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Author Topic: My limited Summary of Fiat value vs Bitcoin  (Read 1166 times)

April 05, 2011, 05:34:56 AM

 1. the more that's printed the less the value of each unit
 2. insurance devalues it
   2a. if some looses 1,000,000 federally insured Fiat, the insurance agencies have more printed to replace it.  See 1.
   2b. if insurance agencies have more Fiat printed then everyone looses value in their money.
   3b. insurance steals YOUR money because some random stranger on the street was most likely careless with their money.
 3. is enforced with guns, prison, fear and death nothing more.
 4. if someone steals your money, you must trust corrupt governments to follow their own agenda in it's retrieval.
 5. no community accountability if someone scams you.
 6. unlawful but legal at gun point.

 1. Set maximum number gives value
 2. increasing in value as the decimal shifts to maximum potential
 3. if someone's wallet is stolen, only those (generally one) are affected.  Leaving everyone else money and value in tact.
 4. anonymous transactions
 5. community accountability threw forums or other communicable means, if someone scams you.
 6. lawful but illegal at gun point, if they can trace your GPGd, anonymous transactions.

Anything else?
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April 06, 2011, 06:28:40 AM

your not anonymous.

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April 06, 2011, 05:03:18 PM

The thing about Bitcoin's anonymity is that it is through obscurity only. If someone knows your address(es), they can know your balance and see what other addresses you send to.

This isn't a bad thing, just necessary due to the fact that all transactions are public. But if you want to keep your anonymity, make sure to "launder" any coins sent to public addresses through a coin mixing service.
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