Skip to comments.How Bitcoin is Changing Everything
Posted on 03/15/2014 10:33:42 PM PDT by TsonicTsunami08
Perhaps the single most prominent, and telling, feature of bitcoin today is its massive controversy in the media. Not a single day goes by without an article or televised mention about its dangers, risks, and dubious mainstream appeal.
(Excerpt) Read more at coindesk.com ...
Bernie Maddoff's clients all loved him until one day someone decided to cash in their account and everyone suddenly found out that there was no there there.
Personally endorsed by Autumn Ratke?
Hey, It’s all bark no bite.
Heres a list of retailers that take Bitcoin.
More take it this week than last week and many more will accept it next week.
It will take you about 5 days to read it.
She was obviously a troubled young woman, Thats a fairly disgusting comment, congratulations.
Here ya go, instead of counting sheep, you can watch the worlds fiat currency flow into Bitcoin realtime. China is still driving the market even with their leaders best efforts to stop it. Bitcoin is the honey badger of money!
Yeah, tax free commerce... /s
Lemons... lemonade. Taxes should always be based on the honors system. Anything else leads to tyranny when the socialists take over. The key to understanding the bitcoin economy is to understand that you won’t get paid enough in bitcoin to incur much taxation. Your previous comment for example will earn you the equivalent of a few thousandths of a penny, mostly from like minded folks who will wind up in the backwaters of the new economy. However there will still be pockets of decent pay in the old economy before the socialists completely destroy that.
Seems safe...what could go wrong?
Not that I have any faith in fiat currencies either, but Bitcoin is not exactly the new gold. I believe it is paving the way for a new world currency, but since that one will be Satanic and used in the End Times to control all of mankind, it isn't exactly something to be celebrated.
Bitcoin, at its root, is Occupy Wall Street’s wet dream. Amazing how many people on this forum have had the wool pulled over their eyes.
Me, I'm old school. I'll keep hedging with gold - the vast bulk of it purchased before it went north of 400FRN/oz. If only it hadn't fallen overboard in that boating accident.
Italics, bolding, underlining and words within brackets, are mine.
The writer of this self-serving piece used "its" twice -- once correctly, once incorrectly. Malapropisms are often dead giveaways.
Bernie Maddoff's clients all loved him until one day someone decided to cash in their account and everyone suddenly found out that there was no there thereFor the bitcoin-ers, I don't think that is considered a problem, but a desired feature of the currency. It has value -- all by itself -- that is controlled solely by the marketplace and not by a govt entity.
I guess the disconnect is that you CAN hold physical gold in your hand, whereas you CAN'T hold bitcoin's electro-magnetic representation of 1's and 0's in your hand. Then again, you can buy gold from a dealer that the dealer "stores" for you - supposedly. Does the dealer really go cut up a fractional bar of gold, put your name on it and set it aside -- or, does he just make an entry into some digital ledger?
As long as we have electricity, I suppose we will become more and more computerized as time goes by. Given that realistic likelihood, digital currency will likely increase in use, convenience and eventually widespread acceptance.
So while I can see buying 20 bucks worth of bitcoin now and then with "play" money just to speculate -- until that widespread acceptance happens, I'd rather buy whole gold & silver rounds as part of my serious "investing" budget & have them mailed to me so I can hold them in my hand and put them in my own secure storage.
That is the inherent flaw with bitcoin. It has no inherent value and most people who buy into it are doing so on the hope that their 20 bucks will turn into 40 bucks.
But what is it you are buying other than hope? You buy it with real dollars and in order to use it, it must be exchanged for real dollars. It is backed by the hopes and dreams of speculators and fools.
It is a fad. It is the pet rock of currency speculation.
It's cute but eventually it is nothing but an oversized piece of gravel.