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Re: [tor-talk] US Senators Seek to Crackdown on Bitcoin
Pad 0c wrote:
- I bet on the fact that others will came after me.
- I bet that bitcoin will be still used at some later point.
Only the first describe a ponzi scheme and I think only the second apply for
This is very true and is something which differentiates BitCoin from a
ponzi scheme. The ponzi scheme is ALWAYS based on nothing right to its
But BC does have INTRINSIC value, because it...
1. has only a known/set limited availability
2. is provably unforgeable
these are the qualities desirable in ANY value based exchange token
(barter), whether it be gold bullion, chickens or sheep. This is why
England used the "tally stick", for a long time, when England had no
Gold etc, it generated a barter system based it.
So BC is also a barter substitute (or currency), that is this all the
same, its just a token between.
At the end of the day, it matters not a single jot what its current
comparative value is, as long a people are trading it. For day to day
transactions, it is ALL that is needed. But for horders, banksters and
other similar blood sucking manipulators, they cannot predict its value
in the long term, and this they hate, as there is no "promise to pay the
bearer" anything. So they will slander it. As more people trade in it,
then the more stable it becomes, as people get frightened a government
will collapse (not just outlaw) it, then its use will fall and so too
will its price.
I have had my own reservations about BitCoin, that is, that its
designers did not anonymize BitCoins rendezvous and had non-anonymously
centralized itself so it could be attacked by a hostile government, like
it is being attacked now by the US.
I think it is highly likely that the drug supplier "Silk Road" is a
protected CIA black op. to attack BC and to destroy it. This was an
obvious draw-back right from the start and was the reason I stopped
generating BC's a long while back. Governments and other evil people do
not play fairly, so never assume they will. The designers of BC did
assume just that, and that was there error. To design adn test it was
one thing but the implementation had to be completely anonymous.
What needs to be done is that a NewBitCoin (NBC) system needs to be
started up behind hidden services and for them to offer a swap with the
existing BC. Perhaps there should even be "official" completely
anonymous NBC consortium with several NBC servers each doing multiple
NBC i.e. NBC1, NBC2, NBC3 etc (all interchangeable currencies - at least
at the start), so as to be locationally robust.
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