Friday, November 15, 2013

More on Bitcoin

From Mr. Kerry Lutz.


Anonymous said...

"An unbacked currency can never be worth the paper it’s not printed on."

I know how to kill Bitcoin and impose the USD as the dominant one world currency.

Aeroguy said...

It's well known how much I hate the banks. Today I put my money where my mouth is. As a protest against the FED, it's banker cronies and the stealth tax of printing more money to cover debts, I bought Bitcoins.
It's a decentralized digital currency that has no central bank. I'm under no illusions about the brief history of digital currencies, almost all of them have gone belly up (I'm only putting in as much as I'm prepared to lose completely). Bitcoin isn't an investment, it's an experiment in economics.
An experiment that is paving the way to a fiscal alternative to State controlled currencies with printing presses that connect directly into feeding the banks. We won't have to take it laying down anymore, this gives us the option to take our ball and go home.
Like gold, a digital currency can even hold up in the event of a total fiscal collapse of the global banking system. Make no mistake, Bitcoin itself is unstable and very volatile, I'm not buying into it because it's practical, I'm buying into it on principle. Digital currencies could be the answer I've been looking for. It may answer the question of how could we peacefully dispose of the banksters and survive the economic pain to come.

I wrote that March 6th when I bought $500 worth of bitcoins when it was trading at about $45. Being rewarded for my principles, priceless.