4 votes

WOW! New Shackles for Government!

I was just reading Ron Paul's Liberty Defined book, he says so himself: "The restraints placed on our government in the Constitution by the Founders did not work."

So I propose you read the following article on Bitcoin:

http://evoorhees.blogspot.nl/2012/04/bitcoin-libertarian-int...

"what power would the Zimbabwe government have if its people had had Bitcoin in their communities - money they could hide and spend via cell phones and email accounts. What cause would there be in Greece to riot at the ECB mandates when the country can abandon the euro in favor of a money that each of them controls unto themselves. And from where would the US get the resources to deficit-finance its wars and welfare programs when it no longer has the ability to print money and pay back debt with debased currency? Like a gold standard, Bitcoin shackles a government and forces it to subsist only on what it can tax openly and legitimately borrow, but unlike a gold standard, Bitcoin doesn't require any official status to become a standard. The market can arrive at the standard sans government approval, again because it works elegantly both for storage and transfer and it cannot be stopped because it exists in decentralized form."

I think, Ron Paul will love to see Bitcoin compete with or without FED approval! Let the competition BEGIN! :)



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ecorob's picture

i think you are wrong...

Dr. Paul wants a return to the gold standard and competing currencies

why would Dr. Paul choose to go from one fiat system to another?

Ron Paul
2012
A sound dollar!

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.

"...and competing currencies"

I agree with your statement, so I don't see where I am wrong.

Dr. Paul wants to return to the gold standard (that is a standard that is imposed on GOVERNMENT... not something to rule out other currencies)

Bitcoin falls under the "...and competing currencies" part of the statement. I am not advocating that Bitcoin be used by some government, that would be pretty neat, but very very unlikely...

Government will need to simply wake up to the fact that they can't stop this wave of advancement, and they will be FORCED to be fair, transparent, and small... to compete with bitcoin.

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

The minute Bitcoin...

The minute Bitcoin really threatened the Fed or the power of the U.S. government you would see a media campaign like no other against it. There would be stories of how Bitcoins are used to fund terrorist groups and hundreds of arrests would be made...

You really think our government would just step aside that easily? We went to war with Libya because they wanted to establish a dollar-free gold standard, it was also one of the many reason's for invading Iraq in 2003.

I fear you may be right, I hope their "minute" will be too late

I understand exactly what you mean, but I also hope that they will be much too late... and since it is an absolutely global phenomenon, the FED will be powerless against the rest of the world (hopefully)

Their strong-arm tactics may work for a while in the US, but I don't think it will make a dent in the whole bitcoin community... or at least a "dent" big enough to stop it.

we will see... jump on board, and keep an eye on this REVOLUTION, it is going to be an AMAZING RIDE! :)

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

Bitcoin seems to me very hack able and open to fraud

But then, I don't know enough about it.

and there in is the problem with bitcoin, one must learn about it.

But if you are anyone from anywhere on the planet.... with a Phd or lived in a Cave all your life, you'll have no hesitation taking my gold and silver coins for what you've got to trade. And if its in an E-Gold account, perhaps you'll take that too.

Just sayin..

Yes, please BUY this wonderful libertarian BOOK! We all must know the History of Freedom! Buy it today!

"The System of Liberty: Themes in the History of Classical Liberalism" ...by author George Smith --
Buy it Here: http://www.amazon.com/dp/05211820

Is it not

the same problem with Liberty, to those that don't know enough about it? It seems that one must study it. When they finally "get it" and understand how good it is then they're hooked. Pay a little more attention to Bitcoin. It is a truly miraculous and beautifully complex concept. Cryptocurrency will likely be the future, that is if freedom spreads as I anticipate it will.

Nothing is hackable proof

The Federal Reserve notes also exist in electronic form. What makes you think that is not hackable? I have a hunch that banks have been hacked already, but there is NO publicity, because it will undermine the whole system.

Hmmm...

Bold statement, but instead of me having to prove a negative... please tell me where you think Bitcoin is "hackable" and then we can discuss it further.

Proving a negative is really not something anyone can do. That is the reason you are innocent until proven guilty. Proving you have NOT DONE something is impossible, that is why in court etc.. it is always the prosecutions duty to PROVE GUILT, and defense simply goes and disproves every attempt.

I hope this is clear.

So don't ask me to prove bitcoin is NOT HACKABLE. (btw, it has not been hacked in 3 years)

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

A disconnect...??

Am i the only person here who finds it odd that a perfectly uninformed comment, one that even states "i dont know enough about it" gets up-voted?

Okay, maybe it is genuine interest by others to have the comment followedup or something or it may be blind obedience to the "gold is the only true money" mantra... Well my quick reply to you is that:

Bitcoin has not been hacked EVER! The number one proponents of the protocol are programmers who have been meticulously documenting the hackability of bitcoin. They have even challenged eachother.

http://bitfreak.info/?page=security

The above articles explains why the system is trusted.

Regarding taking your gold: i would love to! Now, you are there, i am here. Please send me your gold i will send you whatever you want for it..of course i would like verify first to make sure it is real. In exchange i will give you access to my dwellings in this cave as an extra free bonus ;)

By the way you have heard of this little gem, right?

http://news.yahoo.com/blogs/sideshow/fake-gold-bars-found-ma...

Now back to bitcoin: easy to send/receive, very easy to verify... Not inflateable, or forgeable! :)

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

i work too hard for my money

to utilize any more "faith based systems".
i am all for competition.
you use your computer money.
i will use that which i can hold in my hand.

"The two weakest arguments for any issue on the House floor are moral and constitutional"
Ron Paul

Very cool, and honest

Very cool, and honest answer... I think it is great that you stumbled here, and read some of the info here, and made the effort to comment.

Shows you are open minded and CRITICAL!

thanks for the comment! If you ever do get more curious and need any questions answered, feel free to ask.

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

It still seems to me

that bitcoin is nothing. It is computer generated numbers that don't really exist. You are required to own some type of computer to use them and you pay a fee to buy them yet they do not really exist. And since the government can easily control computers then they can control bitcoin. What happens when the government shuts down the internet, will your neighbor barter for bitcoin or will they barter for gold and silver?

There are a lot of questions and problems I see with this bitcoin.

Saying bitcoin is nothing is

Saying bitcoin is nothing is like saying email is nothing because pen and paper wasnt used to create it.

They are computer generated, yes. They are also very unique in that they cannot be forged, cannot be blocked, cannot be stopped. This is similar to how torrent network keeps on working eventhough there has been a huge effort to "do something about it"

I believe you are here because you have somekind of computer... Welcome to the world of bitcoin! :)

Is the government controlling your computer? Are you safe typing, communicating here? If you think you are, well that is great! But if you are worried there are really good ways to keep you computer free of govt and other snoops

http://www.fbi.gov/scams-safety/computer_protect

This will do pretty well for small amounts of bitcoin... For your VAULT, you may use more precautions like this:

https://en.bitcoin.it/wiki/Securing_your_wallet

Theyll shut down the internet?
https://bitcointalk.org/index.php?topic=75971.0

From the above link:

Re: The Bitcoin Dilemma: Can the Internet be shutdown?
April 09, 2012, 06:25:43 AM
 #8
"Consider the attempt last year for the government of Egypt to block cross-border Internet traffic.   Sites like gmail, Youtube and CNN even were not accessible by those within Egypt.  But the traffic within the country was still functional.  Eventually the bitcoin client would find peers within the country (or helped a bit by manually specifying which peers to connect to) so all that needs to happen is for one of those nodes to connect to the rest of the internet for the blockchain to be kept current.  That could occur over dialup if nothing else."

"There are other ways the Internet could survive if disruptions to massive subcomponents were to occur (e.g., if consumer access providers were to block all traffic, for instance).  Metro-wide networks built using mesh networking technologies with inter-city peering links could some day make reliance on the existing Internet infrastructure.  You wouldn't get Facebook but you could still route e-mail, transfer data files and transact using bitcoin."

Here's one approach for a quick-deploy emergency internet:
 - http://wiki.hacdc.org/index.php/Byzantium#Project_Goals

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

Bitcoin is great, so you know they'll criminalize it.

I imagine that the totalitarians will declare all out war on bitcoin in just a matter of time, ostensibly as part of the war on drugs. I can already see the talking heads asking each other, "Can we really allow the use of a currency that allows people to make black market transactions?". So, I'll probably trim down my positions substantially in a year or two, depending on how fast our dear leaders seem to be moving on this issue.

It will still be a useful medium of exchange when it is criminalized, but a lot less people will want to risk having it around.

If that ever happens, watch out for whitelisted malware that looks for bitcoin-associated files on your computer and rats you out.

As far as I can tell, the only thing really stopping them from doing this is just their sheer stupidity. Who knows, maybe they are really so incompetent that they can't see this obvious workaround to their legal tender laws.

lindalsalisbury's picture

Global money??????????????

I have just become curious, at least, enough to look up references to look up this bitcoin thing.

The first thing I see is that it is global money!

Isn't this a plan of the NWO???

Is the NWO trying to get in the backdoor, by causing a panic over the dollar???

Maybe some of you are up to date on this study, and can advise me, as to how this is not a plan from TPTB.

This is the best answer i

This is the best answer i found for you, and i quote:

"If you do not comprehend or understand an XOR cipher function, Elliptic Curve Digital Signature Algorithm and some basics of Classless Inter-Domain Routing then it may be best to sit down, shut-up, listen to some people who do understand, ask what questions you can formulate based on your limited understanding, do some study and then try to form an opinion based on facts instead of facile intelligence where one thinks they have a talent for monetary science, economics and finance but do not see the need to undertake the hard labor of learning how such arguments are constructed when applied to the Bitcoin Protocol. After all, do you want to be the guy that asks, “How big is yellow?” or worse ignorantly pronounce the statement, “Yellow is really big.”

Why would anyone continue respecting someone who loudly proclaims yellow is really big?

As more people come to understand that yellow is a color not a thing then they are better able to discern the logic and arguments. Then those who proclaim yellow is really big will not stay highly respected because their arguments are poor. Remember, ideas can only be overcome by other ideas."

Source and a nice discussion on exactly your fear:
https://bitcointalk.org/index.php?topic=110432.0

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

lindalsalisbury's picture

Bitcoin

Thank you for your response and the info source.

I believe gold was the first international money

so it must be an illuminati plot too, right?

Pandacentricism will be our downfall.

Yes! I believe so! And it is

Yes! I believe so! And it is so yelllow that it is big ... And heavy! ;)

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

Precious metals, preferably in coins...

Is the only true asset one can hold. Just ask Celente what money should be, he learned first hand that if you do not hold it, you aint got it, and Bitcoin is no different. Did they ever recover the 250K or so that was hacked and stolen? If you purchase pre 65 coins, or eagles that do not have to be reported you can bury them, you can rent a storage container and hide them in a box, you can pay an out of the country storage facility, but the most important thing is they are within your grasp. I will admit that I have not looked into bitcoin, but I can guarantee you that Dr. Paul would give the same advise on physical metals, not bars or metals that have to be registered, but coins.

Always remember:
"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds." ~ Samuel Adams
If they hate us for our freedom, they must LOVE us now....

Stay IRATE, remain TIRELESS, an

I cant stop pointing out that

I cant stop pointing out that this here is again a post where the author clearly states " I will admit that I have not looked into bitcoin..." and some good people, i guess to help and inform, they upvote this post. GREAT STUFF!

Btw. Without "looking into it" can you tell me how big is yellow? :)

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

I was 100% completely honest

And the reason I got an up vote is because others; without looking, know that metals are far superior to any other currency. What I do know is that 250K of bitcoin was hacked and the owners could not cover the loss at last read. I know one can hold metal in their hands, bury on their property, and it cant be hacked, it can only be manipulated via paper stocks. I wish bitcoin had arrived prior to our government turning to tyranny to keep its power structure running, it might have been good for me then, but today my advise would be to hold metals either in your possession, or in as many facilities across the globe, out of the reach of those that steal from you on a regular basis. One question I do have about bitcoin, if there is an EMP attack, where do I redeem them?

Always remember:
"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds." ~ Samuel Adams
If they hate us for our freedom, they must LOVE us now....

Stay IRATE, remain TIRELESS, an

Celente seems to have turned a page now.

http://geraldcelentechannel.blogspot.hu/2011/05/what-is-bitc...

His blog post Asks:
"What is Bitcoin ?"

And then answers:
"Bitcoin is a digital crypto currency that could replace the fiat currencies of the world."

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

Tangible money

is the only way. If you don't think the government would gain more control over our lives with electronic money, we are fooling ourselves. All they would have to do is shut you off. We must be careful what we wish for. Bible prophecy, possibly, controllable, definitely.

Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine

The R3volution requires action, not observation!!!!

Then by your logic there is

Then by your logic there is no need for competition, as you already know "THE ONLY WAY"

I am simply here to suggest a new way, an ALTERNATE way... And definitely not the ONLY way...

So, to make it more clear here are the reasons that make me lean way over to bitcoin vs tangeable and other forms of money:

Unlike gold, bitcoins are:
easy to transfer
easy to secure
easy to verify
easy to granulate

Unlike fiat currencies, bitcoins are:
predictable and limited in supply
not controlled by a central authority (such as The United States Federal Reserve)

Unlike electronic fiat currency systems, bitcoins are:
potentially anonymous
freeze-proof
faster to transfer
cheaper to transfer

Source:
https://en.bitcoin.it/wiki/Myths

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

It is clear the Constitution

It is clear the Constitution binds the hands of the State government's too much. I am currently reading "The Founding Father's Guide to the Constitution" by Brian McClanahan where he breaks down the Constitution bit by bit and then inserts the Founding Father's comments. Reading the commentary by an anonymous writer who went by the name "Brutus" is fascinating. He objected to the Constitution, and predicted all the things we now face. It is as though he looked and foresaw everything we are experiencing today.

The Constitution needs amendments to clearly give State governments the right to nullify federal law, to secede, to have the Senators chosen by the legislative body of the states (i.e. repeal the 17th amendment), and all lawsuits between the Federal Government and the State Government should be decided in State courts. The States created the Federal Government for a very limited purpose, and they should have the right to dissolve it should it out grow its original intent.

Brutus was Robert Yates, a NY judge

http://www.constitution.org/afp/brutus00.htm

You might also like this book
http://www.amazon.com/Secret-Proceedings-Debates-Constitutio...

And you might like this site
http://www.barefootsworld.net/antifederalist.html

Having read a book on Madison, I realized I deinitely lean anti-Federalist.

If Tyranny and Oppression come to this land, it will be in the guise of fighting a foreign enemy.
James Madison

Thanks for the idea

I am going to look in the book by Brian McClanahan, sounds really interesting :)

Did you read the long article, though? It basically says, that theis new technology, bitcoin, will really do what the Constitution intended to do, but unfortunately failed at...

I think once the power over money is destabalized and taken from those who have it now, there will be a real chance for the original intent of the Constitution to be reached. I think they were able to succeed in usurping the Constitution by bribing, stealing, controlling EVERYBODY who is elected to positions of power.

Of course, so far, we have seen only one true example of one who has not been controlled: He is obviously, our HERO, Dr. Paul! :)

I'm going to read up on Brutus!

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

Interesting idea. Much for

Interesting idea. Much for the same reason they want to control gold and precious metals is to take away the opportunity of self sustainability from the people.

Southern Agrarian

Yes, their game is: Control

If your ability to be self-sustainable is in your HEAD! That will be hard to take away. I mean, when you become selfsustainable, I mean really self sustainable and you do that all yourself. Even if they come and take all your "toys" of self sustainability away, they cannot take away what you have LEARNED!

This is the thing that is happening with Bitcoin, but it is AMAZINGLY challenging money, and power itself, and I am so excited to be ontop of the changes that it is bringing on a daily basis!

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]