PetroBitcoin

[jollag]

With the demise of the Dollar and the Euro also in trouble, some countries have started looking at a collection of currencies to trade oil in. Any thoughts on Bitcoin as an oil reserve currency?

[Anth0n]

No large entity like a nation would dare use Bitcoins seriously anytime soon. Smart individuals like us forum users have to prove its worth first. But in my opinion, once the Bitcoin price becomes more stable, it would make a safe reserve currency.

[torbank]

All for it.

[tiberiandusk]

I live on a large farm in iowa we can use as a strategic oil reserve. Start sending the tanker trucks.

[TurboK]

If large countries will get into Bitcoin to do serious trades, btc/usd rates will soar waaaaay the fuck high.

[endthefed]

The best the Bitcoin community should strive for in the short-to-mid term is greater adoption by the average person, not by a governmental entity. That would bring unwanted pressure and and potential legal barriers to the use of the Bitcoin in the US at least, considering the fact that the only reason the dollar has any value anymore is that it is tied to oil.

[TradersEdgeDice]

The best the Bitcoin community should strive for in the short-to-mid term is greater adoption by the average person, not by a governmental entity. That would bring unwanted pressure and and potential legal barriers to the use of the Bitcoin in the US at least, considering the fact that the only reason the dollar has any value anymore is that it is tied to oil.

The dollar is backed by the full metal jacket of the United States Government.

[Basiley]

The best the Bitcoin community should strive for in the short-to-mid term is greater adoption by the average person, not by a governmental entity. That would bring unwanted pressure and and potential legal barriers to the use of the Bitcoin in the US at least, considering the fact that the only reason the dollar has any value anymore is that it is tied to oil.

The dollar is backed by the full metal jacket of the United States Government.

or by nothing "in short".

[TradersEdgeDice]

The best the Bitcoin community should strive for in the short-to-mid term is greater adoption by the average person, not by a governmental entity. That would bring unwanted pressure and and potential legal barriers to the use of the Bitcoin in the US at least, considering the fact that the only reason the dollar has any value anymore is that it is tied to oil.

The dollar is backed by the full metal jacket of the United States Government.

or by nothing "in short".

Unfortunately, the petrodollar is something.  Basically, a synonym for violence.

Just about everybody who suggests that the dollar is toast becomes toasts.

See Saddam Hussein and Dominique Strauss Kahn as examples that immediately come to mind.

[Shortline]

The best the Bitcoin community should strive for in the short-to-mid term is greater adoption by the average person, not by a governmental entity. That would bring unwanted pressure and and potential legal barriers to the use of the Bitcoin in the US at least, considering the fact that the only reason the dollar has any value anymore is that it is tied to oil.

The dollar is backed by the full metal jacket of the United States Government.

or by nothing "in short".

Unfortunately, the petrodollar is something.  Basically, a synonym for violence.

Just about everybody who suggests that the dollar is toast becomes toasts.

See Saddam Hussein and Dominique Strauss Kahn as examples that immediately come to mind.

Oh cool then we can stop talking about dollars on the bitcoin forum then? I'd like to take that step some day.

[kjj]

The best the Bitcoin community should strive for in the short-to-mid term is greater adoption by the average person, not by a governmental entity. That would bring unwanted pressure and and potential legal barriers to the use of the Bitcoin in the US at least, considering the fact that the only reason the dollar has any value anymore is that it is tied to oil.

The dollar is backed by the full metal jacket of the United States Government.

or by nothing "in short".

Unfortunately, the petrodollar is something.  Basically, a synonym for violence.

Just about everybody who suggests that the dollar is toast becomes toasts.

See Saddam Hussein and Dominique Strauss Kahn as examples that immediately come to mind.

And like half of the Internet.  Oh, wait...

Want the know the simple reason that everyone uses the dollar as a reserve currency?  It is because all the others options are even worse.

[FreeMoney]

The best the Bitcoin community should strive for in the short-to-mid term is greater adoption by the average person, not by a governmental entity. That would bring unwanted pressure and and potential legal barriers to the use of the Bitcoin in the US at least, considering the fact that the only reason the dollar has any value anymore is that it is tied to oil.

The dollar is backed by the full metal jacket of the United States Government.

or by nothing "in short".

Unfortunately, the petrodollar is something.  Basically, a synonym for violence.

Just about everybody who suggests that the dollar is toast becomes toasts.

See Saddam Hussein and Dominique Strauss Kahn as examples that immediately come to mind.

And like half of the Internet.  Oh, wait...

Want the know the simple reason that everyone uses the dollar as a reserve currency?  It is because all the others options were even worse.

[TradersEdgeDice]

For this site to stop talking about the dollar (which I would really, really like to see as well), bitcoin would need:

Multiple exchanges
A currency exchange subforum in Marketplace

Just using BTC is a statement against the dollar.

We're all gonna die!  :-)

[benjamindees]

Sorry but until I can buy Mt. Dew in Bitcoins, I'll continue to talk about the dollar.