2013-04-12 Bitcoins are unconstitutional

[vvic]

This is THE MOST AMAZING bashing ever 
http://video.cnbc.com/gallery/?video=3000161076&play=1
Bitcoins go against everything we beleive in. Like central banking system. What if I don't believe in such system?
CNBC is doesn't really bash bitcoins like other channels, but heck, they sure find the most amazing guests to talk about them

[empoweoqwj]

I've seen two articles on cnbc.com just in the last couple of weeks that bashed bitcoins completely:

1) The one from last week was it with headline "bitcoin hacked" - the "journalist" later retracted that headline to "major bitcoin exchange hacked" when I pointed out the truth to him. But even his amended headline was completely wrong. MtGox had many issues the last week, but it wasn't hacked.
2) Another one from later last week saying "Bitcoin Is Good 'for Narco Traffickers" - enough said.

Same "journalist" funnily enough. I use the term "journalist" is the lightest possible sense.

[cypherdoc]

Typical blonde argument:

'It's gonna get hacked, I just know it, I just know it!!! '

[Stephen Gornick]

This is THE MOST AMAZING bashing ever 

From the description:
"bitcoins dropped 270% to a low of just over $54"

How does something drop more than 100%?

[cypherdoc]

I'm actually getting a little tired of nick colas not getting his arguments in order.

[krncoolwater]

This is THE MOST AMAZING bashing ever 
http://video.cnbc.com/gallery/?video=3000161076&play=1
Bitcoins go against everything we beleive in. Like central banking system. What if I don't believe in such system?
CNBC is doesn't really bash bitcoins like other channels, but heck, they sure find the most amazing guests to talk about them

LOL, WTH??  Everyday the bought and paid for lame stream media is getting more and more irrelevant...

[Gabi]

And they are paid to spit such bullshit 

[noedaRDH]

Maria is Satan's wife.

[ShadowOfHarbringer]

And they are paid to spit such bullshit 

Of course they are. In politics & media, somebody is almost always paid to say something.

[StarfishPrime]

The best part is where Nick Colas replies that getting paid in bitcoins would actually have been a pretty good deal so far.

[grondilu]

The blonde girl says that she would not like to hold bitcoins because they are not insured.  There is nothing preventing an insurance company from offering an insurance for bitcoin holdings.  There is nothing preventing a bank from holding her bitcoins and be regulated in exactly the same way as it currently is when holding US dollars.  All of these are merely a matter of laws and insurance services.  It's just a decision that can be taken, or not.

So what I mean is that those concerns are not idiosynchratic to bitcoin.   Pretty much everything the current banking system does, bitcoin could do it as well, except letting a minority of people secretly mess around with the total amount of money in circulation.

[cypherdoc]

The blonde girl says that she would not like to hold bitcoins because they are not insured.  There is nothing preventing an insurance company from offering an insurance for bitcoin holdings.  There is nothing preventing a bank from holding her bitcoins and be regulated in exactly the same way as it currently is when holding US dollars.  All of these are merely a matter of laws and insurance services.  It's just a decision that can be taken, or not.

So what I mean is that those concerns are not idiosynchratic to bitcoin.   Pretty much everything the current banking system does, bitcoin could do it as well, except letting a minority of people secretly mess around with the total amount of money in circulation.

as the financial CEO of an investment company i'm sure the insurance she's referring to isn't what you think.

what she's probably referring to is a "put", as in a Greenspan put where speculative losses are always covered. 

[Zomdifros]

I think Nick Colas did a great job on this interview, giving all the right answers at the right moment. Bitcoin owes a lot to him.

[paraipan]

I think Nick Colas did a great job on this interview, giving all the right answers at the right moment. Bitcoin owes a lot to him.

+1

[ElectricMucus]

Where's the problem?

All the time you asked for the establishment to crack down on us, now that is finally happening you are getting fizzles?

cheap coins ahead!

[marcus_of_augustus]

I highly doubt that the airhead that raised the "unconstitutional" argument has ever read the Constitution. For one, the point is nonsensical in that context and secondly that she doesn't strike me as the type that would bother to do such basic due diligence as background reading.

[Orgonix23]

The mainstream media has been given its marching orders by its corporate overlords, and that is "Bitcoin is to be discredited by any means necessary."
The reason for this is obvious of course.

[benjamindees]

I think Nick Colas did a great job on this interview, giving all the right answers at the right moment. Bitcoin owes a lot to him.

+2

[noedaRDH]

"BITCOINS RAPED BY CHILDREN!"
"BITCOIN IS RACIST!"
"BITCOINS ARE THE NEW WMD'S!"

[Mike Christ]

"BITCOINS RAPED BY CHILDREN!"
"BITCOIN IS RACIST!"
"BITCOINS ARE THE NEW WMD'S!"

You forgot the part where only hookers and drugees use it, but I'll forgive you