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Author Topic: Investment risks of holding bitcoins  (Read 6327 times)
bitplane
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December 08, 2010, 02:41:24 AM
 #21

Even if you can't transfer bitcoins for tangible goods, you can still use them for services, work and intellectual property. Bitcoin uptake by computer geeks is important here, I can't buy groceries with bitcoin but I might be able to play games, get hosting, programming, artwork, design, music, the written word, photography, advertising and other electronic "goods"
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December 30, 2010, 02:23:33 AM
 #22

Governments really dislike their slaves having any true freedom

If we really want Bitcoin to become popular, perhaps we don't want it to be assocated with this sort of extreme anti-authority viewpoint. Sure, governments are corrupt, but we're not "slaves" and there's no secret plan to take away all our freedom. Sorry to shoot down your conspiracy theory.

Looking forward to quantum computing so we can have qubitcoins.
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December 30, 2010, 02:40:39 AM
 #23


If we really want Bitcoin to become popular, perhaps we don't want it to be assocated with this sort of extreme anti-authority viewpoint. Sure, governments are corrupt, but we're not "slaves" and there's no secret plan to take away all our freedom. Sorry to shoot down your conspiracy theory.

Most people here are either anarchists or libertarians.

It's a natural consequence of a cypherpunk technology to attract antiauthoritarians.

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December 30, 2010, 05:09:05 AM
 #24

In reply to the original question, bitcoins will have value as long as people are willing to trade goods and services for bitcoins. Currently there are some currency exchanges where you can measure bitcoins value against the dollar. So that now 1000BTC is roughly $250. But you shouldn't think only in terms of exchange rate but in terms of goods.

1000BTC now will buy you, what 9 vibrating dildos at the bitcoinsextoys.com (sorry, just found this). These are just goods, goods and services, and as long as people are accepting them then they are worth something.

As for bitcoin being banned, I think that we will have an early trial by fire as it begins to be used in China. This is a totalitarian regime, all currencies are banned except those specifically allowed (Reminbi, or peoples money, also called the Yuan). All activity here involving bitcoin it illegal; therefor bitcoin and it's markets must develope entirely in the black market.

But despite the government power here many people (especially in tourist areas) accept US$ and I think China was the first place to begin accepting digital money as a form of acceptable currency (QQCoin) until the government banned it(bear in mind that QQCoin was not created to be used as a general currency, nor was it encouraged, but it happened anyway).

I do not know how it will exactly begin here but every step it takes is illegal, and therefor must be survivable.

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December 30, 2010, 11:00:10 PM
 #25

We have at the moment bitcoin exchanges based in the Us, in Europe and in Russia, and more will probably follow.
How the hell they gonna make it illegal worldwide so all those exchanges can be banned?

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December 30, 2010, 11:23:52 PM
 #26

"The best way to collapse a government is to let it run its course."
-Martin A. Armstrong

If BTC is made illegal (most definitely will be in many jurisdictions) BTC is not the only one going down. Gold and silver will also probably be confiscated or trade will be prohibited.

If there are no more hiding places for people to keep save the fruits of their labors then the whole economy will grind to a halt causing incredible amounts of unnecessary suffering. Eventually this suffering will peculate up to the powers that be and a policy change will occur. IE soviet union disbanding, apartheid being dropped from law etc. etc.

In the meanwhile there are incredible investment opportunities as the government cannot and is not interested in controlling absolutely everything.

But we should pray that the changes in policy occur sooner rather than later.

Cheesy mine mine mine mine mine mine mine Cheesy
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