2 votes

Bitcoins $60.00... Rises while FIAT currency continue to fall

Hey Everyone,

Back here with an update on Bitcoin. It's trading at about $46.50 this morning and as I predicted well on it's way to $100 and over. Who would have thought that a currency modeled on principles held within the Austrian school of economics would flourish against those FIAT paper currencies that those Keynesians love so much.

I know for some, Bitcoins is a concept so far removed from the current paradigm it's difficult to make the mental leap. Those people will get left on the side of the road, for your own sake do some research and try to understand the mechanics behind it. If anybody should be on board with this it's libertarians. It is really an ingenious and Revolutionary concept. What's so exciting about it is we still at the beginning of it all.

Online retail stores are just beginning to accept Bitcoins. Other business are opening the doors, exchanges are opening up, and eventually it will become more popular than any FIAT currency.

Fight for Liberty use Bitcoins

http://www.iexpats.com/2013/03/bitcoins-hit-peak-as-real-cur...

http://www.forbes.com/sites/saranyakapur/2013/03/05/bitcoin-...

http://blogs.barrons.com/emergingmarketsdaily/2013/03/05/mee...

http://www.techweekeurope.co.uk/interview/bitcoin-the-curren...



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As they buy up bitcoin,

The price will sky rocket. You cant buy it all up.... And if they were to try, they can have mine at something a lot higher than I bought it for.

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

They could

The FED could do that. But it would cost them $1.2 trillion at todays rate(assuming that suply:demand is not an economic law all of a sudden, and the price remains fixed, which in reality, if they start buying BitCoins, the prices would go up considerably). Also the beneficiaries would be the BitCoin holders, not the FED. So what's wrong with that?

Bitcoin =/= store of wealth

Bitcoin should not be used as a store of wealth. It's meant to be used as currency only.

If a cornered market affects your ability to transact in Bitcoin, "ur doing it rong."

But how do you expect people

But how do you expect people to use it as a currency if they buy some bitcoins for a transaction and then in a few minutes the value has increased 10%? or is decreasing as they are looking to buy? You can't expect people to want to convert into a volatile market like that, which is why in the near term I see a collapse harder than the previous.

The markets adjust in realtime

The markets adjust in realtime. It's up to the two parties on consent.

Bitcoins Rising

I had a feeling we would see a jump due to what happened in Cypress. It feels good to hold a currency that can't be centrally controlled!

Amen, Brotha.

These guys just don't get it. Gold is great for privacy, but I refuse to give up the convenience of buying whatever I want from whoever I want, whenever I want online. Bitcoin, baby.

I'll let you guys have all

I'll let you guys have all the bitcoins. I'll stick with my US currency...

pre 1965 silver coins, that is.

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

Nice bro!!!

I have yet to find the first person that has more money invested in bit coins than in silver or gold.

COMPETING CURRENCIES BABY!!!

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

Bitcoins really shouldn't be

Bitcoins really shouldn't be used as a store of wealth, IMHO, that is not what they were designed for. They are design specifically to facilitate peer to peer transfers of value over the internet, and they are unmatched online in their ability to accomplish this.

But holding bitcoins as a store of value is probably not a good idea. Although there are some opportunities for arbitrage if you want to take the risk, because the price is so volatile.

Gold and silver are good ways to store wealth, but they cannot be transmitted over the internet.

Prefectly stated.

+1

Gold & silver are not a

Gold & silver are not a currency, even when made into coinage. Gold & silver are money, and are completely apart from Bitcoin and FRN, which are much the same.

Thank you for engaging the

Thank you for engaging the discussion without hate. I appreciate your information and I will sincerely see it.

I really do hope you also learn from what I post.

In regards to Austrian Economics I belong to a reading group called the Mises Circle. We engage all aspects of Austrian Economics and have even had Per Bylund on the topic of Swedish socialism and Peter Klein, the Executive Director of the Mises Institute on the topic of Entrepreneurship (we look forward to having him back.)

Peter Surda- who is associated with the Mises Institute- is the man when it comes to Austrian Economics and Bitcoins: laissez-faire books will soon publish his work.

You can visit our site and read our articles on Bit Coins at:

www.themisescircle.org

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

Enough of this NONSENSE

Please find some other place to find suckers for this fad currency. I'll have you know that Bitcoin not having legal tender status is a point in its disfavor. Bitcoin is a confidence game, from beginning to end.

Bitcoin is nothing, is backed by nothing, and its market value will return to nothing.

Bitcoin is completely immoral, in the same way as any other currency. Having no value, when you exchange it for a good or service, you are not exchanging value for value, but the possibility of value, for value. You have not paid in kind.

"legal tender status"

I don't need government to tell me what is an isn't a currency, nor do I need their permission to use it as currency.

BREAK OUT OF THE BOX.

I never said that. I said all

I never said that. I said all currencies are bad, fiat or free market.

If someone wants it, It has

If someone wants it, It has value, Try again.

I dont even remember how much World of Warcraft gold I farmed for kids back in school for their allowance.

DEMAND = VALUE

Nonsense! Demand != value,

Nonsense! Demand != value, and it never will. Demand can bring higher prices, and supply, but why would you equate this with value?

The demand for Bitcoins is based on confidence that Bitcoins will continue to appreciate. Bitcoins themselves have no genuine use. Genuine use is the base of value. You can't have value without genuine usefulness. What can you do with a Bitcoin besides sell it?

Digital currency is even more useless than paper currency; you can burn paper currency. Bitcoin might be the most useless currency ever; it is certainly worthless in any case.

I'm not a bitcoin fanboi

I'm not a bitcoin fanboi because I don't understand it well enough. However, I'm curious about it because of it's usefulness. A bitcoin is utterly impossibly to be taken or spent by anyone other than the owner, without breaking into their computer or something. A bitcoin can be transferred completely anonymously over a peer to peer network. The only person who has any knowledge of the amount of bitcoins any one person has is that person who owns them.

Also, the bitcoin network has an interesting side-effect that I'm playing around with.... it can send anonymous, encrypted messages.

(I work in IT, not crime, if you're wondering. haha)

Sam Adams on bitcoin

If you care not for the principles of economic freedom, take your bitcoin an distance yourself from our movement, may your money hold value, and may you not be abused by those who would corner or hack the system, and we will forget you were one of us.

... dude

What arrogance for you to define the liberty movement. (reminds me of the FED's arrogance in defining the economy.)

Yes everyone listen to Anthony he knows more than the rest of us about what it means to be part of the liberty movement. Yes Anthony is right to insult individuals within the movement and to divide the movement by spreading hate.

All hail Anthony and his idea of libertarian purity; for Anthony is one of the supreme bearers of such truth...!!!

May all hail and adore the divine words of Mr. Anthony for he is not at all fomenting hate and aggression...

(sounds more like you are a provocateur)
Good luck with that.

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

Come ON People...

Please just take the time to learn about bitcoins.

Here is a good rundown to start comprehending Bit Coins.

The Following 2 are great introductions:

This is a great forum:

www.bitcoinmoney.com/

This is a great pod cast:

www.omegataupodcast.net/2011/03/59-bitcoin-a-digital-decentr...

Services:

www.bitspend.net

www.bitpay.com

www.bitinstant.com

www.localbitcoins.com

Sites:

www.weusecoins.com

www.bitcoincharts.com

www.mtgox.com

www.elbitcoin.org

The software options:

www.multibit.org

www.bitcoinarmory.com

www.bitcoin.org

www.electrum.org

www.blockchain.info

www.strongcoin.com

--> at least learn what your 'arguing' against.

www.dailypaul.com/276948/help-this-mutual-learning-experienc...

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

If you would allow me the honor

Here is some reading material for you as we'll, so you know what information you go against.

"What is Money?" with Joseph T. Salerno -- Ron Paul Money Lecture Series, Pt 1/3
http://www.youtube.com/watch?v=vowbrq_g5NM

"What is Constitutional Money?" with Edwin Vieira -- Ron Paul Money Lecture Series, Pt 2/3
http://www.youtube.com/watch?v=k6gMkKmQSW4

"What About Money Causes Economic Crises?" with Peter Schiff - Ron Paul Money Lecture Series, Pt 3/3
http://www.youtube.com/watch?v=npJ0CUT8d_

This is a good place to start.

Your part 3/3 is broken (or it was for me)

Here's a link that works -- this is Peter's turn-at-bat

http://www.youtube.com/watch?v=npJ0CUT8d_Y

As I look at your link it's missing the "_Y" at the end

Im not being sarcastic anymore.

Thank you for engaging the discussion without hate. I appreciate your information and I will sincerely see it.

I really do hope you also learn from what I post.

In regards to Austrian Economics I belong to a reading group called the Mises Circle. We engage all aspects of Austrian Economics and have even had Per Bylund on the topic of Swedish socialism and Peter Klein, the Executive Director of the Mises Institute on the topic of Entrepreneurship (we look forward to having him back.)

Peter Surda- who is associated with the Mises Institute- is the man when it comes to Austrian Economics and Bitcoins: laissez-faire books will soon publish his work.

You can visit our site and read our articles on Bit Coins at:

www.themisescircle.org

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

What is your point?

Who is comparing Bitcoins to Money?

Bitcoins is a currency...

Bitcoin rises?

against what? I believe the dollar is of diminishing value, true, and so it is falling and will take more notes to purchase a bitcoin. But your OP says not only is the dollar falling, but Bitcoin is rising, why is it rising? Is it increasing its value across all asset classes or something? I want to understand how a bitcoin can "rise" in value, outside of dollar inflation. Are they becoming more rare? Or do you just mean the price is being inflated? Are you referring to two different things or is the OP just redundant?

I'd rather have a bottle in front o' me than a frontal lobotomy
www.tattoosbypaul.com
www.bijoustudio-atx.com

Well

I can buy 7x the amount of silver than I could a 6 months ago, So yea... As long as things are priced in Dollars Bitcoins will gain in Value. But even when Bitcoins makes the dollar obsolete Bitcoins will continue to rise in Value because it's a deflationary currency. It mimics Gold and Silver.. So you will see goods in services in Bitcoins become cheaper over time.

Here's a really interesting article:

It's about Bitcoins, Tor, and the Deep Web
http://www.businessinsider.com/tor-silk-road-deep-web-2013-3

Keep in mind...

The fed is spending 85 BILLION a month. 85 BILLION.

There are only about 150k people using bitcoin. Yes it's parabolic, but, there is only a small fraction of people using them...