Quote from: FeedbackLoop on November 03, 2013, 03:58:06 PM

Quote from: Augusto Croppo on November 03, 2013, 03:57:14 PM

Quote from: FeedbackLoop on November 03, 2013, 11:40:11 AM

Why would anyone want to convert a promising sound currency for an exponentially-printed-to-oblivion/give-inflation-to-bankers-enslave-everyone-else/no-control-over-your-money corrupt currency?

Because in the real world utility bills, financial contracts, tax obligations, etc. are paid with... Fiat money?

Roll Eyes

Your "promising sound currency" is just that, a promise which did not became reality (yet?), while your "exponentially-printed-to-oblivion/give-inflation-to-bankers-enslave-everyone-else/no-control-over-your-money corrupt currency" is what everyone in all civilized nations use to pay their debts.

So, going back to the context of that reply, you're mining for food/debts?

Aren't you? At least in part?

When I was mining gold in my youth, I did it for the money. Partially. I also did it for the adventure, the time spent in places that civilised people were unaware of or afraid of, and for the pure hell of it. But the money was definitely a motivator, if not the only one.

Had I known then what I know now, I would have held at least half my gold instead of selling it all, but I was VERY young.

When I get sufficient resources to start bitcoin mining, I will probably convert about half of it to fiat on the upswings in price, and hold the rest. It seems to be steadily trending toward the mainstream. It even made the front page of the Idaho Statesman yesterday. Not exactly an innovative newspaper. I doubt that bitcoin will ever replace national currencies, but I think it will be a stronger and stronger side currency.

Short Form. I think BTC will continue to rise against traditional fiat, and I think of it more as a store of value than a daily currency.