Offensive anti-Bitcoiner Bill Still just lost a fan

[Bitware]

http://www.youtube.com/watch?v=qDgnu5B1SJM

[Littleshop]

http://www.youtube.com/watch?v=qDgnu5B1SJM

He uses a lot of big words that he himself does not understand. 

[herzmeister]

money has to be plentiful...

yep right. 

helicopter bill 

money will always become scarce because weak hands and strong hands and all... money printing doesn't solve this issue, but rather perpetuates it even more. The rich can also flee into hard assets from inflating money supply.

i think what people like Keynes and Bill Still are really looking for with "plentiful" is this: even if a fixed monetary supply like a gold backed currency or Bitcoin causes liquidity shortages and crises, the solution is not to print money and pour it into wall street hoping it would trickle down. The correct solution is to let people create ad-hoc liquidity from the bottom up, i.e. let them print their own money, issue their own promises. Good tools for that like Ripple exist already as well.

[bitcoiner32]

Bill Still has done a lot to expose some of the problems with fiat money but he is a "Greenbacker" and thinks the answer to fiat money problems is just a different kind of fiat money.

Tom Woods just wrote a nice refutation of some of the greenbackers main theses:

The point of this discussion is to refute the principal falsehoods that circulate among Greenbackers: (a) that a gold standard (either 100 percent reserve or fractional reserve) or the Federal Reserve’s fiat money system yields an outcome in which outstanding loans cannot all be paid because there is “not enough money” to pay both the principal and the interest; (b) that if the banks are allowed to issue loans at interest they will eventually wind up with all the money; and that the only alternative is “debt-free” fiat paper money issued by government.



http://www.tomwoods.com/paper/

[Bitware]

I will not deny that a nation taking charge of its money is better than a private cabal of international bankers running the show.

[Stephen Gornick]

http://www.youtube.com/watch?v=qDgnu5B1SJM

He uses a lot of big words that he himself does not understand. 

Nor can anyone else understand it.

"This is the only way we can beat [the money masters is] for each of us contribute a little bit now. You can make a lot of money trading in bitcoins, but ultimately will that satisfy you in the end when in so doing you are neglecting the real source of human political freedom?"

           

[Mike Christ]

"This is the only way we can beat [the money masters is] for each of us contribute a little bit now. You can make a lot of money trading in bitcoins, but ultimately will that satisfy you in the end when in so doing you are neglecting the real source of human political freedom?"

           

Just hope he never writes.  That editor is in for a nightmare.

[Anon136]

I will not deny that a nation taking charge of its money is better than a private cabal of international bankers running the show.

idk, thugs who get their power from armed robbery seem worse than thugs who get their power from fraud. Thats just my BTC0.02

[Bitware]

I will not deny that a nation taking charge of its money is better than a private cabal of international bankers running the show.

idk, thugs who get their power from armed robbery seem worse than thugs who get their power from fraud. Thats just my BTC0.02

If I had to choose between government and bankers or just government to deal with, I would choose just government.

[molecular]

Is this religiously motivated somehow? What's with all the "being a servant"?

[Anon136]

I will not deny that a nation taking charge of its money is better than a private cabal of international bankers running the show.

idk, thugs who get their power from armed robbery seem worse than thugs who get their power from fraud. Thats just my BTC0.02

If I had to choose between government and bankers or just government to deal with, I would choose just government.

o sure i agree with that. Would i rather be kicked in the gut by one guy or two guys is a different question from whether or not i would rather be kicked in the gut by criminal a or criminal b. I apologize if i mistook your meaning.

[mai77]

Still still rocks.

overall he has a point, but for the moment we cannot let go of bitcoin.

[Kazu]

When I first read the title I thought it had to do with an offensive anti-bitcoiner bill that just passed or something.

[molecular]

I will not deny that a nation taking charge of its money is better than a private cabal of international bankers running the show.

I'm not so sure. Obviously the banking cabal are quite a bad thing, but at least with the current system, politicians are forced by central banks into at least some fiscal responsibility. If they can just print up the money themselves with no restriction, that could lead to even more massive hidden taxation aka inflation. Imagine: a polititian could simply say: "when I'm elected, I will print 10 times as much money as we already have and give everyone the same amount". Then everyone with below average wealth (probably 95% of the population) will vote for him. If you redistribute all the money every year then it ceases to be useful as it will be quite worthless and everyone will be forced to use silver, cigarettes or bitcoin as medium of exchange and store-of-wealth.

We can't trust the central bankers to responsibly manage our money supply. We can't trust the politicians either.

[myrkul]

...everyone will be forced to use silver, cigarettes or bitcoin as medium of exchange and store-of-wealth.

The sooner this happens, the better, IMO.

[Mike Christ]

...everyone will be forced to use silver, cigarettes or bitcoin as medium of exchange and store-of-wealth.

The sooner this happens, the better, IMO.

[molecular]

...everyone will be forced to use silver, cigarettes or bitcoin as medium of exchange and store-of-wealth.

The sooner this happens, the better, IMO.

In that sense I can agree.

[Stephen Gornick]

If I had to choose between government and bankers or just government to deal with, I would choose just government.

You would, if given the choice, prefer to have the person show up at your door be the person with a gun who feels authorized to enter your premsises possibly with not even knocking (or knocking first, but entering either way, regardless of your instruction?)

[haitispaceagency]

whys everyone so anti government here

[myrkul]

whys everyone so anti government here

Bitcoin is inherently counter-State.
http://falkvinge.net/2013/04/03/why-bitcoin-is-poised-to-change-society-much-more-than-the-internet-did