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I just want to say that even though I started this thread about bitcoin, it was solely out of curiosity.
I certainly do not recommend (at this time) that anyone accept bitcoins as a real currency.
Interesting article comparing bitcoins and gold, but as they admit, what is backing the value of gold anyway?
Apparently there is an upper limit of 21 million bitcoins to be mined, which is supposed to give it some intrinsic value. Well, I guess until they decide to remove the limit. :(
At least the value of physical gold is held up by its actual existence. What holds up fiat currencies? Only government printing presses. Ironically the very thing that you worry about with bitcoins is what governments are already doing with their currencies. I think bitcoins are in a bubble. I think currencies unbacked by anything are also in a bubble.
I just want to say that even though I started this thread about bitcoin, it was solely out of curiosity.
I certainly do not recommend (at this time) that anyone accept bitcoins as a real currency.
Interesting article comparing bitcoins and gold, but as they admit, what is backing the value of gold anyway?
Apparently there is an upper limit of 21 million bitcoins to be mined, which is supposed to give it some intrinsic value. Well, I guess until they decide to remove the limit. :(
"Tom is a well known racist, and like most of them he won't admit it, possibly even to himself." - Ed Seedhouse, October 4, 2020.
Fine system for libertarians who would like to see government whither. Governments have two tools to deal with the business cycle and its downturns - monetary policy and fiscal policy. Bitcoin takes away monetary policy and challenges fiscal policy. Followers of Hayek and Schumpeter who believe in creative destruction and the cleansing power of depressions are likely big boosters of Bitcoins.
Even for those who lean towards the Bitcoin worldview, there are warts. Another Bitcoin exchange went bust yesterday:
On March 2nd 2014 Flexcoin was attacked and robbed of all coins in the hot wallet. The attacker made off with 896 BTC, dividing them into these two addresses:
1NDkevapt4SWYFEmquCDBSf7DLMTNVggdu
1QFcC5JitGwpFKqRDd9QNH3eGN56dCNgy6
As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately...
On the news last night, the first ever Bitcoin ATM goes into service today in Vancouver!
My interest in “Bitcoin” still exists, though somewhat more vaguely, and with somewhat less enthusiasm to get involved (my $ 100 investment, if I can buy in with that! LOL), since Mt. Gox collapsed.
It's safe and now I have chances of my $ 20 staying home, and your $ 20 joining mine (this bet has certainly been on a roller coaster).
I don't see the Libs making great inroads into the orange NDP Quebec, at this point. They're definitely going to cause horseraces in many ridings, but I think they're going to fall short.
Remember, the first Trudeau did not endear himself to Quebecers with the War Measures Act. The 2nd Trudeau may find many Quebecois have long memories.
The main issue is whether the Cons are being successful in self-immolating. The fear is that the Harper Nation, is a clone of the Ford one - no wrong is unacceptable! It's the hold-your-nose and vote Con syndrome.
So you'd better start consoling your somewhat comfortable $ 20 Bill, that it just MAY have a new home in 2015!
Bob
P.S. Did you note Lib premier Wynne's comments that she considers the provincial NDP the main threat now (given the scandals, and Hudak being not very liked by Ontarians, the NDP may be the provincial alternative!)
My interest in “Bitcoin” still exists, though somewhat more vaguely, and with somewhat less enthusiasm to get involved (my $ 100 investment, if I can buy in with that! LOL), since Mt. Gox collapsed.
Do most still think it’s a sure-fired loser? Only a shooting star on the horizon?
Bob A
I'm curious - are there any CT members out there who have had the courage to actually buy bitcoins, in any amount (you need not disclose the amount of your considered-by-some "dubious" investment).
Re: The 2015 Federal Election - A Thread Hijack - Sorry!
Hi Bob,
I suppose a PQ loss in the upcoming election might be positive for the federal NDP. If the PQ wins English Canada will have to consider if a Quebecer would be the best prime minister to negotiate separation with the PQ because that's what it would come to this time. A plus for the PM.
Regarding the Ontario NDP, opportunity has already knocked. Like I said once before, opportunity knocks but it doesn't break down your door. Horvath waited too long. The legal action against Hudak looks like a SLAPP and can only gain him votes.
I suspect the NDP will support the liberal budget again.
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