wow you guys really need to do your homework about the history of the internet, its objective, where the technology comes from, and who controls it. C'mon, you can't be that naive?
Yeah, let's all just have group think shall we? All hail $50,000 Gold when the Gold Standard gets re-established. Burn the heretics. Some of us think the PM's are a good investment without all the religion that most stackers have.
Last post (I said I was done - but this is a very rational question presented nicely, so I need to respond). Bitcoin isn't going anywhere, and the internet isn't going anywhere. I bet people are still buying their drugs off Silk Road today, that makes it a currency according to the dictionary. It might also be of interest to you to note that Silk Road offers an escrow service for a small fee, so the seller doesn't have to take a huge haircut if the price plummets. I see escrow services for BTC as a large market in the future, which will help it gain more recognition as a stable currency. ...and I'll just throw in one more :lol: about the banksters controlling the internet! Please enlighten yourself on how P2P works valuecreator.
never said they have to shut down the whole internet. What I'm saying is they'll let the btc go as long as it serve their purpose. And I'm guessing this is going right where they want it: getting people used to a Global Cashless Currency. just like the internet was supposed to be about freedom and anonimity at the beginning, now they use it to keep track and profile us. please read about the next internet that they're ready to implement. anyways, I don't mean to derail the kumbaya about it, so please carry on.
If they really wanted to do something bitcoin, I assume they would just buy (infinite money remember) all the important bitcoin infrastructure and start manipulating. I know you guys all say you can't manipulate it, but where theres money, theres a way lol.
You responded, but you didnt answer the question. You said that bitcoin isnt going anyhwere... ok... I agree... neither is the flat earth society. You mentioned an escrow service. My question was, if a currency is not acting like a currency, can it ever be a currency?
It is ironic, diss gold that has been money for almost all of human existence except the last 40 years and push bitcoin that has been open for like 3 years, never been a currency and does not act like a currency and say it is better than gold in a metal forum.
Genuinely interested to know who would be behind it. MtGox speculated that it was people looking to manipulate the price by causing panic selling when the market becomes available to create a buying opportunity. Others might suggest it's anyone that's not interested in seeing what's touted as a borderless currency succeed.
Meanwhile, in the Mt Gox server room ... [youtube]http://www.youtube.com/watch?v=vh3tuL_DVsE[/youtube]
I bolded the relevant text to make it easier to read since you missed it previously? If you want to argue the definition of currency, you might want to contact the editors of the major dictionaries - not me.
I stand corrected. You are probably right... bitcoin users are most definately high and doped up to the extreme.
lately there is more talk about bitcoin than silver and gold... once everyone wanted to avoid it now everyone praises it....
Chill out guys People who believe Bitcoins are a stupid idea and rubbish do not need to have anything to do with them! Those on the other side who think they are a good idea do not need to try too hard to convince others! Just like you won't convince people that PMs are something to look at, you won't convince people to look at bitcoin if they don't want to. And it's fine! I don't see what the big deal is... Personally I couldn't care less what others think of it!
This is a first take I think. There are still lots of issues with the 'Crypto Currency'. I've not the nerve for it personally but some seem to be ok with it. At the moment I think it's being played like a casino. A new toy for the speculators looking for 'the next big thing'. Pity because there are people in there who just wanted somewhere stable to park their wealth, clear of thieving banks. It seems they could be prey to the speculators here. And If it is open slather then you can expect the Banks to find a way in. As for Max Keiser...I'm a little suspicious of him these days . In London, spruiking Bitoin like a madman and now involved in setting up a Bitcoin exchange?. I'm probably just having an Alex Jones reptoid paranoid moment but...I smell a spiv :lol: he must believe that hiding in plain sight is a good idea when there's shenanigans afoot. I'm sure he's after a big 'score' out of all this. I think one day, 'a crypto' will come along that I can trust to some degree but right now I'll leave the 'wild west of currency' to those who feel they can cope with it.
Anyone got any data on how many bitcoins the world's Reserve banks have been buying? I wouldn't expect anyone to have any info on China's of course.
