According to the article he wants to do both, also it is misleading to say "he" because he actually has approval from the tribe elders according to the article. They don't understand it but trust that he does and trust him to implement it.

The plan is to leverage their status as "domestic dependant (semi)sovereign states" to switch their local economy to using bitcoins instead of dollars.

There has been all this talk about a nation adopting bitcoin as its official currency. It appears the first one to do so would be an inidian reservation

I think he meant encourages with their policy not with their words, the two differ because they are liars

Well, yes, and it is implied by my attack on the principle of the ability to electronically drain the physical coin of the bitcoins.

But I am seeing a plethora of technical issues with such a solution. What happens when the coin breaks? Can you backup the coins the way you do other wallets? Wouldn't backups mean counterfeiting? How could you prevent someone from stealing such a coin by reading the data and then making a duplicate? etc

The mass media press is losing money because it is losing trust. More and more people realize how bad they are at doing their jobs.

They mishandle every story, take the wrong stance on every issue, and can't seem to get into their heads the idea of unbiased reporting of facts. The article even admits they have been unfairly bashing bitcoin

They also seem to be married to obsolete distribution models. Blogs are not necessarily less trustworthy than a printed piece of paper.

As for ad revenue, claiming that its worse for online ads then it was for newspaper ads is ridiculous. Its never been higher as google can attest.

Countries are not in the habit of engaging in foreign currency speculation.
Especially because it doesn't involve any wealth creation, only shuffling between those who bet poorly and those who bet well.


"Trickle down economics" aka "Voodoo Economics" were both terms invented and used by the Bush senior smear campaign when he ran against Reagan.

Oh, you meant the sandy hook thing... has it really only been a few months? time perception is odd like that

Considering the massive cost of car batteries and the fact that every recharge shortens their life, as well as the risk of getting stuck without electricity, I would not allow anyone to charge off of my car even if they paid me. Unless it was an emergency.
And I wouldn't even charge my own stuff off of my car unless unless it was a non electric car and the engine was running

I disagree on this point.

Scenario. Person A gives a coin that says 0.01B to Person B.
Person B transfers the content off of the coin, the coin is now worth 0B.
Person B gives the empty coin to Person C who mistakingly thinks it is worth 0.01B because that is what the coin SAYS.

If person C has the tools needed to verify the value of the coin (a cell phone with the right software) then he has the tools to perform a direct software transfer. And in fact such a transfer would be easier!

The only possible way for a coin to be worthwhile is the coin itself has a value. This means either a government declaring it fiat, or it is made out of precious metal (ex, gold). However putting a 1B logo on your gold coin is misinforming and disingenuous because the gold to bitcoin conversion ratio fluctuates

PS. The coin in question is 1BTC... thats a 1000$ coin. I can't just hand those out to people like the OP describe nor can I buy something with it.

I didn't get out much and I think I might have missed that whole case. What happened a few months ago?

This is actually plausible

Well put.

You are missing the point entirely.

The guy argued the semantics of the term investment. Arguing that currency speculation should not be called an investment but be called currency speculation, nothing more nothing less.

Since we are talking US specific tyranny.

Fourth amendment is becoming an issue with the NSA spying. A judge has struck down NSA spying on fourth amendment basis, (while also putting his own decision on hold pending appeal review at a higher court due to its magnitude.)

Meanwhile Senator Dianne Feinstein (D-CA) has sponsored a bill that would legalize NSA spying on everyone and everything

And tyranny has long been allergic to the 9th and 10th amendment and has long ago rendered it null.

The fifth amendment was violated repeatedly to take down megaupload, it was violated repeatedly to take down egold and the 2 other gold based alternative currencies at the time. And then there are cases with government whistleblows where due process is thrown to the wind and many others

The 8th amendment has been crapped on by the MAFIAA and their cronies.

don't forget the "according to some randome keynisian who used to work as chief IT of a insignificantly small bank which has no brick and mortar experience"

I don't understand all the venom thrown at the op.

He made a clear argument that bitcoin is a currency, and you can get rich speculating on a currency, such speculation is gambling rather then an investment. That speculation in of itself does not produce wealth, only transfer wealth from those who bet correctly to those who bet wrongly (just using dollars because "everyone is" is still betting, you are speculating on dollars)

He didn't even argue that people shouldn't gamble on bitcoin being a success. only that such an act should be called "currency speculation" and not "investing".

And people are attacking him personally arguing that he is attacking bitcoin. Even though he is clearly a supporter of it.

Either that or you install it in your car, then a stranger can charge his phone at your car if he sends you bitcoins for it by scanning the QR code with your wallet's address which you glue near the external port on your car.

Both sound kinda bad

Also, DRM in a car? ugh, disgusting. thanks for the link

Online banking service... isn't that one of those tiny banks that can't afford an actual brick and mortar branch?
Also apparently he was fired. And if I understand the term CTO correctly from wikipedia, it means he was their chief IT, not an actual banker.

During the great depression, the US banned trading in gold and silver. Massive amounts of precious metal coins were confiscated and melted down.
Also see egold.
Now look at china and russia.

He is a banker? I was wondering who that mouthbreather was.

You are welcome. It is a useful episode, perfectly accurate.

I didn't have their figures but when friends and family tried to get me into various network marketing schemes before I had heard of them I sat down, did the math, and saw them for the scams they are... meant to exploit the so called "sellers". You can either lose money as a seller of product, lose money by exploiting new "sellers", or make money by exploiting "sellers" (not the customers, the sellers).

A shame so many people are bad at math