A look at BITCOIN

[HatchetJack]

Ammunition has about trippled in value over the last 15 years. I have a few
boxes from way back marked with 8.97 walmart tags. That same ammo today
is 26 - 29 bucks.

[ebacon]

I'm f*cking smart.
-- Jeff Skilling

Now his smart ass is in jail.

[whell]

This is going to make some liberals insane, as well as some big government republican - types. From the article:

"A virtual currency such as Bitcoin attracts users because it's not subject to any government"

"Believers in Bitcoin are confident that it can protect them not just from governments but also against humankind as a whole. Instead of relying on politicians and bankers, or the vagaries of democracy, Bitcoin's users put their faith in the laws of mathematics."

"When these crises threaten to get out of hand, governments have a habit of confiscating not only the bank accounts but also the freedoms of their citizens. We're unlikely to see anything like the dictatorships that emerged from the chaos of the 1930s but it's entirely possible that democratic governments will feel the need for controls of the kind that European officials have imposed in Cyprus.

Bitcoin's users believe it can give them protection against such incursions. But governments today have formidable tools of electronic surveillance at their disposal, and it would be unwise to assume that virtual currencies are beyond their reach."

Because, of course, governments have great track records of managing their currencies, so none of this is really necessary.

[finnbow]

Originally Posted by whell

This is going to make some liberals insane, as well as some big government republican - types....

The rationale sounds like nonsense written to appeal to paranoid Teabagger or survivalist types.

[ebacon]

Originally Posted by whell

. . . Because, of course, governments have great track records of managing their currencies, so none of this is really necessary.

Pssht. Governments have just as good of a track record as private citizens, e.g. monarchies. Every time things get tough the people in charge of minting the money either print more of it or dilute the precious metals. Every time. Everywhere. Every flag.

[Dondilion]

Originally Posted by ebacon

Pssht. Governments have just as good of a track record as private citizens, e.g. monarchies. Every time things get tough the people in charge of minting the money either print more of it or dilute the precious metals. Every time. Everywhere. Every flag.

Yeah I have been looking for those quarters...1965 and prior.

BTW I wonder how much is the "Republic of Texas" silver dollar worth in paper dollars.

[BlueStreak]

Originally Posted by HatchetJack

Ammunition has about trippled in value over the last 15 years. I have a few
boxes from way back marked with 8.97 walmart tags. That same ammo today
is 26 - 29 bucks.

Awesome. Maybe we should just tax the shit out of ammo (and powder) until no one can afford it anymore? $1,000 box of ammo, anyone?

Think I'll write a letter to the President.

Dave

[ebacon]

Originally Posted by Dondilion

Yeah I have been looking for those quarters...1965 and prior.

BTW I wonder how much is the "Republic of Texas" silver dollar worth in paper dollars.

I think those coins are called 90% silver or something like that. They can be bought on kitco.com along with other precious metals.

Check out the Republic of Texas' web site. Seen any familiar names?

http://www.texasrepublic.info/drupal/index.php

[HatchetJack]

I've noticed in the last few years that no new money is coming through
my store. Back in the 90's and early 2000's it was very common to see
new bills sticking together and bills of all years were very common.
Now the money has a dirty used up feel and I have not held any new
bills at all. All the 20 dollar bills are either 2004, 2006 or 2009? A scattered
few 100 bills that are older but not many. I understand maybe fighting
conterfeit and all that but what happened to all the old bills? Did they
shred and recycle them or? Tin foil hat? I dunno? but weird.

[whell]

Originally Posted by finnbow

The rationale sounds like nonsense written to appeal to paranoid Teabagger or survivalist types.

To a left of center fan of state-ism it might sound like that.

Seriously, I'm not suggesting that Bitcoin is somehow the answer to many country's financial woes. Then again, most counties monetary policy / foreign policy / trade policy leverages currency manipulation, and most of the time it turns out to be mischief - making that has more ill effects than not. The idea of a currency with a stable value has appeal.