the fun part about the alts is ... they're all priced in btc ... so if btc ultimately fails / severely loses value , so does every single alt coin ...
If that logic is good, and BTC is priced in USD, then if the USD fails/severely loses value
SO WOULD BTC!
And here I was, cheering the doom of that fiat economy... and now I gotta prop up the USD just to keep my BTC alive?
the fun part about the alts is ... they're all priced in btc ... so if btc ultimately fails / severely loses value , so does every single alt coin ...
If that logic is good, and BTC is priced in USD, then if the USD fails/severely loses value
SO WOULD BTC!
And here I was, cheering the doom of that fiat economy... and now I gotta prop up the USD just to keep my BTC alive?
no, because bitcoin isn't attached only to usd, but to fiat in general, and its value is indipendent anyway, we give value to btc basing on fiat, but if all fiat currencies crash, we can give btc a value based on goods, we don't need fiat actually
Ah, I see. But altcoins can't be traded for other altcoins, goods or fiat? That sure makes them less attractive
There are those who claim Bitcoin was created by the NSA as the ultimate honeypot. The reasoning goes something like this:
1. Bitcoin attracts the criminal element <==prima facie, empirically substantiated, currently held axiomatic.
2. Those attracted to Bitcoin are criminals <==somewhat of a logical leap, but again, shown to be true in 99% of the cases. Remaining 1% are weirdos who like losing money, so who cares.
4. Bitcoin is instrumental in fighting crime by impoverishing those who hold it. <==not life-affirming, handicapping the criminal contingent.
5. What's more, criminals pay for their own demise (arrest->confiscate BTC->sell BTC (to criminals, who else)->rinse->repeat). <==PROFIT!
Bitcoin is best crime-fighting tool ever, Q.E.D.
No joke. A year ago, at the NY hearings, the FBI testified that they were not worried about bitcoin, so I read. To this day, I have not read of anyone from US law enforcement calling for it to be banned. Not even after the ransomware attacks against government offices.
Objectively, catching Ross Ulbricht must have been much easier than catching a traditional drug dealer, since much of the investigation could have been done remotely, by agents sitting at their desks, with hot coffee and donuts at hand...
have you red the whole story regarding Ross and his two buddies Bridges and Force?
http://www.forbes.com/sites/sarahjeong/2015/03/31/force-and-bridges/It was obviously set up from the beginning.
Silk Road Sealed Document Dump Day (Full Text):
http://qntra.net/2015/04/silk-road-sealed-document-dump-day-full-text/
You and Jorge agree. He is saying that various TLAs are using Bitcoin to entrap people. He has seen through one more layer of government deception than you tho. He thinks that the rabbit hole goes deeper. It's not just a few rogue agents, the whole bitcoin thing was created by TLAs to entrap us.