8 votes

BitCoin CIA Connection

http://www.youtube.com/watch?v=K5VC58gjnjY

There has been a lot of discussion here about bitcoin, I thought what this guy had to say was worth hearing.

Maybe someone more informed about them can debunk this, or maybe at least answer a technical question for me. I saw the thread where someone proposed a DP mining op. What does that box do? Read stuff off your computer and send it somewhere?



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Good commentary

.

Just count how many times the

guy in the video says "may be."

Regular intake of such stuff corrupts your mind and turn your independent thinking based on solid facts into parroting, anxiety, hysteria and paranoia. Alex Jones is enough. Another Alex Jones is way too much.

deep deep deep undercover

i think their deep cover cia status was blown when they said... yeah sure we have been approached to give a presentation to a well known cia front company. BitCoin CIA Connection, lol. good one.
http://youtu.be/WDvJyGRpozY

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

I have been intrigued with

I have been intrigued with bitcoins mainly as a means of circumventing the current monopoly on money. But I still don't have any and have always had my doubts about them. And now with the dollar price of them making them out of reach for the average person it just seems like why bother.

Just something about them being non-tangible doesn't sit right with me

Good video makes some good points. I would be interested also to see if anyone could debunk the video...

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End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

This Video is all baseless dishonest propoganda

Maybe I'll do a vid debunking it... I've been debating whether its worth the time and effort.

If I may ask What good points did he make..

Could you maybe list 3 or 4 of them and I'll give it a shot right here right now.

Thanks

Why do you need me to recap

Why do you need me to recap the video for you? If you watched it and think it makes no good points it should be rather simple for you to debunk its points no?

-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

It just takes time, but

Which point would you like debunked?

The best lies are the ones that are truth, but twisted.

This video has a lot of dishonest deceptions.

Here's one:

The flash crash that he keeps referring too never happened. It would be like all the silver brokers saying Silver is on sale today for a penny an ounce and then the next day saying "sorry, we were hacked and all the offers were false. No orders will be honored." This is what happened in the so called flash crash and the hacking had nothing to do with Bitcoin technology. The lowest the bitcoin price dropped too after the 2011 bubble was 2.51.

“I’m fully diversified. I’ve got some under the mattress, some under the floor boards, some in the backyard.”

;)

http://www.dailypaul.com/277366/abbey-martin-is-an-absolute-...

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

Thanks that is a good video

Thanks that is a good video and does outline the appealing points of bitcoins. Decentralized currency banks cannot print or track it. Cannot be inflated or taxed etc. Definitely better then what we have right now.

I think the underlying fear is that it is digital and the power can always go out and we don't know much about the guy who invented it. Could there be a backdoor in it etc.? Still it beats the hell out of the current system... Thanks for reminding me why I like them...

I did do a thread here a while back promoting it but got lampooned by the ant-bitcoin crowed on that one LOL.

http://www.dailypaul.com/266313/bit-coins-can-end-banskters-...

-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

No man no back door...

The genius of bit coins is that it is a decentralized person to person network. Every individual has a copy of all of the transactions in bitcoin history; this is known as the block chain.

The system self regulates in that in order for anyone to make a change to the algorithm or encryption it would have to get the approval of EVERYONE who is running the network.

no there is no kill switch, no back door, nothing. No government can point gun to a math problem and say "solve yourself!" lol...

No one can confiscate bitcoins.

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

TO ALL MY FELLOW AUSTRIAN ECONOMISTS:

Please get ahead of the crowd within Austrian Economics and Read the future Austrian Publication on bit coins by Peter Surda. Laissez Faire books will soon publish this Dissertation.

“Economics of Bitcoin: is Bitcoin an alternative to fiat currencies and gold?”

dev.economicsofbitcoin.com/mastersthesis/mastersthesis-surda-2012-11-19b.pdf

Jeffrey Tucker is already talking up bitcoins. Even Doug Casey said they have a place (look it up in Lew Rockwell's cite). Before you know it the Mises Institute will soon give bitcoins their stamp of approval.

Do Your Due Diligence.

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

If strict Austrian economics

If strict Austrian economics can be used to make an argument for Bitcoin, then Austrian economics is not entirely correct.

Can you please tell me whats wrong with Bitcoins

Im just wondering why you dislike Bitcoins so much...

Like if you dont want to use them thats fine but why try and stop others?

Obviously there is value to them... IT does function as a currency. It has a sound platform and is designed as a commodity based currency.

So whats the problem? Why do you have a problem with people using a currency that competes with the dollar? Shouldn't you be glad there is competition?

I dislike Bitcoin because it

I dislike Bitcoin because it shares the same basic problem that other currencies have: it isn't inherently valuable. Some currencies are redeemable for something valuable such as gold, but none are valuable themselves.

Bitcoin isn't a "commodity based currency", that is a ridiculous assertion.

My issue with bitcoin

is the same issue I have with gold. It is much to easy to corner the market when you have a finite resource.

Anyone who has educated themselves PAST believing that gold-backed currency is the answer should be looking at bitcoin in the same light.

Watch Money Masters on youtube and you'll comprehend why.

Money Masters is garbage posing as rational thought.

It has been so thoroughly debunked on the DP it's hard to believe anyone still believes.

Money Masters is stamped witht the Marxist Dialectic Seal of Approval.

Problem: Rich people manipulate money markets.
Crisis: Rich people will oppress us.
Solution: Government Control.

No one asks how the Rich people oppress?

They oppress with the government they create.

The presumed "Problem" is only a temporary issue.

Free includes debt-free!

WE CREATED A MONSTER!!!

http://www.youtube.com/watch?v=jq57BjBVq7o

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

What the heck is this crap?

What the heck is this crap? The kids from this brain dead internet generation are going to be hurting when this thing goes under. Bitcoin is every bit the illusion that is the FRS. If you guys really want to defy the power, why don't you start a movement for real money?

Every currency will eventually collapse, including Bitcoin, for the simple reason that currency does not conform to the form of money.

Bitcoins have no value!

Money must have intrinsic value, because money exists to ease the transfer of equal value.

With no genuine use, there is no intrinsic value. You can do nothing with a bitcoin except sell it.

.

"You can do nothing with a bitcoin except sell it"
Bitcoin has the first decentralized database that is extremely secure and easy to audit for unauthorized changes. This is a first time this kind of technology exists and it has some really cool applications that are also really good for freedom. The only way to access and include data in this database is with Bitcoins. Unfortunately, it will take a few more years before development makes it easy for all to use. It's been very exciting for me to be a part of this development. There's also a concept called "colored coins" that will revolutionize the use of Silver and gold as money. So, you will be able to do much more with Bitcoin than sell, speculate, or buy stuff.

“I’m fully diversified. I’ve got some under the mattress, some under the floor boards, some in the backyard.”

My main problem isn't with

My main problem isn't with the security of the Bitcoin system, though security is always an issue with computers, but rather with the idea of currency itself.

As far as "colored bitcoins" are concerned, I don't see how this solves the problems that currency has. Why not just trade gold and silver directly, rather than a colored bitcoin that may or may not be redeemed?

uhhhh

Can you define money versus currency? Are you under the impression that a FRN has value? Is bitcoin money or currency? C'mon this is fun stuff...

Absolutely.

Absolutely. Money exists to ease the trade of equal value. It has many properties that help it to that end:

Durability. Portability. Divisibility. Intrinsic Value.

Durability so you don't fear it decaying over time.

Portability so you can keep it with you, and take it where you need to pay.

Divisibility so that you can pay exactly what you need to; no more, no less.

Intrinsic Value so you can exchange equally with the other party.

Gold, and silver make exceptional money because they fulfill these requirements perfectly.

Currency is different; it has no intrinsic value. No matter how much you have, it is always worthless. Only by exchanging the worthless units for something of value do you receive material enrichment.

Say I am holding a $20 note in my hand. The note itself, is it valuable? No. It is a worthless piece of paper. I can't even write on it easily. I could burn it for what that is worth. If I had a briefcase full of $20 notes, it would be the same, though I could get a much better fire. I go to the store with my $20 note, and I pick up some milk, and some bread, and I head to the cashier. Now we both know that milk and bread have an intrinsic value; nutrition, that is why I want them. So I give the cashier the piece of paper, and like magic, I am allowed to keep the milk and bread. He gives me even more paper back, and some coins made of base metal.

I got away with defrauding the store of it's milk, and it's bread. All I gave them was a worthless piece of paper. Why? Confidence. The store believes that it will be able to pull the same fraud on someone else, namely their suppliers and employees. Each and every transaction, currency for value, is fraud. You take the loss by accepting the currency, and then pass it on to the next party. Of course, this cycle of immorality can only end badly. When the confidence runs out, when people realize that they've given something for nothing, the whole scheme collapses. Someone will be left holding the bag; they will be left with the loss, and no one to pass it on to.

Instead of inventing yet another system of worthless units, to provide bogus liquidity, why don't we at the DP start advocating for money in the form of gold and silver coinage? That is what man really needs, not Bitcoin.

DDCC,I

Durable, divisible, convenient, consistent, and have value in and of itself.

Ü

lol...

lol...

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

Jeffrey Tucker

In his own words and how his life has changed with Bit Coins:

http://lfb.org/blog/my-new-bitcoin-life/

enjoy!!!

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

Keep in mind

He also has high praise for spookle and facespook.

Fractional reserve currencies.

Is there a difference between a market created and maintained fractional reserve currency and one created by a Central Bank?

The problem with fractional reserve currencies occurs when there are more promises to own goods than there are goods to own.

Wildcat Banks in Michigan hid in the wilderness making it difficult to redeem their gold reserves.

Free includes debt-free!

Here's the connection

Gavin Andresen is the lead core developer on Bitcoin.
He was invited to a meeting at the CIA.

That is the only connection. The CIA is taking notice of this and they are working to understand its implications.

https://bitcointalk.org/?topic=6652.0

“I’m fully diversified. I’ve got some under the mattress, some under the floor boards, some in the backyard.”

Shitcoin

Shitcoin