37 votes

Look at the anarchy springing up around us. It's beautiful.

Dollar Vigilante:


Look at the anarchy springing up around us. It's beautiful.

Who would've thought that the consumate anarcho-capitalist and dollar vigilante, myself, would be on CNBC, Fox Business, CNN (soon to go live) and in the mainstream media worldwide. Of course, the main topic was Bitcoin. But what many don't yet realize is that Bitcoin is the first anarchic virtual currency ever created and will naturally lead us down the road to the peace and prosperity of purely voluntary, unregulated transactions (a.k.a. no state...though you should still have gold and if you have a lot of it, you should have it safely out of the reach of collapsing Western nation-states.)

The state will fight it tooth and nail, but this is the beauty of the Internet and the spontaneous order, as Hayek called it, of the semi-free market. They can't stop it. The genie is out of the bottle. The state is dying and true freedom is rising. It's hard to tell that the state is waning, I know, as it aggresses even further upon its purported subjects in its final death throes (which is why we urge you again to get any sizeable stores of gold to a safe haven). But the signs of beautiful anarchy are all around us.


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They can stop it, it just

They can stop it, it just depends on how far they are willing to go. A false-flag or real EMP from NK will wipe-out millions of Bitcoins and its market along with creating massive civil unrest and starvation. A war will then spread across the globe and whatever comes with it.

Much of this spread of freemarkets is stemming from internet and open source concepts, which can be put to a stop by shutting down the internet or highly regulating its use. So, nothing is out of the bag.

There would have to be a

There would have to be a massive EMP that hits the whole world at the same time to knock out Bitcoins, since every transaction is recorded on the blockchain distributed all over the world.

Also remember the US isn't the world.

No. If you have your Bitcoins

No. If you have your Bitcoins stored on your computer, thumb drive, etc. and there is an EMP in your area all those devices are fried and the Bitcoins are lost unless you physically wrote the code down or stored it remotely where the EMP did not affect.

Bitcoins can be lost forever and many already have, just like silver or gold coins can be destroyed.

All the electronic devices

All the electronic devices which held Bitcoin accounts would be destroyed - all of those Bitcoins would be forever lost unless everyone wrote down their code or had the account stored on a computer in another part of the world.

If a situation like that were to hit the US, there would be EMPs going off everywhere, not just the US - Europe too.

Anyway, not trying to be negative just saying that the future of open source, crypto-currencies, DefCad, etc. is not guaranteed. We are far from out of the woods. The files for a printable AR-15 receiver aren't really "out there forever on the internet" - they are only out there so long as our world proceeds on as it is, so long as the government doesn't take it over, that we have high enough living standards to own computers and access the internet, etc. Its naive to think its all a done deal.

One should give a little

credence to the word "blockchain".

Blockchain doesn't matter

Blockchain doesn't matter when the electronic device which stores your Bitcoins gets fried.

Bitcoins can be stored

Bitcoins can be stored offline in a paper wallet.

True, but most people

True, but most people probably aren't storing their coins on physical paper. The result would be the loss of millions of Bitcions and no infrastructure in that particular region to utilize them anyway.


Who is they?

BitCoin is global and not dominated by the US. So when you say 'they', do you mean the globalists?

Yes. If Bitcoin is their

Yes. If Bitcoin is their enemy they are working on a way to stop it or take it over. If the option is an end to their control or total world-wide devastation they will chose the later.

i have been buying silver lately...

i get more silver than Bitcoins for my buck. Buy Low sell high or stack up and let grow.

who you gonna call? Bit busters?


Bought 100oz of silver this week alone.

I bought it with BitCoins. If I go by the amount I spent on BTC, I spent $9 for 100oz(two 50oz Sunshine Mint bars). Not bad. Also, someone(many) is selling silver and gold for BTC.

Btc will not lead us to the

Btc will not lead us to the promised land.

1.) There isn't enough of the fake money to be a competing currency.

2.) It is backed by nothing.

3.) Tptb can just buy it all up and create a bubble, then implode it.

I'm not a bitcoin junky but

I'm not a bitcoin junky but all 3 of your points could hold for anything else that exists in the world.

Bitcoin can be divided up to

Bitcoin can be divided up to 8 decimal places. There are somehting like 1 quadrillion units.

2.1 quadrillion...


100M satoshi to the BTC
21M available BTC according to current protocol.

Other programs, other protocols. Let the competition begin.

BTC is apt for its cybernetic environment, but no good in the physical world.

Shekels are apt for Israel, but no good in Micronesia.

Gold and silver remain the champions.

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West of 89
a novel of another america

100 Satoshi = 1

100 Satoshi = 1 Bitcoin

Currently, 1 Satoshi = $1.60

3) If Tbtb tried to buy it all up the price would rise.

If they destroyed or hoarded btc how could they profit.

If they dumped it on the market, the bubble would burst and the btc would find its market value.

What is the value of a private anonymous data exchange?

Maybe a silver dime? Maybe a copper penny? Anywhere the internet reaches, that a pretty good deal.

But it is a new currency. No one really knows what the value of a globally capable data exchange has.

Even if the value is a penny, just send more.

Western Union charges 5o cents plus the amount for a money order.

A bank wire transfer is $15.

Silver Dollars where backed by silver certificates.

Bitcoin is backed by a service that leverages existing infrastructure. Time will tell.

Free includes debt-free!

We know they are manipulating

We know they are manipulating the price of gold and silver now and have been to stockpile it at a discount. They can manipulate it. Maybe they are right now with the scare of Cyprus and Europe. They see people running to it and see the opening to profit from it and take it down at the same time.

I am taking advantage of the lower price of precious metals, a real commodity. Not a made up bunch of numbers.

The double whammy.

Austrian Money supply shrank as prices have fallen.

Low prices but no currency around because the Fed throttled the supply. Mike Pollaro tracks Austrian Money supply that was described by Rothbard and Salerno.

Say if someone wanted to transfer a part of their stack to Peter Schiff's bank on another continent, anonymously.

Or buy some land with gold in South America. Bitcoin promises to make that simple. Can it live up to its promise? What value would this service have?

Heck, I transfer currency when I write a check. It works, but the cost of clearing the check is not zero. The cost of check fraud is not zero.

Operations on wealth: Make, Trade and Keep

I also Keep metal. I am looking for cheaper ways to Trade it for things I can eat.

Free includes debt-free!

Actually you're wrong.I get

Actually you're wrong.

I get the same feeling as you when I read the OP, and they are obviously taking it to the extreme and likely to get burned, it's almost cult-like at this point.

But BitCoin IS real money. It is backed by the same thing as gold and silver: scarcity. It is a very elegantly designed and legitimate currency. You should read the report the Misis institute recently released.

But anyway, yeah, it is not going to lead us to the promise land. Plenty of "real" currencies have failed, yet the fake ones live. There is a chance it could be a really good thing though.

Freedom in our lifetime! - fiol.us

I second the Mises

I second the Mises Article.

Here it is: http://mises.org/daily/6399/The-Moneyness-of-Bitcoins

1) Fake money? Please tell me

1) Fake money? Please tell me how BTC is fake money. What makes something fake and what makes it money?

2) What is gold backed up by? Silver? Paper? Value is in the mind, ask any deer or squid what value gold has and you will quickly find what "inherent value" means. Squat.

3) If you know anything about economics, you will understand that when there is a limited quantity of something and a large purchaser wants to step in, the price rises in proportion to that. Are "TPTB" really going to start purchasing massive sums of bitcoins, only pushing the price to 10,20,30K a coin? It isn't feasible and it won't happen.

gold and silver are mined

and Bitcoin is mined.

Gold and silver is needed for technology and jewelry as well as money standard.

Bitcoin is thin air.

have you ever been to a gold mine?

Do you have any idea how destructive gold mining is????

Anyway, bit coins are better than gold in the sense that there is a constant amount, an upper limit. Gold is variable because someone can just find another gold pocket somewhere in the earth and mine it and up the quantity. There is uncertainty to the new supply.

Answer his

ghostbuster's question.


"The business is definitely ruined, all Cypriot workers to be fired."


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






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

I was delightedly surprised to see Jeff on MSM networks.

Things are looking up!

Check out the Laissez-Faire Journal at LFJournal.com

"The State is a gang of thieves writ large." - Murray Rothbard