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The moment BTC looks like a threat to the USD (well before it replaces it) the Fed and the U.S. government will shut it down. There is still an upside to BTC. The question is how much? The huge upside has to do with Europe and sovereign defaults. If they start happening, BTC explodes and the U.S. gov. shuts it down. Then it becomes a matter of timing on when to sell before they are made illegal.
Oooooo! Capital Gains Tax!
Stupidest tax ever.
In New Zealand:
The Coastguard is a Charity
Air Traffic Control is a private company run on user fees
The DMV is a private non-profit
Rescue helicopters and ambulances are operated by charities and are plastered with corporate logos
The agriculture industry has zero subsidies
5% of the national vote, gets you 5 seats in Parliament
A tax return has 4 fields
Business licenses aren't a thing
Prostitution is legal
We have a constitutional right to refuse any type of medical care
Bit Coins are for the uneducated that think private fiat money is better than government backed private fiat money. Gold and Silver will remain real money long after dollars and bit coins are only mentioned in history books.
Yes, but I would think you'd need to sell before it is shut down, which means you'd need to sell before it does what it was designed to do. So the moment just before it starts to be recognized as a serious competitor to the USD is the time to sell.
So this risk people are taking, they must be betting that its not gonna get shut down as it begins to compete with the USD. I still wonder how anyone who has say like a couple thousands of these is gonna get their money back if the keep holding on to it.
It's not like when it drops in value because it's been regulated to the point of being useless, or when its been declared unlawful to use these in trade as currency that the price is ever going to come back up.
So the higher the price the higher the risk of the value becoming 0.
I think I'd have to bail on it once I doubled my money. Then I'd take half the doubling and get back in again. Rinse and repeat.
So if gold is about to be banned you would want to sell it before is made illegal?
Today I decided to get banned and spam activism on this forum...
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EPIC
186.5
'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988
Awareness is the Root of Liberation Revolution is Action upon Revelation
'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3
Flectere si nequeo superos, Acheronta movebo.
...the familiar ritual of institutional self-absolution...
...for protecting them, by mock trial, from punishment...
'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988
Awareness is the Root of Liberation Revolution is Action upon Revelation
'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3
Flectere si nequeo superos, Acheronta movebo.
...the familiar ritual of institutional self-absolution...
...for protecting them, by mock trial, from punishment...
I hate bitcoin threads. I keep kicking myself everytime I read one. *sigh*
Lack of planning on your part does not constitute an emergency on my part.
'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988
Awareness is the Root of Liberation Revolution is Action upon Revelation
'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3
Flectere si nequeo superos, Acheronta movebo.
...the familiar ritual of institutional self-absolution...
...for protecting them, by mock trial, from punishment...
192
or
20 million coins
'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988
Awareness is the Root of Liberation Revolution is Action upon Revelation
'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3
Flectere si nequeo superos, Acheronta movebo.
...the familiar ritual of institutional self-absolution...
...for protecting them, by mock trial, from punishment...
QFT. The banksters don't control BTC, so there's no team embedded in the currency to pull tricks to deflate its value, as with gold and silver. The explosion in Bitcoin valuation is the same we should be seeing in precious metals. BTC is ripping the mask off the devaluation of government currency faster than expected, by either the mass public OR the elites.
-----Peace & Freedom, John Clifton-----
Blog: https://electclifton.wordpress.com/2...back-backlash/
The thing that has kept me from buying one or any is that I usually research the hell out of stuff like that before I get into it. If someone *TRUSTWORTHY* (read: reputable rpf member) had a how-to that detailed what to do to buy a bitcoin that streamlined the process, I would have a hard time saying no.
*please forgive me if this does exist, maybe in a post somewhere and I just missed it and many thanks to someone if they can point me to one (even if outside of rpf, as long as you can vouch for the instructions you are recommending)
Last edited by jtap; 04-08-2013 at 08:25 AM.
1)
STOP WHAT YOU ARE DOING
POUR YOURSELF A CUP OF COFFEE
2)
GO TO MTGOX AND CREATE A WALLET
GO TO BITINSTANT AND CREATE AN ACCOUNT
3)
USE BITINSTANT ACCOUNT TO CREATE A BUY BTC AT WALMART VIA ZIPZAP MONEY GRAM TO YOUR MTGOX WALLET
PAY 4% and $3.95 in fees
4)
GO TO WALMART, GIVE CASH
5)
GO TO MTGOX AND SEE WHAT PRICE YOU GOT IN AT (alternatively you can just put cash in your account and then place a buy order later)
6)
WATCH YOUR MONEY DOUBLE IN 10 DAYS
Last:
BTC 193.75000000
Last edited by presence; 04-08-2013 at 08:36 AM.
'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988
Awareness is the Root of Liberation Revolution is Action upon Revelation
'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3
Flectere si nequeo superos, Acheronta movebo.
...the familiar ritual of institutional self-absolution...
...for protecting them, by mock trial, from punishment...
The story about bitpay having a 5 million dollar month for march is probly gonna bring more upward turbulance, fasten your seatbelts folks this might be a bumpy ride.
Originally Posted by acptulsaI heart BTC! - 1AesnP1c7wyjzJhaKZajkixo9tthZRQzjBOriginally Posted by Ron Paul
i can see the temptation to compare bitcoin with gold in a government confiscation scenario. Difference being, they actually have to take the gold from my hands at least giving me a chance to hide it or defend myself.
Some people will manage to hide their gold in that event.
When the government comes for bitcoin, it's one fell swoop. You'll have no chance to back out, sell it off, defend it, bury it, send it to the bottom of the lake. When it's gone, it really is gone, vanished, poof. Right back where it came from.
The government can't really "ban" gold and shut it down like they can bitcoin.
They can try and confiscate, but then they have to pile it up somewhere and that becomes a target in the ensuing revolution that would occur.
If the world government decided to pull the plug on Mt. Gox for instance and release a UN statement backed by ICANN, IMF, World Bank etc etc, that bitcoins are recognized as international money laundering and fuel terrorist activities, that bitcoin doesn't get confiscated it really does go to the moon and beyond.
There will be no way to rebel against it besides transitioning into another electronic scheme similar to btc.
Banning bitcoin sounds about as easy as banning the internet.
Maybe China could pull it off within their own borders, but I don't readily see it as being currently possible in the West.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
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