bit¢oin$

http://www.wired.com/business/2014/02/rise-fall-rise-patrick-byrne/

Burt Stuntin (Hurting 2)
Posted: February 10, 2014 at 4:54:19 AM

I know that comparison is dumb, but at the same time the internet isn't just like one disruptive technology, it's thousands of disruptive technologies/business models

literally infinite disruptive business models *j/o motion*

disruptive to my netflix enjoyment anyway

I mean in the actual theory behind "disruption" it's not *The Internet* that's disruptive, it's various applications of the internet to various industries.

but whatever, keep being too cool to notice shit changed

lol u cant possibly be srs

buy some bitcoins or stfu u clown

blowing yr own schumpeter

lessons in internet form hurting a guy who has read a number of articles

it wld be interesting to compile a list of all the industries the internet has actually disrupted: print advertising...

obvs there are bigger one on the horizon, retail prob being the nearest, but so far the effects of the internet
have been more access to communication and information and less disrupting big established industries

the idea that start up dudes are gonna suddenly disrupt financial services rings all the bells of hubristic technological overreach, theyre very arrogant and cant see the difference between technology and not technology

the ultimate example is bill gates thinking hes gonna throw his money around and eliminate malaria, he really thought he was just smarter than all the public health and medical people even tho he had zero domain experience, the ongoing failure of education disrupters is p lol too

so while I am personally a big believer in the long term transformative power of the internet its really easy to overstate how much its done so far and what its really good at and not good at and my skepticism of bitcoin thing has to do mostly w observing these patterns

tbf i think what bill gates is doing is super great and helpful but he def displayed some classic nerd tics along the way

the things that 'need to be disrupted' in the financial industry aren't actually the things that bitcoin is 'disrupting'. it is not hard to buy things with us dollars either irl or online. in fact it's so easy that some existing technology that makes it easier to buy things (like buying stuff using your phone) is having trouble catching on, because the marginal convenience isn't worth the trouble.

yup

mail

ya i thought of that and like is mail an industry or is the industry shipping where ups and fedex are stronger than ever and very much taking advantage of the internet and then theres the post office which is this weird government agency that really doesnt behave like a for profit company anyway and is def being replaced by email etc but did they really exist even in the first place

i mean the music industry for sure but that gets a major * cause it relied on the sort of insurgent illegality that wld never be tolerated w finance

http://www.btcreporter.com/wp-content/uploads/2013/05/bitcoin-atm.jpg

Aside from retail and print media, I don't know if it disrupted any entire capital I "Industries" but it definitely disrupted a lot of sort of sub-industries and service stuff -- e.g. there are tons of services for the legal and financial industries that no longer exist because of the internet. Probably a lot of logistics / supply-chain management-type behind-the-scenes services. Random other stuff like travel agencies, couriers, lol porn shops, video rentals, etc.

2ND SECURITY CAMERA (photographs yr dong)

backlit topper is a must

http://i1.ytimg.com/vi/AbP0qsV5S48/hqdefault.jpg

Seriously, I must be 68 years old for making that post.

no, i was thinking it too; well played

@bitcoin_txt: Please do not compare Beanie Babies to bitcoin. Bitcoin is a medium of exchange. Beanie Babies was a toy that for some reason people valued

@bitcoin_txt: Please do not compare Beanie Babies to bitcoin. Beanie Babies are a medium of exchange. Bitcoin was a toy that for some reason people valued

Ty Warner lives out here. People really valued those beanie babies!

I think my grandma paid $200 for a Princess Di beanie baby. I wonder how many bitcoin my grandma would have were she still with us today.

limited edition Princess Di Bitcoin

sm one shd make beaniecoin

We have a box of fake Beanie Babies in our basement that we brought over from China back in the late 90s

We thought they'd appreciate in value

makin beaniecoin like heinz

http://www.wired.com/business/2014/02/rise-fall-rise-patrick-byrne

“Someday, either zombies walk the Earth or something close to that,” says Byrne, the son of the man who built the GEICO insurance empire, Jack Byrne, and a protege of Warren Buffet, the most successful investor in the history of Wall Street. “Bitcoin is the solution.”

https://www.youtube.com/watch?v=QhIz2Dz_KEE

Kinda feel bad for Rich :\

This is kinda like watching Hanson come back in 2009 ;(

http://i.imgur.com/NxLpcL2.gif

“Someday, either zombies walk the Earth or something close to that,” says Byrne, the son of the man who built the GEICO insurance empire, Jack Byrne, and a protege of Warren Buffet, the most successful investor in the history of Wall Street. “Bitcoin is the solution.”
― PSY talks The Nut Job (forksclovetofu), Wednesday, February 12, 2014 9:04 AM (11 hours ago) Bookmark Flag Post Permalink

this needs to be imprinted on every bitcoin

The problem with the modern economy, Byrne says, is that it rests on the whims of our government and our big banks, that each has the power to create money that’s backed by nothing but themselves. Thanks to what’s called fractional reserve banking, a bank can take in $10 in deposits, but then loan out $100. The government can make more dollars at any time, instantly reducing the currency’s value. Eventually, he says, laying down a classic libertarian metaphor, this “magic money tree” will come crashing down.

idg how you can be smart enough to run a giant company but stupid enough to believe stuff like this

like theyre both money things

lol nm

idg how you can be smart enough to run a giant company but stupid enough to believe stuff like this

― lag∞n, Wednesday, February 12, 2014 9:10 PM Bookmark Flag Post Permalink

otm

i mean not just from a corporate background but from an insurance background which I think of as a financially sophisticated business

isnt the essence of bitcoin a bunch of people making up money out of thin air

*_*

http://i.imgur.com/icUA8Bi.png

welp silk road 2 just got hacked

http://www.deepdotweb.com/2014/02/13/silk-road-2-hacked-bitcoins-stolen-unknown-amount

Maybe not hacked after all, see update 2.

crazy how all these places keep getting "hacked"

btw if you want a reliable place to buy drugz come to my new silk road three it is reliable i am not planning on stealing your btcoins at all why would u even think that damn man that hurts my feelings

do nerds have a real tough time finding drug dealers or something, i mean it's not the hardest thing in the world to do

Maybe not hacked after all, see update 2.

lol yeah anytime something gets "hacked" in the bitcoin world it's generally code for "the admins ran off with everyone's money because there's no recourse"