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3341
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Economy / Speculation / Re: The Collapse of Bitcoin Price and Why You Shouldn't Care
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on: October 07, 2011, 03:02:31 AM
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I think the trouble with some people's understanding of BTC is that they think that a single bitcoin should have inherent value for the currency to have value, just as a gold bar has inherent value. Therefore, they think bitcoin is essentially the same as fiat money. However, the usefulness of bitcoin lies in the system, i.e. its decentralized publicly-monitored transaction system free from the Fed (with excellent confirmation times and very small fees).
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3342
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Economy / Gambling / BITCOINDUIT ---Offline.
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on: October 07, 2011, 12:27:06 AM
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It's been a wonderful 3 months in Ponziland for me. Sadly, Bitcoinduit is clearly dead.
You can look forward to our reopening, when things look brighter for the gambling community, whenever that is.
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3345
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Economy / Speculation / Re: The manipulator is back!!!
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on: October 04, 2011, 07:30:08 PM
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Correct, it is a reflection of overall market balance, which will change big time soon (in a matter of hours, days, or maximum of 3 weeks)
You think btcusd is really going back to $10 again? |
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3356
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Other / Politics & Society / Re: OTRA ECONOMÍA YA EXISTE
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on: October 03, 2011, 04:33:19 AM
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Is socialism even compatible with bitcoins? I doubt it.
It depends. Are we talking about voluntary socialism or coercive socialism? We're talking about Venezuela...  |
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