There will be blood.

[Coma]

Will there be blood? A friend of mine says that no turnover of power so huge as the currency change proposed by bitcoin cannot happen witout bloodshed. But there's still no sign of violence on the horizon. I kinda agree with that idea.

What do you guys think?

[Anonymous]

Yeah, the central bankers slitting their wrists after realizing they can't fight a virtual army behind 9001 proxies.

[655321]

I drank your milkshake!

[Braden]

Will there be blood? A friend of mine says that no turnover of power so huge as the currency change proposed by bitcoin cannot happen witout bloodshed. But there's still no sign of violence on the horizon. I kinda agree with that idea.

What do you guys think?

No, there will not be. Bitcoin could become a major player in online currency exchanges. People who think it will spark a global currency revolution and become the world standard are nuts.

[DamienBlack]

Will there be blood? A friend of mine says that no turnover of power so huge as the currency change proposed by bitcoin cannot happen witout bloodshed. But there's still no sign of violence on the horizon. I kinda agree with that idea.

What do you guys think?

No, there will not be. Bitcoin could become a major player in online currency exchanges. People who think it will spark a global currency revolution and become the world standard are nuts.

^this

Bitcoin will be a success if it captures 10% of online sales and is used heavily in some area that makes sense, like micro-transactions in online games. I don't think the goal of bitcoin is to overthrow the governments of the world. Other people differ on that point.

[Coma]

Will there be blood? A friend of mine says that no turnover of power so huge as the currency change proposed by bitcoin cannot happen witout bloodshed. But there's still no sign of violence on the horizon. I kinda agree with that idea.

What do you guys think?

No, there will not be. Bitcoin could become a major player in online currency exchanges. People who think it will spark a global currency revolution and become the world standard are nuts.

^this

Bitcoin will be a success if it captures 10% of online sales and is used heavily in some area that makes sense, like micro-transactions in online games. I don't think the goal of bitcoin is to overthrow the governments of the world. Other people differ on that point.

Even that 10% of online sales won't be possible without bloodshed. IMHO

And how will that limit be stablished?
I don't understand where will the gentleness come from.

[Braden]

Where would violence come from? Austrian commandos storming the Federal Reserve? A nuclear exchange between Mt.Gox and Paypal?

I don't see it.

[Anonymous]

The parasites can't collect taxes on money they can't see.

[Braden]

Which parasites?

[Anonymous]

Which parasites?

The ones with the monopolies on force.

[Braden]

Which parasites?

The ones with the monopolies on force.

I am not aware of any entities that have a monopoly on force.

[Anonymous]

Which parasites?

The ones with the monopolies on force.

I am not aware of any entities that have a monopoly on force.

Let's see what happens when you try to start your own security force and claim sovereignty over your property, land and person.

[Braden]

Which parasites?

The ones with the monopolies on force.

I am not aware of any entities that have a monopoly on force.

Let's see what happens when you try to start your own security force and claim sovereignty over your property, land and person.

According to the UN, at least 192 groups have successfully done that.

[DamienBlack]

The parasites can't collect taxes on money they can't see.

You read a lot of Ayn Rand, don't you?

[Anonymous]

The parasites can't collect taxes on money they can't see.

You read a lot of Ayn Rand, don't you?

Meh. I can respect some of her positions but mostly she was an overly-pragmatic, pompous bitch.

[Anonymous]

Which parasites?

The ones with the monopolies on force.

I am not aware of any entities that have a monopoly on force.

Let's see what happens when you try to start your own security force and claim sovereignty over your property, land and person.

According to the UN, at least 192 groups have successfully done that.

Nearly all owned by the central banks.

[bittersweet]

According to the UN, at least 192 groups have successfully done that.

No. They started a security force and claimed sovereignty over property and land of other people.

[Coma]

According to the UN, at least 192 groups have successfully done that.

No. They started a security force and claimed sovereignty over property and land of other people.

+1

Where would violence come from? Austrian commandos storming the Federal Reserve? A nuclear exchange between Mt.Gox and Paypal?

I don't see it.

The simplest most basic scenario I can imagine is employees fired due to obsolescence of their work power.

Other case scenario might be that massive ammounts of people start saving in BTC and banks reserves go dry which would obvioously led to bank runs.

Not predicting any of this will happen, just thinking what may happen given proper conditions in a reality not that different of today.

[Braden]

Allow me to go point by point.

1)Governments are parasites:
Government spending is a portion of GDP which means that resources are not destroyed by the government, merely reallocated. Additionally, they address externalities which could not be handled by the private sector. While the proper scope of government can certainly be debated, and I might agree that it is currently too large, to dismiss all governments as parasitic is incredibly ignorant.

2) Governments have a monopoly of force:
There are currently 192 governments, which is no indicative of a monopolistic market. Rather, it in indicative of a competitive market with high entry costs. It is true that a cannot individually enter the "force market". I also cannot build my own cars. This does not mean that car manufacturers are a monopoly.

3) Countries are controlled by central banks:
First off, this isn't true. Second off, who cares?

[RandyMarsh]

If you have a GPU and I have a GPU, and my GPU reaches ACROOOOOOOOOOOOOOOOOOOOOOS the room and starts to mine your coins... I MINE YOUR COINS... I MINE THEM UP!?!