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Anyone Using Bitcoins Yet?
40hz:
To be honest, I think that if it does attract mainstream attention/use, it will mysteriously experience problems and get shut down.
-Renegade (June 24, 2011, 02:59 AM)
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You've already got a few US politicos screaming for legal action against it. Are we surprised? ;D
On a more serious note ;) currencies are only as good as what backs them - unless they're made out of some precious metal. If I'm going to accept a currency, I'd want it to be just like the dollar or the euro where there's the promise from the issuers they will tax their people unto the twentieth generation to make good on what it represents. And who furthermore promise to unleash the full fury of their satellite directed night-vision equipped high-tech military forces on anybody who dares say otherwise. (Including their own people.) :'(
Deozaan:
We just need to get back to the gold standard. I wouldn't mind the dollar being worth an ounce of gold right now. If I understand it correctly, 1 ounce of gold is currently worth about $1,500.
If each dollar bill had the buying power of $1,500 then I would be a very wealthy person, even though I've only got about 40 dollar bills in my wallet right now.
40hz:
We just need to get back to the gold standard.
-Deozaan (June 24, 2011, 03:34 PM)
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Don't hold your breath waiting for that to happen. The whole deficit spending program most governments function under would come to a screeching halt if they actually had to base the rubber checks they were writing to themselves on something that existed in the real world.
Which is unfortunate. Because they have a bear by the tail with that one. The current economic situation can't go on indefinitely without a crash. And if they try to reform it, it will provoke a an even more rapid crash.
Small wonder so many politicians throw the problem as far into the future as they possibly can and then hope they'll be dead before the day of reckoning arrives.
Shades:
I find it "funny" that maximum limit of debt the US is allowed to make, has to be stretched further...which is first to be handled by their own government and has to have the backing of the IMF as well (as far as I understand).
Guess what, the bossman of the IMF has been caught with his pants down.
Starts to become too coincidental, if you ask me.
wraith808:
We just need to get back to the gold standard.
-Deozaan (June 24, 2011, 03:34 PM)
--- End quote ---
Don't hold your breath waiting for that to happen. The whole deficit spending program most governments function under would come to a screeching halt if they actually had to base the rubber checks they were writing to themselves on something that existed in the real world.
Which is unfortunate. Because they have a bear by the tail with that one. The current economic situation can't go on indefinitely without a crash. And if they try to reform it, it will provoke a an even more rapid crash.
Small wonder so many politicians throw the problem as far into the future as they possibly can and then hope they'll be dead before the day of reckoning arrives.
-40hz (June 24, 2011, 03:43 PM)
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I don't agree with every(most- even)thing that has been done financially, but this I will say... getting off the gold standard was the best thing that has been done in concept, and going back to it is pretty much a no-go, even talking fiscal responsibility. Basing your economy on a limited resource limits your economic growth.
An article on why we shouldn't go to the Gold standard, and an alternative standard to replace the USD.
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