Bitcoin Forum

http://www.youtube.com/watch?v=9Y4T0t_ZWXE

Bitcoin Debate- Silver Shield vs. Brother John F

Silver stacker and seller Chris Douane (truthnevertold) can't get himself to trust bitcoin. It must be a ponzi because it's like fiat currency: intangible. You have to "get physical". He even brings up CIA conspiracy theory ("this is the type of thing the CIA likes to do).

side-note: Trace Meyers excellent piece on this bitcoin tangibility isn't well-received by the silver bugs.

Why Bitcoin Is Tangible – Digging Into The Guts Of Bitcoin (http://www.runtogold.com/2012/11/why-bitcoin-is-tangible-digging-into-the-guts-of-bitcoin/)

Thanks for the vid  ;)

I think they don't really know what Bitcoin is, also they are gold and silver bugs

So? I think if they understood bitcoin and trusted the tech and therefore bitcoins scarcity, they'd be all over it and putting 5% of their bulky bullion into bitcoin.

Some of the seem to come around recently.

i wish they started to understand that money is just information, and gold and silver are merely tools to store and transport this information without the need for an authority.

When the asteroid miners come back with the gold and silvers, we'll be the one who's laughing. MUHAHAHAHAH.

you made me laugh already ;)

i actually understand what the redittor is complaining about.  personally, i avoid trying to get into their sandbox and redefine core gold/silver bug concepts like "tangibility" while attempting to apply them to Bitcoin.  it's too much of a stretch for them, and me, quite frankly. 

i think its better to stand back and build our own philosophical arguments based on what Bitcoin actually is and what it does.

just listened to the debate.  the detractor had no substantive arguments other than Bitcoin stinks to him and he "thinks" it is a ponzi.

that only exists b/c he hasn't taken the time to understand Bitcoin or isn't capable of.

the key is the open source nature which means the code is subject to the accountability of anyone capable and willing to take the time to read it. 

its based on the truth which is much more than can be said for any fiat currency.

I'm curious if people like that apply their tangibility arguments to their personal life. Does your wife only have value when you can touch her??

Epic  :D

I might come around to your viewpoint. Maybe one could ask what's behind tangibility. Why do goldbugs love tangibility? If the answer is: because there is obviously no 3rd-party risk and you can protect the asset from being taken by others, well than it can be argued that this is also possible with bitcoin. While you can't really touch a private key, you can still protect it from being taken by others (even more easily than tangible stuff) and there is no 3rd-party risk invovled either.

Exactly. Tangible is not important to them because they can touch it, they can touch dirt too and yet they don't really care about it. Tangible is important to them because they know the properties that gold has cannot change. That's the only reason that tangibility is important to them because they think that anything that isn't tangible (to them this means thought up by men) can't possibly be governed by rules that can't be changed and yield the same type of properties conducive to something being a store of value and be great for exchange of value.

So tangibility is really how they express the "locked in" properties that gold has. Well the properties of bitcoins are also "locked in" due to the fact that it's practically impossible to change the rules. But this for them is hard to comprehend how it could possible be since they lack the technical expertise to be able to understand the underlying technologies that make that possible. And so they cling religiously to what they know.

Chris is 100 percent invested in silver so there is a reason why bitcoin stinks, his logic on bitcoin is scary because he has so many silver bugs following him.

that doesn't scare me in the least.  it's just another form of ignorance that over time will be overcome.  Mr. Market requires that there be skeptics, otherwise we wouldn't have sellers.

Bitcoin is hard.  But the fact that we are into this over 4 yrs now and running in the right direction is a great sign.  It really does take a special set of knowledge tools and understanding to get it.

same as bitcoin.... time, electric, hardware costs


goodluck making a 1toz gold brick with just a bucket and spade, i hear that will take you years. it takes money and energy to get an excavator, find a plot of land, and start digging these days for anything worthy of a weekly wage.

and this next statement he says can be used for both gold and bitcoin

When society collapses you probably want as many cans of food and toilet paper as bitcoins and gold.