[Chugalug] More on Bitcoin:

Bret McHone dbmchone at gmail.com
Thu Aug 22 15:44:43 UTC 2013


http://www.youtube.com/watch?v=xmFXEcI_AA4   This about sums it up.

-B

On Aug 22, 2013, at 11:27 AM, Stephen Kraus wrote:

> All you are doing by proposing replacing a regulated form of currency with a limited by design crypto currency is introducing the same problems we ditched by leaving gold backed currency.
> 
> It is deeply ironic that bitcoiners decry regulation without fully understanding that is exactly what large, monopolistic buisnesses want, or a magical free market thatwe technically had in the early 1900s and only led to massive worker and market abuses.
> 
> It is with even deeper irony that you decry government manipulation of markets, when the exact opposite led to massive and disastrous market fluctuations.
> 
> It is with the deepest irony that you decry manipulation of markets without realizing that studying and learning to manipulate markets is the ENTIRE point of economics.
> 
> Like I said, when pigs fly.
> On Aug 22, 2013 11:12 AM, "Matt Keys" <mk6032 at yahoo.com> wrote:
> 
> http://www.cnbc.com/id/100923551
> 
> 
> On 08/22/2013 10:57 AM, Stephen Kraus wrote:
>> If it happens, I'll be waiting for the flying pigs.
>> 
>> On Aug 22, 2013 10:00 AM, "Matt Keys" <mk6032 at yahoo.com> wrote:
>> 
>> Bitcoin is already an accepted form of payment. Some employers like the Internet Archive already give that option to their employees. In other words I see bitcoin as a stabilizing factor in a crisis like that. In order to keep food, water, shelter, etc. you'd need to pay those employees that keep those utilities going... so you're gonna pay them in sandwiches, water, and bullets -- or bitcoin? How would you collect payments if you're an employer?
>> 
>> What happened in Cyprus is a fact. Another fact that took place around 80 years ago... "executive order 6102". Governments historically try to seize or ban when they're loosing control or wanting control of something -- land, water, shelter, guns/ammo... even money.
>> 
>> On 08/22/2013 08:59 AM, Stephen Haywood wrote:
>> If the Euro, or Dollar go belly up, the most usable currency for a few weeks or months will be water, food, shelter, and protection, not bitcoins. Now, after things stabilize, bitcoins might rise up to be the new Euro/Dollar but it is very unlikely.
>> --
>> Stephen Haywood
>> Owner, ASG Consulting
>> CISSP, GSEC, OSCP
>> 423.305.3700
>> stephen at averagesecurityguy.info
>> 
>> 
>> 
>> 
>> On Aug 22, 2013, at 6:05 AM, Matt Keys <mk6032 at yahoo.com> wrote:
>> 
>> Yeah, have fun...
>> 
>> Have fun trying to keep track of who's behind the IP in each transaction... have fun trying to "regulate" a peer-to-peer network with no central authority. Downloading copyrighted material using bittorrent has been deemed illegal and has been "regulated" by various authorities... does it still happen? Do the authorities know exactly how often this happens, from where, to/from whom?
>> 
>> The usual political fear mongering won't work. I think what's happening is that governments are starting to wrap their heads around this gigantic problem -- "how the hell are we going to continue business as usual if this really takes off worldwide?"
>> 
>> This guy quoted on the cnbc article has the right idea, but he's thinking about it in the wrong direction : "If the euro does go belly up the German authorities could potentially still collect tax if everyone started using the bitcoin - that's a good example of German forward-thinking!" -- http://www.cnbc.com/id/100971898 . If the Euro goes "belly up" nobody is going to give a shit about German taxes. They're going to dump their Euro money, as fast as possible, to bitcoin and another forms of money. Think Cyprus crisis v2.0 on an exponential scale.
>> 
>> 
>> On 08/21/2013 04:21 PM, Stephen Kraus wrote:
>> Yeah, guess what it means.
>> 
>> You have to report any profit you make from Bitcoin on your taxes. Have fun!
>> 
>> 
>> On Wed, Aug 21, 2013 at 3:59 PM, Tyler Mittan <flashbatmanquestion at gmail.com> wrote:
>> Looks like Bitcoin is being recognized as "private money" by Germany:
>> 
>> http://www.cnbc.com/id/100971898
>> 
>> For those that don't take Austrian economics seriously, notice the name drop of F.A. Hayek.
>> 
> 
> 
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