Bitcoin Forum
December 17, 2017, 12:48:35 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: 2013-01-24 dailyreckoning.com - Bitcoin Bytes Back  (Read 929 times)
Akka
Legendary
*
Offline Offline

Activity: 1162



View Profile
January 25, 2013, 01:13:14 PM
 #1

Quote
Bitcoin Bytes Back

Stocks up. Gold down. Bitcoin…waaay up.

The S&P 500 busted through the 1,500 mark this morning. Stocks haven’t been this expensive since 2007…right before they got a whole lot cheaper…for a whole lot longer. Gold, meanwhile, dipped a tad. This, despite central bankers of the world goading it on, promising to dilute the value of their respective paper currencies against the Midas Metal. Befriend the dips.

And what about bitcoin? Wait…what is bitcoin??

Why, it’s a speculation, of course; a dark horse, beloved by anarchists, ne’er-do-wells and fringe-dwelling lunatics, the kind of people you wouldn’t invite over for tea with your mother-in-law. It is the fascination of the ill-adjusted, the oddly-mannered, the heterodoxical hedonist. Indeed, the very idea of bitcoin, a “decentralized, cyber-crypto currency,” has to it a ring of the unknown…of disruption, rebellion…perhaps even revolution…

In plain English, it’s not to be trusted by members of polite society. And these are just some of the reasons we like it so much!


....

If bitcoin goes to its grave tomorrow – and it may well do so – it will be in service of precisely the point free market enthusiasts have been advocating all along: That it is not for a committee to determine the price of a good (including money itself)…or for a state or a central agency or a law or an edict.

That is for the market to decide. Today, that market says a bitcoin is worth $19. Tomorrow, maybe 19 cents…or $19k. No one body knows…and that’s exactly the point.


Source: http://dailyreckoning.com/bitcoin-bytes-back/

All previous versions of currency will no longer be supported as of this update
1513471715
Hero Member
*
Offline Offline

Posts: 1513471715

View Profile Personal Message (Offline)

Ignore
1513471715
Reply with quote  #2

1513471715
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
grondilu
Legendary
*
Offline Offline

Activity: 1134


View Profile
January 25, 2013, 05:44:51 PM
 #2

Quote
If bitcoin goes to its grave tomorrow – and it may well do so – it will be in service of precisely the point free market enthusiasts have been advocating all along: That it is not for a committee to determine the price of a good (including money itself)…or for a state or a central agency or a law or an edict.

That is for the market to decide. Today, that market says a bitcoin is worth $19. Tomorrow, maybe 19 cents…or $19k. No one body knows…and that’s exactly the point.

Well said.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!