Bitcoin Forum

Hello everyone,

Francis Pouliot here from the Bitcoin Foundation Canada. I just posted a reply to the Bank of Canada's statements on Bitcoin.

http://ca.bitcoinfoundation.org/bitcoin-from-not-money-to-bankers-boogeyman/

Also, note their peculiar definition of money:

Money should be a generally accepted medium of exchange
Money should be a unit of account so that we can compare the costs of goods and services over time and between merchants
Money should be a store of value that stays table over time

Comments apprecieated

http://ca.bitcoinfoundation.org/bitcoin-from-not-money-to-bankers-boogeyman/

Banks consider it a direct threat to their fee structure and an innovative new technology has more than its share of incumbents who would love to see progress simply be destroyed for their bottom line.
Considering this from an economic viewpoint the textbooks need to apply theory to the modern age and realities that digital currencies can solve and address in finance and peer to peer transactions, and well Keynes and Classical certainly would not have considered this type of idea nor the direct economic evolvement based on digital technologies.
Austrian bias and Deflationary currencies are viable especially when they are inflationary for a long period of time bias :)

I guess it's supposed to stay "stable" :)

These seems like reasonably charactaristics for a money system.  Is there an alternative definition/set of criteria that I should know about?

Message to All Banks & Central Banks.


 Bitcoin says Checkmate!


 Banks: Either get on-board or get left behind.

 Bitcoin has Already Won The Game.


 Bitcoin is Freedom.

 Bitcoin is Genius.

 Bitcoin is a Huge Part of The Future.

Checkmate. Bitcoin Wins!


 And this is just the Very Beginning of this Decentralized Monetary Revolution.

 Nothing can stop it. Not even our soon to be ex-Central Bank Owners.
After all their Debt Based Monetary schemes and policies are a complete failure.


 Governments & Peoples will soon be Free.


 Governments: Tear down and toss those Debt Based Currencies into the ash-bins of history! Start over with Debt-FREE national currencies! And tell those crumby, seedy Central Bank Owners / Your soon to be ex-bosses, that their either With all of US (The New Free World), or their Against ALL of Us. And that no matter what they can't hope to keep us all in debt-based fiat currency bondage from cradle to grave (and beyond) anymore.

 Lastly, Governments: Bitcoin and this Decentralized Monetary Revolution is here to keep your fiscal and monetary policies in check, so you never let the Peoples down again. From now on Peoples of this World have yet another asset, an an extremely liquid and viable monetary asset, to run to at the speed of electrons should government(s) fiscally and or monetarily misbehave after this is all in motion. Your in check Governments, with a Brand New Deal, a clean fresh start, The Peoples too, and Freedom from Debt Bondage just like the Peoples. You too are now also set free as you desire to be Governments. After all You want it too, and You hold all the cards (standing armies and police). Imagine: Never again more Government debts merely to borrow, print or create new, needed and required monies as prudently demanded.
Governments cannot do any worse than the Central Banks have done in the last 100 years of complete failure to do every one of their duties.

 So...what's it going to be Governments of this World?

 Debt based currencies with interest payments into perpetuity and debts just grow and grow and that cannot mathematically ever be paid back until finally they again repeatedly collapse the currencies ? (the definition of insanity).

 Or Debt Free Currencies of your own choosing and type?

 Hint: Governments tell the Banksters to take a hike and retire, or find a new gig at a new place. After all they don't have standing armies or police, nor anything else behind their broken promises and failures.


 1/1 exchange.
 
 Figure out how and - Make it so.

 Many Bond Holders are Hippies! Past time for serious haircuts for them!



 Set this entire World FREE! Tear up those Interest Payments into Perpetuity!



 Bitcoin is The Very Beginning of Financial & Monetary World Freedom.


 Bitcoin is Pure Genius.


repeat...

Message to All Banks & Central Banks.


 Bitcoin says Checkmate Central Banks!


P.S. Bailouts are for Governments and Societies ONLY!
       Never again will any business or personal failure be rewarded.
        Bankers Need Not Apply Ever Again.

bank of canada is shaking in its pants soiling itself

they are doing pretty good and fighting against bitcoin but of course bitcoin dont give a fork.... and will outlast bank of canada