Bitcoins

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Originally Posted by -:Undertaker:-

Ah I see, well that's good - as with below.



That is a strength for a currency, not a weakness.

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And the bit about drugs? Is that good too?

I would argue it fails to be a strength when there is so little a tiny amount is worth literally millions.. that would mean many would not have any.

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Originally Posted by Payasam

And the bit about drugs? Is that good too?

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Never commented on drugs, it's not the topic being discussed.

Made my opinions on drugs pretty clear over past few years - i'm for legalisation provided the welfare state and national healthcare services are privatised so that the taxpayer wouldn't be forced to pay for the stupidity of drug users.

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Originally Posted by Payasam

I would argue it fails to be a strength when there is so little a tiny amount is worth literally millions.. that would mean many would not have any.

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You confuse currency with value, goods and services are what are wealth. If we both have two chips between us compared with 200 chips each - those 100 chips we both hold are equal to the two chips just they are denominated in lesser amounts.

Printing more or having more of a currency doesn't create wealth.

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Originally Posted by -:Undertaker:-

Never commented on drugs, it's not the topic being discussed.

Made my opinions on drugs pretty clear over past few years - i'm for legalisation provided the welfare state and national healthcare services are privatised so that the taxpayer wouldn't be forced to pay for the stupidity of drug users.



You confuse currency with value, goods and services are what are wealth. If we both have two chips between us compared with 200 chips each - those 100 chips we both hold are equal to the two chips just they are denominated in lesser amounts.

Printing more or having more of a currency doesn't create wealth.

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I am well aware it doesn't create wealth, but you need to control currency at least to some extent.

It is also completely stupid to refuse to comment on the first bit - you clearly don't understand the topic at all well; Bitcoins survive on websites like Silk Road (I assume you know what that is). .onion websites often use Bitcoin if they operate through sales; and that is the problem with the entire currency.

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Originally Posted by Payasam

Bitcoins survive on websites like Silk Road (I assume you know what that is). .onion websites often use Bitcoin if they operate through sales; and that is the problem with the entire currency.

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Not sure why you believe that certain purchases make an entire currency problematic - is the dollar useless because so much of it is spent on weapons? A pound coin is a pound coin whether I use it to buy rocks paper or scissors, and Bitcoins are just the same since they are a real currency and not HxF tokens or some other such virtual currency

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Originally Posted by FlyingJesus

Not sure why you believe that certain purchases make an entire currency problematic - is the dollar useless because so much of it is spent on weapons? A pound coin is a pound coin whether I use it to buy rocks paper or scissors, and Bitcoins are just the same since they are a real currency and not HxF tokens or some other such virtual currency

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A certain purchase which makes up the majority of sales is slightly different than a currency where a pathetic percentage of it is used to buy weapons.

The issue isn't with that by itself though, it's the fact that it is so anonymous; and therefore so easy to hide.

Sent from my HTC One X

On its own it's no more anonymous than keeping a tenner in your wallet; the only reason Silk Road was able to hide much of its activity and user identity was because they invented an electronic version of money laundering which is an illegal practice in most modern countries, so again it's the use of the currency and not the currency itself that is at fault

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Originally Posted by Jared

Sadly, BTC isn't looked at like regular hand held currency and I just can't walk up somewhere and use an ATM to withdraw all the money. $276,210 just chilling online, while I sit here trying to pay ends meet to keep the power on haha.

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You can convert BTC to USD through a variety of services. Coinbase is a popular service, for example.

Bitcoins are the Habbo credits of real life.

My thoughts are its far to inflated now - I wouldn't be surprised of sever consequences occuring from this like the GFC there was a high before a HUGE dip.

i bought 10 litecoins yesterday for £63. already gone up to around £100 for 10