Bitcoin

[afx114]

Bitcoins now accepted as payment for flights into space on Richard Branson’s Virgin Galactic

This is hilarious.

[The-Shoveler]

Branson is an investor in Bitcoin, so it would make some sense he would try to support it. (it was converted into dollars immediately after the sale from what I understand as well so…)

But If I was a taco cart vender, I doubt I would take bitcoins as payment.

If I had bit coins I think I would convert them into something else as soon as I could, but I am a chicken these days.

[paramount]

The world has had enough of dollar domination.

That’s one reason bitcoin is taking off; central banks will try to shut it down if it becomes to much of a threat.

And yet, open source money (bitcoin or it’s successor) is here to stay.

[The-Shoveler]

Without a standing army?

Or hard asset to back it up ?

Well you are a braver man than I.

[The-Shoveler]

reminds me of the sock puppet.

I still have some enron stock if someone wants to buy that from me.

[afx114]

Trying to shut down Bitcoin would be like trying to shut down Bittorrent. How has that worked out so far?

[livinincali]

[quote=paramount]The world has had enough of dollar domination.

That’s one reason bitcoin is taking off; central banks will try to shut it down if it becomes to much of a threat.

And yet, open source money (bitcoin or it’s successor) is here to stay.[/quote]

Bitcoin is no different than me printing up a finite supply of livinincali bucks. Are you going to take livinincali bucks as payment for your goods or services. You’ll likely only do so if many people in your network of goods and services suppliers do so as well. Bitcoin is intrinsically worthless, and will likely go the way of many pyramid schemes eventually. If you got into bit coin back in 2009, 2010 now would be the time to cash in to the new suckers that are going to find these things out as the worthless security certs they are. You’re better off buying bottles of whiskey than bit coins.

[The-Shoveler]

Good luck with that.

The difference between the dollar and bitcoin is that

the dollar has the world most power military that ever existed behind it and the worlds richest nation in natural resources.

Bitcoin has basically just an Idea and thin air Underneath.

[jeff303]

[quote=livinincali]
Bitcoin is no different than me printing up a finite supply of livinincali bucks. Are you going to take livinincali bucks as payment for your goods or services. You’ll likely only do so if many people in your network of goods and services suppliers do so as well. Bitcoin is intrinsically worthless, and will likely go the way of many pyramid schemes eventually. If you got into bit coin back in 2009, 2010 now would be the time to cash in to the new suckers that are going to find these things out as the worthless security certs they are. You’re better off buying bottles of whiskey than bit coins.[/quote]

They are quite different, actually. Instant, essentially free transactions to anyone around the world, that are anonymous but verifiable by anyone. You can’t tell me with a straight face that’s the same as printed currency.

Granted, there is still the issue of acceptance for goods/services, but that has been gradually changing and will likely continue to in the near future.

[paramount]

[quote=jeff303]

Granted, there is still the issue of acceptance for goods/services, but that has been gradually changing and will likely continue to in the near future.[/quote]

Bitcoin is perhaps just the 1st iteration of open source money.

Yes, the dollar does have the world’s most powerful military behind it, which is why the world is and will continue to move away from the dollar.

More and more countries around the world have realized peace is a lot cheaper and more preferable to endless war.

Humans are evolving to a new higher enlightened level of consciousness, and in this Brave New World Bitcoin fits perfectly. The dollar doesn’t.

[paramount]

Or maybe this is all part of the NWO/OWC!

[temeculaguy]

Or maybe it’s just some guys who went to harvard and think that they are smarter than you and will get you to give them your money.

[paramount]

[quote=temeculaguy]Or maybe it’s just some guys who went to harvard and think that they are smarter than you and will get you to give them your money.[/quote]

Seems more plausible, I’ll give you that much…

[afx114]

[quote=temeculaguy]Or maybe it’s just some guys who went to harvard and think that they are smarter than you and will get you to give them your money.[/quote]

Or maybe one could take the initiative to do some research and read up on the technology and how it works so that we can have an actual discussion on the pros/cons rather than a series of lazy dismissive comments?

A virtual currency is inevitable. It may be Bitcoin, or it may be some other technology. But the underlying fact is that our current systems are obsolete in today’s insta-economy. In 10 years we will laugh at having to wait 7 days for a wire transfer. By then we’ll feel about today’s banking the same way we now feel about sending a hand-written letter via the post office.

[outtamojo]

[quote=paramount][quote=jeff303]

Granted, there is still the issue of acceptance for goods/services, but that has been gradually changing and will likely continue to in the near future.[/quote]

Bitcoin is perhaps just the 1st iteration of open source money.

Yes, the dollar does have the world’s most powerful military behind it, which is why the world is and will continue to move away from the dollar.

More and more countries around the world have realized peace is a lot cheaper and more preferable to endless war.

Humans are evolving to a new higher enlightened level of consciousness, and in this Brave New World Bitcoin fits perfectly. The dollar doesn’t.[/quote]

Oh I don’t know about evolving to a higher level of consciousness – all it seems to take is a power outage, natural disaster, group motorcycle ride…and we seem to behave like animals. Would not pristine Wall St. also come up with new blatant ways to plunder our bitcoins if not for threat of punishment backed by guns? Sad to say but imo, there is still a place in this world for guns and a powerful military and the world is same as it ever was.
And so begs the question-what would a bitcoin be worth in a zombie apocalypse? I’d say less than paper money and waaay less than gold or guns.

[Author]

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