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Author Topic: Why are you interested in BitCoin?  (Read 1348 times)
IdeaMan
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Do or do not think, then do. YMMV


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August 27, 2011, 03:39:04 PM
 #1

I figure this is a good question to get people discussing things on the newbie board.  I have a ton of reasons, personally, I won't bore you with a lot of them, just get the ball rolling.

The removal of extreme amounts of wealth and power to the hands of individuals is a process we usually refer to as "liberation", and is generally recognized as a good thing.  This attracts me to the idea of Bitcoin.



Edit History
- fixed a typo in the headline -BitCon to Bitcoin

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Trader Steve
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"How do you eat an elephant? One bit at a time..."


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August 27, 2011, 03:43:09 PM
 #2

For all of these reasons (similar to yours):

http://www.economicsandliberty.com

(BTW, you may want to edit the typo in the subject line)
tweakedgeek
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August 27, 2011, 03:50:32 PM
 #3

BitCon == Bitcoin Convention?
helloworld
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August 27, 2011, 03:56:33 PM
 #4

BitCon == Bitcoin Confidence Trick?

tweakedgeek
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August 27, 2011, 04:12:14 PM
 #5

BitCon == Bitcoin Confidence Trick?

Just was reading the paranoia thread. Thanks for re-inforcing that for me Wink
Puzzles
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August 27, 2011, 05:59:25 PM
 #6

I'm interested in BTC for it's anonymity in purchases.

Hello.
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IdeaMan
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August 27, 2011, 06:07:16 PM
 #7

For all of these reasons (similar to yours):

http://www.economicsandliberty.com

(BTW, you may want to edit the typo in the subject line)

Fantastic article! - fixed the typo, thanks!

Signatures are only used for 2 things - Advertising, like this one, and teenagers on social networking sites that feel a need to waste your time, which is fundamentally what all advertising does.  Abolish signatures on message boards.
fently
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Bleh!


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August 27, 2011, 07:54:27 PM
 #8

I find the whole "offshore" and "expropriation" angle to be overplayed just a little. For instance, if I have a bundle of cash, lock it in a safe, and hide the safe, it's almost as hard to expropriate as my bitcoins. You might argue that access to your bitcoins is a little more convenient, but then so is your ability to hand over access under duress. Of course, as the amount of bitcoin to be stored increases, this argument may be more meaningful, but then who is it most meaningful for? Arguably only for the very wealthy. Well, that's not a very compelling argument for the rest of us to adopt a currency.

The real value here is in the ability to make a secure transaction. It is inexpensive, and has a public audit trail. You can say you're going to do something (ie, pay X BTC to address Y), then do it, and anyone can confirm in the block chain that you in fact did what you said you would do.

IdeaMan
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August 27, 2011, 07:57:52 PM
 #9


Well put!

Signatures are only used for 2 things - Advertising, like this one, and teenagers on social networking sites that feel a need to waste your time, which is fundamentally what all advertising does.  Abolish signatures on message boards.
BitcoinStars.com
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August 28, 2011, 02:05:51 AM
 #10

A new form of freedom. Sexy  Cool
FXTrader
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August 28, 2011, 02:29:17 AM
 #11

I am interested in bitcoin because it is:

1.  Liquid
2.  Volatile
3.  Easy to read

B.A. Finance
M.S. Finance
Trading stocks, futures, currencies for 5 years
kdf
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August 28, 2011, 03:12:25 AM
 #12

I am interested because of the money making opportunity.
w00ly
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August 28, 2011, 07:09:18 AM
 #13

I like the fact that fees are comparatively much lower and you can send cash around the word nearly instantly
Pearikay
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August 28, 2011, 09:16:43 AM
 #14

Quote
Why are you interested in BitCoin?

I'm here for all the hot chicks  Wink

Like everyone else  Wink
Luigi
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August 28, 2011, 11:19:27 AM
 #15

I like it's deflationary nature.
cryptobard
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August 28, 2011, 01:27:11 PM
 #16

I like the idea of sound money and bitcoin is a step in the right direction. The relative anonymity is a further attraction.
Gabi
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August 28, 2011, 02:27:23 PM
 #17

I like the freedom it give and the fact that i can hold MY money
Quanta
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August 28, 2011, 03:16:54 PM
 #18

Hello all!

While I haven't used Bitcoin for any transactions yet, I am interested in using because of the anonymity (somewhat) of the transactions. Being anonymous allows you to "vote with your money" and take it out of a fiat, inflationary system. I really feel that if we can begin to deny the state (federal government) possible tax revenues we can starve the government down to a more manageable level.

Of course, along the way judges and bureaucrats can stand in our way -- we have two hundred years of legacy law working against us. Einstein was often quoted as saying if just two percent of armed forces refused to fight the war machine would grind to a halt. Well, I suspect that his "2%" number applies equally to other national endeavors also. If just 2% of taxpayers refused either directly or indirectly to pay taxes (either outright refusal or via a difficult to trace crypto-currency) then government functions would halt.

Just my two cents ...

ysoliman
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August 28, 2011, 05:52:48 PM
 #19

Bitcoin is an innovation in electronic P2P currency.
A brand new idea which is totally open source.
Sabi
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August 28, 2011, 06:46:54 PM
 #20

I just think it's a pretty cool idea, and it gives my 2 old 5850's something to do.  Who knows, in 5 months or so they may pay for themselves even after using them for 2 years for gaming.

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