mtgox stops all withdraws, dont move anything in

Hoi said:
Bitcoin (as currency) is "backed" by usefulness:
1) for any shop in the world, it gives 3% more profit and a lot less fraud.
2) for any news-paper, micro-payments per article are possible
3) for 6 billion unbanked people, they can now enter the financial system.
4) for any guest-worker, remittance fees are reduced from 20% to zero
5) it's a rare asset and very easily transportable over the Internet.

There is a LOT more usefulness in it's Protocol (not the currency), but that's a waste of my time (as you cannot grasp it anyway).
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HOGWASH... Ilogical arguments... I grasp... it's just stupid. Not backed by anything real... just belief and hope.
 
Hoi said:
Bitcoin (as currency) is "backed" by usefulness:
1) for any shop in the world, it gives 3% more profit and a lot less fraud.
2) for any news-paper, micro-payments per article are possible
3) for 6 billion unbanked people, they can now enter the financial system.
4) for any guest-worker, remittance fees are reduced from 20% to zero
5) it's a rare asset and very easily transportable over the Internet.

There is a LOT more usefulness in it's Protocol (not the currency), but that's a waste of my time (as you cannot grasp it anyway).
More...

When this gains more steam, Merchants can eventually pass along the savings to the customer making it even more appealing.

There are things we still haven't thought about that will come of this transformation. Imagine thinking about FACEBOOK back in 1995 when the internet was just starting out. You would have been laughed at..Im just saying.
 
ElCubano said:
Stupid argument. Not comparable in any way... Facebook is not a "currency" or "store of value"... different kind of speculation.

If I turn out to be wrong, I'll admit. As for now, my view is that you're all overly hopeful and optimistic about a fanciful notion backed by "zero intrinsic value". We'll see.
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ElCubano said:
When this gains more steam, Merchants can eventually pass along the savings to the customer making it even more appealing.

There are things we still haven't thought about that will come of this transformation. Imagine thinking about FACEBOOK back in 1995 when the internet was just starting out. You would have been laughed at..Im just saying.
More...

Retailer contracts with visa and mastercard do not allow them to to offer a different cash price to the price they charge credit/debit card users
 
Scataphagos said:
HOGWASH... Ilogical arguments... I grasp... it's just stupid. Not backed by anything real... just belief and hope.
More...

Just remember...belief & hope made a black man president of the united states of america!

US dollar = backed by the full full faith and credit of the US government

Bitcoin = backed by the full faith and DEBIT of its users.
 
peilthetraveler said:
Just remember...belief & hope made a black man president of the united states of america!

US dollar = backed by the full full faith and credit of the US government

Bitcoin = backed by the full faith and DEBIT of its users.
More...

Agree about Odumbo... "faith and belief => DESTRUCTION"... so much for "faith".

"Full faith and credit of US Government"... to tax its citizens (or print money) to honor its debts.

Bitcoin backed by WHAT??
 
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