Quote from: r0ach on April 26, 2016, 11:41:16 PM

Quote from: marcus_of_augustus on April 26, 2016, 09:36:37 PM

Hahah, matthestatist shill comes out in full glory.

Yea, no kidding. I'm not under the delusion that anarchy actually works, because anarchy is a power vacuum that will always be filled by a "strongman", and then you no longer have anarchy. But PoW is an actual war game exercise that manifests in the real world, not just virtual, that fills the gap of this strongman.

Mat's idea of a bright future was the fractional reserve, debt as money systems collapsing, and then him lining up at the table for a second helping of the exact same scam when they clear the board to start anew to steal his money again. Most people who can understand these issues would likely call him a very dumb person, but he seems to think it's just being practical. It's only being practical if there are no alternatives. You are literally choosing to be scammed on purpose when you don't have to be. Pretty much any option is better than signing up to be Ben Shalom Bernanke's slave on purpose.

When I say that money requires authority behind it, I am not saying that this is how I want the world to be, but how the world is.

Bitcoin has value, cos it can be changed into USD, which is money cos it is the IOU of the USA, by far the most powerful country on the face of the planet.

Best of luck trying to convince the marketplace to part with goods or services in exchange for some digital token, that isn't backed by a powerful authority, or can't be easily exchanged for a token that is backed by a powerful.

When empires have broken down throughout the ages, their monetary systems went, but the gold and silver coins, always remained valuable, because they are valuable and desirable of themselves. If the USD were to go down the pan, you really think anyone is going to give a fuck about Bitcoins on a USB stick? I have about 30K Quarks. How much of a shit do you think I could give about them?