Anyone who likes Banksy should check out this awesome film:

http://www.banksyfilm.com/

It is disinformation that governments would suffer in a Bitcoin economy.

Governments will still raise tax revenue but the emphasis would move from income tax to asset and sales taxes. They would have to live within their means, but this will actually benefit them in the long run. Governments that live perpetually beyond their means eventually undergo systemic failure. There are countless examples. In Western countries it is a bloated welfare/entitlement state and participation in non-defense wars of choice which wreck government finances. Without printable fiat the electorate would fully understand that governments could only offer welfare which is affordable and participate in wars which are truly matters of defense.

Interesting. That rich address has virtually nothing left...

http://blockchain.info/address/1DkyBEKt5S2GDtv7aQw6rQepAvnsRyHoYM

Total Received   613,326.50837888 BTC   

Final Balance   0.19106797 BTC

Smoothie, I think you mean 2014 after dec

 November 2013
 December 2013
 January 2013
 February 2013
 After February 2013

Inflation rate.

I think that is the critical factor. Argentina has an inflation rate of between 20% and 40% per annum. Economists get prosecuted if they try to report a correct figure. When people lose trust in their national currency and velocity is increasing then Bitcoin usage will climb fast. There has not been a full-blown hyperinflation while a viable cryptocurrency exists. Bitcoin needs more development and no fiat is on its deathbed yet. But the time is approaching when both events come together.

Yes. And I enjoyed wallowing in it.  


Correct.

One point which they did not highlight enough is that because cryptocurrency is software it is much harder for altcoins to displace bitcoin, which is very different from competing manufactured products.

Consider supercoin which has some radically better features than Bitcoin. Because Bitcoin has over $1bn riding on its success there is a significant investment by all the people who use it, own it, mine it, and otherwise profit from the ecosystem. So there would be huge incentive for Bitcoin dev to clone the software changes which make supercoin so super, even if it means a hard fork. Such a hard fork would be tolerated as all bitcoiners want to protect their own interests. As soon as these features are released in a new bitcoin version, then supercoin becomes irrelevant.

Whooo hoo - genius in action. Give the man a cigar. I want this on a T-shirt!

Professor James Angel explains: "Bitcoins are a string of numbers…these numbers can be used to make payment."

it was under your shoe..

People need to stop repeating that the Fed is a private company. It is just another government department, like the hundreds of others which are semi-autonomous.

It pays 100% of its profits to the US Treasury.
http://www.huffingtonpost.com/2013/03/15/federal-reserve-record-profit_n_2884366.html

In January 2011 the Fed amended its accounting practices so that it can never become bankrupt. 100% of its losses will get dumped onto the US treasury as well. Losses which will occur on its long bond exit strategy.
http://www.zerohedge.com/article/creative-accounting-makes-fed-insolvency-impossible

Andrea Castillo does a superb job giving a live interview about Bitcoin. Knows her subject which makes a change.

Couldn't help thinking that she moonlights on the "Arrow" TV series!

Not unreasonable.

A general rule of thumb is that anything Bitcoin related >12 hours old has probably been seen, posted somewhere on this forum in its own topic or under another, and discussed already.

Both. It wants to know everything.

And the meme lives on! 
RT shows the hyperinflation image this week.

Yes. This is an extremely weak name and clearly experienced branding people have not been engaged to do a proper job. Seems a common failing with many bitcoin startups. Only a few, "BitPay" for example, have a top-notch name.

LOL. No amount of fiat compensates for the personality of a rusty kalashnikov.

30+% premium for mtgoxCAD over cavirtex!

http://bitcoincharts.com/markets/currency/CAD.html

Ironclad proof that CAD is not leaving MtGox.

Have you loaded up using cavirtex yet? Seems like the cheapest coins in the world there...

Income is not profits. $8m in income since April is about $2.5m per month. Be generous and assume 30% is pure profit. $3m seized wipes out several months profit. Painful.

It can't work long-term. The problem is force majeure. Many people are trustworthy for years but they hit problems with personal circumstances, failed business, uninsured accident, ill health, and they default. At some level, even the TBTF banks can be "trusted" until an economic crisis when they become totally untrustworthy. Think of Lehman.

Trust-free money and math-based protocols are the only solution to sound money and stable macro-economics.