A bank doesn't create money, it only lends out money which people have deposited in the bank. Thus the money people give to their bank and that is shown on their bank account balances isn't actually there. Bank account balances are what the bank owes you but not what the bank can necessarily give to you.

People have rightly pointed out that this is fractional reserve banking.

Governments create money. They have full central control over the supply of money.

The only thing I'd add is it also refers to factors of production controlled by the state (AKA. public sector).

Value to the buyer is the willingness to pay (WTP) and value to the seller is the willingness to accept (WTA).

Thats the objective definition everyone should use.

I like the concept of bit coin but would I really use thousands of pounds on these exchange websites which have "USE AT YOUR OWN RISK" written all over them? Nope. I'll continue to invest money in other ways. Maybe I'll lose out but at least I can sleep better at night. I could try it out with a little bit of money but then there is the fact the websites don't make it very easy and if it was easy, I'd still be afraid more money would come from my bank than expected.

What if these exchanges were to be shut down as well?

It's your own fault for buying in an unsustainable bubble. Maybe another bubble will help you out and the non-speculative supply and demand could help bring the price up over the longer term.

I suggest that the OP should commit suicide if he does like human existence.

I would consider buying if it went under $10 and there was a safe way to buy them. I don't trust those exchange websites. I also want to be able to use my debit card with no crap involved.

Markets only crash because of government control?...

I've never used Java before but I am interested in it because I want to look into Android.

Anyone capable of porting java?  

There was a thread complaining about floating point safety. Floating point numbers aren't always accurate and can't represent numbers like decimal can, past the point. If integers can be used instead, I'm all for that. 

A bitcoin specification document should (well I think it's a good idea) be produced with pseudo-code examples or examples in a high level "safe" language.

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I'm sure bitcoin is complex enough for someone to write a book on it. 

Lots of platforms and architectures support C++ but not as much with microcontrollers. And it's harder for C programmers to make use of C++ code. C is one of the most popular languages. C++ programmers can easily take C code, doesn't work the other way around.

Once again, I would love to make a C library but I don't like C++ and there isn't a specification for bitcoin I could use without reading the source code, is there?

Also, I think I'm out of my comfort zone with bit coin.

A large number of people talk about when they will sell their bitcoins, implying a lot of people are speculators on the bit coin market, hoarding bitcoins. My best guess, once again, is that it is highly likely the price is being driven high through speculation and people's blind bullish outlook is keeping the price high.

For how long?

As I said, I personally would be willing to implement it in objective-C. Objective-C is based on C and you can use C99, ANSI etc. with it perfectly.

Can't do that as the source code is now.

My point is that a standard C library would make bitcoin more portable for programming. It would make implementing bit coin on more platforms easier.

Fascism is anarchism now?

Have I been informed wrongly on something?

Proper secure payment methods. Credit and debit card payment.

Has Metal Gear Solid taught people anything?

Doesn't really solve the problem. What if you spend on your iphone, it runs out of battery, you turn on your PC and then the PC wallet is invalidated because it is not synchronised automatically even when the other device is off?

I generally don't love things which ruin economies.

I found a website which told me to go away, because I use google chrome apparently.

Just curious, I don't need to waste money on drugs over the internet.

It's funny how people are led to love quantitative easing because they can make money on it.

QE is terrible. I hate it despite any money making opportunities.