[Chugalug] Bitcoin = scam

kitepilot at kitepilot.com kitepilot at kitepilot.com
Wed Aug 7 18:18:28 UTC 2013


I have several issues with bitcoins, but my biggest problem is:
I can't hold it in my hand! 

Then, there is more:
Whether you (or I) like it or not, it is the future of money.  Or at least 
the future that your government (an mine) wants.
Nowadays, it is borderline illegal to hold cash in your hand.  Those that 
will say otherwise, haven't had the pleasure to be confronted on a major 
highway (like I-10 in AZ or TX) by guys in fatigues sporting long range 
weapons and barking at you 'let me see your papers' 

If those fellows find more than a few bucks in your possession, you are 
invited to a pretty interesting party... 

Your government (an mine) doesn't like cash because they *CAN'T* track it!
And if they can't track it, they can't bite you.
Remember:
The difference between the Mafia and the IRS,
is that the Mafia has a code of honor. 

I would not be surprise if bitcoins ended up being some sort of conspiracy 
by someone to render cash obsolete and *SPY* on you.
ET 

PS: The fact that I am paranoid, doesn't mean that they are not after me... 

 

John Aldrich writes: 

> Quoting Tyler Mittan <flashbatmanquestion at gmail.com>: 
> 
>> 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. 
>> 
> Exactly. Now I don't have a dog in this fight because I don't mine  
> bitcoins or own any. However, the argument that the US dollar has  value 
> because people accept it as payment also holds true for  Bitcoins. As long 
> as people are willing to accept it, it has value.
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