Post
Topic
Board Economics
Re: Definition of a Commodity & Are Bitcoins a Commodity?
by
mizerydearia
on 25/08/2010, 10:22:21 UTC
@fresno

I totally agree with your argument re liability.  There are many statements on this forum that stick it to TPTB.  If the community were to take your suggested route, it'd be best to nuke this forum, and start one that's heavily moderated to eliminate inappropriate comments.

As I've written here ad nauseam, I'm not interested in Bitcoin as a better PayPal that would be acceptable to TPTB.  I'm interested in Bitcoin as part of net-based monetary systems that could replace government-backed and -controlled fiat currencies.  It could serve as "cryptogold", supplementing physical gold etc.  In order to play such a role, Bitcoin will need to survive attacks by governments and others with massive resources.  It will need allies in the tradecraft communities.

What kind of attacks or risks does that involve for Bitcoin users?

Should there be concern that many homes will be raided by swat teams?

Perhaps in such cases it is good to have an offsite backup of wallet files so that current income aren't lost and can be transferred to other addresses in the case of hardware being stolen/seized?