posted on Sep, 20 2017 @ 12:52 PM
Frankly it is shocking how little people understand about what "money" is and yet they will speak their ignorance with a kind of confidence that
Bitcoin is a thing, an item, like a diaper. I can trade a diaper for a chicken, or I can keep it. A diaper is a thing, like gold. Bitcoin, while
mathematical in nature is a THING. You can accept them as a means of transaction if you like or not, you can accept a diaper as a means of transaction
or not. Those are things.
A Federal Reserve Note is a PROMISSORY NOTE! Look up, right now, what Promissory Note means if you want to understand what bitcoin is not, then look
at your dollar for the word NOTE. The Dollar is a PROMISE TO PAY, an IOU, it is not, I repeat NOT A THING and it is not money! The dollar is a
PROMISE, and the bitcoin is a thing. If you can't get that into your head your "thoughts" are worthless and your thoughts about "banks" is beyond
The reason banks control the actions of the dollar, taxes mostly, is because they are the controllers of the issuance of the DEBT NOTES based on YOUR,
YOU, PEOPLE READING THIS, commitment to cover the debt with real energy in the form of labor. You agreed to fund the debt notes with you labor.
Money. Folks think the dollar is money, IT IS NOT! There is no money, the government took the money, gold, away in 1933 and replaced it with promises
to pay notes. So, believe it or not, writing "I promise to pay you xxx" on a napkin (with signature) is EXACTLY the same as the the dollar, identical.
Bitcoin is not a promise to pay, it is a thing, which may or may not have the value of a diaper.
If you do not understand these concepts you will not have an informed discussion on the topic. The banks have NO RIGHT to regulate, tax or otherwise
control bitcoin unless folks demand it based on their ignorance, and they have begun the action by simply tying the bitcoin value to the PROMISE TO
Now, work out this equation. A bitcoin is "worth" 4500 promises to pay, 4500 napkins with the words "I will pay you...".