What Bitcoin is

SD, why are you so damn scared by Bitcoin?

I like it so much seeing how you have been slammed by history in these past years :-D

SD, why are you so damn scared by Bitcoin?

I like it so much seeing how you have been slammed by history in these past years :-D

When Pythagoras proved A squared plus B squared equals C squared, someone asked him why he is so scared of them being unequal.

Far be it from me to ruin your little pleasures, so don't search my site for "Ithaca Hour".

Bitcoin's commodity value is--virtually zero. So if its exchange value disappeared it'd be gone.

But Anenome, what about Malachi's argument that bitcoin is just what James Bond is looking for? Help me out here.

"Fiat currencies are all backed. No, they really are: they will always buy one temporary relief from the thugs that issue it." ... ... And Bitcoin "is backed" by the little advantage of not having to pay those "reliefs to the thugs", in many circumstances, like taxes and inflation. That'd be worth some few tens of percent of everything which everyone creates with their labour, wouldn't it? How much is that? ... ... I tried to quote Blargg in post 223 here, but something technical failed.

Smiling Dave, you can't even formulate the premises or the question in a coherent manner, so any resemblance of a "proof" has a long way to go.

Bitcoin's commodity value is--virtually zero.

in your opinion perhaps. regardless, this is a thymological proposition.

So if its exchange value disappeared it'd be gone.

no, people would use it as a commodity more often because it would be less expensive to use it as a commodity. the same thing would happen to gold.

I tried to quote Blargg in post 223 here, but something technical failed.

Haha, this forum software is made of fail.

Bitcoins now able to purchase gift cards on-the-spot through Gyft, making retail purchases through bitcoin easier.

http://uptweet.com/viewStory?id=1253