The point is that homosexuals exist whether or not they are banned, so will bitcoin. You might not read about it and the activity may be hidden but it exists. Maybe the price will be lower, maybe higher but even if banned by .gov, really all it has to do is be able to solve problems for a segment of the population in order to win. It does that and it has been doing that for some time now. The price is starting to reflect the fact that it is a solid protocol foundation for other layers to be built upon to create the best value transfer system man has seen yet (open source, peer to peer distributed network, adaptable, and antifragile. The bitcoin network is not just computers, it is people. These people are also a decentralized network of thinkers, coders, economists, entrepreneurs, hackers, speculators, etc. who have given Bitcoin (and bitcoin) a serious look and decided to join in. Many have dedicated their entire lives to this project. Don't tell me that doesn't have power.
I've been an early part of many trends in my life from music to mixed martial arts. I know a trend when I see it now. Bitcoin is gaining critical mass because it has the kind of hardcore supporters, and the technical veracity that are so necessary for mass adoption of anything really positive. Some of you rednecks can go ahead and shit on it all you want . It really won't hurt me at all as my choices will be the same to support this idea. The detractors here are rank newbs. You should have been around during the long, slow slide from $31.66 to $2.00 to see some real "something awful" type trolling. Government may be powerful but it can't really force everyone to comply with all of it's rules and making things illegal does not make them go away. So far, bitcoin's been kicking fiat (and gold's) ass. C'est la vie.
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http://www.youtube.com/watch?v=Xbp6umQT58A http://www.youtube.com/watch?v=3s3T9opvPHIYou are so so so wrong and naive :-(, and i dont mean that in a mean way, but if majority of bitcoin people are like you then got save me :-(... You are too passionate of something that is just money... and investment... your "ideals" are not good in this manner, its not good for you either. Dont get me wrong i would like or even love bitcoin to skyrocket, but there are serious arguments againts it...
If gov. BANS bitcoin worldwide, serious ban, even some agreements signed internationaly with some economic secretary of state, bitcoin is DOOMED. If no normal merchants will take it, and if it is clear that no one "normal" will take it (not counting underground sellers of drugs guns etc.) because he would face some serious troubles with government (just high taxes on bitcoin bussiness would do the deal) the price would so low, nobody would care about it... Yeah... it would still exist but it would be a marginal thing... I im not interested in marginal things because no money... (and vast majority of people think like me in this matter).
How would the price of bitcoin ever recover if there would be globall (just few important states would do) "ban" on bitcoin with international publicity, signed documents etc.. If everybody knows this is a serious and permant ban then bye bye bitcoin high price. Argue this... you cant probably... I would like to put more fiat into bitcoin but this one issue (serious international ban on bitcoin) is a big nightmare for me, and its easy to accomplish for governments.
It's not just money and investments, it's much, much more than that. Do your homework and sometime you might realize that what I speak of is not idealism or naivety. Governments are not going to universally ban anything and they are not even considering this. The current evidence all points toward acceptance and not banning by most of the governments on earth. It is not currently illegal in any country in the world..even China. Everything you want is on the other side of fear. Stop peeing your pants and work toward what you want in life with a clear understanding of risk management. I am hoping for lower midterm bitcoin price because it serves my interests right now, but really price is secondary to the social and technical aspects of distributed p2p networks like bitcoin. The current centralized systems are highly fragile and are doomed if we do not allow more robust systems to be in a position to take over when they inevitably get FUBAR.
"NASSIM NICHOLAS TALEB: The banking system, the way we have it, is a monstrous giant built on feet of clay. And if that topples, we're gone.
Never in the history of the world have we faced so much complexity combined with so much incompetence and understanding of its properties." -
And before anyone says "Ya but that was back in 2008, things are great now." Well, things are only holding together with a strand of thread because of billions of dollars worth of QE per month propping it up.