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Bitcoins are Worthless?




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I am investing in Tulips

I think they could be the next big thing. lol

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

Value does not inherently

Value does not inherently exist in nature.
Human beings act.

All value derives from human action.

Good stuff

I think that perahps it's subjective valuation about needs & desires that compels human action in the first place.

Kind of a chicken-or-egg thing.

My follow-up is inherent

My follow-up is inherent programmed desire compels uncertain action which can only be subjectively valued once there is a result set processed by the perception of human sensation and stored in the warehouse of life experience.

A baby desires and it cries ...

$100

bump

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
My ฿itcoin: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

bitman

bitman • a day ago

Hey Jerry! I enjoy your videos but I think here you are leaving out some key features of bitcoin not shared by dollars - bitcoins are actually IMPOSSIBLE to counterfeit - because the asset that bitcoin is backed by is MATHEMATICS, the math of cryptography. This has lead to a means of exchange that provides for USER DEFINED PRIVACY in transactions - something unavailable to the use of credit/debit cards and paypal in online transactions. I see bitcoins more as tokens of a payment protocol which merges the traditional meaning of money, which is, as you have eloquently described, perhaps the first financial derivative product - representing the value associated with arbitrary barter exchange. ALSO: bitcoins cannot be seized - if a user's computer resources are seized - there are protocols for storing the generating seed for the private keys of a bitcoin wallet offline either on paper on in your brain (memorizing a phrase for example). In the 21rst century the most scarce commodity is PRIVACY but bitcoin provides a solution to this. As a payment protocol bitcoin i revolutionary because it can potentially remove counterparty risk and the need for trust in transactions - for more on this see the work of Mike Hearn regarding bitcoin enabled "smart property". Peace
http://www.thebitcoinchannel.com/archives/1688#comments

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
My ฿itcoin: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

counterfeit...

Impossible is an awfully terrible world to live in. BTC may be difficult to fabricate, but Im guessing that a ton of different named coins are coming out with values artificially pegged to btc. These 'co(i)ns' then take there earnings either in BTC or cash. Kind of gives me the 'counterfeit creeps'.

Simply put, a hound dog has been introduced to guard the fox inside the henhouse. The only winner I see is the person who tied the dog to the tree, built the chicken coup, and has a nice collection of pelts.

Where am I on the pecking order? Well, if I dont know, then I must be chickenfeed.

Im having a difficult time understanding how what is presently occuring with virtual currencies is any different than what goes on behind the curtain in wallstreet and banks. I looked into this as an awesome investment opportunity. However, I ran across things that really make me question just who is really here to make a profit or actually make advances in freedom & liberty through the legislative process while adhering to their morals.

I also wonder how much further these digital currencies will effect the CPI? If it gets too bad then should I anticipate price/wage controls to be implemented.

I dare say I smell a terrible scam. The concept was a cool idea, but its utilization currently has me questioning the moral turpitude of many involved. Many will share this sentiment in time. Many will demand centralization and regulation. And it will happen.

;)

"Impossible is an awfully terrible world to live in."

Great quote there man.

I use Blue Wave, but don't expect one of THEIR silly taglines.

Thanks.

Not sure who said it first. But I believe it falls in line with my Jedi training.

:)