Bitcoin as the world's reserve currency?

Nice read.

" a virtual currency scheme may also be implemented in order to compete with traditional currencies, such as the euro or the US dollar"

"It can be concluded that, in the current situation, virtual currency schemes:
− do not pose a risk to price stability, provided that money creation continues to stay at a low
level;"

is $65 bill a month a low level?

How about the yen, how are those low level money creations going?

"The threat posed by
Bitcoin is, for the moment, only theoretical. But as more and more people come to understand the
advantages of digital money over paper money, the threat it poses becomes increasingly real."
 
FireWalker said:
Bitcoin can't be printed. It can't be faked. A record of all transactions is public. It crosses borders easily and doesn't require a vault. It is the perfect settlement for central banking transactions.

The BIS created SDRs to fill this role. Bitcoin might be that replacement.

What is needed is liquidity. An exchange in each country with a currency. Wealth translators to efficiently exchange Bitcoin for any other value, including gold.

To bind these currencies together a common language is also needed: Promise Language. http://promiselanguage.blogspot.com
More...

i think the overwhelming benefits of digital currency within the backdrop of overhwhelming cynicism by the masses makes bitcoin one of the best investments of our lifetime.
 
STC Capital said:
The bitcoin crowd has officially lost it.
More...

It is a highly effective psychological tactic. The next time someone in authority is over-exerting such, like your boss being a jerk, say, "You lost." and walk off.

"Lost? Lost what? How did I lose? What's going on?"

If further questions, then shake your head and mutter, "You lost big time." and walk off.
 
I always thought anyone participating at ET has already "lost it" :D:D

We all have to be a little nuts to be in this profession. (or pretend to be trading)
 
just21 said:
http://pix.cs.olemiss.edu/csci103/bitcoinMarketplace.pdf

REGULATING DIGITAL CURRENCIES:
BRINGING BITCOIN WITHIN THE REACH OF THE IMF

http://www.ecb.europa.eu/pub/pdf/other/virtualcurrencyschemes201210en.pdf
More...
'

Bingo. It's not going to be hackers that destroy bitcoin, it will be world governments.

Printing presses are powerful weapons. Do you really think the US Congress or the EU is going to allow a "digital currency" to undermine their power?

They would regulate bitcoin out of existence with bi-partisan/world support as soon as the first whiff of a threat emerges.
 
FireWalker said:
It is a highly effective psychological tactic. The next time someone in authority is over-exerting such, like your boss being a jerk, say, "You lost." and walk off.

"Lost? Lost what? How did I lose? What's going on?"

If further questions, then shake your head and mutter, "You lost big time." and walk off.
More...
I have evidence on my side, you have your beliefs and emotions. I'll take that every time.
 
without reading endless posts...
Can anyone say why Mt Gox actually had peoples bitcoins?
Was it more acting as a bank / secure depository (ha!) / broker (like MFGlobal - double ha!) than merely an exchange?
I thought the point was everyone had their own wallet.
thanks.
 
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