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Bitcoin and Byte-Turd Have A Lot Of Competition

Looks like a lot of Digi"coin" out there...

Bitcoin
LiteCoin
e-gold
e-dinar
Pecunix
Ven
Ripple
IXcoin
MicroCash
BBQCoin
PPcoin
Terracoin
Freicoin
Novacoin
RuCoin

If its so easy to start these "___- coins"...how on earth do they have value? In another 6 months will there be twice as many? In two years will there be a hundred different kinds of digi-coins available?
To borrow an Agenda 21 term...how is this "sustainable"? Makes me actually think Byte-Turd is a feasable digi-coin.As you can see they already have "PP"-coin. lol.
http://en.wikipedia.org/wiki/Digital_currency




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I don't

know how long they will have value, but as long as I am still able to buy silver coin and bullion with bitcoin I'll keep using it.

The bold effort the present bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it-Andrew Jackson

You forgot ByotchCoin and SuqMyDinar

You forgot Holy and Blessed Chris Dorner's gift to da Hood: ByotchCoin! Not to mention Warrior for the Faith Dzhokhar Tsarnaev's cryptcurrency for global jihadis, SuqMyDinar!

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

With the lack of Rights for females in the middle east...

we cant forget the "Maque-Mah-Dinar".

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

I bet South African digital money RandBytes ain't popular here!

And I bet the South African digital money RandBytes ain't popular here, but it ought to be added to the list.

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

Competing currencies

Most of the other crypto-currencies have features that are different from Bitcoin. Is that not something we should ENCOURAGE?! Take a great idea (a theft-proof, inflation-proof, counterfeit-proof currency) and try to make it better.

So yes, it's easy to start these alternates, but what's difficult is differentiating them from Bitcoin. And if the alternates aren't different, then what wide-spread attention do they attract? Bitcoin has a "first-mover advantage," which makes it difficult to topple, but some of the alternate currencies are, I believe, BETTER than Bitcoin (i.e. Litecoin). Yet, by comparison, the exchange value of many of the alternates are mere fractions of bitcoins. To proclaim that the market is "flooded" with cheap knock-off coins is disingenuous. Yes, there are alternates, but with the exception of a few real innovators, no one takes them seriously... outside of gambling on what amounts to a penny stock, and there ain't nothing wrong with that.

ROFL NICE. ByteTurd, It's catching on!

People know value when they see it. ByteTurd will win in a free market of digital currencies. Who wouldn't want to have a few ByteTurds to show their friends and trade for something of value?

ByteTurd is better than BitCoin. In fact, it's being heralded as BitCoin 2.0. BitCoin is backed by nothing of value, unlike ByteTurd. Not all digital currencies are created equal.

Imagine the perfect system of digital currency, but each digital "coin" actually represents something of value that exists in the real world. If it doesn't, than it's just a pyramid scam waiting for a bunch of confidence men to rush in and sell it to suckers.

If somebody has undying confidence in the fact that "nothing" is a good way to store and exchange value, I suggest you take a good hard look and see them for what they are; a conman preying on you and hoping you'll invest in nothing.

Why does Skype have value? It's also a peer to peer network

For the millionth time.

Bitcoin has value because there is a network supporting it with 9 billion in processing power. Yes, there are other crypto currency networks. This is a good thing. Ultimately, the capital will flow into currencies that it is treated the best. Is there more than one social media site? Yes. Does this mean that Facebook has no intrinsic value? Having more than option also makes it nearly impossible for the government to shut it down. If they go after Bitcoin you can simply move funds over to another crypto currency.

Crypto currencies create wealth or value because they enable purchases to be made absent of banking and credit processing fees and offer privacy of transactions.

Store and save Gold and silver is money. Buy and sell goods and services with Bitcoin. This breaks the monopoly.

The Red Coats are coming!

sorry, facebook and social network sites have ZERO value

just like these digi-coins are junk. I dont care if you say it a million times or ten million times. They have no "intrinsic" value. Just because you say it a lot, doesnt make it so. Its like gambling, or stocks, but not like money.

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

Facebook Earns millions in advertising revenue

And is a publicly traded stock. No value? You are delusional.

The Red Coats are coming!

not intrinsic value...how about Myspace?

Facebook is good until the next social network takes its place. Facebook cannot act as real money. How many people traded money for facebook stocks and lost their ass? we are talking about digital "coins" posing as real money. Tons of things have a value...doesnt make them money.

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

Who cares about what a

Who cares about what a dictionary says. Truth is, after 4 years in existence I can buy just about anything I want with Bitcoins. Gold and Silver not so much and they have been around for 1000's of years.

Not only that but Bitcions have increased in value about 200,000% in 4 years.

Bitcoins are very useful. Gold and Silver, might be useful to industry, but not for the common man wanting to do commerce in this global economy.

Sure there will be other coins out there and the market will decide which ones to use. If anything having the option to trade in other crytpos from Bitcoin will help stablize the price so it can work as a currency better.

Maybe Bitcoin doesn't fit your definition of "money" so what? Does not mean it isn't useful.

Just the marketing

Just the marketing information contained within Facebook is worth hundreds of millions. Information always has value.

Other than that it has value for advertisers as it has a large user population.

It might not meet your approval but there is no denying it has intrinsic value.

extrinsic value, maybe

Facebook started as just code, or 1's and 0's...once someone arranged them into a social networking site they developed "extrinsic" value.

Extrinsic value is the portion of an item's worth that is assigned to it by external factors. The opposite of extrinsic value is intrinsic value, which is the inherent worth of an item.

Outside of our ridiculous laws, anyone could replicate facebook a million times over rendering it worthless...hence, no intrinsic value, like FRN's.

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

You are determined to cling

You are determined to cling to a strange belief so I really don't know what to say. You clearly don't believe in IP which is such a primitive worldview.

What about the the servers Facebook and MySpace own. What about all the bandwidth? What about advertising contracts? None of those have value for you?

I can say, gold is simply a particular permutation of electron protons and neutrons. It has no intrinsic value but for cultural reasons.

The only things which seem to have intrinsic value for you would then be food and water as we can survive without pretty much else. That view would serve you well if you lived 200,000 years ago. Unfortunately for you (and us) you live here in the present.

Now these basic things have value as well as the means to acquire them (money, things which can be exchanged for money or commodities). Why are you getting lost in such a strange philosophy. Money and business are a fabulous game. Get into it, enjoy it, don't sit in a corner and whine.

Do you think

That peer to peer networks like BitTorrent or other P2P systems have no value?
Really?
How long have they been after and tried to shut down the P2P system?
EVER SINCE I WAS A KID. Have they succeeded?
Heck no. They will not either.
Bitcoin has NO INTRINSIC Value, BUT IT HAS INSTRUMENTAL VALUE.

If I can make a transaction in China from my couch, then right now I have to use government monopoly money with interest attached.
If I use bitcoin, I can bypass all those profiteers. Then only the exchange makes a little bit off of each transaction, BUT IT IS TRANSPARENT.

So when you say bitcoin has no value, tell that to the P2P community. Don't be ignorant, think before you speak.

Ron brought the Liberty movement together, Rand is expanding the crap out of it! :)

Bitcoin, shitcoin

I wonder how those people who bought bitcoins at the top feel once it lost a lot of its purchasing power? It might be a medium for exchange, but its not money...its like wampum, or chickens, or seashells.
Anyone who thinks bitcoin fits the profile of REAL money is ignorant.
I barter various items to avoid fees and such...but I would be ignorant to think that the items I trade fit the description of money. Bit Torrent is not money either. if you're just talking about value, shoot, everythig has some kind of value to someone.
As a wise man (who is an expert on money) recently said regarding bitcoin..."I don't think it fits the definition of money"- Ron Paul

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

Correct

It is not REAL MONEY
But it is a decentralized means of exchange or CURRENCY.
If I want to send my Gold to China, it is much easier to exhange my Gold for Bitcoin and send it.

Ron brought the Liberty movement together, Rand is expanding the crap out of it! :)