• Quick note - the problem with Youtube videos not embedding on the forum appears to have been fixed, thanks to ZiprHead. If you do still see problems let me know.

Bitcoin - Part 2

Status
Not open for further replies.
psionl0 said:
Isn't it amazing that anybody who is not willing to let the government scrutinize their finances is automatically a dealer/terrorist/criminal with something to hide.

Why don't you just do away with the pesky constitution so you can really crack down on dissidents?
Click to expand...

True they are probably just tax evaders. But with the swiss being less likely to help there has to be someway of hiding your money from the taxman right?
 
ponderingturtle said:
Yep paying taxes = totalitarian state.
Click to expand...
You just said, "True they are probably just tax evaders". ie anybody who would use an anonymous medium like bitcoin is automatically presumed to be a criminal or tax evader. That is Stalinist stuff.

Maybe we should crack down on those dastardly types who use cash to pay for things. :yikes:
 
psionl0 said:
You just said, "True they are probably just tax evaders". ie anybody who would use an anonymous medium like bitcoin is automatically presumed to be a criminal or tax evader. That is Stalinist stuff.

Maybe we should crack down on those dastardly types who use cash to pay for things. :yikes:
Click to expand...

So what is the purpose behind this anonymity? One of the main benefits to it is for tax evasion and obscuring ties to criminal activity. What is the benefit you are looking for?
 
Belz... said:
Maybe just the principle of it. Some people don't like their every move recorded and stored.
Click to expand...

Isn't that what the block chain is all about though? Storing your information and sharing it with everyone so that you can determine who owns which coin so you can't refill your wallet by simply restoring to a backed up version of it.

Because if you can't trust strangers on the internet who can you trust.
 
Belz... said:
Maybe just the principle of it. Some people don't like their every move recorded and stored.
Click to expand...
There is also the issue of being able to trust the authorities to handle the information it has on you appropriately. How do you know that they won't disclose information about you to somebody who has a grudge against you? Somebody who uses a hooker may not want to share that information.

Then there is the fact that the more the government knows about the way you use money, the greater the ability it has to control what you are allowed to use your money for. Do we really want to answer to the government for every penny we spend?
 
jhunter1163 said:
Frankly, though, the arrival of the major players will do more to hasten the demise of Bitcoin than anything else.
Click to expand...
Why do you keep repeating this nonsense as if it were an established fact?

You have been unable to establish any sort of link (let alone a causal link) between yet another way of taking money out of your bank account and bitcoin prices.

jhunter1163 said:
Can you short BTC?
Click to expand...
Yes. Are you game?
 
jhunter1163 said:
That's not going to have much effect on BTC. If China were to ban it, the effect would be much more profound. Frankly, though, the arrival of the major players will do more to hasten the demise of Bitcoin than anything else. Can you short BTC?
Click to expand...

If you're able to find someone who is willing to lend you their bitcoin, then obviously you can sell it short.
 
The_Animus said:
Microsoft begins accepting bitcoin.

http://m.cnnmoney.com/article?url=h.../2014/12/11/technology/microsoft-bitcoin.json
Click to expand...

I can't tell from this if they're accepting it directly, or using Coinbase to lay off the volatility risk. They might accept it directly; Uncle Bill probably has enough money between the cushions of his couch to absorb any losses he might take. Still, though, the arrival of Apple Pay and similar services will relegate BTC to a niche product (at best).
 
Status
Not open for further replies.

Back
Top Bottom