Quote from: BluesBrother on April 16, 2013, 08:50:13 PM

Quote from: zeroday on April 16, 2013, 03:06:10 PM

Quote from: BluesBrother on April 15, 2013, 11:22:27 PM

You're basically storing up funds instead of investing them back into the economy more or less hoping that everything else goes to hell.

BULLSHIT!

I invested all my money in my own successfull business. And I lost it all when government decided to grab it to repay national debt!
Read this. All my fiat assets invested to economy went to HELL!
Fuck EUR, fuck USD, I'm buying BTC right now! At least they cannot seize it.

Dude I'm sorry for your loss but first of all you will not lose your 720 000 unless that bank is a shady crap-bank (and in that case it's your fault) but you will just pay a small tax on it. On the topic you didn't invest your money but kept them in fiat currency which is just as bad as keeping them in bitcoins or gold or anything else.

Depending on what you do 820 000 isn't necessarily to much to have in currency so I can't blame you dude, I'm sorry for your loss Sad

Shady crap-bank?
Say that to the Argentines, to the Greeks, to Cypriots and maybe soon to the whole European Union.
The whole fractional banking concept is rotten and it will hit harder than you imagine. It is not about a single crappy bank, it is about the system itself.

The only banks that will survive are the Islamic banks, because their superstitious belief that usury is sinful made them create the most stable banking system in the world: full-reserve and no interests in loans.

So before bashing something new to you, you should wonder how little you know.
You guys are bashing that bitcoiners are making money without creating value, what people here are doing is insignificant compared to what actual banks are doing, which is exactly that but on steroids. Ever heard about the money multiplier mechanism inherent in the fractional reserve banking? They create money out of thin air, without printing bills. The most ludicrous way of making profits by doing nothing. A single bank is making more per day than the whole bitcoin economy a year.

The big difference here is that bitcoins are not creating money out of thin air, but appreciating in value in response to actual demand.
The fractional reserve banking is a money printing machine without the ink, and EVERY western bank makes money that way. Infinitely.
If you all bashers still don't understand the difference, go back to your textbooks because this is flying way over your heads.