- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: optimizing crypto-currency money supply
Posted on 4/10/13 at 10:34 pm to gizmoflak
Posted on 4/10/13 at 10:34 pm to gizmoflak
quote:No.
Are decentralized currencies inherently scams, IYO
quote:No.
Does there necessarily have to be a centralized body, be it the fedgov or otherwise, for a currency to be legit?
I answered your questions, so please answer my two questions which I asked you a few posts earlier.
0
Posted on 4/10/13 at 10:52 pm to LSURussian
quote:
What makes you think [capitalism and free markets] are not applicable to currencies?
I think they ought to be. Others with a vested interest in maintaining the status quo may disagree.
quote:
Restated, what makes you think that currencies strictly lie within the domain and control of the state?
Well, the Constitution kinda hints at it:
quote:
The Congress shall have Power . . . To coin Money, regulate the Value thereof, and of foreign Coin
Posted on 4/10/13 at 11:26 pm to gizmoflak
quote:That's not what I asked you. Besides they already are, so you get your wish.
I think they ought to be.
quote:
Well, the Constitution kinda hints at it:
There is nothing in the constutution or any statute which prohibits the use of currencies other than the US dollar within the US.
There have been private currencies in use many times in the US. There has been a private currency used in New England for a couple of decades, mainly in New Hampshire, I believe.
Don't buy the ignorant, paranoid ravings of faux anarchists who claim the government will arrest or use force against Americans just for using a currency other than the dollar. It's a lie.
The only stipulations are the currency cannot be called "dollars" (to avoid confusing people that the currency is backed by the US government) and the currency itself cannot resemble dollars which would be considered counterfeiting.
Other than that people are free to use anything they want to use as a currency, or even to use physical goods for bartering if they want to. They still must comply with tax laws for any profits they make, but that is a tax issue, not a currency issue.
So what is your point again?
Posted on 4/10/13 at 11:46 pm to LSURussian
quote:
That's not what I asked you. Besides they already are, so you get your wish.
The real test will be when there is a serious threat to the primacy of the dollar by a private currency. Fedgov will undoubtedly intervene.
quote:
There is nothing in the constutution or any statute which prohibits the use of currencies other than the US dollar within the US.
I haven't studied up on the con law issue, but I'd imagine the "regulate foreign coin" phrase provides enough ammo for fedgov to quash all comers, if so desired.
quote:
There have been private currencies in use many times in the US. There has been a private currency used in New England for a couple of decades, mainly in New Hampshire, I believe.
The only real threat to the dollar occurred during the Civil War. But the dismantling of the confederate dollar was wrapped up in other issues.
quote:
Don't buy the ignorant, paranoid ravings of faux anarchists who claim the government will arrest or use force against Americans just for using a currency other than the dollar. It's a lie.
You're right, joe-blow bitcoiner won't be arrested. But the major players will be hammered in an effort to bring down the entire system. Kinda like how they went after payment processors and online gambling sites rather than joe-blow online poker players back in April 2011
quote:
The only stipulations are the currency cannot be called "dollars" (to avoid confusing people that the currency is backed by the US government) and the currency itself cannot resemble dollars which would be considered counterfeiting.
Link?
quote:
Other than that people are free to use anything they want to use as a currency
yes, but only dollars are "legal tender"
. . . and I'm not so sure fedgov can't dismantle any other private currency whenever it wants (but I could be wrong)
quote:
or even to use physical goods for bartering if they want to.
of course
quote:
They still must comply with tax laws for any profits they make, but that is a tax issue, not a currency issue.
agreed
quote:
So what is your point again?
My point is this: What is the best way to optimize a crypto-currency money supply?
Posted on 4/10/13 at 11:48 pm to LSURussian
It just hit me. Bitcoins are nothing more than scrip. LINK
Posted on 4/11/13 at 6:46 am to gizmoflak
quote:Don't know, don't care.
My point is this: What is the best way to optimize a crypto-currency money supply?
quote:So what? Do you know what 'legal tender' means? I'm pretty sure you don't since you used it in an inapplicable sense in your reply to my comment about anyone can use any currency they wish to use in the U.S.
but only dollars are "legal tender"
As to the rest of your reply, as usual, these bitcoin threads on the Money Board turn into a purely political discussion.
I'll continue with you on the Poli Board if you wish. I refuse to contribute to polluting this board with politics.
Posted on 4/11/13 at 8:36 am to gizmoflak
it's a shame your interesting thread got hijacked by the money board's biggest troll
Posted on 4/11/13 at 9:08 am to WikiTiger
Your definition of a troll is any poster who disagrees with you and uses facts and figures to prove you wrong.
Posted on 4/11/13 at 9:31 am to LSURussian
quote:
Your definition of a troll is any poster who disagrees with you and uses facts and figures to prove you wrong.
I view you as a crusader for the good. And buyer of my steak dinner.
Posted on 4/11/13 at 9:56 am to Broke
Ruth's Chris, right?
Posted on 4/11/13 at 11:02 am to WikiTiger
quote:
it's a shame your interesting thread got hijacked by the money board's biggest troll
He's an outstanding troll. One of the best.
Page 2 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News