So No One is Going to Talk About BitCoin Folding huh?

[TakeAStepBack]

Of course statists will bash an anarchic anything that succeeds wildly beyond expectation.

 

[Pete7469]

Of course statists will bash an anarchic anything that succeeds wildly beyond expectation.

I think it's hysterical that some statists in the occutard cults call themselves anarchists.

 

[TakeAStepBack]

Of course statists will bash an anarchic anything that succeeds wildly beyond expectation.

I think it's hysterical that some statists in the occutard cults call themselves anarchists.

You mean the not-so-thinly veiled anarcho-communism that ran rampant? Yeah, I actually had the annoying experience of listening to some of them rant here in NYC while they were defecating on private property.

 

[KevinWestern]

I don't own any bitcoin, however I think it's a neat idea. It's a currency just like our dollar that people (seem) to give some value, so if individuals want to trade it what's the problem exactly? Why knock it? That's all currency is - a store of value. There's absolutely nothing backing the dollar anymore except a government that has about $17 trillion of debt sitting on its shoulder.

Also, consider this. Bitcoin can be transferred user to user instantly (no third party), whereas you must use an institution like Chase bank to transfer a dollar to your family in India - for instance. The going rate (fee) is about 30% to transfer money internationally, so these banks skim a large chunk of change from individuals sending money back home. If bitcoin were to take off (and people in India could use it to buy food, ect) the transfer rate would be $0, and you'd be able to send the FULL amount of value you earned back home.

Again, why knock it?

My wife and I can send over $2500 to her family in the Philippines for $7.

I'd prefer to have money with real value to change hands.

I'd also prefer if we rolled back from fiat currency and had money backed by something of tangible value. Not just gold, but something real and not just electronic bytes.

I don’t think everyone gets that cheap of a fee. The average outgoing international fee is nearing on $50 (!):
Spring 2013: Comparing Bank Wire Transfer Fees

And regarding your comment about real value; bitcoin does have real value. I actually was watching a bitcoin auction not more than 3 weeks ago where a guy put 100 coins up on ebay and it sold for $44,000+! That is most definitely a sign that people actually are beginning to assign a real value to BTC. I mean, the only reason a dollar is worth anything is because people PERCEIVE it to be worth something. If people begin trusting in a bitcoin - because they know businesses accept it and they can use it to exchange for real goods - it too will become valuable.

Again, why knock it?

 

[TakeAStepBack]

The dollar has value because people are forced to use it by the State. It has no intrinsic value other than people do not want to be molested by thugs for not participating in thier progressive pyramid scheme. And absolutely no other reason than that.

 

[KevinWestern]

HAHAHA!!!

Well, maybe some "regulation" of the bitcoin industry would've prevented some of it.

But yeah, its hilarious when I see Libertarian fantasies go down in flames.

Funny how all those Libertarian idiots still live in a city in America, instead of just going to the Brazilian rainforest or Mexican badlands, where NO government would affect them at all, they'd be free to pretty much do what ever the hell they want.

Down in flames? Bitcoins (just checked) are trading at about $500+ apiece. If you got in on this early it was feasible to literally have purchased thousands of these for like $20. And like I mentioned, I saw 100 coins sell on ebay (very recently) for about $44,000 USD so (again) to dismiss this whole thing is to deny reality.

People are most definitely assigning value to bitcoin, and are actively trading them - today - for REAL tangible things (like homes, cars, headphones, drugs, etc). I myself are definitely keeping an eye on them; you'd be a fool not to.

 

[TakeAStepBack]

I bought mine at around 50 a pop. I made out like a fuckin' highway robber on it.

 

[KevinWestern]

I bought mine at around 50 a pop. I made out like a fuckin' highway robber on it.

I think a lot of folks who didn't get on board early, and now must watch from the sidelines, sort of want it (naturally) to fail because the better it does the more it means that they "lost out".

If it fails, it's "all good" for them.

It's a natural human response...

 

[TakeAStepBack]

I bought mine at around 50 a pop. I made out like a fuckin' highway robber on it.

I think a lot of folks who didn't get on board early, and now must watch from the sidelines, sort of want it (naturally) to fail because the better it does the more it means that they "lost out".

If it fails, it's "all good" for them.

It's a natural human response...

Oh, I get it. Hence the bloated statist cries of "told you so" (and I read that on fox nd liberal statist sites) how it failed and now the omnipotent government needs to get involved and **** it up.

 

[KNB]

Cannabis was legal tender in some states for over 200 years. Many of America's founders paid their taxes with hemp. Hemp is a better currency than bitcoin because people can make clothing, food, paper, plastic and building materials from industrial hemp, and safe natural medicine from the flowers of the female marijuana plants.

 

[KevinWestern]

Cannabis was legal tender in some states for over 200 years. Many of America's founders paid their taxes with hemp. Hemp is a better currency than bitcoin because people can make clothing, food, paper, plastic and building materials from industrial hemp, and safe natural medicine from the flowers of the female marijuana plants.

I think ANYTHING can be a currency if people assign value to it.

However, in today's day and age (in my view) I think a bitcoin would be a better form of currency simply because you can transact with it electronically. Cannabis is something you'd need to exchange hand-to-hand (because obviously one must assess the quality); how would you purchase a DVD off Amazon - for instance - with it?

I think a fiat currency is going to be the best way to go in this century and beyond..

 

[KNB]

Cannabis was legal tender in some states for over 200 years. Many of America's founders paid their taxes with hemp. Hemp is a better currency than bitcoin because people can make clothing, food, paper, plastic and building materials from industrial hemp, and safe natural medicine from the flowers of the female marijuana plants.

I think ANYTHING can be a currency if people assign value to it.

However, in today's day and age (in my view) I think a bitcoin would be a better form of currency simply because you can transact with it electronically. Cannabis is something you'd need to exchange hand-to-hand (because obviously one must assess the quality); how would you purchase a DVD off Amazon - for instance - with it?

I think a fiat currency is going to be the best way to go in this century and beyond..

Biodegradable DVDs can be made from the cellulose in hemp stalks, and hemp takes in CO2 from the atmosphere as its growing. People can receive a tax credit based on how much they grow, the same as our Founders. A new system of exchange can be created when Cannabis is legalized again (tell your Congress members to support HR1635) and this industry will transform the entire global market. Hemp is infinitely more valuable to this planet than bitcoin can ever hope to be.

 

[Quantum Windbag]

Seems like a libertarian dream until it all went to hell.

Every once in a while — most recently with the collapse of online exchange site Mt Gox — the world starts paying attention to Bitcoin, the hacker-project-cum-digital-currency that has garnered the love of a certain subset of people on the internet. Who are those people? According to an online poll from Simulacrum, the average user is a 32.1-year-old libertarian male. By users’ accounts, those men are mostly white.

Breaking that down, about 95 percent of Bitcoin users are men, about 61 percent say they’re not religious, and about 44 percent describe themselves as “libertarian / anarcho-capitalist.”

Now they are broke after Bitcoin folded. Does anyone have an opinion on this? Seems like they could've used some sort of protection.

You want me to talk about things that only happen inside your head? Wouldn't that require me to be a whackadoodle statist moonbat with delusions of intelligence?

I hate to burst your authoritarian delusions, but the collapse of a single bank is not the end of the world. BitCoin is till out there, still in use, and getting more popular every day.

 

[Quantum Windbag]

Seems like a libertarian dream until it all went to hell.

Every once in a while — most recently with the collapse of online exchange site Mt Gox — the world starts paying attention to Bitcoin, the hacker-project-cum-digital-currency that has garnered the love of a certain subset of people on the internet. Who are those people? According to an online poll from Simulacrum, the average user is a 32.1-year-old libertarian male. By users’ accounts, those men are mostly white.

Breaking that down, about 95 percent of Bitcoin users are men, about 61 percent say they’re not religious, and about 44 percent describe themselves as “libertarian / anarcho-capitalist.”

Now they are broke after Bitcoin folded. Does anyone have an opinion on this? Seems like they could've used some sort of protection.

One of those online poker sites still has my cash frozen and probably gone forever. Live and learn, but we rarely do.

Let me get this straight, you hate Bitcoin because the government stole your money? Isn't that like blaming Bush for Russia invadieing the Ukraine?

Never mind.

 

[Quantum Windbag]

HAHAHA!!!

Well, maybe some "regulation" of the bitcoin industry would've prevented some of it.

But yeah, its hilarious when I see Libertarian fantasies go down in flames.

Funny how all those Libertarian idiots still live in a city in America, instead of just going to the Brazilian rainforest or Mexican badlands, where NO government would affect them at all, they'd be free to pretty much do what ever the hell they want.

Just like regulation prevents bank failures, right?

 

[Quantum Windbag]

I don't own any bitcoin, however I think it's a neat idea. It's a currency just like our dollar that people (seem) to give some value, so if individuals want to trade it what's the problem exactly? Why knock it? That's all currency is - a store of value. There's absolutely nothing backing the dollar anymore except a government that has about $17 trillion of debt sitting on its shoulder.

Also, consider this. Bitcoin can be transferred user to user instantly (no third party), whereas you must use an institution like Chase bank to transfer a dollar to your family in India - for instance. The going rate (fee) is about 30% to transfer money internationally, so these banks skim a large chunk of change from individuals sending money back home. If bitcoin were to take off (and people in India could use it to buy food, ect) the transfer rate would be $0, and you'd be able to send the FULL amount of value you earned back home.

Again, why knock it?

My wife and I can send over $2500 to her family in the Philippines for $7.

I'd prefer to have money with real value to change hands.

I'd also prefer if we rolled back from fiat currency and had money backed by something of tangible value. Not just gold, but something real and not just electronic bytes.

Bitcoin does have real value, you can buy actual stuff from a brick and mortar store using it.

 

[KevinWestern]

Cannabis was legal tender in some states for over 200 years. Many of America's founders paid their taxes with hemp. Hemp is a better currency than bitcoin because people can make clothing, food, paper, plastic and building materials from industrial hemp, and safe natural medicine from the flowers of the female marijuana plants.

I think ANYTHING can be a currency if people assign value to it.

However, in today's day and age (in my view) I think a bitcoin would be a better form of currency simply because you can transact with it electronically. Cannabis is something you'd need to exchange hand-to-hand (because obviously one must assess the quality); how would you purchase a DVD off Amazon - for instance - with it?

I think a fiat currency is going to be the best way to go in this century and beyond..

Biodegradable DVDs can be made from the cellulose in hemp stalks, and hemp takes in CO2 from the atmosphere as its growing. People can receive a tax credit based on how much they grow, the same as our Founders. A new system of exchange can be created when Cannabis is legalized again (tell your Congress members to support HR1635) and this industry will transform the entire global market. Hemp is infinitely more valuable to this planet than bitcoin can ever hope to be.

I would much rather have an inorganic substance as a currency. I can store bitcoins online and not worry about them in 10 years, but with cannabis I need to make sure that my supply is fresh (to redeem the most value from it).

How am I supposed to buy something off Amazon with cannabis?

 

[mamooth]

The good thing about bitcoins: They're untraceable.

The bad thing about bitcoins: They're untraceable.

That is, if you get ripped off or hacked, you're completely SOL.

And I appreciate when people use the word "statist". It's a huge time saver, in the way it instantly lets everyone know not to take them seriously.

 

[alan1]

I don't own any bitcoin, however I think it's a neat idea. It's a currency just like our dollar that people (seem) to give some value, so if individuals want to trade it what's the problem exactly? Why knock it? That's all currency is - a store of value. There's absolutely nothing backing the dollar anymore except a government that has about $17 trillion of debt sitting on its shoulder.

Also, consider this - Bitcoin can be transferred user to user instantly w/no third party, whereas you must use an institution like Chase bank to transfer a dollar to your family in India - for example. The going rate is about 30% to transfer money internationally, so imagine the difference of someone being able to send that full $10,000 vs the shaved $7,000.

Again, it's kinda cool; why knock it?

Paypal is 3rd party, but I can send money to family via Paypal for no cost to either me or them.

 

[alan1]

I bought mine at around 50 a pop. I made out like a fuckin' highway robber on it.

You didn't make out as good as the person that sold made up currency (bitcoins) for real money. Wish I'd have thought of it.