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Originally posted by caladonea
I don't like (Bitcoin) and I never will; to me it is just not a trustworthy place to place my money.
I like currency and coin that I can hold in my hands.
Originally posted by TheNewRevolution
There is no physical existential value to this currency. It can be taken from you by hackers. It can be deleted at a moments notice. If the sun decided to flare up - all of it would be gone and $1 billion dollars would disappear from bank accounts overnight.... ...The only way a currency will ever be worth anything is if it is physically backed by something.
Originally posted by TheNewRevolution
Fulfilling Thomas Jefferson's dream? Jefferson's dream was fulfilled when the Revolution was fought and the colonist's moved away from the central bank of England and the Treasury and Congress took over monetary rights and thus THE PEOPLE took over the monetary rights of the nation. Hamilton installed the first Central Bank, and it dissolved in 1811. Madison created the Second Central Bank which laster until Jackson destroyed that. From 1837-1913 the United States had its freedom from a Central Bank. Jefferson had his dream and the Federal Reserve has crushed it ever since.
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."
"The system of banking we have both equally and ever reprobated. I contemplate it as a blot left in all our constitutions, which, if not covered, will end in their destruction, ... I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."
Thomas Jefferson, in a letter to John Taylor, May 28, 1816.
Originally posted by sk8ter
reply to post by wasaka
I don't understand the thinking about CMEs WW3 and all the other things, what does that have to do with bitcoins.. Aaa never mind..
What The Rise Of Bitcoin Teaches Us About Money
One of the more interesting elements of Bitcoin is its rise as a purely endogenous form of money. I often refer to bank money as endogenous in that it is created entirely INSIDE the private sector, but even bank money exists on a centralized system (the US payments system) that is regulated by US government law. But Bitcoin is completely decentralized and a purely endogenous form of money. So the decentralization creates a form of money that has grown entirely independent of government and its taxes. In other words, Bitcoin proves that money can exist ENTIRELY for the private purpose for the means of transaction. This not only shows that money can be entirely endogenous and independent of government, but that it can also grow entirely independent of government taxation.
Read more: pragcap.com...
Bitcoin Is The Perfect Asset Bubble -- Prices Could Go Vastly Higher From Here
The premise and promise of Bitcoin--the part that appeals to folks who don't happen to be gold bugs, conspiracy theorists, or cryptography geeks (obviously they all love it)--is that the current plan is for only a finite number of Bitcoins to be created. This is in direct contrast to standard government-issued currencies, which governments can always print more of. If the supply of Bitcoins remains finite, this should theoretically eliminate inflation, which is one of the biggest drawbacks of paper money.
Read more: www.businessinsider.com...
Originally posted by Mandrakerealmz
reply to post by Komodo
I convert it back to NZD to spend at the moment. I made money and it has helped me pay bills and medical bills I have been putting off ^.^
So now my health is massively improving and i'm not stressing about money. In those ways its changed my life.
Edit: to clarify. I made money off day trading between the various currencies. Not by just buying BTC and holding. (although that too would have made money) as the perceived value has risen.
But I made my money by Day Trading.edit on 2-4-2013 by Mandrakerealmz because: (no reason given)
42-year-old media entrepreneur Jeff Berwick hopes to bring Bitcoin ATMs to a city near you soon.
Berwick expects to put the first two ATMs in Los Angeles and Cyprus in the next two weeks and is choosing between several different retail locations in both areas. He added that orders are coming in by the hundreds from 30 different countries.