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Author Topic: How BitCoin Can Benefit The US Government. (add to the list)  (Read 2823 times)
BitterTea
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May 31, 2011, 07:34:36 PM
 #21

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people only invest in so they can get rich quick

This is utter bullshit. Some people may be speculating on a short term increase in exchange rate, but I doubt many.

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can't use to pay their bills

Yet.

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isn't any more anonymous than cash

Cash can't be transmitted digitally.

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and constantly deflates

Nope, the supply of bitcoins is constantly increasing (around 7,200 per day).

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if you actually USE bitcoin to sell products, you have to re-adjust your prices every 2 days because the value changed so much over the last 48 hours

This is only due to the demand for bitcoins outpacing the supply, causing an increase in the exchange rate. The same thing happens in any market that spans more than one currency.

This is only a problem while businesses expenses cannot be paid with bitcoins and/or the demand for coins exceeds the supply. Once both of those conditions are no longer met, the exchange rate will either equilibrate or will no longer be necessary to determine price denominated in BTC.
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Voltius
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May 31, 2011, 08:29:17 PM
 #22

In that case, thank you for replying, you've resorted my faith in Bitcoin.
michaelmclees
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May 31, 2011, 11:58:55 PM
 #23

The government will be many years behind Bitcoin.  However, why can't they simply start mining for themselves?  Over time, they can simply process transaction fees, when means they will essentially be collecting taxes on transactions.
marcus_of_augustus
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June 01, 2011, 03:14:41 AM
 #24


Bitcoin will benefit the US government by collapsing it into a steaming heap of rubbish, ready to go into the landfill of history.

em3rgentOrdr
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June 01, 2011, 01:58:13 PM
 #25


Bitcoin will benefit the US government by collapsing it into a steaming heap of rubbish, ready to go into the landfill of history.

Umm ...and how does that exactly benefit the US?

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
PabloW
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June 01, 2011, 02:01:48 PM
 #26

The question is: why bitcoin should benefit the US government?
BitterTea
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June 01, 2011, 02:32:30 PM
 #27

The question is: why bitcoin should benefit the US government?

What do you mean "why"? Because Bitcoin can be a useful tool, for good and for bad, for individuals and for government agencies.
marcus_of_augustus
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June 01, 2011, 11:24:31 PM
 #28


Bitcoin will benefit the US government by collapsing it into a steaming heap of rubbish, ready to go into the landfill of history.

Umm ...and how does that exactly benefit the US?

more harm than good ... creative destruction.

Sometimes the optimal path (path of least resistance) is the "Reboot" button.

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June 02, 2011, 03:15:47 AM
 #29


Bitcoin will benefit the US government by collapsing it into a steaming heap of rubbish, ready to go into the landfill of history.

Umm ...and how does that exactly benefit the US?

Implying that the US Government is beneficial to the US...
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