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Why Bitcoin Won’t Die
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Byurcan
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Byurcan,
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3/14/2014 | 1:05:12 AM
re: Why Bitcoin Won’t Die
The Gold Standard always works, because it acts as a check for government spending and forces governments to spend within their means. The reason governments by and large went off the gold standard is because they wanted an "elastic" money supply to fund their endless wars, massive bloated welfare programs and other misguided things governments fund. The financial crisis of 2007-08 would not have occured if we had the Gold Standard, because banks would have been more prudent and not made reckless loans and speculative bets had there not been a central bank in place to print money at will and bail them out.
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
3/13/2014 | 10:53:17 PM
re: Why Bitcoin Won’t Die
The Gold Standard didn't work for the Brits during the 1930's. It can really kill a country's exports. Every store-of-value (gold, silver, U.S. currency, Bitcoins) has its risks and rewards. And they all fluctuate in value a great deal over time. There's not really as much separating them as is sometimes made out to be. The difference with Bitcoin is that it's so new and we're so early on the maturity curve. So there are things -- like building a secure trading infrastructure -- that still need to be figured out.
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
3/13/2014 | 10:44:09 PM
re: Why Bitcoin Won’t Die
A lot of that mocking of Bitcoin also has to do with its attractiveness to criminals and drug dealers. But people tend to forget that the U.S. $100 bill is the store-of-value of choice of the international drug trade. Cash gives just as much anonymity as Bitcoin.
Byurcan
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Byurcan,
User Rank: Author
3/13/2014 | 5:59:31 PM
re: Why Bitcoin Won’t Die
But nothing is as secure as gold, which is why need to bring back the Gold Standard.
Nathan Golia
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Nathan Golia,
User Rank: Author
3/13/2014 | 5:56:06 PM
re: Why Bitcoin Won’t Die
There are degrees of fake money for sure. After all, people were measuring their bitcoin wealth in dollars...
Byurcan
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Byurcan,
User Rank: Author
3/10/2014 | 6:44:01 PM
re: Why Bitcoin Won’t Die
Bitcoin will never die. Mockers like to say it's "fake" but the fiat currency we use every day is just as fake. Only hard silver and gold do I trust.


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