10 votes

"BITCOIN" posts get no traction here... WHY?

I just noticed something... I posted a bunch of really informative and useful links and stories here, and they are all being VOTED DOWN!

It just seems unnecessary, I mean, it is only information, and in my view it is EXACTLY fitting to the liberty message, and in line with Ron Paul's competing currency ideas.

So who is doing all the down voting of bitcoin related articles??

Any ideas?

-- maybe I don't quite see how this site works --

Dear Michael (Nystrom), it sure would be nice if we could see all the voting activity, not only the final vote count. It would make it more interesting to sort posts according to "activity"

here are my recent posts:

Expatriating from the United States? Consider this!

Wikipedia Accepts 'Enemies Of The Internet' Currencies

Why Bitcoin Acceptance Should Be A Litmus Test Of Liberty Proponents

The future of Bitcoin: new applications and rebuilding the banking system

Why do I bother trying to EDUCATE here about BITCOIN?

Gold vs Bitcoin

Here are other people's (GREAT) posts about Bitcoin:

Allten's Bitcoin Thread

Bitcoin Report Vol 26 with BrotherJohnF VIDEO

Adam Kokesh: What is Bitcoin and Why is it Important

Gold, Silver and Bitcoin: The ultimate interview by VisionVictory



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Would bitcoins even exist if ...

.. if governments did not monopolize currency and the existing financial infrastructure?

Nope I don't think there would be a demand for them. I think digital gold certificates would win in such a case. But unfortunately that's not the reality we're in.

EXACTLY the question to ASK!

THANKS FOR ASKING IT! :)

My answer is: Probably NOT!

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

This is preciely the point.....

Goldmoney.com created those digital certificates you suggested. And government thwarted them. the problem with gold is it has to live somewhere and it is susceptible to thugs with guns.

In the same way government could kill Napster but not bittorrent, governmet can kill gold as money in the digital age, but not Bitcoin.

Btw, Bitcoin probably would exists even if governments did not, because security transactional and transportation costs of Bitcoin are significantly lower than gold.

www.SuccessCouncil.com
Protect your assets and profit from the greatest wealth transfer in history.

I

Think people aren't ready to completely jump on that band wagon. Look how many bills have been put forth to change/modify the internet...this leaves the possibility open that because of governments meddling it could potentially have disasterous effects on bitcoin.....it isn't a solid asset at this point...it could be destroyed tomorrow by governmetn intervention.

I love the idea....don't get me wrong...but there is a lot of uncertainty there.

I believe the same can be said of gold

Don't forget what an all powerful government did in 1933

http://en.wikipedia.org/wiki/Executive_Order_6102

If they are so worried about the dollar (and they are!) I see no reason they will not come after your gold again... good luck trying to get my bitcoins! :)

I actually started a post on this before here:

http://www.dailypaul.com/255701/executive-order-6202-and-bit...

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

Yes

i know what they did in 1933...but how much would your gold be worth today if you'd kept it....price has gone through the roof.

If the government shut down bit coin...or passed legislation outlawing online currencies for purchases....bitcoins would be worthless....overnight.

Again i'm not bashing the idea...i love it...a guarantee that government would keep its hands out of the market is the only thing it's missing.

Saying it doesn't make it so..

.it isn't a solid asset at this point...it could be destroyed tomorrow by governmetn intervention.

If this is true, why haven't they stopped bittorrent yet? Bitcoin is based on the same technology..

The only way to shut Bitcoin off is for every government on the entire planet to shut of the entire internet. Do you really see more than a miniscule chance of this happening?? I think this risk of this happening is well worth the benefits we have with a working technology RIGHT NOW.

Is

there a potential in the future for it to be manipulated by the government? Absolutely - it's a digital currency. Could there be laws written that could potentially mess with its use as a currency? Absolutely.

I love the idea - I really do....it's a free market currency w/ controlled inflation like gold...and it may very well be the future of currency....but there are a lot of unknowns right now and to put a bunch of eggs in that basket when there is a new internet security bill trying to get hushed through congress every other week is a little risky in my opinion.

The only way to "manipulate"

The only way to "manipulate" the value of Bitcoin is to change the laws of mathematics.

What a government could try to do is manipulate the Bitcoin marketplace.

Or a government could attempt a 51% attack, and inject their own (falsified) block chain, but such an attack which would be (1) ridiculously expensive (2) immediately detected by the Bitcoin users, who would start counter-mining to stop the attack, making it even more cost-prohibitive for such an enemy to succeed. There's plenty of discussion on this around the net, but you'll have to find it yourself.

As for your other point, laws can be written, but how can they enforce something they cannot control? Bitcoin transactions cannot be traced, especially if one is using something like Tor.

They

could simply outlaw online currencies. If bitcoin picks up a lot more traction that isn't so far fetched...it would be a direct threat to government currencies.

That would be as enforceable as

That would be as enforceable as outlawing nose-picking.

I don't

think that matters much...if it was outlawed the price would drop like a rock.

I doubt it. I've been

I doubt it. I've been telling everyone that I know to assume it's illegal until proven otherwise anyway. I don't think you quite understand how large the market is for not-quite-legal money.

http://www.freakonomics.com/2011/11/01/the-black-market-is-t...

Don't forget

Bitcoin is a GLOBAL currency. The U.S. does not control the rest of the world.

I know

that...but they control what goes on in this country.

I don't think we are talking

I don't think we are talking about the same country. From what I've seen, they can't really control NYC after a blow.

That doesn't

really matter...if it were to outlaw it the price of bitcoin would drop like a rock...it doesn't matter if certain individuals decide to take their chances and keep using it.

Many things can affect the

Many things can affect the exchange price, but a drop in the price is not the same as the destruction of the currency. The market value of your gold coins would drop pretty fast too, if Obama decided that it was again in the national interest if private ownership of PM were banned and you were compensated the *official=* exchange rate of $35 per ounce. There is no such thing as a free lunch, and there is no such thing as a sure bet, either.

Correct me if I'm wrong

Didn't Warren Buffett say: Diversification is for pussies (or something like that :)

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

Existential threat to the current order

is what bitcoin would be if it ever became more than a marginal currency, so rather than lose control the sociopaths in power would stop at nothing to destroy it. If that means shutting down the entire internet or killing a few hundred million people in a global thermonuclear war, well yes, yes they can.

When bitcoins become mainstream

a new similar system will emerge by bigger players and will make bitcoin a memory much like VHS thumping Beta.

VHS won because it was first

VHS won because it was first to market, not because is was superior. Betamax was definately a better technology, and it lost.

Not really.

Beta actually predated VHS by about a year. What made VHS more appealling to the American market (the one that mattered) was its longer recording time. You could record an hour on Beta, and two hours on VHS. This led to video stores renting movies on VHS tapes, and leading the charge in this area were the adult movie studios. Beta didn't have this ability until a while later. Much like the Flash video players that dominate the browser-based video of our modern internet (as opposed to javascript, Silverlight, Windows Media, etc), the videotape wars of 30 years ago were resolved by the people who make pornography. Innovation quite often comes from the fringes of society.

If that's true (innovation

If that's true (innovation occurs on the fringes of society) then Bitcoin still wins hands down. Online gambling, porn & contraband are certainly markets that Bitcoin has advantages within, and has already made much headway. Silk Road alone is roughly a $3 million dollar a month illicit drug market on TOR, that uses Bitcoin exclusively. And that is only one website that's been around (and known to the feds) for about a year now unhindered, there is no telling just how many actually exist.

No argument

I'm not arguing for or against Bitcoin. I think that the jury is still out on it. My point is simply that the ragged edges of society generally invest with more gusto, so you can't discount anything that draws the attention of the disaffected.

If it's not decentralized, P2P cryptocurrency

If it's not decentralized, P2P cryptocurrency, it's not "similar" to bitcoin.

Yes

And my guess is those big players will be the same crooks in control today.

I think the problem

people here dont see the bigger picture. Sure the market will lead on to Gold and Silver but this is due to its years of demand. Bitcoin is relatively new but is increasing in Demand. The supply is limited and decentralized so if your not jumping on this bus, your going to miss out big time.

His name is Edward Snowden

What is Capitalism?
http://youtu.be/yNF09pUPypw

Speculation, investment... or SUPPORT

I think the act of "jumping on this bus" is better described as SUPPORT!

If you "invest" any money into Bitcoin, the question to ask is:

WHAT THE HECK JUST HAPPENED TO MY HARD EARNED CASH?

I think you have just become a SUPPORTER of the Bitcoin idea. Quite likely you will have transferred your money into the account of someone who is a "miner" of bitcoins, or who WAS a miner and still has a huge load of them.

In my view, most of those people are the early adopters. They were the ones who saw something in this project, and worked and invested their time figuring out how it all works, and maybe even developed apps, and extensions to make it more accessible to everyone else.

So, now, when their bitcoins are worth so much, they can quit their jobs (with your SUPPORT) and devote even more time to developing and building the Bitcoin infrastructure.

I think this is GREAT!

I support this project MORE than I supported Jessie Benton's fat paycheck!

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

I do Support

Competing currencies.

Also, what makes you think I am acquiring Bitcoin from cash? how do you know im not exchanging a good or service for Bitcoins?

His name is Edward Snowden

What is Capitalism?
http://youtu.be/yNF09pUPypw