• I can: A dollar is a unit of

    I can:

    A dollar is a unit of exchange produced by the federal reserve that is used for financial transactions. Its value is market based but yet the quantity is constantly manipulated by the powers that be in our country.

    In contrast:

    A bitcoin is a unit of exchange produced through the validation of transactions on a global peer to peer network that is used for financial transactions. Its value is market based and the quantity is set to a fixed formula that is on a predetermined path. That path is not influence by any group or individual.

  • Whether or not fed reserve

    Whether or not fed reserve notes are hard for you to come by has no bearing on the fact that creating trillions more devalues whatever few you have. When the federal reserve creates huge amounts of new dollars the super rich at the top of the dollar 'pyramid' get the most value from the newly created dollars and us at the bottom always get the short end of the stick. In bitcoin this is exactly the opposite -- yes bitcoins are still be created as we type on this thread...but that number decreases over time instead of increasing like all government fiat does. The total number of bitcoins that will ever be created is 21 million. 21 million individual 'coins' that can each be split into 100 million bitcoin 'pennies' called satoshis. This will equal a grand total of 2100 TRILLION total individual units of exchange when the last bitcoin is mined.

  • You are right that anyone can

    You are right that anyone can now create their own cryptocurrency. The only problem is getting people to start using it. The biggest advantage that Bitcoin has over other cryptocurrencies is the fact that it has the largest user base, most amount of people developing new applications, and name recognition. Many of the other currencies simply piggyback off the groundwork laid by Bitcoin. I do not have any problem at all with competitors -- in fact they will always do more good than harm. However, if an entity like the Federal Reserve decided to launch their own cryptocurrency it is highly likely that users would shy away from it due to the fact of who it running it. So just because you have the ability to make your own cryptocurrency now does not mean that it will ever become a viable competitor to the marketshare giants like Bitcoin, Ripple, and Litecoin.

  • I like to draw the analogy

    I like to draw the analogy that when the internet and email first were invented they were extremely complicated and hard to explain to the non-invested consumer. Just look what the last two decades has done to that problem. Now anyone and their grandma can easily use the web and or email services without taking advanced computer related courses. Just because something is not user-friendly in its early stages does not make it illegitimate.

    A site just came online that does a good job of explaining the various aspects of bitcoin to a new user. It is owned by the same people that own Mt. Gox but it does not seem to be biased. The site is very user friendly from my own personal experience. www.bitcoins.com

  • Saying that supporting

    Saying that supporting Bitcoin is supporting the dollar is quite false. Although both dollars and bitcoin are fiat currencies bitcoin does in fact have a true scarcity element to it that is not present in government fiat currencies. The more Bitcoin grows in use and application the more it weakens the dollar and other government fiat currencies. After many months of researching I have concluded that the only thing that actually 'backs' bitcoin is mathematics.

    As far as a super computer being able to complete block in minutes statement -- the current network hashrate is faster that 250 times the computing power of the worlds top 500 super computers combined. At least that was the most recent statistic I read. 6,048,458.52 GH/s

    For stats on the bitcoin network for the last 24 hours check out this link.


  • The only true "backing" to

    The only true "backing" to Bitcoin is math. The price of Bitcoin is influenced by the number of people using it. For those saying it is not physical therefore it has no value just think of email. Email is not physical but yet it is a constant in our society.

  • Yet another great reason to

    Yet another great reason to buy Bitcoins :)

  • Its a good thing there is

    Its a good thing there is Bitcoin and altcoins to subvert all central banking in any country :)

  • If something like this does

    If something like this does happen... people will just switch to bitcoin en masse!

  • There are a few things about

    There are a few things about Bitcoin that are important to note.

    - While exchanges and legality of use can be regulated, Bitcoin itself cannot.

    - If you properly secure your Bitcoins, no one under any circumstances can steal them from you.

    - Bitcoin has ZERO inherent value. It is as worthless/valuable as any other currency.

    - The only thing that gives Bitcoin, dollars, gold, or other mediums of exchange any value is the properties they possess that make them attractive to anyone that conducts business that needs a medium of exchange. Today most everyone uses some medium of exchange daily. The reason Bitcoin has value is because it fulfills many of the most desirable aspects of a good medium of exchange and does not have many of the negatives. The fact that no single entity; person, business, or government controls its issue is very attractive to many. This stability of process that will not be changed on arbitrary events like economic depressions, changes in administration, population change, etc is another thing that gives it value.

    - Time will only tell what happens with Bitcoin. It is important to note that Bitcoin is only in year 5 of a 150 year production period.

  • This is yet another reason...

    in the long list to NOT use traditional banks to store your assets.

  • And yet all the leftist

    And yet all the leftist wonder why there is such an increase in mass shootings... Its not the guns its the way the younger generation has been emotional trained to incite anger etc.

  • Wasnt there a recent Supreme

    Wasnt there a recent Supreme Court decision that pleading the 5th constitutes guilt?

  • That warms my heart so much!

    That warms my heart so much!

  • Too little too late...

    Too little too late...

  • I have always been of the

    I have always been of the opinion to look everywhere and anywhere for information. True the origin of the information is something to keep in mind but just because someone with opposite views and goals than mine say something, that in itself is not a valid reason to ignore it.

  • I hate to be the one to say

    I hate to be the one to say this is pointless. But I really think this website is only to give the illusion of helping to form the platform. Yes maybe they will mention the most popular things from this site when they are running. But I do not believe for a second they will actually promote the will of the people if elected. :(

  • I used to live in Nampa,

    I used to live in Nampa, Idaho. Which is about 5 miles from where this sign is located. It has always had awesome political messages and I enjoyed driving past it :)

  • I will never give up on RP as

    I will never give up on RP as far as im concerned he is my commander in chief already and always will be!

  • On a good note. When I was at

    On a good note. When I was at the polling place today I made a remark when I was leaving. I said "Ron Paul all the way!" A senior citizen lady that was an election employee said "Yeah thats what I think too" and then she looked around to see if any of the other employees saw her say that lol! So this bs that its the 60+ crowd voting for Romney is worthless.