WTF... have you seen bitcoin prices?

OGEvilgenius

OGEvilgenius

Well-Known Member
Kervork said:
Excuse me but the government doesn't seem to control the freaking currency. They buy it from the dudes at the federal reserve and pay with treasury bills. Where the dudes at the federal reserve get the money from, well I guess they just fucking print it.

I fail to see how basing your currency on a mathematical algorithm is any worse than the shithole it currently emerges out of. Did you think it was based on gold or silver.

Your money is based on something no less intangible than bitcoins, it is based on your ability to pay off treasury bills with uhh. money that was printed by the federal reserve.

So drug dealers price their products in it. That doesn't mean it is a tainted currency. They are just innovative and early adoptors, not unlike the pornographers and the internet.

I for one see an advantage to having a $50 billion dollar drug market priced in bitcoins.
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Bitcoins are actually significantly more tangible because the market cannot be manipulated by a central authority so easily. My concern about the price shooting up is that big "manipulated ponzi scheme" money has bought in so they can attempt to measure some level of control over it through more old school market manipulation methodology.

Bitcoin was the beginning of a very real and legitimate revolution. They might find it difficult to stop.
 
OGEvilgenius

OGEvilgenius

Well-Known Member
Also it would be a true deflationary system. This is the only fair system, I didn't realize there was a 21,000,000 limit - I did know the formula for creation of them becomes harder and harder to solve at a really high rate.

Think about it though, it means savers actually prosper - the way it should be. The risk taking destroyers of worlds cannot easily just create more money for themselves at the expense of said savers and in such an economy providing no centralization of wealth allowing for monopolization (which would be the natural inclination but it exists in an unnatural setting - see my concern above about big money buying in) with steady and constant growth that everyone who works hard benefits from on some level.

Some more than others - there would still be haves and have nots but the have nots would lead lives substantially better than what we live now just based on the available evidence regarding resources I have read and collected over my life which is admittedly not the whole body.
 
Finshaggy

Finshaggy

Well-Known Member
DVC is going up, everyone should spend .1 BTC and get 285714 DVC. Once those become 1 penny each you will have $2857.00
 
Impman

Impman

Well-Known Member
OGEvilgenius said:
Bitcoins are actually significantly more tangible because the market cannot be manipulated by a central authority so easily. My concern about the price shooting up is that big "manipulated ponzi scheme" money has bought in so they can attempt to measure some level of control over it through more old school market manipulation methodology.

Bitcoin was the beginning of a very real and legitimate revolution. They might find it difficult to stop.
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You do realize that you can purchase lots of other currency with U.S. dollars, right? This statement does not make it clear that you understand that. You are purchasing Bitcoins with ...what? your service?....no...I think you are using U.S. dollars... ...walk me through this logic again...
 
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