The Daily Paul has been archived. Please see the continuation of the Daily Paul at Popular

Thank you for a great ride, and for 8 years of support!
3 votes

Bitcoin Debate- Silver Shield vs. Brother John F

Bitcoin Debate- Silver Shield vs. Brother John F

A debate on whether the Bitcoin is a Fiat currency or not, compared to Real Silver .

Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

I still don't get your

I still don't get your reasoning of this. What are you buying across the planet with "bricks of metal" that you can't buy domestically? What would cost "bricks of metal" but is easy to ship globally? Digital money is not real money. You can't even hold it in your hand. It's some niche tool that will just die when people realize the internet is best used as a tool for information and not a place to live.

Please come join my forum if you're not a trendy and agree with my points of view.

Either way

I frequently purchase from NewEgg, which is in California, IIRC. I'm in the midwest. What's easier? Less expensive? Faster? Sending bitcoins, (which is like composing and sending an email) or sending PMs?

Again, that's if you're a

Again, that's if you're a reclusive person afraid of doing business face to face and supporting your local stores. When did I say you have to send PMs? What is wrong with a paper backed by metals, or even backed numbers in a bank account? Why are you afraid of real money? The only thing that needs to change is to get rid of central banks. People are going to get sick of this internet fad. It's cool for stuff like information, but it's not an economy.

Please come join my forum if you're not a trendy and agree with my points of view.

Price, competition, ease

If I can easily comparison shop, find the best product, find the best price, easily, from the comfort of my home... That's just smart shopping, and I don't think it's a fad.

I'm certainly not against local stores for some things. Namely produce. But when I'm buying a new hard drive, there's no meaningful advantage to me as a consumer to buy locally when a greater array of choices (and competition) exists at my fingertips via the internet.

If you believe the internet economy is a fad, then Bitcoin is not for you.


Also, I have a worse time trusting paper-backed PMs. Who prints the paper? Who controls the supply?

With Bitcoin, you don't have to worry about that.

Another "also": Bitcoin actually *can* be abstracted into physical form (see: Casascius coins), though in comparison, it's much less efficient.

Yet another "also": Bitcoin can most certainly be used in local exchange as well. Not sure if you thought otherwise, but there are some bars/pubs that offer a bitcoin payment service where you just scan with your phone and send them, even though you're 12 inches apart.

Central banks control the

Central banks control the supply, but I made my point that they were problems. Money is not supposed to be controlled by banks. Banks are immoral. The treasury has every right to mint money, but the supply is only supposed to be inflated through acts of Congress. You can't say that the concept of that money is flawed because people don't follow the law. No, the people not following the law are flawed.

How much does it cost to have a smart phone? Is the service free? How about a home internet connection? Is that free? Nope. It never will be. Real money costs what it costs. You don't need to purchase services to use it. If you used some public internet like at a library, it still costs tax money to run.

Please come join my forum if you're not a trendy and agree with my points of view.

Two things:

1) I believe that not even congress should have the power to print/mint/create money. Why should another entity have the power to decrease my purchasing power against my will? Those are the fruits of my labor! Inflation is theft!

Bitcoin cannot be printed past the 21M units, period. I think this is a good thing.

2) Every currency has costs. How much does it cost to buy a purse or wallet? A bank account? Own a safe? Guns and ammunition to protect said safe?

As I've said before, Bitcoin doesn't necessarily require "the Internet" (though it certainly makes it easier). Any device capable of speaking the TCP/IP protocol will do, and those are a dime a dozen these days.

The other thing you said, that the Internet "never will be" free, is also false. I don't want to get into the technical details, but Mesh Networks are an impending future, and they circumvent ISPs, making internet avaialable to everyone for the cost of powering the device. So it won't be absolutely free, but certainly competitive with the cost of using conventional money. And with it's utility, certainly worth that cost. It already is.