Bitcoin Forum

http://www.youtube.com/watch?v=DoK8HXMSsNg

I really really want to laugh at him face to face!

I have seen that same little icon of his profile on youtube on a poster or two right here on the forums...

It's a troll! Or a willfully ignorant person, I stopped watching the second he said "how do we value bitcoins". We all value bitcoins and assign them a price through the market, like we're doing right now. If you cannot afford a full bitcoin, then buy half and trade with that, Assuming BTC hits $20, .5 BTC will be $10.

How do you know how much gold is $8 for that matter? Or vice versa? Bitcoins are a commodity and all of us that participate in the bitcoin market agree on how much we want to pay for them.

Just like FIAT currencies whole bills are divisible with quarters, nickels, dimes and pennies, and so too are bitcoins divisible, by up to 8 decimal points in case one btc reaches elevendy billion dollars.

Don't worry.  I paid for the bitcoins with federal reserve notes. 

Don't worry, the bank said we can pay them back in federal reserve notes.

I discussed the topic with him a bit on mises.org community forums. His "trade model" does not consider transaction costs and thus contradicts Carl Menger, the founder of the Austrian School (to which Nielsio subscribes), who realised this 140 years ago.

I'm glad I didn't take his advice.  ::)

Haha oh my. Love the carrots. I've seen this guy before. He is simply wrong.

I lolled a second time coming back to this thread... so now I must admit to it

 :D

One really confused guy

Mmmm, no, not by a long shot. There are people with Youtube videos about bitcoin WAY more ignorant than him. Like for example that bald dude that someone has an avatar on here of, with an alien thingy stuck to his head. You'll find even more ignorance in the comments section of /. articles on bitcoin, too. Some of those posts are just painful to read.

https://bitcointalk.org/index.php?action=profile;u=14492

http://www.youtube.com/watch?v=6qSj24_E_lU

I watched this guy when I first heard about bitcoin way back, when I didn't know/understand anything about it, and unfortunately didn't really bother to do my homework.  Looking back, he is sooo incredibly beside the point, it is really laughable.  Wouldn't want to be the company that hired this "bright" computer engineer, he looks and reasons like he was on SR too often....

EDIT: another pearl : https://www.youtube.com/watch?v=wgr3qEjbstM

He's unfortunately also the moderator of http://www.reddit.com/r/austrian_economics/, which is why /r/Bitcoin links to a different Austrian Economics subreddit in its sidebar.


He designed that "V for voluntary" symbol, but it's widely used by other ancaps.

I had no idea the same guy from that video is the one who designed the symbol. I picked it for my forum avatar because I'd seen it in a lot of places and liked the design, but now that I know, I feel like it's even more appropriate to use it here.

This guy is like the apocryphal aerodynamics engineer who patiently explains why it's impossible for a bumblebee to fly.

Hahaha awesome analogy  :D

Oh god. I had a hard time watching that. It was actually painful watching him try to explain his... thoughts if you can call them that.

"Or is there  ;) ;) ;)"

It quiet interesting how uninformed people can talk about things so confidently.

I don't think he understand what "legal tender" means.

He's just jealous because Silk Road is putting pressure on his Dam coffee shop.

The most ignorant guy on earth?  Hmmm ..... No, there are lots of them.  One of them heads the Fed.