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#1
03-07-2014, 11:34 AM
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it looks like a commodity, not a currency.
how do you feel about gold, aluminum, or lithium? the history of private currencies isn't pretty. i'm not optimistic. but i told a friend that the ipad looked like a giant iphone and i couldn't imagine any large number of people wanting that so consider the source. 
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#2
03-08-2014, 06:51 AM
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Bitcoin Founder denies "it's him" after being outed by Newsweek investigation:
http://www.foxnews.com/tech/2014/03/...ehind-bitcoin/
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#3
03-08-2014, 09:44 AM
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Quote:
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#4
03-08-2014, 02:59 PM
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Quote:
__________________
Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln
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#5
03-09-2014, 03:56 PM
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Quote:
it was no lord kelvin "heavier than air flying machines are impossible". you can still hold your head high. you will never have to awkwardly warble your posts here in the same manner i use my ipad to post this. nonetheless, i remain confident that when steve starts his subscription model, i won't be paying in bitcoins. i'll use good old fashioned gold nuggets. Last edited by hi_im_god : 03-09-2014 at 05:04 PM.
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#6
03-17-2014, 08:25 AM
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Like any other fiat currency, everything is fine until you have it when it devalues. If you have it and then exchange it for goods of real value, and then the bitcoin thing goes belly up - you're not hurt. The guy who didn't spend it yet is.
Here's the thing: counterfeiting is illegal for good reason - the money supply would increase and devalue the other "true" currency whether dollars, euros, etc. Since Bitcoin depends on an "unbreakable" cryptography (where have you heard that before?), once someone breaks it and figures out how to make bitcoin data packets that did not previously exist, it's the same as counterfeiting and the bitcoins will plummet in value.
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