[Chugalug] More on Bitcoin:

Chad Smith chad78 at gmail.com
Thu Aug 22 16:52:21 UTC 2013


It's like POGs.

Remember POGs?

BitCoins are like POGs.  Really, in and of themselves, that have absolutely
no value.  But, for a while in the 90s, some people got RICH off of POGs.
 Why?  Because they were able to convince people they needed to have them.

People bought into it - and some of *those *people also got rich - because
they collected and traded and sold them.

Eventually, it all came crashing down, because it is very hard to keep
convincing people they need to spend actually real-world money on little
cardboard discs.

BitCoin is POGs for the Twenty-Teens Tech Geek.  It won't last.  But there
will be people who make money off of it.  To them I say "Enjoy it while it
lasts."

*- Chad W. Smith*


On Thu, Aug 22, 2013 at 11:40 AM, Aaron welch <n2nightfall at gmail.com> wrote:

> Me too, me too.
>
> -AW
>
>
> On Thu, Aug 22, 2013 at 12:36 PM, Lynn Dixon <boodaddy at gmail.com> wrote:
>
>> Aaron,
>> This is something I have been doing for the last couple of years.
>>  Bitcoin mining, and trading has been very profitable for me. I can't say
>> for certain that it will always be this profitable, but I am damn sure
>> going to ride this curve for as long as its making me money.
>>
>>
>> On Thu, Aug 22, 2013 at 12:00 PM, Aaron welch <n2nightfall at gmail.com>wrote:
>>
>>> Agreed.  Lets stop arguing about its merits and downfalls and focus on
>>> the important parts...  Make the money now before they figure out how to
>>> devalue it.
>>>
>>> -AW
>>>
>>>
>>>
>>> On Thu, Aug 22, 2013 at 11:44 AM, Bret McHone <dbmchone at gmail.com>wrote:
>>>
>>>> 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.
>>>>>>>>>
>>>>>>>>>
>>>>>
>>>>> _______________________________________________
>>>>> Chugalug mailing list
>>>>> Chugalug at chugalug.org
>>>>> http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>>>>>
>>>>> _______________________________________________
>>>> Chugalug mailing list
>>>> Chugalug at chugalug.org
>>>> http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>>>>
>>>>
>>>>
>>>> _______________________________________________
>>>> Chugalug mailing list
>>>> Chugalug at chugalug.org
>>>> http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>>>>
>>>>
>>>
>>>
>>> --
>>> Aaron Welch
>>> Chief Mechanic @ Geek Ventures
>>> 423-505-9999
>>> n2nightfall at gmail.com
>>> "Enabling people to do great things with their own ideas."
>>>
>>> _______________________________________________
>>> Chugalug mailing list
>>> Chugalug at chugalug.org
>>> http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>>>
>>>
>>
>> _______________________________________________
>> Chugalug mailing list
>> Chugalug at chugalug.org
>> http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>>
>>
>
>
> --
> Aaron Welch
> Chief Mechanic @ Geek Ventures
> 423-505-9999
> n2nightfall at gmail.com
> "Enabling people to do great things with their own ideas."
>
> _______________________________________________
> Chugalug mailing list
> Chugalug at chugalug.org
> http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://chugalug.org/pipermail/chugalug/attachments/20130822/508b4656/attachment-0001.html>


More information about the Chugalug mailing list