Quote from: pungopete468 on March 23, 2014, 11:00:29 PM

Quote from: MatTheCat on March 23, 2014, 10:58:08 PM

Quote from: Ibian on March 23, 2014, 09:03:08 PM

Quote from: NeedForBitcoin on March 23, 2014, 08:14:59 PM

People wouldn't be able to exchange USD for BTC, so bad.

Ill trade you a quarter bitcoin for that nice boat of yours.

See how easy that was? No dollar or banker needed.

HA FOOL!

That quarter Bitcoin is now worth two boats!

Oh Shit, no wait a minute, now it is only worth half a boat! Hey, give me my fkn boat back!

Wait!? What is this?, Now the exchange won't give me my money until I prove where my Bitcoin came from!

Fuck them, I will just cash it out on LocalBitcoins......"How much premium was that you are charging!? Did you just say 20% under spot!?"

Holy shit!

Next time, just wire the funds into my account buddy, ok?

This is a fiat world where everything is manipulated. The current behavior isn't really a good measure for the hypothetical behavior in this scenario.

Because Bitcoin is never manipulated?

Quote from: pungopete468 on March 23, 2014, 10:52:13 PM

- I agree with your statement to a small extent. However, there is a subtle difference between trusting Bitcoin and trusting the dollar. Trust in every other currency is only trust in the issuing party. The central party is the weak link because people are unpredictable. Bitcoin is predictable and trusting in math is more reliable than trusting in a person. The trust people place in Bitcoin is earned, the trust in central currency is given.

- Bitcoin shares several of the advantages of fiat with the strong property rights of a gold standard. The data on your debit card is similar to Bitcoin. Plenty of people consider those strings of data valuable. You can have the convenience of our current system without the counter party risk. The problem I'm illustrating is a result of electronically transferring a tangible form of wealth. Bitcoin is redeemable anywhere as opposed to a paper note backing an asset where it can only be redeemed at a specific location relative to the asset it backs. The only way to achieve this with a currency backed by a commodity is to use a fractional reserve system.

- The advantages are different from person to person. I can think of several advantages to real life situations. It might not be advantageous to you specifically but that's not an accurate representation for everybody else.

I think the collapse will be hell. I think it won't be the end of free thinking but that would be the cost of losing the struggle... There are guns on both sides... I hope the dollar doesn't fail but I also hope that an Asteroid never hits the earth, and humanity survives long enough to find life elsewhere in the Universe. Hope is important, but it's not enough without action.

- I don't think Bitcoin has yet earned the trust people are attempting to attribute to it.

Hmm other than that I basically agree with everything your saying.