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Started By
Message
Here's why Bitcoin is the future of money
Posted on 5/1/13 at 8:22 am
Posted on 5/1/13 at 8:22 am
quote:
It's easy to dismiss Bitcoin or crypto-currencies as the flailings of a disaffected, semi-anarchist hacker community trying to undermine the system. But you know what? Hackers created the Internet, and the decidedly anti-establishment Steve Jobs gave us the modern technology era we know and love today. A lot of good ideas started out as techie experimentation.
Plus, and more saliently, I have it on good authority that the U.S. government and others are very, very interested in Bitcoin -- so much so that there are nascent attempts to regulate it and federal authorities and lawmakers have been warning about its nefarious nature for a couple of years now.
quote:
Bitcoin may not last, but crypto-currency is here to stay -- it's only a matter of time before a government replaces paper with more traceable, secure digital money.
LINK
This post was edited on 5/1/13 at 8:23 am
8
Posted on 5/1/13 at 8:27 am to gizmoflak
please do tell how it will be the future of money when
1.probably 50% of our society isn't even technologically capable of checking email much less bitcoin mining and transfers
2.the average african american woman has a $5 net worth...how will they afford whole bitcoins
3.how the hell are you gonna ever process a digital transaction of a candy bar with .0234 bitcoins in a timely manner
bitcoins are a ponzi scheme that i wish i got in on last november and cashed out/close thread
1.probably 50% of our society isn't even technologically capable of checking email much less bitcoin mining and transfers
2.the average african american woman has a $5 net worth...how will they afford whole bitcoins
3.how the hell are you gonna ever process a digital transaction of a candy bar with .0234 bitcoins in a timely manner
bitcoins are a ponzi scheme that i wish i got in on last november and cashed out/close thread
This post was edited on 5/1/13 at 8:27 am
Posted on 5/1/13 at 8:34 am to ThaBigFella
quote:
1.probably 50% of our society isn't even technologically capable of checking email
oh come on! do you live in the Congo?
quote:
2.the average african american woman has a $5 net worth...how will they afford whole bitcoins
who said they had to?
quote:
3.how the hell are you gonna ever process a digital transaction of a candy bar with .0234 bitcoins in a timely manner
see the Bitcoin is Germans thread
quote:
bitcoins are a ponzi scheme that i wish i got in on last november and cashed out/close thread
Russian alter?
Posted on 5/1/13 at 8:37 am to gizmoflak
I doubt Bitcoins are the future of money. More likely is a digital currency issued by a consortium of nations with many of the features of Bitcoins. The governments of the participating nations will regulate the validation processes and provide the enforcement mechanisms to provide the general users with a greater degree of confidence about the stability of the system.
Posted on 5/1/13 at 8:39 am to gizmoflak
Posted on 5/1/13 at 8:42 am to Poodlebrain
quote:
More likely is a digital currency issued by a consortium of nations with many of the features of Bitcoins. The governments of the participating nations will regulate the validation processes and provide the enforcement mechanisms to provide the general users with a greater degree of confidence about the stability of the system.
Have you seen the abyssal failure that is Canada's MintChip digital currency so far? That's a highly functioning western government and they can't even get their shite together enough to produce a secure system that people want to use. Yet, the free market has produced a system that has run reliably for almost 5 years now, is secure, and gives people what they want.
So yea, I won't be holding my breath for governments to begin offering something of benefit.
Posted on 5/1/13 at 8:50 am to WikiTiger
ok well you bitcoins believers enjoy your currency that inflates and deflates up to 50% on certain days while I enjoy my pathetic fiat currency that loses its value at a steady pace.
I don't know whats a worse long term investment gold or bitcoins.
Gold gained 70% over 33 years, bitcoins can do that in a week but they can also fall to nothing while gold will still be "an inflation hedge"......I bet 1980 gold buyers wouldnt agree with that statement, but the commercials on tv and media keep reassuring us that it is a great buy
I know a bitcoin system will end robberies thats for sure, "its a stick up, digital transfer me yo bitcoins before i shootchu"
I don't know whats a worse long term investment gold or bitcoins.
Gold gained 70% over 33 years, bitcoins can do that in a week but they can also fall to nothing while gold will still be "an inflation hedge"......I bet 1980 gold buyers wouldnt agree with that statement, but the commercials on tv and media keep reassuring us that it is a great buy
I know a bitcoin system will end robberies thats for sure, "its a stick up, digital transfer me yo bitcoins before i shootchu"
This post was edited on 5/1/13 at 8:54 am
Posted on 5/1/13 at 8:53 am to LSURussian
Posted on 5/1/13 at 8:54 am to ThaBigFella
quote:
Gold gained 70% over 33 years
:coco2:
Posted on 5/1/13 at 8:54 am to gizmoflak
quote:
Hackers created the Internet
Right, them or the US Defense Department, that noted bastion of anarchy.
quote:
decidedly anti-establishment Steve Jobs
someone has bought into Apple's marketing hype. Interesting how in the last couple weeks the discussion has gone from "Bitcoin is the wave of the future" to "some crypto-currency will be the wave of the future, eventually." Those are very different claims.
Posted on 5/1/13 at 8:59 am to Cold Cous Cous
don't ruin this thread with your worthless facts. It's so much cooler to think that hackerz invented the interwebs
and Steve was decidedly anti-establishment. Did you see how he dressed?
and Steve was decidedly anti-establishment. Did you see how he dressed?
Posted on 5/1/13 at 9:03 am to Cold Cous Cous
quote:
Interesting how in the last couple weeks the discussion has gone from "Bitcoin is the wave of the future" to "some crypto-currency will be the wave of the future, eventually." Those are very different claims.
Uh no. All that means is that you haven't been paying attention the whole time.
In my second bitcoin thread on the poli board on October 11, 2012, I said, "I've been discussing Bitcoin a lot lately because I think it (or something like it) is going to revolutionize the world." And I've been making similar statements ever since then as well in almost every bitcoin thread.
This post was edited on 5/1/13 at 9:04 am
Posted on 5/1/13 at 9:03 am to gizmoflak
worthless facts? Was gold not $800 in 1980 and was it not $1350 a week ago? To me thats not a worthless fact, thats a $550 real gain over 33 years with no dividends paid and a horrible real return......they never mention that on "buy gold" commercials
Posted on 5/1/13 at 9:05 am to WikiTiger
quote:
Yet, the free market has produced a system that has run reliably for almost 5 years now, is secure, and gives people what they want.
Everything except a highly functioning exchange and stable prices.
Posted on 5/1/13 at 9:05 am to Broke
quote:
Everything except a highly functioning exchange and stable prices.
Yet.
Posted on 5/1/13 at 9:07 am to WikiTiger
quote:
they can't even get their shite together enough to produce a secure system that people want to use.
Yet.
Posted on 5/1/13 at 9:07 am to Broke
quote:
Everything except a highly functioning exchange and stable prices.
BTC prices have been boring lately. No movement. I'm starting to lose interest.
Posted on 5/1/13 at 9:09 am to gizmoflak
quote:Yeah, it only dropped $15/btc overnight....
BTC prices have been boring lately. No movement.
Posted on 5/1/13 at 9:13 am to gizmoflak
quote:
BTC prices have been boring lately. No movement. I'm starting to lose interest.
yea, it's been relatively stable since the crash
Posted on 5/1/13 at 9:14 am to LSURussian
quote:
Yeah, it only dropped $15/btc overnight
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