If you wouldn't endorse it as an investment vehicle I sure as hell cannot imagine you'd endorse it as a currency, and so what would you endorse it as, if anything?I had a lot of fun with bitcoin, got 2 new video cards and came out about $500 ahead. I also learned a good bit about finance/economics and currency speculation. I would not endorse it as a sound investment vehicle, but I think it is awesome, even in the face of people who say it is a scam (usually while demonstrating a lack of understanding of its nature or purpose).
CFTC is 'exploring' bitcoin regulations, according to FT. Translation: Bitcoin fought the fiat and the fiat won.
As soon as it gets regulated expected the price to crash. The government isn't going to just sit by while a new currency forms that they can't get their grubby hands on.
Gyft app, they should have called it grift.Why Bitcoin Will Succeed
Up 10% this morning, either the Gyft app or China finally starting to invest. Interesting stuff.
U.S. officials dealt a blow to the fledgling digital currency called Bitcoin, freezing an account tied to the largest Bitcoin exchange just months after regulators warned such entities should follow traditional anti-money laundering rules.
Those who are using Bitcoin as a means to try to foil currency controls or state prohibitions on certain transactions are asking for a criminal indictment not only for the original evasion act itself but also the possibility of a money-laundering indictment on top of it, and the proof necessary to hang you in a court of law is inherently present in the design of the currency system!
Like one of your articles said, the proof is in the audit trail built into the coins. The records of who bought and sold what is right there. Forever.Doesn't make it any less illegal, and records have a tendency to hang around.
Just like any ponzi scheme rejections, these are the hates of our life.
Oh dear.
http://online.wsj.com/article/SB10001424127887323582904578485391717441224.html
I recall reading this a month back:
http://www.market-ticker.org/akcs-www?singlepost=3171400
Kids can get in over their heads when they play at being grown-up traders.
Don't miss what he said about capital gains in there, too. You made a profit, you gotta report it. I am betting a whoooole lot of bitcoin kiddies don't know about that, nor care about it. Doesn't make it any less illegal, and records have a tendency to hang around.
Great! You want to buy some of my sssnail coins? Even better than Bitcoin . I GUARANTEE IT!You should really educate yourself. Bitcoins are NOT an investment.
Khan Academy links
I would suggest watching all of those videos. Then when you are done, you can watch this interview with the lead programmer of Bitcoins.
Just because your small brain doesn't understand something doesn't mean the ideas are without merit. Bitcoins are a real thing, and they aren't going away unless something drastic happens(like the Earth blowing up).
Even if the US government were to make owning, selling, and using Bitcoins illegal, that would only affect people inside the USA. Bitcoins are global and it would take a massive cooperation of worldwide governments to silence it.
The fact is that Bitcoins allow people all over the world to transact and transfer wealth amongst themselves without having to rely on any sort of central agency to provide regulation and oversight. That's how the protocol is designed, that's the whole entire point. A safe, secure, and reliable method of transferring money.
Every argument anyone brings up about Bitcoins being anonymous and therefore must be used for illicit things like money laundering or tax evasion are completely misleading. Cash can be used for all those same purposes and is just as "anonymous" as Bitcoins are.
Great! You want to buy some of my sssnail coins? Even better than Bitcoin . I GUARANTEE IT!
You should really educate yourself. Bitcoins are NOT an investment.
Khan Academy links
I would suggest watching all of those videos. Then when you are done, you can watch this interview with the lead programmer of Bitcoins.
Just because your small brain doesn't understand something doesn't mean the ideas are without merit. Bitcoins are a real thing, and they aren't going away unless something drastic happens(like the Earth blowing up).
Even if the US government were to make owning, selling, and using Bitcoins illegal, that would only affect people inside the USA. Bitcoins are global and it would take a massive cooperation of worldwide governments to silence it.
The fact is that Bitcoins allow people all over the world to transact and transfer wealth amongst themselves without having to rely on any sort of central agency to provide regulation and oversight. That's how the protocol is designed, that's the whole entire point. A safe, secure, and reliable method of transferring money.
Every argument anyone brings up about Bitcoins being anonymous and therefore must be used for illicit things like money laundering or tax evasion are completely misleading. Cash can be used for all those same purposes and is just as "anonymous" as Bitcoins are.
Great! You want to buy some of my sssnail coins? Even better than Bitcoin . I GUARANTEE IT!
Nope, brain too small.So I take you didn't bother to educate yourself?
Nope, brain too small.
But, wanna buy some sssnail coins?
Wait, we're arguing? But why?So I'm arguing with a rock, great. Do you get off on being an ignorant jackass or something?
It's funny because that is basically what USD is. "These new dollars are even better than the old gold-backed dollars, because we guarantee it!"
Except a guarantee by a government or an individual or a corporation is basically worthless.
Wait, we're arguing? But why?
I'm just trying to sell my sssnail coins, what are you on about?
I want some sssnail coins! I'll give you 3 UltimateBobCoins for a dozen of them.
there's also amazon gold coins now. woo
Are you serious? The threat of force by a government is the only guarantee that means anything in this world.
Which are nothing like Bitcoins. They are issued by a central organization(Amazon), and are only worth what Amazon tells you they are worth, i.e. what you can buy with them on Amazon.
They are essentially gift cards.
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