Chattanooga
Unix
Gnu
Android
Linux
Users
Group

 

Hot Topics:

Sponsoring:

Currency of the Apes

From: Chad Smith 
------------------------------------------------------
https://fbcdn-sphotos-f-a.akamaihd.net/hphotos-ak-ash4/t1/1797960

=============================================================== From: Lynn Dixon ------------------------------------------------------ I lost no money on the Mt.Gox shenanigans... and am still making money. There are quite a few other exchanges working very well. The currency hardly "blew up". See for yourself: http://bitcoinwatch.com/ Market cap: 6,847,716,325 USD Number of transactions every 24 hours: 21,563 Thats about 900 transactions EVERY HOUR. Average number of Bitcoin sent per hour: 19,227.40 BTC That seems very much alive. This whole Mt.Gox shenanigans has been going on for weeks now, and most people in the know have already discounted it, and moved on. It's just the media and the sheeple following the media are just now hearing of it and starting the spread the propoganda. THE SKY IS FALLING!!!!

=============================================================== From: Chad Smith ------------------------------------------------------ I'd call $350 Million just disappearing something. I'm not even talking about "potential value" - as in a falling exchange rate - I mean there are actual Bitcoins that are just plain gone now. $350 Million worth. Maybe that's not "the sky is falling" - but that's not nothing. It's also not the first time it happened. *- Chad W. Smith*

=============================================================== From: Billy ------------------------------------------------------ Don't. Be surprised if different government agencies, world wide, decide to r= egulate the exchanges. They haven't before as they didn't really have a reas= on. Now they have 350 million reasons. Sent from my iPhone bout "potential value" - as in a falling exchange rate - I mean there are ac= tual Bitcoins that are just plain gone now. $350 Million worth. ot the first time it happened. rdly "blew up". See for yourself: http://bitcoinwatch.com/ on for weeks now, and most people in the know have already discounted it, a= nd moved on. It's just the media and the sheeple following the media are ju= st now hearing of it and starting the spread the propoganda. THE SKY IS FALL= ING!!!!=20

=============================================================== From: Lynn Dixon ------------------------------------------------------ US Based exchanges already have to operate within the regs as a money transmitter. Mt.Gox was abased in Japan, so its kinda hard for US government to regulate it. CampBX and a few other US exchanges must operate well within the US laws, and they do. As far as regulating the currency itself, it will be impossible.

=============================================================== From: Stephen Kraus ------------------------------------------------------ Still not a currency. Just a stock that might have cost a few people their homes. On Feb 26, 2014 7:39 AM, "Lynn Dixon" wrote:

=============================================================== From: James Nylen ------------------------------------------------------ But... you can buy space flights with it! ( http://www.cnbc.com/id/101220710 ) And yes, I know, they exchange it to USD first.

=============================================================== From: flushy@flushy.net ------------------------------------------------------ Quoting Stephen Kraus : if you have to convert [widget] to real $$, then the point it touches real $$, it can be regulated. --b

=============================================================== From: Rod ------------------------------------------------------ On Wed, 26 Feb 2014 08:38:11 -0500, Stephen Kraus = wrote: "History shows money is an abstract institution of society and = government. As far back as 340 BC Aristotle wrote: =E2=80=98Money exist= s not by = nature but by law.=E2=80=99 He=E2=80=99s saying true money is a fiat (de= cree) of the = law." -Stephen Zarlenga, from 'The Lost Science of Money' At one point he argues money is whatever the government lets you pay tax= es = with and in Rome that included grain. He also argues Rome grew in power under a bronze coinage(fiat) system. I= t = was after the empire began acquiring gold and silver and shifted to the = = noble metals, that the decline began. = = = 50 = s = n = g =

=============================================================== From: Stephen Kraus ------------------------------------------------------ Still not a currency: Here's a tip: Any company currently accepting bitcoins does so on the premise that they will be able to trade the Bitcoins for USD. They don't care about the bitcoins, only the worth of the USD that is reflected by it. You can do this today with any stock you own as well, many major purchases of companies have been made on stock alone, but the stock itself is a worthless asset, its the USD the stock reflects to the company selling that they want, many times as soon as the shares are traded, its sold off on the market for actual currency. Hence: Bitcoin is a stock, not a currency. Its value is only transferable by the current USD worth it holds, and companies want the USD worth, not the Bitcoin value. Zarlange specifically specializes in the theory behind ancient markets, and the study of them. He is a very good scholar of such things.

=============================================================== From: Rod ------------------------------------------------------ You misunderstood me. On Wed, 26 Feb 2014 13:53:01 -0500, Stephen Kraus = wrote: = = = = g = = = , = ists not = fiat (decree) of = = . = o = = ey = = = = 't = = I = . = = = = nd = = 60

=============================================================== From: Stephen Kraus ------------------------------------------------------ Ack, forgive me Rod.