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[quote user="filc"] I believe you missed the point. I wasnt refering to it's core mechanics. What do you mean by "Real Economics"? [/quote] *facepalm*
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[quote user="filc"] [quote user="NewLibertyStandard"] That is not a fact, that is verifiably false.[/quote] You can cite an example of a company who's accounting is done in BTC's? How does a vendor know that selling a graphics card at 70BTC's will give him a profit? [/quote] binarysecurity.webs.com
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[quote user="filc"] [quote user="NewLiberty Standard"]My thought is that it is glaringly obvious that you have no more than superficial understanding of how Bitcoin works. [/quote] [quote user="filc"] So now there is a learning curve before using BTC's? Doesn't sound like a medium of exchange that is very accessible
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[quote user="filc"] [quote user="NewLiberty Standard"]My thought is that it is glaringly obvious that you have no more than superficial understanding of how Bitcoin works. [/quote] So now there is a learning curve before using BTC's? Doesn't sound like a medium of exchange that is very accessible. [/quote] How bitcoin works
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[quote user="liberty student"] [quote user="NewLibertyStandard"]That is not a fact, that is verifiably false. Sure, people who sell products which they have purchased using their national currency are probably going to peg the price of their products in bitcoins to however many bitcoins they can sell for the amount of their national
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[quote user="filc"] ... I won’t explain to you the details here but instead expect you to do your homework. ... Just fabricating a digital currency out of thin air and making some kind of scarcity algorithm in and of itself doesn’t make it a good currency. It must offer some type of utility aside from the function as a medium of
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[quote user="filc"] [quote user="MoonShadow"]You seem to go to great lengths to catch me in some kind of 'gotcha', with concern of your "Bitcoin is a US $ proxy" theory. [/quote] Its not a theory, its a fact. All goods and services are priced in dollars. Take any good sold in BTC's run the dollar ratio/BTC ratio
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I honestly don't think of the worth of my bitcoins in US dollars because I'm not interested in selling my bitcoins for dollars. I think of the value of my bitcoins in terms of the amount of services which I pay for using bitcoins. Why would I want to sell my bitcoins? I have enough dollars and I can't buy in dollars what I buy using bitcoins
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[quote user="filc"] [quote user="MoonShadow"] I've had some minor profits as well, but not in US $. I've bought USB drives, necklaces from Etzy, digital services, and have donated to various blogs and artists. All totalled, if valued based upon the present BTC/US$ exchange rate on MtGox.com, I have spent more 'value'
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[quote user="filc"] Im not picking on you NLS but I have to just point this out. [quote user="NLS"]To date I may have made a little money, but for the most part I have mostly just broken even.[/quote] As accounted for in what? Made a little money in what? USDollars? Oops.... :) [/quote] Yes, I am implying US dollars, but not because