Bitcoin's nemesis

[revans]

http://www.zerohedge.com/news/2013-11-29/e-gold-founder-launches-new-gold-backed-currency

This will burn Bitcoin to the ground

[notme]

http://www.zerohedge.com/news/2013-11-29/e-gold-founder-launches-new-gold-backed-currency

This will burn Bitcoin to the ground

Lol.  Yes, let's rely on a centralized entity to withstand attacks from banking cartels and governments.

[chrsjrcj]

Shows how gold has zero portability. Why should I trust a 3rd party to hold my gold?

[revans]

Shows how gold has zero portability. Why should I trust a 3rd party to hold my gold?

You trust a 3rd party to write your Bitcoin client.

[raskolnikovx]

How is this gold backed currency different to any of the conventional gold backed currencies?
 

[emanymton]

How is this gold backed currency different to any of the conventional gold backed currencies?
 

It's got a new hat 

[notme]

Shows how gold has zero portability. Why should I trust a 3rd party to hold my gold?

You trust a 3rd party to write your Bitcoin client.

No I don't.  I can read the code and I am capable of understanding it.

[SheHadMANHands]

Shows how gold has zero portability. Why should I trust a 3rd party to hold my gold?

You trust a 3rd party to write your Bitcoin client.

Good one..   

[El Dude]

Bitcoin's nemesis
 

Litecoin.

[NamelessOne]

Bitcoin's nemesis
 

Litecoin.

A rip off that does everything worse is a nemesis? Sure it is great to make some money on but Litecoin is no nemesis.

[revans]

Shows how gold has zero portability. Why should I trust a 3rd party to hold my gold?

You trust a 3rd party to write your Bitcoin client.

No I don't.  I can read the code and I am capable of understanding it.

And what percentage of Bitcoin's userbase can understand source code? Even if reading it you need to have a high level of understanding to spot a well obfuscated block of code intended to do something nefarious.

[notme]

Shows how gold has zero portability. Why should I trust a 3rd party to hold my gold?

You trust a 3rd party to write your Bitcoin client.

No I don't.  I can read the code and I am capable of understanding it.

And what percentage of Bitcoin's userbase can understand source code? Even if reading it you need to have a high level of understanding to spot a well obfuscated block of code intended to do something nefarious.

No idea.  But how many people understand the code the banks use?  Not very many because it is all closed shit.

[Siegfried]

http://www.zerohedge.com/news/2013-11-29/e-gold-founder-launches-new-gold-backed-currency

This will burn Bitcoin to the ground

There is plenty of room in the post-fiat/fractional reserve financial system for both decentralized cryptocurrencies and commodity-backed digital currencies. Attacking the fiat system from multiple directions will only hasten its demise, which is ultimately more important than whether or not commodity-backed currencies take some of bitcoin's market cap.

[Kazimir]

http//www.zerohedge.com/news/2013-11-29/e-gold-founder-launches-new-gold-backed-currency

This will burn Bitcoin to the ground

Right. The Nth self made centralized virtual currency, printed at whim. Does *everything* wrong that Bitcoin does right. Yet it'll burn Bitcoin to the ground, no less. Good luck with that, sir!

And what percentage of Bitcoin's userbase can understand source code? Even if reading it you need to have a high level of understanding to spot a well obfuscated block of code intended to do something nefarious.

Even if they can't, at least they can trust thousands of other independent individuals who can. And who have been investigating Bitcoin *very* thoroughly.

[El Dude]

Bitcoin's nemesis
 

Litecoin.

A rip off that does everything worse is a nemesis? Sure it is great to make some money on but Litecoin is no nemesis.

yes faster transcations times are worse.


we get it you have alot of btc and will protect it to the end.

[seleme]

This guy looks devastated for not buying cheap btc 

[bitcon]

and with the price of gold plunging why would anyone prefer this to bitcoin?  nice try fud master, try harder.  you have nothing positive to say here and we all know it.

[GriTBitS]

What is the going fiat rate for trolls these days? And do they pay benefits ?

[proudhon]

http://www.zerohedge.com/news/2013-11-29/e-gold-founder-launches-new-gold-backed-currency

This will burn Bitcoin to the ground

Well done.  Somebody needed to pick up the slack since I stopped trolling around here.

[amencon]

Why does bitcoin need to be backed by anything?

Why doesn't whatever is backing something need to be backed by something else, itself?

This all re-curses down to the bullshit flawed "intrinsic value" argument doesn't it?

Sometimes it's fun to watch troll threads unfold, thanks for that at least revans.