From new issue of New Scientist http://www.newscientist.com/special/future-money Digital cash and online markets have the potential to loosen governments' grip on the currency that makes the economy go round. In this special report we examine how this could change money forever Comments?
The name bit-coin is to get into the bullion market. I use to be a magicians assistant. I know about tricks & I can see it all over bitcoins. They did not call it bit-trade or cash-byte. The name bit-coin is to get into the bullion market. If bitcoin was truly a currency they would have already addressed the serious value fluctuations, that are = to & over the current hyperinflation % of Belarus. Followed in 24 hours by deadly crashes on a regular basis. They take no care of the people holding that digital currency. This is either a slide of hand investment for pump & dump. Or currency neglect by the developers. If this was any western currency fluctuating like this, the world would be up in arms. It the pump & dumpers & people foolish enough to think bitcoin cant be traced to ileagal trade they will be sadly mistaken. People are being fooled into this dreadful juvenile & or pseudo-currency, that could be a good idea if it was implemented with the intention of stable fair trade.
Crashes on a regular basis? currency neglect by the developers? Calling it 'bit-coin' to get into the bullion market? Great conjecture, I look forward to ignoring your future posts.
Bit harsh. Most of the posts on this forum are conjecture - are you going to start insulting everybody else as well?
I wouldn't be so quick to categorise 'most posts' on this forum as conjecture. A lot of what is read/written on here may not be by experts but it is commentary and analysis based on market trends over time, and interpretation of information after research (usually from multiple sources). If JezebelDecibel can point me to the source showing the 24 hour deadly crashes on a regular basis, i'd appreciate it. This is what I have managed to find (perhaps my interpretation is different). This is silver over roughly the same time period (for reference) I am not denying there is a potential for pumping and dumping in the current situation due to the distribution of coins, but this is known and the distribution of coins will increase over time. I am interested to know how developers are to 'take care' of the people holding a decentralised currency? is that a suggestion that market manipulation is preferred to ensure everyone is 'safe'? Is the government backing FRB in times of crisis a sign of a good economic model worth investing in because the people _feel_ 'safe'? -edit- Added silver chart, not sure if it's really relevant but had it handy anyway
Digital money is very interesting but a bit of a bugger if you are a currency collector. I have heard about the Linden Dollars, World of Warcraft gold, something about Facebook credits etc. and my last lot of eBay wins were all from electronic funds in my PayPal account. It sounds like a niche market and I am sure it will have its detractors but as fiat money is make believe anyway it shouldn't matter that you can't see it.
I hold physical silver it has stood the test of time along with Gold of course the rest well you decide. Meeko
