CRS REPORT THE THINK TANK OF CONGRESS ON BITCOIN

[adoni]

Any of you bitcoin posers read this

http://fas.org/sgp/crs/misc/R43339.pdf

I've read it a few times.

Best thing in it is what ibitloan found immediately

Think tank dude telling congress

Therefore, the supply of Bitcoins does not depend on the monetary policy of a virtual central
bank. In this regard, although a fiat currency, the Bitcoin system’s operation is similar to the
growth of money under a gold standard

Now the other day some POSER in here was saying over and over bitcoin isn't fiat

haha

MORON

any currency with NO INTRINSIC VALUE Is fiat, it doesn't need a government to create it, the community can create a fiat system, bitcoin is latest community example, they used to do it with sticks, and beads and shells too.

Fiat is what you gonna give the tree climber to climb the tree to get the coconut for you besides your daughter or wife

haha

shells
beads
sticks
now bitcoin

MADE UP VALUE SYSTEM
no intrinsic value

sure govs do it all the time, but communities do too

go to your local strip club

use your credit card to buy their CLUB DOLLARS

now you got club fiat currency you can buy a stripper with

soon it will be bitcoin in most strip clubs

haha

PS 20 pages of big words single spaced

Like the IQ here can handle that, maybe like bitcoin .01% of the users/world

haha

yeah sure

currency velocity

that's gonna lose 99.99% of bct for sure

[banque]

good one ADonI

the most important doc there is on bitcoin since CRS makes POLICY for usa

good news is the morons in the tank have no clue about the currency velocity found by ADONI in the www.bitcoinalgorithm.com

If CRS had that info, the reporst would be all about STOP IT NOW BEFORE IT CONSUMES GWP

So that CRS report shows DC is sleeping oh it's a nice

.01% of 7 Billion is a NICHE Currency 700K core users

.1% is 7M users and 5k bitcoin and the BTC Algo says that's within the end of 2014, that's the currencies demand velocity

then bank it's 1% or 70M and 50K a coin

then it's 10% or 700M and 500K a coin and as big as visa/mc/amex put together

so as usually the MORONS at CRS are clueless they don't see the tenfold growth curve that is PROVE at www.BitcoinAlgorithm.com

So CRS read the book and then change your report KILL BTC NOW or there is no other currency in three more jumps of user base

no one has ever seen a speed of velocity on currency like bitcoin, NO ONE

so three more tenfold jumps and we have btc equaling all credit cards and value of 500K

so anyone read this CRS report?

next required reading

www.BitcoinAlgorithm.com

IT HAS THAT REPORT IN IT AND SHOWS THE ERRORS OF THE CRS

[Ibitcoinloan]

CRS is the think tank that creates US policy

You need to read the crs report

Lucky for btc they dont understand the currency volocity in the btc algorithm by sol

If they knew it was following a tenfold growth curve

The report would be

Danger will robinson

Danger danger

[franky1]

adoni, you are a fool.

im sorry but i have watched you log out then your sock puppet log in, reply and log out, then guess what your other sockpuppet logged in and replied and then logged out.. seriously stop talking to yourself to appear what you have to say is correct.

FIAT cant be made by random people, otherwise many things would be a fiat. FIAT does not mean currency. currency can be anything used as a bartering tool.. ANYTHING, but fiat is a subset.. a sub category of currency. which has been authorized by a higher authority.

for instance your middle ages sticks and sea shells. the sticks were authorized by kings. the seashells were authorized by the village elders.. research it. now if a farmer swapped his wheat with the blacksmith to repair the farmers horse's shoe, and the farmer swapped his wheat with the butcher for some beef. this is not fiat. even if the whole village receives wheat for whatever purpose and swapped it around..

ok so now imagine it wasnt wheat, but the farmer while ploughing the field, found some nice shiny stones. and he said this stone is worth a days worth of labour/material. he isa lowly farmer not the towns king, so even if the peasants traded these stones. the king did not authorise it. again making the stone not a fiat.

a fiat is a decree, a formal declaration, it can't be made by common man who has no authority.(read the dictionary once in a while it will help you)

so if i personally was to say lets start trading bottle caps.. because i have no authority over you, it is not a FIAT.

bitcoin is not a FIAT.. not yet anyway. not unless its given a proper stamp of approval by leaders of your country. bitcoin is at the moment just a asset currency that is bartered between people. though some countries or state authorities are legalising it, which is when it would be considered fiat. (california passed the legislation to legalise it for instance)

look i know your trying to act smart to get people to buy your book. but it seems your lacking a thing called 'enthusiasm' as you do not seem to want to learn something new or do research, instead if someone gives you criticism you do not check out or research the plausibility that your theory may have flaws. but instead you call people morons and stupid..

really.. do some research next time

so lets translate the passage into some correct english

Like the U.S. dollar, the Bitcoin is a fiat currency in that it is not redeemable for some amount of another commodity, such as an ounce of gold. Unlike the dollar, a Bitcoin is not legal tender nor is it backed by any government or any other legal entity, nor is its supply determined by a central bank.

Like the U.S. dollar, the Bitcoin is a fiat asset currency in that it is not redeemable for some amount of another commodity, such as an ounce of gold. Unlike the dollar, a Bitcoin is not legal tender nor is it backed by any government or any other legal entity, nor is its supply determined by a central bank. thus not FIAT, because it lacks decree

[jbreher]

At this point in time, this report is the most important info on btc

CRS is the DC THINK TANK that forms US Policy

And they are clueless in this report

Well, which is it? Is this 'the most important info on BTC', or is it 'clueless'? It can't be both.

And the CRS does not 'form US policy'. It is the Congressional Research Service - it merely provides research and analysis to those that actually do form US policy.

if they had any clue as to the currency velocity of btc,

I don't think 'currency velocity' means what you think it means. In economics, velocity is the number of times a unit of currency exchanges hands in a unit of time.

So have you btc experts read the CRS report?

I'm no particular 'BTC expert', but yes, I have read it. It is a fairly truthful report. Most of its inaccuracies are due to simplifications in the interest of brevity. Though there are a few actual falsehoods therein, such as:

• the claim that bitcoin is fiat, where economists are nearly unanimous in the understanding that fiat is issued in unlimited quantity by governmental agencies
• "As recently as December 2013, with Bitcoin exchanging at near $1,100, the market capitalization was above $140 billion."

The question on my mind is... If you think this report is written by "morons with no clue", then why would you think anyone should bother reading it?

It's great news the morons have no clue as to the growth velocity of the BITCOIN ALGORITHM as explained in
www.BitcoinAlgorith.com

[sic] umm.... Yeeeaaaahhhhh... About that algorithm... There is nothing I see on that website that persuades me that purchasing this 'book' would be anything but a complete waste of my money.

AMAZING
Not one remark on the remarkable info in www.BitcoinAlgorithm.com by anyone but adoni guys
AMAZING

Doesn't seem amazing to me at all. For the writing style, it would appear that all these 'adoni guys' spend almost all their waking hours huddled together in the same basement, if not just being your sock puppets.

[LiteCoinGuy]

hmmm haha?

[franky1]

Doesn't seem amazing to me at all. For the writing style, it would appear that all these 'adoni guys' spend almost all their waking hours huddled together in the same basement, if not just being your sock puppets.

lol adoni made a massive admission of sockpuppetry

https://bitcointalk.org/index.php?topic=703703.msg8050685#msg8050685

the OP adoni username.. then later amessage from 'banque' thanking people for bumping HIS thread.

and with the moron this moron that, he is obviously a teenager. not a Dr

[btmtb]

Doesn't seem amazing to me at all. For the writing style, it would appear that all these 'adoni guys' spend almost all their waking hours huddled together in the same basement, if not just being your sock puppets.

lol adoni made a massive admission of sockpuppetry

https://bitcointalk.org/index.php?topic=703703.msg8050685#msg8050685

the OP adoni username.. then later amessage from 'banque' thanking people for bumping HIS thread.

and with the moron this moron that, he is obviously a teenager. not a Dr

There's another one here, it seems john patrick ennis forgot he'd logged out of the account he started the argument with and had changed to another, before mentioning his previous post. Genius (I think not). I'm sure he might edit them when he realises, but there's a quote below for ref as it stands atm. I'm not sure it's even worth engaging in a discussion with these sock puppet accounts, he's just spamming his search urls (if you quote his posts in arguments I would go to efforts to delete or redirect his urls if I was you), and trying to inflate his post count on his accounts to try and 'look' more credible.

.....

https://getaddr.bitnodes.io/

7K+ nodes 40%+ in USA
...

...
the site I listed shows 8K live nodes

no one has more

if they know of a site showing more nodes

PLEASE POST

until then I believe what I see
..

To his credit, the other alt account, ibitcoinloan is currently making an effort to try and change his writing style slightly to try and look separate. Just checking their post history though and the number of times they post their own links, including shilling that ridiculous and algorithm book by the imaginary 'Dr' who wont even explain his accredited doctoral credentials.

[NotAtOld]

I read a copy of this paper over the holiday. It's really good, and really worth reading … but I fear that because it comes from CRS, bitcoin community is going to shit all over it out of hand. Please don't.

[r3animation]

I read a copy of this paper over the holiday. It's really good, and really worth reading … but I fear that because it comes from CRS, bitcoin community is going to shit all over it out of hand. Please don't.

No one cares.

[cccarnation]

Hot damn! I've been waiting for the CRS to release this report for years now.
Have no doubt that your local federal representative will be reading this very paper and hopefully learning something for the better.

[tigeRshoes]

I read a copy of this paper over the holiday. It's really good, and really worth reading … but I fear that because it comes from CRS, bitcoin community is going to shit all over it out of hand. Please don't.

Indeed: CRS is an independent agency and not under the thumb of the legislative branch. I've found their reports have always given a detailed and balanced overview of a subject, even when it puts the US in a bad light. Definitely don't ignore it.

[Intaryna]

Hot damn! I've been waiting for the CRS to release this report for years now.
Have no doubt that your local federal representative will be reading this very paper and hopefully learning something for the better.

Fortunately I live in Massachusetts so I have no doubts that our senators will be reading it: congressman, who knows.

[AlPutino]

"Bitcoin market cap exceeds $20 billion"

I guess the people who continually spend more than they have are not so hot at math.

[The00Dustin]

Doesn't seem amazing to me at all. For the writing style, it would appear that all these 'adoni guys' spend almost all their waking hours huddled together in the same basement, if not just being your sock puppets.

lol adoni made a massive admission of sockpuppetry

https://bitcointalk.org/index.php?topic=703703.msg8050685#msg8050685

the OP adoni username.. then later amessage from 'banque' thanking people for bumping HIS thread.

and with the moron this moron that, he is obviously a teenager. not a Dr

<sarcasm>I don't know...  This post makes me think banque might not be as smart as adoni...

Air Travel has been bought with btc for a while

EXPEDIA

Air and Hotel right???

So an individual airline is cool, but not a major event, now if a big carrier took it, that would be a better btc news pop imo

But merchant acceptance isn't the driving force

It's bitcoin users as a percentage of world populaton

</sarcasm>On a separate note, since I'm talking about other threads here for the sake of a good old fashioned derailment...

but this forum is about getting across idea's not peoples ego's so the grammar Nazism is not required

WHY DID YOU CAPITALIZE NAZISM AND WHY DO YOU THINK IM YELLING AT YOU