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Author Topic: Everyone is a victim not just the Gox customers  (Read 3884 times)
leopard2
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February 09, 2014, 11:24:14 PM
 #41

The OP is correct but missing one detail.

In a world where finance isn't regulated to death, you don't need Bitcoin. Just pick a bank and use it to convert commodities into whatever asset you need to pay with, or vice versa. Bitcoin's only real use is to combat red tape. Without this, it's easily beaten by many other systems, for example a payment processor plus gold exchanges.

That's not to say Bitcoin is a bad idea. It may or may not be a decent weapon against man-made idiocy; time will tell.

Oh absolutely, I am not denying that, BTC success is due to Gresham's law, no doubt about it. A Liberty Reserve type system would beat BTC if it wasn't for the vulnerability.

This is not tinfoil hat stuff, Alan Greenspan himself wrote this:

http://www.constitution.org/mon/greenspan_gold.htm

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

Just that there are a lot more risks than inflation nowadays.

Truth is the new hatespeech.
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jubalix
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February 10, 2014, 12:00:02 AM
 #42

yawn

BTC/CC going to 2~21 T market cap in 5 years.

money solves teething problems....hodl.

all govs will cave when that much money is on the table, the corporations will demand it.

Apple does a fine job of legal tax minimisation, via Ireland then Holland.

BTC will do the same.

That is all

stop worrying your welcome.

Admitted Practicing Lawyer::BTC/Crypto Specialist.
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2bfree
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February 10, 2014, 12:51:12 AM
 #43

i hate to break it to you but most people hate to be free and demand 4they be regulated out of freedom

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moni3z
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February 10, 2014, 12:54:05 AM
 #44

i hate to break it to you but most people hate to be free and demand 4they be regulated out of freedom

Sadly yes, the major bitcoin exchange in Canada is "pushing for clear regulation". Wtf, why would you want any regulation. Nothing the government comes up with will at all be beneficial to anybody except themselves. Working with them is pointless it's better if none of them even know what Bitcoin is. None of us will ever have any say in any legislation they come up with, pretending to be important enough to shape government regulation is laughable. Right now it's a free for all and as a result Bitcoin based business exploding. The moment the federal gov gets involved it will all implode in suffocating regulations.
chriswilmer
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February 10, 2014, 02:34:15 AM
 #45

While I don't want too much regulation , it's lack of regulation that have allowed so many scam sites and questionable companies operate in the bitcoin field the last few years.  Again I don't want too much regulation, but I've never seen any evidence that allowing something to be the wild wild west would somehow limit the number of bad actors.

While I don't want too much mercury in my body, it's a lack of mercury that has allowed me to catch colds and other infections. Again I don't want to ingest too much mercury, but I've never seen any evidence that allowing my immune system to learn and adapt in Wild West fashion could somehow limit the number of diseases I get.

You should use some other substance besides mercury, perhaps lead... because for a moment I thought this had something to do with the mercury in vaccines! Cheesy
igorr
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February 10, 2014, 12:56:25 PM
 #46

LOL, the price on BTC-e 102 usd 

Check,
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