Interesting new money

[poopgiggle]

Also if bitcoin starts to get pushed mainstream as part of the one world plan, it will be pushed under the guise of being safe and secure, just like credit cards, paypal, and the eventual mark of the beast.

I had this whole long post written up about how the value of any medium of exchange (even gold) is dependent on how much useful stuff it can buy, so any currency is shaky by definition. Then I realized you probably aren't joking about the "one world plan" and that all my smarty-smart economic talk will bounce off your tinfoil hat.

 

[kennedy]

The ones who are intelligent enough to come up with this concept and algorithm are equally matched by others who are intelligent enough to undo it and make it useless to the masses. Otherwise, we would have no need for any computer based security or anti-virus'. The only thing that ensures the value of any currency is the amount of work someone is willing to do to earn it, except here in the U.S. we just give it away if you choose not to work(because of the children[sarcasm]).

 

[poopgiggle]

The ones who are intelligent enough to come up with this concept and algorithm are equally matched by others who are intelligent enough to undo it and make it useless to the masses.

That's not how cryptography works.

The only thing that ensures the value of any currency is the amount of work someone is willing to do to earn it,

Based on some of the camwhores who are working for bitcoin, I'd say that by that definition it's worth a lot.

Also, I thought only communists subscribed to the labor theory of value. You're not a communist, are you?

 

[Hobbes]

I read that some Cypriot citizens are withdrawing their 300 euros a day and converting it to bitcoin where it can't be touched by the long arm of the government or the EU or the IMF.

 

[kennedy]

Also, I thought only communists subscribed to the labor theory of value. You're not a communist, are you?

No, but don't try and tell me when you go to buy something you don't place the value of it by how hard you worked to earn that money. How many times have you heard on this forum alone someone saying "I've worked to hard to pay for that just give it away at that price"

 

[LightningCrash]

No, but don't try and tell me when you go to buy something you don't place the value of it by how hard you worked to earn that money. How many times have you heard on this forum alone someone saying "I've worked to hard to pay for that just give it away at that price"

How many times have you heard someone on this forum say "I worked too hard for that money for the Fed to monetize the debt."

 

[Hobbes]

Real Time BitCoin monitor that shows global bitcoin transactions and trades from other currencies into and out of bitcoin.

http://www.bitcoinmonitor.com/

Hover your mouse cursor over each bubble for more detailed information.
It looks like a lot of trades out of the euro into BC and surprisingly a large number of trades involving Canadian dollars.


BTW, if anyone wants to donate some money, anonymously, to my ammo replenishment fund send BC to:
19pefFGCXaqyZkRAvkDyXDnqjjgR1MdzQt

 

[OKC03Cobra]

Confessions Of a BitCoin Scammer

http://www.youtube.com/watch?v=7fvSYT7vhQY

 

[Hobbes]

Confessions Of a BitCoin Scammer

http://www.youtube.com/watch?v=7fvSYT7vhQY

That's not a bitcoin scam; it's an exchange scam.
It's similar to what goldline does everyday when they sell gold.

My advice to you would be to reject bitcoin digital currency and place all your faith and trust in the federal reserve.
They have never undermined currency before.
At least not on purpose, so they say, as far as we can prove.

 

[OKC03Cobra]

Unfortunately, there's a bit more to Bitcoin than no government control.

(1) There are no real assets behind the currency, just like Federal Reserve notes.
http://globalguerrillas.typepad.com/...sic-value.html

"Bitcoins have properties resulting from the system's design that allows them to be subjectively valued by individuals."
https://en.bitcoin.it/wiki/Myths

(2) Bitcoins can be stolen from a digital account. There is no insurance I'm aware of for losses.
https://bitcointalk.org/?topic=3977.0
https://bitcointalk.org/index.php?topic=16457.0

(3) Bitcoin service exchanges have been hacked, resulting in losses.
http://www.nbcnews.com/technology/te...t-heist-980871
http://rt.com/usa/internet-stolen-bitcoin-currency-226/

Bitcoin does have value as a medium for digital transactions. But, if the internet is down, so is Bitcoin. The digital units' safekeeping and storage is left up to the individual. And, if the electronic storage medium (hard drive, USB thumb drive, etc.) is broken, the digital units stored there are lost, unless there is a backup