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…

You can buy absolutely anything using bitcoins. But there are two minor catches. First, if there there isn’t a regular retailer offering the goods or services that you want, then you’re going to have to pay a premium to have someone go out of their way to get or do whatever you want. Second, if you…

Im not picking on you NLS but I have to just point this out. As accounted for in what? Made a little money in what? USDollars? Oops… :slight_smile:

His efforts resulted in an increase to his total wealth. It doesn’t matter what units of measurement you use.

As accounted for in what? Made a little money in what? USDollars? Oops… :slight_smile: Yes, I am implying US dollars, but not because I don’t view bitcoins as money, but rather because I was replying to someone who is unfamiliar with bitcoins. Also I am conscious of the IRS, so I want to be cle…

I’ve had some minor profits as well, but not in US $. I’ve bought USB drives, necklaces from Etzy, digital services, and have donated to various blogs and artists. All totalled, if valued based upon the present BTC/US$ exchange rate on MtGox.com , I have spent more ‘value’ than I originally spent to …

Your using dollars to measure your gains/losses.

The way you phrase it makes it sound subjective. But thats not what he was saying. Ofcoarse to any hobbyist participating in this they would bring themselves pleasure. That doesn’t mean you’ve created a currency. (I Believe Clayton already said this)

Your using dollars to measure your gains/losses. Only as a common frame of reference, and for your benefit at that. I, personally, have not experienced any such gains, in any context much less in US $. I would have to be willing to sell them for US $ to relize any such gains, and I am not so wil…

Its not a theory, its a fact. All goods and services are priced in dollars. Take any good sold in BTC’s run the dollar ratio/BTC ratio and you will see the good was priced from USD’s. There is no historical exchange ratio in BTC’s. There is on the other hand an exchange ratio for Dollars to Goods a…

Is BitCoin the currency of the future?

Economics Economics Questions

filc April 4, 2011, 7:25pm 258

Fine I did it. Here.

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Is BitCoin the currency of the future?

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