Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
adamstgBit
on 13/03/2014, 23:30:25 UTC
Atlas Ceo on fox business
he said 1000s of signups yesterday

poeple need to be prepared to answer why its better then fiat.

the naysayers say things like "a currency has to be back by the full faith and credit of a government"

the appropriate response to that is

" bitcoin is backed by all the poeple who chose to use it...
it has value because it has specific properties that make it desirable

bitcoin is:
1. Scarce
2. Durable
3. Portable
4. Divisible
5. Impossible to counterfeit
6. Fungible ( any 1 BTC has the same value as any other )
7. Easy to keep safe ( contrary to popular belief, it easy to print out a paper wallet...)
8. Shiny ( yes the digital bits that make up a bitcoin are VERY shiny)
9. all of the above. + very shiny

Fiat is:
1. Definitely not  Scarce, ( mage inflation in the money supply is monumental )
2. Not Durable
3. NOT Portable... compare it to bitcoin, ( try sending 1 million dollars across the globe, try sending 10 cents. then try again but with bitcoin AHhhhh you starting to get it now eh )
5.  Impossible to counterfeit LMAO
6. Fungible... ya maybe...
7. Easy to keep safe? ya all it required is huge banks, and even then....  the only reason it works is the fact the government has no problem printing (out of thin air ITS MAGIC!) as much money as they need to be solvent any time they need it, you do know what a bailout is right?
8. Shiny? Its has cocaine allover it so no... not shiny

the only thing that fiat  has going for it is that its widely accepted, for now!
"

in short: