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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 )
I prefer gold/silver to Bitcoin as well.
But I prefer Bitcoin to the USD/CAD/YEN/EURO.
The very same mechanism that allows for gold to hold value applies for Bitcoin - willingness of the buyer/seller dynamic.
If people refuse to except gold, gold is worthless. I'm not saying that will happen...but it's true nonetheless.
Also, it's not a ponzi scheme...AT ALL. You need to learn what a ponzi scheme is before you throw the label around.
Last edited by Seraphim; 02-20-2013 at 11:56 AM.
"Like an army falling, one by one by one" - Linkin Park
Nothing has intrinsic value. You place value on things based on you subjective needs. A peanut butter sandwich might have immense value to one starving man, but might have no value to another starving man who is allergic to peanuts.
If you don't like bitcoins, you don't have to buy any. But don't be surprised if you can't sell your silver and gold when TSHTF because nobody values shiny rocks that must be physically stored, secrured, and transported.
"You cannot solve these problems with war." - Ron Paul
i want a gold asteroid to strike the earth in my backyard. like 5 pounds worth
Seems to me they issued to few bitcoins. Not that its a fundamental flaw but if this becomes an alternative currency with the total value of all bitcoins being equal to one tenth of all the dollars right now, then you would have a bitcoin value of 30,000 $ or so.
"Here have a bread, it cost 0.000038 bitcoins."
"Jackpot! I just made a killing of 0.006 bitcoins in roulette! Drinks are on me boys."
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 )
The client already anticipates this with a built in option to display your bitcoins in mili bitcoins or micro bitcoins. Btw even the current display which amounts to 21million max units is just cosmetics, in reality there will be 2.1 quadrillion units, it's just that right now it makes sense to display the decimal place at 8 places to the left. So what you highlighted is a non issue.
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 )
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 )
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 )
BitCoin is King?
"We do have some differences and our approaches will be different, but that makes him his own person. I mean why should he [Rand] be a clone and do everything and think just exactly as I have. I think it's an opportunity to be independent minded. We are about 99% [the same on issues]." Ron Paul
I like the attributes of bitcoin, but would like something physical behind it. Is this possible within some bitcoin framework? If there was a way to issue a gold backed bitcoin or something like that, it would be game/set/match.
I don't understand how in this day and age you can be so fixated on something needing to be physical? Because you say physical but what you really mean is governed by laws of chemistry meaning you want something the rules of which can't be changed by any man or a group of people. Well that's what Bitcoin already is, it's just that instead of the laws of chemistry it's governed by the laws of math.
Bitcoin is a first of it's kind technology that manages to turn inexpensive and abundant information into scarce and valuable information. You don't need it to be physical in the traditional sense in order to have the properties that you seek in something that is a good store of value. That's the revolutionary thing that was created here and it pains me that it is so hard to communicate.
Last edited by hazek; 02-20-2013 at 04:29 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 )
I understand that bitcoin has attributes of gold and other mediums of exchange, but when push comes to shove its a bunch of 0's and 1's that was created from a little computer processing. Bitcoin is only valued as a medium of exchange. Gold was valued by itself before it became a medium of exchange. Like $'s, bitcoins only have value as a medium of exchange.
Who holds the bank accounts for bitcoin?
CPT Jack. R. T.
US Army Resigned - Iraq Vet.
Level III MACP instructor, USYKA/WYKKO sensei
Professional Hunter/Trapper/Country living survivalist.
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 )
Many many many people. I mean there are no records of who accepts them so it's hard to say, but a few of the big shops that I know of are:
www.bitcoinstore.com (electronics shop with over 500.000 items)
www.bitcoinin.com
www.coindl.com
www.bitmit.net
www.coinabul.com
www.reddit.com (for reddit gold)
www.wordpress.com (for premium services)
www.hosting.co.uk (big hosting provider)
And here's two lists with way more:
https://en.bitcoin.it/wiki/Trade
https://www.spendbitcoins.com/places/
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 )
I'm glad to see bitcoin growing. Not only because I have some but for the sheer concept of it. It is as market driven as possible. Transparent open exchanges that anyone can use. Transfer FRN to bitcoin, bitcoin to FRN, all at silly low exchange rates that make wiring money seem outrageously expensive. Bitcoins are as close to using cash online as possible. Without the downside of the FED printing a few trillion more to devalue your current holdings.
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