#bitcoin RT @yiddishproverbs: "Gold's father is dirt, yet it regards itself as noble." ~ Yiddish Proverb
— Heidi N. Moore (@moorehn) April 8, 2013
#bitcoin RT @yiddishproverbs: "Gold's father is dirt, yet it regards itself as noble." ~ Yiddish Proverb
— Heidi N. Moore (@moorehn) April 8, 2013
I will buy one bitcoin only after the first person who can explain how bitcoin will work if the powergrid and internet down.
ReplyDeleteWith internet legislation like CISPA and SOPA (which will be passed at some point - its just a matter of time), why would I want to have a digital currency that the government closely monitor...
No Internet legislation anywhere in the world has been able to stop BitTorrent, and the same will be true for Bitcoin.
ReplyDeleteIf you are so concerned with SHTF scenarios, what are you going to do when the Government seizes every physical asset you own, including your precious metals? Bitcoins can be stored in multiple locations, both on and off the Internet, so can be accessed from anywhere in the world.
Most people are missing the point of BTC. It's not an investment. It's a way to buy stuff without anyone knowing about it.
ReplyDeleteRight now I can get online, use GOLD or DOLLARS to buy BTC. Then I can buy whatever the hell I want and no one will know about it. The black market and freedom are gaining enormously.
It has value in that it is an anonymous medium of exchange. There is no other anonymous method that is REALLY anonymous (I know you can track BTC down with considerable effort).
If you want to make an anonymous purchase. You get your coins. You make the purchase. It all happens very quickly and its pretty much like using PayPay as you have practically made a cash payment and they have taken a small percentage.
The value in BTC is anonymity. This is not tangible. But we all know intangible things still have value. The government is very dangerous and is getting more dangerous. That is why BTC is on the rise.
I would not keep a large amount of money "sitting" in BTC though. But I'd encourage everyone to look at it as a possibility if they need to make a one-time, sensitive transaction.