-MarkM- (Want a unit of galactic marines built? Only 80 production points, get your bids in now!
)(Most of their discussions on it are about for whom they are willing to build what, exactly...)
Topic: Just found bitcoin today....matches my search for New ideal form of money (Read 1579 times)
May 27, 2011, 06:34:30 PM
Oh cool, sounds like WebSurfinMurf might like the plan some Freeciv Galactic Milieu nations are considering for at least a start toward "backing" their currencies then, as the plan is to auction off each year some number of the production-points of some of their cities. Thus basically offering production "work" in return for some as yet to be determined by bidders number of units of their digital currency.
-MarkM- (Want a unit of galactic marines built? Only 80 production points, get your bids in now!)
(Most of their discussions on it are about for whom they are willing to build what, exactly...)
-MarkM- (Want a unit of galactic marines built? Only 80 production points, get your bids in now!
)(Most of their discussions on it are about for whom they are willing to build what, exactly...)
May 27, 2011, 03:19:56 PM
Keynsian theory is founded on the idea of money as debt!...the exact opposite of what Web is saying.
Quote from: WebSurfinMurf
Currently, there is two views of money, Fiat and gold based.
For sake of argument, there is no difference between a US dollar and “credit”. Both represent the same thing, a debt owed for work done.
The problem with Gold is, it doesn’t represent work done and a debt owed. It represents a physical material that it has value as a material.
The whole idea of gold as money outrages me that people cannot think of money in its purest form. It is suppose to be a guaranteed bond, akin to signing a contract, which work performed can be used to get work in return.
The problem comes in that individuals, companies, states, or governments would rather just make new money than create work to back the new debt created. This perversion of not having money represent work done and work owed is what we are witnessing by the actions of the Federal Reserve Bank. Ben Bernanke, in effect, is trying to show the world, that US does not have to honor repayment with new work, it can repay with sleight of hand and new paper IOU that will never get repaid with work.
For sake of argument, there is no difference between a US dollar and “credit”. Both represent the same thing, a debt owed for work done.
The problem with Gold is, it doesn’t represent work done and a debt owed. It represents a physical material that it has value as a material.
The whole idea of gold as money outrages me that people cannot think of money in its purest form. It is suppose to be a guaranteed bond, akin to signing a contract, which work performed can be used to get work in return.
The problem comes in that individuals, companies, states, or governments would rather just make new money than create work to back the new debt created. This perversion of not having money represent work done and work owed is what we are witnessing by the actions of the Federal Reserve Bank. Ben Bernanke, in effect, is trying to show the world, that US does not have to honor repayment with new work, it can repay with sleight of hand and new paper IOU that will never get repaid with work.
May 27, 2011, 07:44:06 AM
Web, I'd ignore Benjamin, he sounds like a troll, albeit with 300 posts.
"This looks like typical Keynesian claptrap and the idea of "money as debt" is fundamentally flawed ..."
This has to be one of the most stupid oxymoronic statemenets if seen in a long time. Keynsian theory is founded on the idea of money as debt!...the exact opposite of what Web is saying.
"This looks like typical Keynesian claptrap and the idea of "money as debt" is fundamentally flawed ..."
This has to be one of the most stupid oxymoronic statemenets if seen in a long time. Keynsian theory is founded on the idea of money as debt!...the exact opposite of what Web is saying.
May 26, 2011, 10:27:48 PM
Thanks everyone, I am looking forward to fully understanding the mechanics of BitCoins.
I can see already there are issues, from the little reading I have done.
But the Peer to Peer aspect is brilliant, something I never thought of.
benjamindees, Keynesian? how the heck did you read my post and think Keynesian? I offended!
While I do not believe gold is money, I do subscribe mostly to Austrian.
But at some point even they are not 100% correct, mainly due to the era it was written.
A new path of money must be found, and it must be decentralized, it must be owned by the people.
It will be the ultimate freedom for the masses.
I can see already there are issues, from the little reading I have done.
But the Peer to Peer aspect is brilliant, something I never thought of.
benjamindees, Keynesian? how the heck did you read my post and think Keynesian? I offended!
While I do not believe gold is money, I do subscribe mostly to Austrian.
But at some point even they are not 100% correct, mainly due to the era it was written.
A new path of money must be found, and it must be decentralized, it must be owned by the people.
It will be the ultimate freedom for the masses.
May 25, 2011, 09:06:48 AM
Have fun with BTC but make sure you really understand it. The concept is awesome. In practice, however, there are issues. It is in beta. Don't be afraid to ask questions. If bitcoin is to survive, it needs to survive critical analysis every time it arises.
May 25, 2011, 08:54:10 AM
This looks like typical Keynesian claptrap and the idea of "money as debt" is fundamentally flawed since it is based on labor theory of value.
May 25, 2011, 08:19:22 AM
I was told about bitcoin today, and I am eagerly over the next few weeks and months learn more about bitcoin.
In August 2006, I realized the economic disaster the US and world was building, and since that awakening I have been reading and writing on a blog.
I posted in January of this year that a new form of money is needed......and it seems that bitcoin is an evolutionary step to that end.
Post:
http://websurfinmurf.blogspot.com/2011/01/ideal-form-of-money-empower-people.html
Thanks to bitcoiners for dedicating their time and labor in this bleeding edge, revolutionary experiment.
In August 2006, I realized the economic disaster the US and world was building, and since that awakening I have been reading and writing on a blog.
I posted in January of this year that a new form of money is needed......and it seems that bitcoin is an evolutionary step to that end.
Post:
http://websurfinmurf.blogspot.com/2011/01/ideal-form-of-money-empower-people.html
Thanks to bitcoiners for dedicating their time and labor in this bleeding edge, revolutionary experiment.
You're prophetic.
May 25, 2011, 04:34:34 AM
Welcome WebSurfinMurf
May 24, 2011, 10:20:48 PM
I was told about bitcoin today, and I am eagerly over the next few weeks and months learn more about bitcoin.
In August 2006, I realized the economic disaster the US and world was building, and since that awakening I have been reading and writing on a blog.
I posted in January of this year that a new form of money is needed......and it seems that bitcoin is an evolutionary step to that end.
Post:
http://websurfinmurf.blogspot.com/2011/01/ideal-form-of-money-empower-people.html
Thanks to bitcoiners for dedicating their time and labor in this bleeding edge, revolutionary experiment.
In August 2006, I realized the economic disaster the US and world was building, and since that awakening I have been reading and writing on a blog.
I posted in January of this year that a new form of money is needed......and it seems that bitcoin is an evolutionary step to that end.
Post:
http://websurfinmurf.blogspot.com/2011/01/ideal-form-of-money-empower-people.html
Thanks to bitcoiners for dedicating their time and labor in this bleeding edge, revolutionary experiment.
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