Bitcoin Forum

LOL - Most of it is correct.

http://www.foxnews.com/on-air/shepard-smith/index.html

TL;DR: Bitcoins, B-I-T-C-O-I-N-S - It's available to you inside the google.














::)

Without even watching this video (I will when I get a chance away from work), it is hardy the end of anything. The investigation is just that, they have created no new laws or pushing to limit what Bitcoin can do, though I have no doubt once they realize that Bitcoin is a direct competitor to Federal Reserve ponzi-banking they will do everything in their power to kill it off. They don't want us to use something they dont control in the slightest, as I imagine doing legitimate  and fair business in an open field of battle is appalling to them.

But they can do this no more than they did to BitTorrent, which in the end after millions of dollars were burned on legal suits, resulted in nothing.

Even if they did kill Bitcoin dead somehow, there are about 40 other blockchains out there to take its place. They simply cannot regulate it all, much less control because unlike fiat no one owns the Bitcoin network. Bitcoin is the antithesis of money control, designed to deflect such regulation.

 

Fuck FOX News. They ruined my country.

Then again, without FOX News, I might not have moved to Canada and become a part of the Bitcoin movement, here.  ;D

AWESOME!

That was surprisingly positive and accurate, relatively speaking.

Oh, really? Wow, I guess I judged them too soon. I didn't even bother to watch it.

Except when the guest says "you can download software onto your desktop to mine bitcoins."  This isnt 2009.

someone send that dude reporter a bitcoin or fraction. i think he deserves it for being somewhat positive and interested

Or that the he thinks through mining on your desktop you will receive 50 BTC. They are all relatively clueless.

It would be nice if one of the largest media outlets in the world had a deep understanding of what they are talking about.

For being Fox News they actually did quite a good job...

WOW, did I just watched facts on Fox News??!!1


And this should be the new bitcoin slogan:

"Once you can buy alcohol, it's real"

i can't remember any of these suckers mentioning a mining pool

they get the mining part so wrong


'Studio B'

for the limited smart audience as opposed to the real mainstream

man everytime that blonde talks...........lame (avoided a swear here)

and don't forget


"It's available to you inside the GOOGLE!"

he's a big newb!

and if you want gold you can get a pan and go to a river and sift and pan for gold!

Yes, if that guy is an editor at Mashable he should know better!

He says "and you can actually generate your own bitcoins on your desktop... 50 at a time"

But otherwise this is pretty good.

dumb lady: "Well come on, do you think the IRS is going to stand by and let us invent an entire new currency that we can hide what we buy and what we do and what we earn? No way."

dude: "We did. 4 years ago. It's been going on for 4 years."

I loved that part. Also, I love how she thinks just because the government cannot regulate something that it should become illegal.

This is unforgettable! Funny statement of the year! :D It was almost like a free Bitcoin infomercial too!
 

Yeah I think a lot of people are in for a big surprise with Bitcoin, I hope they thank Satoshi when he is done saving our economies bloated dead ass.

LOL i never laughed so hard in years, funny guy  ;D

Edit: No one gets it, when you make something illegal it's value rises, alcohol or drugs are a good example of this.

I disagree. I've witnessed the exact opposite of what you describe. YMMV, ofcourse, and currency is probably on a whole new level that drugs, alcohol, and tobacco are not.

Unless you believe that the whole world respects USA polices, I doubt Bitcoin will go away. When the dollar eventually devalues to nothing, Bitcoin will be the only way to get your wealth out of the country. The price will go up.

you mean as its declining quite apparently (that some of the population realize)

because who's going to take these worthless dollars for bitcoin so that they can get it out of country smartypants

Free market: not ilegal -> less demand -> cost rises.

No need to make it ilegal in the first place!

Just legalize it. :)

oh makes total sense  ::)

HAHA, I do love the closing line: "Bitcoins, B-I-T-C-O-I-N-S - It's available to you inside the google." - AWESOME

I do have to say, I did enjoy the fact the first couple minutes was the intro and almost a mockery of bitcoin in the sense of it being taken seriously cuz its supposedly not backed by nothing...
But then the guy being interviewed took a moment to point out that fiat is backed by nothing but peoples belief in it having "Value" and thats happening with bitcoin as well.

Thought that was an awesome moment of truth! Cuz thats one of the more important things people need to realize bout their "real" money... its just as fake as anything else =P

Sorry, I've made a small edit.

I believe psy is referring to narcotics consumption decriminalization in our country, it led to less addiction/consumption and higher price.


If you thing about it, bitcoin is the pure fiat.

I dont follow?... explain are you basing this on the fact fiat has no intrinsic value?

Taken from wiki:
*any money declared by a government to be legal tender.[7]
*state-issued money which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard.[8]
*money without intrinsic value.[9][10]

Because the first 2 dont really apply to bitcoin....

Fiat ("let it be done", "it shall be").

When you sell a bitcoin for 100 dollars, that means you don't think that that bitcoin is worth more than 100 dollars and the person who buys it think it is worth more than 100 dollars, otherwise she wouldn't buy it and you wouldn't sell it, you two decide the value, "let it have value", it was 1 dollar for 1300 BTC, 10000 BTC for 1 pizza. now 100 dollars/BTC.

Bitcoin is worth what people agree it is worth.

ah ok got ya, the literal translation =)

Dumb lady: Irs is not going to stand for people making their own money
guy: well, what are they going to do?
dumb lady: they will make it illegal, they will stop it.

-yeah, because that worked so well for drugs, good thing nobody uses those anymore because they are illegal!

So the noob guy say you might be able to buy bitcoins from a "M-T-gox", whenever I read it I say "Mount Gox", how do you read it?

As a matter of fact I'm talking about The Netherlands and Portugal. Weed bought to a street dealer in any of the 2 countries costs half-price or less of what it costs in a dutch coffeshop.


Illegal != Expensive

I guess people like 420 prefer to believe urban myths than life experience...

I disagree psy. As you probably learned from history any prohibition raised those goods prices on the black markets. Bitcoin is no different than a digital good, people want it and would pay a premium to get it in case it was made illegal. We're getting into human nature here.

Of course you will have higher prices in dutch coffeeshops than street because of taxes. You would see way higher prices on the streets for drugs with the same daily production, and demand, bitcoin has. Do you think bitcoin black market will be identical to marihuana's which everybody can grow in their back yards?

So, which is it? You disagree that blackmarket lowers prices and next you tell me "of course" weed will be more expensive in a dutch coffeshop because of taxes? It seems you are in agreement, not in disagreement.
I know it's hard to convince your brain that all the lies you were taught your whole life are just lies, but you should try.



Oh, one thing I've noticed is that people tend to think of Silk Road as a good example of a blackmarket. Well, it's an insanely overpriced blackmarket. Prices on Silk Road are like 3 to 4 times street prices, sometimes even more. Truly insane.

I agree, but you cant buy and pay all bills with Bitcoin.

Hmm, so you agree with me that people don't have an issue to pay a premium for illegal goods. I think the secret lies within ease of use. It's way easier to order online, and safer, than to get your dose in some dark back alley. So the higher price is compensated with higher security.

Only time will tell who is right on this one, but will be fun to watch indeed!

Exactly.

It's all supply and demand. it depends on the events occurring after it is criminalized or decriminalized; the level of enforcement and more.

Tougher enforcement can lead to even higher prices (by squeezing supply further), witness cocaine and heroin.

Yes, and we can look at concrete data, at least when it comes to addiction.

I was involved in the pro cannabis liberalization and drug consumption decriminalization movement 13 years ago in my country. I grew up before decriminalization. I grew up seeing junkies in every corner, I played near used needles and syringes, cases of addiction in family, neighbors... Practically everybody new someone close with heroin addiction.

13 years after decriminalization things are much better, there are syringe exchange programs, rehabilitation programs, everybody caught using something had to have a few meetings with a psychiatrist, several of my friends had to go, fortunately, I was never caught, and it was always my opinion that send 20 year old college guys who smoke joints to psychiatric consultations a waste of resources, many people with serious addiction could use the attention.

On the other hand, we have US War on Drugs, and has far as I know drugs are winning big time.

Europe's Drugs Bazaar - Portugal http://www.youtube.com/watch?v=qEDZXuRcGig

The news reports what it thinks is right, this wasn't terrible - but your right, only time will tell!

Love it: https://www.youtube.com/watch?v=XSKgVcMC2yc&t=329s