Question: How do you think it CURRENTLY inflates/deflates? Just randomly?

I don't know the method of how they would or could interfere , just the history that tells me they'll find a way if they want to.

I'm not against bitcoins at all, just wonder why people think they'll turn out differently that other attempts to escape the influence of governments.

I'd think it would be fairly simple to pass banking laws against transactions involving bitcoins, then how would you, could you, take cash out? Or put it in?

Do you mean bitcoin or the us dollar?

1's and 0's that can spit real green money out of an ATM are pretty different than made up internet funny money.

I agree the weak spot of bitcoin is the exchanges which is where the rubber meets the road.
When bitcoin becomes more widespread people wont need to depend on exchanges as much and can just do transactions locally with cash. I have someone in my town that will buy bitcoins from me if I chose to sell ect. http://localbitcoins.com

Yes but your money that you take out is worth less and less every day. Some people don't mind, but some people wonder why that is. :p

It was the same for internet gambling, eventually the banks are the weak spot.

I wonder what even the discussion of an anti bitcoins banking law would do to people's confidence?

Seems to me that just the rumor of this would be enough to cause a run to cash out, once might be survivable but multiple times would erode confidence.

I see such an action by some government as very probable.

I believe it will be the opposite effect. If there was talk about it people would rush to get them just like they do with guns. Back in 2011 Chuck Shuemer talked about banning bitcoin and the price shot up to 32 dollars a couple days later. Its worldwide there are exchanges all over the place. Every country would have to agree. Some countries will most probably embrace bitcoin.. The world isn't the US. Most bitcoin casino's deal in bitcoin only and have instant cash in's and cash outs no banks involved.

http://www.theverge.com/2012/12/7/37...itcoin-central

And some people send money to Nigerian Princess's.

.

Strange that such a straightforward question is going unanswered.

50 torrent bitcoins

Um no i asked him what he means by "IT" the us dollar or the bitcoin.

another non-government regulated currency
 

Tulip Bulbs - For a while in Holland "The Currency"
http://en.wikipedia.org/wiki/Tulip_mania

At the peak of tulip mania, in February 1637, some single tulip bulbs sold for more than 10 times the annual income of a skilled craftsman. It is generally considered the first recorded speculative bubble (or economic bubble)


According to Mackay, the growing popularity of tulips in the early 17th century caught the attention of the entire nation; "the population, even to its lowest dregs, embarked in the tulip trade".[7] By 1635, a sale of 40 bulbs for 100,000 florins (also known as Dutch guilders) was recorded. By way of comparison, a ton of butter cost around 100 florins, a skilled laborer might earn 150 florins a year, and "eight fat swine" cost 240 florins.[7] (According to the International Institute of Social History, one florin had the purchasing power of ?10.28 in 2002.[33])

By 1636 tulips were traded on the exchanges of numerous Dutch towns and cities. This encouraged trading in tulips by all members of society; Mackay recounted people selling or trading their other possessions in order to speculate in the tulip market, such as an offer of 12 acres (49,000 m2) of land for one of two existing Semper Augustus bulbs, or a single bulb of the Viceroy that was purchased for a basket of goods (shown at right) worth 2,500 florins

Tulip mania reached its peak during the winter of 1636?37, when some bulbs were reportedly changing hands ten times in a day. No deliveries were ever made to fulfill any of these contracts because in February 1637, tulip bulb contract prices collapsed abruptly and the trade of tulips ground to a halt.[28] The collapse began in Haarlem, when, for the first time, buyers apparently refused to show up at a routine bulb auction. Only sellers existed, as there were no buyers, at all.

Right now

When my mortgage company starts taking bitcoins. I will start excepting them as payment.

Anyway, you got your answer, yes we are bitcoin haters.

/thread.

Those fictional 1s and 0s are backed up by real currency/banks.
Imaginary currency will bubble explode some day. Remember this post.

Real currency that they print on the printing press every day? Currencies backed by banks have never collapsed no way.

Are you familiar with the federal reserve? Are you going to ensure my bitcoins like the bank insures my money?

Face it. You probably were sucked in to buying a shit ton of bitcoins, now you are here trying to convince the rest of us to take the ride with you. Now you are mad that no one agrees with you.

Let me guess. You are going to build a bonker for the end of the world when construction companies start accepting bitcoins.

Yes I'm familiar with the fed they are the main reason that your dollar is worth less and less each day. Actually the dollar has lost 97% of its value since the Fed came into existence.

Where do I sign up for this awesome Fed? lol

I'm not trying to get anyone to buy them. I'm saying places can accept them and never even have to deal with bitcoins. The cash goes right into your bank account. Nothing wrong with more payment options, less fees, and no chargebacks.

So let me get it right - if some kid invents fake internet currency it is serious business for you?

You asked if people still hate bitcoins. You got your answer. That answer is yes. You dont want to believe it. But it is. No one is agreeing with you. That is the answer to your question. Nothing more really to talk about.

Serious business for some people

"Bitcoin Casino on track to make a million dollars a year"

http://www.digitaltrends.com/web/bit...illion-a-year/

LOL, a million a year. Full Tilt used to make that a week just raking poker games.

I had a bitcoin wallet and it took forever to update the thing and it took up alot of space. Does it store every single transaction ever made on you computer?

The other thing I don't like is people say there are no transaction costs, but I got charged a transaction fee when I bought something. A pretty steep one too because I got a bunch of small transactions in.

Yeah and where are sites like Full Tilt now?

Want to know where they are headed? Bitcoin.

http://www.gambling911.com/businessf...on-012813.html

And why should not they profit if they see that there are idiots who give real value to imaginary currency.

Full Tilt was doing illegal things. but Poker starts and all the other sites are still around. They just dont allow US traffic to send in money. But European people and the rest of the world can send in money. They arent going broke that is for sure.

Full tilt failed not because of some currency (that they accepted) fail. Absolutely nothing to do with it. You make illogical arguments.

You can add a fee so that the transaction will be processed faster by the miners. Noone ever said no transaction costs. As far as the blockchain yeah you have to download the full blockchain, but there are "lightweight" clients that dont use the whole chain. Not sure of any names off the top of my head. They are working on that aspect.

that is exactly what he does. I tell him my dollars are insured. He tells me something bad about the FED. What he doesnt realize if I put 100k into the bank, I take 100k out. He is just begging for someone to agree with him is all. I wonder how much money it bitcoins he has that he is so desperate for approval.

They failed (in the us) because of laws surrounding the currency. The currency is tighly controlled. Bitcoin can't be controlled. Instant cash in's and cash outs no banks to go through.

I showed you proof that big casino's were picking up on it, and I'm still the crazy one. :1orglaugh:1orglaugh

I run http://classycams.com/

I'm happy we implemented bitcoin. It attracted a whole different breed of customer. All bitcoin customers are new customers...every single one. A lot of them tell me they just signed up to promote bitcoin which was pretty cool. These guys are pretty hard core bitcoin users. I will most likely integrate it in our other cam sites as well in the near future.

Finially jeez. :thumbsup

it was blatantly obvious he meant bitcoin.

you forgot to mention 'stupid.'

bitchin STUPID haters

congrats, you are the 1%

Bitcoins are produced at a predictable rate. Every 4 years it gets cut in half. Up until this past november 50 were produced every 10 minutes. It got cut to 25 this november.. in another 4 years it will get cut in half again. There will only be 21 million ever made. Right now there are about 10.7 million in circulation. Its all written in the code, and the code is open source and constantly being reviewed.

It is written in stone in open source code. lol

If someone tries to change the code, the rest of the network will reject it. I understand that I'm talking to someone who has no idea how this works. :winkwink: