By buying a bitcoin you buy a mean of exchange but also one of the only 21 millions coins that will ever exist and thus you "own" part of the bitcoin payment system.
See it as a currency, yes, but see it also as a share of a financial platform.
The owners of this platform will own 21 million coins. How much these coins are worth will depend on how useful the platform is to people and not just coin/share owners.
Bitcoin is not about investing, it's about facilitating transactions.
But if you want to have a share in that investment platform, you invest in a BC and hold it and thus hold a share of the platform.
It is not needed to own BC to use BC as a payment system. Transactions can be made from currency through exchange rate, these services already exist.
People who only want to use BC for transactions purposes will not buy and hold bitcoins but only convert in and from bitcoins.
Topic: Why treat bitcoin as money and not code/software? (Read 1461 times)
Bitcoin is software and money also.
Basically, every time a bank makes a loan, they create money out of thin air!
And every time a miner solves and broadcasts a block, they create money out of thin air! So What?
So, the crazy thing isn't that money is "created out of thin air!", it's just that there isn't a limit on how much of it can be created that way?
Why not treat money as paper?
I think you need to change that question... Why treat paper as money?
Why not treat money as paper?
Basically, every time a bank makes a loan, they create money out of thin air!
And every time a miner solves and broadcasts a block, they create money out of thin air! So What?
Huge difference! There is a limited number of blocks, there is an unlimited supply of US dollars.
I suggest everyone head over to: http://www.zerohedge.com/
I figure this is probably a great place to ask this question.
So I'm in the shower this morning, and it hits me: Bitcoin is just ones and zeroes. Sure it has lots of the features and benefits traditional currency can provide (and a whole lot more), but it's just code, right? So how come (besides the fact government just loves to steal) bitcoin is being treated like it's money and not software? Having someone sign an End User License Agreement would be a hell of a lot simpler than having to gather tons of information on them.
Then maybe I wouldn't have to drive to Canada to see a Robocoin kiosk in action.
(Yes I'm in NH, yes I know the Lamassu guys, but I still haven't seen one of their machines)
So I'm in the shower this morning, and it hits me: Bitcoin is just ones and zeroes. Sure it has lots of the features and benefits traditional currency can provide (and a whole lot more), but it's just code, right? So how come (besides the fact government just loves to steal) bitcoin is being treated like it's money and not software? Having someone sign an End User License Agreement would be a hell of a lot simpler than having to gather tons of information on them.
Then maybe I wouldn't have to drive to Canada to see a Robocoin kiosk in action.
(Yes I'm in NH, yes I know the Lamassu guys, but I still haven't seen one of their machines)
It can be. Anything can be a currency as long as it meets these criteria:
1. People believe it to have value.
2. It is easy to trade.
3. It's hard to counterfeit.
I think software only meets No. 2..
I'd say 1 and 2, but yea, not 3
I figure this is probably a great place to ask this question.
So I'm in the shower this morning, and it hits me: Bitcoin is just ones and zeroes. Sure it has lots of the features and benefits traditional currency can provide (and a whole lot more), but it's just code, right? So how come (besides the fact government just loves to steal) bitcoin is being treated like it's money and not software? Having someone sign an End User License Agreement would be a hell of a lot simpler than having to gather tons of information on them.
Then maybe I wouldn't have to drive to Canada to see a Robocoin kiosk in action.
(Yes I'm in NH, yes I know the Lamassu guys, but I still haven't seen one of their machines)
So I'm in the shower this morning, and it hits me: Bitcoin is just ones and zeroes. Sure it has lots of the features and benefits traditional currency can provide (and a whole lot more), but it's just code, right? So how come (besides the fact government just loves to steal) bitcoin is being treated like it's money and not software? Having someone sign an End User License Agreement would be a hell of a lot simpler than having to gather tons of information on them.
Then maybe I wouldn't have to drive to Canada to see a Robocoin kiosk in action.
(Yes I'm in NH, yes I know the Lamassu guys, but I still haven't seen one of their machines)
It can be. Anything can be a currency as long as it meets these criteria:
1. People believe it to have value.
2. It is easy to trade.
3. It's hard to counterfeit.
I think software only meets No. 2..
Basically, every time a bank makes a loan, they create money out of thin air!
And every time a miner solves and broadcasts a block, they create money out of thin air! So What?
What is Money? What we mostly have is Debt, that is why bitcoin is increasing in value, it is not Debt! bitcoin is stable, the fiat currencies are not and that is why bitcoins value fluctuates (alright there is more to it)
Go to your local library (if you still have one) and go to the Law section and grab a Blacks Law Dictionary and look up Money, heck look up a lot of words you thought you knew!
Now then, just what does professor farnsworth think the future of bitcoin really is? Is it going to usurp our current method of labour trade for real Freedom?
As another poster stated bitcoin is not just money, it is so much more!
8 )
Go to your local library (if you still have one) and go to the Law section and grab a Blacks Law Dictionary and look up Money, heck look up a lot of words you thought you knew!
Now then, just what does professor farnsworth think the future of bitcoin really is? Is it going to usurp our current method of labour trade for real Freedom?
As another poster stated bitcoin is not just money, it is so much more!
8 )
I figure this is probably a great place to ask this question.
So I'm in the shower this morning, and it hits me: Bitcoin is just ones and zeroes. Sure it has lots of the features and benefits traditional currency can provide (and a whole lot more), but it's just code, right? So how come (besides the fact government just loves to steal) bitcoin is being treated like it's money and not software? Having someone sign an End User License Agreement would be a hell of a lot simpler than having to gather tons of information on them.
Then maybe I wouldn't have to drive to Canada to see a Robocoin kiosk in action.
(Yes I'm in NH, yes I know the Lamassu guys, but I still haven't seen one of their machines)
Both bitcoin and dollar are created out of thin air, so basically its all about what people trust more. So I'm in the shower this morning, and it hits me: Bitcoin is just ones and zeroes. Sure it has lots of the features and benefits traditional currency can provide (and a whole lot more), but it's just code, right? So how come (besides the fact government just loves to steal) bitcoin is being treated like it's money and not software? Having someone sign an End User License Agreement would be a hell of a lot simpler than having to gather tons of information on them.
Then maybe I wouldn't have to drive to Canada to see a Robocoin kiosk in action.
(Yes I'm in NH, yes I know the Lamassu guys, but I still haven't seen one of their machines)
I figure this is probably a great place to ask this question.
So I'm in the shower this morning, and it hits me: Bitcoin is just ones and zeroes. Sure it has lots of the features and benefits traditional currency can provide (and a whole lot more), but it's just code, right? So how come (besides the fact government just loves to steal) bitcoin is being treated like it's money and not software? Having someone sign an End User License Agreement would be a hell of a lot simpler than having to gather tons of information on them.
Then maybe I wouldn't have to drive to Canada to see a Robocoin kiosk in action.
(Yes I'm in NH, yes I know the Lamassu guys, but I still haven't seen one of their machines)
Both bitcoin and dollar are created out of thin air, so basically its all about what people trust more. So I'm in the shower this morning, and it hits me: Bitcoin is just ones and zeroes. Sure it has lots of the features and benefits traditional currency can provide (and a whole lot more), but it's just code, right? So how come (besides the fact government just loves to steal) bitcoin is being treated like it's money and not software? Having someone sign an End User License Agreement would be a hell of a lot simpler than having to gather tons of information on them.
Then maybe I wouldn't have to drive to Canada to see a Robocoin kiosk in action.
(Yes I'm in NH, yes I know the Lamassu guys, but I still haven't seen one of their machines)
I figure this is probably a great place to ask this question.
So I'm in the shower this morning, and it hits me: Bitcoin is just ones and zeroes. Sure it has lots of the features and benefits traditional currency can provide (and a whole lot more), but it's just code, right? So how come (besides the fact government just loves to steal) bitcoin is being treated like it's money and not software? Having someone sign an End User License Agreement would be a hell of a lot simpler than having to gather tons of information on them.
Then maybe I wouldn't have to drive to Canada to see a Robocoin kiosk in action.
(Yes I'm in NH, yes I know the Lamassu guys, but I still haven't seen one of their machines)
Both bitcoin and dollar are created out of thin air, so basically its all about what people trust more. So I'm in the shower this morning, and it hits me: Bitcoin is just ones and zeroes. Sure it has lots of the features and benefits traditional currency can provide (and a whole lot more), but it's just code, right? So how come (besides the fact government just loves to steal) bitcoin is being treated like it's money and not software? Having someone sign an End User License Agreement would be a hell of a lot simpler than having to gather tons of information on them.
Then maybe I wouldn't have to drive to Canada to see a Robocoin kiosk in action.
(Yes I'm in NH, yes I know the Lamassu guys, but I still haven't seen one of their machines)
Bitcoin is just a decentralized public ledger that records transactions to and from address's. Those transactions could represent anything, and in this case, currency. But imagine. It could be votes.
Or exchanges of ownership of code? That's what I'm saying. It's just information/data. Sure information/data has value, just like anything else, and in this case it's features and benefits make it great for trading basic units of value, but it's still just ones and zeroes.
Bitcoin is just a decentralized public ledger that records transactions to and from address's. Those transactions could represent anything, and in this case, currency. But imagine. It could be votes.
Moneymasters covers history of money and what it is. Watch it on Youtube.
I've seen it. He does a great job reviewing the history, then goes on to say the answer is to cut out the Federal Reserve and allow the Treasury to inflate the money supply, instead...
Moneymasters covers history of money and what it is. Watch it on Youtube.
Online banking is NOT just showing your how much you have in your account...
I'm not going to go into great detail here, but look up fractional reserve banking...
Basically, every time a bank makes a loan, they create money out of thin air! Crazy!
Even crazier when you think how much the federal reserve is "printing"....
+1, bitcoin is just a software, nothing more.
All this regulation bullshit is just that, bullshit, why should we need license to install a software?
All this regulation bullshit is just that, bullshit, why should we need license to install a software?
Federal Reserve has expressed some interest in it's member banks creating crypto currencies.
http://www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2013/cfldecember2013_317.pdf
It's more likely they go the co-opt route than try to ban btc outright.
http://www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2013/cfldecember2013_317.pdf
It's more likely they go the co-opt route than try to ban btc outright.
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