[bppstorr]

Ideally I wouldn't accept them either, but I'd take them over a jews fiat any day.

Good luck!

[zdoppiklonikaa]

Surely at GSUS, I'm not the only one who thinks this is the banking cartel who has set out to destroy bitcoin? I mean this is the most viable alternative I have seen to FRN's in quite some time, other than sites like Gold Money etc. They can't appreciate that.

They do everything they can to stop Bitcoin (the bankers and government.) I mainly think they work on negative press, hacking exchanges, online wallets, and encourage chargeback scams (where Bitcoins are sold for Dollars, then the Dollars are charged back.) The funny things is they can't do much to stop it like Bit-Torrent. Peer-2-Peer technology is very powerful. It can seriously destroy the entire centralized banking/government systems if it keeps growing. The more they try to attack it the quicker it grows. Just wait till there's a P2P Internet and they can't track you or block Internet websites. This technology is made by good people who believe in Liberty.


Now about the Bitcoin prices I would prefer a more stable price but there's a lot off pumping and dumping. There's a lot of newbie young investors who don't understand the concept that you DO NOT buy when markets are going straight up. Only young people really understand this technology pretty much, so you have rookie "investors". That's a perfect setup for pump and dumps. I support the technology, but it needs a more widespread and educated populace to become more stable and credible. I think it's a great idea, whose time hasn't come yet. Since of that, you might as well take advantage of it.

Even if you think its a bad store of wealth (it is a bad one in my view) you should learn how it works and be able to dump a lot of money into it. One day you may need to flee the country, and this is a great way to smuggle money outside of the banking system. There's a lot of possibilities on it. My business for instance uses a virtual currency which is hooked up to Bitcoin. So it's really easy just to buy Bitcoins in virtual currency and have less reported income, if you catch my drift (because I'd normally sell the virtual currency for Dollars.)

It's outside the banking system. This shit is dangerous to TPTB!

[insoneeri]

Good luck!

I don't really have a dog in this fight dude, but if it comes down to it I'd rather have anything on this planet than a jew promise, and that's all I'm saying.

[lammaredder]

Even if you think its a bad store of wealth (it is a bad one in my view) you should learn how it works and be able to dump a lot of money into it. One day you may need to flee the country, and this is a great way to smuggle money outside of the banking system. There's a lot of possibilities on it. My business for instance uses a virtual currency which is hooked up to Bitcoin. So it's really easy just to buy Bitcoins in virtual currency and have less reported income, if you catch my drift. It's outside the banking system. This shit is dangerous to TPTB!

Cogs in my head are turning

Thanks for the info

[SashaLionx]

I have been a little loathe to seriously bring up bitcoin here, because it is still experimental, and it's easy to dismiss as "non-existent" compared to the tangibility of our beloved metals.

But in a nutshell... it is internet gold, (not like e-gold though) that you hold yourself with no fees and no middleman and no one can stop your transactions or freeze your accounts. You can even create a deterministic wallet that is based on a passphrase (or pass-sentence... hopefully with high entropy to cryptographically protect the keys).

Here's a thought... I could convert goods/metal/FRNs to bitcoins, then send the bitcoins to a certain address that corresponds with a private key that is created from a passphrase that exists only in my head. I can travel the world with millions "in my head", then, in a destination country, run a bitcoin client, and recover the private key from my passphrase when I want to spend the coins.

"I got my mind on my money and my money on my mind" as the old negro spiritual goes.

Bitcoins can be converted directly into gold and silver and vice verse, no FRN middleman.
People WANT bitcoin. They will steal and scam and extort to get them. You don't hear about many thefts of things that aren't valuable or aren't capable of transferring value.

I love gold and silver, but I can't transport them across the planet without taking them myself or trusting someone, and it certainly would not be within an hour... but bitcoin is different... I can send it virtually instantly anywhere in the world... there are services now that allow you to send them to cell phones and email addresses, although those systems rely on third-parties, and thus, trust.

You can't send value in the form of gold across the world without trust and you can't do it instantly, and of course, it could be seized.

You can't send value in the form of USD/FRN across the world without the same problems as with gold or without using the banking cartel as a middleman, who then decides when and if to process your transactions, and who can freeze funds and charge-back transactions on a whim.

Bitcoin puts you in the driver's seat in regards to transferring value instantly over the internet, without counterparty risk in the form of middlemen.

Bitcoins have risen from $0.001 to $30, to $10 currently, and the supply is mathematically limited to 21 million bitcoins total (they are currently divisible by 8 decimal places, which allows for a great deal of "units").

A couple years ago someone bought two pizzas for 10,000 BTC (which was a fair price at the time based on exchange value). As of RIGHT NOW, valued in USD at today's BTC exchange rate, that guy paid $107,500.00 for two pizzas.