22 votes

Warning! Dump your bitcoins!

Remember what happened to the Facebook pump and dump scheme?
Remember when bit coin dropped to 0?
There is nothing backing bitcoin execpt computer code. Don't be a chump. Dump your bitcoins before they drop in value significantly.

Example:
What bubble will burst first. The dollar or bitcoin?


http://youtu.be/UX75tiViEjA

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Seriously, No Joke DUMP THEM RIGHT NOW!!!

INTO THIS WALLET:

13YfHbzZ5P6qyQaJ2UAnb56untAMnsZ6oH

... the faster you take action the better!!!

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

I hope we have a big sell off from this

I'll be buying all the way down... !!!

If you want to sell your Bitcoins, Contact me... I'll buy them.

Bitcoin has value because of it's utility as a currency and it's not going anywhere... When Bitcoin makes the Dollar obsolete and people start using Bitcoins for their transactions then it will be evident how awesome a currency this is.

Does it bother you...

that many people will lose huge amounts of money?

(bitcoin is crashing as I type this... down to $33)

.
~wobbles but doesn't fall down~

$41.98

3/6/13 11:09PM EST.

I'm also going to buy All the way Down!

I have more than tripled my initial Bit Coin investment. I'm not gonna lie... I'm happy.

What is best about this post is the Youtube video and how it introduces www.coinabul.com

Coinabul is awesome you can buy silver and gold using bit coins!

Thanks for all of your constructive criticisms. I respect that.

Y'all should check out what happened to this brand new cite:
www.bitspend.net they allow you to purchase at any any online retailer in the world using bitcoins. They launched on Sunday and the response was so overwhelming that they reach their limit of available ordering in 12 hours.

Kim Dotcom also announced that he is gonna compete with french company www.paymium.com on making bitcoin credit cards.

Today www.namecheap.com one of the leaders in domains started accepting bitcoins.

Y'all can insult bitcoins and bitcoin users all you want... I actually appreciate your criticisms.

For the most part Yeah Gold and Silver are # 1. But you gotta admit... Bit coins are pretty awesome!

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

NOW you have my attention, at least.

I kept looking at what I could buy, and it was pretty much only software. If I can buy from online retailers, I might take another look.

Love or fear? Chose again with every breath.

from the front page of bitspend:

"You Guys Broke Bitspend :)

We were absolutely shocked with the immediate response from our launching on Sunday. We received hundreds of orders within 12 hours of launching the site and reached our limit of available ordering.

In the last 24 hours we have made deals which will allow us to re-open in the coming days with a much larger ordering capacity! Bitspend will start taking new orders very shortly. Sign up above, to be notified in the coming hours as we begin taking orders.

Thank you all for your unbelievable support in our first days!
Justin W. - Bitspend.net "

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

Wow, Talk about Propoganda..

Yea, Dump your Bitcoins! Get your self some central banker controlled FIAT currency.

Go take physics 101....

then stare at the verticality of the bitcoin value charts. Your wishful thinking cannot override the nature of the Universe and Reality.

Also, the verticality of the bitcoin value charts plus a rudimentary understanding of the the Austrian school theory of money should cause you great concern as to the viability of bitcoin as sound money...

.
~wobbles but doesn't fall down~

Yea, that's because you put Value in paper Dollars

To me it doesn't matter what price Bitcoins is in Dollars. I value them for it's Utility as a currency. Stated below :"It is extremely useful in facilitating trusted digital transactions. There's really nothing like it that so effectively accomplishes the purpose it was designed for, surely new and better technologies will come along, but bitcoin has proven the concept.

"Try transmitting gold or silver across the internet, you cant. Try making any kind of purchase over the internet without having to trust an intermediary party, or for that matter several intermediary parties. It just doesn't work. If you understand and trust bitcoin, you can transact with another individual with no intermediary, that is valuable to many people.

Bitcoin is has a very specific and important purpose in a digital economy."

You don't know what I "put value in"...

My holdings are mostly land and metals of which a portion I convert to $'s as necessary. Just the same way a holder of bitcoins will convert them to $'s when necessary to conduct transactions.

Except land and metals are real commodities (commodities have use value outside use for exchange -- bitcoin is not a real commodity[see Menger]).

.
~wobbles but doesn't fall down~

I know because you made it obvious

You are looking at the value of Bitcoins priced in Dollars. I'm looking at Bitcoins for it's utility as a currency that promotes liberty. Your a slave to the central bankers. Tell me how it is getting your fudged packed by Ben Bernanke... I'm pass on using FIAT currency, I'll use Bitcoins and fight for Liberty.

Emo propaganda...

and ad hominems. Gee. Care to attack my character instead of impersonally discussing bitcoins much?

Your dog is ugly, therefore you are wrong....

.
~wobbles but doesn't fall down~

Check out The demographics of Bit Coins

Its mostly Libertarian Young Men... Like us!!!

WE ARE THE FUTURE!!!!

http://spacedruid.com/2013/02/26/the-demographics-of-bitcoin...

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

The demographics...

of those who hold (hoard) the vast majority of bitcoins are a very few exchanges and early miners.

"Danger Will Robinson! Danger!!" These vast hoardings are a veritable ticking inflationary time-bomb/monster...

http://arstechnica.com/tech-policy/2012/10/78-percent-of-bit...

http://www.loper-os.org/?p=1009

.
~wobbles but doesn't fall down~

Thanks for the post and links

The more information the better!

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

I have Bitcoins

and they are in exchange account...

So does that mean they aren't mine? You make it seem like just because the majority of Bitcoins are at an exchange doesn't make them belong to me?

Do you have dollars in a bank account? Well under your logic they are not yours.

How about Gold and Silver in an allocated account at a vault? Not yours...

Furthermore... Who holds the most Gold and Silver? Could it be it's exchanges and big time hedge funds and so on... Well under your logic people should be dumping their Silver and Gold.

Pure Hogwash propoganda

You hands down win..

the "most straw men per comment" EVER.

I never even implied you didn't own bitcoins. I quit replying to your comments on the other thread because the only thing you operate in is emotional propaganda and straw men.

A handful of concerns (mostly exchanges and early miners) are sitting on nearly 80% of all bitcoins:

http://arstechnica.com/tech-policy/2012/10/78-percent-of-bit...

http://eprint.iacr.org/2012/584.pdf

The top holders of gold only have like 12% of gold. Gold is widely distributed among small private owners.

http://www.wealthdaily.com/articles/who-owns-worlds-gold/2491

80% of bitcoins sitting in the hands of a tiny group is an INFLATIONARY MONSTER waiting to bust out of it's subterranean prison and wreak destruction (econ 101).

.
~wobbles but doesn't fall down~

Relax man...

There's no need to be so antagonistic here and this go for all of us.

Let's all grow up here and have a civil discussion. We can all definitely learn from one another.

Weebles, I will definitely look into everything you posted and I will pass the info along.

For now, we are all going through a learning experience.

Dude, Whoever thinks they have it ALL figured out just say so.

As for me I welcome any info and I encourage all of you to learn more about bitcoins and Austrian Economics.

I really want to see the Liberty Movement Prosper.

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

Problem is...

I am not upset, so I don't need to calm down. And discussing the qualitative and structural nature of bitcoins is not "antagonistic". Daily Paul is a discussion/debate forum. :p

I commend you for your enthusiasm and support of the liberty movement. Other than opinions on bitcoins I am sure you and I share more in common than not...

.
~wobbles but doesn't fall down~

FOR SURE BRO.

Right now is the time to buy Silver and Gold. I really want bit coins to come down from this current hype to a more stable price; i.e., to buy more.

The crazy thing man is that all these new services for bit coins keep popping up; the the response to them is overwhelming.

www.coinabul.com is very awesome!

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

Don't get emotional about an

Don't get emotional about an investment. Just because young, libertarian guys are buying bitcoins doesn't make them a good investment. Bitcoins have nothing to do with liberty, or Ron Paul.

People will be robbed of their purchasing power when this sham collapses. It wont be the early adopters who were smart enough to get out when the going was good, but someone has to be left holding the bag.

I hope that's not a euphemism for "sucker"

I hope that's not a euphemism for "sucker". My brother's class of older Gen-Xers were all about the dot com rage, and lost their shirts to it.

With bitcoin going bananas at the same time the stock market is luring in the same class of 40-50 year olds with unrealistic price rises as who got suckered in 1998-2000, I hope the new class of Gen-Y investors don't get shellacked here.

"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"

Overall Great Post on the DP

I have more than tripled my initial Bit Coin investment. I'm not gonna lie... I'm happy.

What is best about this post is the Youtube video and how it introduces www.coinabul.com

Coinabul is awesome you can buy silver and gold using bit coins!

Thanks for all of your constructive criticisms. I respect that.

Y'all should check out what happened to this brand new cite:
www.bitspend.net they allow you to purchase at any any online retailer in the world using bitcoins. They launched on Sunday and the response was so overwhelming that they reach their limit of available ordering in 12 hours.

Kim Dotcom also announced that he is gonna compete with french company www.paymium.com on making bitcoin credit cards.

Today www.namecheap.com one of the leaders in domains started accepting bitcoins.

Y'all can insult bitcoins and bitcoin users all you want... I actually appreciate your criticisms.

For the most part Yeah Gold and Silver are # 1. But you gotta admit... Bit coins are pretty awesome!

Sure, Yes they will fall again; that is obvious. But how much will they fall is the main question. That Idk.

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

Bitcoin is a digital

Bitcoin is a digital abstraction of the currency component of money.

It is extremely useful in facilitating trusted digital transactions. There's really nothing like it that so effectively accomplishes the purpose it was designed for, surely new and better technologies will come along, but bitcoin has proven the concept.

Try transmitting gold or silver across the internet, you cant. Try making any kind of purchase over the internet without having to trust an intermediary party, or for that matter several intermediary parties. It just doesn't work. If you understand and trust bitcoin, you can transact with another individual with no intermediary, that is valuable to many people.

Bitcoin is has a very specific and important purpose in a digital economy.

Truth is the Appetite of the Intellect.

Check out our website:

www.themisescircle.org

We have had the Executive Director of the Mises Institute in our discussions.

All of our discussions are on youtube via our google hangout.

We engage all aspects of Austrian Economics and have even had Mises Institutes own Per Bylund on the topic of Swedish socialism.

We have also had 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.

Dude, even Liberty Loving and America's Security Championed Katherine Albrecht has given Bit Coins Thumbs Up!! check out her book Spy-Chips

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

Isn't truth...

...the satiation of the appetite of the intellect?

yeah man I think you're

yeah man I think you're right..

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

Bitcoin will probably have it's place as a currency...

The use-value of bitcoin is what creates its value as a 'commodity'. However the recent price action it is exhibiting, and the instability of it's use-value make it a less attractive alternative to something like gold.
Gold's price stability is key. Buyers and sellers have less of a reason to hoard gold.

Anyways I still like bitcoin, but if it goes up too high too fast it may be a good idea to diversify into other assets & commodities.

9-11 Media Fakery: Did anyone die on 9-11?
http://www.cluesforum.info/

http://www.septemberclues.info/

9-11 Actors:
http://www.youtube.com/watch?v=6aPvJSQtmoE

Pysops.. media.. actors.. propagandists... disinfo agents.. fake videos.. fake photos

DUMP THEM RIGHT NOW!!!!!

INTO THIS WALLET:

13YfHbzZ5P6qyQaJ2UAnb56untAMnsZ6oH

... the faster you take action the better!!!

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