Topic: Bitcoin - The one and only? (Read 1124 times)

As they should, it gives us teeth we never had before to basically start our own system and exclude THEM for a change.

Dangerous? No, a centrally controlled currency under the care of power drunk sociopaths and money backed on nothing is dangerous.

The European Central Bank at least made a plain statement about virtual schemes

A non regulated virtual money is "dangerous" for its users (and oddly put, "for the central banks "reputation"). They see it as a competitor, not as a solution!

These currencies will never fail, governments will always find away to save them through printing more money or taxing the voter

That makes a certain amount of since.

Sorry for the late reply; I got my 2 7970s in the mail. Too bad my band-new new dedicated miner isn't booting...

Anything like that would ultimately be proprietary and under Gov control. Bitcoin is unique as it not only is designed to operate with no central authority, but it is completely open to public view as well. Anyone has the power to start their own currency with these open source tools, circumventing any "OneCoin" the government could create. Anything the government would do to stop it would be met with serious opposition, and much like the way Gov controls never stopped Bittorrent at all after spending millions, Bitcoin can't be stopped either without the Gov becoming North Korea in containing the Internet into a national Intranet, risking sparking a massive uprising. Last time someone even pointed a major, vague, and draconian legislation at the Internet, the response from Google and the tech industry was pretty much "do it an we'll shut this shit down ourselves". I think the Gov is assuming Bitcoin is a novelty and not paying much attention to it, for now. Remember, their Tech Czar or whatever in past has used phrases like "the internet is a series of tubes"...they have less than a clue about what this is or what it could become before it is too late.

I just hope it happens fast enough to where the Billionairs don't realize it and get stuck with Billions of dollars of effectively worthless currency, while the rest of us riding our BTC horse to freedom laugh all the way to the banks that no longer exist, because WE said so.

Most moden economist won't accept a deflationary currency. They believe that inflation is necessary to stimulate investing and thus the economy. The governemtns won't go for it because they can't control it.

Bitcoin is not fiat, and the US current economic policies require that they be able to manipulate the money supply. 

It is possible to create a cryptocurrency and still control the supply, but this would not be bitcoin. 

Is this because they're stubborn? They don't trust things they don't understand? (which would explain the poor Internet policies/enforcement here in the US)
Maybe they don't think the public will understand? and it'll just be a frenzy?

Governments will collapse before accepting bitcoin

I've been reading about the various economic states in various countries around the world, and though I'm still rather ignorant on the subject, it seems like numerous countries will be left with a failed currency (US, Japan, Cyprus, etc).

Do we think these countries will accept Bitcoins as the new standard? Perhaps they'll offer tangible assets (gold, silver, land) for Bitcoins and use these to start jobs/encourage small business/etc?
Perhaps the governments will just fail and be too dumb to recover?

Just something I've been wondering economically-ignorant mind.

Edit: I left out the word "failed" the first time.