You don't blame the entire commodity of gold just because a gold vault was robbed. derp.Originally Posted by ItsTime
You don't blame the entire commodity of gold just because a gold vault was robbed. derp.
Would Bitcoin survive an EMP attack?
Rand can win in 2016 only after the security guards will listen to us rather than the establishment hacks and only after we are able to ensure that the rules are followed and the votes accurately tallied.
I have two questions:
- To what is Bitcoin linked to? (to gold?)
- It seems you can run a server to be part of the Bitcoin server load and storage. But while you do that you "mine Bitcoins". Doesn't that inflate the currency?
The point is the second bit coin becomes a real threat the bankers will hack the exchanges and zero them out. You cant hack the gold in my house.
Erm,it doesn't exist.
The LAND Of Israel Forever
The armed man asks 'Why?'.The unarmed man says 'Yes!'.
Let's see how your objection sounds when I substitue bitcoins with gold:
It's not relevant for my lifestyle at the moment. When I can pay for my gas or go to the grocery store and pay in gold, then I'll look into it. Until then, I'll continue to invest in tangible assets.
How idiotic, am I right?
When an online bank gets hacked, is that a fault of the dollar? I mean how idiotic can you get?
If it's not global - yes, if it is, well then, Bitcoin is the least of your problems. And for fuck sake, seriously? An emp? Why are you worried about them? Is it because we had oh so many go off on a daily basis? Talk about irrational response to something you don't understand.
To what is gold linked to?
There are no servers in the peer to peer Bitcoin network, I mean you can participate but you do so equally as can anyone else. And yes, if you validate transactions via a cryptographic process there is a reward and it is how all bitcoins will be issued, and yes, while they are being issued their supply is inflating. It is fixed however, and there will never be more than 21mil, 10.746M have already been issued which is more than half which is why the reward for helping secure the network has already halved once.
They can't hack the gold in your house? Really? I seem to remember something about confiscation and an artificially suppressed price through a fractional paper system. Good luck with just your gold when you need to spend it and it is illegal to do so.
My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right, tend to be unwilling or unable to accept blame )
It's really frustrating to see all of you uneducated idiots rejecting a solution just because you can't understand it.
But that's ok, Bitcoin plows on.. with or without you. And one day, when a good chunk of world finance is done with it, you will have wished you listened to the more educated peers around you who were trying to tell you about this amazing new invention that you could have used and yet were to cowardly to even research. I mean I'd be perfectly happy if you did only that and brought some valid concerns and then declined to dabble in it instead of crack pot EMPs and local grocery stores.
But no... you just stick with your fiat dollars getting robbed through inflation and taxation, I'll enjoy my gold/silver and bitcoins!
Last edited by hazek; 02-05-2013 at 05:43 PM.
My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right, tend to be unwilling or unable to accept blame )
What's stopping there being a "bitcoin 2" that acts exactly like bitcoin?
Bitcoin is interesting but I wouldn't save in bitcoins. I would much rather save in gold. I can hold on to gold and they can't print it or create it digitally on a computer.
No one is telling you otherwise. I definitely keep the majority of my savings in gold.
But you can certainly use Bitcoin for your online purchases or to settle debts between your libertarian friends.
My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right, tend to be unwilling or unable to accept blame )
No. What's idiotic is for you to insinuate that it's idiotic to not be interested in a completely useless medium of exchange simply because you are interested in it.
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