JPF Home Page Forums General Messages General Message Forum Bitcoin Talk (Info Interview I Edited)

http://lionsofliberty.com/2014/01/22/lions-of-liberty-podcast-ep-19-trace-mayer-all-about-bitcoin/

Bitcoin is the discussion on that Lions of Liberty Podcast link.

Complicated new form of money, (Bitcoin). Sell your downloads accepting Bitcoin? Your guess is as good as mine, and I have now edited two such interviews, and of the same expert! I am just getting used to swiping my card right! Now, Bitcoin?!

See if you can figure it all out.

Johnny Paycheck by Bitcoin?

A libertarian pyramid scheme. A scam and a hustle. When the bubble bursts a lot of people are going to be holding nothing but digital dust.

HI Dan!

Not a fan huh?! LOL

Please give sources for what you say, as those who might be interested in Bitcoin should know ALL the pros and cons with their related substantial evidence, or even knowledgeable opinions as to any claim.

I've been "trying" to study Bitcoin, and so far, it doesn't seem as you claim, despite the risks that are for sure involved, including recurrent theft, but there are ways to avoid that. There is so much to absorbed with that complicated cyber money. I just hope your comments were not of ignorance, only for concerns of the info seeking people for Bitcoin.

Details please! And Thanks!

Johnny, I'm not trying to talk people out of throwing their own money away. I just expressed an opinion based on what I have read about bit coin and my own understanding of the scams people play and the sales pitches of get-rich-quick schemes. There's plenty of caveats posted on the Internet by people far more knowledgable than I am about commodity trading, speculation, investment. economics and the role of money in human history.

Here's a few link. There's plenty more out there. But I doubt the warnings will dissuade those hoping to hit the bit coin jackpot.

More fraud

http://www.good.is/posts/why-bitcoin-is-a-scam

Beware

Fraud

Here are a few things from the music world's perspective:

http://voxindie.org/bitcoin-pirate-profits-currency

http://rt.com/usa/riaa-bitcoin-pirate-bay-notorious-

http://motherboard.vice.com/blog/next-on-the-recording-industry-hit-list-bitcoin


Bitcoins, like everything else, from the climate to sugar, wine, fish oil, etc. bitcoins is another football that the lefties and righties can argue about. There's a lot, and I mean a LOT of money in keeping us divided. What do you suppose will be spent on the 2014 election...then how about 2016? Yikes!! Not to mention, government is an immense industry and those who govern us are almost all multi-millionaires growing richer every day by giving us reasons do dislike each other. Sad.

Great postings Dan and Mike!

Yes! ALL info should be up for investigation, pro and con.

Great job Dan! Thanks for you time in doing that. The host of Lions and Liberty, Marc Clair, also wants to present the rebuttal side of things, and will probably have on either Peter Shift, or Gary North. I edited shows for both on another podcast/video show, (The Robert Wenzel Show). Those two are of many of their thinking. So, yes, there are plenty of opposite views as to Trace Mayer's.

One thing to point out: There are many merchants already accepting bitcoin as payment. It can be used with less costs for the merchants, for their transaction fees are lower the credit cards. Over a year's time of transaction fees being lower, this will add up in huge savings for the bigger merchants. The more success the merchants have with accepting bitcoin as payment, the more will join on board, simply to lower their expenses. (Instant profit increases starting with the first transaction). This is where I think bitcoin use will get it's legs, making curious shoppers want to learn about why are they accepting bitcoin as payment, same as credit cards.

One of the pros for bitcoin use by consumers is: There is no name tied with the storing or use of bitcoin, although with the investigative ways of the NSA and FBI, people still got caught buying illegal drugs and such in the famous Silk Road case.

But, for the average people not using bitcoin for anything but buying the usual products we all buy, there is no tie to the individual. I bet this is pissing off the gov more and more, as it's use goes up and up, as it has, by the minute even!

Now at least there is a choice and competition for the dollar to be spent with businesses. I don't know if that will turn out to be good or bad. I am in the same boat as all of us, despite having editing three interviews so far on the subject. It is so high tech, and as you know, comes with much boos.

Time will tell how it all plays out. Business are loving it though, so that activity could further add to the awareness and use.

Now, for better or worse? I sure don't know!

Like I said, just swiping my credit card is sometimes challenging enough!

Two little girls with a lemonade stand accepted bitcoin as payments! HOW! LOL

Hi JD, Mike and Dan:

Bitcoin is an interesting topic. Being an old geezer who has witnessed all manner of schemes and "pie in the sky" deals, I tend to mistrust just about anything until the smoke, dust and hype have been cleared away and the truth is common knowledge.

When officials of our government begin ballyhooing something like this, my mistrust level rises to epic proportions. Left, Right or Middle... who knows what or who is behind this? I think the safest position is to hang onto your hard earned cash.

The opinion stated is only that of an old fossil born during the days of the great depression. How's that for depressing?

All the best,

Dave

Good points Dave! Nothing wrong with wanting the smoke to clear and see what the first timers think about it.

"Lions of Liberty" is going to interview one of two opposing viewpoint economists who are nationally known figures I edited for The Robert Wenzel Show, (Peter Shift or Gary North).

In the meantime, here is Gary North's opposing view on Bitcoin:
http://www.garynorth.com/public/11866.cfm

Bitcoins were created as basically an underworld exchange currency. Buy a few kilos of heroine or a 100 AK47's and you don't want your name attached and walking around with that many dollars is tricky... So Bitcoins started being used. It's a highly unstable currency but that's the trade off for staying anonymous.

Heh.. I just got offered money to put a link to bitcoin on this single post. I didn't ask them if they planned to pay in bitcoin, but still thought it was funny for such an old post.

They are planning to move the US to digital money by first recognizing it as legitimate currency. But it isn't backed by anything (nor is our money) so it could easily go POOF at any time. Scary stuff.