help of Max Keiser and reading a wide range of material. I now understand how the world really works and the relationship between companies, their custumors and sovereign entities. In short Max and others have made me become more street and world wise.

    However, unless you excel in C++ programming and intimately familiar with all matters relating to currency and business then BTC requires blind faith / trust.

    I’m investing my money in what I know including new skills. In hindsight, I should have bought BTC with a view to gambling on a horse; spending cash I can afford to lose but if it becomes big then it’s a punt that paid off.

    I’m not covinced it a currency for anarchy liberal free loving people. I’m more convinced that it is a tool to distract people for the real enemy of unbacked currency and if the masses adopt it then I see central planners easily taking it over and being the ultimate winners. Why? For the following reasons:

    1. It is completely traceable.
    2. It requires nothing to back it. At least the existing currency has some sort of metal or paper!
    3. There is no real cap to BTC. I say this based on:
    3.1 More digitl currencies can appear
    3.2 BTC can be divided to any decimal place you wish.
    3.3 If the majority of BTC holders agree to remove the cap they can. This is aided by point 3.2.
    4. BTC is being watched very closely by those dispicable entities that understand it.

    I can see why Max and Stacy are promoting BTC but if I did buy BTC when they said I would be agonising about getting out now.

    I just don’t like it no matter how hard I have tried to.

  6. JoeinSyracuse says:

    Thought it was supposed to kick off in the 2nd half of 2014, that was quick.

  7. Trevor Morgan says:

    I still do not understand Bitcoin fully so this article has got me confused: http://en.wikipedia.org/wiki/Total_Information_Awareness

  8. yeano says:

    @Trevor

    Bitcoin is mined with custom asic devices, not home pc’s. You can use a GPU to mine litecoin and other scrypt-based coins, but not bitcoin. Basically that article is full of shit.

  9. Bruce says:

    Roseanne’s faster way2end satanic rule seems2involve putting more women in positions of power and influence.

    Seemingly by virtue of their women-ness they r apparently less evil than men, yo.

    According to her BreakingTheSet interview.

  10. Curious says:

    How does a single number magically become infinite by simply extending the range of decimal places used to represent it? is 1.0 larger than 1? 1.00 even larger? 1.000 larger still?

    Come on, I’m not all that bright and even I can recognize that argument as being pretty obviously invalid.

  11. Trevor Morgan says:

    @yeano
    Hope you are right. I still struggle to understand bitcoin so have stuck with silver. It should come through the coming crisis.

  12. Useless Eater says:

    Well, she’s got the Satanic ritual part right. Her eyes were probably opened by Cathy O’Brien’s testimonies. She’s kind of believable, IMHO (Cathy, that is.)

  13. Curious says:

    I think Bitcoin can still be mined with GPUs and CPUs, it’s just incredibly inefficient compared to mining with ASICs. Depending on the size of the botnet at your disposal though, I’m think it might be possible that you could still mine a decent bit via other people’s CPUs.

    Another reason to root for the demise of Quark, by the way. If that thing were ever popular, this crap would be far worse, and a Quark network dominated by a few shady interests operating massive botnets would be far more insecure. But then Bitcoin mining is becoming ever more centralized and vulnerable too, so hey, whatever. I’m strictly mining memecoins now. Anyone here want some COYE?

  14. LL WTF Cool Jim says:

    Bitcoin changes nothing. Remember what I said about vaulting services etc? Here we go:
    http://www.bbc.co.uk/news/technology-25680016

    Don’t know how you think ordinary people can beat money managers at managing money when:
    a) professionals always do it better
    b) ordinary people don’t give a shit about that kind of thing

  15. Curious says:

    Ordinary people don’t need insured Bitcoin vaults, they just need to ignore the professionals who offer a paid service to do something they can easily do themselves and go read a howto on paper wallets instead.

    Like it really takes an “Oxford graduate with a PhD in physics” and some super complicated “deep cold storage techniques” to secure your Bitcoin. Ugh, you suck, BBC.

  16. Mike Hunt IIIc says:

    @LL WTF Cool Jim

    “Don’t know how you think ordinary people can beat money managers at managing money”

    Ordinary people have been beating money managers for the last several years by buying bitcoins. What professional money managers have done better than the gains of bitcoin? And bitcoin cold storage and paper wallets is not that complicated. See youtube.

  17. LL WTF Cool Jim says:

    @Curious, I think you have missed the point. Banks provide services and one of the services is safe keeping.
    If you had a lot of money, in gold say, it wouldn’t be safe to keep it at home, its not insured, it could be easily stolen.
    For someone with not a lot of bitcoins that are computer literate it looks like nothing, but if you had 10 million would you store them on a shitty old hard drive with no insurance?
    Seriously, anyone can go into a bitcoin millionaire’s house and ask them to hand them over at gunpoint. They just aren’t safe. If the neighbours knew you had 10 million in bitcoins in your living room, ultimately you are just plain fucked.

  18. LL WTF Cool Jim says:

    @Mike Hunt

    http://www.coindesk.com/goldman-sachs-director-board-bitcoin-startup-circle/

    You have as much chance beating a professional money manager as you have of beating a premiership footballer one on one.

    Or maybe you could beat a professional chess player?

    Or do surgery better than a doctor?

    Or lets see. Whatever your profession is, you think a rank amateur would beat you at it?

    Get real, Max made a load of money out of gold silver and bitcoin but he used to be a …stockbroker

  19. Curious says:

    Hmmm… So this Bitcoin bank vault is meant to conceal the amount of Bitcoin that a person possesses too? Mixing and shuffling Bitcoin around for its clients so that any forensics done on the blockchain won’t sniff them out as large holders? Interesting, but if I were Bitcoin rich I think I would opt to learn how to take those measures myself rather than trust my Bitcoin to someone else.

    For the ordinary person I think maybe it would be plenty to simply generate enough addresses offline so that he can spread his Bitcoin savings among them without having any one of them hold an amount large enough to entice a thief to actually consider going to the trouble of hunting him down and threatening his life for it. That’s not too much trouble, really. After that, he can print out ascii-armored encrypted versions of the private keys and stash them anywhere. No worry of hardware failure and no worry that anyone could steal any of his private keys, he just has to make sure that he keeps enough copies around to never lose them in anyway. That seems safer than a bank vault to me, and I’m super ordinary.

  20. LL WTF Cool Jim says:

    @Curious, its just a service, I don’t know everything they offer but they also offer insurance so in principle you *can’t* lose your wealth (of course there might be edge cases).

    Now for you maybe doing all that weird stuff with the block chains and stashing loads of paper around with bitcoin keys (10 million of them) would be easy but if I were that rich I’d just get someone else to do it. Now I’m not going to say thats not right for you but many many people have no interest in finance or computing, they just want to put their savings somewhere safe.

    I think we can agree that there will in all likelihood be many takers for this bitcoin vault service?

  21. Rioting like a chimp says:

    @ Curious

    “How does a single number magically become infinite by simply extending the range of decimal places used to represent it? is 1.0 larger than 1? 1.00 even larger? 1.000 larger still?

    Come on, I’m not all that bright and even I can recognize that argument as being pretty obviously invalid.”

    If we use Max precious number argument then 1 BTC = 1 coin. If you have 1 BTC and 1.01 BTC then you have 2 BTC’s. Please don’t think this is like say for the UK 2p is two 1p’s it isn’t. 1 is a number and 1.0000001 is another number. There is no government enforcing this, no guns, no police.

    This has been highlighted, see following links:

    http://thegongshow.tumblr.com/post/66796061348/bitcoin-cap-and-endless-divisibility

    http://www.youtube.com/watch?v=43eYMuUAayY

    With the Schiff video the guy chuckles when Schiff mentions the supposed cap (2.00mins) but the divisible chat starts at 5:00mins.

    Actually Schiff says it best; the subdivision of BTC is like dilution in a stock. Game set and match.

  22. Mike Hunt III says:

    @Rioting like a chimp. Many people still cant seem to grasp this concept. Dividing money (including bitcoin) into smaller subunits does not decrease it’s value or scarcity. If I give a $100 bill (note) to one person (group A) and distribute one hundred $1 notes to one hundred people (group B), both group A and group B have the same amount of money (purchasing power). Now, if I give a bitcoin with a value of $100 to one person (group C) and distribute one hundred 1/100ths of a bitcoin to one hundred people (group D) both group C and group D have the same amount of bitcoin/money (purchasing power). Groups A,B,C and D have the same amount of money.

  23. Curious says:

    @ Rioting like a chimp

    Okay, I think I get it. If Bitcoin is infinitely divisible, then it’s supply is infinte even within the finite range of 21 million coins. Still though, it’s limitless supply in that respect doesn’t make it the same as a limitlessly growing supply of dollars, it makes it just the opposite. The value of 1 Bitcoin doesn’t fall due to it’s infinite divisibility. If it becomes commonplace that trade involving Bitcoin is done with smaller and smaller divisions of a single Bitcoin then that can only mean that the value of a single Bitcoin is growing in worth, not lessening. I do see how Bitcoin’s ease in divisibility might represent a psychological barrier to those who come later to Bitcoin though, for sure. Paying a hundred dollars now for only a tenth of something that was trading for less than a single dollar just a few years ago is off-putting, definitely. But isn’t gold subject to the same kind of thing? How many people have the money to pick up gold by the ounce? Who wants to pay well over a hundred dollars for a tiny tenth of an ounce gold coin today? And aren’t the premiums on those smaller fractional coins generally a greater percentage of the price too? That kind of makes gold even worse for the little guy, doesn’t it?

  24. Curious says:

    @ LL WTF Cool Jim

    Did that really come across as weird? Actually, what I described was a little more involved than what most non-weird people would recommend, I think. You just spooked me with the idea that criminal types could identify people from their Bitcoin addresses and come after them.

    Anyway, yeah, it’s still a young technology and all – plenty of room left to improve on it in many ways, user friendliness definitely included. And yes, I don’t doubt people will gladly use any kind of service that promises the best and easiest security. I just hope that by the time ordinary people really begin thinking about owning Bitcoin that the option of safely holding them personally isn’t perceived as being too difficult. It’s kind of the point after all.

  25. LL WTF Cool Jim says:

    @Curious ordinary people don’t give a fuck. They just want to watch big brother get married fuck and make another generation. Basically, what Winston Smith referred to as the proles. They simply do not give a fuck. To the extent I give not a fuck I am too a prole. I bought bitcoins, I sold some. I bought quark and sold them again on the hype and also because it seemed to me no way could Bill Still get an investment idea right except by chance.

    Furthermore, no technology can determine the conduct of the person that wields it, whether its a knife or a currency or whatever.

    You see, what the gold bugs and the bitcoin enthusiasts fail to understand is a currency system is not the cause of corruption, its a symptom. The cause of corruption comes down to the fact that people are corrupt.

    Hence this talk of revolution is idle. We had a French revolution, a Russian revolution, an American revolution. Arab spring. We *are* in post revolutionary societies. And how did they come about? Generally revolutions only come about when the general populace – the proles – have no food.

    The proles you see, as long as they are fed, don’t give a fuck.

    If utopia were to exist no people would live there, its not our habitat.

  26. LL WTF Cool Jim says:

    @Curious its not so weird if you have a computer science degree or something similar but its like university degree educated stuff, people that haven’t studied past school wouldn’t know and – more importantly – wouldn’t want to know about that kind of stuff. Maybe not all, but most.

  27. Useless Eater says:

    The difference between splitting a hundred-dollar bill and one bitcoin, is that the value of the hundred dollar bill remains at roughly one hundred dollars. With Bitcoin, when the limited supply is all divided up, the value is spread amongst the remaining parts of the total supply, with 1 full bitcoin getting the share of the supply and demand advantage. In other words, if everyone gives a certain dollar value to a particular part of a bitcoin, the value of the full bitcoin is immensely greater. This may seem normal and fair, but this is just a way that those who got in early will be ripping off everyone else, just a little bit at a time. It is still dishonorable, regardless of which side of the debate you are on. A medium of exchange, if it is a fair one in a fair system of weights and measures, would never allow for such a raping of holders of the smallest amount of currency. This is what Bill Still USED to talk about when his speculative half was not seeing dollar signs. The quantity of the money supply needs to increase with the commerce of the society it is the currency for, not make a single bitcoin worth thousands of (what used to be) the same representation for an equal amount of service, product or labor. If I had a gram of gold, the reason the value of that gram goes up (or down) in a dollar value, is supposed to be what its value is against the dollar and, due to the stability of the gold production and historical intrinsic value as an industrial precious metal, the value is usually because of a dollar being devalued due to printing without taking need of the money supply into consideration. Bitcoin division only takes supply and demand of the money into consideration, deriving its value only from that. Commerce is not driving its price. As a commodity, that would be fine, but as a currency, it is a false valuation, if the currency is to be used for all transactions in the society.

  28. Rioting like a chimp says:

    @ Curious

    Value is a relative term to each individual. Currently BTC has very little value to me. There are many reasons namely it is electronic fiat funny money, not back by anything, not enforced has no intrinsic value (precious numbers is horse sh*t) however it will have some other value (to me) if (naming just a few):

    – If is get wide adoption then the value goes up.
    – If it really is truly free from central planners. BTC is the most traceable currency ever invented and the central planners are watching this.
    – If we knew the actual people / group that created BTC and their motives.

    However, any value that is not intrinsic can go to zero whether this be sentimental value, collectors value with rare historical coins, paintings by certain individuals.

    Just be careful with BTC. If I bought BTC when Max and Stacy initially brought it up then this is what I would be honestly doing right now:

    1. Sell some BTC and buy essentials that will provide me security just in case the world real turns to rat sh*t. Become self sufficient, buy a house with no mortgage. Basically assume no government of police. Ironically, I believe the greatest risk is political. Governments restrict individual freedom and take your wealth. This will become apparent in the next few years.

    2. Repay all debts.

    3. Sell enough BTC to cover my initial investment into BTC so if it turns to zero I haven’t lost anything.

    4. Sell BTC and buy real assets that are a store of wealth. These include precious metals but there are other things.

    5. Keep some BTC because this could be good.

    Most importantly, listen to all and then make your own decision on the things YOU COMPLETELY UNDERSTAND.

    I hope you find my words of some use.

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