One day, while I was learning about cipherspace, I discovered BitCoin . BitCoin is a completely decentralized, anonymous online monetary system that relies on a distributed database to facilitate transactions. The creator put a great deal of effort into ensuring that the system is secure and reliable…

The main point I would like to contend is your underlined “one way”. I assume that you mean this is the only way for a currency to become established? While I am not normally a fan of idioms this one seems to ring excedingly true here, “there is more than one way to skin a cat”. I have read the r…

I think this is where the regression theorum comes into play. They know the value because of how much it was worth yesterday and they can extrapolate from there.

They know how much computing power it takes to generate a new BitCoin and therefor time/energy required. They can then charge more for their good/service than it takes to “print a new coin” by calculating how much it time/energy is required for them to provide their service. It’s a rough calculatio…

The argument as I see it is whether or not BitCoins are capable of becoming a popular currency. Assuming they were popular, they have many advantages over the USD and none of the disadvantages (inflation, etc.). However, whether or not they can come into popular usage is highly questionable. Mises…

This misses the point. How does a store know what exchange ratio to use between bitcoins and apples? How does one know how much an apple is worth in Bitcoins? This is ignores fundamentally what money actually is. A key component to the regression theorum and misses the actual fundamental issues …

I agree that BitCoin does not meet the requirements to make it as a form of money as Mises defines it. I disagree that Mises’s regression theorum is the only way to create a new form of money. I feel that people keep pointing at how BitCoin does not meet the regression theorem requirements yet I a…

How is BitCoin superior to just using physical gold and silver? I don’t see the advantage. MapleStory Mesos Buy Maplestory Mesos Cheap Maplestory Mesos Buy RS Gold

You can’t send physical gold and silver through the mail to pay your electric bill, for example. Physical gold and silver only works for face-to-face transactions. Rift Platinum Rift Plat Rift Gold Cheapest WoW Gold

Quote Micah, I used your name here because you were pointing out previously that everything is taxed, even bitcoin. I was simply stating to you that bitcoin allows you the sole option of what is taxed or not taxed, because bitcoin usage can be structured so that its usage is only known by you and y…

Is BitCoin the currency of the future?

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filc March 16, 2011, 11:31pm 117

You were so close but..

But I think you missed a very crucial point he was making when he argued that. What is money? 4 word definition.

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Is BitCoin the currency of the future?

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