33 votes

Central Banker is called a criminal and put on the hot seat repeatedly

This is a Panel about the Regulation of Bitcoin from the European Bitcoin Convention.

On the Panel you have Law enforcement and A Dutch Central Banker. They basically admit that there is no way they can regulate Bitcoin itself.


http://youtu.be/GaW2iPSPEs0

The crowd tears them apart exposing their criminal nature and illogical thinking. (check out minute 37 if nothing else)

If you are a Libertarian and havent looked into Bitcoin and still use FIAT dollars, Youre really working against what you say you stand for.

We all know The Fed and the Central control of money is at the root of all the evils of our society. Bitcoin or some other crypto currency is what will liberate us from Central Banker FIAT Currency oppression. It's like a gift to free humanity and all we need to do is embrace it to win.




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Bitcoin

The creator of bitcoin has been meeting with In-Q-Tel, a venture capital group owned by the CIA. I know the technology, every transaction is logged forever. Those who say it is untrackable are not qualified to speak on the matter. It is clear as day to an engineer reading the code. It is track and trace. They know our unique mac addresses. Everything is recorded. Digital Currency will become more common than paper.

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government forum worker?

it's not even certain who the founder is..

Tracking is integral to its value.

No chain of transactions = no value.

The chain is the value, or rather, the data in the chain. No data, no value.

What is the chain of data? YOUR personal identifiable information and the amount of the transaction.

Remove the data and the "blips" are worthless.

It's built right in and can't be removed.

This is partially true. While

This is partially true.

While the current bitcoin protocol has ever increasing block size, there are future improvement in the pipeline that removes the necessity for the entire block to be stored in every client participating in the block validation process.

https://en.bitcoin.it/wiki/Scalability#Storage
This will enable past verified blocks to be discarded safely and store only unverified transactions (plus some buffer) in the block chain thereby greatly reducing block storage size and increased scalability.

This also improves the level of anonymization in the network and valid clients will not log past histories. Rogue clients can still continue to do. But overall since your bitcoin address is digital in nature, if you can anonymize your internet activity (proxies, vpn etc.) then you can anonymize bitcoin transactions.

Never re-use the same bitcoin address for your transactions that require anonymity. Also you can keep creating huge number of new addresses as needed. Some bitcoin clients have restriction of 100 addresses per wallet, so create additional wallets if necessary. Remember anonymity is not free, just like liberty. You need to be constantly informed and take measures to enjoy anonymity just like liberty.

Future improvements are irrelevant.

RIGHT NOW, you need the whole chain.

And even when the time might come when you don't, there's nothing protecting data from being retained even when it is no longer needed later. It is needed at some point, thus it will be retained.

Besides, all of this is irrelevant on two counts:

A) Bit coin is fictional and reliant on computer blips - it is not tangible.
B) the NSA, even if it can't crack it now, can still store the data to be cracked later - you can't stop that.

Tell me one thing. Is just

Tell me one thing.

Is just being digital and relying on electricity and internet is a bad thing for those using bitcoin, why are people who use cash-only or precious-metals only, say in drug dealings, get caught?

There is no solution to stupidity, there can only be better alternatives. Even shops that sell for cash (with price less the sales tax) will eventually get caught, if the Government is willing enough.

If and when bitcoin usage reaches the levels where a significant (>10) percentage of population start using it on a daily basis, it would be computationally impossible for NSA to break-down all the data and prohibitively expensiove.

They get caught because they

They get caught because they have a tracking device called a cell phone.

There is no way that bitcoin will ever reach 10%. Do you think people don't use silver on a daily bases because they don't want to? Do you think they have a choice. They call them legal tender laws and they are legal but not lawful.

Anyone trying to use anything besides paper script as money is either invaded and bombed or raided and arrested. Bitcoin will be no different.

Let's say the legal tender laws are no longer enforced. Say your sheriff stops letting federal agents raid your property or stops arresting for failing to pay his thugs their phony script.

Let's say it is a free market. If that was the case bitcoin could be used for little more than a postal money gram. It has to be traded for value. It has no real value of it's own. No industrial uses. No supply, demand factors for usage other than currency. Currency is what we have now.

Dollars are just as rare and serial numbered unique.

This whole argument ignores the fact that people would use bitcoin simply to transfer wealth over a boarder. Not because they need to keep the bits in another country but because the faith that they can buy something of value on the other side with it.

The market will rule and bad money chases out good. Bitcoin would be the same as script and that is if you require people to accept it.

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Irrelevant arguments

They get caught because they have a tracking device called a cell phone.
Wrong argument. Everyone has a cellphone. My question was why do people dealing with only cash, to buy marijuana, get caught. Cellphone can be used to track a person, but how does the cash-only person first end up in the list to be tracked?

Anyone trying to use anything besides paper script as money is either invaded and bombed or raided and arrested. Bitcoin will be no different.
According to you, the bitcoin is a CIA product. Why would the government invade those that use a product that the Government introduced?

Let's say it is a free market. If that was the case bitcoin could be used for little more than a postal money gram. It has to be traded for value. It has no real value of it's own. No industrial uses. No supply, demand factors for usage other than currency. Currency is what we have now.
If a currency gives you low cost for storage and exchange (exchange cost can actually be ) - just your internet usage charges - but takes more time to validate in the block chain) and pseudo-anonymity and ultimately helps to buy stuff from your home pc or mobile, that in itself is tremendous value. With precious metals you cannot buy stuff at e-commerce websites, and whether you like it or not, e-commerce is only going to get bigger.

A cost for exchange is called

A cost for exchange is called usury. It seems you cant accept reality. When you come to America, you can work at 7/11 and I promise you that no bitcoin will ever be accepted. My coin shop won't be taking them and neither will my baker. No one is going to save bitcoin in a piggy bank either. Pawn shops are going to loan against Chuck e Cheese Tokens but never bitcoin. Move on, your just dreaming.

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6000 years vs 5 year.

A rich dad once taught me. If you can't hold it in your hand than you don't have it.

I think you will have better luck collecting postage stamps.

Trust me, the NSA can care less if you have proxy or vpn. It's silly to think anything on the computer is safe.

I get tired of hearing about how great it is. Was the kings of old buried with bitcoin? No. Weed, gold and bones is all they find.

Face the facts, unless your willing to insure my losses, stop giving me financial advice.

I get enough CIA propaganda. I rather spend time with my kids than focus on making some guy in CIA headquarters stupid rich.

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That gold and silver as money

That gold and silver as money had a rich history is un-deniable. I myself invest in Gold.

But by extension it doesn't mean the fire-wood (as old as learning fire-control) is better than oil, for energy. The Internal Combustion Engine was invented like 100-150 years ago. But fire control (and fire wood) was discovered like 2 million years ago. Same goes for candles vs electric bulbs etc...

New technology is not always harmful, especially if it is a de-centralized liberty-enabling technology.

Would you argue that people should stick to sickles and clubs and give better technology (guns) only to the military and the Government? It is an eternal fight between Government (people who like central control and power) and free people and technology will be used in both sides to turn the tides.

I deeply believe, that just like the Internet, the bitcoin technology emerged as a open-source de-centralized technology and would be great asset to advance the cause of freedom.

Believe

One does not establish a dictatorship in order to safeguard a revolution; one makes a revolution in order to establish a dictatorship.

-George Orwell

Bitcoin is not spontaneous and it's not even the only digital currency. It just so happens to be used by the CIA. Bitcoin is centralized because it does not freely exist outside the internet.

There are many alternatives to the internal combustion engine invented and yet the monopoly trust has chosen it as a form of control. Same goes for our power grid and now we have aging reactors ready to blow, that are insured by the US dollar.

A system that uses a non-scarce resource to manage a scarce resource will ultimately fail. The seeds of failure for the Bitcoin scam have already been planted.

What do you think will happen if they stop printing money? Do you think it will be any different when they stop making bitcoin?

It is another form of fiat currency because it doesn't have any inherent value. Bitcoin is absolutely useless and when the music stops, your gonna be left without a chair.

The cheese stand alone. Bitcoin has nothing but faith to stand on, much like the US dollar. Put the power back in your hands and stop having faith in the government religion.

The fact is you don't have a government. You have contracted with a corporation defacto government in costumes. They are failing and all bets are off. Gambling is not impressing me.

The dollar is dead and that is evident by the changeability and the fact they have removed all lawful money as a form of currency by fiat codes and stautes. In a contact, the requirement is two signatures as you cannot contract with yourself. One of the signatures must be yours or it isn't your contract. The US dollar has two signatures and not a single one is yours or mine.

Think about this from the power perspective for a second. You don't want people to have control of their own money. You are losing control of your current deception. You have to replace it but you don't know how your going to get people to believe again.

Now lets look at it from the conscripted standpoint. Your in a foreign land and your trying to pass a border checkpoint. The guard looks at you and you need to bribe him to pass. You have a choice, you can bring bitcoin or gold. Which one do you think will get you safe passage in any place in the world?

The argument that your gold will be stolen is invalid. You have to protect your gold much less than your wife or young daughters.

What about the perspective of average Joe in the collapse that is scientifically unavoidable. You have stored enough water because your smart but you have run out of food and seeds are hard to come by. Joe comes to me and asks me for some of my seeds. I ask for something of value that I can use to survive.

There is not a eternal power struggle between Government and the people they claim to have conquered. There are only those who take power and those who give up power. They are not omnipotent or
unfailable.

Your conclusion is that you deeply believe. Your a true believer. The word believe comes from the ango-saxon word leaf which means "to wish." Make all the wishes you want. Time is not on your side. The reality is clear to those who have eyes to see it.

The gates to hell are wide open.

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Bitcoin is not spontaneous

Bitcoin is not spontaneous and it's not even the only digital currency. It just so happens to be used by the CIA. Bitcoin is centralized because it does not freely exist outside the internet.
What do you mean by spontaneous? Bitcoin emerged as an open-source community solution to currency systems. CIA and invading militaries use Tor anonymizing networks to protect their communication. Yet Tor is used by thousands of individuals to by-pass firewalls, including human-right supporters in oppressive regimes. Just because CIA uses something doesn't make it bad. CIA staff eat bread and drink soda. That doesn't make it bad.
Bitcoin is a decentralized digital currency. There is no central server and the block chain or transaction records is vetted by > 50% of the participating nodes - there is nothing remotely centralized in bitcoin.

There are many alternatives to the internal combustion engine invented and yet the monopoly trust has chosen it as a form of control. Same goes for our power grid and now we have aging reactors ready to blow, that are insured by the US dollar.
My argument was specific to fire-wood (2 million year old) vs oil (150 yrs old with ICE), not about the other schemes such as petro-dollar, oil monopolies etc.. And that point was specifically made against your 6000 year gold vs 5 year old bitcoin argument.

A system that uses a non-scarce resource to manage a scarce resource will ultimately fail. The seeds of failure for the Bitcoin scam have already been planted.
Bitcoin is scarce. Scarcity is intrinsic to its design and even mining of bit-coins is very costly (requires lot of energy which is scarce).

What do you think will happen if they stop printing money? Do you think it will be any different when they stop making bitcoin?
Are you asking about the impact if they stop inflating USD at this juncture? Also what do you imply when you say "when they stop making bitcoin? What doesn 'they' refer to?
Anyone can mine bitcoin, you have to spend real energy to mine bitcoins and by design it cannot be counterfeited as fiat money can be.

It is another form of fiat currency because it doesn't have any inherent value. Bitcoin is absolutely useless and when the music stops, your gonna be left without a chair.
You haven't understood meaning of fiat currency. You need a government or authoritarian edict or proclamation for a good to serve as fiat currency. Bitcoin falls under no authority or regulation. Intrinsic value is not present in any good or service. It is only people's perception that creates value in goods and services. See Mises' axiom - "Value is not intrinsic. It is not in things and conditions but in the valuing subject."

Think about this from the power perspective for a second. You don't want people to have control of their own money. You are losing control of your current deception. You have to replace it but you don't know how your going to get people to believe again.
You seem to be helping my argument there. If CIA controls bitcoin why are there so many news of Govt. acting against bitcoin. Like banning bitcoin exchanges running outside US, bringing down silk-road etc.. Govt and the Fed controls USD and people are not punished (directly) for using USD but rather encouraged since it profits them by counterfeiting. Bitcoin, on the other hand, has to be crushed and dealt with because they're unable to control it.

Now lets look at it from the conscripted standpoint. Your in a foreign land and your trying to pass a border checkpoint. The guard looks at you and you need to bribe him to pass. You have a choice, you can bring bitcoin or gold. Which one do you think will get you safe passage in any place in the world?

The argument that your gold will be stolen is invalid. You have to protect your gold much less than your wife or young daughters.
Assume you convert your entire wealth to gold and attempt to cross the border. The guard confiscating all your wealth is also very likely. Instead if you just convert enough gold to pay for the bribe and rest in other forms (such a bitcoin) which you can safely access from across the border - you will actually be much safer.
You can protect bit-coin much like you protect gold. In another thread about Silkroad, you see that the FBI are unable to break the encyrption on the bitcoin wallet to seize the 600K bitcoins. The way they can break it is to torture (they might already be doing this) the Silkroad founder and obtain the private keys to the wallet. Govt. can torture you and find your buried gold. Gold is no easier to protect than bitcoin and could infact be much harder.

Your conclusion is that you deeply believe. Your a true believer. The word believe comes from the ango-saxon word leaf which means "to wish." Make all the wishes you want. Time is not on your side. The reality is clear to those who have eyes to see it.
You agree or not, remember that even your reliance on gold or silver is based on deep faith and belief. No good or service has intrinsic value, just what the subjective user assumes it has.

All your other points are not about bitcoin but are rants of the Government and the fiat USD, most of which I agree with.

Money is an illusion.

The price of bitcoin is attached to fiat currency not a fixed ratio to a commodity. So it's as good as any other currency, stock or bond.

According to blacks law.
Intrinsic Value, The intrinsic value of a thing is its true, inherent, and essential value, not depending upon accident, place, or person, but the same everywhere and to everyone.

You keep thinking that the computer can be secured. It can't. If it could we would cease to update our code.

It only exists within the computer. That is centralized. The transaction log is just that, a centralized record even if the storage is not. Cloud computing is centralized yet not physically for example. There are not multiple instances. It emerged? What are you try to sell me? A computer program.

A lot of energy? Well I guess fresh water for humanity comes second to wasted time. So we are going to manage our scarce energy by making useless numbers to manage other scarce resources. Bitcoin has a cap and that will be the end. Read your documents again. It is about as scarce as the alphabet and that is why the creator set a cap on how many total bits can be made.

So you pay the energy company dollars to make bitcoin. I'm afraid your sinking my ship. Sounds like a great way to get rid of paper dollars.

Control opposition is the CIA way. You need to learn more about the CIA.

The FBI is a joke.

I don't believe in gold or silver. It is a tool because you can go anywhere on the planet and exchange it. That is the fact. A fact that has made me wealthy. If it was coffee beans or rice, I would have that too.

Video games have virtual currency as well. It is just as good as any other bits.

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The price of bitcoin is

The price of bitcoin is attached to fiat currency not a fixed ratio to a commodity. So it's as good as any other currency, stock or bond.
Either you are confused or you confused us all, there. The price of bitcoin is determined just like any other commodity - people offer and bid on the price of bitcoin on the market and these transactions set the price.

According to blacks law.
Intrinsic Value, The intrinsic value of a thing is its true, inherent, and essential value, not depending upon accident, place, or person, but the same everywhere and to everyone.

Can you provide a link to the blacks law? Atleast the Austrian school maintains that the intrinsic value of a good or service is subjective and that includes gold and silver. The Austrian explanation makes sense to me.

You keep thinking that the computer can be secured. It can't. If it could we would cease to update our code.
I never claimed that bitcoin is perfectly anonymous - just that it provides pseudo-anonymity. All I tried is to explain why bitcoin has all the important properties of money while being more convenient and secure to store and transact than gold.

It only exists within the computer. That is centralized. The transaction log is just that, a centralized record even if the storage is not. Cloud computing is centralized yet not physically for example. There are not multiple instances. It emerged? What are you try to sell me? A computer program.
You seem to come of as a Luddite to me. All your arguments seem to assume that the world is going to blackout and there is going to be no electricity tomorrow. What will happen to gold and silver if foundries cease to exist (If you argue that it can never happen, then so does your version of the future)

A lot of energy? Well I guess fresh water for humanity comes second to wasted time. So we are going to manage our scarce energy by making useless numbers to manage other scarce resources. Bitcoin has a cap and that will be the end. Read your documents again. It is about as scarce as the alphabet and that is why the creator set a cap on how many total bits can be made.
Whats your point? I was explaining why it is prohibitive even for colluding government to counterfeit bitcoin. Bitcoin was set to have a max limit explicitly because the goals were to have a deflationary currency. Instead of calling bitcoins as useless numbers, can you please explain why it is useless? Deep down in the dailypaul.com servers some 'useless' 1s and 0s are being executed, using electricity, as code and used as data - yet we have a vastly useful product called dailypaul.com out of it. Come on, get us a real argument.

So you pay the energy company dollars to make bitcoin. I'm afraid your sinking my ship. Sounds like a great way to get rid of paper dollars.
Actually, I traded part of my wealth (which I earned through my job) to the energy company to mine bitcoins. Under the current conditions I use USD as my store of wealth, which is risky, but due to the subjective theory of value is working. Government fiat can also influence our subjective measure of value.

Control opposition is the CIA way. You need to learn more about the CIA.

The FBI is a joke.
No comments as this has nothing to do with bitcoin.

I don't believe in gold or silver. It is a tool because you can go anywhere on the planet and exchange it. That is the fact. A fact that has made me wealthy. If it was coffee beans or rice, I would have that too.
99% of the people who have internet connectivity today are not going to find themselves somewhere without internet tomorrow.

In sport and kindness always...

"Either you are confused or you confused us all, there. The price of bitcoin is determined just like any other commodity - people offer and bid on the price of bitcoin on the market and these transactions set the price."

Correct but they prices are set in dollars. You cannot buy bitcoin without first exchanging your goods for dollars. That makes the dollar half of every transaction. In a free market, you can bid a commodity with any other commodity and not just one.

Free first and second edition.
http://blacks.worldfreemansociety.org/top.htm

"I never claimed that bitcoin is perfectly anonymous - just that it provides pseudo-anonymity. All I tried is to explain why bitcoin has all the important properties of money while being more convenient and secure to store and transact than gold."

I believe the usages of a type bitcoin or a later revisions can assist in moving to a more free society. However technology is double edge sword. I just think they are more likely an assistance of a transfer of wealth like a western union money order but it has to be attached to something that can be exchanged with real intrinsic value at a constant price. I don't want to pass bitcoin to my heirs. Bitcoin will fail for the obvious reasons and they will be apparent eventually just like the dollar.

"You seem to come of as a Luddite to me. All your arguments seem to assume that the world is going to blackout and there is going to be no electricity tomorrow. What will happen to gold and silver if foundries cease to exist (If you argue that it can never happen, then so does your version of the future)"

Quite the opposite. I am a discordian. Most the the world does not have the infrastructure. If you leave America or any other first world nation than you will find yourself in a old world that has not changed in many thousands of years. The value systems of the brain washed people are not going to be ideal.

"Whats your point? I was explaining why it is prohibitive even for colluding government to counterfeit bitcoin. Bitcoin was set to have a max limit explicitly because the goals were to have a deflationary currency. Instead of calling bitcoins as useless numbers, can you please explain why it is useless? Deep down in the dailypaul.com servers some 'useless' 1s and 0s are being executed, using electricity, as code and used as data - yet we have a vastly useful product called dailypaul.com out of it. Come on, get us a real argument."

Useless numbers in that they can provide no readable or intellect able content. Unlike the dailypaul servers. Deflationary currency? Sounds like a transfer of wealth from those with bitcoins from those without. How about a stable currency with falling prices due to increased production like Dr. Paul talks about. If it wasn't for paul, I would never come here.

"Actually, I traded part of my wealth (which I earned through my job) to the energy company to mine bitcoins. Under the current conditions I use USD as my store of wealth, which is risky, but due to the subjective theory of value is working. Government fiat can also influence our subjective measure of value."

Gold is the money of kings. Silver is the money of gentleman, Barter is the money of peasants and debt is the money of the slave. Bitcoin is debt based as you just explained. Not all money is the same. Some people like trading cards or comic books for example. I made my money off the inflationary trend of the dollar. I have bet against the dollar and have won. To each their own. You may make a fortune on bitcoin but someone has to lose one.

The CIA and FBI have everything to do with bitcoin. Just like the US dollar.

"99% of the people who have internet connectivity today are not going to find themselves somewhere without internet tomorrow."

Most people in the world are poor and starving. The life you live is a barrowed one on the time of others. That time will come to an end. Hopefully not soon but from the looks of it. It's downhill.

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You can ofcourse trade

You can ofcourse trade bitcoins for goods directly in online marketplaces. Example - http://coinabul.com/ sells gold/silver for bitcoins. People spend the FIAT currency that they have on hand to buy bitcoins which they can later spend on goods and services. There is netiher anything wrong with this mechanism nor does it imply that the bitcoin is priced in USD. People tend to use the dominant currency at a given time to evaluate prices - For example a person might exchange a hen for peanuts but evaluate the value of hen with the current USD currency. The Hen or the peanuts in no way lose any value or deemed worthless because the market players used USD to evaluate them.

I cannot believe that all this time, you were arguing about the intrinsic value of money, using a law dictionary as your source. My bad, I was thinking that Black's law was something like Ricardo's law of comparative advantage :O. Sorry, but nowhere people use definitions from law dictionaries for economic arguments. Also the definition of value from your law dictionary - "The utility of an object in satisfying, directly or indirectly, the needs or desires of human beings" is more consistent with the economic theory of value.

FYI, I am not an American, but rather from India. You seem to have a victorian image of India and the rest of the so-called third world. Internet penetration in India and elsewhere in Asia and Latin America is not dismal as in fact has been exploding at an enormous rate. The number of mobile users in India is 900 million (3 times the US population) and they are ready to pounce on a system like bitcoin that can give vendors a payment receiver system with 0% transaction fees. Don't assume that only America is advanced in technology and tele-communication, people elsewhere are adopting technology very fast.

The CIA and FBI have everything to do with bitcoin. Just like the US dollar.
Provide any valid proof. What you say is not even a conspiracy theory. You tend to appear insane if you keep re-hashing the same statements without even a small fragment of proof.

Gold is the money of kings. Silver is the money of gentleman, Barter is the money of peasants and debt is the money of the slave. Bitcoin is debt based as you just explained.
I didn't explain anything remotely implying that bitcoin is debt based. Explain why bitcoin is debt-based, lest your arguments be called insane.

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dominant currency?

Your now calling me insane?

Debt based instruments are subject to inflationary and deflationary effects. They are not stable by any means. If bitcoin was locked in at a stationary price with another commodity such as a grain of rice or silver and easily exchangeable than it would not be debt based currency. The price of labor has not changed in many hundred if not thousands of years when priced in a hard money.

Maybe you have a hard time with English. Sorry but bitcoin will never prevail and nothing you do will change that. You not being in America have no place in American politics. Your culture is completely different.

You sir are incompetent. Maybe you should stick to your own language and your own countrymen.

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Insane = CIA controls bitcoin ... Where are the sources?

Debt based instruments are subject to inflationary and deflationary effects. They are not stable by any means. If bitcoin was locked in at a stationary price with another commodity such as a grain of rice or silver and easily exchangeable than it would not be debt based currency. The price of labor has not changed in many hundred if not thousands of years when priced in a hard money.
You assume that bitcoin is debt-based and start your arguments from there rather than explaining why it is debt based. First substantiate your core assumption, then we can derive facts from that.
You are wrong saying that commodities cannot have inflationary and deflationary effects. It all depends on the supply and demand. Gold and silver (and bitcoin) are relatively scarce and are being used as money. Whereas say peanuts or rice production can vary with seasons and over years and with changing technology, so you can never expect to exchange a chicken for 1 kg of rice always. If rice production increases, you have to trade more rice to get that chicken. Inflation and deflation when seen from the price viewpoint, can simply be brought about by increased demand and supply respectively.
Finally, if you use the Austrian definition of inflation and deflation (increase/decrease in money supply), then you can see that bitcoin doesn't suffer from that.

Your now calling me insane?
Yes. Now let us know the sources which say that CIA created or controls bitcoin. Let us know the sources that explain why bitcoin is debt-based. Substantiate your axioms before expanding your arguments using those axioms.

Maybe you have a hard time with English. Sorry but bitcoin will never prevail and nothing you do will change that. You not being in America have no place in American politics. Your culture is completely different.
I am very comfortable with English, but maybe I am not familiar with legal definitions of economic concepts. Stop using a law book as your economic bible and start quoting real economic works.
I reside in America, but obviously cannot vote. But the economic policy and culture of the US will affect me and everyone in the rest of the world.
The culture where I come from may be different than yours, but libertarianism and economic concepts are culture-agnostic, which you don't seem to understand. American foreign policy and economic policy is of concern to every person in the world (not just Americans), because of your irresponsible military adventurism and exporting of debt to other nations via the petro-dollar scheme.

You sir are incompetent. Maybe you should stick to your own language and your own countrymen.
I may look like that to you. But others in your country have found me worthy enough to offer me a great job for my services.
It was you, with typical arrogance, first mentioned how people in the third world cannot think beyond precious metals because you assumed that they have minimal infrastructure. Perhaps you should stick to your country and stop worrying about other countries.

Time will tell

I can't continue this conversation because of the lack of comprehension. Perhaps in the future you will attain a greater understanding. Have a nice day, work hard and pay your bills on time. Our business has been concluded. God speed.

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Thanks for stopping,

Thanks for stopping, Troll.

If you ever come back, please first cite the sources for your claim - CIA created/controls bitcoin.

...

I try to make it a habit of not arguing with simple minded people over the internet. Why don't you search google or the dailypaul. It's all over the site.

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I think he's basing his

I think he's basing his claims on this article:

http://realcurrencies.wordpress.com/2013/06/21/is-the-nation...

For one, the digital currency in that paper has similarities to BC, but it's vastly inferior since the digital currency they are describing there still uses a bank as a 3rd party. It sounds like the digital currency described in that paper is an IOU, instead of an asset like BC. And it doesn't seem to be decentralized, BC's most important function.

Here's an interesting timeline as well:

http://www.reddit.com/r/Bitcoin/comments/1dp4c4/why_the_us_g...

...

bitcoin is not an asset. Look it up in black's law dictionary.

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Strictly speaking, it's a new

Strictly speaking, it's a new thing. More like it behaves like an asset in some respects.

There is nothing new under

There is nothing new under the sun. You can't avoid a legal definition unless you plan on ditching language.

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There's no legal definition

There's no legal definition invented for BC. BC is something that hasn't been encountered before. That's what you get with new tech:

http://pandodaily.com/2013/10/04/pandomonthly-san-francisco-...

Check 31:50.

undefined. sounds like your

undefined. sounds like your in infinite loop. It's bits. I would value a jpg of my kids more because at least I can print it out and have it in my hand.

Money is a very old idea and currency is the new idea. Bitcoin is a currency in costume.

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Lol, and I suppose I should

Lol, and I suppose I should take your word over a lawyer's? I've seen interviews with regulators and most of them admit that they are unsure how to classify BC.

Regulator/Lawyer >>>>> You

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An attorney / lawyer give an oath to the bar. Not to a person. They are employees of the bar. They do not work for you or I. Don't compare me because a attorney will never have standing in court against me the living man. I have disbarred attorneys who have tried. It goes back to the oath. The oath is bonded and the bonds are insured against loss.

I am competent. To hire an attorney is to at-torn. Also known as incompetence. It's not my words, it's strait out of the law books written in the time of the founding fathers. Which is based on definitions that go back to Rome and ancient Greeks.

You should never trust a lawyer and if you do than good luck to you. I never trust a person who makes wealth off the suffering of others.

Read some Bouvier's Law Dictionary or Black's Law. Your statement just proves your intelligence is hearsay.

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