Investing doesn't necessarily "require" a huge amount of capital.  You can invest smaller amounts, it just needs to be significant enough to offset any transaction fees you incur.  So it wouldn't make sense to invest $100 in stocks if the trading fee is $10, but you also don't need to be a millionaire.

If you're able to invest and make something like a 5% return, then it's worth doing, as savings will not produce that type of return, and will likely not even cover inflation.

Assuming that saving is keeping your money in a relatively risk-free (low return like a savings account or GIC) investment, and investing would be taking on risk, for a potential larger return, at the risk of taking a loss.

For savings, are you keeping up with the rate of inflation in what you eventually want to consume?

Spending vs. Saving is another legitimate question, the precursor to what to do with your savings.

Well anyone that wants to support Bitcoin is free to do so, so it is getting the support it should be getting.  The government is very slow with integrating anything, and adopting a new form of technology isn't something the government does.  I got audited by the government last year, and had to send FAX or MAIL back to them.  They did not even accept an online submission or e-mail.  If you cannot e-mail supporting documents, do you really think the retarded giant is ready for Bitcoin, the misunderstood volatile cryptocurrency that is not even mainstream yet?  It will need to hit the mainstream ahead of government as they are the slowest to adapt to anything, especially when it takes away the power than they work so hard to obtain.

Thanks for the link.

For the countries that exclusively use the USD, that would be a government decision, but for the countries that use the USD in parallel with their local currency, I wonder if that is a government decision or the general market losing faith and using USD (especially countries that have a large tourism industry).  When I went to Cambodia, it seemed as if the people actually preferred using USD, but that preference seemed to be based on their own confidence in the USD and not necessarily the government.

Hi,

Please remove me from this campaign.

Thanks - Signature has been updated.

Hi, I would like to join this campaign.

Bitcoin Address: 1NhqetSbHGDYAnkxxrkNECFFdREZDh9JBw
Current Post Count: 185
Current Rank: Member

Please confirm my eligibility and I will update my signature.

Thanks.

I know USD is accepted in other countries, but which countries are you referring to where the government adopted the US dollar?

Not sure what you mean here.  The US has been in a trade deficit since 1975, and I'm not sure how bitcoin would change that.  They actually want to remain in a trade deficit, because they are able to consume more than they offer indefinitely, which is not what "trade" is about.  The US exports fiat currency and imports actual tangible products.  As long as exporting countries don't mind, the US doesn't ever need to balance the deficit in trade.

I believe bitcoin has the best chance in developing countries with devalued currency, low corporate presence and regulation, but high internet adoption (Philippines, Indonesia, etc.)

Hi, I'd like to join this campaign.

Name:   freeyourmind
Posts:    182
Activity:    56
Position:    Jr Member

Bitcoin address:    1NhqetSbHGDYAnkxxrkNECFFdREZDh9JBw

Please confirm, thank you.

It's very difficult for good hearted, intelligent, empathetic people to make it in politics.  First off, the majority of the population is unable to differentiate between honesty and dishonesty, intelligence and stupidity.  So in that world, if a dishonest person paints a more attractive political picture through promises that will never be realized, and slanders their competition, many people fall for it.  People that are apathetic/sociopathic are able to lie day in day out and still go to sleep at night, and they just need to say whatever they need to get votes.  The main concern is being elected rather than improving and evolving society.

What motivation does the cream of the crop of society have to go into the government?  They become professionals, make much more money and stay out of the public eye.  The government gets the leftovers of talent.

I'm not sure if the government is afraid that bitcoin will take over fiat.  You will still need to pay taxes in fiat, which will be a portion of every transaction - sale/income/expense.  Fiat will have a place in the economy because it's what people trust, regardless of its fundamental flaws.

As others mentioned, $300 is arbitrary, and if it represents your confidence, what impact does your confidence have on the value of bitcoin?

Bitcoin has a value that you're representing in USD.  Do you know the history of the USD and its value over time?  If the USD is inflated each year, if Bitcoin's real value didn't change, it's nominal value in USD would inflate.

When the price of gold goes from $35 to $1200, do you think that the value of gold has increased or that the value of a USD has decreased?

I'm not making a call on the price of Bitcoin because I don't know, and the truth is you also don't know; you just have an opinion.

That makes sense.  You and Carra23 seem like great guys and ran this campaign very well.

All the best to you in future endeavors.

I'll keep your signature on for another couple weeks until my membership status changes

Okay thanks for the info.  Will do.

guitarplinker, I would like to join this campaign in May (I will be a member in 2 weeks).

I thought I'd reach out now as there is only 1 member slot open

Feel free to review my post history and let me know.

Thank you sir.

I don't hate the government.  I don't really hate in general.  I don't agree with a lot of government policies here.  Also, pretty much any private organization can offer a better level of service for lower cost than any government organization can.  The government effectively monopolizes industries, do not allow competition, and then force you to do business with them, whether you want to or not.

I would prefer minimal government to no government at all.

Government policy decisions were the cause of the 2008 financial crisis (mortgage securitization, sub-prime lending), government bailed out banks, government enables war funded by debt.  IF you have a benevolent government, then its great, but we don't have that, and in that event, I prefer minimal government.

Just look at drug policy alone, which is probably the biggest failure in policy ever.  They took a small issue and turned it into a massive global issue, forced the creation of a black market, where conflict resolution needs to be done outside of the law/courts/trial/police and basically dealt with violence.  You have people in jail for selling or using drugs, to which there is no victim for the crime.  You have privatized prisons that are deep in the lobbying game for the government that need people in jail.  You basically have the police and prison guards dealing with people that have a legitimate health problem with drugs, instead of doctors or physicians.  This is all a result of pathetic and corrupt government policy, which doesn't benefit the citizens, but rather a select few that profit from it.  I can go on about a lot of other miserable failures in policy that are still not being corrected. 

There is a riot going on in Baltimore at the moment, because black people are sick and tired of being beat up and killed by police officers when they are not initiating violence.

There are some services government provides which are fine, but private organizations can always do a better job, because they need to compete for customers, where the government will simply make competition illegal and force you to do business with them.

Here is an interesting quote that I like, and find a lot of truth in: "There are no political solutions, only technological ones; the rest is propaganda"
Then think to yourself - what problem has the government solved? or rather what problem have they made worse from their intervention?

If you're going at a steady pace (20-25km/hr) and not going uphill, it shouldn't drain your energy to bicycle.  It gets your blood circulating and can feel energizing.  I feel great after a bike ride.  The sweat is another issue, as well as bad weather conditions.  You'd probably need to bring in a second set of clothes to work.

It's a shame that people at your company look down on people on bicycles. 

Sorry to hear that.  Hope the campaign was successful for you while it was running.  Are you planning to bring it back in the future or is it being closed down for good?

Is that really how you see the government?  Benevolent public servants that care so deeply about the interests of its citizen that their own personal interests and career come second?  That is how it should be in an ideal world, but that is definitely not the way it is working today.

Think of teachers, whose top priority should be educating kids right?  Even in a slow economy, when they don't get the union negotiated raise they are looking for, they don't hesitate to go on strike and hold a sign instead of teaching the kids they are supposed to care about.  Not trying to talk badly about teachers in particular, but I think it's pretty naive to think that a public servant is here to serve the public.  A public servant is here to keep a job and make a living.  Serving you is priority #2.

Bitcoin goes against the foundation of many economies, that are currently maintained with monetary expansion, so it wouldn't make sense for the government to welcome bitcoin.

Yeah that's true.  The basic credit cards usually have no fee.  The cards with higher rewards and protection usually do have a fee, but the bank waives the fee if you maintain a minimum balance.

I think my card is otherwise $99/year.  I'd have a very different view on it if I was incurring fees.  As it stands, I pay no fees and receive 1% cash back on all purchases.