Comment: Kreuzberg Germany

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Kreuzberg Germany

http://www.lewrockwell.com/blog/lewrw/archives/136839.html

http://www.lewrockwell.com/blog/lewrw/archives/136933.html

Contracts provide a framework for exchanging goods and services.

Food, Gold are goods exchanges for a service, for example.

$FRN are a service accounting for current value. Our money supply, however, represents a debt owed. An amount nearing $17 trillion dollars that creditors someday expect returned.

A bitcoin also represents a service but is not an accounting of debts exchanged.

Gloabal, pseudonymous accounting, peer-to-peer is a service. Under what condition would it have no value?

A Wells Fargo money order is $o.59 at Kroger. Is this the real value of the service? If both parties, Krogers and Wells Fargo are Federal Reserve members then Congress is subsidizing them by putting us people deeper in debt.

It doesn't make any difference if a bitcoin = One $FRN or a million dollars to the user.

Just buy what your need to make the exchange. A few or a lot.

If bitcoin becomes too profitable, competitors who can offer the same service profitably will try.

The market will choose the cheapest and least volatile. People are cheapskates looking for a deal; First rule of the market. People seek to reduce the risks of exchange.

Free includes debt-free!