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Topic: State of Bitcoin (Read 1975 times)

newbie
Activity: 9
Merit: 0
February 24, 2012, 01:20:49 AM
#27
What are your reasons why you invest your time into bitcoin?

Thanks!
I have a few reasons. Like most people who use bitcoin I like the freedom from any centralized entity. I also see the system as somewhat elegant, bitcoin pays people with bitcoin to mine and keep itself running. I can also see it, or it's future predecessor becoming the world's currency, so it's nice to feel like something of a pioneer.
legendary
Activity: 1708
Merit: 1010
February 23, 2012, 11:48:57 PM
#26
There is a paradox that strikes me strongly here. On the one hand, a tonne of people seem to be interested in developing Bitcoins for ideological reasons, to develop a currency independent of corporations or central banks. On the other hand, one of the biggest groups I see on here are ex-forex traders hoping to make a quick profit! Intuitively, those seem like clashing beliefs to me: speculative-capitalist and anti-capitalist.

Or am I totally wrong.

I don't think you're wrong, per se; but you are seeing the community through colored glasses.  The dominate ideology among the early bitcoin users (myself included) is strongly libertarian.  The US, (for example) is not a free market anymore; and hasn't been since 1913.  It's literally impossible for a free market to exist if the monetary system's value is 'regulated' (price controlled) by a central bank; because the monetary system in use is half of all the transactions.  Whether or not the monetary system is well managed or not is irrelevent.
legendary
Activity: 1736
Merit: 1006
February 23, 2012, 09:47:01 PM
#25

I thought a welfare state is a state that takes care of it's people more than it's businesses.  The USA is not that.

All welfare states are doomed to eventually serve NEITHER purpose.

Take care of business (let it alone) and the country prospers. That is what the USA used to be.
hero member
Activity: 742
Merit: 500
February 23, 2012, 08:11:27 PM
#24
On the one hand, a tonne of people seem to be interested in developing Bitcoins for ideological reasons, to develop a currency independent of corporations or central banks.

Wanting freedom from the central banks is not anti-capitalist. 

Wholeheartedly agree. NOT ONLY is not anti-capitalist, but it is the responsibility of every free-market believer to do whatever it is possible to break free of this "bank/big corporation socialism" we live in. The USA, and the rest of the world has actually never been less capitalistic and free market oriented as it is now today, if we talk of course of the PURE concept of capitalism and free market. Again, we live in a welfare state where big corrupted corporations and banks have manage to create quite the system for themselves. That is neither capitalism nor free market.

Roberto
I thought a welfare state is a state that takes care of it's people more than it's businesses.  The USA is not that.
donator
Activity: 296
Merit: 250
February 23, 2012, 08:07:56 PM
#23
On the one hand, a tonne of people seem to be interested in developing Bitcoins for ideological reasons, to develop a currency independent of corporations or central banks.

Wanting freedom from the central banks is not anti-capitalist. 

Wholeheartedly agree. NOT ONLY is not anti-capitalist, but it is the responsibility of every free-market believer to do whatever it is possible to break free of this "bank/big corporation socialism" we live in. The USA, and the rest of the world has actually never been less capitalistic and free market oriented as it is now today, if we talk of course of the PURE concept of capitalism and free market. Again, we live in a welfare state where big corrupted corporations and banks have manage to create quite the system for themselves. That is neither capitalism nor free market.

Roberto
hero member
Activity: 742
Merit: 500
February 23, 2012, 08:00:56 PM
#22
On the one hand, a tonne of people seem to be interested in developing Bitcoins for ideological reasons, to develop a currency independent of corporations or central banks.

Wanting freedom from the central banks is not anti-capitalist. 
Wow. Some real words of wisdom.  I'm liking you more every day atlas.
newbie
Activity: 45
Merit: 0
February 23, 2012, 07:57:19 PM
#21
I got into it as a relatively cheap way to begin some trading with real money. The more I've read about it the more appealing it is because it isn't reliant on government control, and it's nice to be away from the eye and thumb of the government.
newbie
Activity: 4
Merit: 0
February 23, 2012, 05:34:33 PM
#20


Wanting freedom from the central banks is not anti-capitalist. 

Exactly. There's freedom in free enterprise.
newbie
Activity: 4
Merit: 0
February 23, 2012, 05:29:20 PM
#19
As a complexity theorist, I recognised the significance of bitcoin almost immediately. Bitcoin is a superior medium of exchange to what we have been using.

1: Enforcement of anti-counterfeit rules is built in.
2: No central control means that the intelligence of the market rules, and it is a difficult medium to be abused by elites.
3: Freedom and inexpensive exchange
4: Math says that currency monopoly is unhealthy, so there needs to be competition in currency.
5: Designed to reward the early adopter.
6: Bitcoin mining with opencl is cool.
7: Bitcoin mathematics is at its foundation beautifully conceived. Rather than using policemens guns to enforce the nature of the currency, mathematical and computational law do that naturally.
8: There are complaints that bitcoin has no inherent value... Believe it or not, this actually is an advantage because it bypasses one of the money-mongers primary strategies... They find ways to take the currency in use out of circulation (such as government decrees that no one is allowed to have gold) so that they can force people to use their junk shit vomit currencies.  For currencies with inherent value, it is difficult to impossible to replace them, so the public  winds up falling into their trap. Bitcoin is not that way.  It can not reasonably be stolen out of existence. In the worst case, they can just start a new bitcoin. 
9: The current system is shit, designed to make slaves of people, and its the responsibility of smart people everywhere to assert an evolution.

Ofcourse, BC has weaknesses as well. Everything does,  but that was not the question.

What a great post!
hero member
Activity: 784
Merit: 1000
bitcoin hundred-aire
February 23, 2012, 03:37:23 PM
#18
On the one hand, a tonne of people seem to be interested in developing Bitcoins for ideological reasons, to develop a currency independent of corporations or central banks.

Wanting freedom from the central banks is not anti-capitalist. 
legendary
Activity: 938
Merit: 1001
bitcoin - the aerogel of money
February 23, 2012, 05:07:51 AM
#17
There is a paradox that strikes me strongly here. On the one hand, a tonne of people seem to be interested in developing Bitcoins for ideological reasons, to develop a currency independent of corporations or central banks. On the other hand, one of the biggest groups I see on here are ex-forex traders hoping to make a quick profit! Intuitively, those seem like clashing beliefs to me: speculative-capitalist and anti-capitalist.

Or am I totally wrong.

The Bitcoin community is diverse. Bitcoin is just a tool and different people have different uses for it.

I see no paradox in that.  Just like it isn't a paradox that nuclear technology can be used both for weapons and for powering zero-carbon TGV trains.  It would only be a paradox if one use precluded the other, but that's not the case with Bitcoin.

Most people who are interested in Bitcoin for ideological reasons, are some flavor of libertarian and don't really fit into the traditional right/left or capitalist/socialist spectrum.

Libertarians are pro free market.  Central banks are seen as a coercive distortion of the free market and that's why most libertarians oppose them.  Some, but not all libertarians also oppose big corporations because they are seen to hurt the free market through practices like regulatory capture.

There are also a lot of moderates and pragmatists in the bitcoin community, but they don't tend to be as vocal as the ideologists.
newbie
Activity: 26
Merit: 0
February 22, 2012, 02:29:35 PM
#16
I don't think the people who ideologically like bitcoins are against corporations, they're more against central banks and money being in the hands of others and capable of being locked and taken away by government intrusion. These are more libertarian ideals (re: Ron Paul). I think the fact that the more hash's and btc you have the more power you have is kind of super capitalist in a way.

Having traders get involved is a good thing imo, people familiar with the industry are adopting it more and more.
newbie
Activity: 7
Merit: 0
February 22, 2012, 12:27:14 PM
#15
There is a paradox that strikes me strongly here. On the one hand, a tonne of people seem to be interested in developing Bitcoins for ideological reasons, to develop a currency independent of corporations or central banks. On the other hand, one of the biggest groups I see on here are ex-forex traders hoping to make a quick profit! Intuitively, those seem like clashing beliefs to me: speculative-capitalist and anti-capitalist.

Or am I totally wrong.
full member
Activity: 182
Merit: 100
February 21, 2012, 08:09:42 PM
#14
It seemed interesting
hero member
Activity: 490
Merit: 500
... it only gets better...
February 19, 2012, 10:17:33 AM
#13
Oh, okay... I thought you were calling me a troll in a typical "haze that newb" manner.
sr. member
Activity: 448
Merit: 250
February 19, 2012, 02:50:10 AM
#12
Not sure, what you are trying to say...
If it is a mistake to play by the rules here, why put them up in the first place?

I was just cracking a joke seeming as there are very few people acting like grown ups outside of the development forums. It's kind of a free-for-all, and descends into chaos from there.

There don't seem to be any rules here, other than arbitrary bans for off-topic or ultra-offensive posts.
hero member
Activity: 490
Merit: 500
... it only gets better...
February 18, 2012, 11:14:50 PM
#11
Not sure, what you are trying to say...
If it is a mistake to play by the rules here, why put them up in the first place?
sr. member
Activity: 448
Merit: 250
February 18, 2012, 09:06:46 PM
#10

I am posting here in order to earn my right at the table of "BTC grown-ups" and to have a "grown-up" voice.

Well, there was your first mistake. There are about a dozen people on this forum who aren't at least 50% troll...
newbie
Activity: 37
Merit: 0
February 18, 2012, 08:56:47 PM
#9
Bitcoin is a superior medium of exchange [...] The current system is shit, designed to make slaves of people, and its [sic] the responsibility of smart people everywhere to assert an evolution.

I'd say that's sig worthy...

in fact...  

 Kiss

Thanks!
newbie
Activity: 37
Merit: 0
February 18, 2012, 08:48:01 PM
#8
I'm fascinated by it.  It's definitely a new thing under the sun. [emphasis added]  

+1    Cool
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