State of Bitcoin

[beardman]

I got into it as a relatively cheap way to begin some trading with real money. The more I've read about it the more appealing it is because it isn't reliant on government control, and it's nice to be away from the eye and thumb of the government.

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[Red Emerald]

On the one hand, a tonne of people seem to be interested in developing Bitcoins for ideological reasons, to develop a currency independent of corporations or central banks.

Wanting freedom from the central banks is not anti-capitalist. 

Wow. Some real words of wisdom.  I'm liking you more every day atlas.

[Aggro]

On the one hand, a tonne of people seem to be interested in developing Bitcoins for ideological reasons, to develop a currency independent of corporations or central banks.

Wanting freedom from the central banks is not anti-capitalist. 

Wholeheartedly agree. NOT ONLY is not anti-capitalist, but it is the responsibility of every free-market believer to do whatever it is possible to break free of this "bank/big corporation socialism" we live in. The USA, and the rest of the world has actually never been less capitalistic and free market oriented as it is now today, if we talk of course of the PURE concept of capitalism and free market. Again, we live in a welfare state where big corrupted corporations and banks have manage to create quite the system for themselves. That is neither capitalism nor free market.

Roberto

[Red Emerald]

On the one hand, a tonne of people seem to be interested in developing Bitcoins for ideological reasons, to develop a currency independent of corporations or central banks.

Wanting freedom from the central banks is not anti-capitalist. 

Wholeheartedly agree. NOT ONLY is not anti-capitalist, but it is the responsibility of every free-market believer to do whatever it is possible to break free of this "bank/big corporation socialism" we live in. The USA, and the rest of the world has actually never been less capitalistic and free market oriented as it is now today, if we talk of course of the PURE concept of capitalism and free market. Again, we live in a welfare state where big corrupted corporations and banks have manage to create quite the system for themselves. That is neither capitalism nor free market.

Roberto

I thought a welfare state is a state that takes care of it's people more than it's businesses.  The USA is not that.

[foggyb]

I thought a welfare state is a state that takes care of it's people more than it's businesses.  The USA is not that.

All welfare states are doomed to eventually serve NEITHER purpose.

Take care of business (let it alone) and the country prospers. That is what the USA used to be.

[MoonShadow]

There is a paradox that strikes me strongly here. On the one hand, a tonne of people seem to be interested in developing Bitcoins for ideological reasons, to develop a currency independent of corporations or central banks. On the other hand, one of the biggest groups I see on here are ex-forex traders hoping to make a quick profit! Intuitively, those seem like clashing beliefs to me: speculative-capitalist and anti-capitalist.

Or am I totally wrong.

I don't think you're wrong, per se; but you are seeing the community through colored glasses.  The dominate ideology among the early bitcoin users (myself included) is strongly libertarian.  The US, (for example) is not a free market anymore; and hasn't been since 1913.  It's literally impossible for a free market to exist if the monetary system's value is 'regulated' (price controlled) by a central bank; because the monetary system in use is half of all the transactions.  Whether or not the monetary system is well managed or not is irrelevent.

[j4c300]

What are your reasons why you invest your time into bitcoin?

Thanks!

I have a few reasons. Like most people who use bitcoin I like the freedom from any centralized entity. I also see the system as somewhat elegant, bitcoin pays people with bitcoin to mine and keep itself running. I can also see it, or it's future predecessor becoming the world's currency, so it's nice to feel like something of a pioneer.