Do you agree with this? USD, Not Bitcoin, Is The Next Digital Currency

MegaHustlr

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Vote 4fryn :)

Quote from: Robert Paulson on April 27, 2014, 08:48:33 AM

the $100 bill's purchasing power is diluted every second of every day at the discretion of a group of privately owned banks.
by using their monopoly on money creation they siphon away purchasing power from the working population to themselves.
https://www.youtube.com/watch?v=iFDe5kUUyT0 best explanation on youtube as to how this works.
bitcoin is controlled by no one and created by a predefined algorithm.

That is one of the most compelling reasons to use bitcoins, no loss of value until now. Sad

zolace

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Activity: 364

Merit: 250

Bitcoin has its own space in the market. It doesn't need to compete with the dollar.

keithers

legendary

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This is the land of wolves now & you're not a wolf

Quote from: ebliever on April 28, 2014, 11:46:59 AM

Hey guys! I got this great idea for a new Altcoin I'm going to release! Here are the details:

Name: US Dollar
Supply: TBD; will be decided by a group we'll call the "Fed". No, it won't be answerable to you. No, there is no cap. What could go wrong?
Note: We don't actually have the blockchain locked down to prevent double-spending (counterfeiting). We know it's a problem, and we are working on it.
Confirmation Time: Expect a couple of days for most transfers. Please give it up a week before bothering your exchange admins.
Note: You may want to invest in training to detect forgeries.
Transfer Cost: Will range from $10-25 or more depending on institution, there is no standard in the blockchain.
Note: Physical transfers will also be available! (We do recommend washing of hands after handling of physical "Dollars" to prevent spread of disease.)

We expect this Altcoin to be a MAJOR success! With features like these, how can it fail???

There isn't much that can go wrong...looks like you have just saved the world's economy.

ebliever

legendary

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Hey guys! I got this great idea for a new Altcoin I'm going to release! Here are the details:

Name: US Dollar
Supply: TBD; will be decided by a group we'll call the "Fed". No, it won't be answerable to you. No, there is no cap. What could go wrong?
Note: We don't actually have the blockchain locked down to prevent double-spending (counterfeiting). We know it's a problem, and we are working on it.
Confirmation Time: Expect a couple of days for most transfers. Please give it up a week before bothering your exchange admins.
Note: You may want to invest in training to detect forgeries.
Transfer Cost: Will range from $10-25 or more depending on institution, there is no standard in the blockchain.
Note: Physical transfers will also be available! (We do recommend washing of hands after handling of physical "Dollars" to prevent spread of disease.)

We expect this Altcoin to be a MAJOR success! With features like these, how can it fail???

noviapriani

sr. member

Activity: 350

Merit: 250

“The future of money will really be on finding ways to transact in a
lower-cost way, and that’s a societal trend, not just bitcoin.” Except that Bitcoin is already a way to transact in a lower-cost way and has been for five years now. Societal trends need the technology first, and approximately five years later.. the masses go 'Oh'

LAMarcellus

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Quote from: Beliathon on April 27, 2014, 10:07:04 AM

Quote from: LAMarcellus on April 27, 2014, 09:51:41 AM

BEWARE PAPER BACKED BY BITCOIN!!! Bitcoin is money as gold is money. Currency always starts with money backing, then the paper currency politically loses the backing, for the kids or to stop terrorism or some other BS, and then we're fucked all over again with tyranny. Tyranny goes hand in hand with corrupting, insidious banks and their fractional reserve fraud!

I feel it's important to note here the distinction between a bank-note, which is an "I owe you" from some central organization - and a paper wallet, which is actual money on the blockchain.

Good catch! Grin

Yes Bank Notes are evil incarnate. Paper wallets to back up your bitcoins are awesome and required!

But as to my warning.

We may see a bait and switch type tactics. Where Bitcoins are declared legal. Then within 10 years time, new legal tender laws are being written and passed "to protect consumers". These laws will allow "banks" to issue paper notes backed by bitcoin. People just keep losing their coins and paper currency backed by bitcoin will allow us to make them whole, and allow wise phDs to direct the conomy and BS BS BS. Next thing you knew bitcoin has been relegated to the monetary dustbin like gold. Meanwhile we are all enslaved by it's substitute, inked toilet paper and its infinite clones, now with Satoshis face instead of Georges. Same old Same old if we don't learn.

BEWARE BANK NOTES BACKED BY BITCOIN! Fractional Reserve lending will rear its ugly head any time a paper note is substituted for the real thing, and circulated as if it's the real thing.

*I AM NOT DISCUSSING PAPER WALLETS HERE, PLEASE BACK UP YOUR BITCOINS ONTO A PAPER WALLET IN ADDITION TO WHATEVER OTHER METHOD YOU USE*

poordeveloper

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₿₿₿₿₿₿₿

Quote from: Pente on April 27, 2014, 01:58:47 PM

Quote from: Bit_Happy on April 27, 2014, 01:34:05 PM

Electronic USD (through Google, Paypal and Facebook) will be tough competition for BTC.
We have the advantage of a limited supply, and that is a really big deal.

As soon as they make a frictionless way to send USD over the internet, it will be added to the cryptocurrency exchanges like cryptsy.com resulting in just an easier way to switch back and forth between currencies quickly. The USD will stop have the problem of an unlimited supply of them.

This will only help Bitcoin.

Or it will be regulated and prevented to be used in those kind of sites.

CurbsideProphet

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Quote from: kelsey on April 27, 2014, 09:14:44 AM

maybe not USD but fiat is better then Bitcoin.

Lets be honest most Bitcoin holders are in it for the fiat, everyone talks about BTC's 'value' based on its price in USD and not its value as a currency. now its hit over $1000 (in the past), people sat up and listened not whne u could buy a coffee with it.

Bitcoin doesn't allow micro-transactions, Fiat no problem. Fees with Bitcoin even if I am sending to another of my own wallets, Not with Fiat.

People will say but electronically the banks charge, well I don't what bank your using but I've had fee free banking for many years.

Fiats even more fairer distribution.

Bitcoin (due to its non inflationary design) maybe a better store of wealth longterm then fiat, which is it only real benefit, but thats more as a commodity then a currency (and depending on ur buyin point its risky).

Bitcoin doesn' allow micro-transactions? How so?

Siegfried

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Merit: 250

Quote from: Pente on April 27, 2014, 01:58:47 PM

Quote from: Bit_Happy on April 27, 2014, 01:34:05 PM

Electronic USD (through Google, Paypal and Facebook) will be tough competition for BTC.
We have the advantage of a limited supply, and that is a really big deal.

As soon as they make a frictionless way to send USD over the internet, it will be added to the cryptocurrency exchanges like cryptsy.com resulting in just an easier way to switch back and forth between currencies quickly. The USD will stop have the problem of an unlimited supply of them.

This will only help Bitcoin.

Interesting.

TheMage

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Litecoin Association Director

Quote from: Beliathon on April 27, 2014, 10:21:48 AM

Quote from: leopard2 on April 27, 2014, 10:09:11 AM

Look mate if you need a real micro transaction just use DOGE

Please read: http://trilema.com/2014/why-dogecoin-is-a-scam-why-the-people-pushing-it-are-assholes-why-business-insider-is-a-contemptible-piece-of-shit-why-anyone-who-ever-worked-for-it-will-be-dancing-in-the-street-for-nickels-and-wh/

So let me get this straight, someone posts an article of so called "experts" (which we all obviously disagree with, well most of us), and most people here are defending BTC from it, yet you decide to post an article doing the same exact stuff these experts did to BTC to another crypto?

Dude, the irony is so thick I can cut it with a knife.

keithers

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This is the land of wolves now & you're not a wolf

Quote from: leopard2 on April 27, 2014, 07:04:59 PM

Quote from: Beliathon on April 27, 2014, 10:21:48 AM

Quote from: leopard2 on April 27, 2014, 10:09:11 AM

Look mate if you need a real micro transaction just use DOGE

Please read: http://trilema.com/2014/why-dogecoin-is-a-scam-why-the-people-pushing-it-are-assholes-why-business-insider-is-a-contemptible-piece-of-shit-why-anyone-who-ever-worked-for-it-will-be-dancing-in-the-street-for-nickels-and-wh/

Then use LTC or any other blockchain for the microtransactions. I was just saying that the inability of sending dust transactions with BTC blockchain is not an issue at all.

I use LTc for that too. The faster confirmation times are amazing. I basically use BTC almost like a savings account that I deposit more money into when prices come down

leopard2

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Quote from: Beliathon on April 27, 2014, 10:21:48 AM

Quote from: leopard2 on April 27, 2014, 10:09:11 AM

Look mate if you need a real micro transaction just use DOGE

Please read: http://trilema.com/2014/why-dogecoin-is-a-scam-why-the-people-pushing-it-are-assholes-why-business-insider-is-a-contemptible-piece-of-shit-why-anyone-who-ever-worked-for-it-will-be-dancing-in-the-street-for-nickels-and-wh/

Then use LTC or any other blockchain for the microtransactions. I was just saying that the inability of sending dust transactions with BTC blockchain is not an issue at all.

acs267

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Quote from: CryptoPanda on April 27, 2014, 02:00:28 PM

I read it, thought to myself those guys are f**** delusional.

I know right? If they want USD to go digital, that means you're going to need a computer and Internet. Though they bashed Bitcoin because you need a computer and the Internet?

Quote from: keithers on April 27, 2014, 06:32:12 PM

I wish USD had some bills higher than $100. Maybe a $500 bill, I think $1000 may be too high. We also need to get rid of pennies. I throw those away. Seriously.

ZWD! Here we come, guys!

keithers

legendary

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This is the land of wolves now & you're not a wolf

I wish USD had some bills higher than $100. Maybe a $500 bill, I think $1000 may be too high. We also need to get rid of pennies. I throw those away. Seriously.

CryptoPanda

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I read it, thought to myself those guys are f**** delusional.

Pente

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Quote from: Bit_Happy on April 27, 2014, 01:34:05 PM

Electronic USD (through Google, Paypal and Facebook) will be tough competition for BTC.
We have the advantage of a limited supply, and that is a really big deal.

As soon as they make a frictionless way to send USD over the internet, it will be added to the cryptocurrency exchanges like cryptsy.com resulting in just an easier way to switch back and forth between currencies quickly. The USD will still have the problem of an unlimited supply of them though.

This will only help Bitcoin.

Bit_Happy

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A Great Time to Start Something!

Electronic USD (through Google, Paypal and Facebook) will be tough competition for BTC.
We have the advantage of a limited supply, and that is a really big deal.

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

Quote from: acs267 on April 27, 2014, 10:53:07 AM

Quote from: keithers on April 27, 2014, 10:45:12 AM

Disagree because all of the problems that the gov't is trying to say BTC poses i.e money laundering, purchasing of illicit good, anonimity...they are all safe havens with cash.

USD is the dirtiest currency out there. Money laundering, murder, drugs, bootleg, suicide, rape, etc. There's so many nasty things out there. I don't think Bitcoin goes that far. But the Government doesn't mention that.

Quote from: Beliathon on April 27, 2014, 10:21:48 AM

Quote from: leopard2 on April 27, 2014, 10:09:11 AM

Look mate if you need a real micro transaction just use DOGE

Please read: http://trilema.com/2014/why-dogecoin-is-a-scam-why-the-people-pushing-it-are-assholes-why-business-insider-is-a-contemptible-piece-of-shit-why-anyone-who-ever-worked-for-it-will-be-dancing-in-the-street-for-nickels-and-wh/

I don't get why so many people take Doge so seriously. It was a joke. A joke that changed into a crypto - but it's still a joke. If it's a scam, then whippee. It's still a joke.

The US gov't could say monopoly money was the future of US currency and there would be millions of sheep who follow

MarketNeutral

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Is the USD capped at 21 million? lol.

sana8410

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Here they start again with their idiots experts!Why are the so afraid of bitcoin?If the US Dollar is the Future Digital Currency why they give so much importance to bitcoin?Accepting bitcoin costs zero fee. Accepting bitcoin and having some 3rd party converting it to USD, yes, that'll cost about 1% fee (actually it's more like 0.5% nowadays). Still way less than paypal, visa, mastercard, etc which (unlike Bitcoin) all come with huge risks, limitations and dependencies.

Topic: Do you agree with this? USD, Not Bitcoin, Is The Next Digital Currency (Read 2121 times)