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

James Nylen jnylen at gmail.com
Wed Sep 4 18:48:44 UTC 2013


Rod - The Euro is the EXACT OPPOSITE of decentralized.

Wes - I think Bitcoin is an excellent "first attempt" at a decentralized
currency.


On Wed, Sep 4, 2013 at 12:31 PM, Rod <rod-lists at epbfi.com> wrote:

> **
> A decentralized currency hasn't worked for the Euro.
>
> On Wed, 04 Sep 2013 12:04:59 -0400, wes <wes at the-wes.com> wrote:
>
> That is an excellent point - I believe having a central bank is a bad
> solution to an artificial problem. hopefully we can someday create a system
> that doesn't require one.
>
> -wes
>
>
> On Wed, Sep 4, 2013 at 8:26 AM, Rod <rod-lists at epbfi.com> wrote:
>
>> So who is the central bank? One problems overlooked in the euro crisis is
>> that those countries no longer have soveriegn currency that is managed by a
>> central bank.
>> Even the alleged  Central Bank of the European Union lacks the basic
>> authority that our Fed. has.
>> What is the equivalent in bitcoins?
>>
>> On Wed, 04 Sep 2013 02:18:42 -0400, wes <wes at the-wes.com> wrote:
>>
>> 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
>>
>> -wes
>>
>>
>> On Tue, Sep 3, 2013 at 9:23 PM, Mike Robinson <miker at sundialservices.com>wrote:
>>
>>> Now, mining has largely become a matter of getting your hands on the
>>> newest
>>> miners [[ early enough to generate a profit (barring another bubble). ]]
>>> There
>>> are [[ very few ]] [[ technical ]] barriers to mining other than cash.
>>> Right now, that
>>> requires a minimum $5K [[ investment ]] and [[ may ]] not deliver
>>> returns [[ any time soon
>>> (if at all). ]] [[ That is, barring another bubble. ]]
>>>
>>>
>>> "There are none so blind as those who will not see."
>>>
>>> YES, "there are NO technical barriers to 'mining.'"  Other than the
>>> O-N-E ... T-H-I-N-G ... that actually matters to the clever mathematicians
>>> who conceived of it:
>>>
>>> UNITED STATES DOLLARS.
>>>
>>> You're paying $5,000 USD for "a magical money machine," and it's
>>> S-L-O-W-L-Y dawning on you that the words which I have enclosed in [[
>>> double brackets ]] can be omitted entirely from these sentences.
>>>
>>> You're being very cleverly suckered.  It's as simple as that.  And,
>>> you're pouring serious money ( >= $5000 USD ) into "the same damn con" that
>>> has been foisted upon "clever, smart" (sic) people, well, since time began.
>>>
>>> "Public-key cryptography" is designed around a truly-intractable (so far
>>> as we know ...) mathematical problem. Whereas "bitcoin" is designed around
>>> a =difficult= problem (at least, "difficult" in the way that all of you
>>> have been taught to approach it ...), yet "not so difficult that it cannot
>>> be, by sheer brute force, periodically solved."  A quarter has to drop out
>>> of the one-armed bandit now and then, just to keep the suckers going.
>>>  Obviously, there IS a "private key" to this puzzle, and, equally
>>> obviously, you don't have it.  All of this is plenty good enough to enable
>>> people to sell you(!) these mathematical one-armed bandits for $5,000 USD a
>>> pop.
>>>
>>> There is no "bubble."  There is only:  "sucker."
>>>
>>> " ... and two to take him."
>>>
>>>
>>> _______________________________________________
>>> Chugalug mailing list
>>> Chugalug at chugalug.org
>>> http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>>>
>>>
>>
>>
>>
>> --
>> Using Opera's mail client: http://www.opera.com/mail/
>>
>> _______________________________________________
>> Chugalug mailing list
>> Chugalug at chugalug.org
>> http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>>
>>
>
>
>
> --
> Using Opera's mail client: http://www.opera.com/mail/
>
> _______________________________________________
> 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/20130904/50526acf/attachment-0001.html>


More information about the Chugalug mailing list