Posted on 03/16/2014 11:35:27 AM PDT by TsonicTsunami08
Ask Alan Lane. In October, the president and CEO of Silvergate Bank in La Jolla, Calif., was up in Sacramento for a roundtable convened by the California Bankers Association and the state's Department of Business Oversight. Reading a laundry list of about a dozen issues on the department's radar, Commissioner Jan Lynn Owen mentioned Bitcoin — the Internet currency, payment system and technology that's been grabbing headlines, igniting controversy and inspiring innovation across the globe. Lane pricked up his ears, in part because the $616 million-asset Silvergate had been in discussions about banking a Bitcoin startup.
(Excerpt) Read more at americanbanker.com ...
IIRC, it was you who started this stupid thread. Bitcoin is pretty big over at DU. Perhaps you might get a better reception over there.
Most get rich quick schemes are, in fact, get poor quick scams.
Just think, you could have cornered the entire coin of the realm market back then for a mere investment of $650,000. You could have owned everything in the world for the cost of a mini mansion in Encino.
Now it will cost you $800,000,000 to own the world. It's still a pretty good investment. If you ask me.
The bottom line is how useful it is in desperate times:
can you eat it
can you defend yourself with it
can you wear it
can you live in it
can you warm youself with it
So....land, seed, weapons
Now is the time to buy!
I am getting tired of fingerprinting the caps though so, I'm going to be
marketing a “self printing kit” and “certificates of intention to print” will be available too.
My product is way more tangible than yours.
When you eat it, it depreciates in value.
Now a dog can puke it up and eat it again. I don’t think I could do that. And if I puked it up I don’t think I could find anyone who would be willing to buy it. But it might work as dog food in a pinch.
Can I pay you for themn with my special bitcoin algorithm?
As soon as the necessities are provide for, according to your list, gold will still be a store of wealth. Homes and estates will be traded for gold coins.
fertilizer comes out both ends.
Well, I tend to trust gold, for the same reasons it’s been a store of value from the ancient Greeks until today.
I’d really prefer that you paid me with your gold and silver. :-).
Only if an economy exists
I prefer to trade in bullets and weapons
Only if you actually sell one at that price.
Price is established where ask and bid coincide and an exchange actually takes place.
How many have you actually sold?
If zero, then that's what the price is.
The price of bitcoin is established by free trade on the market.
Dream on. It won't make it into 2015. It's a ponzi scheme and you are a sucker.
Only one of two things can be true, you don't understand what a Ponzi scheme is, or you don't understand how bitcoin actually functions. I'm guessing, based on your assertions in this thread, the latter.
I would like to offer you a chance to put your money where your mouth is. You say that bitcoin 'won't make it into 2015'. Would you care to make a wager on that proposition?
Can you explain what mechanism enforces this hard ceiling on the total pool of your proposed currency, and then compare and contrast that with the mechanism that enforces a hard limit on the pool of bitcoins? You do understand what enforces the limit of bitcoins, right?
When the P-Marlowe coin becomes the coin of the realm, you’re going to be sorry you didn’t buy a couple of them. With a limitation of one million total PMC’s they will be worth a billion dollars apiece someday. You can count on it.
Can I put you down for a couple? We accept those worthless US Dollars that you don’t like. I also accept silver coins and gold coins at spot plus 1%.
I’ll ask again, since you appear to have missed the questions:
Can you explain what mechanism enforces this hard ceiling on the total pool of your proposed currency, and then compare and contrast that with the mechanism that enforces a hard limit on the pool of bitcoins? You do understand what enforces the limit of bitcoins, right?
“Well, I tend to trust gold, for the same reasons it’s been a store of value from the ancient Greeks until today.”
Gold does indeed have its virtues. BTC, on the other hand, shows that “there are no new things under the Sun” is not always true. :-)
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