Quote from: icem3lter on August 15, 2014, 09:16:24 PM

Quote from: pummle on August 15, 2014, 07:52:50 PM

Quote from: JypsiCreme on July 28, 2014, 06:26:35 AM

There are a few other factors that make Bitcoin ideal:

-Bitcoin has no counter party risk: no one can devalue them
-Bitcoin can't be confisicated. Unlike gold in 1933:http://en.wikipedia.org/wiki/Executive_Order_6102
-Bitcoin can be sent over the Internet.

The president could issue a similar order regarding bitcoins, it would just be impossible to execute.

It is not much different from gold confiscation. Except today much harder to even consider such action like gold confiscation to be possible.

its easier, most people don't have physical gold anymore, they have papers promising them gold.
there is zero problem raiding the gold vaults of the GLD ETF and confiscating it all.