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Posted on 01/09/2014 7:16:01 AM PST by Errant
Bitcoins And Unicorns: The Digital Currency Lands On The Cover Of BusinessWeek
PRESENTING Bit-PAC: New PAC Launches Just To Support Candidates Who Support Bitcoin
Angry eBay merchant plans to sue PayPal for anti-bitcoin activity
After Crackdown, a New Bitcoin King Emerges in China
Bitcoin's four steps to Wall Street acceptance
The Bitcoin-Mining Arms Race Heats Up
Alibaba bans Bitcoin amid China crackdown
These Are the Brains of the Next Bitcoin Mining Monster
Singapore Government: This is How We Intend to Tax Bitcoin
Still Don’t Get Bitcoin? Here’s an Explanation Even a Five-Year-Old WIll Understand
Of course not the Federal Reserve. :-)
Our government is the main threat to the US Dollar.
Knowledge and Power - The Need for a New Economics
About the 5th analyst calling for inflation in 2014:
Bill Gross' 2014 Investment Outlook: All About Inflation
Royal Mint Runs Out of Sovereign Gold Coins on “Exceptional” Demand
The Case of the Missing Recovery [Paul Craig Roberts]
HYPERINFLATION 2014—THE END GAME BEGINS [Shadowstats - Subscription Required]
Of course! But then the Fed was created to give cover (plausible deniability), acting as bagmen for both the government and the banksters, IMO.
I suspect anything that provides a metric they can’t manipulate will be considered a threat.
I’m hoarding all of my Bitcoins for when the grid goes down. Then I’ll be sitting pretty.
On a light day, the dollar index fluctuates to the tune of 2 - 3 times the entire value of all the Bitcoins in existence. If that is a treat to the dollar, then we’re all in much worse trouble than we’re being led to believe.
Those bitcoins are stored digitally, so how are you going to get them when the grid goes down?
Be sure to keep a paper copy stashed away. When/If the grid comes back on line, you’ll be glad you did...
The problem with all of this is portability and traceability.
If I buy $10,000 of bitcoins, and I move that money to a bank in the Cayman’s then there is a digital footprint of that transaction.
That is why bitcoin will never replace hard currency or precious metals.
While I may not leave the US with more than $10k in currency without declaring it, it doesn’t stop me from moving it in smaller quantities.
It wouldn’t be a “threat” if they all weren’t a bunch of thieves.
I believe that was the joke...
Bitcoins are really only a unique identifier for a electronically distributed ledger (Just about everyone is using electronic ledgers these days - like even your bank). You can save this code by other means (e.g., Optical Disk, Thumbdrive, Paper Printout). Copies of the ledger are stored on millions of computers around the world. It's very unlikely they'll all be destroyed by anything less than a life extinction event.
And how much could you transfer in gold behind a belt buckle?
The US Dollar has a more immediate threat to its value as currency accepted as a sound currency here in the US & abroad than Bitcoin. The Fed & Treasury have been printing paper dollars at an insane rate with no credible backing as the US debt amount has grown to an amount far beyond what our economy can generate in value, growth or what taxes can be levied to back the dollar. Other countries see this and are starting to not use the dollar to settle debt or use in country to country trade. China is putting forward its currency as a world currency as China’s economy, low debt v. trade surplus and its gold holdings make the Yuan Renminbi sound.
Well, then I’m going to make digital copies and counterfeit the bc’s. There’s only 20,000 of them, right? So I’m betting that people will misplace or inadvertently destroy their storage media and I’ll move right in. hahahahahhaa
Agree.
China is putting forward its currency as a world currency...
Who wants to trust Chinese currency or any other country's currency for that matter?
Better to trust in Cryptography, IMO. I think it really as a huge potential to put the power of the purse back into the hands of the people of the entire world. Think what that would mean in the larger scheme of things.
Good luck! ;)
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