[url=#user_comment_343504]@Raxyz[/url]: Basically, libertarians are really desperate to make BitCoin successful in the hopes it replaces fiat currency, since, in their eyes, an inherently 'private' currency is better, facts and evidence be damned.
[url=#user_comment_343495]@TheMentorAssassin[/url]: No, she is supposed to have big ones.
Jigglyboo
over 10 years ago
@Nerf NOW!!: Jo, if people stopped caring about gold, the fact that you could sell it for a tiny fraction of its current price to Yamaha would hardly matter. It's like saying that dollars are superior to BTC because you could light cigars with them.
[url=#user_comment_343495]@TheMentorAssassin[/url]: Yes. I am having trouble seeing this as bad thing, though.
TheMentorAssassin
over 10 years ago
Don't you think the alek's boobies are a bit big?
topin89
over 10 years ago
>Real currency also has a government backing it
Default in 1998 turn all Russian Robles in a pile of candy wrappers. In one day.
For now using BC is like Prisoner's dilemma, using them is best for all, not using is right now best for each separate person.
VV
over 10 years ago
Bitcoin, like Gold, also had/has some adherents in the American Right political fringe who are suspicious of being tracked by $$$ purchases.
[url=#user_comment_343488]@Jigglyboo[/url]:
Yeah,but the reason why people still care about gold is that it is a rawmaterial with a real demand for it beside being relativly rare;like oil or REEs.I won't decay on and the demand for it is unlikely to stop.
The demand rare but valueless good like baseballcards on the other hand..
[url=#user_comment_343488]@Jigglyboo[/url]: If people stopped caring about gold, you would still have a rare metal which can be used for some stuff like conductors and art.
Bitcoins, if devalued, doesn't even exist in the real world. I can't even use it as a paperweight.
Jigglyboo
over 10 years ago
The -only- difference is that gold has literally been around for ages, while BTC is still very new. It's thus more likely that people will stop caring about BTC than about gold. Everything else is identical. If people stopped caring about gold, it too would be (almost) worthless.
Jigglyboo
over 10 years ago
@Nerf NOW!: >Rare. That's is not true. Check the gold course from 2000-2014. It was going up steadily until the economy began stabilising and India stopped buying, then dropped by 30%. BTC isn't any different. Everything Foamy said applies to BTC and gold in equal measure, aside from looking pretty.
@Nerf Now!! There are other gems rarer than diamonds. The real reason why they are so valuable is due to strict control http://en.wikipedia.org/wiki/De_Beers
@Nerf NOW!!: in Soviet Union being in possession of foreign currency was punishable by 3-15 years in prison at min, with or without confiscation of possessions, to death penalty at max . And leaving the country was not an option.
So glad it's dead.
I would totally buy hatcoins, you could link them to hats in videogames, it could be the new gold standard:the hat standard. you do have to admit that the economics of hats are interesting.
lolis r the best
over 10 years ago
I've only used bitcoin to buy goods and services so far D:
I feel like Jo has a better understanding of economics than most in politics do... money's only worth what it can buy.
Foamy
over 10 years ago
@Nerf NOW!!: "In the market" is correct. Relative value is determined by supply and circulation - I'm more willing to spend today if I'm sure I can get it back tomorrow. It's estimated that if the "hoarded" BTC was put back into circulation today the price vs. USD would drop to 7cents.
My opinion about e-money? Got in, then got out as soon you profit from it, rinse and repeat. they are unstable and will evaporate soon or later. Spend the profit to buy gold and keep it somewhere safe.
Money, currency...
https://www.youtube.com/watch?v=iFDe5kUUyT0
US dollars are backed by government? Who backs on glorified IOUs?
Nothing is safe, when we learn to synthesize flawless gold gold's value will drop till like plastic as well.
[url=#user_comment_343468]@Foamy[/url]: They are also rare, so they won't be devalued because someone dropped some extra tons of diamond in the market.
Foamy
over 10 years ago
Bitcoin vs Hard Currency (2). It's limited to 7 transactions/second GLOBALLY, if you transact offline the "paying" party can void the transaction if they get online first, courts can't enforce payments of debts in BTC (they can enfore legal tender), if you pay the wrong wallet no chargebacks.
Foamy
over 10 years ago
Re: Bitcoin vs hard Currency (1), Bitcoin is inherently deflationary (bitcoin supply is fixed, supply of goods/services/content is always increasing) - why buy clothing etc. for 1 BTC today when you can buy it for 0.5 BTC in 6 months? People not spending is a BIG problem in the economy.
Foamy
over 10 years ago
Re: Bitcoin vs. Gold/Diamonds - the reason people hold these assets as long term security is (a) They are extremely durable, taking a LOT of effort to destroy, (b) If no-one wants to buy them, they at least look pretty. Bitcoin is neither of these.
Its only major, known weakness compared to other hard currencies, most notably gold, is how new it is, which leads to fairly severe fluctuations. It's significantly easier to trade though. Everything else is identical.
Jigglyboo
over 10 years ago
Bitcoin isn't a currency in the modern sense, but in the traditional (asset). Government-defined cash values are a fairly recent invention and there have been more than enough cases of people using their hard-earned bills to heat the oven. I'm yet to see someone stoke a fire with gold or diamonds.
So when is our government going to make the technology where you have a drive and this drive contains a value, the only way for it to gain value is for a job with a secure registered connection to the Galactic Credit Standard Network to add value and stores to reduce value?
@Nerf Now!! The last time I heard about Japanese yen they were having trouble controling their deflation. For someone who have seems prices rise more than once every day that sounds absurd!
Kinesis
over 10 years ago
Hey... is it kinda unfair that everyone else got a "pick a game" comic but when Jane asks for money to get a game she gets nothing?