|
just got mine, they are still working on accounts.
|
|
|
|
|
yup, lots of people hearing/reading about bitcoin and some of them might be interested in the idea.
|
|
|
|
|
any publicity is good, even if negative.
Lots of people will read stuff like that will read it and want to look further into bitcoins.
Thats how I found out about bitcoin.
|
|
|
|
bitcoin is not untraceable. if you think that, you're a tard. no less traceable than a prepaid visa.
How do you track a prepaid visa? Point of sale (kiosk, online, etc.. Unless dealt in person by proxy buyer like a homeless man, etc. in which case untraceable) How do you track someone who spends bitcoins he has just freshly mined? You don't. Only BTC with a history can be traced somewhere. BTC that simply originate from a block and reside in the miner's wallet but have never been moved, have no "identity" nor can it's owner be identified. The owner could even move his wallet in encrypted USB sticks, sell and buy them, and nobody would ever know until they are spent or sent to an exchange, etc. Its only untraceable if you are encrypting everything, using proxy etc. and spending bitcoins for products that are untraceable (ie. doing a person to person sale). In other words, you have to be pretty technical savvy to make it untraceable, something which the average joe does not have. |
|
|
|
I think it's a good idea, since the US government is planning to outlaw "over the counter" gold trading.
No shit? Really? I've never been in USA, but from what I read, it seems to me that it's more totalitarian than China. Funny you say that. China is turning more capitalist while USA is turning socialist. Ridiculous. Its no surprise that the usa is in the condition it is in. Massive debt, huge trade deficits. USA is on its death bead, an economy in decline. |
|
|
|
I really liked Bill Still's original documentary, The Money Masters, and Secret of Oz is pretty similar to it if a bit more condensed. I really enjoyed the history lesson on money and banking and the rise of central banking. After I really started learning about economics though, looking back on his solutions to the problem, I don't agree with what he proposes. I guess he takes sort of a constitutionalist approach that all money should be issued by the government, not a pseudo private central bank. He is definitely against the "free market" competing for the best currency, and he believes that our current system is a product of the free market.
Yup, I agree. Its the best documentary I could find. Don't know any documentaries that say, "the fed is corrupt, use bitcoins." |
|
|
|
The Fed already returns its benefits to the Treasury. So when the Fed monetizes government debt is roughtly equivalent to the government printing money. We are already more or less in the system the movie demands.
Would be true if the fed issued money at 0%. Thats not the case. No. The interest payed for the bonds are benefits of the Fed. Those benefits are returned weekly to the government. Its like they are not payed. Look this has been discussed in this forum, and I really dont want to go through the same again. The videos are very well done, but what they explain is false. The guy is a nutjob that does a disservice to the people, like me, who want to end the Fed. Wait, so the interest the fed gets from bonds is returned to the government?  ? Wow, kid, you don't know what you are talking about. Read here: http://en.wikipedia.org/wiki/Federal_Reserve_System#Structure |
|
|
|
A simple e-mail notification when BTC withdrawal address is changed, and lock on withdrawing funds for at least 24 hours after address change, would be nice too (BTCGuild's method)
I'd like to have to have an option of having a code sent to my mobile with a code in it to activate the withdraw. Make the mobile number unchangeable after registration. Only way to change it is when the account has zero balances. Even if the account is hacked, good luck withdrawing. |
|
|
|
|
Encryption as an option in the client is what I would recommend. If you want to encrypt then you can. If not, then you don't have to.
Lets face it, security is a major problem for bitcoin. If bitcoin is to go mainstream then the average joe needs to know that their wallet is secure. Encryption is one way of solving that (even if its a mirage).
The primary value of money is derived from faith in the currency. Faith that it will hold its value and faith that the merchant up the street will accept it.
|
|
|
|
I didnt mean to say gold will become worthless because of bitcoin, or that bitcoin > gold.
(in fact, I still believe it is far less likely that bitcoin will be adopted as a widespread form of payment than gold will "fall off a cliff")
I just dont see the rivalry. one has nothing to do with the other, gold wont be used for trade again.
You have to understand there is a major correlation. The reason gold trades at the value it does is primarily because people place a value on it. In most parts of the world gold is the symbol of wealth and money. It is the stuff of kings and empires. There is a huge value being placed on gold for those qualities. BUT that value ONLY exists if people think that gold = wealth. If that idea is ever lost, then gold will be like just any other metal and will trade primarily at the value placed on it by industrial consumers. I understand that. I don't understand how that contradicts anything I've said? I was explaining why goldbugs fear bitcoin. Most goldbugs believe that gold is money and will eventually be used as money again. Thats why they hate bitcoin. If the dollar collapses and people start to use bitcoin instead of gold, there goes their big plan of gold going up 10,000,000%. But of course many libertarians (such as myself) see bitcoin as just another currency and yes I agree with you that gold and bitcoin can compliment each other (but I prefer to hold silver, myself). |
|
|
|
Yes, I think the biggest fear they have is the fact that gold has been used as money for centuries. With that being said, gold gains a significant increase in value. Also for centuries mankind has used gold to show off wealth in the form of jewelry. The other major use of gold is to produce coins or bars which is obviously used for investing. The reason people invest it/hoard it is simply because at one point it was used as money.
If this idea that gold is money is ever put at jeopardy then guess what happens to the value of gold? Falls off a cliff. Bitcoin puts seep competition against gold because lets face it, bitcoins are finite, difficult to obtain, and easier to transfer than gold.
Just to put it into perspective: Bitcoin is the cubic zirconia of the diamond industry. Why buy a real diamond when you can buy a zirconia diamond at a fraction of the cost?
The only real uses for gold are in the dental industry, electronics industry and scientific industry which only consume about 10% of the mined production. The rest goes into investments or jewelry. Most of the world entire history of mined gold is still in existence (ie. not thrown away). This is because most of it is recycled.
I didnt mean to say gold will become worthless because of bitcoin, or that bitcoin > gold. (in fact, I still believe it is far less likely that bitcoin will be adopted as a widespread form of payment than gold will "fall off a cliff") I just dont see the rivalry. one has nothing to do with the other, gold wont be used for trade again. You have to understand there is a major correlation. The reason gold trades at the value it does is primarily because people place a value on it. In most parts of the world gold is the symbol of wealth and money. It is the stuff of kings and empires. There is a huge value being placed on gold for those qualities. BUT that value ONLY exists if people think that gold = wealth. If that idea is ever lost, then gold will be like just any other metal and will trade primarily at the value placed on it by industrial consumers. |
|
|
|
Well, I’m not surprised the U.S. government should take such action. If this happens, will the US government attack Europe and arrest everyone using bitcoin here?  US is not the world  Should be interesting to see how that unfolds since bitcoin is impossible to stop just like torrents or wikileaks. If you ban bitcoins in the us then you can still use them in other parts of the world. Many people think that the us government can just write a law and shut down bitcoin network or something, as if there is one central server controlling the whole network. In many parts of the world, the government has alot bigger issue to worry about than some kids using bitcoins. Also, lets face the fact that some countries stand to gain if btc is widely used. |
|
|
|
gold is backed by thousands of years of history. Also, gold has some qualities that Bitcoin does not have. On the other hand, Bitcoin does have some qualities gold ddoes not have. They are complementary. right. I dont understand the negative reaction towards bitcoins by some goldbugs either. the only chance gold will ever be used for trade again is by receipts issued by a central authority. we've been there before. no authority can be trusted to not issue more receipts than gold was deposited. libertarian goldbugs should welcome it anyway as one competing currency among many. Yes, I think the biggest fear they have is the fact that gold has been used as money for centuries. With that being said, gold gains a significant increase in value. Also for centuries mankind has used gold to show off wealth in the form of jewelry. The other major use of gold is to produce coins or bars which is obviously used for investing. The reason people invest it/hoard it is simply because at one point it was used as money. If this idea that gold is money is ever put at jeopardy then guess what happens to the value of gold? Falls off a cliff. Bitcoin puts seep competition against gold because lets face it, bitcoins are finite, difficult to obtain, and easier to transfer than gold. Just to put it into perspective: Bitcoin is the cubic zirconia of the diamond industry. Why buy a real diamond when you can buy a zirconia diamond at a fraction of the cost? The only real uses for gold are in the dental industry, electronics industry and scientific industry which only consume about 10% of the mined production. The rest goes into investments or jewelry. Most of the world entire history of mined gold is still in existence (ie. not thrown away). This is because most of it is recycled. |
|
|
|
The movie is very misleading, has big errors, just like the previous one from the same guy.
Yes its not perfect but I use that documentary because its pretty much the only one which says that the power to print money should be returned to the us treasury. Most of the other documentaries basically say we should use gold and silver which for our modern digital/global economy is not suitable. The Fed already returns its benefits to the Treasury. So when the Fed monetizes government debt is roughtly equivalent to the government printing money. We are already more or less in the system the movie demands. Would be true if the fed issued money at 0%. Thats not the case. |
|
|
|
guess what they use to buy bread.
hint: it's not bitcoins.
its gold or barter. However, you have to realize that the Zimbabwe dollar collapsed in 2009 (went to 0). Bitcoin was in its infancy during that time. When the next hyperinflation occurs in the USA or europe then bitcoin will gain a strong foothold over the currency markets. |
|
|
|
The movie is very misleading, has big errors, just like the previous one from the same guy.
Yes its not perfect but I use that documentary because its pretty much the only one which says that the power to print money should be returned to the us treasury. Most of the other documentaries basically say we should use gold and silver which for our modern digital/global economy is not suitable. |
|
|
|
Very interesting documentary here. Its basically about how our monetary system is corrupt and needs to be reformed. Pretty interesting documentary to watch and thinking of bitcoin as an alternative to this corrupt system. Its a long documentary (2hours) but well worth the watch if you haven't seen it. Here is the trailer: http://www.youtube.com/watch?v=6cq9yEVcGIUand the full movie (free): http://www.youtube.com/watch?v=swkq2E8mswIThe central theme is to move the power to print the money from the private fed and return it to the US treasury. This would create debt free money. Now here is the kicker: Now that we have bitcoin. Do we even need the government or fed to control the issuing of the money? Absolutely not. We have bitcoin, where the algorithm has already been created and controls the printing of the money. By using your bitcoin client you are agreeing to the accept the code/rules of the system. We have all agreed that 21 million bitcions being generated over a geometric series is the most effective way to generate new money. Now the people (users of bitcoin) control the printing of the money. The power to print money has been moved from the feds and government and into the hands of the people. This idea is huge and could change the world. |
|
|
|
|
We already live in a resource based economy.
The major problem we have is the fact that the monetary system is transferring wealth from the bottom to the top. With each new dollar that is printed a little bit of your current dollars goes down in value. The wealth is transferred to bankers and Washington (who gets to spend the new dollars first).
With bitcoin this does not occur. Rather the money supply inflates very quickly early on but slows down over time. Eventually it gets to the point where the increase in new money being created is marginal and results in little or no inflation. The power to print money is returned to the people who ought to be the rightful owners of it. Bitcoin is the currency of the people.
Thomas Jefferson said in 1802:
'I believe that banking institutions are more dangerous to our liberties than standing armies.
If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered.'
What he is referring to is that the power of the printing press allows banks to create artificial booms and bust cycles. When you want to create a boom cycle you simply start printing lots of money, which the banks lend. This creates easy/cheap credit which businesses and individuals borrow. This also creates an artificial boom in the stock market/asset prices. When you want to create the bust you simply stop printing money or reduce the rate at which you print. This makes it difficult for people to repay their loans. As a result they default. When people start defaulting it sends panic in the market and you get a bust. It is at this very moment that banks will fire up the printing press once again and buy up large amounts of assets for cheap. This is what occurred in the great depression and the more recent 2006 housing bust.
There is also the problem of interest. All money put in circulation has been done so by borrowing it at interest from the fed. It is impossible to repay 14.5 trillion in loans from the fed if there is only 14 trillion total money supply.
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a moneyed aristocracy that has set the government at defiance. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." Thomas Jefferson
When you use bitcoins rather than fiat currency you are returning the power of money back to the people.
|
|
|
|
|
Interested too but I live in Orange county, bummer. Santa monica is 50 miles away from me =(
None the less I think meeting up is a great way to get this movement going since its way easier to use btc face to face if both persons have a cell phone with a bitcoin app on it.
If anyone wants to do a meetup in orange county, would love to join.
|
|
|
|
|
Show Posts
