Quote from: ben-abuya on June 23, 2011, 08:36:31 AM

What people don't seem to realize is that distributing a new currency to the world from zero is a really hard problem. In fact, before bitcoin came around I couldn't think of any viable way of doing it. Bitcoin's way is pretty brilliant and is working out swimmingly so far. And, by the way, if you're writing on the forum at this point, you are in all likelihood a very early adopter. The people who start buying at $100 and $1,000 per btc will be seeing you as a rich tycoon who got tipped off early.

Paypal, dwolla, no one has a problem to begin with if its a one to one exchange.

The reason bitcoins is different is because the early adopters get it for free, encourage speculation, cash out, no vendors want in on a fluctuating model.

Think about it - the only cash in is from speculators and a tiny amount of vendors. The cash out comes from the early adopters and "miners" taking it OUT of the system.

Its a nil cash system bootstrapped doomed to deflation, is partly supported by the criminal element who is also successfully trying to steal it from others - in short its a beta project that I think has geeks in love with the technology, speculators in love with the rah-rah from early adopters and very few voices of reason.

The fact that people are actively discouraging others from discussing what deflation means and to say "my answer is this post" is frightening and morally poisoned.

You can't build a currency on trust with a base of skewed self interest. Have you noticed how vile and rude these boards are? I've never seen anything like it. THIS is the community?

THanks for replying to my post.