Bitcoin Forum

Bitcoins: Technological Innovation or Emerging Threat?

http://repository.jmls.edu/cgi/viewcontent.cgi?article=1743&context=jitpl


Ref: http://cryptocurrencylive.com/item?id=9613

 :D

On a more serious note:

  ::)

We're going to have to outlaw the Euro. Sorry guys - it might compete with the US dollar. Oh, and the Yen, Canadian dollar, AUD, etc. Everyone on Earth (and anywhere else) that has created a currency that might compete with the US dollar.

We have the authority because we passed laws hundreds of years ago. You must submit.

It's a technological innovation that's an emerging threat to the outdated ways that things are currently done.

This kid would probably bust a nut if uncle sam dipped into his personal bank account for the "good of the republic". Or even placed fines on withdrawing from his bond funds in order to prevent a liquidity crunch.

He is so wrapped up on the insistence that there can be only one True God (the US dollar) that he forgot what it means to be a free man. How can an otherwise free American become a slave? By being tricked into thinking that the state always has his best interests in mind, and sacrificing his freedoms voluntarily.

If you think Bitcoin is a threat, you need to rethink what it means to truly be an American.

Wow a definite PhD (Piled higher and Deeper) discourse. Get with the program. The IRS likes Bitcoin because they can tax it. The Federal Marshall's Service can sell confiscated bitcoins. It's also synergistic with fiat currencies around the world. The only people that need to be concerned with Bitcoin are those intermediaries that charge huge fees for handling the fiat stuff.

Good thing bitcoins aren't measured in dollars...any token intended to circulate in units of less than 1 dollar are illegal...but not tokens measured in other units (like troy ounces, grains, grams....uh...bitcoins)

A long read...  ;)

Skip the first 16 pages if you do not want to be bored with currency legal history, skip to page 21 if you know enough about the feds (who doesn't), and jump straight to page 26 if you have heard about the silk road case.

Some of the proposals are quite funny: create a government crypto; buying out all crypto (yes please). Guess what? The article proposed to outlaw cryptos rather than to regulate because it is easier ;D

Their game plan is to shut down exchanges and ban the use of bitcoin in businesses and corporations. Sound familiar? Yes, the China Bitcoin Ban.

Which is why decentralized currencies need decentralized exchanges.

We the people gave Congress the authority to coin money, but fortunately that doesn't mean we are obligated to use it.

Both.....

I think it's most certainly both. Definitly both a technological revolution and a threat to modern banking and processing systems.

Depending in your point of view it could be both

For the world as a whole though we are definitely better off with bitcoin than with fiat.

I think so too, and I believe there is already a wedge forming,
Separating those that support the new system and those
That support the old.  This wedge will penetrate all institutions
Including governments , corporations, and banks.

Technological innovation first and foremost.  Potential threat?  Doubtful.

It is only a threat if you are a banker or politician. For the rest of us it is  freeing.

Wont be too long before the politicians see it as a positive

a threat to world currencies
yes we should join in and get a bitcoin  ;D

its both a Technological Innovation and Emerging Threat for banker's fiat system