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Title: 2013-04-16 Acton Institute: The Story of Bitcoin Post by: n8rwJeTt8TrrLKPa55eU on April 21, 2013, 05:50:48 PM 23-page PDF (negative) analysis from religious viewpoint.
Quote The Mission of the Acton Institute is to promote a free and virtuous society characterized by individual liberty and sustained by religious principles. Quote This is probably the primary reason Christians should avoid acquiring and holding the currency: At best they are gambling with God’s money; at worse, they are hoping to sell an object with no intrinsic value to someone more greedy or gullible in the hopes of getting out before the bubble pops. Quote As a currency, the story of Bitcoin is likely to become nothing more than a footnote in obscure economic journals, but its legacy on information technology and peer-to-peer based trust systems may be as significant. The question we Christians must ask is whether we should encourage the growth of a system in which thousands of people will eventually lose real, significant wealth in the hope that it might lead to such innovations that last as long as the stones of Yap. http://blog.acton.org/wp-content/uploads/2013/04/Carter_The-Story-of-Bitcoin.pdf Title: Re: 2013-04-16 Acton Institute: The Story of Bitcoin Post by: cbeast on April 21, 2013, 06:24:44 PM What a bunch of FUD. I can't even begin to point out all the nonsense. Before I intended to respond, I read the Acton Institute Core Principles and realized that this organization is a wolf in sheep's clothing. Monetizing their religion by dictating "free market principles" is nothing new. Bitcoin doesn't need these moneychangers.
Title: Re: 2013-04-16 Acton Institute: The Story of Bitcoin Post by: Mike Christ on April 21, 2013, 07:44:57 PM Quote from: Comstock The Mission of the Acton Institute is to promote a free and virtuous society characterized by individual liberty and sustained by religious principles. http://operationrainfall.com/wp-content/uploads/2013/02/comstock.jpg Title: Re: 2013-04-16 Acton Institute: The Story of Bitcoin Post by: Gabi on April 21, 2013, 08:34:25 PM Pure epicness, awesome :D :D :D
Title: Re: 2013-04-16 Acton Institute: The Story of Bitcoin Post by: odolvlobo on April 22, 2013, 01:23:27 AM It is better than most. It does a very good job of explaining how Bitcoin works.
The problem parts are the comment about "gambling with God's money", the quote by Timpthy B. Lee that concludes "So one of Bitcoin’s key selling points—a permanently fixed supply—is basically illusory", and the last paragraph asking "... whether we should encourage the growth of a system in which thousands of people will eventually lose real, significant wealth ..." |
