Quote from: Mervyn_Pumpkinhead on June 28, 2014, 12:19:09 PM

Quote from: Voktar on June 28, 2014, 12:02:00 PM

Quote from: Mervyn_Pumpkinhead on June 28, 2014, 11:35:17 AM

Quote from: Voktar on June 28, 2014, 11:26:22 AM

Quote from: Mervyn_Pumpkinhead on June 28, 2014, 11:06:50 AM

Unlike bitcoin, gold has practical application besides storing and transferring wealth.

So how do you call being able to formalise a contract without trust or third parties involved? A public ledger that anyone can use to vote where no one can lie or cheat the system?

Bitcoin can be the money of the internet and a store of wealth but it has a lots of practical applications too. If you are only seeing the currency side of Bitcoin you are missing a lot of potential.

Without trust? Are you kidding?
With bitcoin, you have to trust a bunch of anonymous people with a criminal past, to keep the unit value. Bitcoin is even more dependant of trust then fiat.

Sorry but respectfully i have to say you are talking nonsense here, at least to me.

Care to elaborate why you think a decentralised / public ledger is more dependant to trust than a ofuscated fiat system that is monopolized by a few central banks?

And what criminals are you talking about?

At least with fiat, it's public information on who are responsible for keeping the unit value. With bitcoin, you can manipulate the unit value while staying anonymous.

The criminals are the drug dealers who created the foundation for bitcoin by being the first that gave it value, or the hackers and scammers who have stolen countless coins.

It's not even funny how the majority of bitcoin holders are trying to ignore facts like the loss of mtgox coins. That no one knows the fate of mtgox stolen coins. That there are loads of coins that are being held by unknown criminals and you can't know their future intentions with their coin use.

bitcoin has value because someone can and did steal the mtgox bitcoins!

because bitcoin, its for real!

put that in your pipe and smoke it