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  #21  
Old 04-11-2013, 06:10 PM
casúr casúr is offline
 
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Originally Posted by How bad boy View Post
This is not a graph of a stable commodity:


Risky as fuck. But it could well keep going, and the recent crash and re-emergence could be an insignificant blip in a few years time...
3 or 4 weeks ago they were at €95

Before Silk Road went wallop they were at about €200, then they went down to about 80 or so but since Silk Road went down they have been making an extraordinary comeback. With Silky out of the way people will feel easier about investing, the only problem is what happens when Silk Road 2 comes along?
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  #22  
Old 04-11-2013, 06:20 PM
INFERNO INFERNO is offline
 
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Originally Posted by The Curious Lozenge View Post
they'll disintegrate soon.
I seriously doubt it. It probably will come down a bit though.

More versions of it will come online soon.

More & more online stores are accepting them, and even real life stores.

Currency that central banks can't fiddle with are going to be big in the future.
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  #23  
Old 04-11-2013, 06:30 PM
The Curious Lozenge The Curious Lozenge is offline
 
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can he actually exchange them for dollars though?
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When did Italy become a Latin country?
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it's about time they made this similar to the 7s and broth in a bowl, plate, shield to give teams more gams.
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  #24  
Old 04-11-2013, 06:31 PM
The Curious Lozenge The Curious Lozenge is offline
 
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Originally Posted by INFERNO View Post
I seriously doubt it. It probably will come down a bit though.

More versions of it will come online soon.

More & more online stores are accepting them, and even real life stores.

Currency that central banks can't fiddle with are going to be big in the future.
that comment was in relation to the old five euro notes, which are made of poor material.
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When did Italy become a Latin country?
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it's about time they made this similar to the 7s and broth in a bowl, plate, shield to give teams more gams.
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  #25  
Old 04-11-2013, 06:32 PM
How bad boy How bad boy is offline
 
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Originally Posted by INFERNO View Post
I seriously doubt it. It probably will come down a bit though.

More versions of it will come online soon.

More & more online stores are accepting them, and even real life stores.

Currency that central banks can't fiddle with are going to be big in the future.
Wouldn't be too sure about that. Governments get very protective of currencies...
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  #26  
Old 04-11-2013, 06:34 PM
INFERNO INFERNO is offline
 
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Originally Posted by The Curious Lozenge View Post
that comment was in relation to the old five euro notes, which are made of poor material.
oh, righteo
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  #27  
Old 04-11-2013, 06:35 PM
INFERNO INFERNO is offline
 
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Wouldn't be too sure about that. Governments get very protective of currencies...
They have fucked up currencies more like.

Bitcoin is a direct response to their carry on.

I fail to see how they'll stop peer to peer anything tbh.
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  #28  
Old 04-11-2013, 06:54 PM
How bad boy How bad boy is offline
 
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Originally Posted by INFERNO View Post
They have fucked up currencies more like.

Bitcoin is a direct response to their carry on.

I fail to see how they'll stop peer to peer anything tbh.
Such systems need, due to their nature, large central points, which are vulnerable to real world interference.

It was very easy for the US government to starve wikileaks, for example. The connection to traditional banks is one point at which governments could shut their use down with relative ease.

FIAT currencies are going nowhere.
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  #29  
Old 04-11-2013, 07:19 PM
CaptainSensible CaptainSensible is offline
 
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Originally Posted by INFERNO View Post
They have fucked up currencies more like.

Bitcoin is a direct response to their carry on.

I fail to see how they'll stop peer to peer anything tbh.
Consider this scenario, if bitcoin is a success then this will lead to competing on line currencies. And hypothetically then we will have the same system that currently exists with fiat currencies being replaced by digital currencies. But at least with the fiat system economic performance still matters and gives you a barometer to the direction of a currency. How do you value the relative merits or demerits of one digital currency over another. People like to have an explanation as to why they either made or lost money, merely giving them an answer of more demand than supply or vice versa will not cut it. I could be wrong but I think without being able to place a value on them will lead people to abandon the markets as quickly as they entered.350 years ago you could buy a tulip in Holland for 50k now you'll get one for roughly 50 cents !! Having said all that if bitcoin is in the throes of a bubble the price could go far higher before it's ultimate demise.
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  #30  
Old 04-11-2013, 08:09 PM
How bad boy How bad boy is offline
 
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Consider this scenario, if bitcoin is a success then this will lead to competing on line currencies. And hypothetically then we will have the same system that currently exists with fiat currencies being replaced by digital currencies. But at least with the fiat system economic performance still matters and gives you a barometer to the direction of a currency. How do you value the relative merits or demerits of one digital currency over another. People like to have an explanation as to why they either made or lost money, merely giving them an answer of more demand than supply or vice versa will not cut it. I could be wrong but I think without being able to place a value on them will lead people to abandon the markets as quickly as they entered.350 years ago you could buy a tulip in Holland for 50k now you'll get one for roughly 50 cents !! Having said all that if bitcoin is in the throes of a bubble the price could go far higher before it's ultimate demise.
Exactly.
We have half a dozen digital currencies.

In a few years time, no doubt we'll have a few hundred, 90% of which will be fraudulent.

Is it pyrite, or is it gold?


I see it as a complement to currency. As is gold, silver, and many, many other commodities. It's more liquid in some ways than other currencies, i.e. easier to spend directly. Bitcoin, as it's the No.1 digital currency right now, could well become one of a few champions of online distributed currencies.

But I see it as a function of these times. It is not easier to pay for stuff online with dollars, as the exchange rate kinda fucks with things. Bitcoins have the same drawback. They're not easier to use, so I don't see them replacing currencies for most online transactions. But for some, especially when buying from abroad, I can definitely see them being massively useful.

There is the risk of bitcoins becoming the Esperanto of the online world.
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