No, this is wrong way of thinking. You should not compare Bitcoin to Ponzi scheme, because that automatically creates bad assumptions.

Ponzi scheme is about few people winning, and everyone else losing.
Bitcoin/Gold/Silver/Any non-inflating currency is about everybody winning.

You should seriously stop comparing Bitcoins to Ponzi scheme - that is just false, wrong and detrimental.

Again. Not true.

The same applies to gold, and ANY valuable bullion.
The more people join the "gold bandwagon", the more cash early miners (or early buyers) earn.

If the people (or their families) who mined (or bought) kilograms of gold during the gold rush hundered(s) years ago waited till today with the sale of the gold they own, they would probably earn thousands (if not tens of thousands) % of their first investments.
Exactly as with Bitcoin.

What is the difference ? No difference. Bitcoin is almost exactly like physical bullion with one exception: it is not physical.

That is simply not true.

Yes, Bitcoin has certain characteristics of Ponzi scheme, but it differs from it in everything except one thing.

The only thing that connects Pyramid schemes & Bitcoin is that early adopters get the most profit.
But the same applies to gold. Early miners mined greatest amounts with minimum effort. The more gold was mined out of the ground, the less profitable mining became. (as it became harder to find gold & harder to mine large amounts, because gold veins were more dispersed)

So, is gold mining a Ponzi scheme ? I see a lot of flawed logic here.

I do not posess such details. You need to check it out yourself.

However, I imagine that US government took care of that possibility. After all, their world hegemony & military domination comes from taxing entire world with their always inflating currency.

Inflation = tax. When dollar inflates, US taxes entire world (because there is more dollar outside of US than inside US). This is the greatest thievery of the century, or perhaps even in history of mankind by the way.

Well, this "bubble" dropped bitcoin by about ~22%, so not a big deal.
IMHO bubbles like this will always happen, however they should get smaller as the BTC economy grows.

I like this very much anyway, because i was just planning to buy more BTC and this is the perfect opportunity.

Jesus, where did all that aggression come from ?
Did i offend you in any way, did I rape your daughter or kill your little kitten ? I mean WTF dude, i just asked a question politely.

I think you just lost a possible customer.



If i wanted to google it, i would just google it.

I didn't want to google it, because i wanted to hear it from you.
It was kind of "what did you mean by this exactly" question.

Right, i need something more specific - 1 to 3 links maximum.
I don't want to struggle going through all of the links.

Anyway, it's nanaimogold that should answer the question. You don't have to.

Thread from november 15 ?
I guess someone just advanced to Necromancer Level 3...

1. What, you call this (drop drom 1.05 to 0 .82) a "bubble" ? Well, if that is a bubble, then i want all bubbles to be like this.
2. Usually after fast rise there is a correction. It's starting to rise again, and this time the rise will be more permanent.

Will this patch be added to the publicly avaiable source, or will it be a secret/closed source ?

I just did, and i didn't find any links to press articles about Government raiding currency exchangers.

Correct,  however i meant that it is similiar in the way that you can easily send money worldwide in matter of seconds.
Paypal is a soft currency (drawbackable), so that is what differs it from hard currencies such as Bitcoin.

Simple.

All countries have to hold certain amounts of dollars on their accounts, as they will always need it to buy Oil. Because they are holding it, they need to buy it from time to time, which creates demand for dollar. And demand rises dollar price and keeps it from falling and keeps it in the market.

With Euro-based oil exchange, nobody would need dollar at all, so no country would hold it, so nobody (outside USA) would buy it, so it would have a small fraction of today's value. Hyperinflation.

the article says:


So it seems that PRODUCTION of heroin may be illegal. Production != posession. They can still jail you for producing large amounts.



So I was right: there is no country in the world that would allow sex with (< 10 years) underaged children.


Which won't help a lot as i already pointed out. Most governments in the world are either too corrupt or simply powerless to stop people from using P2P, so how can they stop them from using Bitcoin ? Death penalty ? That won't pass.

And by the way, the governments work too slow to ban Bitcoin before it reaches critical mass. Unless of course they have another argument like "Bitcoin was created for evil", which is the whole point of banning  stuff on this forum.

Personally i believe that Bitcoin will gain critical mass in maximum 2 years, after which it will be virtually unstoppable (unless of course some serious technical weakness comes up). Global domination in progress.

No worries.

With today's technology you can create a Fort Knox to hold your Bitcoins in your home.
Truecrypt + Virtual Machines + Linux are the things you need.

With these, it is possible to create a digital safe with multi-level encrypted rooms full of mirrors & traps/honeypots which only you can navigate and only you know if they contain anything.... Possibilities are totally endless.

----
PS. If you want to go "security", drop Windows & Mac instantly. Go Linux or BSD. Corporations such as Microsoft & Apple can not be trusted. Actually, no corporation can be trusted and that is why we have open source software.

No. Pedo-porn with young children (<10) is banned practically everywhere.

----
Also, i don't believe a country which would allow legally producing (not posessing) heroin exists, however i may be wrong there.

I think the scenario depends on type of country. For example:

- "Full stop": In muslim countries, penalties for using such technology can include stoning a person to death (or cutting a hand, flogging etc), so Bitcoin adoption will seriously slow down or even stop there because people will be seriously afraid of consequences.
- "Little or no slowdown": In a "western democracy" type, little will happen. People will keep using Bitcoin as they keep using P2P. Adoption may be slowed down a little
- "No effect or speedup": In post-communist democracies, governments make rules, but people break most of them every day. Nobody gives a fuck about law and curruption is very high. So it will have no slowing effect whatsoever. Even a little speedup is possible, because government banning something will create a free advertisement for it. How do i know this ? Because i live in such a country.

Ceiling cat provides:

http://www.time.com/time/magazine/article/0,9171,998512,00.html
http://www.globalresearch.ca/articles/CLA410A.html
http://www.ratical.org/ratville/CAH/RRiraqWar.html
http://www.google.pl/search?hl=en&q=saddam+hussein+oil+euro+exchange

Selling oil for dollar and for dollar only is the only thing, that is keeping that currency from hyperinflating. Question is, how long can this trick work ?

Also, when will USA will attack Iran ? A month/week before opening of Euro-based oil exchange. Destruction of dollar = destruction of current US economy. They can't let it happen.

Finally.


Exactly what i had in mind.

Not true, or at least not the whole truth.

Bitcoin is simultaneously like:

1. Cash in the mail
2. Bullion mined from the ground
3. Physical commodity
4. E-currency
5. Paypal

Bitcoin is many things, limiting it only to money transfer is not very accurate IMHO.
Clearly this is invention of a genius, to say the true.