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steelhouse (OP)
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April 16, 2011, 08:24:28 AM
Last edit: April 16, 2011, 06:52:01 PM by steelhouse |
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I also had a hard time grasping why anyone would want digital BTC valued at nothing with no man hours behind it. All currencies of the world are either commodity based or fiat. Fiat meaning demanded to be used by governments under order of guns. Then I thought about anti-matter or negative infinity, then it hit me BTC is anti-fiat currency. Due to the corrupt nature of all other currencies, the wasteful taxes, the poor spending, the banking fees, the rules and regulations attached to the currency, BTC will have value as anti-fiat currency. It is free to use, no sales taxes (you should pay them), no rules, no income tax. Since it is everything fiat money is not, it has value as currency. As a result it will attract negative elements such as gambling, prostitution, drugs, terrorism, and other illegal activities. But at the same time it allow the poor to retain their labor rather than see it lost to inflation tax. It will allow businesses to open which are closed to the poor that can't afford permits and rent.
So what is the ultimate end? government shutdown!
Is this analogy correct?
Debt can be also considered as negative money. You go to Sears with a credit card and no cash, and leave with a tv.
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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Gluskab
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Activity: 42
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April 16, 2011, 08:28:17 AM |
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What's labor value, and why do I value it?
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steelhouse (OP)
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April 16, 2011, 08:33:23 AM |
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What's labor value, and why do I value it?
It is work, commodity based money like gold retains its value because it is rare and recognized as money. It is also fiat, but can act alone as a bitcoin type currency. Labor on matter is wealth and money involves trade between two forms of wealth. |
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Gluskab
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April 16, 2011, 08:38:11 AM |
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What's labor value, and why do I value it?
It is work, commodity based money like gold retains its value because it is rare and recognized as money. It is also fiat, but can act alone as a bitcoin type currency. Labor on matter is wealth and money involves trade between two forms of wealth. Is all labor on all matter wealth? |
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matonis
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April 16, 2011, 09:03:39 AM |
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Since it is everything fiat money is not, it has value as currency. As a result it will attract negative elements such as gambling, prostitution, drugs, terrorism, and other illegal activities.
Secrecy=privacy. Those "elements" you mention are a red herring put forth by people who believe that secrecy=concealment. See Four Horsemen of the Infocalypse http://en.wikipedia.org/wiki/Four_Horsemen_of_the_Infocalypse |
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maxkoda
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April 18, 2011, 04:31:15 AM |
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My opinion: Bitcoin is a digital crypto-currency, not MONEY. However, as a currency model it is superior to the one provided by the world central banking structure. As long as I can convert bitcoins into REAL MONEY (at sites such as: https://www.awxcnx.de/cgi-bin/proxy2/nph-proxy.cgi/010000A/http/privatetrader.i2p/) I really don't care if the authorities recognize it or not! Cheers! Max Koda |
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oozzzzz
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April 18, 2011, 05:38:46 AM |
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All currencies of the world are faith based. You either believe that you have legitimate government or commdity that have some usable value. Current BTC exchange rate -is rate of faith.
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The Script
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April 21, 2011, 08:42:09 AM |
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What's labor value, and why do I value it?
It is work, commodity based money like gold retains its value because it is rare and recognized as money. It is also fiat, but can act alone as a bitcoin type currency. Labor on matter is wealth and money involves trade between two forms of wealth. Is all labor on all matter wealth? Of course. I've pioneered a new way to get filthy rich: I dig holes in my yard and fill them back up. Too bad you suckers didn't think of that first, eh? BTW, because of IP, if any of you copy this idea I expect to be paid in BTC. |
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cypherdoc
Legendary
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Activity: 1764
Merit: 1002
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April 22, 2011, 03:05:01 AM |
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What's labor value, and why do I value it?
It is work, commodity based money like gold retains its value because it is rare and recognized as money. It is also fiat, but can act alone as a bitcoin type currency. Labor on matter is wealth and money involves trade between two forms of wealth. Is all labor on all matter wealth? Of course. I've pioneered a new way to get filthy rich: I dig holes in my yard and fill them back up. Too bad you suckers didn't think of that first, eh? BTW, because of IP, if any of you copy this idea I expect to be paid in BTC. nice |
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deadlizard
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April 22, 2011, 04:06:30 AM |
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Of course. I've pioneered a new way to get filthy rich: I dig holes in my yard and fill them back up. Too bad you suckers didn't think of that first, eh? BTW, because of IP, if any of you copy this idea I expect to be paid in BTC.
Government already pioneered this method. (just in their neighbours yard instead of their own) If they don't have the IP rights then make sure you get your cut from them too  |
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