Bitcoin Tops $1000

Zero Hedge ^ | 27 November, 2013 | Tyler Durden

[Errant]

Government has limited control over the infrastructure - not the technology. Stopping Bitcoins by shutting down the internet, would be like trying to stop one truckload of illegal Mexican workers looking for work by shutting down the entire US Interstate system. Then there are other governments who are embracing it, like Germany and others.

[Red Badger]

Must have been big in Vaudeville................

[dalereed]

Wouldn’t think of doing anything that stupid!

[grania]

Or something PT Barnum would be proud of?

[I want the USA back]

“it’s created from an algorithm”

We still don’t know what IT is. Algorithms don’t create anything. They are the process or procedure that a program follows to solve a problem. Programs don’t create anything. They move electrons around. People interpret the movement as creating something.

The dollar is fiat currency, but this is even less real. IT is really a person’s hope that IT can be converted into dollars at some later date and used to buy bread or milk.

Don’t give me any for Christmas.

[Errant]

MtGox: BTC $1,055 BTC: Ltc $29.55

IT is really a person’s hope that IT can be converted into dollars at some later date and used to buy bread or milk.

I would hope and look for a direct conversion to bread or milk, or something else of intrinsic value such as gold or silver. ;)

[Tolerance Sucks Rocks]

Well, now I know how we can make our own currency sound again. We can call it the bitcoin standard, with all our dollars backed by bitcoins, at, say, $1000 dollars per bitcoin.

That should work well, until a giant solar storm knocks out all the electronics in the world.

[Red Badger]

Everyone thinks Vaudeville is dead, but it's not. We have America's Got Talent, American Idol, The Voice, The X-Factor, Dancing With the Stars, et al to replace the old theater shows.......

[Errant]

Except, there can never be a "standard" and never really was ever a "standard". We screw up by not allowing the marketplace to determine values and artificially assigning "standards" to a thing. Eventually nature rights our wrong with tremendous turmoil, which we in our effort to avoid fluctuations or by seeking advantage in markets have created.

Time after time, history has shown the biggest driver to artificially control markets or a thing, is an out of control government, desperately in debt; just as we're seeing with governments around the world now.

[dalereed]

You couldn’t make me watch those if you put a gun to my head!

[Ditter]

I’m old too but I think it is a rubber boot.

[Red Badger]

Well, if you liked the old Ted Mack's Amateur Hour or Star Search, they are quite similar, especially America's Got Talent....................