What are the guns of bitcoin? In answer I point to is its network. People who are willing to take payment in bitcoin are different from the general population. It's a club many desire to join.
The Guns of Bitcoin (2017)
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Re: The Guns of Bitcoin (2017)
#12People using pine wood for flooring to spite the king for claiming it is probably the most American thing I have ever heard of.
Re: The Guns of Bitcoin (2017)
#13People using pine wood for flooring to spite the king for claiming it is probably the most American thing I have ever heard of.
Pine floors are terrible to maintain though.
'cut off your nose to spite the king'
Re: The Guns of Bitcoin (2017)
#14> What makes dollars valuable is that the government wants them back. Very common misconception. Dollars have value because there is demand for them (governments, other governments, other people and institutions). Bitcoin also has value because there is demand for it. As does your house, expensive art, etc. Why does anything have value? Because someone else will pay your for it. I can say my pencil is worth $1 billio…
Yes.
Usually that concept in that quote is a baseline of demand. The government will accept tax payments in US dollars, but they will probably demand no BitCoin, stamps, bullion, etc.
That said, tax payments are not the only type of demand.
Re: The Guns of Bitcoin (2017)
#15> American dollars have value because the US Government taxes things, like land, and if you do not pay those taxes they will send you mean letters (trust me) before resorting to other means (trust Al Capone)
This is just plain wrong. Currencies have value themselves for their utility as a means of exchange, not because of taxes. This idea that raising taxes increases the value of a currency is bonkers.
Re: The Guns of Bitcoin (2017)
#16People using pine wood for flooring to spite the king for claiming it is probably the most American thing I have ever heard of.
Pine floors are terrible to maintain though. 'cut off your nose to spite the king'
People have done worse for less, a specific parallel to current events should come to mind.
In any case i'll remove pine floors from my diy tiny house project checklist.
Re: The Guns of Bitcoin (2017)
#17The common mistake is to try to compare Bitcoin to a predefined experience of money.
Bitcoin's value is multifaceted. From a very simplistic perspective, it can be compared to gold. Things get more interesting when you value aspects such as it being:
- Fully digital
- Verifiable by the common individual
- Sent and received with no interference from third parties
- Free from supply emission increases or control
Each of these is especially hard to come across in any other form of money. Combining them is unprecedented.
Re: The Guns of Bitcoin (2017)
#18What's going to stop me from using bitcoin for everything, and then exchanging some into dollars at the last second to pay my taxes?
Re: The Guns of Bitcoin (2017)
#19Earlier quoted context omitted.
Pine floors are terrible to maintain though. 'cut off your nose to spite the king'
People have done worse for less, a specific parallel to current events should come to mind. In any case i'll remove pine floors from my diy tiny house project checklist.
imo, as a builder of one, tiny house has such a low squarefootage that you can spring for high quality materials without breaking the bank.
it's easy enough to find 200sqft (that's a 20' cargo container's worth) of high quality unmatched leftover flooring from a sale.