7 ms·

That's just glib. People use lots of bitcoins on silk road every day with no interest in speculation. Bitcoins are a real currency with value backed by the inte

by ulvund 14y ago

That's just glib. People use lots of bitcoins on silk road every day with no interest in speculation. Bitcoins are a real currency with value backed by the interest in silk road products. If you can only look at bitcoins from the viewpoint of turning a quick buck, then you are not able to see a substantial part of the elephant.

davidw 14y ago
> Bitcoins are a real currency with value backed by the interest in silk road products. If a few big countries legalized drugs, perhaps that would make bitcoins less valuable/interesting, causing a bust? Probably not realistic in the short term, but interesting to consider.
- napillo 14y ago
  Nonsense. Even then, Paypal does not work in many countries. With BitPay, it works everywhere. Bitcoin is more secure than your credit card or your checkbook, and it's anonymous.
illuminate 14y ago
"People use lots of bitcoins on silk road every day with no interest in speculation. Bitcoins are a real currency with value backed by the interest in silk road products." The existence of some people who use bitcoins as they are intended does not change that goldbugs, speculators, and others are legitimately affecting the currency as capitalism not only allows for, but ENCOURAGES. This is not glib. This is reality.
- LyndsySimon 14y ago
  I'm very interested in Bitcoin, and advocate for it as best I can. I don't think you'll find anyone really who disagrees with you in the Bitcoin community. Most of us see that as a feature, not a bug.
  - illuminate 14y ago
    Sure, I just don't see how observing these patterns is "glib". It's not the "point" of Bitcoin, but certainly common.
yason 14y ago
Bitcoins are a real currency with value backed by the interest in silk road products. Why isn't one bitcoin fixed to dollar or euro by some conversion factor? That would remove the question of the value of a bitcoin. There are lot of currencies that are permanently fixed to an other. The novel thing is the theory that you can cryptographically make anonymous transactions unique. It doesn't imply being a separate currency. Or am I missing something?
- jamoes 14y ago
  Who would enforce the restriction that 1 BTC == 1 USD? The fact that bitcoin is decentralized means that the value of the currency pretty much has to float.

by ulvund 14y ago

davidw 14y ago

> Bitcoins are a real currency with value backed by the interest in silk road products. If a few big countries legalized drugs, perhaps that would make bitcoins less valuable/interesting, causing a bust? Probably not realistic in the short term, but interesting to consider.

napillo 14y ago
Nonsense. Even then, Paypal does not work in many countries. With BitPay, it works everywhere. Bitcoin is more secure than your credit card or your checkbook, and it's anonymous.

illuminate 14y ago

"People use lots of bitcoins on silk road every day with no interest in speculation. Bitcoins are a real currency with value backed by the interest in silk road products." The existence of some people who use bitcoins as they are intended does not change that goldbugs, speculators, and others are legitimately affecting the currency as capitalism not only allows for, but ENCOURAGES. This is not glib. This is reality.

LyndsySimon 14y ago
I'm very interested in Bitcoin, and advocate for it as best I can. I don't think you'll find anyone really who disagrees with you in the Bitcoin community. Most of us see that as a feature, not a bug.
- illuminate 14y ago
  Sure, I just don't see how observing these patterns is "glib". It's not the "point" of Bitcoin, but certainly common.

yason 14y ago

Bitcoins are a real currency with value backed by the interest in silk road products. Why isn't one bitcoin fixed to dollar or euro by some conversion factor? That would remove the question of the value of a bitcoin. There are lot of currencies that are permanently fixed to an other. The novel thing is the theory that you can cryptographically make anonymous transactions unique. It doesn't imply being a separate currency. Or am I missing something?

jamoes 14y ago
Who would enforce the restriction that 1 BTC == 1 USD? The fact that bitcoin is decentralized means that the value of the currency pretty much has to float.