Quote from: Razick on May 31, 2013, 04:00:04 PM

Quote from: CtrlAltBernanke420 on May 31, 2013, 03:54:11 PM

Quote from: Razick on May 31, 2013, 03:52:07 PM

Quote from: CtrlAltBernanke420 on May 31, 2013, 03:35:26 PM

Quote from: nameface on May 31, 2013, 03:28:34 PM

But I thought Bitcoin was money for the Internet? Why do you wanna buy farms IRL? Do you mean Farmville? I'm completely lost.

Bitcoin is here to replace fiat. Everything earth related is what bitcoin is for. Who wants to invest in a farm and eat some healthy organic veggies and meats, and have a place to 'get away' from urban hussle and bussle.

I see Bitcoin more as "the new PayPal" and then some rather than "the new Dollar."

Then why are us dollars not converted into internet dollars. The scarcity of bitcoin, has the ability to act as gold and store of value. So it is more than a payment system.

Exactly. More than a payment system, it's an internet currency. That is a problem why?

Because it is too expensive to send fiat into and out of bitcoin. Yet holding bitcoin is very risky if someone is required to hand over a very large stack of cash to get a hold and decent quantity of bitcoin. All it takes is the early miners to dump them bitcoins they are holding and bring the price to the floor. There is no economy supporting bitcoin. Its 99% speculative at the moment and there is very little visable effort to build a bitcoin economy.

Too risky for major money to move it. Not to mention the fed could buy up all bitcoins making all of us fiat rich and corrupted. undermining the supposed monetary revolution.