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[quote user="Malachi"]you found Dave's arguments to be so convincing that further investigation isnt required. cool. good for you. why are you posting in this thread?[/quote] Malachi, what gives you the impression that I don't believe further investigation is required? I said Dave has given the best explanation in here; that doesn't
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"Well do you prefer an easy to understand piece of misinformation, or a truth that requires thought?" It's not having to think about something that bothers me, it's the tongue twister that people come up with when trying to defend Bitcoin against someone who has shown it for what it clearly is. Like I've said before, it doesn't
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Malachi, Dave has been one of the few people who have been able to explain Bitcoins in a simple manor. It's really hard to find anyone who has an opposing opinion of them to do the same for their defense. I mean, there is someone here who wants others to read a 90+ page thesis on them. You've got to be kidding me!
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So you believe that Bitcoin could become money because it "decreases transaction costs" and it is more resiliant, in your opinion, against "attacks from banks and the state?" In regards to your last point, are you insinuating that gold needed "political reform" and a "total economic collapse" in order to gain
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Blargg, was the purpose of that article to point out the obvious or was there some other meaning behind it? It read exactly how the mood and thought process was behind real estate before it came crashing down.
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Peter, it is true that gold is not money today but it was at one point. There are reasons, which I'm sure you are aware of, that gold is not being used as money today but I don't believe that matters. I thought that this debate was about bitcoins and whether it is or could be money. I used gold in my previous reply because, like I said, it was
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Peter, Sorry, I'm not reading 90+ pages on why you think Bitcoin is money. It can be explained why gold is money in a paragraph, maybe two. The same can be done as to why we pass around fiat. Condense your thesis into a couple pages and I'll take a look at it.
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[quote user="Smiling Dave"]So regard this post as my last one here.[/quote] Well that is a bummer! Peter, Smiling Dave has defined it in his blog posts. I'm pretty sure that he has done so many times on this message board as well.
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I think SD did a darn good job of explaining why Bitcoin will eventually find its way to the same destination of the Ithica Hour. After reading the other thread, there really wasn't any convincing argument made to prove otherwise.
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[quote user="Smiling Dave"]OK, let's look at bitcoin. What does anybody promise to give you in exchange for bitcoin? Gold? Silver? US dollars? Wattage? Utility? No, they promise to give you absolutely nothing. Nobody has made any promise at all. So that bitcoin is backed by nothing.[/quote] Which is why I won't go near it.