Bitcoins at $75
- Thread starter schockergd
- Start date
Thanks for posting that, I'd totally forgotten where I read that... Guess I'm reading too damn much about bitcoin these days...
This was clearly an example of a website trying to look like amazon itself. I'd have had it taken down too.
[ame=http://www.youtube.com/watch?v=PErUiAyVoGc]John Mellencamp - Crumblin' Down - YouTube[/ame]
The problem is no one knows what bitcoin is truly worth. It's impossible to value it by the same metric people use on stocks, real estate, collectibles or startups. The chart looks like a bubble but again to my earlier point maybe the real value of a bitcoin it much higher than we can imagine and the price is rapidly appreciating to this new value.
The people moving money out of Cyprus did so in a hurry, without thinking hard about the medium they were using to do so... So they haven't fully been sold on BTC, despite being rushed into it.
Of course many of them would want to cash out on the other side. Most may not even know it's a currency, but instead think of it as something like western union.
It doesn't mean there will be a massive sell off though. There are plenty of governments around the world scarring their citizens with threats of capital controls daily.
The Austrians are right to say it has no inherent worth... It is not a commodity, so be careful not to use the word "worth" as if it could have other uses than currency.
Bitcoin's value will always survive in terms of it's usefulness against tyranny.
the spend/save more in inflation/deflaton arguments are both bogus because the rate of inflation.deflation as measured by CPI tends to be so gradual that individuals wont perceive it and subsequently adjust their purchasing/saving habits. Business and household expenditures tends to be fast paced versus deflation/inflation which tends to occur a a glacial rate. Even 2% deflation which is considered to be a severe recession is the difference between a $1000 plasma tv and a $980 tv. No one notices. Consumption habits are affected by things like employment. Also the inflation.deflation isn't universal but often times among certain goods & services.
Actually there are a few. A quick search reveals that g1c9, AddisonDomains, gutterseo, and an assortment of hosting folks here all take bitcoin, and have for some time.
Namecheap and Wordpress however have more pull on this subject. Moar will join.
:2drinkspit:
A lot of possible scenarios here.
Does the 60% disagree because a dam would block the flow of water to their existing property, thus grossly violating their personal property rights?
If so that's a whole other can of worms. But they'd have every right to oppose building the dam, and the 60% would have no legal right to take or damage their property by force. So the matter would have to work itself out in a civil agreement.
If that's not the case, and no-one is opposed to building the dam, then an individual or group of individuals could finance the dam and sell the benefits it produces on the free market, hydro-electricity, the water reservoir, the new land it opens up for farming - whatever those benefits are, they could be sold, for a profit, on the free market without forcing anyone to do anything.
If the demand is there, they will profitably build the dam and everyone will benefit without forcing anyone to do anything.
If the demand isn't there, the dam doesn't get built.
You can buy a kit to test samples of a water supply for about $10. Many people would take on the responsibility of testing it for themselves. And if it's unsafe, word would spread fast, people would identify the problem and figure out how to fix it.
If you choose to live in an area prone to forest fires than it's in your best interest to purchase property insurance that protects against forest fires. It'd be in the insurance companies best interest to have the ability to protect you from forest fires.
In the case of large-scale forest fires that threatens a large area of private property I'd guess that competing insurance companies would work together to fight it, because it's in their best interest to do so. They would all face liability from their customers if they didn't.
If you live in an area highly prone to natural disasters, like frequent hurricanes and flooding, don't you think you should pay more for insurance than someone who chooses to live in a relatively safer area less likely to be hit by a disaster?
Or should that cost be socialized to society, no matter where people choose to live?
There are unlimited number of ways that you can protect yourself, your property and your family far more efficiently than the current system ever could, and you wouldn't need to threaten people with violence to do so.
When you have children it's your responsibility to support them. You feed them. You cloth them. You take care of their health. There's definitely personal responsibility involved. Which tax specifically if taken away is going to immediately harm children?
If it's a tax it's theft. If a product is so great that everyone can benefit from it I'm sure the companies offering the service will figure out a way to market it.
I pay for internet service. I pay for a cell phone. I have a car. I have a doctor.
There are a lot of things that most of society sees as beneficial, that most choose to pay for. If the choice isn't there, it's theft.
No.
And the objective is to expand your Government through violence, just like in real life. It's a fun game. But it's a game, it's not real life.
Why does giving a small group of people the power to exploit and murder do anything positive for innovation, science or impact Moore's Law?
I'm not locked into an ideology. It's a simple moral code. Does this infringe on someone else's private rights? If it hurts someone, if it takes from someone or if it legitimizes aggression or violence then it's wrong.
it's called dollar fixed exchange rate...If a bitcoin is worth $50 and a TV is $500 then it's 10 coins. If it rises to $100 then it's 5 coins. etc
I was skeptical initially but I emphatically believe bitcoin is going a lot higher based on the chart and the underlying story. I don;t see it as hedge against inflation but simply as a secure, easy alternative to transacting online. All we need are some bigger merchants accepting the coins plus news coverage and the price will skyrocket. $80 soon