4/05/2013 4:36pm, #41
You are stupid. It must have been a very easy birth for your mother, given that your brain is very small. Your claim was that "You say in your initial post in this thread, that bitcoins are not going to work because they are digital and will be measured against something physical..."
and then you point to this as your proof: The chances of you buying an orange with it at the corner store are very slim—it's just high-tech nerd to high-tech nerd transfers.
That's not an example of the currency being measured against something physical, but of being used to purchase something physical. You do know that currency is supposed to be used to pay for ****, right? You asked me to point to grocers who take gold—it's not that hard given the number of pawn shops in stripmalls next to grocers. The orange example was to point out that for most transactions, bitcoins are useless. Which grocers take bitcoins?
Nope you are a dip **** for believing so. Vulgar is from Vulgare which is common. It is used by dipshits like you to pretend to be better. So the joke is on you.
Yes they do have that... once more, look how long this stuff lasts when things go down hill. I once again refer you to Germany. It will work initially and then break down too.
You do defend fiat money by proxy...
"You so vigorously try to defend a physical reference while history has shown that it can be removed, over time?" That is NOT fiat money. Now of course the problem is that you are such an imbecile that you don't use "physical reference" in the same way twice: in this thread so far you have used it to mean commodity standards for money (e.g., gold), commodities you can buy with money (e.g., oranges) barter goods (e.g., salt, tea) and now it seems you think it means physical currency (cash, coin) regardless of whether it is specie (backed by a commodity) or not.
"Physical reference" cannot mean all those things at once—especially not oranges!
I did not say that they are anything but a proof of concept that it your american dollars could be replaced by a pure digital form. And that it is a logical and very plausible step.
*ETA: of course, during hyperinflation money is used a lot. People spend it right away, as it will be worth less tomorrow.
Last edited by Rivington; 4/05/2013 4:53pm at .
4/05/2013 4:50pm, #42
4/05/2013 8:06pm, #43
This guy recently paid his way across the US with nothing but bacon.
Gold, silver, and edible pork are always valuable whether you have "faith" in them or not.
So much for fancy theories.
4/05/2013 8:18pm, #44
I was at an event a few weeks ago that had a "Bacon for titties" booth.
For a flash you got two slices of freshly fried and crispy pieces of bacon.
They went through 50 lbs in one weekend.
4/07/2013 10:16am, #45
I recently registered with the Bitcoin site..but getting set up with TOR and finding the Silk Road URL is something else..
I'd just like to get on the site and check it out for curiosity's sake." If one wants to have a friend one must also want to wage war for him: and to wage war one must be capable of being an enemy." - Fr. Nietzsche 'On The Friend' Thus Spake Zarathustra
4/07/2013 12:02pm, #46
4/07/2013 12:18pm, #47
I honestly don't care so much about the value of a Bitcoin; what interests me is the use of BTC as a distributed, decentralized medium of exchange that doesn't need as many mother-may-I's and related bullshit as traditional currencies.
I have no doubt that Bitcoin is going to get curbstomped by the current informal economic oligarchy, but for me it's like tinkering with watches or restoring old cars... it's a hobby with a utopian cyberpunk appeal; a digital-age, ongoing, economic crossword puzzle.
4/07/2013 1:26pm, #48
If you can generate bitcoins without any real world input,
IE Labor, Product, rare resource, I can't imagine it having a very good end game.
I can see a bitcoin bubble forming easily but at some point it will pop cause its not held up by anything.
However for the time being people are will to exchange real money for bitcoins so what is the harm in generating them?
All though I would be interested in seeing the actual cost of generating a bitcoin IE is it going to even pay the electricity of leaving your computer on overnight.
4/07/2013 2:09pm, #49
You guys are missing the forest for the trees here; the point of Bitcoin is to be the digital equivalent of cash, without the need of banks or government involvement. Think BitTorrent, vs. your shitty cable service's "on demand" programming selection and service.
4/07/2013 2:42pm, #50