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Found 7 results

  1. ***Split from Correspondence and Coherence*** Most upbeat. What's to stop bitcoin crashing in a year or two? There's no inherent or objective value/standard that I can see, and the huge fluctuations seen in its value point to its obvious attraction for speculators, well above the individual freedom and practicality the writer justifies. Does one want to own a speculative cryptocurrency which can soar or crash, the value varying by market demand day by day? Could make one nervous.
  2. Forbes warns, "This article is more than 7 years old." Is this because they think principles have an expiration date -- or because this piece has crossed some kind of line after which conservative pundits start proclaiming something "prophetic?" Either question would be understandable from anyone who runs into the piece, "Don't Be Silly, the Entitlement State Won't Allow Bitcoin," once news that India is banning bitcoin spreads enough. Binswanger's column focuses on actions by government in the United States, but his analysis is spot-on and applies everywhere and anytime: Don't be blind
  3. http://www.technologyreview.com/computing/38392/ This is indeed a fascinating and educational story about the bitcoin phenomenon. What it says to me, in essence, is that bitcoin cannot ever be a "real" currency, only a curiosity and a speculative instrument (or in this case, "a pyramid scheme for geeks"). Why not? Because bitcoin is not a universally accepted currency. Why can't it become one? Because it's not a universally accepted currency. Yes, it's a chicken/egg problem--and there is absolutely no way this can be broken unless all other currencies collapse. You see, vendors
  4. Article: Ron Paul: Bitcoin could 'destroy the dollar' First of all, a caveat: I'm not a Bitcoin believer. I think they have a gimmick that's capturing a lot of people's imagination, and they've walked into the limelight, but I see the hype of Bitcoin tapering off at some point. I could be wrong, but I just don't see it. Maybe they will spawn into something else, or they might find an application for their technology and do alright, but I don't see it as "the next big thing". However, Bitcoin is serving a valuable purpose in the discussion about currency and economics. It's going to cha
  5. This is not a prediction, but one plausible timeline out of the many I can imagine: Late 2013: The media reports that organized crime, tax evaders, and “terrorists” are using Bitcoin. Early 2014: Politicians call for investigation of claims that Bitcoin is being used to facilitate illegal activities. The rhetoric is ratcheted up over the course of the year. Late 2014: Bitcoin transactions have been growing exponentially for several years. The world’s established financial institutions cannot compete with the lower costs of unregulated financial markets and pressure governments to act. 20
  6. Hello Objectivists, If you haven't heard yet, there is a very big Ponzi Scheme pyramid called MMM, http://i-mmm.com . It now has 20 million members (unverified). Unlike other Ponzi Schemes, this system doesn't have any product to sell, it sells itself as a sort-of bank. You deposit money, and get it out at 30% interest after a month, or three. There are different plans. Where does it get the money ? From advertising inself and getting more recruits. Its biggest users are the elderly people who were robbed of their pension in Russia and Former Soviet Union, and who are now able to have a d
  7. This is a cross post from here: https://bitcointalk....p?topic=75591.0 Reactions are all negative, as you can see in the thread. Some guy by nickname Variable said this: To which I have replied this: Anyways, I wasn't able to get through to them.
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