BitCoin - Intellectual Fraud or a Stunning Idea??

So, what really is BitCoin???

  • stunning, refreshing, extremely innovative idea

    Votes: 38 49.4%

  • intellectual, mathematical and computational masturbation

    Votes: 13 16.9%

  • media to waste electricity and computing power

    Votes: 5 6.5%

  • Only aim of idea is to make profits for innovators

    Votes: 17 22.1%

  • No wonder only a Japanese can come up with such an imaginary, illusionary, delusionary, grandeur ide

    Votes: 4 5.2%
  • Total voters
    77
"It is perfectly alright to join a Ponzi and you can make good money by doing so, as long as you know it is a Ponzi, and you are aware of the risks." --- Abraham Lincoln
 
Quote from Pekelo:

"It is perfectly alright to join a Ponzi and you can make good money by doing so, as long as you know it is a Ponzi, and you are aware of the risks." --- Abraham Lincoln
More...

Lol, Ponzi was born 20yrs after Lincoln died, wtfungus?
 
Quote from Soon2Bgreat:

Lol, Ponzi was born 20yrs after Lincoln died, wtfungus?
More...

Tell that to Lincoln, not me.... He was always before his time...
 
well I was undeicded but after reading an analysis by karl denninger I am inclined to believe it is a tulip ponzi

i think wow gold is more valuable than bitcoins in the end.
 
Warning: conspiracy theory coming....

Although Satoshi was using British spelling in his posts, his posting times (well, rather his non-posting=sleeping times) indicated that he was from the East Coast.

So here is my very personal theory about the whole Bitcoin thing:

The NSA or some other US government agency (Fed) decided to try a social experience if a virtual currency could get popular. There could have been several reasons for the experience:

1. Can a virtual money get popular and if so, how fast?
2. If it is a quasi-anonymus payment, can it still be used to locate criminals/terrorists?
3. If it does work, could a government issue such a currency in the future?
etc.etc.etc.

So in my theory, the secrecy of the makers was necessary, because nobody really likes a government issued freedom money. Also, the anonymity is kind of BS, because if a high tech entity gets into it, they can follow the cointrail, the whole blockchain is nothing but a ledger.... Not to mention the earliest coins are still unused, and this could be explained if they were mined by a bunch of government employees, who were not allowed to rip the benefits.
People knowing more about coding assume the code was done by a group, not just one person. If it was one person only, he had to work a lot on it and now when he could cash in, there they are the earliest coins sitting unused.

I might be completely wrong, but that is a plausible scenario and explains a couple of things...
 
It's working. And will continue to work. Bitcoin, is a debt-free currency, which threatens the entire fractional-reserve, Central Banker system. They can't shut it down. It's not tulip bulbs. Saturation is miniscule at 125$ bucks per bitcoin, supply is CAPPED, and available at increasing difficulty. I'm going to buy the dips. Also get in with copy-cats during the early stage. Litecoin looks good.
 
so it seems that after 8 votes, 75% of participants believes that bitcoin is a stunning idea.

Let us see if more votes substantially change this stat.
 
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