Fate of those who challenge world's reserve currency!

[solarion]

it's kind of shocking how, through the use of our media, our government and the rich people in bed with them, are able to invade other countries.. and sell it off to us as "freedom bringers." it's more subtle than propaganda, and goes right under our nose.

we go into poor countries, buy out their government and extract all their resources without helping the indigenous people in any way. in many cases, they turn out to be terrorists - and then we hunt them down, naming them through and through "bad guys."

The force is strong with this one.

Those nations without central banks *MUST* be brought to justice.

[LostDutchman]

it's kind of shocking how, through the use of our media, our government and the rich people in bed with them, are able to invade other countries.. and sell it off to us as "freedom bringers." it's more subtle than propaganda, and goes right under our nose.

we go into poor countries, buy out their government and extract all their resources without helping the indigenous people in any way. in many cases, they turn out to be terrorists - and then we hunt them down, naming them through and through "bad guys."

The force is strong with this one.

Those nations without central banks *MUST* be brought to justice.

OK.

Get busy!

[cryptopaths]

The Decentralized Union has big plans on this very topic, central banks should think twice about bitcoin/cryptos.

[bluemeanie1]

The Worlds reserve currency as we know is the United States Dollar..

Before 4 years there was a story that Libya's General Gadhafi had planned to switch to Gold backed dinars for oil business instead of USD which was welcomed among many arab countries, That move had devastating effect on US dollar as a world reserve currency...Then the Arab spring happened and we  watched how Ghadafi was killed like a street dog..

That story is really terrorizing when one begins to think from the point of view of fate of those who challenge worlds reserve currency.

But bitcoin has a potential to do exactly that...Imagine what will happen if bitcoin is used as the reserve currency of transaction for oil and gas.

What will happen?

what would happen if someone were trying to decentralize the entire financial system?

-bm

[LostDutchman]

The Worlds reserve currency as we know is the United States Dollar..

Before 4 years there was a story that Libya's General Gadhafi had planned to switch to Gold backed dinars for oil business instead of USD which was welcomed among many arab countries, That move had devastating effect on US dollar as a world reserve currency...Then the Arab spring happened and we  watched how Ghadafi was killed like a street dog..

That story is really terrorizing when one begins to think from the point of view of fate of those who challenge worlds reserve currency.

But bitcoin has a potential to do exactly that...Imagine what will happen if bitcoin is used as the reserve currency of transaction for oil and gas.

What will happen?

what would happen if someone were trying to decentralize the entire financial system?

-bm

Uh, they would fall flat on their asses.

[bluemeanie1]

The Worlds reserve currency as we know is the United States Dollar..

Before 4 years there was a story that Libya's General Gadhafi had planned to switch to Gold backed dinars for oil business instead of USD which was welcomed among many arab countries, That move had devastating effect on US dollar as a world reserve currency...Then the Arab spring happened and we  watched how Ghadafi was killed like a street dog..

That story is really terrorizing when one begins to think from the point of view of fate of those who challenge worlds reserve currency.

But bitcoin has a potential to do exactly that...Imagine what will happen if bitcoin is used as the reserve currency of transaction for oil and gas.

What will happen?

what would happen if someone were trying to decentralize the entire financial system?

-bm

Uh, they would fall flat on their asses.

looks like someone found a retirement pastime.

http://www.youtube.com/watch?v=OX5K8mRI6vI



-bm

[cuddaloreappu]

The Worlds reserve currency as we know is the United States Dollar..

Before 4 years there was a story that Libya's General Gadhafi had planned to switch to Gold backed dinars for oil business instead of USD which was welcomed among many arab countries, That move had devastating effect on US dollar as a world reserve currency...Then the Arab spring happened and we  watched how Ghadafi was killed like a street dog..

That story is really terrorizing when one begins to think from the point of view of fate of those who challenge worlds reserve currency.

But bitcoin has a potential to do exactly that...Imagine what will happen if bitcoin is used as the reserve currency of transaction for oil and gas.

What will happen?

what would happen if someone were trying to decentralize the entire financial system?

-bm

Uh, they would fall flat on their asses.

okay forget about implications for a moment...Do you favour or not favor cryptos replacing as a reserve currency and decentralization of financial system?

[jonald_fyookball]

Bitcoin was never, ever; not now, now ever intended to replace fiat.

If you doubt me, try reading the original Bitcoin absrtact, which may be found here:

https://bitcoin.org/bitcoin.pdf
 

Are we reading the same paper?

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as
trusted third parties to process electronic payments. While the system works well enough for
most transactions, it still suffers from the inherent weaknesses of the trust based model.

Last time I checked, Internet was a pretty big place.  If Bitcoin is used as the go-to currency
in e-commerce, it will displace fiat in a major way.

[LostDutchman]

The Worlds reserve currency as we know is the United States Dollar..

Before 4 years there was a story that Libya's General Gadhafi had planned to switch to Gold backed dinars for oil business instead of USD which was welcomed among many arab countries, That move had devastating effect on US dollar as a world reserve currency...Then the Arab spring happened and we  watched how Ghadafi was killed like a street dog..

That story is really terrorizing when one begins to think from the point of view of fate of those who challenge worlds reserve currency.

But bitcoin has a potential to do exactly that...Imagine what will happen if bitcoin is used as the reserve currency of transaction for oil and gas.

What will happen?

what would happen if someone were trying to decentralize the entire financial system?

-bm

Uh, they would fall flat on their asses.

okay forget about implications for a moment...Do you favour or not favor cryptos replacing as a reserve currency and decentralization of financial system?

Hell, no!

Defeats the entire purpose of the thing!

READ THE ORIGINAL ABSTRACT!

[LostDutchman]

Bitcoin was never, ever; not now, now ever intended to replace fiat.

If you doubt me, try reading the original Bitcoin absrtact, which may be found here:

https://bitcoin.org/bitcoin.pdf
 

Are we reading the same paper?

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as
trusted third parties to process electronic payments. While the system works well enough for
most transactions, it still suffers from the inherent weaknesses of the trust based model.

Last time I checked, Internet was a pretty big place.  If Bitcoin is used as the go-to currency
in e-commerce, it will displace fiat in a major way.

Horseshit.

Legal implications, tax issues and governmental attacks and regulation preclude that.

Bitcoin was never intended to replace fiat.

[cuddaloreappu]

Bitcoin was never, ever; not now, now ever intended to replace fiat.

If you doubt me, try reading the original Bitcoin absrtact, which may be found here:

https://bitcoin.org/bitcoin.pdf
 

Are we reading the same paper?

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as
trusted third parties to process electronic payments. While the system works well enough for
most transactions, it still suffers from the inherent weaknesses of the trust based model.

Last time I checked, Internet was a pretty big place.  If Bitcoin is used as the go-to currency
in e-commerce, it will displace fiat in a major way.

Horseshit.

Legal implications, tax issues and governmental attacks and regulation preclude that.

Bitcoin was never intended to replace fiat.

//Alice: tell me why i can't do that
bob: because its above your pay grade alice..
alice: then go ahead and raise my pay grade, so i can do that//

Similarly...

Us: bitcoin will replace fiat on the long run
you: no it wont, there are taxes,legislations,etc etc.......
us: then go ahead and change those rules of the society,  new system, new form of taxation so bitcoin could replace all fiat....

[jonald_fyookball]

Bitcoin was never, ever; not now, now ever intended to replace fiat.

If you doubt me, try reading the original Bitcoin absrtact, which may be found here:

https://bitcoin.org/bitcoin.pdf
 

Are we reading the same paper?

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as
trusted third parties to process electronic payments. While the system works well enough for
most transactions, it still suffers from the inherent weaknesses of the trust based model.

Last time I checked, Internet was a pretty big place.  If Bitcoin is used as the go-to currency
in e-commerce, it will displace fiat in a major way.

Horseshit.

Legal implications, tax issues and governmental attacks and regulation preclude that.

Bitcoin was never intended to replace fiat.

Believe whatever you want.

Here's another quote from Satoshi.

The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.

[LostDutchman]

Bitcoin was never, ever; not now, now ever intended to replace fiat.

If you doubt me, try reading the original Bitcoin absrtact, which may be found here:

https://bitcoin.org/bitcoin.pdf
 

Are we reading the same paper?

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as
trusted third parties to process electronic payments. While the system works well enough for
most transactions, it still suffers from the inherent weaknesses of the trust based model.

Last time I checked, Internet was a pretty big place.  If Bitcoin is used as the go-to currency
in e-commerce, it will displace fiat in a major way.

Horseshit.

Legal implications, tax issues and governmental attacks and regulation preclude that.

Bitcoin was never intended to replace fiat.

//Alice: tell me why i can't do that
bob: because its above your pay grade alice..
alice: then go ahead and raise my pay grade, so i can do that//

Similarly...

Us: bitcoin will replace fiat on the long run
you: no it wont, there are taxes,legislations,etc etc.......
us: then go ahead and change those rules of the society,  new system, new form of taxation so bitcoin could replace all fiat....

Good luck.

[Beliathon]

Uh, sorry to tell you that I am the owner of a substantial body of intellectual property subject to copyright and I haven't changed my behaviour one little bit!

Steal my shit and I sue you ass and WIN!

I was talking about software specifically. If you have software folks actually want, believe me it is being pirated. Microsoft Windows gets pirated.

Sorry to burst your bubble, but you're a nobody with insignificant copyright holdings. I'm talking about the whales, the Big Corporates who were sending stormtroopers into people's homes for piracy.

That behavior has ceased. And they're adapting their business models too, as can be seen in the fall of Blockbuster and rise of Netflix. This is not debatable, this is all historical fact.

You're just not seeing the same trends I am. You're definitely missing some MAJOR trends if you think the dollar is going to survive the next two decades.



Must watch video: Dead Dollar Walking
Second must watch video: Wealth inequality in America: Perception vs. Reality
Third must watch video: Bitcoin vs Political Power
Fourth must watch video: The Biggest scam in History

[LostDutchman]

Uh, sorry to tell you that I am the owner of a substantial body of intellectual property subject to copyright and I haven't changed my behaviour one little bit!

Steal my shit and I sue you ass and WIN!

Sorry to burst your bubble, but you're a nobody with insignificant copyright holdings. I'm talking about the whales, the Big Corporates who were sending stormtroopers into people's homes for piracy.

That behavior has ceased. And they're adapting their business models too, as can be seen in the fall of Blockbuster and rise of Netflix. This is not debatable, this is all historical fact.

You're just not seeing the same trends I am. You're definitely missing some MAJOR trends if you think the dollar is going to survive the next two decades.



Must watch video: Dead Dollar Walking
Second must watch video: Wealth inequality in America: Perception vs. Reality
Third must watch video: Bitcoin vs Political Power
Fourth must watch video: The Biggest scam in History

Not missing a thing.

When I sue for copyright infringement the nice Sheriff's officers serve the subpoenas for me as part of the legal process.

They kinda look like storm troopers though, I guess.

A wildly fluctuating cryptocurrency cannot replace so much as a thin drachma for use as a "real" currency.

The dollar will be just fine, thank you.

[Beliathon]

A wildly fluctuating cryptocurrency cannot replace so much as a thin drachma for use as a "real" currency.

See the above graph. "wildly fluctuating but up year over year", is vastly superior to "slowly but surely eroding into nothing", as you will see in the coming years.

Who do you sue for a torrent on the internet? You can't sue a decentralized enemy. Nor can you send Thugs With Guns at them. If you could, Bitcoin would already be destroyed, stolen, owned.

Fiat currency, like software copyright lawsuits and copyright law itself, will become more and more a farcical affair as we move further and further into the information age.

[jonald_fyookball]

Beliathon:  this is why SaaS is one of the hottest areas right now for VC.

Dutchman, i'm curious:  

in what way do you think fiat is superior to cryptocurrency?
 

[bluemeanie1]

Lost Dutchman is similar to the sort of person who said in the 1800s that cities cannot get any bigger because there is no way to manage all the horse crap.

he's just bored and wants attention.

-bm

[Soros Shorts]

Fiat currency, like software copyright lawsuits and copyright law itself, will become more and more a farcical affair as we move further and further into the information age.

Not to derail the topic but don't you mean software patents? Copyrighting software is pretty useless because it would be very difficult to enforce - e.g. the copier could just change variable names in the code and the copyright would be unenforceable.

As a holder of several software patents, some of which I've assigned and some of which I still own, I have mixed feelings about the whole patent situation. Owning an earlier issued patent certainly saved my bacon when somebody else tried to sue me for infringement of a somewhat similar patent that they owned.

[bluemeanie1]

A wildly fluctuating cryptocurrency cannot replace so much as a thin drachma for use as a "real" currency.

The dollar will be just fine, thank you.

NXT will eventually have credit and options instruments which give it all the basics required to have a 'real' currency p2p.  We can even have p2p gold reserves(linked the HOWTO already).  You will be able to construct complex debt relationships inside the block chain, as well as hedge on volatility using options.  see: http://altchain.org for a rough description(whitepapers in the upper left).

My personal belief is that the PoW systems will not last because they are basically obsolesced by newer models.

you don't appear to understand what you're talking about.

-bm