wsxcde

35 ms·

271.
by wsxcde 13y ago
I'm sorry, I don't follow. I don't keep my savings in cash, but I can withdraw as much cash as I could reasonably want at zero cost from my bank. How can I do this (i.e., USD->spending money conversion for free) with Bitco
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by wsxcde 13y ago
I see random people confidently asserting that btc isn't illegal in India. Don't listen to them. Talk to a tax lawyer. If you're in India, the sensible thing to do is to stay away from bitcoin. This is based on my conversatio
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by wsxcde 13y ago
I think you're mistaken. Tax evasion is rampant because enforcement is hard. Salaried people are taxed at source, so there isn't too much evasion there. Similarly your big retail chains don't evade VAT because they're ea
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Reserve Bank of India Cautions Users of Virtual Currencies Against Risks [pdf](rbidocs.rbi.org.in)
61 points by wsxcde 13y ago|29 comments
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by wsxcde 13y ago
It is inefficient 'cause it is corrupt Corruption contributes, but you're utterly clueless if you think all inefficiency will go away with corruption. For starters transportation infrastructure is poor, fuel is much too costly,
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by wsxcde 13y ago
> India's "dysfunctional governmental bureaucracy and law and order system... failed miserably" because it was cloned from the west A lot of governmental bureaucracy and the mechanisms for implementing law and order was
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by wsxcde 13y ago
Not really. India's problems are almost entirely due to colonialism. At independence, life expectancy was 30 years, literacy rate was 15% and the population was about 300 million and IIRC the avg per capita GDP was approx $300 in today
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by wsxcde 13y ago
Actually that is a perfectly good argument except the people who make it are always being dishonest. When Apple, Facebook, Google, Microsoft or the NSA say "why do you want privacy?", they specifically mean us and not them. It&#x2
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by wsxcde 13y ago
It's about 5 business days for coinbase to enable your account, not to mention the risk of giving a vendor access to your bank out. And I think each buy/sell transaction also takes a few days to apply? > transactions are nearly
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by wsxcde 13y ago
> Just a few days ago my debit card was blocked If this is all there is to it, I'm not sure I see the utility. I travel internationally somewhat often, not only has my credit card never been blocked, I also usually carry some amou
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by wsxcde 13y ago
Here's something I've never seen addressed by bitcoin apologists. Tell me why I should "adopt" BTC if I'm not: (a) speculating (b) interesting in buying drugs or circumventing regulations around international money
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Bitcoin is a Market for Lemons(onelessbug.tumblr.com)
13 points by wsxcde 13y ago|12 comments
283.
by wsxcde 13y ago
A few things: 1. The universities do have a legitimate right to the work of grad students. They provide the facilities and the environment for this work to happen. And this is not just paying the electric bills and some of the stipends. It
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by wsxcde 13y ago
Deanonymization that works well relies on: (i) correlating social graphs (ii) correlating likes/dislikes/reviews etc. across different networks. (iii) Lots of data to do (i) and (ii) And it's still difficult to do for random
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by wsxcde 13y ago
I haven't done exactly this but I have "cold" contacted people who I had some sort of connection with - same college, common friends, etc. I usually mention this in my e-mail saying something like "I'm contacting yo
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by wsxcde 13y ago
> You can find e.g. that adopted children's income as adults is closely related to their biological parents' adult income, but unrelated to their adoptive parents' adult income. I tried looking for a bit but couldn'
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by wsxcde 13y ago
Maybe I didn't make it very clear but I was responding to daniel-cussen's sarcastic comments about "the progressive agenda". The pro-nature side would simply contend that wealth correlates with more advantageous genetic
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by wsxcde 13y ago
There's no dearth of evidence showing that, for instance, parental wealth correlates with educational success of children. And then there's a loads of evidence showing that educational outcomes correlate with lifetime earnings. Ha
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by wsxcde 13y ago
> But my hunch is that This is not a hunch right? There's so much evidence supporting this. Off the cuff, I can recall the following the studies. In the US, SAT scores correlate with parental wealth; in India, IIT JEE qualificatio
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by wsxcde 13y ago
It's something I was just thinking about as I was writing the comment but I didn't like the idea too much. The course now only has time for two serious projects: one is a game and another is a a little CPU. I think they're t
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by wsxcde 13y ago
Isn't it just a hardware implementation of SHA256? Shouldn't it be very straightforward? I fully expect that the undergrads in the logic design class I'm TA'ing will be able to do it. It's really not very much harde
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by wsxcde 13y ago
> As far as I can tell it also helps avoid bank runs. Sounds plausible but it puts the exchanges in a major position of power in the bitcoin economy. If they're actively managing liquidity of the BTC economy in this manner I have
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by wsxcde 13y ago
What's the purpose of separating the 'float' and the 'cold storage'? Is it to increase security by limiting the amount of BTC exposed to an attacker who breaks in Mt. Gox?
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by wsxcde 13y ago
This part is interesting. > I attempted to withdraw the bitcoin balance into my own wallet, and hit the limit that Mt Gox has, preventing you from withdrawing more than $1000 USD worth of bitcoins (at the current market value) in a day.
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by wsxcde 13y ago
A lot of people recommend C because it presents an abstraction very close to the hardware. This is useful but in today's world, it isn't really a substitute for actually learning how hardware works. On modern machines, C doesn&#x2
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by wsxcde 13y ago
Well then maybe you should point that out in your initial comment. I'm just referring to the idea of deflation in general and the fear mongering that happens around it. You'll have to do a little better to support your claim tha
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by wsxcde 13y ago
You're missing the point. We all have to buy food today, but we have a choice on whether we use bitcoins or dollars to pay for it. If you believe that bitcoin will get more valuable with time, due to Bitcoin's deflationary desig
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by wsxcde 13y ago
> There are bosses that will genuinely go out of their way to help you through a family crisis. There are co-workers and organizations that feel like family. Sure, I know such people. The difference that these people won't write a
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by wsxcde 13y ago
Virgin Mobile sucks. I've been on their network for about 2.5 years now. Coverage is poor and data speed is terrible. The only good thing is that it's cheap but it seems like T-Mobile is cheaper and better. Also, one other thing -