[Chugalug] Bitcoin = scam

Stephen Kraus ub3ratl4sf00 at gmail.com
Wed Aug 7 15:07:10 UTC 2013


Yeah...no its not.

Rationalwiki was founded to fight Conservapedia, while some of their
articles are written in a humorous tone, they are dead serious and usually
cited

I mean, have you even watched the Daily Show or Colbert? Sure, its comedy,
but the points raised are legitimate none the less.

Mises is a joke in the actual economic joke, on the same level as the
Creationism Museum and the Family Research Council.
On Aug 7, 2013 10:01 AM, "Tyler Mittan" <flashbatmanquestion at gmail.com>
wrote:

> What's also stupid about the Rational Wiki is that they advocate pure
> empiricism. Anything they write should be taken as satire with small
> insights of actual information. It's virtually the Daily Show of the
> internet.
> On Aug 7, 2013 10:36 AM, "Stephen Kraus" <ub3ratl4sf00 at gmail.com> wrote:
>
>> http://rationalwiki.org/wiki/Ludwig_von_Mises_Institute
>>
>> All I have to say about anything Mises and Lew Rockwell related.
>> On Aug 7, 2013 9:32 AM, "Tyler Mittan" <flashbatmanquestion at gmail.com>
>> wrote:
>>
>>> http://mises.org/daily/6401/
>>> http://www.freebanking.org/2013/04/22/bitcoin/
>>>
>>> Here are two specifically about bitcoin. The law of supply and demand
>>> dictates the worth of just about anything we consider valuable. Money is no
>>> different. It doesn't matter if it is bitcoin or the dollar. That's why
>>> there is such thing as inflation because it causes an influx in money being
>>> spent which then creates higher prices because more money being spent
>>> creates the incentive to raise prices. This also explains why we might not
>>> be experiencing the inflation many economists expected us to because while
>>> the new credit expansion is definitely there, banks are holding onto it
>>> because of uncertainty. So I was not directly saying that bitcoin's worth
>>> is dictated by the law of supply and demand, I am saying that all money is.
>>> Bitcoin included. I agree that many people don't accept it, but I think
>>> they would in the absence of a monopoly on currency via the government.
>>> On Aug 7, 2013 10:21 AM, "Stephen Kraus" <ub3ratl4sf00 at gmail.com> wrote:
>>>
>>>> Post your links.
>>>>
>>>> Also, before quoting 'law of supply and demand' which is one of the
>>>> most often misquoted economic terms, please provide me with a list of banks
>>>> that accept bitcoins as a trade medium, and major retailers that accept
>>>> them.
>>>>
>>>> Also, let me be clear in my intentions with this: it is not to call
>>>> anyone out or plaster anyone as a fool, but merely to play devils advocate
>>>> and provide skepticism
>>>> On Aug 7, 2013 9:16 AM, "Tyler Mittan" <flashbatmanquestion at gmail.com>
>>>> wrote:
>>>>
>>>>> Don't treat it like it's something that's away from the law of supply
>>>>> and demand. Nothing has its value “set" unless there is some kind of price
>>>>> control. The value is set by the law of supply and demand.
>>>>>
>>>>> If there truly is finite amount of bitcoins that are being created
>>>>> than the worth of a bitcoin will not be able to one day be worthless unless
>>>>> everybody decides to stop taking bitcoins. Right now it is almost a
>>>>> currency, but it won't be such as long as the us government decides it
>>>>> doesn't want a competing currency.
>>>>>
>>>>> There are some good economists that talk about bitcoins and it might
>>>>> be worth reading what they have to say before knocking it.
>>>>>
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>>>>>
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