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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Quantum Computing would have zero net effect on Bitcoin

Quantum computing would make the current cryptographic hashing algorithims used by bitcoin obsolete immediately, but bitcoin is designed to be modular. When the day comes that the algos in current use are no longer trustworthy, the bitcoin protocol includes a built-in upgrade path to more secure future algos. Yes, even this was considered early on.

As long as there remain

folks who don't know how to acquire/store/access/use Bitcoins, then the concept of Bitcoins is a problem. Why would anyone create a currency that is not easily understandable by all? Not to mention its perpetual link to "cyberspace" and how that can ultimately be manipulated by hackers.... Gold and silver for me, please.

"Always vote for principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost." -John Quincy Adams

It is a matter of EDUCATION!

That is why I am posting these things here... I actually don't care so much about this on a personal level... it really doesn't matter to me how many people "catch on" here, but I LOVE the Daily Paul so much, I thought I would do my little bit to "educate" those who are ready for it.

Interestingly enough, I found out about Bitcoins RIGHT HERE, while reading comments to a post (that was back in March 2011) Bitcoins were $0.30 each, and because of complicated distractions at the time, I didn't bother to just go and INVEST in it a few hundred dollars (which I wanted to) at the time... so I ended missing that boat completely!

I did buy 10 of 'em through coinPal.com (this was a service that offered easy purchase of bitcoins using paypal) by the time I got around to spending time buying them, coinpal was shut down (Paypal stopped allowing purchases of Bitcoin!) :)

Anyhow, I just hope folks here learn about it, and get onboard if they want to before it goes up to.. well, who knows where it will skyrocket to...

Lemme tell you though, I am sure the "skyrocketting" has not happened, yet!

IT IS COMING SOON! :)

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

And that is why it won't work.

Gold and Silver don't require education. (hard to believe right?)

What requires education about Gold and Silver is that paper isn't the same thing as them.

Sadly, people are that stupid that they think a piece of paper with the word "dollar" on it, magically transforms it into a dollar.

But you don't need to educate them about it. They'll learn it all on their own as they go hungry shortly.

You don't need to know anything special about Gold and Silver coins to use them. If they are available and in circulation - people will circulate them. If they aren't in circulation, people won't use them.

It's that simple.

The only thing preventing Gold and Silver from circulating again is the FED.

Actually, gold and silver

Actually, gold and silver would require some education, because the vast majority of the public have no experience in recognizing a real coin; and would have to consult an expert or Wikipedia anyway. That learning curve might not be difficult, but it is real, and would be an issue if we were to ever had a SUDDEN need to change our monetary system. Bitcoin does have a steeper learning curve, with the current clients, but that can be expected to be mitigated as the economy grows and more user friendly clients are developed. The one I have on my android phone, BitcoinSpinner, is as easy to use and understand as any other android app; so if you can manage a smartphone you can use bitcoin.

So what do people do that don't have smart phones?

Or any cell phone?

How would I go into a store and spend them?

WHY would anyone accept them?

The only reason people accept digital blips today, is because they think they eventually will get something real.

If they know nothing is really there, but merely vaporous electrons, why would they ever trust they would receive anything?

Exchange takes place because both parties think they will benefit from a transaction.

You have to solve that problem first.

You are attempting to jump the gun of what a transaction is. You're attempting to intermediate a transaction and making an assumption it would take place regardless.

But the market doesn't work like that. And it will never change. It can't. Because it isn't abstract. It IS people trying to fulfill their unlimited needs, wants, and desires.

"Trust" doesn't need to be there for gold and silver. It does need to be there for BitCoin. And it never will be because it isn't real. Thus you'll never achieve any significant level of trust to enable its widespread adoption.

This is a rediculous comment...

...because your view presumes that most people would trust the guy with the physical coin but not the digital one, because one provably exists and the other is an abstract concept. The reality is that the vast majority of people have next to zero concept about how fiat currencies actually "work", yet have no trouble using them daily. I don't know if Bitcoin will ever be quite so successful, but I do know that it does solve a very real market problem online, and therefore fills a previously unaddresssed niche. One that gold cannot, despite honest attempts to do so. I know how Bitcoin actually works, and that is why I trust it; but trust is not required for the average user, and that is the point. If you don't trust it, feel free to never use it. Perhaps you never will, but I believe it more likely that, by 2020, there will be many more Bitcoin users worldwide than Paypal accounts today. If you have a Paypal account, you'll be using it (at least occasionally) to buy stuff as well. Perhaps you never will do so in meatspace, but some certainly will. Half of the Free Staters already do.

I agree with you 100%

However, I think that making the the technology more accessible to people that don't generally use or like or even touch computers is necessary before there is major adoption. I consider myself pretty educated in the realm of computing I can build a website I can create excel macros I can code a little bit in Python. However, I still find that keeping a Bitcoin wallet is a little bit of a pain. I have used Bitcoins before, never owned more than two but I would always have an issue keeping a Bitcoin wallet and would delete the program and forget where I put my wallet.dat file. These are things that need to become easier for people. Users of Bitcoin need to be able to access there money from multiple computers for instance if you are using a public computer from a library with a lot less trouble. Once those things become easy for everyone I think you will see a huge jump in Bitcoin usage. Unforutately the Bitcoin client is still in beta mode its version number hasn't even reached one yet so in reality we are just playing with an experimental product. I do have a lot of hope in Bitcoin.

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    I agree with you too!!!

    It is exactly because of the TRUTH of the current "difficulties" of bitcoin, that for those who wish to INVEST... it may be a very interesting option.

    Once it is easy to use, and basically a "boring" topic, Bitcoin will have succeeded, and the chance to gain from "early adoption" dwindles.

    I for one know that by "investing" in this IDEA I am not supporting the warmongers, instead, I am making an effort to better the world, and supporting those who are toiling now to make it more accessible to everyone later.

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

    Because most libertarians are still thinking inside the box.

    I too, was hung up on gold and silver after having listened to Ron Paul and Peter Schiff ten thousand times. It took me two years before I was willing to give Bitcoin a chance.

    I dare to say that libertarians actually have a HARDER time wrapping their heads around Bitcoin than the average person. Which is really sad, because libertarians are usually head and shoulders more intelligent than most people.

    Bitcoin is counter-intuituve for libertarians. But I have definitely noticed an uptick in the number of libertarians using Bitcoin. So, we're getting there, slowly but surely.

    Bitcoin is great but...

    The security of its value is based on how it is created, which is essentially an encryption algorithm. That algorithm is pretty much unbreakable now. That does not mean that this will always be true.

    Bitcoin is not fiat money. It is not issued by a central bank and I don't know of any government that has recognized it as legal tender. Its "print" rate is fixed by the mathmatical algorithm from which it is generated.

    Stick with gold and silver, something you can hold in your hand.

    I am confused, you seem to list it's good qualities...and

    and then you say "forget about it" (?)

    Not issued by a central bank: GREAT!
    Not legal tender: GREAT!
    "print" rate is fixed: GREAT!
    It is mathematical, thus TRANSPARENT: GREAT!

    These are mostly things you could say about gold and silver... why are you so scared about Bitcoin... i just don't get it.

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

    ecorob's picture

    its a distraction...

    when the dollar fails, bitcoin also fails!

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

    Yes, it is a distractioin,a GREAT DISTRACTION...to the FED et al

    If the dollar fails, Bitcoin will not fail. I am really sure about that!

    The Dollar is just one currency, bitcoin is exchangeable to a whole bunch of currencies

    http://bitcoinwatch.com/

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

    Please explain your reasoning...

    How does bitcoin fail when the dollar does? The only relationship that bitcoin has with the dollar is that it could currently be exchanged with dollars. If everyone on DailyPaul embraced Bitcoin, we would be weakening the financial establishment's stranglehold that we are currently railing against. Maybe y'all think sign waving rally's will bring an end to this corrupt system, or how about mailer's?

    ecorob's picture

    if the dollar fails...

    i'm NOT just talking about the dollar failing

    i'm talking about the grid failing, the supermarkets being emptied, and no gas to drive your car, if you had anywhere to go!

    bitcoin?

    what the heck will that do, then? nothing!

    people will revitalize the dollar before they would accept bitcoin...

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

    I don't agree

    It is a bit of a HUGE unknowable as to what will happen during total failure of everything... but I would not like to be a target to any roving bandits looking for gold/silver.

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

    we're ok with competing

    we're ok with competing currencies but that doesnt mean we like all them. Bitcoin is fiat currency really, we are against that.

    Bitcoin is NOT fiat

    There is a lot of information "out there" about how and why bitcoin is not fiat. Here is a good short explanation:

    “Bitcoin is ‘regulated’ by its peers and mathematics. And Bitcoin is not a currency like fiat money. It is a value transfer system which is given value only by its users. So the ECB, FED, etc. have no mandate to control a ‘virtual currency’ just because they call it (bitcoin) that! It will just go underground. Bitcoin is like Light and Air. Free to use and transfer. Owned and issued by the people and NOT the State!”

    Source:
    http://www.forbes.com/sites/jonmatonis/2012/11/03/ecb-roots-...

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

    Who controls it is irrelevant to its NATURE.

    WHAT is it?

    That tells you if it is fiat or not.

    Is it a commodity? No.

    Then it is by "decree." It is purely fictional and abstract. Therefore, it is "fiat."

    I find BITCOIN intriguing.

    Having no experience with it and no knowing anyone who has, I really don't know if it works or how it works. The thing I find attractive is the idea I can carry my BITCOIN account on a thumb drive and carry as much cash as I have across international borders in the form of BITCOIN and the border security will not confiscate it like they would cash or precious metals.
    It will definitely be a useful tool if ever I have to flee with my family.

    [F]orce can only settle questions of power, not of right. - Clyde N. Wilson

    Search Bitcoin

    You can learn a lot about Bitcoin right here on DP but there is also a lot of info on the net.

    There are videos and professional writers dealing with the ideas behind it.. or you can start here:

    https://bitcointalk.org/index.php?topic=7269.0

    or if you like Max Keiser, watch this:

    https://www.youtube.com/watch?v=kEHIOi8iXqE

    or watch this video on the AMAZING FUTURE POTENTIAL OF BITCOIN

    https://www.youtube.com/watch?v=mD4L7xDNCmA&feature=channel&...

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