Luke's 7k Post: A baller's bitcoin biz plan

guerilla said:
2 minutes in, and again Stefan is a disaster when it comes to talking about economics. Strawman, strawman, strawman.

This is like asking Barack Obama to give a talk about human freedom.

I'd be embarrassed to link this video. Were you embarrassed when you linked it?
Click to expand...

Why are you trying to shame me bro?

2020398.jpg
 


JarredLv said:
The governments quasi-approval of bitcoin would worry me. If they allow bitcoin to operate as-is fully knowing that it's used to purchase illegal goods and traffick money between terrorist, there is a reason. My guess is they know something we don't.
Click to expand...

Maybe the CIA views bitcoin as a good way to sell their heroin. :)
 
dreamache said:
The Pros and Cons of Bitcoin - What You Need to Know! - YouTube
Click to expand...

So he's saying that a positive for Bitcoin is that it can easily be created out of thin air instead of having to be physically mined for like gold? That's like pointing out that a positive for toy cars is that they are easier to manufacture than real ones.

Below from 2011 at around 3 minutes he says "1971, when Nixon decoupled the US dollar from gold, I think that's when you account the real airy fairy tied to nothing fantasy camp of paper money."


[ame=http://www.youtube.com/watch?v=Dfks6IRtXBk]Death by the Paper Cuts of Fiat Currency! Stefan Molyneux on Free Talk Live - YouTube[/ame]



If US dollars are tied to "nothing", then what is Bitcoin tied to?

If US dollars remind one of "fairies" and "fantasy", then how about something being traded on the former Magic the Gathering Online Exchange?
 
guerilla said:
And you missed my point.
Click to expand...
No, I didn't. We'll just have to agree to disagree, because I keep failing to make my point clearly.

guerilla said:
The statements I make are specific and clear. Why can't you respond in a similar manner?
Click to expand...
I disagree with your specific point, but the explanation for my disagreement is apparently too large and complex a subject for me to communicate effectively.

I have no one but myself to blame for this.


guerilla said:
Understanding economics is not "old world knowledge". It's just knowledge.
Click to expand...
I agree that economics itself is timeless... But your understanding of economics would interpret the Regression theorem as not able to deal with intangibles.

The problem with that understanding, which I have to refer to as the 'old world knowledge' is that the intagibles are rapidly becoming the most useful & therefore valuable things to own.

Mises just didn't imagine the decentralized internet of 2013, that's all. I bet if he were alive today he'd modify his theorem to equate bitcoin to gold.

If he were alive in 2020, he'd be forced to admit that bitcoin is superior to gold in every important way.


guerilla said:
you've failed to articulate it.
Click to expand...
Agreed. Again, I blame myself.



JarredLv said:
The governments quasi-approval of bitcoin would worry me. If they allow bitcoin to operate as-is fully knowing that it's used to purchase illegal goods and traffick money between terrorist, there is a reason. My guess is they know something we don't.
Click to expand...
Don't worry bro; this is not unexpected at all.

The most likely mindset here that the most facts support is that now quite a lot of our senators and regulators see that china and some other countries have all far surpassed the USSA in bitcoin usage and innovation. The hearings confirmed this. They're simply realizing that the ball is leaving their court, and with it goes amazing opportunity. If the ball is in China's court then they can't control said ball and therefore they can't tax it very well nor use it against say us and China too for that matter.

So they simply have realized that "want the ball back" now, but still can't come out and force the banks to accept this thing that threatens them. Remember, banks own governments, not the other way around.

Even if obomba had a special primetime announcment and begged us all to buy bitcoins and embrace them wholeheartedly; the banks here in the USSA will still turn away bitcoin-involved business like they've been doing so far simply because they can, and it's smart for them to stifle the competition.

All that being said, sure; DHS or the SS might be looking at a way to attack bitcoin still, but have learned that it won't be easy, so they have to play on both courts for now.


Moxie said:
So he's saying that a positive for Bitcoin is that it can easily be created out of thin air instead of having to be physically mined for like gold? That's like pointing out that a positive for toy cars is that they are easier to manufacture than real ones.
Click to expand...
I beg to differ bro.

Toy cars can't get you from point A to point B. He's saying that Bitcoin isn't 'worthless thin air' -It is 'Thin air that's worth as much as gold is because of its' utility.'



Moxie said:
If US dollars are tied to "nothing", then what is Bitcoin tied to?
Click to expand...
Gold was worth something because of its' special properties... Dollars were not and are not worth their claimed value of gold, but tying them to gold sure made us feel better about holding dollars.

Those who don't understand bitcoin yet don't see that the special properties in bitcoin are all superior to the special properties in gold... So it would be kind of insulting to 'tie' a bitcoin to anything else. They're worth far more than anything else you can tie them to.

Don't want to take my word about it being superior in every way to gold? Check this great argument out:

[ame=http://www.youtube.com/watch?v=_4QFErOdTag]Bitcoin 101 Blackboard - Bitcoin Vs. Gold - How Bitcoin Could Take Over a Trillion $ Market - YouTube[/ame]

The only thing I'd like to add to his argument is that Divisibility is in fact NOT a tie... Although gold can be divisible down to specs of gold dust; it takes effort and then the tiny gold flakes are not uniform in size and hard to keep track of and count... Meanwhile with bitcoin you can divide, keep track of & trade the 'bitcoin flakes' down to the 10,000,000th place as effortlessly as you can divide, keep track of and trade any other sized-unit.

Bitcoin clearly wins divisibility too.
 
lukep said:
The most likely mindset here that the most facts support is that now quite a lot of our senators and regulators see that china and some other countries have all far surpassed the USSA in bitcoin usage and innovation. The hearings confirmed this. They're simply realizing that the ball is leaving their court, and with it goes amazing opportunity.
Click to expand...

Or they're just all secretly creaming their pants with how easy and convenient it's become to accept & send bribes in exchange for political favors. :)

Lobbyists and others who like having political favors done for them probably think this whole Bitcoin thing is quite good too. Or just in general, if you want to support an organization you can't be seen supporting, Bitcoin works well.

It's a great earner for the FBI. Just look at how much they seized from Silk Road.

The CIA probably quite likes it, due to their drug sales. Plus, need to fund a militia you can't be seen funding? Bitcoin it! Well ok, that last one comes in a few years after more widespread adoption.

Shit, no wonder you don't hear any politicians complaining about lost tax revenue.
 
Hey Luke. Just noticed bitstamp has caught up to mtgox and are currently trading at the same price ($763). What is the significance?
 
so what are you guys doing now for setting up an offline wallet for security purposes, the easiest setup that even my granma could do? tablet pc using some sort of software (bitcoin armory, etc), paper wallet, etc. Used to be pretty complicated. hopefully it's now pretty simple.
 
dmnEPC said:
Hey Luke. Just noticed bitstamp has caught up to mtgox and are currently trading at the same price ($763). What is the significance?
Click to expand...
It looks like bitstamp is having some of the same problems that gox had, namely making it hard to get fiat out:

Bitstamp Shows Higher Bitcoin Price Than Mt. Gox


sennin436 said:
so what are you guys doing now for setting up an offline wallet for security purposes, the easiest setup that even my granma could do? tablet pc using some sort of software (bitcoin armory, etc), paper wallet, etc. Used to be pretty complicated. hopefully it's now pretty simple.
Click to expand...
Multibit or electrum. It's not really simple enough for grandma now though.
 
You must log in or register to reply here.
Top Bottom