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(IT World)   Apparently, Linus Torvalds can afford to just walk away from $136   (itworld.com) divider line 43
    More: Interesting, Linus Torvalds, bitcoins, Bitcoins on the table, Arsen Gasparyan  
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5857 clicks; posted to Geek » on 28 Jan 2014 at 9:40 AM (11 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



43 Comments   (+0 »)
   
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2014-01-28 09:57:30 AM
No one sane wants your libertarian Buttcoins. Go away.
 
2014-01-28 09:58:58 AM
Considering his net worth is $150 million dollars, yeah, he can afford it.

http://www.celebritynetworth.com/richest-businessmen/linus-torvalds- ne t-worth/
 
2014-01-28 10:13:41 AM

FTFA: "...Linus Torvalds, who has earned tips for his commits to (what else?) the..."



What's the name of that stupid content tracker? The one that's in the farking name of the website mentioned in TFA?
 
2014-01-28 10:14:27 AM
Take $136 and risk an investigation that at least some of that has tagged on an illegal transaction.  The only way I would take that is if I was starving.
 
2014-01-28 10:23:25 AM
What's that, like, his subscription costs for him and his alt here on Fark? Pffft... dude's super-loaded. DMML...
 
2014-01-28 10:30:04 AM

Sneakernets: No one sane wants your libertarian Buttcoins. Go away.


I'll accept any donated bitcoins anyone wants to give me. I'll exchange them for actual currency.
 
2014-01-28 10:33:15 AM
The very first time I even HEARD of bitcoins was about five years ago, or something. Some ad on Craigslist for a one-off programming gig offered to pay in bitcoins. I was like "what the fark are bitcoins?"

At the time I thought it was a scam and so did many other people. We left messages accosting the guy for his form of payment. I think mine said something along the lines of "bitcoins are fine and all, but the landlord wants cash money". Bitcoins were fairly new back then and weren't really redeemable for anything.

I still don't collect bitcoins. I don't see the point. But it is an interesting experiment in economics and currecny.
 
2014-01-28 10:38:35 AM
FTA: Why are people not claiming their tips? Gasparyan offered a number of possible answers, such as maybe they don't have a Bitcoin address. Or maybe they didn't even know about these tips, even though Tip4Commit sends emails to users when they've earned tips...  tips that remain unclaimed for 30 days back to the project. So far, according to Gasparyan, about 20% of the value of all tips have reverted back to their projects.

So their business model is:
1) Get people to tip developers of open source project
2) Email said developers, which I assume say something along the line of "You have REAL ca$h waiting for you, CLICK HERE to claim your internet monies!!!11!!"
3) Profit on unclaimed tips.

/BRILLIANT!
 
2014-01-28 10:55:57 AM
I got no time for jibber-jabber!  I wanna be Torvald, sucker!

/too obscure?
//Doubt it
///Drink your school, stay in drugs, and don't do milk
 
2014-01-28 11:08:52 AM

EngineerAU: Sneakernets: No one sane wants your libertarian Buttcoins. Go away.

I'll accept any donated bitcoins anyone wants to give me. I'll exchange them for actual currency.


I would obviously do this too, and I accept the argument.

But to nitpick an insane amount (or maybe not) -- isn't our "paper money" and "figures on a screen at a bank" equally suspect? I mean, really, it's just a piece of paper with a number on it. We all have to believe (or at least, a majority of us) that that bank note means anything at all in terms of value.
 
2014-01-28 11:14:09 AM

RockofAges: EngineerAU: Sneakernets: No one sane wants your libertarian Buttcoins. Go away.

I'll accept any donated bitcoins anyone wants to give me. I'll exchange them for actual currency.

I would obviously do this too, and I accept the argument.

But to nitpick an insane amount (or maybe not) -- isn't our "paper money" and "figures on a screen at a bank" equally suspect? I mean, really, it's just a piece of paper with a number on it. We all have to believe (or at least, a majority of us) that that bank note means anything at all in terms of value.


well, since the value of that paper currency is tied to the GDP of the issuing country, and is insured by that country and its central bank(in our case), it's worth more than the arbitrary value of a traded item with no truly legitimate way to liquidate the value of that item(sure there are ways but none are backed by any of the big banks or governments, or the commodities exchanges.

i'll take the paper money.
 
2014-01-28 11:14:49 AM
Bitconin is useful for exactly two types of people

1.People who want to make black market transactions and not get caught

2. People who want to get in on the pyramid one step above the next sucker.

Actually, most bitcoin is bought by the second type of people a whole lot more than the first...so when it comes out that the U.S. is prosecuting type 2 people as if they were type 1 folks, all the potential investors will shiat their pants and bail.
 
2014-01-28 11:18:41 AM

uttertosh: What's that, like, his subscription costs for him and his alt here on Fark? Pffft... dude's super-loaded. DMML...


I thought Linux_Yes was Richard Stallman, huh, you learn something new every day.
 
2014-01-28 11:42:36 AM

DON.MAC: Take $136 and risk an investigation that at least some of that has tagged on an illegal transaction.  The only way I would take that is if I was starving.


Wow ... in a thread full of ignorance you were able to set a new bar. That's some mighty fine stupid you have there.

/do you also refuse paper money because its history of being used in drug deals and other crime?
 
2014-01-28 11:56:10 AM
I remember an interview from Bill Gates in the late 90's where he was explaining a revelation he had one day where he realized that if he dropped a $50 bill on the ground while walking from one meeting to another that his time was so valuable that if he were to stop and spend 3 seconds to pick it up he would actually be losing money.  Now thats a farking wake up call.
 
2014-01-28 12:01:10 PM

Ishkur: At the time I thought it was a scam and so did many other people. We left messages accosting the guy for his form of payment. I think mine said something along the lines of "bitcoins are fine and all, but the landlord wants cash money". Bitcoins were fairly new back then and weren't really redeemable for anything.


If you had taken the bitcoins back then, you would probably be retired today.
 
2014-01-28 12:07:33 PM

Ivo Shandor: If you had taken the bitcoins back then, you would probably be retired today.


It was only, like, 50 bitcoins or some such. Small shiat coding gig, maybe a couple hours work. No one even bothered to ask the guy why he wanted to pay in bitcoins. While the returns are magnificent, that's not enough to retire on.
 
2014-01-28 12:53:07 PM

Ishkur: Ivo Shandor: If you had taken the bitcoins back then, you would probably be retired today.

It was only, like, 50 bitcoins or some such. Small shiat coding gig, maybe a couple hours work. No one even bothered to ask the guy why he wanted to pay in bitcoins. While the returns are magnificent, that's not enough to retire on.


assuming you didn't get robbed trying to launder liquidate them.
 
2014-01-28 01:07:04 PM
When did we get an actual Bitcoin character?

Ƀ

When I first looked at it I thought I had something on my monitor.
 
2014-01-28 01:15:08 PM

orclover: I remember an interview from Bill Gates in the late 90's where he was explaining a revelation he had one day where he realized that if he dropped a $50 bill on the ground while walking from one meeting to another that his time was so valuable that if he were to stop and spend 3 seconds to pick it up he would actually be losing money.  Now thats a farking wake up call.


Cool unrelated and incorrect story, bro.
 
2014-01-28 01:29:02 PM

BumpInTheNight: uttertosh: What's that, like, his subscription costs for him and his alt here on Fark? Pffft... dude's super-loaded. DMML...

I thought Linux_Yes was Richard Stallman, huh, you learn something new every day.


I haven't learned a thing, Marge.
 
2014-01-28 03:31:41 PM

Ishkur: Ivo Shandor: If you had taken the bitcoins back then, you would probably be retired today.

It was only, like, 50 bitcoins or some such. Small shiat coding gig, maybe a couple hours work. No one even bothered to ask the guy why he wanted to pay in bitcoins. While the returns are magnificent, that's not enough to retire on.


Still, most people could use what, $45k for a small coding gig...
 
2014-01-28 04:30:32 PM

Somaticasual: Still, most people could use what, $45k for a small coding gig...


And most people would be happy to earn $171 million for their work.  Doesn't mean they should accept a Powerball ticket as payment.
 
2014-01-28 04:45:17 PM

Somaticasual: Still, most people could use what, $45k for a small coding gig...


Where do you get that figure from? First of all, Bitcoins have never been valued more than $2 US for most of their existence. There have been a couple bubbles where they've been worth much more, they usually hover around $30 or so and they once had a peak of $265, so if I did a small programming gig back in 2009 for 50 bitcoins which at the time were worth less than a penny and were not redeemable for anything (it took two years just to get on par with the US dollar) and then waited four years for them to mature and cashed out when they peaked, I would clear $8,000.

Four years to cash out $8,000. So it's like I worked for this guy doing nothing for $2,000 a year or about $67/month which is like getting free cable for four years but not really because I don't see any of that money until it matures AND ONLY if I have perfect predictive knowledge of the bitcoin market and I'm savvy enough to know when it peaks so I can cash my bitcoins for maximum return and if I am that farking good playing an uncertain and volatile pseudo-penny stock like bitcoin, what they fark am I doing being a programmer? I oughta be in Vegas with that kind of clairvoyance.

Yes, it's a fun speculation to make with the benefit of hindsight, but at the time it didn't seem all that enterprising. I had never even heard of them before. A lot of investors passed on MS and Apple in the mid 70s too. You just can't tell with something that sketchy. And it's still sketchy, it's just that more people know of it now.

I mean, it's not like I keep myself awake at night going "drat! I should've bought in early!"
 
2014-01-28 05:18:32 PM

Farking Canuck: DON.MAC: Take $136 and risk an investigation that at least some of that has tagged on an illegal transaction.  The only way I would take that is if I was starving.

Wow ... in a thread full of ignorance you were able to set a new bar. That's some mighty fine stupid you have there.

/do you also refuse paper money because its history of being used in drug deals and other crime?


Morons pretending to be smart to call smart people morons.

How avant garde...
 
2014-01-28 06:03:30 PM
Linus isn't so much as walking away from it as he's trying to figure out how to belittle a BitCoin. Somehow he's sure that BitCoins have farked up the latest kernel contributions and should be told so.
 
2014-01-28 06:19:54 PM

suburbanguy: Morons pretending to be smart to call smart people morons.

How avant garde...


That's deep.

So you agree with him that you should be terrified of any currency that may have been used for criminal activity in the past? Like all paper currencies?
 
2014-01-28 06:20:45 PM

logieal: When did we get an actual Bitcoin character?

Ƀ

When I first looked at it I thought I had something on my monitor.


Yeah, if I was a Jarai or Katu from Vietnam, I'd be pissed about one of my alphabet letters being turned into someone's trademark.  (The Old Saxons and Proto-Germans have been dead so long, they are past caring)

/kind of similar to my feelings about Apple's use of the letter 'i'.
 
2014-01-28 06:36:30 PM

BumpInTheNight: uttertosh: What's that, like, his subscription costs for him and his alt here on Fark? Pffft... dude's super-loaded. DMML...

I thought Linux_Yes was Richard Stallman, huh, you learn something new every day.


Linux_Yes doesn't swear eloquently enough to be Linus.
 
2014-01-28 08:17:52 PM

Farking Canuck: suburbanguy: Morons pretending to be smart to call smart people morons.

How avant garde...

That's deep.

So you agree with him that you should be terrified of any currency that may have been used for criminal activity in the past? Like all paper currencies?


I'll explain, and I'll try to use small words...

Paper currency can be used for illicit activities, but the bulk of paper currency is for legitimate reasons. Bitcoin has a MUCH higher percentage of illicit activity. Why would I buy an avocado with an untraceable non-fiat currency when I have $2 in my pocket. Buying cocaine, on the other hand, makes that Bitcoin useful.

Another example:
An soda bottle can be used as a silencer, but the bulk of them are just used for soda. (This is your paper currency in the analogy.) Bitcoin, on the other hand, (aside from speculative investment) is used PRIMARILY when you don't want to know the source of the money. Would I pay for a Big Mac with Bitcoin? No. No need to. Would I pay my mortgage wih Bitcoin? No. I can't.

If your seriously comparing Bitcoin to cash after this, don't bother responding. You're just a troll.
 
2014-01-28 08:23:32 PM
I prefer dollars and in the form of a pay raise and maybe a few extra PTO days for my hard work.  At the very least buy me lunch or chocolate chip cookies.  None of that speculative crap.
 
2014-01-28 08:44:58 PM

suburbanguy: If your seriously comparing Bitcoin to cash after this, don't bother responding. You're just a troll.


Nice ... include a disclaimer to allow you to announce victory in a discussion. You're really good at this!!!

The fact that all you can focus on is the anonymity of the payment method (truly ironic as cash has a similar anonymity) is interesting. Your efficient use of the CAPS LOCK when announcing that this is the "PRIMARY" reason for it's use means it must be true. I'm convinced!!

But for those not completely convinced by your cunning use of CAPS, here are some other uses:
- direct money transfers between two parties without any banks taking a cut
- a world currency - no exchange fees
- relatively fast - future variations will be faster
- blends well into the current trend of digital payment systems (NFC, etc.)

Nobody is suggesting that it is ready for prime-time yet. I know there are a lot of people out there that wet their panties whenever something new comes along so they take to the internet to project their fears by spewing a lot of mis-information. Like most new things, nobody is going to force you to use it ... you can calm down.

At this point it is effectively an interesting prototype. Kinda like a project in beta stage ... it is functional but you don't want to go into full production yet.

I personally doubt that BitCoins will be the long term player ... it has too many shortcomings. But it is paving the way and its successors may make it mainstream. Who knows?

Long story short - if you don't understand crypto-currencies don't use them.
 
2014-01-28 09:29:53 PM

Farking Canuck: suburbanguy: If your seriously comparing Bitcoin to cash after this, don't bother responding. You're just a troll.

Nice ... include a disclaimer to allow you to announce victory in a discussion. You're really good at this!!!

The fact that all you can focus on is the anonymity of the payment method (truly ironic as cash has a similar anonymity) is interesting. Your efficient use of the CAPS LOCK when announcing that this is the "PRIMARY" reason for it's use means it must be true. I'm convinced!!

But for those not completely convinced by your cunning use of CAPS, here are some other uses:
- direct money transfers between two parties without any banks taking a cut
- a world currency - no exchange fees
- relatively fast - future variations will be faster
- blends well into the current trend of digital payment systems (NFC, etc.)

Nobody is suggesting that it is ready for prime-time yet. I know there are a lot of people out there that wet their panties whenever something new comes along so they take to the internet to project their fears by spewing a lot of mis-information. Like most new things, nobody is going to force you to use it ... you can calm down.

At this point it is effectively an interesting prototype. Kinda like a project in beta stage ... it is functional but you don't want to go into full production yet.

I personally doubt that BitCoins will be the long term player ... it has too many shortcomings. But it is paving the way and its successors may make it mainstream. Who knows?

Long story short - if you don't understand crypto-currencies don't use them.


You're retarded.
 
2014-01-28 09:35:29 PM

suburbanguy: You're retarded.


Another witty retort.

It is truly impressive the way you cut to the meat of an argument. Systematically tearing it down point by point.

Well done sir.
 
2014-01-28 09:38:06 PM

Farking Canuck: suburbanguy: You're retarded.

Another witty retort.

It is truly impressive the way you cut to the meat of an argument. Systematically tearing it down point by point.

Well done sir.


You can't fight stupid. I know when not to waste my time.
 
2014-01-28 09:56:52 PM

suburbanguy: You can't fight stupid. I know when not to waste my time.


You can't when your only weapon is ignorance.
 
2014-01-28 10:01:53 PM

Farking Canuck: suburbanguy: You can't fight stupid. I know when not to waste my time.

You can't when your only weapon is ignorance.


I'll tell you what: You invest all your money in Bitcoin. I'll keep all mine in dollars. Give me a call in 5, 10, or 20 years. Tell me how your Bitcoin's doing.
 
2014-01-28 10:32:27 PM

suburbanguy: I'll tell you what: You invest all your money in Bitcoin. I'll keep all mine in dollars. Give me a call in 5, 10, or 20 years. Tell me how your Bitcoin's doing.


Why would I do that? I already said "Nobody is suggesting that it is ready for prime-time yet." and "I personally doubt that BitCoins will be the long term player".

But you didn't actually read my posts, did you? It would explain your ongoing ignorance.
 
2014-01-28 11:56:37 PM

suburbanguy: Farking Canuck: suburbanguy: You can't fight stupid. I know when not to waste my time.

You can't when your only weapon is ignorance.

I'll tell you what: You invest all your money in Bitcoin. I'll keep all mine in something other thandollars. Give me a call in 5, 10, or 20 years. Tell me how your Bitcoin's doing.


FTFY - Dude, the Dollar, a long term player? C'mon.
 
hej
2014-01-29 12:35:53 AM

orclover: I remember an interview from Bill Gates in the late 90's where he was explaining a revelation he had one day where he realized that if he dropped a $50 bill on the ground while walking from one meeting to another that his time was so valuable that if he were to stop and spend 3 seconds to pick it up he would actually be losing money.  Now thats a farking wake up call.


This assumes somebody would stop paying him his salary for those 3 seconds.
 
2014-01-29 10:49:20 AM
The worth of the bitcoins isn't the point, working for whatever peanuts someone may or may not throw you (tips) is demeaning. Collecting these tips would be like scrabbling for change that someone chucked near you.
 
2014-01-29 09:45:42 PM

Ishkur: Where do you get that figure from? First of all, Bitcoins have never been valued more than $2 US for most of their existence. There have been a couple bubbles where they've been worth much more, they usually hover around $30 or so and they once had a peak of $265, so if I did a small programming gig back in 2009 for 50 bitcoins which at the time were worth less than a penny and were not redeemable for anything (it took two years just to get on par with the US dollar) and then waited four years for them to mature and cashed out when they peaked, I would clear $8,000.


You may want to check the price indexes. Current arbitrary valuation: $846.
http://www.coindesk.com/price/

That being said, it is like getting paid in stock alone.
 
2014-01-29 10:03:03 PM

Somaticasual: You may want to check the price indexes. Current arbitrary valuation: $846.


Wow, there are a lot of morons with disposable cash in the market these days.

Somaticasual: That being said, it is like getting paid in stock alone.


No, its like getting paid in lottery tickets. It really is. And it's not something I was interested in taking up at the time.
 
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