[Chugalug] Bitcoins: It's all about cash, that is, the real stuff

James Nylen jnylen at gmail.com
Wed Sep 4 15:02:26 UTC 2013


In a gold rush, the people who really make money are the ones selling the
shovels.  Especially if they can create bigger and better shovels before
anyone else, which gives them the opportunity to use them exclusively for a
while...

Having said that, there are still people who will buy shovels and make a
lot of money by using them wisely.


On Wed, Sep 4, 2013 at 9:37 AM, John Aldrich <jmaldrich at yahoo.com> wrote:

> Quoting wes <wes at the-wes.com>:
>
>  I don't have a dog in the bitcoin fight, however I do want to bring to
>> light one point which you did not address:
>>
>> the world needs a usable independent currency.
>>
>> as society moves inexorably towards globalization, more and more strife is
>> coming from the varying values of money. people are going to war over
>> inflation. even if bitcoin crashes and burns, it will serve as a learning
>> experience to the next attempt to achieve a global currency. the lessons
>> we're learning right now will be our education on the subject.
>>
>> if it's a scam, it will eventually come out, and we'll learn how to make
>> the next one non-scammy. until then, people should be free to invest in
>> this hobby, to win or lose money as they see fit. most of the audience
>> your
>> messages are reaching are very aware individuals who aren't easily fooled.
>> every time you repeat "you're all being scammed!" you are insulting our
>> collective intelligence.
>>
>> that doesn't mean I think you should refrain from commenting on the
>> subject, but I would really like to see something more specific or
>> substantial. most of what I'm seeing from you can be paraphrased as the
>> above repeated statement.
>>
>> thanks,
>> -wes
>>
>>  I, too, don't have a dog in the fight. I have considered getting into
> the "game", but I don't have an extra $5K to plunk down on something that
> won't even begin to pay me back until next year at the earliest. I guess
> I'll have to wait until the knock-offs start coming out and the price for
> these things drops. Right now it's a seller's market and Butterfly Labs is
> making a mint because there's a shortage of machines capable of doing this.
> One has to wonder if it's an intentional shortage or they just can't make
> 'em fast enough? Either way, the fact of the matter is they're getting rich
> as they are the only ones I know of producing the equipment.
>
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