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BitCoin, the Most Dangerous Project Ever?
Jamie found a followup to the bitcoin story we've been following awhile. The article talks about the untraceable, un-hackable nature of BitCoin. They can't be locked down like PayPal, and the article predicts that governments will start banning them in the next 18 months.
Oh I don't know. The guy who was printed Liberty Coins (99% pure silver) has been told he's no longer allowed to do it. Now that the precedent is set, the US government can shutdown Bitcoin or any other form of non-Reserve currency.
My AC stalker: " I personally agree with your posts most of the time, but that won't keep me from modding you troll"
>>>Oh right, this is cpu6502 who is nothing but an idiot troll.
And you have demonstrated a lack of manners. I don't mind if someone disagrees with me. In fact I encourage it (makes life more interesting). But I don't accept being insulted just because you don't like my view of the world. Learn some tolerance please.
BACK ON TOPIC: If the Congress is the only one allowed to coin money, how come the state legislatures and banks of the 1800s continued printing their own money? And why can't States and Bitcoin or other banks do the same today?
My AC stalker: " I personally agree with your posts most of the time, but that won't keep me from modding you troll"
cpu6502 who is nothing but an idiot troll.
(Score:5, Informative)
Still think the /. moderation system is not broken? In no way shape or form should a post that INSULTS other posters be marked "informative". It should be modded "-1 flame"
My AC stalker: " I personally agree with your posts most of the time, but that won't keep me from modding you troll"
> Congress has the sole authority to coin money.
I believe at the current time and for some considerable time every Government in the world has granted to itself a monopoly in the supply of fiat currency. This is unethical, because it forces people, if they wish to use fiat currency, to use that particular currency. It is wrong to force people to do things against their will, unless you're acting in self-defense.
Moreover, monopoly leads to appalling service and abuse of priviledge, *always*.
A particular problem we see here is the manipulation of the supply of fiat currency for the benefit of the Government. One example of that is inflation, which is the transfer of wealth from those who hold fiat currency (those who have saved) to those who hold debt (those who have borrowed). The State is the massive holder of debt and the individuals who have worked and earned their wealth are those who have saved. It is theft, plain and simple, to support massive State spending.
2003:
cotton was USD50/pound
gold was 350/ounce
1/7 ratio
2011
cotton around USD220/pound
gold around USD1500/ounce
1/7 ratio
You can't handle the truth.