[Chugalug] More on Bitcoin:

Randy Yates lpcustom at gmail.com
Thu Aug 22 17:19:15 UTC 2013


Give the dollar time.

"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."

This is criticizing any fiat currency, and I agree with it. The dollar is
only worth something as long as people are convinced it's worth something.
It's had a good run as a standard world currency, but all world currencies
reach their end, and the results are not fun.


On Thu, Aug 22, 2013 at 1:12 PM, Stephen Kraus <ub3ratl4sf00 at gmail.com>wrote:

> POGs crashed entirely. The dollar crashes but pretty much always bounces
> back as the global economy follows the market cycle.
>
> Thats the problme with your criticism of Chad's argument.
>
> Also, no matter how devalued the dollar is right now, I can buy my lunch
> with it. If I offered pogs or even bitcoin alll I'd get is funny looks or a
> heartfelt apology and rejection
> On Aug 22, 2013 1:09 PM, "Randy Yates" <lpcustom at gmail.com> wrote:
>
>> What's humorous with Chad's entire argument is that the same could be
>> said about the dollar.
>>
>>
>> On Thu, Aug 22, 2013 at 1:05 PM, Stephen Kraus <ub3ratl4sf00 at gmail.com>wrote:
>>
>>> I think you summed that up well Chad
>>> On Aug 22, 2013 12:53 PM, "Chad Smith" <chad78 at gmail.com> wrote:
>>>
>>>> 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
>>>>>
>>>>>
>>>>
>>>> _______________________________________________
>>>> 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
>>>
>>>
>>
>>
>> --
>> Google reads my email!
>>
>> _______________________________________________
>> 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
>
>


-- 
Google reads my email!
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://chugalug.org/pipermail/chugalug/attachments/20130822/2de9d07a/attachment-0001.html>


More information about the Chugalug mailing list