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<br>
Not just Paypal. Visa, Mastercard, Amex, Discover, all near $100
billion capitalization companies, all built on their ability to
muscle their way into steeling 3% of every effing transaction in
the world.<br>
<br>
Making money by shorting MasterCard International because of
Bitcoin?<br>
<br>
Priceless!<br>
<br>
So, what's your current thinking about what a Bisection will be
worth in 1 year, and long term. How high could they go? Anywhere
near 1 Satoshi = $1? At that value all of them would start to be
close to all the real estate in all the world, at today's prices.<br>
<br>
Brent Allsop<br>
<br>
<br>
<br>
<br>
<br>
On 6/19/2013 3:15 PM, <a class="moz-txt-link-abbreviated" href="mailto:sparrohawc@gmail.com">sparrohawc@gmail.com</a> wrote:<br>
</div>
<blockquote
cite="mid:70ddaf21-9dd3-45ba-9146-0e2944934e1c@googlegroups.com"
type="cite">Alright, I'm late to the party, but being a fan of
Bitcoin I have a few things to add.<br>
<br>
Bitcoin will settle down as they are disseminated more widely.
The market suffers when the assets are held in few hands, because
it's easier for it to flow one way or the other - and thus easier
for the value to shift quickly. The recent booms and busts are
drastically less pronounced than they used to be. I hope this is
a trend that continues, because it will encourage the use of
bitcoins as a payment method instead of just a store of value that
is likely to give good returns - and BTC as a payment method is,
in my opinion, the best use of bitcoins. Having a single
authority for online payments (see: Paypal) is counter-productive,
as the opportunity for the authority to exploit its position
increases with the number of people using it.<br>
<br>
Paypal is already practically a card-carrying villain if you
happen to be in the business of selling things. It's far too easy
to get bit by them, and the response is usually a shrug followed
by a "We already have all your money" and "Who else are you going
to go with?" Frankly, anything that can take them, and their ilk,
down a couple pegs, is alright by me.<br>
<br>
The thing people keep failing to realize is that the creation of
Bitcoins is the creation of a commodity, not a Ponzi scheme. It's
only an investment in the sense that you are buying something that
may increase in value in the future; it is in no way guaranteed,
and the boom-and-busts are proof of that to anyone with a pair of
eyes. If you go into it expecting to see nothing but a climb in
value, you're exceptionally naive. I hope we'll see $1K/BTC in
the future, but I'll admit that's just a wish born of greed. In
reality, the only way that's going to happen is if people *use*
bitcoins. With a Ponzi scheme, you're being told up-front that
you should expect X amount of return. On top of that, the only
use of a Ponzi is to get money back. That is far from the only
use for bitcoins.<br>
<br>
I'll reiterate: I only care about Bitcoins climbing in price
because I happen to have a few. Wholly separate from that is the
hope that Bitcoins are USED, and used WIDELY, because I see them
as a superior method of online payment.<br>
<br>
On Saturday, June 1, 2013 12:43:09 PM UTC-7, Brent.Allsop wrote:
<blockquote class="gmail_quote" style="margin: 0;margin-left:
0.8ex;border-left: 1px #ccc solid;padding-left: 1ex;">
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<div><br>
Future Theoreticians,<br>
<br>
Multiple thoughts have been percolating in my mind that has
further falsified my fears of a Bitcoin Deflationary
Catastrophe. Help me see if I'm making any mistakes with
this line of reasoning.<br>
<br>
Currently, economies have a general instability in them,
causing destructive boom and bust cycles. During the boom,
everyone is spending all their cash, to get into the stock
market. This tends to cause currency to become worth less,
or inflation, since everybody is getting rid of it, to
purchase stocks. But when the herd goes to far in this
direction it creates a bubble. When a pull back starts the
'bubble' pops. This is compounded as people want to sell
stocks (or not buy them), but instead put the capital into
something like Cash. reversing everything in a compounding
the problem unstable way.<br>
<br>
All this causes people to reduce spending and investing,
which causes jobs to be lost, real estate values, where most
wealth is, crash, the stock market crashes, and governments
attempt to counteract this cycle buy pumping more money into
the system. They attempt to stop the deflation, and further
drive down interest rates, hoping to motivate people to move
money back into the stock market and real estate.<br>
<br>
What scared me was thinking of a fixed size inflexible
currency, like Bitcion, if it was prevalent enough, it would
really compound these unstable cycles. I believe when the
next recession hits, it will really drive up Bitcion
valuations, and no government will be able to counteract
this flow of capital out of everything else into rapidly
increasing in value Bitcoins.<br>
<br>
But what I realized was that this would make at least some
people significantly more wealthy, and make them want to
spend that much more money. In other words, instead of the
government being the only one spending and putting people to
work, Bitcion holders would likely fill this responsibility.<br>
<br>
The one problem would be, like most things, it makes the
rich or those holding the most Bitcoins richer, making
everyone else poorer. Where as governments tend to spend
money to help the poor, the rich would spend money on what
they want, helping the poor the way they wanted, after
funding themselves.<br>
<br>
Also, when the rich really do get richer, eventually the
people at the bottom, revolt, taking all the wealth away
from the wealthy, as has occurred in so many revolutions in
the past. But Bitcoins would make this impossible. As no
government can steal a Bitcion from anyone, like they can a
factory or farm.<br>
<br>
So, what does everyone think? Would Bitcion becoming the
dominant currency increase or decrease boom bust cycles in
the economy, and by how much?<br>
<br>
Brent Allsop<br>
<br>
<br>
On 5/29/2013 8:57 AM, James Carroll wrote:<br>
</div>
<blockquote type="cite">
<div dir="ltr">On Wed, May 29, 2013 at 3:25 AM, Carl
Youngblood <span dir="ltr"><<a moz-do-not-send="true"
href="javascript:" target="_blank"
gdf-obfuscated-mailto="ndl9ZHtnxtEJ">ca...@youngbloods.org</a>></span>
wrote:<br>
<div>
<div class="gmail_quote">
<blockquote class="gmail_quote" style="margin:0 0 0
.8ex;border-left:1px #ccc solid;padding-left:1ex">
<div dir="ltr">James, all I'm saying is that I don't
think bitcoin will cause the human race to go
extinct against our wills. Anything more than this
is beyond my claim. If you do think that bitcoin
will probably cause the human race to go extinct,
then you disagree with me. Otherwise I think we
agree.</div>
</blockquote>
<div><br>
</div>
<div><br>
</div>
<div>I think we generally agree that bitcoin is
unlikely to have that effect. I simply took slight
issue with your stated reasoning for why. But I
think we agree in general. </div>
<div><br>
</div>
<div>James</div>
<div><br>
</div>
</div>
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