Main Area and Open Discussion > Living Room
Does anyone here use Bitcoins?
Renegade:
Understood. I would like to thank you for being a gracious host. I feel that I must bid you goodbye. Please know that all my best wishes are with you.
mouser:
There's no reason to have to leave, I'd like you to stay. I just request that anyone who wants to discuss how much money they are making off the (fill in the blank) market, or suggestions for what to invest in, post in the basement or on a different forum.
I pass no judgement on any particular currency or market or investment strategy -- to be honest they all seem like legalized gambling and scams to me -- including the US stock market, etc. But that's besides the point. If you want to invest in such things go for it, I just don't think we want this forum to be a place for discussing how to make money in the markets.
wraith808:
I didn't read his posts as telling people what to invest in or where to invest, or even to invest. More of as a cackling statement of glee of his success. And I felt good for him, and feel that it's not a bad thing to celebrate success among our members (while of course kicking myself that I didn't do the same).
IainB:
I would really like this forum to avoid anything related to discussing investing or making money on markets -- it's just not the place for it.
It's one thing for us to discuss the concept of something like bitcoins -- but when we start showing charts and talking about making money and when to buy and sell, etc.. that has no place here.
-mouser (April 07, 2013, 09:24 AM)
--- End quote ---
Yes, and there seem to be plenty of alternative forums to engage in or discuss these things.
However, because of its digital nature, it would seem to be relevant to discuss Bitcoins in the DC Forum, but not necessarily in the manner it predominately seems to be being discussed at present.
It is worth discussing because: To a student of economic theory and practice, Bitcoin is something that seems to break theory by peacefully offering a new, artificial, common, potentially safe and unregulated/uncontrolled (by any government) alternative to any and all national currency, and thereby potentially enabling the consumer to avoid the use of the banking system.
The potential implications are tremendous, apparently including, for example, transformation of the global money supply and associated inter-bank Forex and payments/settlements systems, greater freedom from taxation (forced State theft) and from compulsory/proprietary usury by the banks. Bitcoin would seem to have the potential to defeat the system of fractional reserve banking, which is a major means by which governments effect their State control over the voters.
For speculators to focus on the profits to be made from gambling in arbitrage trading, as a new market develops, would be a natural thing for any emerging market, and will generally assist in its development and stability - Bitcoin would presumably be no exception to that. However, there is some irony in that, where the trade profits are being measured in a State's currency, the new thing is being measured in terms of the old which it could eventually render obsolete. Bitcoins could potentially become the new Gold Standard and the major/only global currency, where the thing being traded (Bitcoin money) is the standard - a modern digital form of gold coins.
There are other forums on the Internet specifically set up for discussing and learning about mining and dealing/trading in the supply of Bitcoins - a good start might be, for example, the Bitcoin Forum - http://bitcointalk.org
IainB:
Understood. I would like to thank you for being a gracious host. I feel that I must bid you goodbye. Please know that all my best wishes are with you.
-Renegade (April 07, 2013, 11:16 AM)
--- End quote ---
We cannot control events that affect us, but we can control our response to them.
In New Zealand, that kind of response would probably be termed "spitting the dummy". ;)
Chillax @Renegade.
Navigation
[0] Message Index
[#] Next page
[*] Previous page
Go to full version