proudhon
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Activity: 2198
Merit: 1311
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June 19, 2011, 04:31:23 AM |
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http://www.washingtonpost.com/business/technology/is-the-world-crazy-for-bitcoin-or-has-the-bitcoin-world-gone-crazy/2011/06/18/AGaX3NaH_story.htmlSummary: Something like bitcoin is a great idea and will probably succeed in the future, but bitcoin (the current iteration) will fail because I found out about it too late to have invested a tiny amount of money for an enormous return (and I'm sour about that); but now that I know about the idea of bitcoin I will be sure to be on the look-out for the next bitcoin, and I will adopt that version early, and, therefore, it will succeed.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Remember that Bitcoin is still beta software. Don't put all of your money into BTC!
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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Nescio
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June 19, 2011, 11:13:21 AM |
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I did some research into the claims made by that article. If you read the actual text of the act, it only outlaws the trading of commodities on margin by unlicensed brokers. That's a far cry from the headline's claim. This won't affect most of us, it seems, and it certainly won't affect the gold and silver bugs with their vaults full of precious metals. It does basically prohibit trading for the average Joe. You need to take an exam and have a net worth of over $1 million (excluding primary residence) or make $200k a year. Someone very astutely commented: "the modern control matrix of prohibiting something is to leave it technically legal, thereby diffusing anti-tyranny opposition, but bury the actual activity in so many regulations, fees, and licenses, as to make it virtually impossible for a person of average means, knowledge, motivation, and connections, to conduct it with any level of enjoyment, profit margin, or benefits." |
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shady financier
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etcetera
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June 19, 2011, 11:36:31 AM |
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I did some research into the claims made by that article. If you read the actual text of the act, it only outlaws the trading of commodities on margin by unlicensed brokers. That's a far cry from the headline's claim. This won't affect most of us, it seems, and it certainly won't affect the gold and silver bugs with their vaults full of precious metals. It does basically prohibit trading for the average Joe. You need to take an exam and have a net worth of over $1 million (excluding primary residence) or make $200k a year. Someone very astutely commented: "the modern control matrix of prohibiting something is to leave it technically legal, thereby diffusing anti-tyranny opposition, but bury the actual activity in so many regulations, fees, and licenses, as to make it virtually impossible for a person of average means, knowledge, motivation, and connections, to conduct it with any level of enjoyment, profit margin, or benefits." Why can't they do that with hard drugs then, instead of arresting hundreds of thousands of mostly harmless people and screwing up Mexico, Colombia and Afghanistan.  Undercut the Barons, Legalize (and Bureaucratize) All Drugs Today! threadjack over. |
1G8AUgSTAw8hfatNnDHuYEqBAUzC3qvAAL Bitcoin news: http://thebitcoinsun.com/Rapidlybuybitcoin here.The value of goods, expressed in money, is called “price”, while the value of money, expressed in goods, is called “value”. C. Quigley |
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Bezza
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June 19, 2011, 01:04:42 PM |
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hawks5999
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June 19, 2011, 04:30:00 PM |
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FOFOA comes to his conclusions in: http://fofoa.blogspot.com/2011/06/bitcoin-open-forum-part-3.htmlI like FOFOA a lot and I think his input is worth consideration. He doesn't seem to be against bitcoin so much as he thinks the world prefers easy money over hard. I don't think that's entirely untrue. |
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terryfkwit
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June 19, 2011, 06:12:26 PM |
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FOFOA is an interesting commentator .... i read his take on silver vs gold and then read the people that ripped it apart. His patter lends the credence of being knowledgeable in some areas which hides the real lack of strength in his arguments .... Yes bitcoin is winning when FOFOA takes time to wax lyrical on it's short comings.. just like physical silver is winning...
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FreeMoney
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Merit: 1014
Strength in numbers
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June 19, 2011, 08:43:20 PM |
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I like FOFOA too. I also get that borrower/spenders like easy money. But they'd probably like to pay with farts too. All that matters is what productive people will accept. They've been accepting a pretty crappy version of money, maybe they'll wise up, I don't know. |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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Gandlaf
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Activity: 59
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June 19, 2011, 11:32:50 PM |
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Nescio
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June 20, 2011, 01:49:29 AM |
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I like how they call Bitcoin a fiat currency  |
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Vladimir
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June 20, 2011, 01:56:11 PM |
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h8ters are having field day on twitter and elsewhere.
This seems as a good time to buy bitcoins for anyone with more than 1 week perspective.
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MoonShadow
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Merit: 1007
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June 20, 2011, 02:28:03 PM |
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I seriously doubt it. The only person that could be is Vladimer, and there is no way he's stupid enough to put this crap into an email to a hater. More likely someone trying to add fuel to the fire and depress the price so that they can buy in. |
"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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MoonShadow
Legendary
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Activity: 1708
Merit: 1007
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June 20, 2011, 02:38:47 PM |
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"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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Vladimir
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June 20, 2011, 03:07:08 PM |
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Bitcoins aren’t secure, as both the recent theft and this password problem show.
Is this dude really that stupid or just a shill? Bitcoin exchange is hacked therefore bitcoin is not secure, published it in Forbes no less. If anything, persistent attempts, whether successful or not, to steal bitcoin demonstrates exactly the opposite i.e. that bitcoins are very valuable. Criminals do not steal worthless stuff. |
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