Quote from: BitSmile on April 13, 2013, 03:22:04 PM

Quote from: revans on April 13, 2013, 02:38:05 PM

Quote from: Severian on April 13, 2013, 02:32:04 PM

Quote from: revans on April 13, 2013, 02:17:05 PM

Bitcoin fanboys

Out of curiousity, what combined currency/payment processing network/ledger system has your devotion?

You're missing an important point: no person or group issues the currency in Bitcoin. That kind of power is removed from mere human whim and given over to an agreed upon protocol. If you don't like the protocol, you can go start your own.

The bankster cabal would never think to tell us, "Hey, go start your own currency if you don't like ours."

Umm, yes a rather special group does issue the currency in Bitcoin: the miners with enough state fiat capital to invest in the increasingly expensive equipment required to mine Bitcoins.

The underlying Bitcoin implementation is fine, but I find the mining aspect hugely problematic. Bitcoins should been distributed freely to people that want them so as to provide everyone an opportunity to be part of a financial reboot. Sadly Bitcoin went down the road of having engineered inequity and is as morally bankrupt as the system it seeks to supplant.

Bitcoin is like gold. You can mine gold too. Do you also think the same about gold, that some people thousands of years ago mined it all and now you can only get a few little nuggets out of heavy buckets of dirt from bed rock?

Gold is a commodity not a medium of exchange (at least not to any significant degree). Gold is not a contrived creation born of high-minded ideals.