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BitCoin- is anyone here using them?

Has anyone here used BitCoins, or familiar with the system?

It's a secure digital currency that allows people to anonymously pay for goods and services. The "killer app" feature is that it cannot be counterfeited, and the number of BitCoins is limited by the code.

Since it makes it easy to do business without using Dollars or Yen or Euro (and therefore outside the control of the central banks) it is becoming a nuisance, and the government is trying to shut it down.


An increasing number of people have complained about governments and central banks in recent years, even using the word "tyranny" to describe them. They are, of course, called names in the establishment press: conspiracy theorists, mainly.

Calling someone a name, however, does not erase their argument (at least not among rational people) and both the governments and the big banks stand accused.

Up till now, however, these accusations were never accepted by the general public. The average guy really didn't want to hear about the evils of government money. After all, that was the only thing he had ever used to buy food, clothes, gasoline, cars, and so on. He didn't want to acknowledge the accusations because he feared what might happen to him without his usual money.

Now, however, we have a brand new currency (called Bitcoin) available to us: something radically different. This gives us a new way to directly address the subject of monetary tyranny, providing a clear test for the governments and money masters of the world:

If they are truly NOT tyrannical, they will leave this new currency alone.

If they ARE tyrannical, they will attack the new currency because it eats into their scam.

In other words, Bitcoin is a test for "the powers that be." The way they deal with this new method of exchange will reveal their true nature.

If they ignore Bitcoin, they refute the charges of tyranny. If they attack it, they verify those charges.

After all, what honest reason could there be to attack an inherently peaceful tool for transferring value?

by Anonymousreply 9206/20/2015

The only other place I've seen BitCoin mentioned was in the "deep web" thread that was going 6wks ago. Someone was explaining that street drugs could be easily and anonymously purchased from Silk Road and other sites on the torrents using BitCoin to pay for the transaction.

by Anonymousreply 905/07/2013

I guess I'm dense because I don't understand the problem. It all sounds like Paypal to me.

by Anonymousreply 1205/08/2013

Is our resident OCD Libertarian back, come to clusterbomb us yet again?

Tip: Walls of text cut and pasted with intent to overwhelm, not enlighten, are tedious.

by Anonymousreply 1505/08/2013

R15 is correct.

Only the smallest minds are swayed this way.

by Anonymousreply 1705/08/2013

[quote]Paypal is just a payment processing company. Bitcoin is an actual currency that is not dependent on governments to determine its value.

No, for a bitcoin to have value one must be able to readily exchange it for goods and services, and, like an ounce of gold or a bushel of wheat, that exchange is still finally calculated by comparing the value of a bitcoin to a dollar, a euro, a yen, whatever.

Unless you can covert it quickly and easily and for a known amount, that bitcoin is no different than the drawer full of old S&H Greenstamps my Grandmother is still sitting on.

by Anonymousreply 1805/08/2013

Bitcoin will fail miserably and the people who invested in it, Peter Thiel types, will be killed by people they've duped.

by Anonymousreply 2005/08/2013

Legal tender laws require that all good and services be convertible to national currency. There is a reason for that: it makes the market bigger for everyone.

by Anonymousreply 2305/08/2013


If you want to screw over the banks, use a credit union.

by Anonymousreply 2405/08/2013

[quote] When the NYTimes starts bashing you then know that it is scaring The Powers That Be.

And when WSJ is pretending to be aking a balanced look at it and comes out in favor of it, it's right wing/libertarian crap.

by Anonymousreply 2505/08/2013

R26, if Bitcoins cannot be printed by the Government, then who creates them?

Why is the Lord of the Bitcoin any more trustworthy than the Government?

by Anonymousreply 2805/08/2013

The OP is a developmentally stunted fucktard who has problems dealing with authority.

Bitcoin is a faux-Libertarian scam that will end up ripping off anyone dumb and paranoid enough to buy into it.

by Anonymousreply 2905/08/2013

You obviously have to pay a fee to buy the bit coins. I'm not paying money to buy some other form of money. Not in America

by Anonymousreply 3105/08/2013

Sounds like a giant pyramid scheme to me.

by Anonymousreply 3205/08/2013

how do you buy bitcoins?

by Anonymousreply 3505/08/2013

Seems to me the value is too easily manipulated by players in the market. Also, there is likely to be a speculative bubble over-valuing the "currency." People are going to get hurt. People are going to go to prison. Mark my words.

by Anonymousreply 3605/08/2013

It all has the whiff of . . . something . . . I can't quite put my finger on it . . .

by Anonymousreply 3705/08/2013

[quote]Bitcoin cannot be manipulated. The growth of BitCoins is governed by an algorithm that is open-source and any tampering would destroy the system.

It may not be manipulated by the issuer, but it already has been manipulated by the people who buy and sell the things. The was a sharp run up in value followed by a loss of 2/3rds of that value in a single day. Owning a thinly traded "commodity" in an unregulated market is basically saying "Fuck me," and not in a good way.

by Anonymousreply 3905/09/2013

So if BitCoin takes over it means all the money I'be saved and investments I've made, isn't worth shit right?

by Anonymousreply 4105/09/2013

It's a fad. Like Napster.

by Anonymousreply 4205/09/2013

I can't believe some people are so frightened of government manipulation by the Board of Governors of the Federal Reserve whose actions are public that they are willing to place themselves at the mercy of professional traders who secretly steal billions every day.

I'm not advocating for the government to intervene. I'm warning that little guys who wade into an unregulated market are fools and that people who are excited about bitcoin BECAUSE it is not regulated by the government are even bigger fools.

by Anonymousreply 4305/09/2013

As much as it pains me to agree with an American libertarian, I think BitCoin has some promise, although it's misleading to say it's immune to manipulation and interference. People are already trying to game the prices to their advantage. I do like the idea of being able to trade online in anonymity (my wife doesn't like seeing credit card charges for tentacle porn).

by Anonymousreply 4505/09/2013

[quote]Bitcoin is an actual currency that is not dependent on governments to determine its value. It's digital cash that can be used in any way the holder wishes.

This type of online currency has already been traded for years on War of Warcraft and Xbox 360.

by Anonymousreply 4605/09/2013

The Winklevoss twins are major shareholders.

by Anonymousreply 4705/09/2013

"the massive inflation we are seeing today"

Oh my side! Stop! Stop!

by Anonymousreply 4805/09/2013

It's basically an unregulated tech stock.

In 2013, Bitcoin's annualized volatility has been 105 percent. That's compared to 5.5 percent for the dollar and 8.5 percent for the euro.

by Anonymousreply 4905/09/2013

Bitcoin - the latest in a long line of hustles, preying on the paranoid and weak-minded.

Did that "Gold is the Only Safe Investment" scam dry up when the price dropped?

Whatever your personal problems, OP, I doubt that the DL is an appropriate place to troll for suckers. The stormfront and OCD Libertarian contingent is very small here.

by Anonymousreply 5005/09/2013

[quote]The difference is you cannot print BitCoins. All of the major powers- China, Japan, the EU and US- are "printing" currency to stabilize their bankrupt system. Bitcoins are created by "mining" and cannot be counterfeited. They, like anything else (gold, silver, dollars, diamonds, etc.) have no intrinsic value but since they are fungible, easily transferred and not subject to inflation they will retain value as long as the internet exists.

Remember Les Nessman and his private "office?" Complete with walls and a door only he could see? But everyone who visited him had to "knock," then turn the imaginary doorknob push the door open?

Or Les opened the "door" in response to the "knock." Thus everyone at work had to buy into the illusion/delusion, lest Les become a whiny little bitch.

Yeah. Bitcoin is like that.

by Anonymousreply 5105/09/2013

[quote]I would prefer a totally "unregulated" (aka a market controlled by market forces and not by good gray men that are high on their own hubris) to the current system that rewards the 0.1% at the expense of the bottom 99.9%

As I said, you are an idiot.

by Anonymousreply 5205/09/2013

[quote]When the hyperinflation hits BitCoin will be better than dollars, but not as good as gold and silver. If we can stave of the hyperinflation another 10 years, then BitCoin might be viable.

The same hyperinflation that you have been saying is imminent for the last 5 years yet has not showed up anywhere on earth? Hyperinflation is a right wing bogeyman used by hucksters to extract wealth from the easily confused.

If you don't recognize the signs of market manipulation is a chart like this, you deserve to be ripped off.

by Anonymousreply 5305/09/2013

Do rentboys take BitCoin?

by Anonymousreply 5505/09/2013

Anyone who doesn't comprehend the importance of regulation in a market-based economy is an idiot, R57.

by Anonymousreply 5905/11/2013

I find BitCoin interesting, but I don't fully understand what it is, other than a means of transacting financial transactions with using government backed currencies. I like what I have read, but I have more questions than knowledge. Unfortunately for me, I may not have all that much time to live (I'm in my 70's) for it to affect me.

If it beats the central banks, I"m for it.

by Anonymousreply 6005/11/2013

That's e thing, R60, it doesn't go after the banks; the premise is conflating the money supply with the business of managing money, and trying to infer that it is somehow the Federal Reserve's and by extension, the government's fault that we suffered an economic collapse not seen since the Great Depression. Which is, on its face, absurd. But leave it to the Pubbies to try and deflect responsibility in cover for their donors and benefactors. And a complicit executive doesn't help matters.

We know how to solve the problems. Introducing a currency backed only by the promise of a transactional marketplace is not among the ways to fix the economy. It's really very simple: reinstate Glass-Steagall, prosecute the financial crimes that lead up to the collapse, raise taxes to the rates in the 1950's, undertake a massive public works project like the Eisenhower interstate freeway system, and when the budget goes into surplus, pay off debt. You know, pretty much the opposite of what the government has been doing for the last 4.5 years.

Risking a dime in BitCoin does exactly what caused the financial collapse, speculating that the bubble will never burst. And when it does, I suppose the government will have to bail out holders of BitCoin, lest the artificial cap of 21 million coins isn't deemed too big to fail.

by Anonymousreply 6105/12/2013

Dwolla sent this message today to BitCoin account users. The government crackdown continues.

Posted at Reddit bitcoin:


As of 12:13 PM on 5/14/2013:

You’re receiving this notice because our systems have indicated that you’ve processed and completed a real-time Dwolla-to-Dwolla payment to Mutum Sigillum LLC (“Mt. Gox”) within the last 24 hours.

Due to recent court orders received from the Department of Homeland Security and U.S. District Court for the District of Maryland, Dwolla is no longer legally able to service Mutum Sigillum LLC’s account.

This is a courtesy email encouraging you to follow up on any uncompleted orders with Mutum Sigillum LLC as Dwolla is now unable to move money to and from Mutum Sigillum LLC’s Dwolla account.

Dwolla is not party to this matter nor does it have any information or further insight into the situation. We strongly encourages those with questions to contact Mutum Sigillum LLC Note: Dwolla requires a court order before honoring requests such as seizing funds or revoking access to an account.

On behalf of Dwolla, we apologize for this inconvenience.

by Anonymousreply 6205/14/2013

People on Cam4 are asking to be tipped in BitCoins. You know it's legit now.

by Anonymousreply 6305/16/2013

[quote]The big difference is that BitCoins cannot be printed by the government, and therefore are not subject to the massive inflation we are seeing today.

LOL... Still on that "massive inflation" kick, are you? Meanwhile, out here in the real world, that "massive inflation" you've been complaining about for the past several years still hasn't materialized.

[quote]Bitcoin cannot be manipulated.

ROFL.... Oh my... what can you say in the face of such blind ignorance?

[quote]What do you dislike about libertarianism?

Aside from its manifest stupidity?

[quote]You seem smart enough to know what it is, and you must understand that it is internally consistent (unlike other political systems) so please enlighten us.

Dear heart, *every* political system insists that it's "internally consistent." Libertarianism is no more "consistent" than any other philosophy, nor are its devotees, including your personal hero (and blatant hypocrite), Ron Paul.

As for the thread topic, R61 nails it. Tell us again how gold is going to climb to ten times its current value, won't you?

by Anonymousreply 6405/17/2013

Bitcoins will come in very handy to stuff into the leaks on the floating libertarianoid island nations. Virtually speaking.

by Anonymousreply 6505/17/2013

Did anyone see Morgan Spurlock and his CNN show this week? He did a show about bitcoin, how to get it, pro's/con's and trying to use it at various places in NY.

by Anonymousreply 6602/21/2015

Weird. I saw my first real world bit coin machine tonight. Are they called ATMs?

by Anonymousreply 6702/21/2015

You know who gets paid in bitcoin? Lindsey Lohan, when she sells her ass.

Nice company you keep, Idiot Libertarian Spam Troll.

by Anonymousreply 6802/21/2015

Bitcoin will save Greece!!

by Anonymousreply 7002/21/2015

There is no need to take down bitcoin. Let these morons lose their money, maybe then the ILST will stop spamming us every day and night.

by Anonymousreply 7102/21/2015

A neocon in-law's druggy son is obsessed with bitcoin. Drugs and libertarianism go hand in hand. A libertarian is a conservative who does drugs, so there you go. Bitcoin = purchasing drugs on the Internet by libertarians.

by Anonymousreply 7202/21/2015

r66 I saw the special. I really wanted to understand, but I think the show failed to take the concept and use from A to Z.

The huge Japanese Bit Coin crash could not be explained either. Poof, over a billion dollars of bitcoins gone?

I'm intrigued but I need to learn a great deal more.

by Anonymousreply 7302/21/2015

Bitcoin bump. Since another poster was asking about it.

by Anonymousreply 7406/19/2015

It's hilarious reading the idiotic comments from our resident ILT, since so much of what he wrote a couple of years ago has been shown to be conclusively false. I really loved this one: "Bitcoin cannot be manipulated." Duh ... of course it can, and has been.

And I love even more that our resident ILT still doesn't understand the concept of "money," particularly that no matter what "currency" you choose, its value is only what someone else will give you for it, whether that "currency" is Bitcoin, dollars, euros, or gold.

by Anonymousreply 7506/19/2015

Yeah, that Bitcoin has really taken off.

by Anonymousreply 7606/19/2015

The last I heard of Bitcoin was that some unemployed Japanese American guy in the San Gabriel Valley was behind it. They showed him on the news denying everything and looking like he was sleeping in his Mom's basement (which I think he was.)

It could have been a media ruse, though.

by Anonymousreply 7706/19/2015

Anyone who buys bitcoins has a screw loose.

by Anonymousreply 7806/19/2015

If I heard of someone I knew using BitCoins, I would assume he or she was a paranoid freak, or up to something illegal.

by Anonymousreply 7906/19/2015

DL is still waiting for the "bitchcoin"

by Anonymousreply 8006/19/2015

[quote]If I heard of someone I knew using BitCoins, I would assume he or she was a paranoid freak, or up to something illegal.

I'd think the person is technologically advanced and adventurous, and probably has extra money to put it in bitcoin. I haven't looked that deep into bitcoins but I see them quite unsafe still. Their value goes up and down.

by Anonymousreply 8106/20/2015

It's the only form of payment I accept.

by Anonymousreply 8206/20/2015

I pay my rent and most of my groceries with bitcoin.

by Anonymousreply 8306/20/2015

You can only buy it on the torrent web. You can't walk into BOA and buy it with US$.

by Anonymousreply 8406/20/2015

What property management company or grocery store takes bitcoin?

by Anonymousreply 8506/20/2015

Oh, r81, so you agree?

by Anonymousreply 8606/20/2015

R81 used to be famous here.

by Anonymousreply 8706/20/2015

R87, what are you on about?

R86, like I said when I hear someone using bitcoins I think the person is technologically adept but also a bit adventurous, not that the person is criminal or a tinhat. Criminals do use them, though, but I don't think someone is criminal for using them. Bitcoins are getting more common all the time though so not sure you have to be that adventurous anymore, at least if you're not putting all your savings into it.

by Anonymousreply 8806/20/2015

Bitcoins are for crooks, thieves, drug dealers, hookers, terrorists and dumb, paranoid assholes.

When Bitcoins crash and lose their value again - and they will - all those people will get exactly what they deserve.

by Anonymousreply 8906/20/2015

[quote]It's the only form of payment I accept.

It's bitcoin, not bitchcoin.

by Anonymousreply 9006/20/2015

not too sure of the details but someone who had some bitcoins on him got robbed or killed not sure, it was on the news, he was targeted because of bitcoin. google it.

by Anonymousreply 9106/20/2015

R83, that seems highly unlikely. CNN did a show about this and could barely find even a coffee shop in NYC that would accept Bitcoin. Maybe you meant you would like to use Bitcoin for rent and groceries, otherwise, you're lying.

by Anonymousreply 9206/20/2015
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