Bitcoins and Snake Oil Salesmen. Bitcoin’s Collusion Problem timothyblee.com What Will Collapse First,Bitcoin or the Dollar? dont-tread-on.me Bitcoins, a Crypto-Geek Ponzi Scheme www.hightechforum.org Precious Metals don’t need computers and electricity for their existence. Precious Metals can’t be printed out of thin air or generated from a computer. Any software program is subject to hacking. Any signal that passes through public communications infrastructure is subject to censorship or being shutdown. Even if Bitcoins are accepted for widescale use such as being accepted at Banks, Banks will charge interest to loan them out. Government will still tax things requiring payment in whatever. For transactions in private there are already other methods. PMs and cash are such instruments. The Black Market is another system for off the book transactions. Why make things more complicated than need be? I was at Walmart recently and the lights went out. They would not accept credit cards while the lights were out. How can bitcoins be used in the same situation? It may be fine for financial transactions. I don’t like the way it floats in value. I would only consider using it if the value is fixed. For example, if I want to send someone 10 dollars I don’t want it worth 7 dollars the next day. There is a chance it could go up but I won’t take any chances. It must function as a simple money transfer mechanism. It will fail if it keeps trying to behave as a PM, a store of value. It …
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